Intra-day news and views and data to be released today – USD/JPY

AceTrader Team AceTrader

Intra-day market moving news and views

Update Time: 21 Jun 2021 05:30GMT

USD/JPY - 110.09.. Despite trading narrowly at Tokyo open following Friday's retreat from 110.48 to 110.05 on broad-based buying in yen due to risk-off trade (Nikkie currently down over 3% n have a 1-year low of 27,899), price edged lower in tandem with U.S. yields (benchmark 10-year hit a near 4-month low of 1.4095%, circa 1.4112%).

Although range trading is in store with near term mild downside bias due to renewed cross-buying in yen, as long as Friday's 109.95 low holds, consolidation with mild upside bias remains.
Offers are tipped at 110.30/40 with stops above 110.50 while bids are touted at 110.95/109.95 with stops reported below 109.80.

No eco. data is due out from the U.S. today, however, we have a number of fed officials scheduled to speak in New York session, please refer to our EI page for details. Pay attention to their comments as market reacted to St. Louis Fed President Bullard's hawkish comments in New York morning n bought USD broadly, pushing the dollar index to a 9-week high.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD stays defensive below 1.1900 as USD recovers

EUR/USD trades in negative territory for the third consecutive day, below 1.1900 in the European session on Thursday. A modest rebound in the US Dollar is weighing on the pair, despite an upbeat market mood. Traders keep an eye on the US weekly Initial Jobless Claims data for further trading impetus.

GBP/USD holds above 1.3600 after UK data dump

\GBP/USD moves little while holding above 1.3600 in the European session on Thursday, following the release of the UK Q4 preliminary GDP, which showed a 0.1% growth against a 0.2% increase expected. The UK industrial sector activity deteriorated in Decembert, keeping the downward pressure intact on the Pound Sterling.

Gold sticks to modest intraday losses as reduced March Fed rate cut bets underpin USD

Gold languishes near the lower end of its daily range heading into the European session on Thursday. The precious metal, however, lacks follow-through selling amid mixed cues and currently trades above the $5,050 level, well within striking distance of a nearly two-week low touched the previous day.

LayerZero Price Forecast: ZRO steadies as markets digest Zero blockchain announcement

LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.