AceTraderFx Feb 18: Intra-Day News and Views (USD/JPY) & data to be released today

Trading Discussion Currencies
22

[B]Intra-Day Market Moving News and Views
16 Apr 2015[/B] [I]02:38GMT[/I]

[B]USD/JPY[/B] - ...... Dlr fell below Tuesday's low at 119.07 to 118.79 in NY afternoon yesterday as intra-day rally in euro amid optimistic ECB outlook n weak U.S. data triggered broad-based selling in the greenback. Despite a recovery to 119.23 near NY close, price retreated in Tokyo morning to 118.80.

Today, fund flow should dominate the market in Asia n European morning as investors are awaiting another batch of U.S. economic data in NY morning, these include weekly jobless claims, housing starts, building permits n Philly Fed Business Index.

At the moment, offers are tipped at 119.20-30 n then 119.50-60 with mixture of offers n stops located just above 119.80. On the downside, bids are placed at 118.70-60 n then 118.50-40 with stops emerging below daily key support at 118.33 (Mar low).

Japan Chief gov’t spokesman says ‘it is true that Japan is in cooperation with G7 nations regarding AIIB; not true as reported by media that Germany is asking japan to join AIIB.’

[B]Thursday[/B] will see the release of New Zealand manufacturing PMI, Australia’s unemployment rate, U.S. building permits, housing starts and Philly Fed business index.

23

[B]Intra-Day Market Moving News and Views
17 Apr 2015[/B] [I]02:48GMT[/I]

[B]USD/JPY[/B] - ....... Although dlr met renewed selling below Asian high of 119.47 on Thur n retreated from 119.43 to 118.80 in NY session as this week's slew of soft U.S. economic data continued to show signs of a slowing economy, buying interest above Wednesday's low at 118.79 lifted price to 119.12 near NY close and dlr orbits 119.00 level in Tokyo morning session.

As dlr’s overnight bounce from 118.82 suggests further choppy consolidation above 118.79 (Wed’s low) would continue with mild upside, buying the pair on dips in anticipation of another rise toward 119.40/50 is recommended. However, sharp gain above there is unlikely to be seen ahead of NY open as market participants are awaiting the important U.S. CPI data at 12:30GMT. The Mar inflation data is widely expected to rise by 0.3%, compared to 0.2% in Feb. Core CPI, excluding food n energy, is expected to come in at 0.1%, off from 0.2% last month.

At the moment, offers are tipped at 119.30-40 n then 119.50-60 with mixture of offers n stops located just above 119.80.
On the downside, bids are placed at 118.80-70 n then 118.50-40 with stops emerging below daily key sup at 118.33 (March low).

[B]Friday[/B] will see the release of Japan’s consumer confidence index, Swiss retail sales, eurozone current account, U.K. ILO unemployment rate, eurozone inflation data, U.S. CPI, Canada’s CPI and retail sales.

24

[B]Intra-Day Market Moving News and Views
21 Apr 2015[/B] [I]02:22GMT[/I]

[B]USD/JPY[/B] - ...... Dlr rebounded on Mon after a brief fall to a near 4-week trough of 118.53 at European open as investors digested the soft U.S. economic data released last week and bought back the greenback. There was also early market chatter of option defence at 118.50.

Price rallied to 119.44 in NY and then marginally higher to 119.50 in Tokyo morning in part due to cross-selling in yen as intra-day gain in the Nikkei (currently up 165 points at19799) has boasted risk sentiment.

Although dlr’s rebound from Monday’s low at 118.53 suggests consolidation with mild upside bias would be seen in Asia and early Europe, selling interest is likely to emerge at 119.75/85 due to reducing hopes on Fed rate hike in H1 of 2015 and therefore, position traders can look to sell on intra-day up move and take profit on subsequent retreat.

At the moment, bids are noted at 119.20-10 and then 119.00-118.90 with mixture of bids and stops located at 118.70-60.
On the upside, offers from various accounts are reported at 119.65-75 and around 120.00 with stops emerging just above 120.20.

