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

Trading Discussion Currencies
198

[B]Intra-Day Market Moving News and Views
02 Feb 2016[/B] [I]02:02GMT[/I]

[B]USD/JPY[/B] - ...... Although the greenback dropped to session low at 120.67 in NY, weighed down by release of poor U.S. ISM manufacturing PMI, price rebounded to 121.17 in New York afternoon.

However, renewed selling there pressured the pair lower and dlr retreated to 120.82 ahead of Tokyo open and continues to remain under pressure in Tokyo morning as Nikkei-225 trades lower in early trade.

Since there is no major eco. data due today, traders are likely to continue trading based on their reaction to BoJ’s surprise negative rate announcement.

Bids are now lowered to 120.70/80 and more below at 120.50/60 with stops building up below there whilst initial offers are noted at 121.40/50, suggesting buying on dips for a resumption of recent uptrend is still favored.

Data to be released on Tuesday:

Australia interest rate decision, Swiss retail sales, Germany unemployment rate, unemployment change, Italy unemployment rate, Euro zone unemployment rate, producer price index, U.S. Redbook and ISM New York index.

199

[B]Intra-Day Market Moving News and Views
03 Feb 2016 [/B] [I]01:20GMT[/I]

[B]USD/JPY[/B] - ..... The greenback met renewed selling at 120.86 in Europe yesterday and tumbled to 119.84 near New York closing on risk-averse buying of yen due to the drop in oil prices n selloff in U.S. stocks.

Dlr has continued to remain under pressure and dropped further to 119.49 in Tokyo morning due to the selloff in Nikkei-225 index (currently down again).

Just earlier BOJ released its minutes, Reuters reported Bank of Japan policymakers debated the feasibility of adopting supplementary steps for their massive stimulus programme, though they agreed that the broad price trend was improving steadily, minutes of their December rate review showed on Wednesday.
“The members agreed that there was no need to adjust monetary policy now as underlying trend inflation was improving steadily,” according to the minutes of the Dec. 17-18 meeting.

A few of them said that fine-tuning the BOJ’s “quantitative and qualitative easing” (QQE) would allow the central bank to swiftly ease if needed, the minutes showed.
At the December meeting, the BOJ adopted several steps to fine-tune QQE such as extending the average duration of government bonds it purchases. At a subsequent meeting in January, the BOJ stunned markets by deploying negative interest rates while maintaining QQE.

200

[B]Intra-Day Market Moving News and Views
04 Feb 2016[/B] [I]02:23GMT[/I]

[B]USD/JPY[/B] - ....... The greenback met renewed selling at 120.05 in early European morning yesterday and tumbled to 117.51 in New York morning, as comments from Fed's Dudley overshadowed the upbeat U.S. ADP jobs report.

Intra-day decliner accelerated and price dropped to session low at 117.06 in New York afternoon, however, price pared its losses and staged a short-covering rebound to 118.24 ahead of Tokyo open before retreating again.

Pay attention to the release of U.S. jobless claims at 13:30GMT.
Street forecast is for a slight increase to 280K from previous reading of 278K.

Offers are now seen at 118.10/20 and more above at 118.40/50 with stops building up above there whilst initial bids are noted at 117.20/30, suggesting selling for a resumption of recent downtrend is favored.

201

[B]Intra-Day Market Moving News and Views
05 Feb 2016[/B] [I]02:31GM[/I]T

[B]USD/JPY[/B] - ...... Although dlr 'jumped' from 118.52 to 121.42 last Friday after surprise BoJ's negative rate policy, then to 121.70 in New York, the pair fell sharply this week to as low as 116.53 yesterday.

Reuters reported earlier just days before the Bank of Japan stunned financial markets with its radical adoption of negative interest rates, members of the central bank’s own policy board had also been taken by surprise by the move.
Most of the nine board members were only told of the scheme in the week leading up to last Friday’s rate review, according to interviews with more than a dozen officials familiar with the deliberations.

