AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Sept 12: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
12 Sept 2017 2:40GMT

EUR/USD - 1.1954.. The single currency is nursing losses in subdued Asian morning but remains on the back foot after falling 2 ticks below o/n New York low at 1.1948 after meeting renewed selling at 1.1964 in Australia, however, lack of follow-through selling has give the pair a bit of respite.

Yesterday's break of last Fri's 1.2016 low and the daily close below 1.2000 mark bodes ill for the euro in the next few days as this bearish price action signals Medium Term uptrend has indeed formed a temp. top at Friday's fresh 30-month peak at 1.2093 and consolidation with downside bias is in store, so selling euro on recovery for further weakness is the way to go.

Offers are tipped at 1.1975/85 and more above with some stop above 1.2000. Initial bids are noted at 1.1950-40 with stops touted below last Thursday's post-ECB low at 1.1930.

Ecp. calendar in the euro countries is very light with France's non-farm payrolls being the only data due out.
However, do pay attention to a speech by ECB's Vice President Vitor Constancio who will speak at a conference on monetary policy in non-standard times in Frankfurt at 13:45 GMT.

 

[AceTRaderForex]

AceTraderFx Sept 13: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
13 Sept 2017 4:10GMT

EUR/USD - 1.1984.. Euro finally gains respite after falling in last 2 sessions this week. Despite extending decline from last Friday's 30-month peak at 1.2093 to 1.1927 ahead of European open, short covering lifted price to 1.1973.
The single currency met renewed buying at 1.1960 in Australia and despite initial narrow move, price popped higher to 1.1993 after tripping stops above 1.1980.

Present firmness during Asian lunch session suggests said decline from 1.2093 has made a temp. low yesterday n consolidation with upside bias is ahead of EU President Juncker's speech at 07:00GMT.
Bids are noted at 1.1960-50 and more below with stops below 1.1925.
Offers are tipped at 1.1990/00 with stops above there.

Germany will release final CPI n wholesale price, the EU will release employment data n industrial production.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
14 Sept 2017 2:50GMT

USD/JPY - 110.63.. Dlr stands tall in Tokyo trading after yesterday's gain to a 2-week high of 110.69 due to broad-based usd's strength n rising U.S. Treasury yields. Despite subsequent retreat n sideways move in New York afternoon and Australia earlier today.
Renewed buying at 110.41 shortly after Tokyo open sent the pair to intra-day high of 110.73 due partly to renewed weakness in the eur/usd.

As dlr's near term ascent which began last Friday seems to be losing steam, strong gain is not expected n consolidation is likely to take over as traders await release of key U.S. inflation data later in the day to predict whether a Fed rate hike would be warranted at next Wednesday's FOMC meeting.
Offers are tipped at 110.70/80 and more above with stops above 111.05.
Bids are noted at 110.45-35 with stops below 110.20, a mixture of bids and stops is touted at 109.90/85.

U.S. will release U.S. inflation data and weekly jobless claims at 12:30GMT, pay attention to Aug annual CPI ex-food & energy, street forecast is looking for an increase of 1.6% vs previous reading of 1.7%.
If actual figures comes in above forecast, then usd will climb, if it misses estimate, then expect a bigger pullback after this week's spectacular rise.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
15 Sept 2017 3:30GMT

USD/JPY - 110.16.. Dlr is currently trading near Thursday's New York low after having spiked lower from 110.25 to to 109.55 on news of another missile launch by North Korea after tripping stops below 109.90.
However, the pair swiftly pared intra-day losses n bounced back to 110.00/10 and then inched higher to 110.24/25 in subdued Asian trading.

Although dlr has taken today's North Korea missile launch in its stride, as yesterday's decline from a 1-month peak at 111.04 to 110.07 in New York signals recent upmove has made a temp. top, rallied will be sold on safe-haven yen buying, The UN Security Council will meet at 3 p.m. ET (19:00GMT) later today on the latest North Korea missile test, diplomats said, at the request of the United States and Japan.

Offers are tipped at 110.25/35 and more above with stops above 110.75.
Bids are noted at 109.90/80 and more below with stops building below 109.50.

