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

Trading Discussion Currencies
43

[B]Intra-day Market Moving News and Views
22 May 2015[/B] [I]07:47GMT[/I]

[B]USD/JPY - [/B]...... Although dlr has remained under pressure n then fell to 120.64 in European morning after release of unchanged BoJ monetary policy decision in Asia and then comments from BoJ Kuroda (see our prev. MMN), cross-selling in yen vs other major ccys limited intra-day losses there and price moved sideways afterwards.

Looks like choppy trading below 121.00 level would be seen ahead of NY open as investors are shifting their focus to the important U.S. inflation data at 12:30GMT.
As mentioned previously, market expects the headline CPI to rise 0.1% in April compare to 0.2% gain a month earlier.

Buying interest from various accounts is reported at 120.60-50 with mixture of bids and stops at 120.20-10.
On the upside, offers are placed 120.90-00 and then 121.10/15 with mixture of offers and stops at 121.30-121.40.

44

[B]Intra-day Market Moving News and Views
27 May 2015 [/B] [I]02:18GMT[/I]

[B]USD/JPY[/B] - ..... Despite dlr's sideways move after retreating from a fresh near 8-year peak at 123.33 to 122.84 in NY session, price staged a rebound to 123.31 in Tokyo morning following 'hawkish' comments from Richmond Fed President Jeffrey Lacker (see our previouys update) before easing.

As a slew of upbeat U.S. economic data on Tuesday has boosted demand for the greenback, suggesting upside bias remains for dlr’s uptrend to resume later today once near term consolidation is over and therefore, buying dlr on dips is the way to go.

At present, bids are noted at 123.00-122.90 with mixture of bids and stops at 122.50-40.
On the upside, offers from Japanese exporters and profit-taking are reported at 123.30-40 and more around 123.60 with real selling interest located at 123.90-00.

[B]Wednesday[/B] will see the release of BOJ’s meeting minutes, Australia’s Westpac leading index, Germany’s GfK consumer sentiment, EU financial stability review, Bank of Canada’s rate decision and rate statement, U.S. building permits.

45

[B]Intra-day Market Moving News and Views
28 May 2015[/B] [I]07:30GMT[/I]

[B]USD/JPY[/B] - ...... Dlr showed muted reaction to the comments from BoJ Governor Kuroda in European morning n continued to ratchet lower from intra-day fresh 12-1/2 year peak at 124.29 (Asia).

Although dlr’s softness in European morning suggests selling the greenback on recovery is recommended, sharp fall is unlikely to be seen as investors are shifting their focus to the U.S. jobs and housing data in NY morning, these include the weekly initial jobless claims n pending home sales.
Market expects the number of Americans filing new claims for unemployment benefits to drop 4k to 270K last week, whilst pending home sales in April to gain 0.9% vs an increase of 1.1% in preceding month.

At present, bids from various accounts are reported at 123.50-40, 123.35/30 then 123.20-10 with stops building up below 123.00.
On the upside, offers are placed at 123.90-00 and more at 124.20-30.

46

[B]Intra-day Market Moving News and Views
02 Jun 2015[/B] [I]01:55GMT[/I]

[B]USD/JPY[/B] - ...... The pair rallied to a fresh 12-1/2 year peak at 124.92 in NY session due to broad-based strength in the greenback as data showed that manufacturing activity and construction spending in the U.S. expanded at a faster pace than expected in May and added expectations for a rate hike by the Federal Reserve.

Today, as dlr has maintained a firm undertone in Tokyo morning, suggesting buying the usd/jpy pair on dips for further headway towards 125.50 is recommended.
Having said that, price needs to clear reported offers at 125.00 to make further headway later, however, reckon 2002 peak at 125.74 may hold on the 1st attempt n yield pullback later.
In NY session, investors should pay attention to the release of U.S. factory orders. Market expects the U.S. factory orders to gain 0.2% in April compare to 2.1% in preceding month.