The startling speed and secrecy with which such a major policy shift was executed suggest its intent was more about delivering a shock to markets that would weaken the yen, than about maximising the stimulative impact of further easing.

That would be in keeping with the single-minded style of central bank Governor Haruhiko Kuroda, people who know him well or have worked with him say, but could risk entrenching divisions between BOJ policymakers.

202

[B]11 Feb 2016[/B] 00:02GMT
[B]DAILY USD/JPY OUTLOOK[/B] - 113.58

Dlr’s intra-day selloff below Tuesday’s 114.21 low (now res) to a fresh 15-month trough of 13.12 after Fed Yellen’s testimony suggests MT fall from 2015 top at 125.86 would resume towards 112.85 after consolidation, ‘loss of momentum’ should keep dlr above 112.45.

Lower short entry for 113.00 1st and only a daily close above 114.21 signals temp. low made, 115.00.

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

New Zealand manufacturing PMI, Japan machine tool order, Swiss CPI, U.K. housing survey, U.S. initial jobless claims and Canada new housing price index.

203

[B]Intra-Day Market Moving News and Views
12 Feb 2016[/B] [I]01:44GMT[/I]

[B]USD/JPY[/B] - .... The Japanese yen took centre stage again in Asia today, not by its sharp price moves but by Japanese officials' rhetorics (see previous updates) who expressed dismay over this week's spectacular but unwelcome yen's ascent.

Although dlr briefly dipped to 111.91 when the Nikkei opened lower weakened by 4%, falling briefly below psychological 15,000 level, intra-day recovery in the N225 index plus comments by Japanese officials quickly lifted the pair to 112.60.

Looks like dlr would gain respite today n brings choppy trading above yesterday’s fresh 15-month trough at 110.99. If Asian stocks pare recent losses, one can expect a modest bounce.
Bids are noted at 116.80-60 area and more below with stops below 110.90.
Offers are tipped at 112.60/70 with some stops above there, however, more selling interest is reported at 113.00/20 area. Pay attention to release of key U.S. retail sales at 13:30GMT.

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

Germany CPI, GDP, Harmonised index of consumer prices, France nonfarm payrolls, Italy GDP, Eurozone GDP, industrial production, U.S. retail sales, import price index, export price index, leading economic index, business inventories and Reuters/University of Michigan consumer sentiment index.

204

[B]Intra-Day Market Moving News and Views
15 Feb 2016[/B] [I]01:33GMT[/I]

[B]USD/JPY[/B] - ..... The Nikkie index gain 4.3% despite early release of downbeat Japan's GDP data. Reuters reported Japan's economy contracted an annualised 1.4 percent in the final quarter of last year as consumer spending slumped, adding to headaches for policymakers already wary of damage the financial market rout could inflict on a fragile recovery.

The data underscores the challenges premier Shinzo Abe faces in dragging the economy out of stagnation, as exports to emerging markets fail to gain enough momentum to make up for soft domestic demand.

The contraction in gross domestic product (GDP) was bigger than a median market forecast for a 1.2 percent decline and followed a revised 1.3 percent increase in the previous quarter, Cabinet Office data showed on Monday. It matched a fall marked in April-June last year.

Private consumption, which makes up 60 percent of GDP, fell 0.8 percent, more than a median market forecast for a 0.6 percent decline, a sign Abe’s stimulus policies have so far failed to nudge households into boosting spending.

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

Japan’s GDP, industrial production, tertiary industry index, capacity utilization, China’s imports, exports, trade balance, U.K. house price index and Eurozone trade balance in Monday.

New Zealand retail sales, inflation expectation, Italy trade balance, U.K. CPI, core CPI, retail price index, producer price index, house price index, Germany ZEW current situation, economic sentiment, Eurozone economic sentiment, Canada manufacturing sales, U.S. housing market index, overall capital flows, foreign buying T-bond, NY Empire State manufacturing index and net long-term TIC flows on Tuesday.

