AceTraderFx Aug 15: Intra-Day Market Moving News and Views -USD/JPY
[B]Intra-Day Market Moving News and Views[/B]
[B]15 Aug 2017[/B] [I]03:05GMT[/I]
USD/JPY - 110.20… The greenback stands tall in active Asian trading due to return of risk appetite, leading to broad-based active yen selling as threat of an imminent conflict between U.S. and North Korea dissipated after North Korean official news agency KCNA announced in Australian morning North Korea leader Kim will watch the actions of the U.S. for a while before making a decision and WSJ reported North Korean leader Kim Jong Un has decided not to launch a threatened missile attack on Guam.
In fact, the pair was bid in New York afternoon following hawkish comments by Fed’s Dudley (see early update) and usd buying emerged ahead of Tokyo open n sent price jumping above Monday’s high, price rallied to 110.23 after tripping stops above 109.85, then above 110.00.
Current firmness suggests dlr still has legs to move higher and some stops above 110.25 are in focus, therefore, buying the buck on dips is the way to go as European traders may well buy the usd in reaction to Dudley’s comments and the easing of U.S.-N. Korea tensions.
Bids are noted at 110.00, then 109.80 with stops below 109.40.
There is a mixture of offers and stops at 110.25/30.
U.S. will release a slew of eco. data, pay attention to Jul retail sales, import n exports data, NY Empire State mfg index, Redbook retail sales, business inventories n NAHB Housing Market index. If U.S. retail sales come in stronger than estimate, then usd will get a extra lift n move higher further, if not, this’ll represent an opportunity to buy dlr at lower levels.