AceTraderFx Feb 18: Intra-Day News and Views (USD/JPY) & data to be released today

[B]Intra-day Market Moving News and Views

23 Jul 2015[/B] [I] 02:09GMT[/I]

[B]USD/JPY[/B] - ..... Dlr rebounded after extending losses from Tuesday's 5-week high of 124.48 to 123.57 at European open on Wednesday and then climbed back above 124.00 level to 124.16 in NY morning as release of upbeat U.S. housing data boosted demand for the greenback. The pair later retreated to 123.92 in Australia on Thursday before staging another bounce to 124.15 at Asian open. 

Today’s focus on the greenback is the release of weekly U.S. initial jobless claims and leading indicator in NY session at 12:30GMT and 14:00GMT respectively. Street forecast is for the number of Americans filing new claims for unemployment benefits last week to deduce by 1k to 280K from previous reading of 281K, whilst the leading indicators is estimated to drop to 0.2% from previous reading of 0.7%.

Choppy sideways move around 124.00 is expected ahead of NY open and offers are tipped at 124.20-30 and more near 124.45 with mixture of offers and stops just above 124.50.
On the downside, bids are reported at 123.80-70 and then 123.60/55 with mixture of bids and stops at 123.40-30.

[B]Thursday [/B]will see the release of New Zealand’s interest rate decision, Japan’s exports, imports and trade balance, U.K. retail sales, BBA mortgage approvals, U.S. initial jobless claims, Canada’s retail sales, eurozone consumer confidence flash and U.S. leading index change.

[B]Intra-day Market Moving News and Views
29 Jul 2015[/B] [I]01:32GMT[/I]

[B]USD/JPY[/B] - ...... Dlr rallied on Tue as recovery in Chinese stocks after an initial 4%-drop prompted selling in yen, price rose fROm Asian low at 123.08 to as high as 123.80 at NY open before retreating in part due to profit-taking. 

Later, dlr dropped back to 123.50 following the release of downbeat U.S. consumer confidence and then moved sideways for rest of the NY session and as well as in subdued Asian trading on Wed as investors are keeping their powder dry ahead of the release of important FOMC monetary policy statements later today (18:00GMT).

The U.S. Federal Reserve is widely expected to leave its benchmark federal funds rate unchanged. But market participants will sit through the statement for hints about when and how the Fed will start hiking the rate, which has been set at a range of 0.00-0.25% since Dec, 2008, in the throes of the financial crisis.
In addition, investors should pay attention to the release of U.S. pending homes sales at 14:00GMT.

At the moment, bids are reported at 123.30-20 and around 123.10 with stops building below 123.00.
On the upside, offers from various accounts are tipped at 123.80-90 then 124.00/05 with stops just above 124.20.

[B]Wednesday[/B] will see the release of Japan’s retail sales, Germany’s GfK consumer sentiment, Swiss UBS consumption indicator, U.K. mortgage approvals and CBI distributive trades, U.S. pending home sales change, FOMC rate decision and Fed’s monetary policy statement.

[B]Intra-day Market Moving News and Views
30 Jul 2015[/B] [I]02:33GMT[/I]

[B]USD/JPY[/B] - 124.16... Dlr continues o/n gain in Asian morning on Thursday following the release of FOMC statement in Wednesday's NY afternoon session which showed that Fed is on track to raise rates. Price briefly dipped to 123.88 just ahead of Asian open before rising above o/n NY high of 124.03 to 124.17.  

Today’s major focus for the greenback after y’day’s FOMC statement is the release of preliminary reading for U.S. Q2 GDP and the weekly jobless claims at 12:30GMT. Market expects the U.S. GDP annualized rate for Q2 to return to positive territory n show a rise of 2.6% compares to previous reading of -0.2% due to bad weather ion Q1, while the weekly U.S. jobless claims to increase 15K to 270K. Meanwhile, investors should also pay attention to the release of U.S. trade balance and personal consumption expenditures prices for Q2 which are also to be released at 12:30GMT.