Australia Westpac leading index, Japan machinery order, U.K. unemployment rate, average earning, unemployment change, Swiss investor sentiment, Eurozone construction output, U.S. mortgage application, build permits, housing starts, producer price index, Redbook, industrial production and capacity utilization on Wednesday.

New Zealand producer price index, Japan exports, imports, trade balance, Australia, unemployment rate, employment, participation rate, China CPI, producer price index, Swiss exports, imports, trade balance, France CPI, inflation, Eurozone current account, U.S. initial jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator and Canada wholesale sales on Thursday.

Japan all industry activity index, Germany producer price index, U.K. retail sales, public sector net borrowing, CB leading economic index, Eurozone consumer confidence, U.S. CPI, core CPI, Canada CPI, core CPI and retail sales on Friday.

205

[B] Intra-Day Market Moving News and Views
16 Feb 2016[/B] [I]03:45GMT[/I]

[B]USD/JPY[/B] - ..... Dlr maintains a firm undertone following yesterday's strong gain to 114.73 due to rally in European stocks. Despite initial boot of profit-taking and selling by Japanese exporters, renewed buying interest emerged at 114.29/30 lifted the pair n price ratcheted higher to marginal high of 114.77.

Although market remains on risk-on mode, modest gain in the Nikkie (currently up less than 1%) suggests a repeat of yesterday’s strong rise is unlikely.
Bids are noted at 114.30-20 and more below with stops touted below 114.00.
Offers are tipped at 114.80/90 and more above with some stops reported above 115.00. Therefore, whilst buying dlr on dips is still favoured, profit should be profited and should be taken on next rise.

206

[B]Intra-Day Market Moving News and Views
17 Feb 2016[/B] [I]03:27GMT[/I]

USD/JPY - ...... Despite yesterday's intra-day gain to 114.88 in Asia, the pair tumbled to 113.65 in European morning a selloff in oil price damped risk sentiment, price later weakened to 113.59 in New York morning before rebounding as rise in U.S. stocks triggered short-covering.

Although dlr extended said o/n gain to 114.40 in early Asian trading due to initial marginal gain in the Nikkie, price quickly erased intra-day gain and retreated to 113.87 as the Nikkie edged lower to negative territory.

Looks like choppy sideways trading with downside bias is in store as the Nikkei swing for small gain to loss.
Offers are tipped at 114.30/40 and more above with stops reported above 114.88.
Initial bids are noted at 113.90-80 and more below with stops touted below 113.50.

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

Australia Westpac leading index, Japan machinery order, U.K. unemployment rate, average earning, unemployment change, Swiss investor sentiment, Eurozone construction output, U.S. mortgage application, build permits, housing starts, producer price index, Redbook, industrial production and capacity utilization.

207

Intra-Day Market Moving News and Views
18 Feb 2016 03:38GMT

[B]USD/JPY[/B] - ...... Dollar briefly climbed to Asian morning high of 114.32 after release of downbeat Japan's trade data. Reuters reported Japan's exports fell 12.9 percent in January from a year earlier to mark a fourth straight month of declines, Ministry of Finance data showed on Thursday, in a sign of weakness in external demand amid a China-led global slowdown.

The fall compared with the median estimate of an 11.3 percent decrease in a Reuters poll of economists.
It followed an 8.0 percent drop in December.

Imports fell 18.0 percent in the year to January, versus the median estimate of a 16.0 percent decrease.
The trade balance swung to a deficit of 645.9 billion yen ($5.7 billion), against the median estimate of a 680.2 yen billion yen shortfall.

Bank of Japan board member Koji Ishida warned that the recent global market turbulence, if prolonged, could hurt Japan’s economy by damaging household and corporate sentiment. But the sharp declines in energy costs were beneficial for a fuel-importing country like Japan, adding that concerns the current oil rout may trigger a global recession were overdone.

Japan had seen several cases in the past where a spike in oil prices pushed the global economy into recession, but has seen slumping oil prices trigger recession.

