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

Trading Discussion Currencies
150

[B]Intra-day Market Moving News and Views [/B]
Update Time: [B]23 Nov 2015[/B] [I]01:19GMT[/I]

[B]USD/JPY[/B] - ...... The greenback met selling interest at 122.92 at NY close on Fri n despite a brief retreat to 122.76 in New Zealand, price found support above last Thursday's low at 122.62 n staged a rebound to 123.00 at Asian open in thin trading conditions as Japanese markets will remain closed for Labour Thanksgiving Day holiday on Monday.

Pay attention to the release of U.S. manufacturing PMI at 14:45GMT. Street forecast is for a slight decrease to 54.0 fm prev. reading of 54.1.

Offers are now raised to 123.10/20 n more above at 123.30/40 with stops building up above there whilst initial bids are noted at 122.40/50, suggesting choppy trading would be seen ahead of European open.

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

Japan manufacturing PMI. France mfg PMI, Service PMI, Germany Mfg PMI, Service PMI, EU Mfg PMI, Service PMI, U.S. national activity index, Mfg PMI and existing home sales on Monday.

Germany GDP, business climate, current conditions, expectation, France business climate, Swiss non-farm payroll, U.K. distributive trades, Italy wage inflation, trade balance, U.S. PCE prices, GDP, Redbook, caseshiller, consumer confidence, comp index,mfg shipments and services index on Tuesday.

Australia’s construction work done, Swiss consumption indicator, France consumer confidence, Italy industrial order, industrial sales, retail sales, U.S. mortgage rate, mortgage market index, purchase index, mortgage refinance index, initial jobless claims, build permits, consumption, core PCE prices, durable goods orders, PCE prices, personal consumption, personal income, home price, home sales on Wednesday.

New Zealand trade export, trade import, trade balance, Australia’s building Capex, plant/machinery Capex, capital expenditure, Swiss industrial orders, EU M3 annual growth, Germany CPI and HICP on Thursday.

Japan jobs/applicants ratio, unemployment rate, household spending, CPI, foreign bond investment, foreign invest JP stock, New Zealand business outlook, U.K. consumer confidence, national house price, Germany import price index, consumer sentiment, France consumer spending, producer prices, Italy business confidence, consumer confidence, EU business climate, inflation expectation, consumer confidence, economic sentiment, industrial sentiment, service sentiment, selling price expectation, Canada producer prices, raw material prices and U.S. U Mich sentiment prelim on Friday.

151

[B]Intra-day Market Moving News and Views
24 Nov 2015[/B] [I]01:22GMT[/I]

[B]USD/JPY [/B]- ....... Despite yesterday's rally to 123.26 in Asian session, the greenback pared its gains and retreated to 123.08 in Europe, then lower to session low at 122.78 in New York afternoon before recovering.

Dlr met renewed selling at 122.96 at Tokyo open as Japanese markets resumed trading after yesterday’s market holiday and the pair dropped to 122.79 in Tokyo morning.

There is a slew of data coming out of the U.S. today but pay particular attention to the release of GDP and GDP deflator at 13:30GMT. Street forecasts are 2.0% and 1.2% vs previous readings of 1.5% and 1.2% respectively.

Offers are now seen at 123.00/10 and more above at 123.20/30 with stops building up above there whilst initial bids are noted at 122.30/40, suggesting selling on pullback is the favored strategy.

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

Germany GDP, Ifo business climate, Ifo current conditions, Ifo expectation, France business climate, Swiss non-farm payroll, U.K. CBI distributive trades, Italy wage inflation, trade balance, U.S. PCE prices, GDP, Redbook, goods trade balance, consumer confidence, Canada Bank of Canada review.

152

[B]Intra-day Market Moving News and Views
25 Nov 2015 [/B] [I]01:55GMT[/I]

[B]USD/JPY[/B] - ........ The pair remains under pressure in Asia on renewed broad-based dlr's weakness in Asian morning. Despite staging a recovery from 122.36 to 122.64 in New York morning after upbeat Q3 U.S. GDP, price ratcheted lower on broad-based buying of yen following news of the downing of a Russian Jet by Turkish army near the Syrian border, dlr weakened to session low of 122.31 ahead of New York close before staging at rebound to 122.58 in Australia.

