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Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 129857, member: 22847"] [B]AceTraderFx Jun 13: Intra-Day Market Moving News and Views -USD/JPY[/B] [B]Intra-Day Market Moving News and Views 13 Jun 2017[/B] [I]002:12GMT[/I] USD/JPY - 109.98.. In contrast to yesterday's weak undertone in Asian trading, the pair extended rebound from Monday's New York low of 109.63 to 110.11 in early Asian trading due to cross-selling in yen vs aud n the euro, suggesting range trading with upside bias is in store. Steady U.S. Treasury yields (benchmark 10-year yield is currently 2.2145%, up from Monday's low at 2.1865%) are supporting the greenback vs G4 currencies as the FOMC starts its 2-day policy meeting today and market has more or less priced in a 100% probability of 2nd quarter-point rate hike for the year on Wednesday. Therefore, trading the greenback from long side is favoured (our daily strategy has entered long at 109.65). Bids are noted at 109.80 and more at 109.65-60 with stops below 109.30, more stops are reported below last week's 109.12 low. On the upside, initial offers are tipped at 110.10/15 with some stops above there, more selling interest is touted at 110.40/50 with stops above there. Pay attention to U.S. inflation data later in the day, at 12:30GMT, May CPI and PPI will be released, if actual readings come in slightly above street forecast, the usd will be bought. Then at 12:55GMT, Redbook retail sales will come out. [/QUOTE]
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