Data to be released on Thursday:

New Zealand producer price index, Japan exports, imports, trade balance, Australia, unemployment rate, employment, participation rate, China CPI, producer price index, Swiss exports, imports, trade balance, France CPI, inflation, Eurozone current account, U.S. initial jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator and Canada wholesale sales.

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208

Intra-Day Market Moving News and Views
19 Feb 2016 03:25GMT

[B]USD/JPY[/B] - ..... Dollar is nursing loss during Tokyo lunch session after extending o/n decline to 112.71 as a gap-down open in the Nikkie do to a late retreat in U.S. stocks prompted another wave of broad-based yen-buying on risk aversion, price easily penetrated o/n NY low of 113.14 at Asian open, triggering stops below 113.00.

With the Nikkei index expected to come under pressure in post-lunch session, selling dlr on recovery is favoured.
Offers are tipped at 113.10 n more at 113.30/40 with stops above there.
Initial bids are noted at 112.80-70 with some stops below there.

Pay attention to release to key U.S. inflation data at 13:30GMT. In addition, later today at 15:00GMT, after last week’s testimony by Fed Chair Yellen on Capital Hill, Yellen will deliver Fed’s semi-annual Monetary Policy Report to the Congress, she will also answer questions from U.S. lawmakers, so any comments on future rate decision will affect dlr’s movement.

Data to be released on Friday:

Japan all industry activity index, Germany producer price index, U.K. retail sales, public sector net borrowing, CB leading economic index, Eurozone consumer confidence, U.S. CPI, core CPI, Canada CPI, core CPI and retail sales.

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209

[B]Intra-Day Market Moving News and Views
22 Feb 2016[/B] [I]2:15GMT[/I]

USD/JPY - ...... Dlr showed muted reaction to release of downbeat Japan's data. Reuters reported growth in Japan's manufacturing activity slowed sharply in February as new export orders contracted at the fastest pace in three years, a worrying sign that overseas demand is deteriorating rapidly as China's economy slows, a preliminary survey showed on Monday.

The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) fell to 50.2 in February on a seasonally adjusted basis from a final 52.3 in January.
But it remained above the 50 threshold that separates contraction from expansion for the 10th consecutive month.
The sub-index for new export orders fell to a preliminary 47.9 from 53.1 in January, which would indicate the biggest contraction since February 2013 if confirmed in final data.

Exports in January tumbled by the most since the global financial crisis, in a clear indication that financial market turmoil and slowing emerging market economies have eroded demand abroad.

Under pressure from faltering global demand, total new orders from customers at home and overseas also changed direction and contracted, while job creation cooled to a five-month low.

Companies cut selling prices for the third month in a row, and more sharply than in January, likely reflecting both falling commodity prices and sluggish demand.
Japan’s economy contracted more than expected in the fourth quarter due to weak household spending and exports.

While analysts expect a moderate recovery this year, stagnant wages, depressed consumer prices and faltering global growth have raised fresh doubts about Prime Minister Shinzo Abe’s ****tail of stimulus policies aimed at re-energising the economy and quashing years of deflation.

More data to be released.

210

Intra-Day Market Moving News and Views
23 Feb 2016 02:02GMT 

USD/JPY - ......Breaking news:  In the Parliament Bank of Japan Governor Haruhiko Kuroda's comment that the expanding base money alone will not immediately lead to price rises and a heightening of inflation expectations.