U.S. will release a slew of eco. data starting with retail sales, New York Fed mfg, mfg and industrial output, cap. utilization, bus. inventories and then University of Michigan consumer confidence.

 

[AceTRaderForex]

AceTraderFx Sept 18: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
18 Sept 2017 2:20GMT

USD/JPY - 111.20.. Dlr maintains a firm undertone in holiday-thinned Asian trading as financial markets are closed in Japan for 'Respect of the Aged Day' holiday following a brief but strong retreat from 11.34 to 110.63 in New York morning on soft U.S. retail sales data, however, yen selling soon emerged and lifted price.

The pair opened flat in New Zealand on Mon n edged higher from 110.87/90 to 111.26 due to renewed cross-selling in yen, suggesting range trading with mild upside bias remains.
Bids are noted at 111.00-110.90 with stops below there, more stops are reported below 110.60.
On the upside, offers are topped at 111.25/35 with stops touted above there.

U.S. eco. calendar is very light with NAHB Housing Market index being the only data due out, however, market focus is FOMC rate decision n the accompanied statement on Wednesday.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
18 Sept 2017 10:20GMT

GBP/USD - 1.3555... Although the British pound traded with a firm bias in Asia and resumed its recent winning streak to a fresh 14-month peak at 1.3619 at European open, lack of follow-through buying triggered profit-taking n cable retreated to 1.3532 in European morning before stabilising.

Orderbook remains light in the absence of eco. data from UK and as investors await BoE Governor Carney's speech later today at 15:00GMT.

Bids are now lowered to 1.3510/20 and more below at 1.3480/90 with stops building up below there whilst initial offers are noted at 1.3640/50, suggesting further choppy trading would be seen.

 

[AceTRaderForex]

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

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

USD/JPY - 111.52.. Dlr maintains a biddish tone in Asian trading following yesterday's gain to an 8-week high of 111.66 in New York afternoon soon as continued gains in the Dow and the S&P 500 to records highs and rising U.S. Treasury yields (benchmark 2-year yield hit a near 1-month high of 2.37%) boosted risk sentiment.

Although range trading is expected after Japanese players returned from yesterday's national holiday and some selling by Japanese exporters to take advantage of recent dlr's impressive rise (or yen's weakness) would keep price trading below said New York high in the near term before prospect of marginal gain in Europe.

Bids are noted at 111.30-20 with some stops below 111.10, however, more stops are touted below 110.60.
Offers are tipped at 111.65/75 and more above with stops reported above daily at 112.20.

The Fed will begin its 2-day meeting today and U.S. will release a slew of eco. data starting with current accounts, building permits, housing starts, import n export prices and Redbook sales.

 

[AceTRaderForex]

AceTraderFx Sept 20: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
20 Sept 2017 02:40GMT

EUR/USD - 1.2014.. The single currency stand tall in fairly hectic Asian trading after penetrating yesterday's 1.2006 top to a fresh 1-week high of 1.2020. Tripping stops above 1.2010, more stops above 1.2030 are now in focus, suggesting buying euro on pullback for short-term trade is still recommended.

However, strong gain ahead of FOMC announcement is not envisaged and be aware of a selloff in post-FOMC esp. if Fed's "dot-plot" shows more Fed officials are expecting rate rise to be brought forward as well as the no. of rate increase in 2018.

For now, bids have been raised to 1.2000-1.1990 with stops below 1.1980, a mixture of offers n stops is touted at 1.2030/35.

Euro area eco. calendar is very light today with Germany's PPI being the only data due out.

 

[AceTRaderForex]

AceTraderFx Sept 21: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
21 Sept 2017 2:50GMT

USD/JPY - 112.53.. The greenback stand s tall in Asian trading after jumping from 111.12 to a 2-month high of 112.53 in post-FOMC when Fed's "dot plot" showed 12 FOMC members (up from 8 in June) still want a rate hike in Dec's meeting. Despite a minor retreat to 112.10 on profit taking ahead of New York close, early birds in Australia bot the buck and price climbed to intra-day high of 112.65 shortly after Tokyo open before coming off on selling by Japanese exporters who took advantage of recent dlr's strength.

Looks like range trading would be seen ahead of BoJ's policy announcement between 03:00-04:30GMT, the central is widely expected to stand pat in its rate decision and market focus is BoJ Kuroda's post-meeting press conference at 06:30GMT.