Dlr’s intra-day weakness to 122.32 suggests near term downside bias remains, however, reports of bids at 122.25-00 area should contain downside and price should stage a rebound later.
On the upside, offers are noted at 122.55/65 and more above with stops above 123.00.

Pay attention to a slew of U.S. data later today ahead of a holiday-shortened week, this includes weekly jobless claims, core PCE price index, Markit services PMI, new home sales and U. of Michigan consumer confidence.

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

Australia’s construction work done, Swiss consumption indicator, France consumer confidence, Italy industrial order, industrial sales, retail sales, U.S. mortgage rate, mortgage market index, purchase index, mortgage refinance index, initial jobless claims, build permits, consumption, core PCE prices, durable goods orders, PCE prices, personal consumption, personal income, home price, home sales

153

[B]Intra-day Market Moving News and Views
26 Nov 2015[/B] [I]01:54GMT[/I]

[B]USD/JPY[/B] - ....... Dlr pares yesterday's intra-day rally from European morning low of 122.26 to 122.94 in New York morning. Price traded with a soft bias in Asian morning as traders are on the sideline after yesterday's broad-based USD's swings.

With U.S. financial markets closed for Thanksgiving Day holiday, the pair is expected to move sideways initially today but as good buying interest was seen in Europe yesterday, consolidation with upside bias is expected.
Bids are noted at 122.60-50 with some stops below there, however, good buying interest is reported at 122.35-25.
Initial offers are noted at 122.75/80 and more above with stops touted above 123.10.

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

New Zealand trade reports, Australia’s building Capex, plant/machinery Capex, capital expenditure, Swiss industrial orders, EU M3 annual growth, Germany CPI and HICP. U.S. markets will be closed on Thursday due to Thanksgiving day holiday.

154

[B]Intra-day Market Moving News and Views
27 Nov 2015[/B] [I]01:28GMT[/I]

[B]USD/JPY[/B] - ..... Although dlr brief bounced to 122.73 in delayed reaction to early release of lower-than-expected Japan's inflation data (see 00:23GMT update for details), lack of follow-through buying quickly led to profit taking and dlr eased from said Asian high.

As U.S. market will close early later today in observance to Thursday’s Thankgiving Day holiday, intra-day sideways move is expected to continue, however, as early strong rebound from 122.26 (Wed) to 122.94 signals recent decline has made a low there, buying dlr on dips for at least a strong retracement of aforesaid decline is favoured.
Traders reported good buying interest at 122.50 and some stops are touted below there, however, more bids are reported above 122.26 with stops building below there.
On the upside, initial offers are noted at 122.75 and more are seen at 122.95/00 would stops above there.
[B]
Data to be released on Friday:[/B]

Japan jobs/applicants ratio, unemployment rate, household spending, CPI reports, New Zealand business outlook, U.K. consumer confidence, national house price, Germany import price index, consumer sentiment, France consumer spending, producer prices, Italy business confidence, consumer confidence, EU business climate, inflation expectation, consumer confidence, economic sentiment, industrial sentiment, service sentiment, selling price expectation, Canada producer prices, raw material prices.

155

[B]Intra-day Market Moving News and Views
30 Nov 2015[/B] [I]01:50GMT[/I]

[B]USD/JPY [/B]- … Despite usd’s broad-based renewed strength in Asia on Monday, the pair trades narrowly below Friday’s New York high at 122.88 due to intra-day cross buying in yen, suggesting range trading inside near term choppy broad range of 122.26-122.94 wud continue.

As U.S. markets will resume as normal after last Thursday’s Thanksgiving Day long weekend holiday, traders will pay attention to release of a slew of U.S. data later today, these are Chicago Nov PMI, Oct pending home sales and Dallas Fed Nov mfg business index.

Offers are noted at 122.85/95 with stops reported above 123.00, however, more selling interest is at 123.20/25.
Some bids are noted at 122.60-50 and more below with fairly large stops below 123.20.

