AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
21 Jul 2017 02:09GMT

EUR/USD - 1.1631.. The single currency is trading over one cent above its yesterday's level in Asia after ECB Draghi's hinted at the post-ECB press conference that policymakers will discuss QA in autumn despite release of dovish statement earlier which briefly knocked the euro to session lows of 1.1480.

Intra-day sideways move in Asia following Thursday's impressive rally to a 22-month peak at 1.1658 is expected to continue as market turned quiet in New York afternoon.
However, buying euro on dips is still the favoured strategy as the trend is your friend.
Bids are noted at 1.1620-00 area with stops reported below 1.1580.
Some offers (profit taking) are touted at 1.1650/60 and more above with stops above 1.1615 (2015 high).

Eco. calendar fm the euro area countries is pretty thin with Italy's retail sales for Jun the only data today due out at 08:30GMT.

 

[AceTRaderForex]

AceTraderFx Jul 24: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 110.99.. Dlr remains on the back foot in Asian trading after initial break of Friday's 111.02 low (NEW YORK) to a 4-week trough of 110.77.
Renewed selling in New Zealand at 112.20 knocked the pair lower and triggered some stops below 111.00 before buying interest (from Japanese importers on bargain hunting) emerged and lifted price to 111.03/04 ahead of Tokyo lunch break.

Traders citing possible cause for renewed weakness in the usd earlier today in reaction to resignation of White House Press Secretary Sean Spicer which came out after European close on Friday.
Offers are tipped at 111.10/20 with stops above there, more selling is noted at 111.40/50.
Bids are reported at 110.70-60 with stops touted below 110.50.

Today is PMI day, U.S. will release preliminary Jul Markit mfg n services PMIs at 13:45GMT and then June existing home sales at 14:00GMT.

 

[AceTRaderForex]

AceTraderFx Jul 24: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
24 Jul 2017 09:38GMT

GBP/USD - 1.3041... The British pound traded with a firm bias in Asia and gained to 1.3023 ahead of European open and despite a brief pullback to 1.2990 at European open, renewed buying there lifted the pair and cable rose to session high at 1.3049 in European morning due to active cross-buying of strong especially vs euro.

Bids are now seen at 1.3010/20 and more below at 1.2980/90 with stops building up below there whilst initial offers are noted at 1.3110/20, suggesting choppy trading with upside bias would be seen.

Today is also PMI day in the euro area, France will release Markit mfg n services PMIs, the same from Germany as well as monthly report by the German Bundesbank then the same PMIs from Italy.

 

[AceTRaderForex]

AceTraderFx Jul 25: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
25 Jul 2017 02:18GMT

EUR/USD - 1.1646.. All quiet on the eastern front as yesterday's intra-day relatively strong retreat from Asian 23-month peak of 1.1684 to as low as 1.1626 took the wind out recent euro's sails, suggesting choppy sideways swings below said temp. top is in store.
Having said that, as 1.1626 has contained pullback, intra-day upside bias is retained.

Market may well have another go on the upside side to test 2015 high at 1.1715 esp if release of the important German Ifo business climate is above street forecast but if the single currency is unable to take out said yesterday's high, beware of a broad-based long liquidation in the euro ahead of Wednesday's FOMC policy decision and more importantly the accompanying statement as if it contains hawkish tone, then usd is ripe for a corrective rally.

Offers are tipped at 1.1660/70 and more above with stops above 1.1700 and more at 1.1720.
Bids are reported are 1.1630-20 with stops below 1.1610.

Euro area countries will release a slew of eco. data starting with Germany's import prices, France's PPI, Italy's industrial orders n sales. Germany's Ifo bus. climate, current conditions and expectations.

 

[AceTRaderForex]

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

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

USD/JPY - 111.94.. Dlr trades one yen higher above yesterday's 110.83 low in Asia on Wednesday as rising U.S. Treasury yields together with upbeat U.S. data sent the pair sharply higher to 111.95 near New York close.
Renewed buying emerged in Australia at 111.85 pushed price to intra-day high of 112.09 at Tokyo open before easing.