Bids are noted at 112.20-00 area with stops below 111.80, offers are tipped at 112.65/75 and more above with stops above 113.00.
Buying dlr on dips is the way to go due to rising U.S. Treasury yields with benchmark 10-year yield climbing to fresh 1-month high of 2.289% on Wednesday.

U.S. will release weekly initial jobless claims, Philly Fed survey, monthly home price n leading indicators but market will large show muted reaction to these data after yesterday's hawkish Fed rate forecast.

 

[AceTRaderForex]

AceTraderFx Sept 22: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
22 Sept 2017 2:40GMT

EUR/USD - 1.1954.. Euro maintains a firm undertone in Asia following yesterday's cable-led rebound to 1.1954 in New York morning. Intra-day decline in usd/yen n usd/chf due to renewed geopolitical tensions on the Korean Peninsular has led to broad-based usd weakness vs the European currencies in Asia, suggesting choppy consolidation with mild upside bias remains ahead of European open.

Bids are noted at 1.1930-20 with stops below 1.1890, more stops are reported below 1.1860.
Offers are tipped at 1.1975/85 and more above with stops above 1.2000.

Today is PMI day in the euro area countries, France will release Markit mfg n services PMIs, then the same from Germany and then the EU.
Pay attention to speeches by a great number of ECB officials including ECB President Draghi (please refer to our EI page for details).

 

[AceTRaderForex]

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

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

EUR/USD - 1.1931.. Euro swung wildly in volatile trading on Mon as despite Sun's expected election win by Germany's Merkel, market concern on her difficulty in forging an unstable coalition in order to form a majority govt. together with the first right-wing AfD party to come in the parliament has unsettled the market, casting doubt on how the weak coalition govt. will move forward under present turbulent political climate surrounding the EU.

The single currency opened around 1.1951 n met renewed selling at 1.1960 in NZ, price later hit inra-day low of 1.1897 when German election result was made known.
However, short covering quickly lifted the pair n price then ratcheted higher back to 1.1934/35 shortly after Asian open. Looks like range trading usd be seen until European open n selling the euro on further rise for day trade is favoured.

Offers are tipped at 1.1960/80 area with some stops above 1.2010.
Bids are noted at 1.1920-00 with stops below 1.1890, more stops are touted below 1.1860.

The only data due out is the key German Ifo data esp the business climate at 08:00GMT, although Auh reading expected to come in at 116.0 vs previous reading at 107.90, present political uncertainty in Germany will discourage strong euro buying even if the data turns out to be higher than street forecast.

A no. of senior ECB members will be speaking starting with ECB's Constancio at 07:00GMT, ECB's Mersch at 09:15GMT, ECB President Draghi at 13:00GMT n ECB's Coeure at 14:45GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
26 Sept 2017 02:20GMT

USD/JPY - 111.64.. Dlr trades near Mon's 111.48 low after initial short-covering rebound met with renewed selling at 111.80 just ahead of Tokyo open n price then retreated back to 111.54 as news of deployment of N. Korea fighter to boost its air defence triggered another bout safe-haven yen buying.

Yesterday's intra-day 3-legged fall from 112.53 (Asia) to 111.48 in New York morning on escalation in the North Korea war of words by North Korea Foreign Minister signals recent upmove has made a top at last Thursday's 2-month peak at 112.72 and choppy trading with downside bias remains for further weakness towards next chart obj. at 111.12, so selling the usd or rather, buying the yen is the way to go.

Offers are tipped at 111.75/80 and more above with stops above 112.00.
Some bids are noted at 111.55-45 with stops below there, more stops are reported below 111.00.

Although U.S. will release a slew of eco. data (refer to EI page for details), market will be more interested to speeches by 4 Fed officials starting with Cleveland Fed's Mester (non-voter), then Fed Governor Brainard (voter) at 14:30GMT, pay attention to Fed Chair Yellen at 15:50GMT when she speaks at a luncheon themed "Prospects for Growth : Reassessing the Fundamentals" n lastly Atlanta Fed's Bostic (voter) at 16:30GMT, so expect a 'lively' U.S. session later in the day.