[B]Tuesday [/B]will see the release of RBA meeting minutes, Japan’s lending economic index, Germany’s ZEW economic sentiment and U.S. Redbook.

25

[B]Intra-Day Market Moving News and Views
22 Apr 2015[/B] [I]02:21GMT[/I]

[B]USD/JPY [/B]- ...... Despite dlr's retreat from 119.83 to 119.43 in NY session due partly to cross-buying in yen, price edged higher in NY afternoon and climbed to 119.78 in Wednesday's Tokyo morning on renewed broad-based buying in the greenback before easing.

Today, expect fund flows to dominate the market in Asia and buying dlr on dips is recommended due to the intra-day rise in Nikkei to a fresh 15-year high (N225 is currently up 1.07% to 20122).
However, 120.00 level may limit upside in early Europe as investors are awaiting the release of U.S. housing data, these include monthly home price and existing home sales at 13:00GMT and 14:00GMT respectively.

At the moment, bids are noted at 119.40-30 and then 119.10-119.00 with mixture of bids and stops located at 118.80-70.
On the upside, offers from various accounts are reported at 119.90-00 and around 120.10 with stops emerging just above 120.30.

[B]Wednesday[/B] will see the release of Japan’s export, import and trade balance, Australia’s CPI, China’s CB leading economic index, Bank of England vote outcome, Swiss ZEW investor sentiment, U.S. monthly home prices, existing home sales and eurozone consumer confidence.

26

[B]Intra-day Market Moving News and Views
27 Apr 2015[/B] [I]02:27GMT[/I]

[B]USD/JPY [/B]- ...... Although dlr has remained under pressure following Fri's intra-day decline from 119.66 to 118.82 and then a brief drop to 118.78 in Tokyo morning, short-covering in the greenback lifted price to 119.01.

Expect fund flow to dominate the market in Asia and European morning due to the thin economic calendar but selling the greenback on intra-day recovery is recommended as diminishing expectations of Fed’s rate hike in H1 2015 after recent release of a slew of soft U.S. economic data should weigh on the demand for USD today.
Having said that, investors should pay attention to the release of U.S. Markit service PMI at 13:45GMT as market forecasts the reading to improve to 59.5 in Apr from 59.2 in preceding month and may keep price above the key support at 118.33 (reaction low from Mar’s 8-year peak at 122.03) on 1st testing.

At the moment, offers are tipped at 119.05/10 and then 119.20-30 with mixture of offers and stops located at 119.40-50.
On the downside, bids are placed at 118.80-70 and then 118.50-30 region with stops building below 118.30.

[B]This week [/B]will see the release of U.K. CBI Trends - Orders, U.S. Markit Service PMI [B]on Monday.[/B] New Zealand will be closed for ANZAC Day holiday.

Japan’s retail sales, U.K. GDP, U.S. Redbook, consumer confidence and Richmond Fed composite index [B]on Tuesday. [/B]

New Zealand’s imports, exports and trade balance, Swiss UBS consumption indicator, eurozone business climate, consumer confidence, economic sentiment, U.K. CBI distributive Trades, Germany’s CPI and HICP, Canada’s producer prices, U.S. pending homes sales, FOMC rate decision [B]on Wednesday. [/B]

New Zealand’s interest rate decision, U.K. GfK consumer confidence, Japan’s industrial output prelim., IP forecast, Australia’s imports and exports, Japan’s construction orders and housing starts, Swiss KOF indicators, Germany’s unemployment rate, eurozone flash inflation and unemployment rate, U.S. PCE price index, core PCE and Chicago PMI [B]on Thursday.[/B]

Japan’s unemployment rate, CPI and China’s NBS manufacturing PMI, Australia’s PPI, Japan’s manufacturing PMI, U.K. Markit/CIPS manufacturing PMI and mortgage approvals, U.S. ISM manufacturing PMI and construction spending[B] on Friday.[/B]

27

[B]Intra-day Market Moving News and Views
28 Apr 2015 [/B][I]00:37GMT[/I]

[B]USD/JPY [/B]- ..... Earlier report on Japanese retail sales fell 9.7% in March compared with the same month last year, when sales had surged the most in 17 years ahead of a consumption-tax increase, gov't data showed on Tuesday.