At present, initial bids are reported at 124.60-50 and more below with some stops (not large) below 122.30.
On the upside, offers are noted at 125.00-10 with stops above 125.30.

[B]Tuesday[/B] will see the release of Australia’s current account deficit, RBA rate decision and rate statement, Germany’s unemployment rate, U.K. Markit/CIPS construction PM, mortgage approvals and mortgage lending, eurozone inflation, producer prices, U.S. Redbook, durable goods and factory orders.

47

[B]Intra-day Market Moving News and Views
03 Jun 2015[/B] [I]02:24GMT[/I]

[B]USD/JPY[/B] - ...... Dlr recovered to 124.26 in NY session on short-covering and then moved sideways after early intra-day strong retreat from a fresh 12-1/2 year peak at 125.07 to 123.75 due to broad-based weakness in the greenback led by intra-day rally in usd/eur pair.

Price climbed to 124.24 in Tokyo morning and then retreated after comments from BoJ’s Shirai (see our prev. MMN).

Although dlr continues to trade with a soft bias in Asia and selling the usd/jpy pair on recovery is recommended.
Sharp fall below 123.75 (NY) is unlikely to be seen and price should hold well above 123.00 ahead of the release of a slew of U.S. eco data in NY session, these include ADP national employment, trade balance, ISM non-mfg index and then Beige book.

Private nonfarm payrolls in the U.S. are forecast to increase by 190K (seasonally adjusted) in May update of the ADP Employment Report, more than 169K increase in April.
U.S. trade deficit is expected to narrow to $44.3 bln from $51.4 bln in preceding month whilst ISM non-mfg index to tick down to 57.0 last month from 57.8 in April.

[B]Wednesday[/B] will see the release of Australia’s GDP, China’s HSBC services PMI, U.K. Nationwide house price, Germany’s Markit services PMI, eurozone Markit services PMI final, U.K. Markit/CIPS services PMI, eurozone unemployment rate, retail sales and ECB rate decision and news conference, U.S. international trade, Canada’s exports, imports and trade balance, U.S. ISM non-manufacturing PMI.

48

[B]Intra-day Market Moving News and Views
04 Jun 2015[/B] [I]02:26GMT[/I]

[B]USD/JPY [/B]- ...... Dlr swung wildly on Wednesday as despite ratcheting higher from Asian low at 123.80 to 124.68 in NY morning, intra-day rally in eur/usd pair knocked the greenback down sharply to 124.00. Later, dlr climbed back to 124.43 on active cross-selling in yen vs other major ccys n then higher to 124.57 in Tokyo morning on Thursday.

Today’s focus for the greenback is on the release of weekly U.S. jobless claims and unit labour cost in NY morning session.
Market expects the number of Americans filing new claims for unemployment benefits to drop 3k to 279K last week, whilst the unit labor cost in the first quarter to gain 5.9% compare to previous reading of 5.0%.

At present, bids from various accounts are reported at 124.30-20, 124.10/05 then 123.80-70 with stops building up below 123.50.
On the upside, offers are placed at 124.65/70 and more at 124.80-90.

[B]Thursday[/B] will see the release of Australia’s trade balance and retail sales, Bank of England interest rate decision, U.S. initial jobless claims and Canada’s Ivey PMI.

49

[B]Intra-day Market Moving News and Views
05 Jun 2015[/B] [I]02:01GMT[/I]

[B]USD/JPY [/B]- ..... Dlr went through a 'roller-coaster' session on Thursday as despite an initial fall from Asian high of 124.57 to 123.79 in European morning, renewed buying above Tuesday's low at 123.75 together with selling in yen cross lifted price and dlr later rallied to 124.68 in NY morning following the release of upbeat jobs data (weekly jobless claims and unit labour cost) and intra-day sell off in eur/usd pair before retreating.

As price has rebounded after meeting renewed buying at 124.23 in NY afternoon, suggesting consolidation with upside bias would be seen ahead of the release of important U.S. non-farm payroll report and unemployment rate in NY morning and buying the usd/jpy pair on dips is recommended in Asia and early European sessions.
Street forecasts are looking for US economy to add 220K jobs in May compared to 223K in April.
If data come in as per expectation, it may help to cement expectations the Fed will start raising interest rates come September and give dlr a boost towards Tuesday’s fresh 12-1/2 year peak at 125.07.

Later in NY session, investors should pay attention to the speech from since New York Fed President William Dudley speaks at 16:30GMT in Minneapolis. He will speak on the economy and take questions from the Economic Club of Minneapolis. Dudley’s views are seen as closely aligned with those of Fed Chair Yellen.

[B]Friday [/B]will see the release of Japan’s leading indicator, Germany’s factory orders, U.K. consumer inflation expectations, eurozone revised GDP, U.S. non-farm payrolls and unemployment rate, Canada’s employment change, labour productivity rate.

50

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

[B]USD/JPY [/B]- … Despite dlr’s rally to a fresh near 13-year peak at 125.86 in NY morning on Fri following the release of robust U.S. non-farm payroll data, price then moved sideways for rest of the NY session as some investors decided to take profit ahead of the G7 meeting on 7-8 Jun in Germany. Dlr came under renewed selling pressure after NZ open on Mon in part due to cross-buying in yen vs other major ccys n retreated from 125.68 to 125.34 in Tokyo morning after data showed that Japanese GDP rose more-than-expected in the previous quarter .

Earlier this morning, Japan’s Cabinet Office said that Japan’s GDP rose to a seasonally adjusted 1.0%, from 0.6% in the preceding quarter, beating expectation of an increase of 0.7%. Meanwhile, a report from MoF said that Japan’s current account rose to a seasonally adjusted 1.27 trln in Apr, from 2.07 trln in the preceding month.

Expects fund follow to dominate the market today due to lack of important U.S. eco. events. Having said that, investors should pay close attention to the release of Eco Watchers Survey for May released by the Japan Cabinet Office at 05:00GMT for a closer look of region-by-region economic trends in Japan.
At present, bids are reported at 125.30-20 and more at 125.05/00 with mixture of bids and stops at 124.80-70, whilst offers are noted at 125.60-70 and then 125.95/00 with stops building up above 126.00.

[B]This week[/B] will see the release of Japan’s revised GDP, trade balance and current, China’s exports, imports and trade balance, Japan’s economic watchers, Germany’s exprots, imports, trade balance and industrial output, Canada’s housing starts and building permits [B]on Monday.[/B]

New Zealand’s manufacturing sales, U.K. BRC retail sales, China’s CPI and PPI, Australia’s NAB business confidence, Japan’s consumer confidence index, Swiss unemployment rate and CPI, U.K.goods trade balance, eurozone revised GDP, U.K. inflation report hearings, U.S. Redbook, wholesales sales and wholesales inventories [B]on Tuesday.[/B]

Japan’s machinery orders, Australia’s Westpac consumer confidence, U.K. industrial and manufacturing output, NIESR GDP estimate, U.S. Federal budget [B]on Wednesday.[/B]

New Zealand’s RBNZ interest rate decision and press conference, U.K. RICS housing survey, Japan’s business survey index, Australia’s employment change and unemployment rate, China’s industrial output and retail sales, U.S. retail sales, initial jobless claims, export prices, import prices and business inventories, Canada’s new housing price index and capacity utilization [B]on Thursday. [/B]

New Zealand’s manufacturing PMI and food price index, Japan’s capacity utilization and industrial production, Germany’s WPI, eurozone industrial production, U.S. PPI index and University of Michigan consumer sentiment index [B]on Friday.[/B]

51

[B]Intra-day Market Moving News and Views
09 Jun 2015[/B] [I]02:46GMT[/I]

[B]USD/JPY[/B] - 124.47... Dlr tumbled after failure to test last Fri's fresh near 13-year peak at 125.86 and then tumbled to as low as 124.29 in NY on Monday on long-liquidation.

Later, although dlr staged a recovery in NY afternoon and then climbed back to 124.74 in Tokyo morning on Tuesday, renewed selling interest knocked the pair down again to 124.36.