Looks like recent decline has made a low at Monday's 1-month bottom at 110.64 and consolidation with upside bias is in store today ahead of Fed rate decision.
Although no rate hike is expected, traders will focus on the accompanying FOMC statement at 18:00GMT for clue of whether another rate increase will come later in the year or not.
Until then, rising U.S. stocks n firm U.S. yields (benckmark 10-year is currently at 2.3229%, up from last Friday's 3-week low of 2.225%) are expected to boost risk appetite and yen would remain weak vs usd, euro and sterling.

Bids are noted at 111.85-75 and more below with stops below 111.50.
Offers are tipped at 112.05/10 and more above with stops above 112.50.

Ahead of Fed's decision, U.S. will release mortgage applications and news home sales.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
27 Jul 2017 02:13GMT

EUR/USD - 1.1740.. The single currency stands tall in Asian morning after trading comfortably above 2015 peak at 1.1715 following o/n rally in post-FOMC session to 1.1739, then hitting a fresh 23-month high of 1.1748 in Australia earlier today.

As current price is trading well above the 21-hr n 55-hr emas, suggesting intra-day upside bias remains for euro to continue its recent winning streak after minor consolidation, so buying the euro on dips is the way to go (we were long the euro in our intra-day and day trades yesterday and weekly is holding a long at 1.1635 for 1.1785).
Therefore, the theme today is 'sell usd and wear diamonds'. Bids are noted at 1.1720-10 and more below with stops reported below 1.1680.
Some offers (profit taking) are tipped at 1.1750/60 with some stops touted above 1.1780.

Pay attention to release of Germany's GFK consumer confidence for Aug at European open (if actual comes in higher than forecast of 10.6, euro will rise), then EU M3 money supply data.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
28 Jul 2017 03:05GMT

USD/JPY - 111.06.. The pair went through a roller-coaster ride in volatile Thursday's session. Despite falling to 110.78 during Tokyo lunch session on intra-day jump in the eur/usd, price quickly erased losses n climbed steadily in Europe due to broad-based gain in the usd, price later hit session highs of 111.71 near New York midday following upbeat U.S. data but retreat in U.S. Treasury yields knocked dlr to 110.93.

Although dlr staged a minor rebound to 111.34 near New York close, price fell again to 110.93 on renewed cross-buying on yen at Tokyo open today, suggesting choppy sideways swings would continue ahead of release of key U.S. GDP and CPR data later in the day.
Offers are tipped at 111.30/35 and more above with stops above 111.75.
Bids are noted at 110.90-80 with stops reported below 110.60.

Pay attention to release of key U.S. prel. Q2 GDP, PCE and employment cost at 12:30GMT, then University of Michigan July's consumer confidence. Minneapolis Fed President Kashkari (voter) will deliver at speech at town hall event at 17:20GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
31 Jul 2017 02:50GMT

EUR/USD - 1.1738.. Euro pared Friday's gain in fairly subdued Asian trading on Monday after intra-day rally from 1.1672 (Asia) to 1.1763 in post-GDP New York morning.
Looks like market lacks conviction to re-test last Thursday's 29-month peak at 1.1777 and further sideways move would be seen before prospect of another rise.

Offers are tipped at 1.1760/70 with stops above 1.1780, more stops are reported above 1.1800.
Bids are noted at 1.1735-25 with stops below 1.1700.

Pay attention to German retail sales at 06:00GMT, then Italy's unemployment, the same froim the EU, EU and then Italy's preliminary CPI.
A piece of weekend news on Saturday (refer to 10:00GMT update for details) worth noting, ECB governing council member Sabine Lautenschlaeger said in a newspaper interview published on Sat the ECB should start thinking about how it wants to return to normal monetary policy and when it wants to wind down it bond purchases.

 

[AceTRaderForex]

AceTraderFx Aug 01: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
01 Aug 2017 04:00GMT

USD/JPY - 110.11.. Dlr gained no respite on hectic Asian trading after falling to a fresh 6-week trough of 110.22 in New York afternoon due to broad-based usd's weakness.