The result compared with the median forecast for a 7.3% year-on-year drop in a Reuters poll of 17 economists.
Compared with the previous month, sales fell 1.9% on a seasonally adjusted basis.

Credit ratings agency Fitch downgrades Japan to A, outlook stable from A+ and said that the outlooks on the long-term IDRS are stable, and the country ceiling is downgraded to AA fm AA+ together with the short-term foreign currency IDR is downgraded to F1 from F1+.’

[B]Tuesday [/B]will see the release of Japan’s retail sales, U.K. GDP, U.S. Redbook, consumer confidence and Richmond Fed composite index.

28

[B]Intra-day Market Moving News and Views
29 Apr 2015[/B] [I]02:15GMT[/I]

[B]USD/JPY [/B]- ....... Dlr languishes near intra-day fresh 1-week low of 118.76 in subdued trading in Asia as Japanese markets are closed at the start of Golden Week holiday.

Today’s main focus for the greenback is the FOMC’s monetary policy decision later today and its accompanied statement at 18:00GMT.
Investors are focusing on Fed’s wordings in the statement and the key areas including jobs, inflation, the economy condition and the dissenters for clues of the timing of Fed’s rate hike.

At the moment, offers are tipped at 119.00/05 and then 119.20-30 with mixture of offers and stops located at 119.50-60.
On the downside, bids are placed at 118.55/50 and then 118.40-30 with stops building below 118.30.

[B]Wednesday[/B] will see the release of New Zealand’s imports, exports and trade balance, Swiss UBS consumption indicator, eurozone business climate, consumer confidence, economic sentiment, U.K. CBI distributive trades, Germany’s CPI and HICP, Canada’s producer prices, U.S. pending homes sales and FOMC rate decision.

30

[B]Intra-day Market Moving News and Views
30 Apr 2015[/B] [I]06:15GMT[/I]

[B]USD/JPY [/B]- …BoJ releases semi-annual report-
'BOJ pushes back timing for hitting price target;
Japan likely to achieve 2 pct inflation around first half of fiscal 2016;
Japan’s economy likely to sustain positive cycle of higher incomes leading to increases in household, corporate spending;
risks to Japan’s economic outlook balanced & price outlook tilted toward downside;
considerable uncertainty exists on price outlook, mainly on medium to long term inflation expectations;
Japan’s economy to continue growing at pace above potential in fiscal 2015, 2016.‘
Japan core CPI expected +2.0% in FY2016/17 Vs +2.2% projected in Jan; Japan core CPI expected +1.9% in FY2017/18 excluding effect of sales tax hike;
compared with Jan, CPI forecasts until FY2016/17 are tilted to downside.’

31

[B]Intra-day Market Moving News and Views
06 May 2015[/B] [I]02:09GMT[/I]

[B]USD/JPY -[/B] ...... Dlr tanked from 120.51 to 119.72 in NY morning as the release of a huge widening in U.S. trade gap (trade deficit surged to its highest in nearly 6-1/2 years in Mar as imports rebounded strongly) led to rising concern of a contraction in the U.S. economy in the first quarter. However, short-covering quickly emerged and lifted dlr to 119.96 in NY afternoon.

Dlr later climbed marginally higher to 120.05 in subdued Asian trading (Japanese markets are still closed for Golden Week holiday) before retreating.

Today’s main focus for the greenback is on the release of ADP Employment Report at 12:15GMT as investors are trying to get clues for the condition of U.S. jobs market ahead of Friday’s important U.S. non-farm payroll data. Market expects the private non-farm payrolls in the U.S. to increase by 200K vs Feb’s 189K rise.

