Intra-Day Market Moving News and Views
Update Time: 25 Jun 2019 03:00GMT
USD/JPY - 107.14.. Despite staging a rebound from yesterday's 107.25 low (Europe) to 107.53 in New York morning due to cross-selling of yen, the pair fell shortly after Tokyo open on Tuesday as traders bought the safe-haven yen broadly vs usd, eur, sterling and aud etc, price fell to 107.09.
Intra-day weakness due to renewed usd's decline in Asia suggests re-test of Friday's 5-1/2 month trough at 107.06 would be forthcoming next and stops below 107.00 are in focus, therefore, sell dlr on recovery is the way to go.
Offers have been lowered to 107.35/40 and more above with stops above 107.85.
Bids are noted at 107.10-05 with stops below 107.00.
The U.S. will release a slew of eco. data later today starting with U.S. building permits, Redbook, monthly home price, CS home price, consumer confidence, new home sales, Richmond Fed manufacturing index.
Also we have New York Fed's Williams speaking at 12:45GMT, then followed by Atlanta Fed's Bostic at 14:00GMT and last but not least, Fed's Chairman J. Powell will speak at forum in New York called "A Conversation with Jerome H. Powell," at 17:00 GMT.
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