Due to lack of important eco. events from U.S. today, fund flow should dominate the market and selling the recovery on intra-day recovery is recommended. Having said that, U.S. wholesale inventories and wholesale sales for April are to be released at 14:00GMT.

At present, offers are reported at 124.60-70 and more around 124.80 with stops building up above 125.00.
On the downside, bids are tipped at 124.20-10 and then 123.95/90 with demand from Japan importers noted in 123.70-50 region.

[B]Tuesday [/B]will see the release of New Zealand’s manufacturing sales, U.K. BRC retail sales, China’s CPI and PPI, Australia’s NAB business confidence, Japan’s consumer confidence index, Swiss unemployment rate and CPI, U.K.goods trade balance, eurozone revised GDP, U.K. inflation report hearings, U.S. Redbook, wholesales sales and wholesales inventories.

52

[B]Intra-day Market Moving News and Views
11 Jun 2015[/B] [I]02:28GMT[/I]

[B]USD/JPY[/B] - ....... Although dlr tumbled to a fresh 2-week trough at 122.47 on Wednesday after BoJ's governor Kuroda hinted recent yen decline was overdone, price briefly jumped to 123.35 in Europe following comments from Japan EconMin Amari before retreating to 125.54 in NY and then moved sideways for rest of the session.

Later, the pair edged higher ahead of Asian open and climbed back to 123.19 in Tokyo morning on renewed broad-based rebound in the greenback.

Today’s main drivers for the greenback are the U.S. retail sales reports and weekly jobless claims at 12:30GMT, these will be the last batch of data ahead of the meeting of the Federal Reserve’s Open Market Committee on June 17. U.S. retail sales in May is expected to increase 1.1% and 0.7% excluding autos, reflecting a modest improvement vs. the previous month’s flat performance and 0.1% gain respectively.
Meanwhile, forecast on the number of Americans filing new claims for unemployment benefits is increase 1K to 277K.

Until then, dlr is expected to chop around 123.00 level.
At present, bids are reported at 122.80-70 and more around 122.50 with mixture of bids and stops at 122.30-20.
On the upside, offers are tipped at 123.30-40 and then 123.60-70 with stops building above 123.80.

[B]Thursday[/B] will see the release of New Zealand’s RBNZ interest rate decision and press conference, U.K. RICS housing survey, Japan’s business survey index, Australia’s employment change and unemployment rate, China’s industrial output and retail sales, U.S. retail sales, initial jobless claims, export prices, import prices and business inventories, Canada’s new housing price index and capacity utilization.

53

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

[B]USD/JPY[/B] - … Despite a brief jump to 124.19 in NY morning on Thursday following the release of ‘anticipated’ upbeat U.S. sales reports, profit-taking quickly emerged and slammed the pair sharply but briefly to a low of 123.26. Dlr later recovered to 123.74 but moved lower to 123.33 near NY close as demand for the greenback was weighed by a slide in U.S. 10-year yields (which ended a slide to 2.38%).

Fund flow should dominate the market ahead of the the release of U.S. PPI data and Uni. of Michigan consumer sentiment in NY morning (12:30GMT and 14:00GMT respectively).
Until then, dlr would remain range bound.
Offers are tipped at 123.70/80 n more above with stops reported above 124.20.
Initial bids are noted at 123.40-25 area with stops below there.

U.S. PPI is forecast to return into the positive territory in May. Market expects the PPI and PPI ex. food n energy to show a monthly gain of 0.4% n 0.1% respectively compare to -0.4% n -0.2% in preceding month.
Meanwhile, the preliminary reading for Reuters/Michigan consumer sentiment index in Junly is expected to rise from 90.7 to 91.5.

[B]Friday[/B] will see the release of New Zealand’s manufacturing PMI and food price index, Japan’s capacity utilization and industrial production, Germany’s WPI, eurozone industrial production, U.S. PPI index and University of Michigan consumer sentiment index.