At the moment, offers are noted at 120.05-10 and more at 120.30 with stops building up above 120.50.
On the downside, bids are reported at 119.80-70 and around 119.50 with a mixture of bids and stops at 119.40-30.

[B]Wednesday [/B]will release New Zealand’s labour cost, unemployment rate, Japan market holiday, Australia retail sales, China services PMI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, retail sales, UK services PMI, Canada Ivey PMI and U.S. ADP employment.

32

[B]Intra-day Market Moving News and Views
07 May 2015[/B] [I]02:37GMT [/I]

[B]USD/JPY [/B]- … Dlr maintained a firm undertone vs the yen in Tokyo morning n extended rally from Thur’s low at 119.06 (NY morning) to 119.95 as April BoJ board meeting minutes offered no surprises on its outlook (see our prev. MMN).

Today’s main focus for the greenback is on the release of U.S. jobs reports in NY morning. Economists are expecting U.S. non-farm payrolls to show an increase of 224,000 jobs in Apr from 124K in preceding month n the jobless rate to have ticked down to 5.4% from 5.5%.

At the moment, bids are noted at 119.70-60 n more at 119.50-40 with a mixture of bids n stops at 119.30-20. On the upside, offers from various accounts are placed around 120.00 n more at 120.20-30 with stops building up above this week’s high at 120.51.

[B]Friday [/B]will see the release of Japan’s BoJ meeting minutes, Australia’s RBA monetary policy statement, China’s exports, imports, trade balance, Swiss unemployment rate, Germany’s industrial production, exports, imports, trade balance, current account, Italy industrial output and UK trade balance and important U.S. non-farm payrolls and unemployment rate.

33

[B]Intra-day Market Moving News and Views
11 May 2015[/B] [I]02:11GMT[/I]

[B]USD/JPY[/B] - ...... Despite dlr's brief fall to 119.47 (Reuters) at NZ open on Monday, renewed broad-based strength in the greenback lifted price to 119.86 ahead of Asian open before retreating to 119.72, due partly to cross-buying in yen vs other major ccys.

Looks like choppy sideways trading below 120.24 (pre non-farm high) would continue ahead of European open as focus is on the USD/majors. However, buying dlr on dips is recommended as the encouraging U.S. jobless claims and non-farm payroll last week are drawing the investors’ attention back on U.S.'s growth rather than early rate hike from Fed.

At the moment, bids are noted at 119.55/50, 119.25/20 and then 119.10-00 with stops building up below 119.00.
On the upside, cross-related offers are reported at 119.90-00 and more at 120.25/30 with selling interest from exporters located at 120.40-50.

[B]This week[/B] will see the release of New Zealand REINZ house price, Australia’s NAB business confidence, Germany’s WPI, BOE bank rate and QE total [B]on Monday. [/B]

U.K. BRC retail sales, Japan’s leading indicator, U.K. industrial and manufacturing output, U.S. Redbook and Federal budget [B]on Tuesday. [/B]

New Zealand food price index, Japan’s current account, Australia’s wage price index, Japan’s economy watchers, China industrial output and retail sales, Germany’s final CPI, GDP, HICP, U.K. claimant count unemployment, ILO unemployment rate, eurozone GDP and industrial production, U.S. export prices, import prices and retail sales [B]on Wednesday. [/B]

U.K. RICS housing survey, Japan’s foreign bond investment, New Zealand’s RBNZ offshore holdings, Canada’s new housing price index [B]on Thursday. [/B]

Japan’s consumer confidence, Swiss producer/import price, eurozone eurostat trade, U.S. NY Fed manufacturing, Canada’s manufacturing sales, U.S. industrial output, foreign treasury buys, overall net capital flows and net long-term flows [B]on Friday. [/B]

34

[B]Intra-day Market Moving News and Views
12 May 2015[/B] [I] 02:37GMT[/I]

[B] USD/JPY [/B]- … Dlr maintained a firm undertone in Asia on Tuesday as yesterday’s sell off in U.S. treasuries ( U.S. 30-year bond yields rallied 15 basis points to a fresh 5-month high of 3.0522% ) underpinned the greenback. Price extended up move from Monday’s low at 119.47 (NZ) on renewed broad-based buying in the dlr ahead of Asian open n climbed marginally higher above NY high of 120.15 to 120.18 b4 easing in part due to cross-buying in yen vs other major ccys.

