AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Jun 28: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
28 Jun 2017 03:07GMT

USD/JPY - 112.07.. Dlr pares yestyerday's rally to a fresh 5-week high at 112.47 n trades with a soft undertone in fairly subdued Tokyo morning.
Although the pair rose in Europe from 111.47 on renewed broad-based yen selling as U.S. Treasury yields rebounded (benchmark 10-year yield rose from 2.126% to 2.216%) and intra-day gathered momentum after rising above 112.20 to 112.47 at New York midday after release of upbeat U.S. eco. data.
However, news of a delay in U.S. healthcare vote led to renewed broad-based usd's weakness, knocking the pair to 112.06, Despite a recovery to 112.36 ahead of NY close, the pair weakened to 112.03 in Asia.

Looks like range trading with near term downside bias remains, offers are tipped at 112.35/45 with stops above 112.50. Bids are noted at 112.00-111.90 with stops below there, more buying interest is reported above 111.50.

U.S. will release a slew of eco. data starting with MBA mortgage applications, wholesale inventories, retail inventories, pending home sales (latter may move the market if actual reading is either much stronger or weaker than street forecast).

After yesterday's barrage of speeches by FOMC officials in different parts of the globe, we have only one Fed speaking today. San Francisco Fed President Williams (non-voter but a hawk) is continuing his speaking tour on the 3rd day this week in Australia, he'll be delivering a speech in Canberra at 07:30GMT.

 

[AceTRaderForex]

AceTraderFx Jun 29: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
29 Jun 2017 02:43GMT

USD/JPY - 112.25.. Price remains in range trading mode n despite this week's renewed broad-based weakness in the greenback, the pair has exhibited resilience to intra-day decline due to active cross-selling in the yen as firmness in U.S. stocks n rebound in U.S. Treasury yields have boosted risk sentiment.
In addition, dovish comments by BoJ Governor Kuroda said at ECB Forum yesterday the central bank would commit to easy policy is another supporting factor.

Intra-day retreat from 112.39/40 suggests further sideways swings below Tuesday's 5-week high at 112.47 would continue, however, buying the pair on dips is still favoured.
Bids are noted at 112.00-111.80 area with stops below there.
Offers are tipped at 112.40/45 with stops above 112.50.

Pay attention to a slew of U.S. data later in the day starting with weekly jobless claims, final GDP (Q1), final PCE.
Bank of Japan board member Yutaka Harada will speak at capital markets seminar in Tokyo at 06:30GMT, then Fed's Bullard, Fed's Mester and Fed's Powell.

 

[AceTRaderForex]

AceTraderFx Jun 30: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
30 Jun 2017 02:36GMT

USD/JPY - 111.77.. Despite yesterday's rally in European morning due to rebound in U.S. Treasury yields and then subsequent gain to a fresh 112.93 in New York morning after an upward revision to U.S. Q1 GDP, the pair finally succumbed to renewed broad-based usd's weakness and intra-day decline in U.S. stocks led to active yen-buying on risk aversion, price tumbled to 111.82 before stabilising.

Dlr resumed yesterday's decline after meeting renewed selling near New York close n fell further to 111.73 on Asia as decline in the Nikkie (N225 currently down over 1% at 19,986) triggered more yen buying.
Looks like recent cross-inspired upmove has finally made a temp. top and consolidation with downside bias is seen.
Offers are tipped at 112.05/15 and more above with some stops above 112.50.
Initial bids are noted at 111.70 and more below with stops touted below 111.50.

U.S. will release a slew of eco. data later in the day starting with PCE price index, core PCE price index, personal spending, , Chicago PMI n University of Michigan consumer confidence, of the latter 2 data come in weaker than street
forecast, usd will be sold.

 

[AceTRaderForex]

AceTraderFx July 03: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
03 Jul 2017 02:35GMT

USD/JPY - 112.34.. Despite opening lower on Monday due to broad-based yen buying in New Zealand following Sunay's crushing Tokyo election defeat by the ruling LDP, dlr buyers (or rather yen sellers) quickly emerged and help the pair erase intra-day losses, dlr rebounded to 112.40 in Asian morning, suggesting sideways swings are in store.