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

Japan industrial production, retail sales, construction orders, housing start, New Zealand business outlook, Australia new home sales, business inventories, housing credit, Swiss KOF indicator, U.K. mortgage approvals, Italy CPI, producer price, consumer price, Germany CPI, HICP, Canada current account, U.S. Chicago PMI, pending homes index, pending sales change and Fed mfg bus index on Monday.

New Zealand terms of trade, Australia manufacturing index, building approvals, private house approvals, current account, net export, Japan business Capex, mfg PMI, China mfg PMI, non-mfg PMI, Swiss GDP, retail sales, mfg PMI, Italy mfg PMI, unemployment rate, GDP, France mfg PMI, Germany mfg PMI, unemployment rate, EU unemployment rate, mfg PMI, U.K. mfg PMI, Canada GDP, mfg PMI, U.S. Redbook, mfg PMI, construction spending, services revenues and service sector outlook on Tuesday.

Australia GDP, U.K. construction PMI, EU inflation, producer prices, U.S. purchase index, national employment, labour cost, productivity, New York Index and Canada rate decision on Wednesday.

Australia service index, exports, imports, trade balance, China service PMI, France unemployment rate and service PMI, Italy service PMI, Germany service PMI, EU service PMI, retail sales, refinancing rate, U.K. service PMI, U.S. initial jobless claims, mfg PMI, non-defense capital ex-air, durable goods and factory orders on Thursday.

Australia retail sales, Japan consumer confidence, Germany industrial orders, Swiss CPI, Canada labour productivity, participation rate, unemployment rate, employment change, trade balance, exports, imports, Ivey PMI, U.S. non-farm payrolls, average earning, international trade, and unemployment rate on Friday.

156

[B]Intra-day Market Moving News and Views
01 Dec 2015[/B] [I]03:12GMT[/I]

[B]USD/JPY[/B] - ..... Dlr finally pares intra-day losses ahead of Tokyo lunch session after tanking from 123.28 to 122.64 despite yesterday's cross-inspired rally from 122.69 (Asia) to as high as 123.34 in NY. Traders citing broad-based long usd liquidation as the main reason for the intra-day steep fall.

As dlr has remained under pressure despite intra-day gains in the Nikkei, suggesting near term upmove from last week’s low at 122.26 has made a top yesterday at 123.34 and choppy sideways swings are likely to continue and if the greenback continues to weaken versus its major peers, then the pair may ratchet lower in European trading.
Offers are noted at and 122.90/00 and more above with stops reported above 123.35.
Some bids are touted at 122.60-50 and more below with fairly large stops building below 122.20.

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

New Zealand terms of trade, Australia manufacturing index, building approvals, private house approvals, current account, net export, Japan business Capex, mfg PMI, China manufacturing PMI, non-manufacturing PMI, Swiss GDP, retail sales, manufacturing PMI, Italy manufacturing PMI, unemployment rate, GDP, France manufacturing PMI, Germany manufacturing PMI, unemployment rate, EU unemployment rate, manufacturing PMI, U.K. manufacturing PMI, Canada GDP, manufacturing PMI, U.S. Redbook, ISM-manufacturing PMI, construction spending, services revenues and service sector outlook

157

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

[B]USD/JPY[/B] - ...... Dlr moves narrowly in subdued Asian trading on Wednesday following yesterday's intra-day wild swings.

Although the pair fell from 123.28 to 122.64 due to broad-based long liquidation in the greenback is Asian morning, active cross-selling in yen sent price higher to 122.99.
Dlr later pared intra-day loss n climbed back to 123.20 at New York open but downbeat U.S. ISM mfg PMI (U.S. manufacturing contracted in Nov for the first time in 3 years) quickly knocked the pair lower, dlr later tumbled to 122.76 before staging a recovery near New York close.

Although early dovish comments by BoJ’s Iwata suggests sideways trading above 122.76 would continue, offers are noted at 123.10/20 and more above should prevent strong gain and price may rachet lower later in the day.
Bids are reported at 122.80-60 area with stops below there.
However, a mixture of buying interest and stops is reported at 122.25-20.

