AceTraderFx Sept 06: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 06 Sept 2019 03:00GMT
USD/JPY - 107.06… Dollar orbits 107.00 handle after swinging wildly yesterday before resuming recent upmove in New York. Despite initial jump to 106.75 in Asia Thursday on rally in U.S. yields, price fell back to 106.38 on profit taking before climbing to a near 1-month high of 117.22 in New York morning after upbeat U.S. data and rally in the Dow, however, profit taking later knocked price to 106.88.
As yesterday’s break above last week’s 106.67 high to 107.22 confirms upmove from August’s 104.46 bottom has resumed, gain to 107.49 is seen but loss of momentum would cap price below 107.82.
Bids are noted at 106.90-80 with stops below 106.70.
While offer are tipped at 107.20/30 with some stop touted above 107.50.
All eyes are on release of blockbuster U.S. NFP and average earnings, street forecast is looking for payroll to increase by 155K in August and MM earning to rise by 0.3%, if actual readings come out in line or beat estimates, then the greenback will rally, on the flip side, beware of a strong retreat.
Last but not least, pay attention to speech by Fed Chair J. Powell who will participate in “The Economic Outlook and Monetary Policy” panel discussion before event hosted by the Swiss Institute of International Studies, University of Zurich, in Zurich, Switzerland at 16:30GMT.