Looks like range trading would continue after Friday's cross-inspired rebound from 111.73 to 112.59 (New York).
However, offers at 112.50/60 are likely to cap intra-day gain but stops are touted above 113.00.
Bids are noted at 112.00-111.90 n more below with stops below 111.70.

St Louis Fed President James Bullard will give lecture at a Bank of England research conference
at 08:35GMT, then U.S. will release constriction spending and ISM mfg PMI ahead of Tuesday's Independence Day holiday.

 

[AceTRaderForex]

AceTraderFx July 03: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
03 Jul 2017 09:10GMT

GBP/USD - 1.2976.. Cable falls on downbeat UK data. Reuters just reported British factories grew more slowly than expected in June as export orders rose at the weakest pace in five months, according to a survey on Monday that could make Bank of England officials think twice about raising interest rates.

The Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) fell to 54.3 from a downwardly revised 56.3 in May, a three-month low and below all forecasts in a Reuters poll of economists that pointed to a reading of 56.5.

Britain's economy barely grew in the first three months of the year, with consumers facing the double hit of accelerating inflation, caused in large part by the fall in the pound since the Brexit vote, and slowing wage growth.

Monday's survey suggested that the supposed silver lining of a weak currency - more competitive exports - is proving elusive.

Economic data to be released :
France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, unemployment rate, UK manufacturing PMI, U.S. construction spending and ISM manufacturing PMI on Monday.

 

[AceTRaderForex]

AceTraderFx Jul 04: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
04 Jul 2017 03:12GMT

EUR/USD - 1.1369.. Euro is nursing loss after yesterday's intra-day decline from 1.1427 (AUS) to as low as 1.1355 on long liquidation vs usd, yen, gbp n chf. Euro's retreat began at Asian open n intra-day weakness continued in European morning despite upbeat EZ PMI data n price finally touched session lows shortly after New York midday n later moved narrowly in subdued New York afternoon.

Although intra-day rebound in Asia to 1.1378 suggests range trading is in store until European open, the fact that Mon's decline confirms recent strg uptrend has made a temp. top at Fri's near 14-month peak at 1.1445, consolidation with downside bias remains, so selling the single currency on further recovery is favoured as the market now tests euro's downside.
Offers are tipped at 1.1375/85 n more above with stops above 1.1400.
Initial bids are noted at 1.1360-55 with stops below 1.1350 n more below 1.1320.

Eco. calendar from the euro area countries is pretty light with EU PPI being the only data due out.
However, do pay attention to speeches by ECB's Praet at 12:30GMT n later ECB's Mersch at 17:40GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
04 Jul 2017 03:10GMT

USD/JPY - 112.95.. Dollar remains on the back foot in Asian trading on Wednesday as another missile launch by North Korea early today sparked off another round yen-buying on risk aversion. Despite yesterday's strong rebound from 112.74 (Europe) to 113.33 near Tuesday's close n then marginal gain to 113.36 in Australia, traders sold usd n bot the yen broadly when the news came out, the pair later weakened to 112.83 before stabilising.

Dlr's intra-day weakness suggests choppy trading below Monday's 5-week peak at 113.47 would continue with downside bias.
Offers are tipped at 113.10/20 and more above with stops above 113.50.
Some bids are noted at 112.80-70 with stops below there.

U.S. markets will reopen later in the day after y'day's Independence Day holiday n eco. data due out are Redbook sales, ISM NY index, Jun durable goods order, factory orders n last but definitely not least, FOMC minutes.

 

[AceTRaderForex]

AceTraderFx Jul 06: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
06 Jul 2017 02:15GMT

USD/JPY - 113.14.. Dlr pares yesterday's gain to a 6-week high of 113.69 in Asia as traders bot yen broadly vs usd, euro, aud n sterling shortly after Tokyo open, suggesting choppy range trading below 113.69 would be seen with downside bias.
Offers are tipped at 113.30/40 and more above with stops above 113.85.
Initial bids are noted at 112.85-75 with stops reported below 112.70.

The release of o/n Fed minutes caused initial knee-jerk price reaction and eventually causing dlr to weaken a bit vs its peers, however, this week's short-covering rally in the dlr still has legs to go higher esp if U.S. private ADP payrolls come in stronger than expectation, so one can buy the greenback on dips or sell on next upmove.