54

[B]Intra-day Market Moving News and Views
15 Jun 2015[/B] [I]02:30GMT[/I]

[B]USD/JPY[/B] - ..... Despite initial brief drop to 123.12 at NZ open caused by sell off in eur/yen cross, as eur/usd's renewed weakness in Asia has resulted in broad-based rebound in the greenback following Friday's decline. Price has ratcheted higher to 123.56, suggesting choppy sideways trading with upside bias is in store.

Bids are noted at 123.20-00 area with stops touted below there, on the upside, some offers are tipped at 132.70/80 and more above with stops reported at 124.00.
Intra-day dlr’s broad-based strength suggests buying the pair on dips is therefore favoured.

[B]This week[/B] will see the release of U.K. Rightmove house price, Swiss retail sales, U.S. New York Fed manufacturing, Canada’s manufacturing sales, U.S. industrial production, capacity utilization, NAHB housing market index, foreign treasury buy, net long-term flows and overall net capital flows [B]on Monday.[/B]

Australian RBA meeting minutes, Germany’s CPI and HICP, U.K. CPI, PPI, RPI and DCLG house price index, ZEW economic sentiment, Eurozone employment change, U.S. building permits, housing starts and Redbook [B]on Tuesday.[/B]

New Zealand’s current account, Japan’s exports, imports and trade balance, Australia’s Westpac leading index, U.K. claimant count and ILO unemployment rate, BOE MOC vote outcome, Eurozone inflation, Swiss ZEW investor sentiment, Canada’s wholesale trade, FOMC rate decision and policy statement [B]on Wednesday.[/B]

New Zealand’s GDP, BOE quarterly bulletin, Japan’s tankan, China’s house prices, Swiss trade and target LIBOR rate, U.K. retail sales, Eurozone labour costs and ECB’s targeted LTRO, U.S. initial jobless claims, core CPI, current account, leading index and Philly Fed business index and Capex index [B]on Thursday.[/B]

BOJ monetary policy statement, Japan’s all industry activity and leading economic index, Germany’s producer prices, Eurozone current account and net investment flow, U.K. PSNCR, Canada’s CPI and retail sales [B]on Friday.[/B]

55

[B]Intra-day Market Moving News and Views
17 Jun 2015[/B] [I]02:21GMT[/I]

[B]USD/JPY - 123.40[/B]... Dlr erased its early intra-day gains on Tuesday and briefly dipped to 123.29 in NY morning after the release of mixed U.S. housing data.

Price later moved sideways for rest of the session as well as in Tokyo morning on Wednesday as investors are keeping their powder dry ahead of the release of important FOMC monetary policy statements later today (18:00GMT) and Fed chief Janet Yellen’s press conference 30 mins afterwards.

The U.S. Federal Reserve is widely expected to leave its benchmark federal funds rate unchanged. But market participants will sit through the statement and Yellen’s comments for clues about when and how the Fed will start hiking the rate, which has been set at a range of 0.00-0.25% since December, 2008, in the throes of the financial crisis.

Although dlr has briefly edged higher to 123.46 at Asian open, the pair is expected to gyrate inside 123.00-124.00 ahead the NY open.
At the moment, bids are reported at 123.20-10 and around 123.00 with mixture of bids and stops at 122.80-70.
On the upside, offers are tipped at 123.50-60 and more around 123.80 with stops building just above 124.00.

[B]On Tuesday[/B], Office for National Statistics (ONS) said the rate of CPI rose to a seasonally adjusted 0.1% in May, from -0.1% in April. Month-over-month, CPI increased 0.2% last month, in line with expectation and after a 0.2% increase in April. In separate reports, ONS showed that U.K. PPI input fell unexpectedly to a seasonally adjusted -0.9%, from 1.4% in the preceding month whose figure was revised up from 0.4%, while U.K. RPI rose less-than-expected to a seasonally adjusted 1.0%, from 0.9% in the preceding quarter.

