Intra-day market moving news and views
Update Time: 28 Jan2022 05:30GMT.
USD/JPY - 115.45.. The greenback remains on the front foot in relatively subdued Tokyo morning after Thur's rally fm 114.48 (Asia) to a 2-week high of 115.48 due to follow-through broad-based USD buying after post-FOMC hawkish comments by Fed chief J Powell. As y'day's break of last week's 115.05 high n daily close abv there suggests correction fm Jan's near 5-year peak at 116.34 has ended, price is en route twd this 2022 peak next week.
Therefore, trading the buck from long side is the way to go today but be wary of pre-weekend profit taking in NY session later today. Bids are noted at 115.20-10 with stops below 115.00 while offers are tipped at 115.45/55 with some stops abv there.
T.G.I.F., US will release a slew of important data, and pay attention to PCE price index (Fed's favourite inflation guage), if annual Dec reading come in sharply higher than previous number of 5.7%, this will bolster market expectation of a 25 b.p. (some are even thinking of 50 b.p.) rate hike at Mar FOMC meeting and USD will rally further.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD bounces to 0.6450, shrugs off mixed Australian jobs data
AUD/USD is rebounding to test 0.6450 amid renewed US Dollar weakness in the Asian session on Thursday. The pair reverses mixed Australian employment data-led minor losses, as risk sentiment recovers.
USD/JPY drops to test 154.00 on Japan's intervention warnings
USD/JPY extends losses to test 154.00 in Asian trading on Thursday. The pair is undermined by the latest US Dollar pullback, Japan's FX intervention risks and a softer risk tone. Focus shifts to more Fedspeak and US data.
Gold rebounds on market caution, aims to reach $2,400
Gold price recovers its recent losses, trading around $2,370 per troy ounce during the Asian session on Thursday. The safe-haven yellow metal gains ground as traders exercise caution amidst heightened geopolitical tensions in the Middle East.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Investors hunkering down
Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.