Also pay attention to speeches by Fed officials, starting with S.F. Fed's Williams who is delivering a speech in Tasmania, Australia (he was in the Down Under in the last week of Jun), then Fed's Powell at 14:00GMT.

U.S. will release a slew of data staring with mortgage applications, ADP payrolls, initial jobless claims, trade balance, Markit services PMI n then ISM non-mfg PMI.

 

[AceTRaderForex]

AceTraderFx Jul 07: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
07 Jul 2017 02:23GMT

EUR/USD - 1.1424.. Although euro maintained its firm undertone in subdued Australian trading early this morning following yesterday's impressive rally from 1.1331 (Europe) to as high as 1.1424 after release of hawkish ECB minutes (EZ bonds yields also jumped afterwards) and then downbeat U.S. ADP private jobs report, intra-day rally in dlr/yen led to broad-based usd's strength, causing euro bulls to unwind their longs, euro retreated from intra-day marginal high at 1.1426 (AUS) to 1.1410.

Range trading below 1.1424 is now expected until European open, however, renewed buying is likely to emerge on dips with bids noted at 1.1400-1.1390 with stops below 1.1380.
Offers are tipped at 1.1420/25 and more above with stops above last week's near 14-month high at 1.1445.

Ahead of U.S. NFP, euro area countries will release a slew of eco. data starting with Germany's industrial production, France will release the same, then budget balance, current account n later Italy's retail sales.

 

[AceTRaderForex]

AceTraderFx Jul 10: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
10 Jul 2017 03:12GMT

EUR/USD - 1.1405.. Euro trades narrowly in subdued Asian trading after Fri's choppy price action in post-NFP New York session.

Despite initial brief dip to 1.1388 and then also a quick jump to 1.1440 immediately after release of key U.S. jobs report, traders bot the usd broadly n this sent euro lower to session low at 1.1380 in New York morning, lack of follow-through selling later lifted price back to 1.1410/11.

Asian traders appear to remain on the sideline in Monday's trading and wait for European open to see if the single currency will head lower later in the day or not.
Our bias is for euro to 'head lower' as Fri's failure to re-test June's near 14-month peak at 1.1445 is a near term bearish sign (double top formation on the daily chart if you call it), so selling on intra-day recovery is favoured.
Offers are tipped at 1.1405/10 and more at 1.1430 with stops reported above 1.1450.
Some bids are noted at 1.1395/00 with stops below 1.1375.

Germany will release its current account together with imports n exports data n then EU will release Sentix investor confidence index. ECB Governing Council member Benoit Coeure n Chair of the ECB's Supervisory Board Daniele Nouy wll particpate will participate in Eurogroup meeting today.

 

[AceTRaderForex]

AceTraderFx Jul 11: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
11 Jul 2017 03:12GMT

EUR/USD - 1.1396.. The single currency moved narrowly in lackluster Mon's session n continues to orbit 1.1400 level in subdued Asian trading today, suggesting further sideways wings below last Friday's 1.1440 high would continue.

Having said that, yesterday's dlr's gain vs other G3 currencies suggests consolidation with downside bias remains.
Offers are tipped at 1.1415/20 with stops above 1.1450, bids are noted at 1.1385/80 with stops below 1.1370, there is market chatter of good buying interest at 1.1330-10 area.
So market is in 'holding pattern' ahead of key Fed Chair Yellen's testimony before the Congress tomorrow.

Today, there is EU Economic and Financial Affairs Council meeting in Brussels n ECB Board member Constancio will participate in the meeting, then at 11:00GMT, another ECB Board member Coeure will deliver a speech at the FX Contact Group meeting in Frankfurt at 13:00GMT.

Eco. calendar is very light today, Italy will release industrial output for May which will be ignored by traders.

 

[AceTRaderForex]

AceTraderFx Jul 11: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
11 Jul 2017 08:44GMT

GBP/USD - 1.2905.. Sterling gained more than just respite in European trading after yesterday's resumption of recent decline to a 10-day low of 1.2855 (New York), traders cited broad-based short covering ahead of BoE's Inflation Report hearings (10:00GMT), speeches by BoE's Haldane and Broadbent at 10:00GMT and 11:00GMT respectively as reasons intra-day rebound.