Despite staging a minor bounce to 110.42 in early Tokyo morning, renewed broad-based yen-buying knocked price lower to intra-day low at 110.01, suggesting recent decline would resume after minor consolidation n stops below 109.95 are now in focus.
Offers are tipped at 110.40/45 and more above with stops above 110.80.
Bids are noted at 110.00 and more stops are touted below 109.60, suggesting selling the greenback is the way to go.

Pay attention release of a slew of U.S. data in the day starting with June personal spending, personal income personal consumption expenditure, Redbook sales, July Markit mfg PMI, ISM mfg PMI and June construction spending.
If July PMIs come in weaker than forecast, expect another round of usd selling.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
02 Aug 2017 03:44GMT

USD/JPY - 110.53.. Dlr finally cut recent losing streak and made modest gain in Asian trading after hitting a fresh 6-week low of 109.93 in New York morning on Tue after soft U.S. data and falling Treasury yields, however, broad-based rebound in the greenback in New York afternoon session lifted the buck and price met renewed buying earlier at 110.31 in Australia and climbed steadily to 110.59.

Looks like a temp. bottom gas been made and consolidation is in store, bids are noted at 110.30-20 and more below with stops below 109.90.
Offers are tipped at 110.55/60 and more above with stops reported above 110.80, more stops are touted above 111.00.

Ahead of Friday's key U.S. NFP, pay attention to release of ADP private payrolls, market forecast for July is for a increase of 185K in jobs, a higher number may give usd a temp. boost or another bashing if it comes in much lower then expectation.
After that, we have ISM New York index. Cleveland Fed President will speak at 15:00GMT followed later by S. Francisco Fed President Williams at 19:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
03 Aug 2017 03:30GMT

USD/JPY - 110.65.. Dlr went through a roller-coaster rise in Wed's volatile trading.
Price rose from 110.31 (AUS) on broad-based yen selling to 110.92 in Asia, then hit session highs of 110.98 in early New York trading.
Dovish comments by St. Louis Fed President Bullard sent U.S. Treasury yields lower n in turn knocked the pair to as low as 110.29, however, usd's broad-based rebound on short covering lifted price back to 110.76 and dlr climbed back to 110.83 at Tokyo open before easing as U.S. yields edged lower.

Looks like 'range trading' would be the order of the day after Wed's wild swings but as 110.00 handle has held, expect more dlr short covering to take place ahead of Friday's keu NFP.
Bids are noted at 110.55-45 and more below with stops below 110.20, more stops are touted below 109.90.
Offers are tipped at 110.80/00 area with fairly large stops reported above there.

U.S. will release a slew of eco. data starting with weekly jobless claims, Markit servcies PMI, ISM non-mfg PMI and factory orders.

 

[AceTRaderForex]

AceTraderFx Aug 03: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Aug 2017 09:12 GMT

USD/JPY - 110.71
Although the greenback has staged a recovery after Wednesday's selloff from a New York high at 112.20 to 110.78 in Asia yesterday on the back of yesterday's slightly dovish Federal Reserve monetary policy statement and minor consolidation would be seen, as said move signals recovery from Monday's low at 110.64 has ended there.
Downside bias remains for decline from July's peak at 114.49 to resume and yield re-test of said support, break, 110.20/24 later.

On the upside, only above 111.72 (previous support) would abort daily bearish outlook and risk stronger gain towards 112.08, then 112.20 again.

 

[AceTRaderForex]

AceTraderFx Aug 04: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
04 Aug 2017 02:36GMT

USD/JPY - 110.10.. Dlr rises above 110.00 after initial marginal weakness below Thursday's 7-week trough of 109.87 hit near New York close to 109.85 at Tokyo open.

Traders cited buying by on bargain hunting by Japanese importers, suggesting range trading is in store in Asia and possibly during European morning as market eagerly awaits release of key U.S. jobs report which will probably dictate usd's price movement in the coming week.
Having said that, intra-day fall in U.S. Treasury yields where the benchmark 10-year has hit a 1-month low at 2.218% yesterday should prevent strong gain.