At the moment, initial buying interest is noted in 124.00-123.90 and solid bids at 123.55-50 with stops stops just below 123.30.
On the upside, offers from exporters are reported at 124.35-45 with fairly stops touted above 124.50.

[B]Thursday[/B] will see the release of New Zealand’s building consents, Japan’s industrial output and IP forecast, Australia’s building approvals, import and export prices, Swiss KOF indicator, Germany’s unemployment, eurozone business climate, consumer inflation expectation, consumer confidence, unemployment rate, eurozone unemployment rate, Germany’s CPI and HICP, U.S. initial jobless claims.

[B]Intra-day Market Moving News and Views
31 Jul 2015[/B] [I]02:34GMT[/I]

[B]USD/JPY [/B]- ...... Although dlr rose above previous July's peak at 124.48 to a fresh 7-week high of 124.58 in NY morning on Thursday after official preliminary data showed that U.S. economic growth accelerated in the second quarter, lack of follow-through buying prompted profit-taking and dlr later retreated to 124.09 in NY afternoon. 

In early Friday’s trading, dlr met renewed selling at 124.28 (AUS) and then fell to 123.93 after tripping light stops below 124.00 b4 staging a recovery.
Intra-day weakness in the Nikkei and Chinese stocks suggests sideways trading below said yesterday’s 124.58 high would continue.

Today, looks like consolidation with mild downside bias would be seen in Asia n Europe b4 the release of U.S. Chicago PMI and Reuters/Michigan consumer sentiment index at 13:45GMT and 14:00GMT respectively. Having said that, investors should also take note to the release of Japan’s construction orders and housing starts at 05:00GMT.

At present, offers are tipped at 124.10-20 and more at 124.35/40 with mixture of offers and stops at 124.50-60.
On the downside, bids are placed in 123.80-123.60 region and around 123.50 with buying interest from various accounts at 123.30-20.

Earlier on Friday, official data showed that the total work force that Japan’s unemployment rate rose unexpectedly last month to 3.4%, from 3.3% in the preceding month.
Meanwhile, data showed that household spending in Japan fell more-than-expected to a seasonally adjusted -2.0% from 4.8% in the preceding month, Tokyo’s core CPI fell to at an annualized rate of -0.1% from 0.1% in the preceding month, and Japan’s national core CPI remained unchanged unexpectedly at 0.1% last month.

[B]Friday [/B]will see the release of U.K. GfK consumer confidence, Japan’s all household spending, CPI and unemployment rate, Australia’s PPI, Japan’s construction orders and housing starts, eurozone inflation, Canada’s GDP, U.S. employment costs, Chicago PMI and Reuters/Michigan consumer sentiment index.

[B]Intra-day Market Moving News and Views
03 Aug 2015[/B] [I]02:00GMT[/I]

[B]USD/JPY[/B] - ..... Although dlr fell sharply from 124.38 to 123.52 in Friday's NY morning after data showed that U.S. wage growth for the Q2 increased by the lowest level in more than 30 years, buying interest quickly emerged there and price later climbed back to 124.03 near NY close following the 'hawkish' comments from St. Louis Federal Reserve President James Bullard, then marginally higher to 124.12 at Asian open on Monday before retreating.  

Today, as market’s speculation of further weakening in yen would continue after comments from BoJ Governor Kuroda who said that he didn’t intend to draw any “line in the sand” for the dollar/yen, buying the pair on dips is recommended.
Having said, investors should pay attention to the release of a slew of U.S. eco. data later in NY morning, this includes the PCE index, personal income, personal consumption, construction spending and ISM manufacturing PMI.
In addition, Federal Reserve Board Governor Jerome Powell will speak on “The Structure and Liquidity of Treasury Bond Markets” before the Brookings Institution “Are There Structural Issues in the U.S. Bond Markets?” Conference at 14:50GMT.

At the moment, bids are placed in 123.80-123.60 region and around 123.50 with buying interest from various accounts at 123.30-20.
On the upside, offers are tipped at 124.20-30 and more at 124.35/40 with mixture of offers and stops at 124.50-60.