Expect consolidation with upside bias remains ahead of European open and buying dlr on dips is recommended, however, sharp gain beyond last week’s peak at 120.51 is unlikely to be seen as market focus is on other dlr majors. At present, bids from various accounts are noted at 120.00-119.90 and more at 119.80-70 with a mixture of bids and stops at 119.55-45.
On the upside, offers are tipped at 120.25/30 n then 120.40-50 with more selling interest touted at 120.70/80.

A piece of hawkish news on Monday worth noting Federal Reserve Bank of San Francisco President John Williams (voting member) who told CNBC that the Fed is unlikely to provide much warning ahead of an increase in short-term interest rates.

[B]Tuesday [/B]will see the release of U.K. BRC retail sales, Japan’s leading indicator, U.K. industrial and manufacturing output, U.S. Redbook and Federal budget.

35

[B]Intra-day Market Moving News and Views
13 May 2015[/B] [I]02:09GMT[/I]

[B]USD/JPY [/B]- ....... Dlr remains under pressure in Tokyo morning on Wednesday as investors continued to adjust their positions ahead of the release of important U.S. retail sales later today in NY session.

Price fell marginally lower below 119.77/78 NY low to 119.71 in Asia before staging a recovery.

The U.S. retail sales in April is expected to show a growth of 0.2%, a substantial deceleration in growth vs. the previous month’s 0.9% advance. Meanwhile, U.S. core retail sales are expected at 0.5% excluding auto.
The lower forecasts are explained by the lack of consumer spending that is hurting the retail sector. Until then, dlr is expected to move inside 119.50-120.20 range with soft bias in Asia and early European morning session and selling on intra-day recovery is recommended.

At present, offers are tipped at 119.90-00 n around 120.10 with mixture of offers and stops at 120.25-35.
On the downside, bids are reported at 119.50-40 and more at 119.30-20 with stops building up below 119.00.

[B]Wednesday[/B] will see the release of New Zealand’s food price index, Japan’s current account, Australia’s wage price index, Japan’s economy watchers, China industrial output and retail sales, Germany’s final CPI, GDP, HICP, U.K. claimant count unemployment, ILO unemployment rate, eurozone GDP and industrial production, U.S. export prices, import prices and retail sales.

36

[B]Intra-day Market Moving News and Views
13 May 2015[/B] [I]05:13GMT[/I]

[B]USD/JPY [/B]- ......more on comments from BoJ Gov. Kuroda:

'main transmission channel of BoJ’s stimulus programme is to lower real interest rates;
Japan’s real interest rates have fallen significantly as inflation expectations have risen as a whole from a somewhat long-term perspective;
BoJ’s monetary policy does not directly target FX but excessively stronger yen has been reversed since introduction of QQE;
Japan likely to see consumer inflation hit 2 pct around first half of fiscal 2016;
won’t hesitate to adjust monetary policy if needed to achieve 2 pct inflation.
‘last year’s sales tax hike had bigger impact on economy, prices than expected but economy’s positive momentum remains intact;
don’t see any moves in asset prices or among financial institutions based on excessive expectations;
Japan’s long-term rates are low due to QQE, having positive impact on economy;
natural for Japan’s rates to rise if there are expectations that economy and prices will improve.’

37

[B]Intra-day Market Moving News and Views

14 May 2015[/B] [I]02:41GM[/I]T

[B]USD/JPY [/B]- ...... Although dlr recovered in NY afternoon following intra-day sharp selloff to a near 2-week low of 119.03 after release of weaker-than-expected U.S. retail sales data, renewed selling at 119.34 capped gain in Tokyo morning on Thursday and pressured price down to 119.16.