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

Australia GDP, U.K. construction PMI, EU inflation, producer prices, Canada rate decision, U.S. ADP national employment, labour cost, productivity, ISM-New York Index, Beige book.

158

[B]Intra-day Market Moving News and Views
04 Dec 2015[/B] [I]02:27GMT[/I]

[B]USD/JPY[/B]- ...... Although dlr pared o/n steep losses at Tokyo open as Japanese importers bought the greenback, offers at 122.85 checked intra-day bounce, suggesting sideways trading above yesterday's New York low at 122.30 would continue.

Having said that, intra-day broad-based decline in Asian stocks with the Nikkei index falling the most in 1 month in early trading suggests selling the dollar for yen is the way to go, at least ahead of release of the key U.S. jobs report later in the day.

Looking ahead, as market has already priced in a modest hike in the Fed rate at the next FOMC meeting, we reckon not even a robust U.S. payrolls report will be able to move dlr above its November’s 12-week high of 123.77.
Initial offers are noted at 122.85 and more at 123.00/10. Some bids are reported at 122.30-20 are with fairly large stops touted below there.

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

Australia retail sales, Japan consumer confidence, Germany industrial orders, Swiss CPI, Canada labour productivity, participation rate, unemployment rate, employment change, trade balance, exports, imports, Ivey PMI, U.S. non-farm payrolls, average earning, international trade, and unemployment rate.

159

[B]Intra-day Market Moving News and Views
07 Dec 2015[/B] [I]01:19GMT[/I]

[B]USD/JPY [/B]- ....... Despite Friday's swift retreat from 123.38 to 122.72 in volatile trading post the release of U.S. jobs report, the greenback found support and rebounded to 123.29 in New York afternoon before easing.

Renewed buying in New Zealand today has pushed price higher n the pair continues to trade with a firm undertone in Tokyo morning.

Since there is no major eco. data due today, price is likely to carry on its trading patter post the release of Friday’s jobs data.
Bids are now seen at 122.90/00 and more below at 122.70/80 with stops building up below there whilst initial offers are noted at 123.40/50, suggesting choppy trading would be seen.

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

Japan coincident indicator, leading indicator, Germany industrial output, euro zone’s Sentix index and U.S. employment trend on Monday.

New Zealand mfg sales, Japan current account, economy watchers poll, GDP, U.K. retail sales, industrial output, mfg output, Australia business conditions, business confidence, China exports, imports, trade balance, France budget balance, exports, imports, trade balance, euro zone’s GDP, U.S. business optimism, Redbook, Canada house starts and building permits on Tuesday.

Japan machinery order, Australia consumer confidence index, housing finance, China CPI, PPI, Swiss unemployment rate, Germany exports, imports, trade balance, U.S. wholesale inventories, wholesale sales and New Zealand interest rate on Wednesday.

New Zealand retail sales, Japan survey index, corporate good price, Australia employment, unemployment rate, France non-farm payroll, CPI, industrial output, inflation ex-tobacco, Swiss interest rate, U.K. housing survey, trade balance, BoE monetary policy decision, U.S. initial jobless claims, export prices, import prices, Federal budget, Canada capacity utilization and new housing price index on Thursday.

New Zealand mfg PMI, China, urban investment, industrial output, retail sales, Germany CPI, HICP, France current account, Italy, industrial output, U.S. retail sales, PPI, University of Michigan sentiment preliminary and business inventories on Friday.

160

[B]Intra-day Market Moving News and Views
08 Dec 2015[/B] [I]01:18GMT[/I]

[B]USD/JPY [/B]- ........ The greenback resumed its recent ascent post the release of Friday's upbeat U.S. jobs report and gained to session high at 123.48 in European morning yesterday, however, broad-based buying of JPY pressured the pair lower to 123.20 at New York midday.

Later, price staged a rebound to 123.40 ahead of Tokyo open before falling again to 123.22 as data showed Japan narrowly avoided a technical recession.