Offers are tipped at 110.20/30 with stops above 110.50.
Bids are noted at 109.90-85 with stops below 109.60.

U.S. will release the blockbuster NFP (forecast for July is 183K increase in jobs vs previous reading of 222k) at 12:30GMT, traders will also look at average hourly earnings (MoM) for inflation outlook, unemployment rate, trade balance, then later Dallas Fed PCE.

 

[AceTRaderForex]

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

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

USD/JPY - 110.72.. Dlr in holding pattern in subdued trading on Monday following last Friday's rally from a fresh 7-week low of 109.85 (Asia) to as high as 111.05 following robust U.S. jobs report and bullish economic prospect of U.S. corporate tax reform which led to a rise in U.S. Treasury yields.

Current firmness in U.S. yields n with the N225 index trading above the 20,000 level should boost risk appetite and buying on dips is therefore favoured.
Bids are noted at 110.65/55 with stops below 110.45, some offers are tipped at 111.00/05 with stops above there, more stops are reported above 111.30.

Although no eco. data is due out after Friday's release of key jobs data, pay attention to speeches by 2 Fed officials later today starting with St. Louis President Bullard (non-voter) who will give a presentation the U.S. economy and monetary policy before the America's Cotton Marketing Cooperatives 2017 Conference at 15:45GMT and then Minneapolis President Kashkari (voter) who will participate in a moderated question-and-answer session at a Sioux Falls Rotary Club event at 17:25GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
08 Aug 2017 03:18GMT

USD/JPY - 110.67.. Dlr remains under minor selling pressure in Asian trading as intra-day gain in euro led to broad-based usd's softness but market is likely to be subdued after a sleepy New York session on Monday.

Expect range trading below Friday's post-NFP 111.05 high to continue before prospect of another rise later in the day, bids are noted at 110.60-50 with some stop below there, more buying interest is toured at 110.20-00 area.
On the upside, offers are tipped at 110.90-00 with stops above 111.10.

U.S. eco. calendar is very light today with Redbook retail sales being the only familiar data due out at 12:55GMT.
After last Fri's jobs report, the only data that will capture market attention are Thursday's PPI and Friday's CPI, so data watchers will have to be patient.

 

[AceTRaderForex]

AceTraderFx Aug 09: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
09 Aug 2017 03:21GMT

EUR/USD - 1.1731.. Trading the single currency proved to be tricky yesterday. Despite initial gain to 1.1824 in Asia on Tuesday and maintaining a firm posture in Europe, in the absence of important U.S. data, traders bought usd broadly after U.S. jobs openings surged to record high in June, knocking the euro to a 1-week low of 1.1716 in New York morning.
However, intra-day selloff in dlr/yen led to broad-based usd's weakness n lifted price to 1.1760 before falling to 1.1720 in Asia today on active cross-selling in euro vs yen, chf and gbp.

Well, yesterday's break of Friday's post-NFP low at 1.1729 confirms Medium Term uptrend has indeed made a temp. top last week at 1.1909 (Wednesday) and choppy consolidation with downside bias is seen, there is market chatter of stops below 1.1700, so selling euro on recovery is favoured.
Offers are tipped at 1.1760/70 and more above with stops above 1.1800.

Eco. calendar in the ru zone is very light with Italy's industrial production bring the only data due out at 08:00GMT.

 

[AceTRaderForex]

AceTraderFx Aug 10: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
10 Aug 2017 03:15GMT

USD/JPY - 110.07.. Dlr gained respite in relatively subdued Asian trading on Thur following yesterday's wild swings.

Although price fell in Australia on Wednesday from 110.37 to a fresh 7-week low of 109.56 at New York open, rebound in U.S. Treasury yields lifted the pair to 110.16 before retreating to 109.76.
Price later ratcheted higher near the close and climbed to 110.18 today on renewed cross-selling in yen as tension on North Korea eased a bit but intra-day statement by S. Korean military n Japan's Defence Minister (see early update) reminded market tension still remains.