Looks like dlr would trade above 119.03 in Asian morning due to demand by Japanese importers.

As recent weak U.S. data have raised concerns over the strength of the country’s recovery and in turn dampened expectations for a rate hike from the Fed in Q2, selling dlr on recovery is recommended.
However, investors shoukd take profit on next decline as key support at 118.33 (reaction low from 2015 at 122.03 in March) should remain intact this week.
Looking ahead, investors should pay attention to the release of U.S. weekly jobless claims report at 12:30GMT.
Market is looking for number of Americans filing new claims for unemployment benefits to increase 10K to 275K last week but still near April’s15-year low at 262K.

At present, offers are tipped at 119.40-50 and more at 119.65/70 with mixture of offers and stops at 119.90-120.00.
On the downside, bids are placed at 119.00-118.90 and around 118.80 with buying interest from various accounts at 118.60-40 region.

[B]Thursday [/B]will see the release of U.K. RICS housing survey, Japan’s foreign bond investment, New Zealand’s RBNZ offshore holdings and Canada’s new housing price index. Besides, investors are focusing on the release of U.S. GDP revision later this month. Economists estimate the economy shrank at a 0.8 percent pace.

38

[B]Intra-day Market Moving News and Views
15 May 2015[/B] [B]02:00GMT[/B]

[B]USD/JPY[/B] - ...... Although dlr moved sideways in NY session after a rebound from 118.94 to 119.34 due to steepening of U.S. treasury yield curve between five-year notes and 30-year bonds.

Price jumped to a high of 119.49 at Tokyo open as rise in Nikkei index (currently up 0.56% to 19678) following a more than 1% gain in Dow on Thursday boosted risk appetite and triggered another wave of selling in yen vs other major ccys.

Earlier on Thursday, the release of April CGPI showed a drop of 2.1% year-on-year, matching expectations and notching the first drop in 25 months since -0.5% in March 2013 as the base effect of the April 2014 sales tax hike fades.

Today’s focus in Asia is on the speech from BoJ Governor Haruhiko Kuroda.
He will speak on monetary policy at a seminar hosted by the Yomiuri Shimbun in Tokyo from 03:40GMT to 04:40GMT.
Later in NY morning, investors should pay attention to the release of U.S. NY Fed Manufacturing Index, Industrial Output and Reuters/Michigan consumer confidence survey.

At the moment, bids are noted at 119.20-10 and more around 119.00 with mixture of bids and stops at 118.80-70.
On the upside, offers from various accounts are tipped at 119.50/55 and then 119.70-80 with stops building up just above 120.00.

[B]Friday [/B]will see the release of Japan’s consumer confidence, Swiss producer/import price, eurozone eurostat trade, U.S. NY Fed manufacturing, Canada’s manufacturing sales, U.S. industrial output, foreign treasury buys, overall net capital flows and net long-term flows.

39

[B]Intra-day Market Moving News and Views
15 May 2015 [/B] [I]08:01GMT[/I]

[B]USD/JPY - [/B]..... Dlr ratcheted higher in Asia due to cross-selling in yen vs other major ccys and rose to 119.49 and then 119.58 at European morning before retreating.

Investors are now awaiting the release of a slew of U.S. economic reports in NY morning, these include NY Fed Manufacturing Index, Industrial Output and Reuters/Michigan consumer confidence survey.
Market expects the latest readings of these reports wud show improvement in U.S. economy and if the actual figures are better or almost in line with expectations, they may give dlr a boost ahead of NY closing on Friday, however, 120.00 level is expected to remain intact today.

As present, bids are noted at 119.35/40, 119.20-10 and then around 119.00 with mixture of bids and stops at 118.80-70.
On the upside, offers from various accounts are tipped at 119.70-80 with stops building up just above 120.00.

40

[B]Intra-day Market Moving News and Views
19 May 2015[/B] [I]02:10GMT[/I]

[B]USD/JPY[/B] - ....... Dlr edged lower ahead of Asian open after overnight rally to 120.04 in NY afternoon due to USD's broad-based gain in NY session and fell briefly to 119.85 in Tokyo morning before rebounding.

