AceTraderFx Dec 08: Intra-Day Market Moving News and Views - USD/JPY
Intra-Day Market Moving News and Views
08 Dec 2017 03:08GMT
USD/JPY - 113.33… Dlr stands tall in active Asian trading after snapping 3 days of losses on Thursday and later rallied to 133.15 near New York close.
The pair started to climb in Australia yesterday and ratcheted higher to 112.80 on broad-based yen selling as rebound in Asian and European stocks boosted risk appetite.
Despite a brief pullback to 112.58 in early New York trading on falling U.S. yields, price later moved higher on broad-based usd’s strength in anticipation of passage of a bill to extend U.S. govt. funding on a temporary basis.
Dlr’s intra-day gain to a 3-week high of 113.39 ahead of Tokyo lunch break on rising Asian stocks (N225 has risen by over 1% n last traded at 22772) and firm U.S. yields due to market optimism U.S. tax reform will be passed by the Dec 22 deadline suggests further gain would be seen in European trading, so buying on dips is the way to go ahead of release of key U.S. jobs data.
Bids have been raised to 113.10-00 and more at 112.80 with stops below 112.50.
Some offers are tipped at 113.40/50 and more above with stops above 113.90.
U.S. will release the blockbuster NFP, average hourly earnings, unemployment rate, private payrolls at 13:30GMT, then later capacity utilization and then University of Michigan consumer confidence and Whole inventories and sales.