Range trading is expected until European open with offers at 110.10/20 with stops above 110.25.
Bids are noted at 109.90/80 with stops reported below 109.50.

U.S. will release fairly important PPI data (ahead of Fri's key CPI) at 12:30GMT n later Fed budget.

 

[AceTRaderForex]

AceTraderFx Aug 11: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
11 Aug 2017 04:05GMT

USD/JPY - 108.96.. Dlr remains on the back foot in relatively holiday-thinned Asian morning as financial markets are closed in Japan for Mountain Day holiday (a news holiday which started for the first time in 2016).

The pair continued Thursday's 'cross-inspired' decline in New York session after weak U.S. PPI data n falling Treasury yields (benchmark 10-year dropped to 5-week low of 2.197%) n hit an 8-week low of 109.16.
Selling continued in Australia today n Asian morning, pressuring price to 108.96 at Asian lunch break, traders citing lack of Japanese bids (by Japanese importers) a main reason for intra-day decline as well as a near 2% drop in the Nikkie futures, suggesting re-test of June's 108.83 is on the cards later today.

Offers are noted at 109.20/30 n more above with some stops above 109.60.
A mixture of bids n stops is touted at 108.85-80.

Pay attention to the most important data for the week in the U.S. where CPI data will be released at 12:30GMT, July M/M inflation is expected to come in at 0.2% vs previous reading at 0.0% n Y/Y is forecast to be 1.8% vs previous reading at 1.6%, if actual readings miss estimates, then U.S. yields will continue to fall n the usd will drop.

Dallas Fed President Kaplan (voter) will participate in a Q&A session at a forum in Texas at 13:40GMT n then later at 15:30GMT, Minneapolis Fed President Kashkari (voter) will participates in a Q&A at a convention in Minneapolis.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
14 Aug 2017 02:35GMT

USD/JPY - 109.37.. Despite extending recent decline to a near 4-month trough of 109.74 in New York morning after tepid U.S. inflation data, dlr met renewed buying earlier in New Zealand at 109.02 and climbed in Tokyo trading to 109.44 due to buying by Japanese names (importers) on bargain hunting.

Looks like consolidation above said temp. low would continue with mild upside bias on a slight easing of U.S.-N.Korean tension (see w/end updates for details).
Bids are noted at 109.10-00 and more below with stops reported below 109.70.
Offers are tipped at 109.45/55 with stops above 109.60.

After Frdayi's key U.S. inflation data, no eco. data is due out from the U.S. today, so fund flow would have a strong influence in intra-day price swings.

 

[AceTRaderForex]

AceTraderFx Aug 15: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
15 Aug 2017 03:05GMT

USD/JPY - 110.20.. The greenback stands tall in active Asian trading due to return of risk appetite, leading to broad-based active yen selling as threat of an imminent conflict between U.S. and North Korea dissipated after North Korean official news agency KCNA announced in Australian morning North Korea leader Kim will watch the actions of the U.S. for a while before making a decision and WSJ reported North Korean leader Kim Jong Un has decided not to launch a threatened missile attack on Guam.

In fact, the pair was bid in New York afternoon following hawkish comments by Fed's Dudley (see early update) and usd buying emerged ahead of Tokyo open n sent price jumping above Monday's high, price rallied to 110.23 after tripping stops above 109.85, then above 110.00.
Current firmness suggests dlr still has legs to move higher and some stops above 110.25 are in focus, therefore, buying the buck on dips is the way to go as European traders may well buy the usd in reaction to Dudley's comments and the easing of U.S.-N. Korea tensions.

Bids are noted at 110.00, then 109.80 with stops below 109.40.
There is a mixture of offers and stops at 110.25/30.

U.S. will release a slew of eco. data, pay attention to Jul retail sales, import n exports data, NY Empire State mfg index, Redbook retail sales, business inventories n NAHB Housing Market index. If U.S. retail sales come in stronger than estimate, then usd will get a extra lift n move higher further, if not, this'll represent an opportunity to buy dlr at lower levels.