56

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

[B]USD/JPY[/B] - 123.30... Although dlr extended early intra-day rally from 123.36 (Asia) to as high as 124.46 after release of Fed's unchanged rate decision in NY afternoon on Wednesday, price swiftly tumbled to 123.60 and then to session low of 123.10 due to dovish remarks by Fed chair Yellen at the post-FOMC press conference before stabilising.

Later, dlr climbed to 123.60 ahead of Asian open on Thursday and then retreated to 123.19 in part due to cross-buying in yen vs other major ccys.

Although dlr’s renewed weakness in Asian morning suggests consolidation with mild downside bias would be seen ahead of European open and selling dlr on intra-day recovery is recommended, sharp fall below 123.10 is not likely to be seen as short-covering may emerge ahead of the release of important U.S. inflation reports in NY morning.

Street forecast is for monthly CPI to increase to 0.5% in May from 0.1% in previous month, whilst core CPI to drop slightly to 0.2% from previous reading of 0.3%.
In addition, investors should pay attention to the latest weekly jobless claims, U.S. leading index n Philly Fed Business Index.
At present, offers are reported at 123.40-50 n then 123.65/70 with mixture of offers and stops at 123.90-00.
On the downside, bids are noted at 123.10-00 and more below with a mixture of more buying interest and stops near 122.70-80.

[B]Thursday[/B] will see the release of New Zealand’s GDP, BOE quarterly bulletin, Japan’s tankan, China’s house prices, Swiss trade and target LIBOR rate, U.K. retail sales, Eurozone labour costs and ECB’s targeted LTRO, U.S. initial jobless claims, core CPI, current account, leading index and Philly Fed business index and Capex index.

57

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

[B]USD/JPY - 122.95.[/B].. Despite a brief sell off to 122.48 in NY morning after release of softer-than-expected U.S. inflation data, short-covering lifted price.

Dlr later pared some of its early losses and climbed back above 123.00 level to 123.17 due to release of upbeat Philly Fed Business Index together with rise in U.S. and European stock markets.

Today’s focus for the greenback in Asia is on the announcement of BoJ monetary policy statement. The central bank is widely expected to make no change to its extremely accommodative monetary stance in its upcoming statement even as inflation runs at close to nothing, with recent comments from BoJ Governor Haruhiko Kuroda dashing expectations of near-term easing. A press conference will follow the release of the statement.

At the moment, cross-related bids are noted at 122.80-122.70 and then 122.55/50 with buying interest from various accounts located at 122.30-10 region, whilst offers are reported at 123.10-20 and more at 123.40-50 with stops building above 123.60.

[B]Friday[/B] will see the release of BOJ monetary policy statement, Japan’s all industry activity and leading economic index, Germany’s producer prices, Eurozone current account and net investment flow, U.K. PSNCR, Canada’s CPI and retail sales.

58

[B]Intra-day Market Moving News and Views
22 Jun 2015 [/B] [I]01:46GMT[/I]

[B]USD/JPY[/B] - .... The pair is trading near the lower level of its 1-1/2 week trading range of 122.47-124.46.

Although price briefly popped higher to 123.08 at NZ open due to initial sharp rise in eur/yen (due to a gap-up open in eur/usd), sellers quickly emerged and bot yen broadly, the pair fell to 122.56 in Tokyo open.

Looks like aforesaid range trading would continue as reported bids at 122.50-40 area are expected to contain downside and price may edge back to 122.90/00 later.
However, offers tipped at 123.00/20 area should cap subsequent bounce.

The only U.S. eco. data due out later today is existing home sales, unless reading is much stronger than expectation (May’s figure is expected to come in at 5.25 mln vs 5.04 mln previously), dlr is likely to remain under pressure due to near term decline in U.S. treasury yields.