Since there is no major eco. data releases from U.S. today, price is likely to trade with a similar bias today.
Bids are now seen at 123.10/20 and more below at 122.90/00 with stops building up below there whilst initial offers are noted at 123.50/60 and more above at 123.70/80.

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

New Zealand manufacturing sales, Japan current account, economy watchers poll, GDP, U.K. retail sales, industrial output, manufacturing output, Australia business conditions, business confidence, China exports, imports, trade balance, France budget balance, exports, imports, trade balance, euro zone’s GDP, U.S. business optimism, Redbook, Canada house starts and building permits

161

[B]Intra-day Market Moving News and Views
09 Dec 2015[/B] [I]01:11GMT[/I]
[B]
USD/JPY[/B] - … The greenback remained under pressure in Asia yesterday and continued to ratchet lower throughout European session. Price eventually hit session low at 122.72 in New York morning, however, dlr pared its losses and staged a rebound to 123.09 before retreating again.
Later, the pair found renewed buying at 122.84 in Australia and recovered to 123.05 in Tokyo morning as data showed Japan’s core machinery orders unexpectedly rose

Pay attention to the release of wholesale inventories and wholesale sales at 15:00GMT. Street forecasts are 0.1% and 0.4% vs. previous readings of 0.5% and 0.5% respectively.

Offers are now seen at 123.10/20 and more above at 123.30/40 with stops building up above there whilst initial bids are noted at 122.50/60, suggesting selling on pullback is the favored strategy.

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

Japan machinery order, Australia consumer confidence index, housing finance, China CPI, PPI, Swiss unemployment rate, Germany exports, imports, trade balance, U.S. wholesale inventories, wholesale sales and New Zealand interest rate.

162

[B]Intra-day Market Moving News and Views
10 Dec 2015[/B] [I]01:33GMT[/I]

[B]USD/JPY [/B]- ...... The greenback fell from Asian high at 123.05 to as low as 121.83 on safe haven demand of jpy. Dlr met renewed selling interest at 122.27 in New York morning after the release of downbeat U.S. wholesale inventories  sales and tumbled to intra-day low at 121.07 in New York morning.

However, price pared its losses and staged a short-covering rebound to 121.75 ahead of Tokyo open before falling again to 121.28 in Tokyo morning.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecast is for an unchanged figure at 269K.

Offers are now seen at 121.70/80 and more above at 121.90/00 with stops building up above there whilst initial bids are noted at 121.10/20, suggesting choppy trading with near term downside bias would be seen.
[B]
Data to be released on Thursday:[/B]

New Zealand retail sales, Japan survey index, corporate good price, Australia employment, unemployment rate, France non-farm payroll, CPI, industrial output, inflation ex-tobacco, Swiss interest rate, U.K. housing survey, trade balance, BoE monetary policy decision, U.S. initial jobless claims, export prices, import prices, Federal budget, Canada capacity utilization and new housing price index.

163

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

[B]USD/JPY[/B] - ........ Despite yesterday's initial rise to 121.87 in European morning, the greenback dropped to 121.24 ahead of New York open on broad-based buying of yen.

However, price pared its losses and recovered to 121.66 near New York closing. Dlr continued to ratchet higher and rose at Tokyo open and hit 122.10 in Tokyo morning, helped by the 200 points rally in Nikkei-225 index.

Pay attention to the release of retail sales at 13:30GMT and U. of Michigan consumer sentiment at 15:00GMT.
Street forecasts are 0.3% and 91.0 vs previous readings of 0.1% and 91.3 respectively.

Offers are now raised to 122.10/20 n more abv at 122.30/40 with stops building up abv there whilst initial bids are noted at 121.50/60, suggesting choppy trading wud be seen.

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

New Zealand mfg PMI, China, urban investment, industrial output, retail sales, Germany CPI, HICP, France current account, Italy, industrial output, U.S. retail sales, PPI, University of Michigan sentiment preliminary and business inventories.

164

[B]Intra-day Market Moving News and Views
14 Dec 2015[/B] [I]01:20GMT [/I]

[B]USD/JPY [/B]- … The greenback staged a short-covering rebound from Friday’s low at 120.58 and opened higher to 121.18 in NZ today. However, renewed selling there pressured the pair lower and dlr retreated to 120.64 ahead of Tokyo open before stabilising in Tokyo morning.