-expansion of base money alone won’t immediately push up prices, inflation expectations
-key transmission channel of QQE is to push down real interest rates
-it’s true inflation expectations have been somewhat weak recently
-in long run, inflation expectations are rising
-must continue QQE with negative rates until inflation is sustainably above 2 pct

While the Economy Minister Nobuteru Ishihara said he expects Group of 20 finance ministers to debate on how to cooperate in response to the recent turmoil in global financial markets, and Japan was not engaged in competitive currency devaluation and that major economies share an understanding that competitive currency devaluation is undesirable.
-recent market moves are somewhat volatile
-expect G20 to debate how to cooperate in response to recent market moves
-G20 also likely to discuss oil price volatility
-Japan is not engaged in competitive currency devaluation
-G7, G20 share understanding that competitive currency devaluation not desirable

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212

Intra-Day Market Moving News and Views
24 Feb 2016 03:03GMT

USD/JPY - ...... Dlr trades with a soft bias in Asia on Wednesday. Despite initial 1-tick fall below yesterday's New York low of 111.77 due to initial gap-down open in the Nikkie, intra-day recovery in the N225 index lifted the pair back to 112.08, however, traders are buying the yen vs euro, gbp and aud on risk aversion, suggesting sideways trading would continue ahead of European open.

Offers are tipped at 112.10/20 and more above with some stops reported above 112.40.
Some bids are reported at 111.75-65 with stops below 111.55. There is market chatter of fairly large stops building below Febuary’s 15-month trough of 110.99.

Looking ahead, pay attention to a slew of U.S. data during New York morning starting with Markit servics PMI for Febuary and January new home sales.

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213

Intra-Day Market Moving News and Views
25 Feb 2016 02:06GMT
USD/JPY - … Bank of Japan Takahide Kiuchi said in a speech to the business leaders on negative interest rates, could have a result on Japan’s financial system being destabilised by squeezing banks’ margins and reducing returns on financial investment, and that BOJ should have save that for the future.
A former market economist, Kiuchi was among four of the nine board members who dissented to the BOJ’s decision last month to adopt negative rates to prevent global market turmoil from delaying a sustained end to deflation. He has also been a lone proponent to taper the bank’s massive asset-buying programme.

More on his latest speech :
-personally felt BoJ ought to save its options now instead of introducing negative rates last month
-don’t think BoJ has no tools left to act if economic, financial environment deteriorates
-desirable for central banks to guide policy flexibly, comprehensively combining various means
-in event of crisis, BoJ should consider steps like offering temporary, ample liquidity to protect financial system
-2 pct inflation exceeds price level deemed appropriate in light of true strength of Japan’s economy
-at present, hard to achieve 2 pct inflation stably with monetary policy alone
-Japan’s economy continues to recover moderately
-Capex, wages are not rising as much as I hoped
-see global economic outlook, market developments as key risks to Japan’s economy
-if exports show clear downtrend on weak overseas growth, that may hurt Japan’s consumption, output
-tough to push up long-term inflation expectations with BoJ policy alone
-vigilant to various problems that may occur as BoJ buys and holds massive amounts of jgb, which could distort market function
-adopting negative rates risks destabilising BoJ’s asset buying
-dissented to last month’s decision as did not see need to expand stimulus with economic, price conditions stable

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214

Intra-Day Market Moving News and Views
26 Feb 2016 03:11GMT

[B]USD/JPY[/B] - ...... Despite initial rise above o/n New York high of 113.02 on higher open in the Nikkie (N225 index climbed to 2-1/2 week high of 16472) following yesterday's rally in the Dow, however, the pair pared intra-day gain on a surprise rise in the euro vs usd, price later retreated to 112.68.

Looks like dlr would consolidate below said Asian high due to broad-based usd’s weakness until European open.
Offers are tipped above 113.00/10 and more above with stops reported above 113.40.
Initial bids are noted at 112.70-60 with some stops touted below there, however, more buying interest is reported at 112.30-20.

Data to be released on Friday:

New Zealand imports, exports, trade balance, Japan CPI, U.K. consumer confidence, Germany import price index, CPI, Harmonised index of consumer prices, France producer prices, consumer spending, GDP, Italy wage inflation, Eurozone consumer confidence, services sentiment, business climate, industrial sentiment, inflation expectation, selling price expectation, U.S. GDP, personal consumption expenditures, personal income, personal spending, good trade balance, adjusted consumption and Reuters/University of Michigan consumer sentiment index.