This week will see the release of New Zealand’s Westpac consumer survey, Japan’s BoJ monthly economic survey, U.S. national activity index, existing home sales and eurozone consumer confidence [B]on Monday. [/B]

Australia’s CB leading index and home price index, China’s HSBC manufacturing PMI, Germany’s and eurozone Markit manufacturing PMI and services PMI respectively, U.K. inflation report hearing and CBI trends, U.S. durable goods, Redbook, monthly home price and new home sales [B]on Tuesday. [/B]

Japan’s BoJ meeting minutes and CSPI, Canada’s leading economic index, Swiss UBS consumption indicator, Germany’s Ifo business climate, U.K. BBA mortgage approvals and financial stability report, U.S. GDP, price index, PCE and building permits [B]on Wednesday. [/B]

Germany GfK consumer sentiment, U.K. CBI distributive trades, U.S. core PCE, personal consumption, KC Fed manufacturing [B]on Thursday. [/B]

New Zealand’s exports, imports and trade balance, Japan’s all household spending, CPI and unemployment rate [B]on Friday.[/B]

59

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

[B]USD/JPY [/B]- ...... Dlr pared intra-day gains in NY session on Tuesday as short-covering rebound in eur/usd led to long liquidation in the USD. During the day, dlr rallied from 122.35 (Aust.) to as high as 124.19 in NY morning following 'hawkish' comments from Fed Gov. Powell (also FOMC member) and then retreated to 123.64. Later, although dlr staged a rebound to 124.01 in NY afternoon, the pair retreated to 123.76 at Asian open on Wednesday after BoJ minutes.

Looks like choppy sideways trading below 124.19 is in store in Asia but buying on dips in anticipation for another up move toward last week’s peak at 124.46 is still the favoured strategy.
Later in NY session, investors should pay attention to the release of PCE readings n the updated estimate of 1st-quarter U.S. GDP growth from U.S. Commerce Department at 12:30GMT.

For now, bids are reported at 123.65/60 n then 123.50-40 with mixture of bids and stops at 123.20-10.
On the upside, offers from various accounts are tipped at 124.00-10 and more around 124.20 with stops building above 124.50.

[B]Wednesday[/B] will see the release of Japan’s BoJ meeting minutes and CSPI, Canada’s leading economic index, Swiss UBS consumption indicator, Germany’s Ifo business climate, U.K. BBA mortgage approvals and financial stability report, U.S. GDP, price index, PCE and building permits.

60

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

[B]USD/JPY[/B] - ...... Dlr pared its early losses in NY session on Thursday due to renewed broad-based selling in yen and extended gain from its intra-day low at 123.32 (Europe) to 123.76 in NY morning following the release of a slew of strong U.S. eco. data (weekly jobless claims, personal income, personal consumption and PCE readings).

Later, despite the release of a surprise drop in U.S. Markit service PMI for June, dlr chopped inside 123.32-123.76 for rest of the NY session after news of no deal were made for Greek debt in the second day of emergency meeting.

Today, the lack of follow-through buying in the greenback after Thursday’s release of strong U.S. eco. data and intra-day weakness in Tokyo morning suggests further choppy trading below this week’s peak at 124.38 (Wednesday) would be seen with downside bias. Therefore, selling the pair on recovery is favoured.
Fund flow should dominate the market in Asian and early European session until the release of Reuters/Michigan consumer sentiment index and the speech from Fed’s George on the Payments System in Kansas City at 14:00GMT and 16:45GMT respectively.

At the moment, bids are reported at 123.30-20 and then 123.05/00 with demand from Japanese importers tipped at 122.80-60.
On the upside, offers from various accounts are placed at 123.60-70 and more at 123.80/85 with stops building just above 124.00.

[B]Friday[/B] will see the release of New Zealand’s exports, imports and trade balance, Japan’s all household spending, CPI and unemployment rate.

61

[B]Intra-day Market Moving News and Views
29 Jun 2015[/B] [I]02:05GMT[/I]

[B]USD/JPY[/B] - … Although dlr gapped down to 122.74 at NZ open on Monday (Fri’s closing price at 123.87) as worries over the fallout from the apparent collapse of debt talks with Greece fuelled caution and broad-based buying of yen on risk aversion pressured price to a fresh 1-month trough at 122.11, short-covering lifted price ahead of Asian open and dlr later climbed back above 123.00 level to 123.19 in Tokyo morning following the ‘yen-negative’ comments from BoJ’s governor Kuroda before easing.

