AceTraderFx Jun 09: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
09 Jun 2017 03:06GMT
USD/JPY - 110.25… Although sterling took ‘centre stage’ throughout Asian morning, the pair regained traction as selloff in cable led to broad-based USD strength in Australia.
Dlr met renewed buying earlier at 109.77 (AUS) and climbed to 110.35, just shy of yesterday’s 110.38 (New York) high, current gain in the Nikkie (up nearly 1%) plus steady to firm U.S. Treasury yields are supportive of the greenback and consolidation with upside bias remains. Bids are noted at 110.00-109.90 n more below with stops below 109.70.
Offers are tipped at 110.30/40 with stops above 110.40. More selling interest is touted at 110.70/75.
Market had taken ‘triple risk-event’ Thur on its stride, so trading the pair from long side is favoured. The only U.S. eco. data due out later today is wholesale inventories, so technical trading will prevail.
Data to be released on Friday:
PPI, German exports, imports, trade balance, France industrial output, budget balance, UK manufacturing production, industrial production, trade balance, U.S. wholesale inventories, Canada unemployment rate, employment change and capacity utilisation.