As there is no major eco. data due today, market focus is now on the release Fed’s rate decision on Wednesday.
Offers are now seen at 121.10/20 and more above at 121.30/40 with stops building up above there whilst initial bids are noted at 120.30/40, suggesting selling on recovery is the favored strategy.

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

Japan large manufacturing outlook, non-manufacturing outlook, large manufacturing index, non-manufacturing index, large all industry Capex, tertiary industry index, industrial production, capacity utilization,
Italy consumer price index, U.K. house price index and Eurozone industrial production on Monday.

Australia home price index, Swiss producer and import prices, U.K. PPI input prices, RPI, RPIX, PPI core output, CPI, PPI output prices, house price, Eurozone economic sentiment, employment, Germany, current conditions, economic sentiment, leading economic index, Canada manufacturing sales, U.S. NY empire state manufacturing index, core CPI, CPI, Redbook, housing market index, net L-T flows, overall net capital flows and foreign buying on Tuesday.

New Zealand current account, inflation expectations, Australia leading indicator, France manufacturing flash PMI, service flash PMI, Germany manufacturing flash PMI, service flash PMI, Eurozone manufacturing flash PMI, service flash PMI, trade balance, inflation, U.K. average earnings, average week earning, claimant count unemployment change, unemployment rate, Swiss investor sentiment, U.S. mortgage applications, build permits, housing starts, industrial output, capacity utilization, manufacturing PMI, Fed fund target rate and overall net capital flows on Wednesday.

New Zealand GDP, Japan adjusted merchandise trade balance, merchandise trade balance total, exports, import, foreign investment in japan stocks, foreign bond investment, France business climate, Germany IFO current assessment, IFO expectations, IFO business climate, Italy global trade balance, trade balance EU, U.K. retail sales, retail sales ex-fuel, CBI industrial trends survey, Eurozone construction output, U.S. current account, initial jobless claims, continuing jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator and EIA natural gas storage change on Thursday.

New Zealand ANZ activity outlook, China MNI business sentiment indicator, Japan BoJ interest rate decision, France producer prices, Italy wage inflation and Eurozone current account on Friday.

165

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

[B]USD/JPY[/B] - ........ Despite yesterday's sharp selloff from European open high at 121.34 to as low as 120.35 at New York midday on broad-based dlr weakness, the greenback pared its losses and staged a strong rebound to 121.08 in Australia, then 121.18 in Tokyo morning and continues to trade with a firm bias.

U.S. will release its CPI mm and yy data at 13:30GMT. Street forecasts are 0.0% n 0.4% vs previous readings of 0.2% and -1.5% respectively.
Elsewhere, the FOMC begins its 2-day meeting today and market is eagerly awaiting the rate decision on Wednesday.

Bids are now seen at 120.80/90 and more below at 120.60/70 with stops building up below there whilst initial offers are noted at 121.50/60, suggesting mild upside bias remains.
Hence, buying on intra-day dips is the favored strategy.

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

Australia home price index, Swiss producer and import prices, U.K. PPI input prices, RPI, RPIX, PPI core output, CPI, PPI output prices, house price, Eurozone economic sentiment, employment, Germany, current conditions, economic sentiment, leading economic index, Canada manufacturing sales, U.S. NY empire state manufacturing index, core CPI, CPI, Redbook, housing market index, net L-T flows, overall net capital flows and foreign buying.

166

[B]Intra-day Market Moving News and Views
16 Dec 2015 [/B] [I]01:28GMT[/I]

[B]USD/JPY [/B]- ...... Despite initial retreat to session low at 120.58 at European open, the greenback rallied in European morning and rose to intra-day high at 121.79 in New York afternoon before easing as the release of in-line U.S.

CPI data supported the Fed’s view to hike its rates. Renewed buying at 121.59 in Australia pushed the pair up to 121.90 at Tokyo open.