Expect fund flows to dominate the market until the release of U.S. pending homes sales (14:00GMT) in NY morning. Market estimates the U.S. pending home sales change to show another growth of 1.2% in May compare to the increase of 3.4% in preceding month, supporting by a gain in mortgage applications and new home sales.

At the moment, offers are noted at 123.50-60 and then 123.70/75 and 123.85/90 with stops building just above 124.00.
On the downside, bids are placed at 122.50-40 and more around 122.20 with stops emerging below 122.00.

[B]This week[/B] will see the release of Japan’s industrial output and retail sales, U.K. mortgage approvals and lending, euro zone business climate, consumer confidence, economic, industrial and services sentiment, German CPI, HICP, Canada’s producer prices and U.S. pending home sales [B]on Monday. [/B]

U.K. GfK consumer confidence, New Zealand NBNZ business outlook, Australia’s HIA new home sales, Japan’s construction order and housing starts, Germany’s retail sales, Swiss KOF indicator, Germany’s unemployment rate, U.K. current account, GDP, inflation report hearings, Canada’s GDP, U.S. Redbook, Chicago PMI and consumer confidence [B]on Tuesday. [/B]

Japan’s Tankan, China’s NBS manufacturing and non-manufacturing PMI, Australia’s building approvals, private house approvals, Japan’s manufacturing PMI, China’s HSBC manufacturing PMI, Swiss manufacturing PMI, Germany’s, eurozone and U.K. Markit manufacturing PMI respectively, U.S. ADP employment, Makit manufacturing PMI, construction spending, ISM manufacturing PMI [B]on Wednesday.[/B]

U.K. BRC shop price index, Australia’s trade balance, U.K. Nationwide house price and Markit construction PMI, eurozone producer prices, ECB monetary policy meeting, non-farm payrolls, unemployment rate, initial jobless claims, ISM, factory orders and durable goods [B]on Thursday.[/B]

Australia’s retail sales, China’s HSBC services PMI, Germany’s and U.K. Markit services PMI, eurozone retail sales [B]on Friday.[/B]

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

[B]USD/JPY [/B]- ..... Dlr rallied to 123.24 in NY on Wednesday as release of a slew of upbeat U.S. eco. data led to broad-based demand for the greenback.

Despite a brief retreat to 122.89 on profit-taking and in part due to cross-buying in yen, dlr rebounded in NY afternoon and rose to 123.43 in Tokyo morning on Thursday as gain in the Nikkei boosted risk appetite (N225 was last seen up 1.18% at 20570).

Today’s focus for the greenback is on release of the key U.S. jobs reports and then the factory orders in NY morning, until then, buying dlr on dips in anticipation of further headway to 124.00 level is recommended.
At the moment, bids are reported at 123.30/25 and then 123.15/10 with stops emerging below 123.00, whilst offers are noted at 123.60-70 and more around 123.85/90 with stops building up just above 124.00.

The non-farm payrolls figure for June (scheduled one day earlier than normal due to national holidays Stateside on Friday for the weekend’s 4th July celebrations) will be released at 12:30GMT, along with a barrage of other labour-market data such as the unemployment rate, average hourly earnings, and weekly jobless claims.

Market expects the data to show an increase of 230K payrolls in the US economy last month, down from 280K in May which was the highest since Dec 2014.
Meanwhile, the estimates for U.S. unemployment rate, averaged hourly earnings and weekly jobless claims are 5.4%, 0.2% and 270K vs previous readings of 5.5%, 0.3% and 271K respectively.

Thursday will see the release of U.K. BRC shop price index, Australia’s trade balance, U.K. Nationwide house price and Markit construction PMI, eurozone producer prices, ECB monetary policy meeting, non-farm payrolls, unemployment rate, initial jobless claims, ISM, factory orders and durable goods.