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AceTraderFx Jul 10: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 10 Jul 2019 03:00GMT
USD/JPY - 108.90.. Although dlr retreated from Tuesday's near 3-week high of 108.96 (Europe) to 108.74 in New York morning on profit taking and trading broadly sideways in subdued New York afternoon, the pair regained traction at Tokyo open n climbed to 108.98 due to renewed usd's strength before easing.
Dlr's intra-day marginal gain suggests recent upmove remains in progress n would head to daily target at 109.15 after consolidation, loss of momentum would prevent strong gain in Europe and risk has increased for a minor correction ahead of key event later today where Fed's chair J. Powell will present Fed's Semiannual Monetary Report to the Congress before the Senate Banking Committee and any dovish comments by him may send the greenback tumbling, however, on the flip side, if he reiterates the Fed's rate decision is data dependent, then dlr may briefly jump on that.
For now, trading from the long side is preferred. Bids are noted at 108.75-70 with stops below 108.60.
While offers are tipped at 109.00/05 with stops above 109.15/20.
On the data front, U.S. will release MBA mortgage applications, wholesale inventories n then at 18:00GMT, the important FOMC minutes but this may have muted impact after J. Powell's testimony. We also have Fed's Geroge speaking in Helsinki at 04:50GMT, J. Powell's testimont at 14:00GMT, Fed's Bullard at 17:30GMT n also Fed's Quarles at the same time also.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
Intra-Day Market Moving News and Views
Update Time: 10 Jul 2019 03:00GMT
USD/JPY - 108.90.. Although dlr retreated from Tuesday's near 3-week high of 108.96 (Europe) to 108.74 in New York morning on profit taking and trading broadly sideways in subdued New York afternoon, the pair regained traction at Tokyo open n climbed to 108.98 due to renewed usd's strength before easing.
Dlr's intra-day marginal gain suggests recent upmove remains in progress n would head to daily target at 109.15 after consolidation, loss of momentum would prevent strong gain in Europe and risk has increased for a minor correction ahead of key event later today where Fed's chair J. Powell will present Fed's Semiannual Monetary Report to the Congress before the Senate Banking Committee and any dovish comments by him may send the greenback tumbling, however, on the flip side, if he reiterates the Fed's rate decision is data dependent, then dlr may briefly jump on that.
For now, trading from the long side is preferred. Bids are noted at 108.75-70 with stops below 108.60.
While offers are tipped at 109.00/05 with stops above 109.15/20.
On the data front, U.S. will release MBA mortgage applications, wholesale inventories n then at 18:00GMT, the important FOMC minutes but this may have muted impact after J. Powell's testimony. We also have Fed's Geroge speaking in Helsinki at 04:50GMT, J. Powell's testimont at 14:00GMT, Fed's Bullard at 17:30GMT n also Fed's Quarles at the same time also.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates