AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx May 31: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
31 May 2017 02:24GMT

EUR/USD - 1.1177.. The euro swung wildly in hectic Tues session. Despite falling from 1.1172 (AUS) to as low as 1.1110 at European open, renewed buying quickly lifted the pair n then denial by Greek officials they were not not opting out of bailout payment and will continue its interest payment on its loans sparked off active broad-based short covering to 1.1194.
Later, euro popped up to 1.1206 after downbeat U.S. consumer confidence and then retreated on profit talking.

Intra-day sideways move suggests temp. top has been made n range trading is in store before prospect of further gain after upbeat EU eco. data during European morning or weaker-than-expected U.S. data later in the day.
Bids are noted at 1.1170-60 with stops below 1.1140, more buying interest is reported at 1.1100/10 with stops below there.
Offers are tipped at 1.1200/10 n more above with stops above 1.1240.

Eco. calendar from the euro area countries is heavy (please refer to EI page for details).
Pay attention to speech by ECB Board member Benoit Coeure will be speak at a financial conference in Frankfurt at 07:20GMT. Then at 12:30GMT, ECB Executive Board member Sabine Lautenschlager will speak at an event in Berlin.

 

[AceTRaderForex]

AceTraderFx Jun 01: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
01 Jun 2017 02:54GMT

EUR/USD - 1.1243.. Euro stand tall in Asian trading after yesterday's impressive rally from 1.1165 (Europe) to as high as 1.1253 in New York, although subsequent higher correction to Chicago PMI led to minor pullback, the single currency edged higher to 1.1257 in Asia, just shy of its May's 6-month peak at 1.1268.

Intra-day retreat suggests range trading is in store ahead of European open, however, market remains bullish for a re-test of 1.1268, then towards next daily obj. at 1.1300 later today, so trading euro from long side is recommended.
Bids are noted at 1.1230-20 and more below with stops below 1.1200.
Offers are tipped at 1.1260/70 with stops above there, more stops are touted above 1.1300.

Ahead of Friday's key U.S. jobs report, market will focus of U.S. private ADP payrolls 1st today, then weekly jobless claims, Markit mfg PMI, ISM mfg PMI and construction spending. Federal Board of Governors Powell (voter) will deliver a speech at 12:00GMT.

 

[AceTRaderForex]

AceTraderFx Jun 02: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
02 Jun 2017 02:25GMT

USD/JPY - 111.64.. Dlr stands tall in Asian trading, price jumped above yesterday's 111.48 top made in New York just ahead of Tokyo open and hit intra-day high of 111.68 b4 easing. Traders cited buying by Japanese names after yesterday's robust U.S. private payrolls (May number came in at 285K vs forecast of 180K), rising U.S. stocks and firm U.S. Treasury yields together with the Nikkie climbing above psychological 20000 level (N225 currently up 1.2% at 20115) have boosted risk sentiment, leading to broad-based yen selling in Asia, suggesting consolidation with upside bias remains.

Bids are noted at 11.40-30 and more below with stops below 111.00.
offers are tipped at 111.65/75 with stops above 111.95, more stops are reported above previous daily res at 112.13, so buying dlr on dip is recommended.

Market focus is obviously the U.S. payrolls at 12:30GMT, street forecast is look for an increase of 185K growth vs previous reading of 211K n monthly earnings' growth of 0.2%, if actual numbers beat expectation, then USD will continue its broad-based short-covering rally, if they fall short of expectation, then be ready for another round USD bashing.

 

[AceTRaderForex]

AceTraderFx Jun 05: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
05 Jun 2017 02:25GMT

USD/JPY - 110.53.. The pair opened lower in Australia today (NZ's financial market is closed for Queen's Birthday holiday) and fell below last Fri's 110.33 to 110.27 after tripping light stops below 110.30. However, lack of follow-through selling quickly lifted price.

Dlr then ratcheted higher at Tokyo open on buying by Japanese importer on bargain hunting n price recovered to 110.60 as the Nikkie pared initial loss n moved back into slightly positive territory (currently at 20183, up a mere 6 points).

Having said that, Friday's disappointing U.S. jobs data n falling U.S. Treasury yields (benchmark 10-year yields tumbled to a 7-1/2 month low of 2.144%, currently at2.166%) should weigh on the greenback, so selling on recovery is recommended for re-test of May's 110.24 low, then later 110.00.
Offers are tipped at 110.60/70 n more above with stops above 111.00.
Initial bids are noted at 110.30-20 with stops below there, more stops are touted below 110.00.

Pay attention to release of a slew of U.S. eco. data later in the day starting with labor costs, non-farm productivity, Markit services PMI, factory orders n ISM non-mfg (services) PMI. If some of these data come out weaker than market expectation, traders will sell the buck again.

 

[AceTRaderForex]

AceTraderFx June 06: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
06 Jun 2017 03:13GMT

EUR/USD - 1.1272.. The single currency regained traction in Asian trading on Tuesday after falling yesterday on broad-based liquidation in the euro from 1.1284 (AUS) to 1.1235 in New York morning.
However, as intra-day selloff in dlr/yen has led to broad-based usd weakness (except vs aud), suggesting market is more inclined to re-test last Friday's near 7-month peak at 1.1285 in European session, so buying the pair on dips is therefore favoured.

Bids are noted at 1.1260-50 n more below with stops below 1.135.
Offers are tipped at 1.1275/85 with stops above there, there is market chatter of option barrier at 1.1300 with some stops above there.

Eco calendar is little light with EU Sentix investor confidence index, and EU April retail sales being the only data due out during European morning.

 

[AceTRaderForex]

AceTraderFx June 07: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
07 Jun 2017 02:10GMT

USD/JPY - ..... Dlr is nursing loss in relatively subdued Asian trading after yesterday's sharp fall from 110.53 to as low as 109.23. Traders cited reasons for yesterday's decline on active broad-based yen buying due to risk aversion ahead of potential risk events on so-called Super Thursday where U.K. voters go to national polling stations, ECB will hold its monetary policy meeting and ex-FBI Chief James Comey will testify (14:00GMT) before a U.S. Senate panel.

The fact that dlr is unable to stage a strong rebound from yesterday's 6-week trough at 109.23 (New York) suggests daily downside bias remains as falling U.S. Treasury yields are the biggest bearish factor on recent descent, so selling the pair on recovery is the way to go.
Offers are tipped at 109.60/70 and more above with stops reported above 110.00.
Initial bids are noted at 109.30-20 with stops below 109.00.

U.S. eco. calendar is extremely light with MBA mortgage applications (if you ever follow this) being the only data due out, so traders will focus on Treasury yields closely, the benchmark 10-year dropped to a fresh 7-month low of 2.129% on Tuesday.

 

[AceTRaderForex]

AceTraderFx Jun 08: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Moving News and Views
08 Jun 2017 03:30GMT

USD/JPY - ..... Dlr finally cut recent losing streak and rallied from a fresh 6-week trough of 109.12 (Europe) on Wednesday to 109.88 near New York close as rising U.S. Treasury yields (benchmark 10-year yield climbed back to 2.183% from Tuesday's 7-month low at 2.129% and currently at 2.17%) triggered broad-based yen selling.

The pair met renewed buying in Australia at 107.73 and rose to 110.01 after tripping light stops above 109.90 before retreating. Looks like said yesterday's low print would be the bottom for the week and choppy sideways swings are in store and stops above 110.20 are now in focus.
Bids are noted at 109.75-65 with stops below 109.40, more buying interest is reported at 109.20/10.
Offers are tipped at 110.00/05 and more at 110.20 with stops above there.

The only U.S. data due out today is weekly jobless claims but market focus is on the so-called 'triple risk-event Thursday' starting with U.K. election, then ECB Draghi's press conference at 12:30GMT n last but not the least, live testimony by ex-FBI chief James Comey before the Senate Intelligence Committee at 14:00GMT.

 

[AceTRaderForex]

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.

 

[AceTRaderForex]

AceTraderFx Jun 12: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
12 Jun 2017 02:01GMT

USD/JPY - 110.19.. Despite last Friday's impressive rise from 109.77 (AUS) to as high as 110.81 in New York due to broad-based usd's strength on the back of selloff in sterling and rising U.S. Treasury yields, the pair retreated in New York afternoon as US yields eased together with retreat in U.S. stocks and inta-day softness in early Asian trading, suggesting 1st leg of correction from last Wednesday's 6-week bottom at 109.12 has ended and consolidation with downside bias is in store.

Therefore, selling dlr on recovery is favoured but profit should be taken on subsequent decline.
Offers are tipped at 110.45/50 n more above with stops reported above 110.85, bids are noted at 110.15-10 with stops below 110.00.
More stops are touted below 109.70 with there is market talk of good buying interest at 109.40-20 area.

No U.S. eco. data is due out today except U.S. Fed budget at 18:00GMT, however, main focus is the 2-day FOMC meeting which starts tom where the Fed is widely expected to hike its key rates for the 2nd time this year on Wednesday, so dlr should be supported on dips initially this week.

 

[AceTRaderForex]

AceTraderFx Jun 13: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
13 Jun 2017 002:12GMT

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.

 

[AceTRaderForex]

AceTraderFx Jun 14: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
14 Jun 2017 02:01GMT

EUR/USD - 1.1215.. Euro trades narrowly with a firm undertone in Asian morning. Despite staging a rebound from Tuesday's 1.1186 low to 1.1225 in European morning, price retreated to 1.1192 near New York midday, however, lack of follow-through selling lifted price back to 1.1215 near the close.

Expect range trading above 1.1186 to continue with mild upside bias, bids are noted at 1.1200 and more below with stops below 1.1185, more stops are reported below 1.1160.
Offers are tipped at 1.1225/35 with stops above 1.1250, more selling interest is reported at 1.1280/85 with stops above 1.1300 (option barrier).

Euro area countries will release a slew of eco. data starting with Germany's CPI, EU employment n industrial production.
Pay attention to speeches by ECB's Constancio, Knots, Weidmann and Rimsevics.

 

[AceTRaderForex]

AceTraderFx Jun 15: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
15 Jun 2017 02:19GMT

EUR/USD - 1.1221.. Euro is trading in familiar territory after swinging below and above the 1.1200 mark in last 3 consecutive sessions this week.

Despite yesterday's jump after release of lower-then-expected U.S. CPI and retail sales and hitting a 7-month peak of 1.1296, market chatter of option barrier at 1.1300 capped euro's gain and price later tumbled to 1.1194 following hawkish Fed statement.

Looks like 1.1300 is what some call 'a bridge too far' for the euro to cross, so one can contemplate short positions for daily and weekly positions for a long-overdue correction of recent upmove.
Offers are tipped at 1.1250/60 and more above with stops above 1.1300.
Bids are noted at 1.1200-80 with stops below 1.1160.

Euro area countries will release a slew of eco. data, Eurogroup will meet in Luxembourg today (ECB's Draghi and Coeure will participate in the meeting), EZ FUnMins also meet in Brussels.

 

[AceTRaderForex]

AceTraderFx Jun 16: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
16 Jun 2017 02:32GMT

USD/JPY - 111.15.. Dlr stands tall in Asian trading on Friday, actually it stands tallest among its G7 peers after extending near term upmove from Wednesday's 7-week low of 108.83 to a near 2-week high of 111.23 today after penetrating yesterday's New York high of 110.97 as rising U.S. Treasury yields (currently at 2.17% vs Thursay's close at 2.162%) and firm Japanese stocks (N255 current up 0.5% at 19939) have boosted risk sentiment, suggesting the pair would continue its ascent due to broad-based usd's strength which started in Wed's post-FOMC New York session.

Whilst market awaits this week's 4th and last central bank monetary policy meeting by the BoJ any time today, the central bank is widely expected to stand pat on its rate decision and asset purchase programme, so traders may have to wait for comments by BoJ Governor Kuroda at the press conference at 06:30GMT.

Until then, bids have been raised to 110.85-75 with stops below 110.60.
Offer are tipped at 111.25/35 and more above with stops above previous res at 111.71.

Pay attention to a slew of U.S. eco. data later in the day starting with building permits, housing starts n University of Michigan consumer confidence, if actual readings of the latter 2 data come out better than street forecast, then the greenback will head higher in New York morning.

 

[AceTRaderForex]

AceTraderFx Jun 19: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
19 Jun 2017 02:00GMT

USD/JPY - 111.04.. Despite intra-day selloff from 111.42 to as low as 110.66 in New York morning after downbeat U.S. housing data and lower-than-expected consumer confidence, the greenback regained traction in early Asian trading on Monday after finding renewed buying earlier at 110.77 (New Zealand) and climbed back to 111.14 in Tokyo.

Intra-day gain due to rising Japanese stocks (N225 currently up 117 points at 20060) and a recovery in U.S. Treasury yields (benchmark 10-year yield currently at 2.1601% from Friday's low at 2.144%) suggests price will be en route to 111.60/70 after consolidation.
Bids are noted at 110.80-70 with stops below 110.60.
Offers are tipped at 111.15/25 with stops above 111.45.

Although no eco. data is due out today, pay attention to speech by New York President William Dudley who participates in roundtable with local business leaders at 11:45 GMT.

 

[AceTRaderForex]

AceTraderFx Jun 20: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
20 Jun 2017 02:17GMT

USD/JPY - 111.63.. Dlr pares initial gain after climbing abv o/n New York top at 111.60 to a 3-week high of 111.78 after initial mildly hawkish comments by Chicago Fed President Evans (see early updates for details), suggesting range trading is in store until European open.

Having said that, Mon's gain in U.S. stocks where the Dow is within a hair's breadth of its record high at 21,392 n S&P 500 hitting a record high of 2,453 together with intra-day 1.2% gain in the Nikkie (currently at 20,302) plus Monday's gain in U.S. Treasury yields shud boost risk appetite n set the stage for further dlr gain after consolidation, so buying on dips is still recommended but beware of profit taking near previous daily res at 112.13.

Bids are noted at 111.50-40 with stops below 111.20, more buying interest is reported to 111.00/110.90 with stops below 110.60.

Although U.S. eco. calendar is light with current account n Redbook retail sales being the only data due out, we have 'many' Fed officials scheduled to deliver speeches in various countries n different times during the day.
We just had speech by Fed's Evans, pls refer to our Economic Indicators page for times of their speeches.
Next to speak are Fed's Vice Chairman Fischer n Boston Fed President Rosengren who will both be delivering a speech to Amsterdam conference during European morning.

 

[AceTRaderForex]

AceTraderFx Jun 21: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
21 Jun 2017 02:23GMT

EUR/USD - 1.1135... The single currency is nursing loss in subdued Asian trading after yesterday's break of last week's 1.1133 low to a near 3-week bottom of 1.1119.
Despite intra-day choppy swings in Europe due to buying of eur vs gbp and jpy, the euro finally succumbed to active selling pressure on renewed usd's strength in NY morning trading and fell to 1.1119 after tripping some stops below 1.1130.
However, bids above daily sup at 1.1110 contained intra-day weakness and price later inched higher to 1.1135/36 on minor short covering at New York close, then marginally higher to 1.1138 in Asian morning.

Although range trading above Tuesday's temp. low is expected until European open, as yesterday's break of last week's 1.1133 low signals recent decline has resumed, one can expect further losses to occur in Europe, so trading euro from short side is the way to go.
Offers are tipped at 1.1140/45 and more above with stops above 1.1165.
Some bids are noted at 1.1120-10 with stops below 1.1100.

No major eco. data is due out from euro area countries but German FinMin Schaeuble will deliver a speech at German corporate governance conference in Frankfurt later today.

 

[AceTRaderForex]

AceTraderFx Jun 22: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
22 Jun 2017 03:00GMT

USD/JPY - 111.11.. Despite staging an impressive rally from 111.07 to 111.74 in active trading on Wednesday, the greenback fell in New York afternoon session as retreat in U.S. stocks n U.S. Treasury yields triggered renewed broad-based yen buying.
The pair met renewed selling at 111.44 in Australia and fell to 111.07 in Tokyo trading on continued yen buying, suggesting further choppy trading below this week's 111.79 (Tuesday) high would continue.