Traders are now gearing up for the release of Fed’s rate decision at 19:00GMT and then Yellen’s press conference at 19:30. It is widely expected that the central bank will raise rates by 25 bps but one should pay attention to the press conference as Yellen would outline how the bank would go about hiking rates in the future.

Bids are now seen at 121.40/50 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 122.10/20, suggesting near term upside bias remains.

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

New Zealand current account, inflation expectations, Australia leading indicator, France manufacturing flash PMI, service flash PMI, Germany manufacturing flash PMI, service flash PMI, Eurozone manufacturing flash PMI, service flash PMI, trade balance, inflation, U.K. average earnings, average week earning, claimant count unemployment change, unemployment rate, Swiss investor sentiment, U.S. mortgage applications, build permits, housing starts, industrial output, capacity utilization, manufacturing PMI, Fed fund target rate and overall net capital flows

167

[B]Intra-day Market Moving News and Views
17 Dec 2015[/B] [I]01:36GMT[/I]

[B]USD/JPY[/B] - ....... Despite a brief rise to 122.30 immediately after the Fed hike its rate by 25 bps, the greenback fell sharply to 121.38 as Fed Chief Yellen painted a more cautious picture about future rate hikes.

However, renewed buying there lifted the pair and dlr rallied to 122.43 near New York closing, then higher to 122.55 at Tokyo open and continues to trade with a firm bias.

U.S. will release its jobless claims read at 13:30GMT.
Street forecast is for a drop to 375K from previous figure of 382K.

Bids are now raised to 122.20/30 and more below at 122.00/10 with stops building up below there whilst initial offers are noted at 123.00/10, suggesting buying on intra-day dips is the favored strategy.

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

New Zealand GDP, Japan adjusted merchandise trade balance, merchandise trade balance total, exports, import, foreign investment in japan stocks, foreign bond investment, France business climate, Germany IFO current assessment, IFO expectations, IFO business climate, Italy global trade balance, trade balance EU, U.K. retail sales, retail sales ex-fuel, CBI industrial trends survey, Eurozone construction output, U.S. current account, initial jobless claims, continuing jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator.

168

[B]Intra-day Market Moving News and Views
18 Dec 2015[/B] [I] 01:36GMT[/I]

[B]USD/JPY[/B] - ......... The greenback found renewed buying at 122.22 at European open yesterday and resumed its recent ascent to intra-day high at 122.88 in New York afternoon on dlr's broad-based strength post Fed's hike.

However, profit-taking offers there capped gains and price retreated to 122.43 in Australia before stabilising in Tokyo morning.

BoJ will announce its rate decision at around 03:00GMT. Although no change is expected there, traders should pay attention to Governor Kuroda’s press conference at 05:00GMT.
He may provide insights on whether the central bank will look to expand its QQE program.

Bids are now seen at 122.20/30 and more below at 122.00/10 with stops building up below there whilst initial offers are noted at 122.90/00, suggesting choppy trading could be seen.

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

New Zealand ANZ activity outlook, China MNI business sentiment indicator, Japan BoJ interest rate decision, France producer prices, Italy wage inflation and Eurozone current account.

169

[B]Intra-day Market Moving News and Views
18 Dec 2015[/B] [I]04:14GMT[/I]

[B]USD/JPY [/B]- ..... Dlr swung 'wildly' after BoJ kept its rate decision unchanged as widely expected, however, the central bank surprised the market by extending its QE programme period, the pair fell initially to 122.36 abd then 'jumped' to intra-day high of 123.57 when the QE change was announced.

However, price then tumbled to 122.18 shortly afterwards.

Reuters then reported the Bank of Japan maintained its base money target under its massive stimulus programme on Friday but decided to expand the types of assets it purchases, targeting longer-dated government bonds and increasing its purchases of risky assets.

In a split vote, the BOJ set up a new programme buying exchange-traded funds and said it would extend the maturity of government bonds it buys to around 12 years, beginning next year.

The BOJ said the new measures were adopted to supplement the effects of its existing quantitative and qualitative easing programme.
BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. (06:30 GMT) to explain the policy decision.