AceTraderFx Jul 16: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 16 Jul 2019 03:00GMT
USD/JPY - 107.95… Although the pair did not benefit from USD’s broad-based gain vs its G7 peers and New York session yesterday after release of upbeat U.S. Empire State mfg index due to renewed cross-buying in yen, price caught a bid at Tokyo open and briefly jumped to 108.09, suggesting choppy sideways trading above last week’s low at 107.81 (Friday) would continue.
Having said that, as dlr’s decline from July’s 108.99 high suggests recent upmove has made a top there, price is en route to re-test July’s 107.54 bottom after present choppy consolidation is over, however, loss of downward momentum should keep dlr above 107.06.
Offers are tipped at 108.10/15 with some stops above 108.25, bids are noted at 107.85-80 with stops below 107.70.
The U.S. will release a slew of eco. data starting with import n export price, retail sales, Redbook sales, industrial production, capacity utilization, mfg output, business inventories and NAHB housing market index. Therefore, one can expect dlr to move after these data come out. We also have a number of Fed officials speaking during U.S. session, please refer to our EI section for details.