[B]Intra-Day Market Moving News and Views
24 Jun 2014[/B] [I]01:37GMT[/I]
[B]USD/JPY [/B]- ... Despite last Fri's brief rebound from 101.74 to 102.20, U.S. dollar ratcheted lower to 101.82 yesterday due to the weakness in Nikkei-225 index futures in Chicago yesterday. Nikkei-225 index currently dropped by 92 points to 15277. Offers are now reported at 101.90-00 and more at 102.10-20. On the downside, mixture of bids and stops is located at 101.70 and 101.60.
Trading is expected to be thin today as expectations for price swings in the dollar against the Japanese yen fell to a record low due to signs of an uneven U.S. economic recovery fueled bets the Federal Reserve will keep borrowing costs at unprecedented lows.
Kyodo news reported earlier on June 19 that Japan’s cabinet may approve the Prime Minister Shinzo Abe’s growth plan today.
Yesterday, White House said ‘Obama spoke to Russian President Putin on Monday, saying Russia will face additional costs if there are no concrete actions to de-escalate Ukraine situation.’
[B]Data to be released on Tuesday: [/B]
Switzerland trade balance, Germany Ifo business climate, Ifo current conditions, Ifo expectations, UK mortgage approvals, U.S. consumer confidence, new home sales.