Today’s focus for the greenback is on the release of U.S. housing market data in NY morning.
Market expects the U.S. housing starts n building permits to show a modest monthly gain to 1.019 mln units and 1.065 mln units in Apr respectively.
Until then, fund flow should dominate the market and buying on dips for another up move to 120.20/30 in anticipation of the greenback’s intra-day strength vs other major ccys is recommended.

At present, bids are tipped at 119.70-60 and more at 119.50/45 with mixture of bids and stops at 119.30-119.20.
On the upside, offers are placed at 120.10-120.20 and around 120.40 with selling interest from various accounts at 120.60-80 region.

[B]Tuesday[/B] will see the release of New Zealand’s PPI, Australia’s CB leading indicator and RBA meeting’s minutes, U.K. CPI, PPI, RPI and DCLG house price index, Germany’s ZEW economic sentiment, eurozone inflation report, U.S. building permits, housing starts and Redbook.

41

[B]Intra-day Market Moving News and Views
20 May 2015 [/B] [I]02:11GMT[/I]

[B]USD/JPY -[/B] ....... Dlr shrugged off surprise upbeat Japan's GDP n rose above overnight NY high of 120.74 to an 8-week peak of 120.98 in early Asian trading as a gain in the Nikkei index boosted risk appetite and triggered broad-based selling in yen.

Today’s focus for the greenback is the release of FOMC minutes at 18:00GMT and although price has continued to ratchet higher following the upbeat U.S. housing market data released on Tuesday and buying dlr on dips is recommended, sharp gain beyond 121.20 is ahead of the said minutes.

At the moment, bids are noted at 120.70-60 and around 120.50 with mixture of bids and stops at 120.30-20.
On the upside, offers from various accounts are placed at 121.20-30, 121.40-50 and more in 121.70-90 region.

[B]Wednesday[/B] will see the release of Japan’s GDP, Australia’s Westpac consumer confidence, Germany’s producer prices, ECB’s meeting, U.K. MPC vote outcome, Swiss ZEW investor sentiment, Canada’s wholesales trade and FOMC minutes.

42

[B]Intra-day Market Moving News and Views
22 May 2015[/B] [I]02:29GMT[/I]

[B]USD/JPY [/B]- ...... Dlr edged lower in Tokyo morning on Friday after meeting renewed selling at 121.09 at Asian open as a string of downbeat U.S. data Thursday added to concerns over the strength of the U.S. economy.

The main event in Asian session today is the announcement of latest BoJ views on monetary policy. BoJ is widely to stand pat on its policy after its 2-day board meeting around 03:30-04:30GMT.
After that, BoJ Governor Haruhiko Kuroda will hold a news conference at 06:30GMT to explain the board’s decision.
Until then, choppy sideways trading around 121.00 level is likely to be seen.

In NY session, focus will be on U.S. inflation reports n the speech of Federal Reserve Chair Janet Yellen. The headline CPI is expected to rise 0.1% in April compare to 0.2% gain a month earlier. Yellen is scheduled to speak on the U.S. economic outlook before the Greater Providence Chamber of Commerce Economic Outlook Luncheon.

At present, stops located just below 120.80 are in focus. Having said that, buying interest from various accounts is tipped at 120.70-50 region with mixture of bids and stops at 120.20-10.
On the upside, offers are placed at 121.10/15 and around 121.30 with stops building up just above 121.48 (Wednesday’s post-FOMC minutes high).

[B]Friday[/B] will see the release of Japan’s Tankan DI, China’s CB leading economic index, Bank of Japan monetary policy statement and press conference, Germany’s GDP, Ifo business climate, U.K. PSNCR, U.S. CPI, Canada’s CPI and retail sales. Investors are awaiting a speech on Friday by Fed Chair Janet Yellen to have any indication of the timing of interest rates hike.