This week will see the release of Australia’s HIA new home sales, Japan’s manufacturing PMI, U.K. Nationwide house prices, Swiss manufacturing PMI, Germany’s, eurozone and U.K. Markit manufacturing PMI respectively, U.S. PCE price index, construction spending and ISM manufacturing PMI on [B]Monday[/B].

Australia’s retail sales, trade balance, RBA rate decision and policy statement, U.K. Markit construction PMI, eurozone producer prices, U.S. Redbook, Canada’s RBC manufacturnig PMI, U.S. ISM, durable goods and factory orders on [B]Tuesday[/B].

New Zealand’s HLFS unemployment rate and labour cost index, China’s Caixin services PMI, Swiss CPI, Germany’s, eurozone and U.K. Markit services PMI respectively, eurozone retail sales, U.S. ADP National employment, Canada’s exports, imports and trade balance, U.S. ISM non-manufacturing PMI on [B]Wednesday[/B].

Australia’s unemployment rate, Japan’s leading indicator, Swiss consumer confidence, Germany’s industrial orders, U.K. industrial and manufacturing output, BOE MPC vote outcome and rate decision on [B]Thursday[/B].

Australia’s housing finance, Swiss unemployment rate, Germany’s exports, imports, trade balance and industrial output, U.K. goods trade balance, Canada’s unemployment rate, building permits, employment change and Ivey PMI, U.S. average earnings, non-farm payrolls and unemployment rate on [B]Friday.[/B]

[B]Intra-day Market Moving News and Views
04 Aug 2015[/B] [I]02:00GMT[/I]

[B]USD/JPY[/B] - … Although dlr ended little change in on Monday, price went through a mini roller-coaster U.S. session. Price ratcheted higher in Asia and European morning as rebound in the Nikkei boosted risk appetite, price climbed to 124.27 ahead of NY open before coming off to 123.85 after release of weaker-than-expected U.S. construction spending and ISM mfg PMI, however, renewed USD’s broad-based strength in NY afternoon lifted price to 124.04 and the pair edged higher to 124.09 in Asia.

Today’s market focus is on the release of U.S. factory orders at 14:00GMT. Street forecasts is Jun’s reading to an increase of 1.8% in June from -1.0% in preceding month. If the actual figure comes in better than forecast, then another bout of dlr buying may well emerge.

At the moment, bids from various accounts are noted in 123.90-123.70 region with stops below 123.50 whilst some offers are tipped at 124.30-40 and more above with stop touted above 124.60.

[B]Tuesday[/B] will see the release of Australia’s retail sales, trade balance, RBA rate decision and policy statement, U.K. Markit construction PMI, eurozone producer prices, U.S. Redbook, Canada’s RBC manufacturnig PMI, U.S. ISM, durable goods and factory orders.

[B]Intra-day Market Moving News and Views
05 Aug 2015[/B] [I]02:35GMT[/I]

[B]USD/JPY[/B] - ...... Dlr rallied in NY afternoon session after comments from Atlanta Fed President Dennis Lockhart who said 'Fed is "Close" to being ready to raise short-term rates'. Price rose to 124.41 in NY afternoon n then eased to 124.26 before climbing higher to 124.48 in Asian morning on Wednesday as renewed weakness in eur/usd led to broad-based usd's strength vs its major peers. 

Earlier in Asian morning on Wednesday, data showed that Japanese services sector activity expanded in July at a slightly slower pace than the previous month, suggesting only a moderate rebound in the economy after an expected contraction in the second quarter. The Markit/Nikkei Japan Services PMI fell to a seasonally adjusted 51.2 in July from 51.8 in June.

In Asia and early Europe, dlr’s intra-day firmness vs Japanese yen in Tokyo morning on Wednesday suggests consolidation with upside bias would be seen and buying the pair on dips is recommended.
However, sharp gain above last week’s top at 124.58 is not envisaged and price should falter below 125.00 ahead of the release of a slew of U.S. eco. reports in NY morning, these include ADP employment, U.S. international trade balance, Markit services PMI and ISM-mfg PMI.