Present firmness suggests consolidation with upside bias remains and stops at 1.2925/30 are now in focus.
Bids have been raised to 1.2880-70 and more below with stops below 1.2850.

Data to be released on Tuesday:
UK BRC retail sales, Australia NAB business conditions, business confidence, Italy industrial output, Canada housing starts, U.S. Redbook, wholesale inventories and wholesale sales.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
12 Jul 2017 03:08GMT

USD/JPY - 113.50.. Dlr remains on the back foot in heavy Asian trading after yesterday's decline from a near 4-month high of 114.49 to 113.73 as breaking news of Trump Jr's Russian-linked emails sent usd down broadly in New York.

The pair met renewed selling at 113.97 in Australia and dlr fell further to 113.43 ahead of Tokyo lunch break due to yen-buying on risk aversion, suggesting recent cross-inspired upmove has indeed made a temp. top, so selling dlr on recovery is favoured.
Offers have been lowered to 113.70/75 and more at 113.95/00 with stops above 114.05.
Some bids are noted at 113.40-35 and more at 113.10-00 with stops below there.

Market's main focus is Fed Chair Yellen's 2-day testimony before the Congress as traders want to hear from horse's mouth if the Fed will hike again later this year as well as when the central bank will start to reduce its huge balance sheet.
After that, the Fed's Beige book due out at 18:00GMT n speech by Kansas City Fed President Esther George (non-voter) at 18:15GMT will pale into insignificance.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
13 Jul 2017 05:00GMT

USD/JPY - 112.97.. Dlr remains on the back foot in Asian trading. Despite staging a short covering rebound to intra-day high of 113.53 at Tokyo open, sellers (or yen buyers) emerged n quickly knocked price lower, suggesting re-test of yesterday's low at 112.93 (New York) would be seen soon, so selling the greenback on recovery for a stronger correction of recent uptrend is favoured, this week's decline in the U.S. Treasury yields esp. yesterday following mildly dovish Fed Yellen's dovish statements add to present bearish dlr view.

Offers are tipped at 113.20/30 and more above with stops above 113.55.
Some bids are noted at 112.90/80 with stops below 112.70.

Pay attention to release of a slew of U.S. data later in the day at 12:30GMT with CPI, PPI, jobless claims.
Then at 14:00GMT, Fed Chair will appear on the last day of her 2-day testimony at Capital Hill. Fed's Evans will speak at 15:30GMT and then at 17:00GMT, Fed Governor Brainard will give a speech.

 

[AceTRaderForex]

AceTraderFx Jul 14: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
14 Jul 2017 02:39GMT

USD/JPY - 113.44.. Despite yesterday's initial cross-inspired weakness to a near 2-week low of 112.93 in Asia, the greenback staged a short-covering rally to 113.47 in New York morning as rise in U.S. Treasury yields and continued gain in U.S. stocks markets (DJI hit record highs) boosted risk appetite and led to broad-based yen selling vs eur, aud and nzd.

The pair extended its o/n gain at Tokyo open and climbed marginally higher to 113.57 before easing, suggesting range trading is in store and mild upside bias remains for further retracement of this week's decline from Tuesday's near 4-month peak at 114.49 esp. if U.S. data especially the CPI and retail sales data come in slightly higher than street forecast, so be prepared for a lively/hectic New York morning trading.

Bids are noted at 113.30-20 and more below with stops below 112.80.
Offers are tipped at 113.60/70 with stops above 113.80, a mixture of selling interest and stops is reported at 113.95/00.

U.S. will release a slew of eco. data later in the day starting with CPI, retail sales, real weekly earnings, industrial output n manufacturing output, bus. inventories n University of Michigan consumer confidence. Last but not least, Dallas Fed President Robert Kaplan (voter) will deliver a speech in Mexico City at 14:00GMT.

 

[AceTRaderForex]

AceTraderFx Jul 17: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
17 Jul 2017 02:10GMT

USD/JPY - 112.63.. Dlr traded relatively narrowly in holiday-thinned Asian morning as Japanese financial markets are closed for Marine Day national holiday following selloff from 113.58 (Asia) to as low as 112.27 in New York morning after key U.S. CPI and retail sales data missed market forecast, knocking U.S. bond yields lower, however, price later rebounded as U.S. yields staged a recovery.