Pay attention to release of important preliminary U.S. Q4 GDP at 13:30GMT as the pair reacted to yesterday’s upbeat U.S. durable good order n rallied after the data.

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215

Intra-Day Market Moving News and Views
29 Feb 2016 02:52GMT

[B]USD/JPY [/B]- ..... Despite Friday's rally in New York session to a 1-week high of 114.00 after release of a slew of upbeat U.S. data, dlr fell in choppy Asian trading as decline in Asian stocks except the Nikkie (China Shanghai composite was down 4% earlier) triggered broad-based yen-buying on risk aversion, price weakened to 113.30 after tripping some stops below 113.50.

Looks like choppy trading below 114.00 would be seen with downside bias as offers are noted at 113.50/60 and more at 113.85/90 with stops reported above 114.00.
Some bids are noted at 113.30-20 with stops touted below 113.00.

Do pay attention to U.S. data due out later today which includes Chicago PMI and then pending home sales data, if these data come out weaker than street forecast, then one can expect dlr to come under renewed selling.

Data to be released this week:

New Zealand building permits, Japan industrial production, retail trades, Swiss KOF leading indicator, U.K. mortgage approval, Italy CPI, Eurozone inflation, Canada producer prices, raw materials prices, current account and U.S. Chicago PMI on Monday.

New Zealand term of trade, imports, exports, Australia AIG manufacturing index, building permits, current account, interest rate decision, Japan unemployment rate, jobs/applicants ratio, all household spending, MOF business Capex, manufacturing PMI, China, non-manufacturing PMI, manufacturing PMI, Swiss retail sales, manufacturing PMI, Italy manufacturing PMI, unemployment rate, France manufacturing PMI, Germany manufacturing PMI, unemployment rate, unemployment change, Eurozone manufacturing PMI, unemployment rate, U.K. manufacturing PMI, Canada manufacturing PMI, GDP, U.S. Redbook, manufacturing PMI and construction spending on Tuesday.

Australia GDP, Swiss GDP, U.K. construction PMI, Eurozone producer prices, U.S. mortgage application and ADP national employment on Wednesday.

Australia imports, exports, trade balance, China service PMI, France service PMI, unemployment rate, Italy service PMI, Germany service PMI, U.K. service PMI, Eurozone service PMI, retail sales, U.S. initial jobless claims, unit labour costs, nonfarm productivity, service PMI, non-manufacturing PMI, durable goods, non-defense capital and factory orders on Thursday.

Australia retail sales, Italy GDP, U.K. inflation expectations, U.S. unemployment rate, non-farm payrolls, private payrolls, manufacturing payrolls, average earning, participation rate, international trade, Canada trade balance, exports, imports, labour productivity and Ivey PMI on Friday.

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216

Intra-Day Market Moving News and Views (USD/JPY)
01 Mar 2016 01:15GMT

USD/JPY - .....Earlier Japanese Finance Minister Taro Aso said that the central bank's negative interest rate policy was already having positive effects after its adoption in late January and is currently not considering to compile additional fiscal spending to prop up the economy given that the budget for next fiscal year had not yet cleared parliament.

Data out by the Ministry of Finance, the Japanese capital investment rose at a slower pace in October-December and corporate profits fell for the first time in four years in a worrying sign that flagging business spending will weigh on economic growth. The data suggests that revised gross domestic product (GDP) due on March 8 may show Japan’s economy contracted more than first reported, adding to the sense of pessimism surrounding the strength of domestic demand.

Japan’s robust employment pattern continued, however, with seasonally adjusted unemployment falling in January to 3.2 percent, versus the median estimate for 3.3 percent. The jobs to applicants ratio rose to a 24-year high of 1.28, versus the median forecast of 1.27.

Separate data showed household spending fell more than expected in January, providing further evidence that uncertainty about the economy may be behind consumers cutting expenditure.
Decelerating capital investment and corporate profits are a worrying sign that the government may need to respond with more stimulus measures to prevent business and household activity from weakening further.

