USD/JPY: Bulls fighting for control post Japan’s retail sales

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The US dollar remains better bid versus its Japanese counterpart in early moves, with USD/JPY heading towards previous highs, as the yen remains undermined despite the latest Japan’s retail sales figures coming in a touch better than market forecasts.

USD/JPY little changed post Japan’s data

Currently, the USD/JPY pair trades flat at 123.58, supported above key 123.50 levels. USD/JPY is seen struggling near the mid-point of the 123 handle at Tokyo open as bulls strive to keep the upper hand following the release of above estimates Japanese retail sales data.

Retail sales in the world's third-largest economy rose an annual 0.9% in June, beating expectations for a 0.5% rise but still slowing sharply from a 3% spike in May. The report comes after the government recently downgraded its forecasts for consumer prices.

USD/JPY Technical Levels

To the upside, the next resistance is located 123. 85 (July 26 High) levels and above which it could extend gains 124.12 (July 24 High) levels. To the downside immediate support might be located at 123.01 (July 27 Low) below that at 122.57 (July 3 Low) levels.

Source:FxStreet

Dollar Rises Versus Yen as Easing China Rout Lifts Risk Demand

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The dollar rose for the first time in four days versus the yen as a selloff in Chinese stocks and commodities slowed, lifting demand for riskier assets.

The greenback gained against the euro as U.S. stocks and yields on government bonds climbed as the Federal Reserve holds a two-day meeting to consider raising interest rates. The dollar rose 0.3 percent to 123.56 yen as of 5 p.m. in New York, and gained 0.3 percent to $1.1060 per euro. The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major peers, was little changed at 1,203.84.

New Zealand’s dollar rose 1.3 percent to 66.87 U.S. cents. The Australian dollar added 1 percent.

Source: Bloomberg

Japanese Stocks Rise Amid Signs China Stabilizing Ahead of Fed

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Japanese stocks rose for the first time in four days after signs of stability in Chinese markets triggered a rebound in global equities as investors await a Federal Reserve update on U.S. monetary policy.
The Topix index climbed 0.5 percent to 1,637.23 as of 9:01 a.m. in Tokyo, with all but four of its 33 industry groups rising. The Nikkei 225 Stock Average added 0.4 percent to 20,408.54. The MSCI All Country World Index snapped a five-day losing streak on Tuesday.
Futures on the Standard & Poor’s 500 Index rose less than 0.1 percent. The underlying U.S. measure increased 1.2 percent on Tuesday after the Shanghai Composite Index pared losses of as much as 5.1 percent to close 1.7 percent lower. Strong earnings from Pfizer Inc. to Ford Motor Co. also pushed U.S. shares higher. Strength in equity markets helped crude oil rebound from a four-month low.
The Topix traded at 15.6 times estimated earnings on Tuesday, compared with a multiple of 17.7 for the S&P 500.
Japanese retail sales fell 0.8 percent in June from May, less than economists’ forecasts for a 0.9 percent drop, a government report showed Wednesday.
Source: Bloomberg

Saham Asia Naik Untuk Pertama Kalinya di Enam Hari Terakhir

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Saham Asia naik untuk pertama kalinya dalam enam hari terakhir, setelah naiknya saham AS dan Eropa, karena investor menunggu data terbaru terkait kebijakan moneter dari Federal Reserve.

Indeks MSCI Asia Pacific Index naik 0,4% menjadi 140,85 pada 09:02 pagi di Tokyo. Laba yang lebih baik dari estimasi pada Pfizer Co Ford Motor Co serta akksi merger antara perusahaan-perusahaan Eropa memicu reli di luar Asia pada Selasa, dengan indeks saham global menghentikan penurunan lima hari nya. Pedagang akan mengkaji pernyataan pasca pertemuan The Fed pada Rabu, karena para otoritas menilai kekuatan pertumbuhan ekonomi di tengah jatuhnya harga komoditas dan gejolak keuangan-pasar China.

Indeks Topix Jepang naik 0,5%. Fanuc Corp merosot 0,8% di Tokyo setelah menurunkan perkiraan keuntungan setahun penuh karena permintaan penurunan pada industri teknologi informasi.

Indeks S & P / ASX 200 Australia menguat 0,4% dan Indeks Kospi Korea Selatan naik 0,8%. Indeks NZX 50 Selandia Baru sedikit berubah.(yds)

Sumber: Bloomberg

U.S. Stocks Halt Worst Slide Since January on Earnings, China

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U.S. stocks rose, ending their longest losing streak since January, amid better-than-forecast earnings and as Chinese equities pulled back from a selloff.

The Standard & Poor’s 500 Index increased 1.2 percent to 2,093.26 at 4 p.m. in New York, as the gauge climbed to its average price during the past 100 days.

Chinese equities lost 1.7 percent today, after sinking as much as 5.1 percent. Shares tumbled 8.5 percent Monday amid weaker-than-expected economic data and concern that a three-week rally sparked by unprecedented government intervention is unsustainable.

The S&P 500 fell 2.9 percent in the previous five sessions as a Chinese stock rout spurred concern about the nation’s economic growth and some corporate earnings disappointed. The index has declined for four of the last five weeks and is up 1.5 percent this month, after nearly erasing its July gain yesterday.

Source: Bloomberg