At the moment, bids from various accounts are noted in 124.20-124.00 region with stops below 123.80 whilst some offers are tipped at 124.50-60 and more above with stop touted above 124.80.

[B]Wednesday[/B] will see the release of New Zealand’s HLFS unemployment rate and labour cost index, China’s Caixin services PMI, Swiss CPI, Germany’s, eurozone and U.K. Markit services PMI respectively, eurozone retail sales, U.S. ADP National employment, Canada’s exports, imports and trade balance, U.S. ISM non-manufacturing PMI.

[B]Intra-day Market Moving News and Views
06 Aug 2015[/B] [I]02:31GMT[/I]

[B]USD/JPY[/B] - ...... Dlr traded sideways in Asia n European morning on Wednesday and despite a brief but sharp drop to 124.02 in NY morning after release of a weak ADP private payrolls data, renewed buying quickly lifted price and dlr then rallied above Asian high of 124.48, then last week's top at 124.58 to a fresh 7-week peak of 125.01 on robust U.S. ISM non-mfg PMI. However, profit-taking knocked the pair down to 124.72 in NY and dlr edged lower to 124.71 in Asian morning.  

Today, although intra-day retreat suggests consolidation is in store ahead of release of weekly U.S. jobless claims, buying dlr on dips is recommended.

At the moment, bids from various accounts are noted in 124.50-124.30 region with stops below 124.20, however, more buying interest is touted around 124.00.
On the upside, some offers are tipped at 124.90-00 and more above with stop placed above 125.30.

[B]Thursday[/B] will see the release of Australia’s unemployment rate, Japan’s leading indicator, Swiss consumer confidence, Germany’s industrial orders, U.K. industrial and manufacturing output, BOE MPC vote outcome and rate decision.

[B]Intra-day Market Moving News and Views
10 Aug 2015[/B] [I]01:39GMT[/I]

[B]USD/JPY[/B] - 124.33.. Despite Friday's intra-day sell-off from a fresh 7-week high of 125.07 to 124.10 in post-NFP NY session, DLR staged a modest bounce ahead of Asian morning, possibly on buying by Japanese importers, suggesting sideways trading is in store. 

Some offers are tipped at 124.45/55 and more above with stops noted above 124.85.
However, more selling interest is reported at 124.95/05.
At the moment, bids are touted at 124.20-10 with stops below 124.00.

[B]Data to be released this week: [/B]

Japan current account, trade balance, BoJ economic survey, consumer confidence and EU sentix index on Monday.

UK BRC retail sales; Australia NAB business conditions, business confidence, Japan machine tool orders, Italy CPI, EU economic sentiment, Germany current conditions, economic sentiment, Canada housing starts, U.S. unit labor costs, redbook retail sales, wholesale inventories and wholesale sales on Tuesday.

Japan CGPI, machinery orders, industrial output, capacity utilisation, Australia WPI, consumer sentiment, China industrial output, retail sales, France current account, Italy trade balance, UK ILO unemployment rate, claimant count, average earnings, EU industrial production and U.S. Fed budget on Wednesday.

New Zealand manufacturing PMI, Japan machinery orders, Germany CPI, HICP, France CPI, Swiss PPI, Canada new housing price, U.S. export prices, import prices, retail sales and business inventories on Thursday.

New Zealand retail sales, France GDP, Germany GDP, Italy GDP, EU GDP, inflation, Canada manufacturing sales, U.S. capacity utilisation and industrial output on Friday.

[B]Intra-day Market Moving News and Views
11 Aug 2015[/B] [I]01:09GMT[/I]

[B]USD/JPY[/B] - ..... Dlr has maintained a steady tone in Asian morning and only budged a little from 124.78 (Europe) to 124.45 in NY session due to active cross-selling in yen despite broad-based sell-off in the greenback. 

Intra-day gain in the Nikkie (currently up by approx. 100 points) following o/n rally in the Dow suggests sideways trading is in store in Asia.
However, anticipated renewed weakness in the buck on further long liquidation suggests selling the pair for another decline is still favoured today.

Offers are tipped at 124.75/85 and more above with fairly large stops touted above 125.10.
Initial bids are noted at 124.45-35 and more below with a mixture of bids and stops just below 124.00.