A preliminary estimate showed the economy contracted an annualised 1.4 percent in October-December as consumer spending and exports slumped. The 8.5 percent annual increase in capital expenditure in October-December was slower than an 11.2 percent annual gain in July-September.
Japan’s household spending fell an annual 3.1 percent in January, more than the median estimate for a 2.7 percent year-on-year decline.

Japan’s economy is expected to return to growth in the current quarter, but there are persistent doubts about the outlook. Economists say the government’s reforms have not done enough to raise the potential growth rate.

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217

Intra-Day Market Moving News and Views
03 Mar 2016 02:30GMT

[B]USD/JPY[/B] - ..... Despite yesterday's cross-inspired selloff from New York's 2-week high of 114.56 to as low as 113.22, dlr ratcheted higher to 113.89 partly on yen-selling as intra-day minor gain in the Nikkie boosted risk sentiment, suggesting range trading is in store until European open.

Offers are tipped at 113.85/95 and more above with stops above 114.00, however, more selling interest is reported at 114.45/55.
On the downside, initial bids are noted at 113.50-10 with some stops below 113.20.

Pay attention to release of U.S. initial weekly jobless claims, ISM services PMI and the important January durable goods order ahead of Friday’s key jobs data.

Data to be released on Thursday:

Australia imports, exports, trade balance, China service PMI, France service PMI, unemployment rate, Italy service PMI, Germany service PMI, U.K. service PMI, Eurozone service PMI, retail sales, U.S. initial jobless claims, unit labour costs, nonfarm productivity, service PMI, non-manufacturing PMI, durable goods, non-defense capital and factory orders.

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218

Intra-Day Market Moving News and Views
07 Mar 2016 02:00GMT

[B]USD/JPY[/B] - ...... Despite staging an intra-day rally in post-NFP New York low of 113.12 to as high as 114.26 in New York afternoon on active cross-selling in yen, dlr pared Friday's gain and fell to 113.50 after tripping stops below 113.70 as the Nikkei opened lower on Monday, damping market's risk appetite.

Looks like said Friday’s 114.26 peak would hold from here as intra-day broad-based cross unwinding in yen suggests selling dlr on recovery is favoured.
Offers are noted at 113.85/95 n more at 114.00 with stops above 114.30.
Some bids are reported at 113.50-40 with stops touted below 113.10.

BoJ Gov Kuroda will be speaking at at a forum hosted by Japan’s Yomiuri newspaper at 03:40GMT.

Data to be released:

Japan leading economic index, coincident index, Germany factory orders, Italy producer prices, Eurozone investor confidence and U.S. employment trend on Monday.

New Zealand manufacturing sales, Japan GDP, trade balance, current account, economy watcher poll, consumer confidence index, Australia business confidence, business conditions, China imports, exports, trade balance, Swiss unemployment rate, CPI, U.K. retail sales, Germany industrial production, France imports, exports, trade balance, current account, Eurozone GDP, Canada building permits, housing starts, U.S. Redbook and economic optimism on Tuesday.

Australia consumer sentiment, Japan machine tool orders, France nonfarm payroll, U.K. manufacturing output, GDP estimate, industrial output, U.S. mortgage application, wholesale inventories, wholesale sale, Canada rate decision, New Zealand rate decision on Wednesday.

Japan domestic corporate goods price index, Australia inflation expectation, China producer price index, consumer price index, Germany export, import, trade balance, current account, France industrial output, U.K. housing survey, Eurozone interest rate decision, U.S. initial jobless claims, Canada new housing price index and capacity utilization on Thursday.

New Zealand manufacturing PMI, Germany consumer price index, Harmonised index of consumer prices,
Italy industrial output, U.K. construction output, good trade balance, Canada unemployment rate, employment change, participation rate, U.S. import prices, export prices and Reuters/University of Michigan consumer sentiment index on Friday.

China retail sales and industrial production on Saturday.

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