Offers are tipped at 111.40/50 and more above with stops above 111.80.
Bids are noted at 111.10-00 with stops below 110.90. More buying interest is reported at 110.80-70 with stops below 110.60.

U.S. will later release weekly jobless claims, monthly house prices n Kansas Fed mfg PMI. Pay attention to testimony by Fed Governor Powell who appears before a Senate Banking Committee hearing, "Fostering Economic Growth: Regulator Perspective," at 14:00 GMT.

 

[AceTRaderForex]

AceTraderFx Jun 23: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
23 Jun 2017 02:03GMT

USD/JPY - 111.33.. The greenback maintains a steady to firm undertone on subdued Asian morning after a mini roller-coaster session on Thursday. Although price met renewed selling in Australia yesterday on renewed cross-buying of yen to session lows of 110.95 in Asia on falling U.S. Treasury yields, price later ratcheted back to 111.44 in New York morning as U.S. yields firmed, dlr later moved narrowly after failure to penetrate 111.44 res.

Although range trading is likely to continue, as rebound from 110.95 suggests pullback from Tuesday's 3-week peak at 111.79 has ended, trading the buck from long side is recommended.
Bids are noted at 111.20-10 and more below with stops reported below 110.90, more stops are touted below 110.60. Offers are tipped at 111.40/45 and more above with stops above 11.80.

Today is PMI day, U.S. will release Markit mfg and services PMIs, news home sales, if actual readings come in better than street forecast, the greenback will have room to move higher.
Pay attention to speeches by St. Louis Fed President Bullard (non voter), then Cleveland Fed President Mester (voter) and lastly, speech by Fed Reserve Board of Governors Powell (voter) Powell.

 

[AceTRaderForex]

AceTraderFx Jun 26: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
26 Jun 2017 02:32GMT

USD/JPY - 111.28.. Dlr moves narrowly in subdued Asian trading on Monday following Friday's tight range. Looks like price would remain in range trading mode perhaps until release of U.S. data later in the day.
However, speech by San Francisco Fed President John Williams (non voter) in Sydney at 05:10GMT may have a small influence on intra-day price action.

Offers are noted at 111.40/45 with stops above there, more selling interest is tipped at 111.75/80 with stops above there. Bids are noted at 111.10/111.00 with stops below 110.90.

Pay attention to release of key Germany Ifo data at 08:00GMT, street forecast is for Jun is 114.2 cs previous reading at 114.6. If actual data comes in better than expectation, then euro wud gain a bit.
Last but not least, ECB President Draghi will speak in Lisbon and Sintra late in the day at 17:30GMT.

 

[AceTRaderForex]

AceTraderFx Jun 27: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
27 Jun 2017 03:04GMT

EUR/USD - 1.1188.. Euro remains on the back foot in subdued Asian trading after yesterday's 'roller-coaster' move. Price rebounded from 1.1185 to 1.1208 in early European trading n fell on profit taking to 1.1172 ahead of New York open, however, release of downbeat U.S. durable goods sent price rallying briefly to session highs of 1.1220 but lack of follow-through buying soon led to long liquidation in New York trading.

Price later fell to 1.1175 after mildly dovish comments by ECB's Draghi who on the sideline of a speech on inequality in Europe made to university student in Lisbon said super low rates create jobs, foster growth and benefit borrowers.
He also rebuked recent market calls to exit super easy monetary policy quickly, arguing that premature tightening would lead to a fresh recession and more inequality.

Offers are tipped at 1.1200/10 and more above with stops above 1.1230.
Bids are noted at 1.1175-70 with stops below there, more stops are touted below 1.1140.

Market will pay attention a key speech by ECB's Draghi who is making an introductory speech at the ECB forum on central banking in Portugal at 09:00GMT.
Then ECB's Coeure will will speak at the same event at 09:30GMT, then ECB's Praet, who also at the same event will speak later at 11:00GMT.