 

[AceTRaderForex]

AceTraderFx Sept 28: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
28 Sept 2017 03:10GMT

EUR/USD - 1.1739.. Euro trades sideways in Asia after staging a rebound from Wednesday's fresh 1-month low of 1.1718 to 1.1775 on short covering in New York session.
However, as the single currency has pared said intra-day gain and retreated to 1.1734 in Asia today, suggesting recovery is possibly over n euro bears may well test euro's downside again during European trading as rising U.S. yields is supporting the greenback broadly.
Offers are tipped at 1.1760/70 with stops above 1.1780, more stops are reported above 1.1810.

Initial bids are noted at 1.1720-10 (profit taking) with some stops touted below 1.1700, so selling euro on recovery is the way to go (our daily strategy is holding short entered at 1.1760).

Euro area countries will release a slew of eco. data starting with Germany's Gfk consumer confidence, EU bus. climate, eco. , bus., services n industrial sentiment index n Germany's prel. CPI.
Pay attention to speeches by ECB member Hansson at 06:30GMT, ECB Chief Economist Praet at 08:00GMT and ECB Board member Lautenschlager at 11:00GMT.

 

[AceTRaderForex]

AceTraderFx Sept 29: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
29 Sept 2017 02:50GMT

EUR/USD - 1.1780.. Euro moves narrowly sideways in subdued Asian trading after a tumultuous week which saw the euro tumbling from 1.1960 (New Zealand Monday) to a 1-month low of 1.1718 due to market jitters following uncertainty on the forming of an uneasy German coalition by Merkel's govt. together with hawkish Fed n rising U.S. yields on the back of market renewed optimism of Trump trade following his tax proposal.

Well, despite yesterday's initial weakness to 1.1721 at European open, a bout of broad-based profit taking in the usd quickly lifted the euro n price ratcheted higher to 1.1785 and later to session high of 1.1804 despite upbeat U.S. data, however, price later retreated to 1.1773 at New York midday n moved narrowly in New York afternoon.

Although yesterday's rally to 1.1804 confirms recent decline has made a temp. bottom at 1.1718, further strong rise above 1.1800 is now envisaged and selling on upmove is still favored.
Offers are tipped at 1.1800/10 and more above with stops above 1.1840. Initial bids are noted at 1.1770-60 and more below with stops below 1.1710.

Pay attention to release of a slew of eco. data starting with Herman retail sales, France's consumer spending, CPI n PPI, German unemployment, Italy's CPI n PPIn then EU CPI. ECB's Nouy will speak at 07:30GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 113.06.. Dlr popped higher in early Asian trading due to renewed usd strength following yesterday's gain, price easily penetrated Monday's 113.06 high to 113.17 as rebound in U.S. yields plus yesterday's rise in U.S. stocks to record highs boosted risk appetite, suggesting re-test of last Wed's 2-month peak at 113.26 would be seen after consolidation.

Therefore, buying dlr on dips is the way to go despite Mon's wild swings in New York session, bids are noted at 113.00/112.90 n more below with stops reported below 112.50.
A mixture of offers n stops is touted at 113.25/30.

Data to be released on Tuesday:
China market holiday, Germany market holiday, New Zealand NZIER confidence, GDT price index, Australia HIA new home sales, building permits, RBA interest rate decision, Japan consumer confidence.
U.K. Markit construction PMI, EU producer prices.
U.S. will release Redbook sales n ISM New York bus conditions index later in the day.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
04 Oct 2017 03:20GMT

USD/JPY - 112.67.. In total contrast to dlr's firmness in Asia 24 hours ago, the pair remained on the back foot in early Wednesday's trading as another bout of broad-based usd bashing at Asian open knocked the pair down from 112.90 (AUS) TO 112.51.

Traders cited yesterday's fall in U.S. Treasury yields in New York on market speculation Fed Governor Jerome Powell (a known dove) will be the next Fed Chair when Yellen term expires in Feb 2017. Today's news on BLP TV that Trump aides are said to deliver short list for Fed Chair triggered another round of usd selling.