Looks like range trading above said Fri's 10-day low at 112.27 would continue due to intra-day minor broad-based recovery is the greenback, however, market sentiment remains bearish on the buck, so trading dlr from short side in anticipated of a re-test of 112.27 is favoured.
Offers are tipped at 112.65/75 with some stops above 112.90, more stops are noted above 113.00.
Bids are noted at 112.40-30 with stops below 112.00, more stops are touted below 111.70.

U.S. eco. calendar is pretty thin after Friday's release of a slew of key data and NYT Fed mfg index is the only reading due out at 12:30GMT, so technical trading will prevail for rest of the day.

 

[AceTRaderForex]

AceTraderFx Jul 17: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
17 Jul 2017 09:00GMT

GBP/USD - 1.3075... The British pound has surrendered some of it's gains after Friday's rise to a fresh 13-month peak at 1.3114 due to profit-taking offers n price has retreated to 1.3070 in early European morning AND continues to remain under pressure.

In the absence of major economic data today from UK, focus will be on the Brexit talks, which commence today. Investors should pay attention to headlines coming out from talks between the EU and UK negotiators.

Offers are now seen at 1.3110/20 and more above at 1.3130/40 with stops building up above there whilst bids are lowered to 1.3040/50, suggesting further choppy trading would be seen.

Data to be released today:
UK house price, GDP, EU CPI, core CPI and U.S. New York manufacturing on Monday.

 

[AceTRaderForex]

AceTraderFx Jul 18: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
18 Jul 2017 09:27GMT

GBP/USD - 1.3023... Although the British pound traded with a firm bias in Asia and rose to a fresh 13-month peak at 1.3126 in early European morning, price swiftly pared its gains after the release of poor UK inflation data (see previous MMN) and tumbled to as low as 1.3015 n continues to remain under pressure.

Offers are now seen at 1.3050/60 and more above at 1.3080/90 with stops building up above there whilst initial bids are noted at 1.2970/80, suggesting choppy trading with downside bias would be seen.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
19 Jul 2017 03:00GMT

USD/JPY - 112.09.. Dollar gained respite in choppy trading in Tokyo on Wednesday after falling sharply from 112.70 (AUS) to a 2-week low of 111.69 in New York morning yesterday due to broad-based usd weakness.

Selling emerged in early Asian trading Tue on news that Trump's healthcare bill failed to pass in the Congress, this led to broad-based usd bashing n quickly knocked the pair to 111.99. Despite staging a short-covering rebound to 112.37 in Europe, dlr bears gave the greenback another hard beating, sending dlr to a 2-week low of 111.69 in New York morning before recovering to 112.10.

Despite initial dip to 111.89 at Tokyo open, bargain hunting by Japanese names (importers) lifted the pair to 112.14, suggesting choppy range trading is in store.
Bids are noted at 111.90-70 with stops below there, offers are tipped at 112.30/10 with some stops above there.

As dlr index has fallen to a fresh 10-month low of 95.02 yesterday n U.S. bond yields remain soft, suggesting selling the buck on recovery is favoured, at least until BoJ's policy decision on Thursday nand more importantly, Governor Kuroda's press conference.

U.S. will later release mortgage applications, building permits n housing starts, if these housing data come in weaker than street forecast, then usd will be sold again before prospect of another recovery.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
20 Jul 2017 03:23GMT

USD/JPY - 111.95.. Dlr gained respite in choppy Asian trading as market awaits BoJ's monetary policy announcement which usually comes out during Tokyo lunch break n then Governor Kuroda's comments at the post-BoJ meeting press conference at 06:30GMT.

The BoJ is widely to leave its current key cash rate at -0.1% unchanged but traders are keen to see whether the central bank will continue its ultra-loose policy to achieve its (so far) unachievable 2% inflation target or will start reducing its asset (ETF) purchase and the former scenario is likely to prevail as 2 of the current BoJ board members who have dissented in past meetings will leave after today.

Offers are tipped at 112.20/30 n more above with stops above 112.40/50.
Some bids are noted at 111.80-70 with stops below 111.50.
As dlr remains in a broad-based downward trend, sell the pair on intra-day corrective rally is the way to go.

Later in the day, U.S. will release weekly initial jobless claims. Philly Fed survey and then leading indicators.