[B]Date to be release on Tuesday:[/B]

UK BRC retail sales; Australia NAB business conditions, business confidence, Japan machine tool orders, Italy CPI, EU economic sentiment, Germany current conditions, economic sentiment, Canada housing starts, U.S. unit labor costs, Redbook, wholesale inventories and wholesale sales

[B]Intra-day Market Moving News and Views
12 Aug 2015[/B] [I]02:22GMT[/I]

[B]USD/JPY[/B] - ..... Dlr briefly climbed above yesterday's 2-month high of 125.21 (NY) to 125.25 as a surprise move by the PBOC to weaken the mid-reference point of the yuan by another 1.618% led to broad-based gain in the greenback, both Aud and Nzd tumbled to fresh 6-year lows and Asian ccys also tanked on this China move. 

Although intra-day firmness suggests buying dlr on dips is the way to go, intra-day sell-off in the Nikkei following on weakness in the Dow and fall in U.S. Treasury yields to 3-month lows on Tuesday suggest strong gain is unlikely and upside should falter below 2015 peak at 125.86.

Bids are noted at 125.05-00 and more below with stops reported below 124.60.
On the upside, offers are tipped at 125.40/50 and more at 125.65/75 with fairly large stops above 125.90/00.
At 04:30GMT, Japan will release Jun’s industrial production and capacity utilisation.

[B]Data to be release on Wednesday: [/B]

Japan CGPI, machinery orders, industrial output, capacity utilisation, Australia WPI, consumer sentiment, China industrial output, retail sales, France current account, Italy trade balance, UK ILO unemployment rate, claimant count, average earnings, EU industrial production and U.S. Fed budget.

[B]Intra-day Market Moving News and Views
13 Aug 2015[/B] [I]02:06GMT[/I]

[B]USD/JPY[/B] - ..... Despite intra-day knee-jerk reaction when China weakened the official mid-point reference rate of the yuan for the 3rd day, market has gotten used to this action and dlr briefly dipped to 124.07 before paring intra-day loss and climbed back to 124.39. 

Looks like choppy sideways trading above yesterday’s low of 123.79 made in NY following intra-day spectacular sell-off from a fresh 2-month peak of 125.28 as Asian bourses are in the green today following a surprise strong rebound in the Dow in NY afternoon (DJI initially tumbled by 277 points in NY morning but almost erased all its intra-day losses by Wed’s closing).

Offers are tipped at 124.40 and more above with stops above 124.70 whilst initial bids are reported at 124.10-00 and more below with stops touted below 123.70.

[B]Data to be released on Thursday: [/B]

New Zealand manufacturing PMI, Japan machinery orders, Germany CPI, HICP, France CPI, Swiss PPI, Canada new housing price, U.S. retail sales, export prices, import prices, jobless claims and business inventories.

[B]Intra-day Market Moving News and Views
14 Aug 2015[/B] [I]01:27GMT[/I]

[B]USD/JPY -[/B] ...... Dlr pared Wednesday's sharp sell-off from a 2-month peak of 125.28 yesterday and climbed from intra-day low of 124.07 made in Asian morning to 124.59 due to rebound in global stocks. Price touched session high of 124.63 after in-line U.S. retail sales data.

However, intra-day broad-based dlr’s retreat pressured price to 124.25 but renewed selling in yen cross especially vs EUR & GBP lifted the pair to 124.49 in NY afternoon.

Intra-day sideways move signals further range trading is set to continue, however, yen’s o/n weakness suggests consolidation with mild upside bias is in store.
Bids are noted at 124.30-25 and more below with stops below 124.00, more stops are building below this week’s trough at 123.79.
On the upside, offers are tipped at 124.60/65 and more above with some stops reported above 125.00, however, more selling interest is touted at 125.20/30.

[B]Data to be released on Friday:[/B]

New Zealand retail sales, France GDP, Germany GDP, Italy GDP, EU GDP and inflation reports, Canada manufacturing sales, U.S. capacity utilisation and industrial output. Eurogroup will meet in Brussels at 13:00GMT on Friday to discuss Greece’s third bailout package.

[B]Intra-Day Market Moving News and Views
01 Apr 2015[/B] [I]00:28GMT[/I]

[B]USD/JPY[/B] - ..... Breaking news on Reuters quoting comments from BoJ official who says :  

Tankan show big manufacturers, non-manufacturers see labour market conditions at tightest levels since 2008;
tankan indexes show small manufacturers, non-manufacturers see labour conditions at tightest levels since 1992.

It reported earlier confidence among big Japanese manufacturers held steady in the 3 months to March and is expected to worsen slightly ahead, a closely watched central bank survey showed, in a worrying sign for the government’s efforts to boost the economy.

The headline index for big manufacturers’ sentiment was unchanged from 3 months earlier at plus 12 in March, the Bank of Japan’s quarterly “tankan” survey showed on Wednesday.

That compared with the median estimate of plus 14 in a Reuters poll of economists.

Big firms plan to cut capital expenditures by 1.2% in the fiscal year that starts April 1, the survey showed. Companies tend to be cautious about capital spending plans at the beginning of a new fiscal year and often revise them up as the year progresses.

The tankan’s sentiment indexes are derived by subtracting the number of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

[B]Wednesday[/B] will see the release of Japan’s tankan index, Australia’s building approvals, China NBS manufacturing and non-manufacturing PMI, German and eurozone manufacturing PMI, U.K. manufacturing PMI, U.S. ADP employment, ISM manufacturing and construction spending.

[B]Intra-day Market Moving News and Views
19 Aug 2015[/B] [I]09:45GMT[/I]

[B]USD/JPY[/B] - ...... Dlr traded with a soft bias in Asia and early Europe and edged lower from 124.43 to 124.21 as risk-off trades continued to weigh on the demand for the greenback vs yen.  

Order book is pretty thin right now as investors are reluctant to enter large positions ahead of the release of U.S. inflation reports and FOMC minutes in NY session.

Offers are tipped at 124.40/50 and more above with stops reported above 124.70. However, selling interest is touted at 124.80/90.
On the downside, initial bids are noted at 124.20/10 with some stops below 124.00.

[B]Intra-day Market Moving News and Views
20 Aug 2015[/B] [I]02:07GMT[/I]

[B]USD/JPY [/B]- ..... The greenback pares o/n sell-off to 123.69 in post-FOMC New York session after Fed minutes dashed market expectation of a Fed rate hike in September or anytime soon. 

As usual, after a big move in New York, Tokyo players will fade the move and traders spotted dlr buying by Japanese importers shortly after Tokyo open, dlr edged back to 123.99 before easing as softness in the Nikkei n Chinese stocks is dampening risk sentiment in the Japanese yen.

Expect consolidation above 123.69 until European open before decline resumes.
However, steep fall is unlikely as traders will wait for release of Thursday’s U.S. weekly jobless claims, existing home sales and leading indicator due out later in the day.

Offers are tipped at 124.95/05 ans more above with stops noted at 124.20. Initial bids are reported at 123.80-70 and more below with stops touted below 123.50.

[B]Data to be released on Thursday:[/B]

Germany producer prices, Switzerland’s trade balance, UK’s retail sales and CBI trends, Canada’s wholesale trade, U.S.'s existing homes sales, leading index and Philly Fed business index.

[B]Intra-day Market Moving News and Views
21 Aug 2015[/B] [I]02:16GMT[/I]

[B]USD/JPY[/B] - ..... Dlr languishes near a 3-week low of 123.21 in nervous Tokyo trading on Friday. Traders reported 'heavy' volumes changed hand in NY session, knocking the pair from 123.94 to 123.33 near NY close. 

Despite a minor short-covering bounce to 123.50 at Asian open, broad-based selloff in Asian stocks (Nikkie currently down nearly 2%) has prompted yen-buying on risk aversion, suggesting dlr would remain under pressure and extend recent decline toward chart sup at 123.01 where fairly large stops are touted below there.

