AceTraderFx Nov 01: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 01 Nov 2019 04:30GMT
USD/JPY - 108.01… Dollar gained no respite in early Asian trading after y’day’s selloff to a 2-week low of 107.93 due to active safe-haven yen buying which started in European morning on media report due to renewed U.S.-China trade concerns after China said to doubt long-term trade deal is possible with U.S. President Trump, falling U.S. yields where benchmark 10-year yield hitting a 2-week low of 1.681% also weighed on the greenback.
Although price remained under pressure n fell marginally to 107.90, release of upbeat China private mfg PMI (see previous update for details) triggered short covering n gave the pair a minor lift. As dlr’s reversal from Wed’s post-FOMC near 3-month peak at 109.28 signals recent upmove has made a top, downside bias remains for price to head to 107.76, then 107.44 (38.2% r from 114.46), therefore, selling the pair on recovery is the way to go especially tonight’s U.S. jobs report comes in weaker than forecast.
Offers are tipped at 108.30/40 n more above with stops above 108.50 while some bids are noted at 107.90-80 with stops below 107.75 n more below 107.40.
T.G.I.F. for Asian traders, however, U.S. will later release the blockbuster U.S. NFP, unemployment rate, average wage earnings, then Markit mfg PMI, construction spending, ISM mfg PMI. We have a number of Fed officials speaking during NY session after recent Fed blackout ahead of the FOMC, see EI section for details of their scheduled speeches.