Intra-day Market Moving News and Views
23 Oct 2015 01:12GMT
USD/JPY - ....... Although price edged lower to 119.61 in Asia yesterday, the greenback rallied to 120.76 at New York midday, helped by the release of upbeat U.S. housing and jobless claims data. Dlr continued to ratchet higher and rose to 120.99 at Tokyo open today, helped by the initial 400+ points rally in the Nikkei-225 index. However, profit-taking offers there capped intra-day gains and price retreated in Tokyo morning.
U.S. will release its preliminary reading of manufacturing PMI at 13:45GMT. Street forecast is for a slight decrease to 52.8 fm prev. figure of 53.1.
Bids have now been lowered to 120.50/60 and more below at 120.20/30 with stops building up below there whilst initial offers are noted at 121.20/30, suggesting buying on intra-day dips is still favored.
Data to be released on Friday:
China house prices, Caixin manufacturing PMI, Makit manufacturing PMI and service PMI for France, Germany and euro zone, Italy industrial orders, retail sales, wage inflation, Canada CPI.
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