Therefore, selling the pair on recovery is the way to go with offers tipped at 123.50, then 123.65/70.
Bids are noted at 123.10/00 and stops below there.

[B]Data to be released on Friday: [/B]

Japan’s Normural/JMMA manufacturing PMI, China’s Caixin manufacturing PMI, Markit’s service and manufacturing PMIs for France, Germany and euro zone, Germany Gfk consumer sentiment, UK’s PSNCR and PSNB, Canada’s CPI and retail sales, EU consumer confidence, and Markit service PMI for U.S.

[B]Intra-day Market Moving News and Views
25 Aug 2015[/B] [I]01:30GMT[/I]

[B]USD/JPY[/B] -..... Japanese officials are publicly expressing their 'dismal' on recent sudden yen's strength especially Monday's spectacular gain by the Yen to a 7-month high vs the dollar at 116.15. 

Reuters reported Japan’s top government spokesman said on Tuesday that recent movements in financial markets have been rough and that the country will continue to cooperate with G7 financial authorities and take steps if needed.

Chief Cabinet Secretary Yoshihide Suga also told a news conference that the government will continue to closely monitor market moves.
He repeated that Japan’s economy continues its gradual recovery as corporate earnings are at record highs and as the job market and wages are improving.
Japanese Finance Minister Taro Aso warned market players against pushing up the Yen too much further, saying that its spike against the dollar overnight was “rough” and undesirable for the economy.

[B]Data to be released on Tuesday: [/B]

New Zealand inflation expectations, Germany GDP, Ifo reports, UK BBA mortgage approvals, U.S. monthly home price, Redbook, Markit service PMI, consumer confidence, and new home sales.

[B]Intra-day Market Moving News and Views
26 Aug 2015 [/B] [I]01:00GMT[/I]

[B]USD/JPY [/B]- ..... Although price is currently trading roughly where it was 24 hours ago, the pair went through a roller-coaster session on Tuesday. 

Despite intra-day 'knee-jerk rise to 120.40 shortly after European midday following news of rate cuts by PBOC, dlr was unable to hold on to intra-day gain and even through global stocks rallied on the move by the China central bank.
Dlr later tumbled to 118.60 near NY close as U.S. completely initial gain and fell (Dow closed down 204 points after initial 400-plus gain).

Dlr’s intra-day rebound from 118.45 after Nikkei managed to stay in positive territory suggests consolidation is in store in Asia.
Initial bids are noted at 118.60-40 and more below with stops below 118.20, then 118.00.
On the upside, some offers are tipped at 119.40/50 and more above with some stops touted above 120.00.

[B]Data to be released on Wednesday: [/B]

New Zealand trade balance, UK nationwide house prices, CBI distributive trades, and U.S. durable goods orders. Reserve Bank of Australia Governor Glenn Stevens will speak at the National Reform Summit, hosted by The Australian and the Australian Financial Review.

Forex Forecast: Swiss recession possible, USD/JPY risks a bigger retracement, EUR heading higher

Nicole Elliott, Private Investor, joined Tip TV to offer the outlook for EUR/USD, USD/JPY, DXY and the CHF.

Key points from the video:

EUR sees upside potential

USD/JPY downside risks?

DXY pushed down by Majors

CHF – Another SNB move in sight?

EUR not crumbling any more

Elliott takes a look at the weekly technical charts for EUR/USD, noting that the pair is seen consolidating in a right angled triangle pattern. She further adds that the cross is back at January’s levels and it looks like the strong USD theme hasn’t worked out in this consensus driven trade.

EUR/USD breaking above 1.18 will see the cross gain additional upside strength.

Majors pushing DXY lower

Elliott explains how the concerns about a strong dollar in the US, combined with strength in the majors versus the USD is adding to further DXY weakness. USD/JPY sees downside risks? USD/JPY is seeing a huge weekly move after a long time, notes Elliott. She looks at the technical charts for the cross and notes that risk of a bigger retracement does exists.

See more at: Forex Forecast: Swiss recession possible, USD/JPY risks a bigger retracement, EUR heading higher | TipTV.co.uk