Pay attention to release of U.S. eco. data starting with ADP private payrolls, Sep reading is expected to come in at 125K vs previous month's figure of 127K due to disruption caused by recent hurricane disruption.
Afterwards, we have Markit services PMI and ISM-non mfg PMI. Last but not least, Fed Yellen will give brief welcome remarks before the Community Banking in the 21st Century Research and Policy Conference hosted by the Federal Reserve Bank of St. Louis at 19:15GMT n this is unlikely to affect the FX market.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Oct 2017 02:40GMT

EUR/USD - 1.1711.. Euro remains on the back foot in Asian trading after intra-day re-test of o/n New York low of 1.1700. Despite yetersday's initial rebound to 1.1779 in early European trading, sellers quickly emerged n pushed price lower, intra-day decline accelerated after release of ECB minutes, euro later hit session lows of 1.1700 on upbeat U.S. data.

As market focus remains on stops below Wed's 5-week trough at 1.1697, more stops are reported below Aug's bottom at 1.1663, so selling euro on recovery is favoured.
Offers are tipped at 1.1720/30 and more above with some stops above 1.1750.
Bids are noted at 1.1700-1.1690 with stops below there, more stops are building below 1.1660.

Ahead of key U.S. NFP, euro area will release a slew of eco. data starting with Germany's industrial orders, France's current account, Italy's retail sales. ECB's de Galhau n Nowotny will both be speaking at an event in Vienna at 13:30GMT.

 

[AceTRaderForex]

AceTraderFx Oct 09: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
09 Oct 2017 02:20GMT

USD/JPY - 112.62.. Dlr opened relatively flat in New Zealand but then fell below Friday's 112.61 low (New York) to 112.33 in Australian morning on renewed safe-haven yen buying in reaction to comments by U.S.
Trump on Sunday said "only one thing will work" in dealing with North Korea after previous administration had talked to Pyongyang without results. Reaction by Rep. Senator Corker (see previous headline) suggested Trump meant going to war.

However, dlr has pared initial loss n edged higher to 112.65 on lack of follow-through selling due to relatively thin market condition as Japanese markets are closed for Health-Sports Day holiday.
Although one can expect more active trading in European morning, trading may slow later in the day as markets in the U.S. n Canada are both closed for Columbus Day and Thanksgiving Day holiday respectively.

Anyway, as Friday's intra-day selloff from a 2-1/2 month peak of 113.44 to 112.61 in post-NFP New York on renewed North Korea tension, selling dlr (buying the yen) on recovery is recommended for correction to occur.
Order board is fairly thin with offers tipped at 112.75/85 and more above with stops above 113.00.
Bids are noted at 112.35-25 with stops touted below 112.20

 

[AceTRaderForex]

AceTraderFx Oct 09: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
09 Oct 2017 09:20GMT

GBP/USD - 1.3119.. Sterling finally found respite in volatile trading on Monday after falling for 5 consecutive days last week to a 4-week trough of 1.3027 in post-NFP New York on Friday due to initial market jitters on Brexit talks and then division over U.K. PM May's leadership.
However, cable gapped higher in New Zealand today to 1.3121 (versus New York close at 1.3063) on media report May may (on pun intended) sack her Foreign Minister Boris Johnson, a known proponent of a 'hard' Brexit.

Despite intra-day retreat to 1.3075 in Asia, renewed buying quickly lifted the pound and price briefly penetrated said 1.3121 res to 1.3125 in Europe n as price is currently trading with a biddish tone, suggesting the pair may head higher on more short covering (what goes down must rebound).
Bids are noted at 1.3100-1.3090 with stops below 1.3070, some offers are tipped at 1.3125/35 with stops above 1.3150.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
10 Oct 2017 02:20GMT

USD/JPY - 112.63.. Despite yeterday's quiet move in Asia due to market holiday in Japan, the pair sprung to life and briefly jumped to intra-day high of 112.83 on dovish comments by BoJ Governor Kuroda (he actually said nothing new), price quickly retreat due to renewed broad-based usd's weakness.

Looks like choppy sideways swings would continue but as dlr's decline from 113.44 (Friday) to 112.33 initially in Australia yesterday signals recent upmove has made a temp. top there, consolidation with downside bias is seen.
Offers are tipped at 112.80/00 area with some stops above there.
Initial bids are noted at 112.505-50 and more below with fairly large stops touted below 112.20.

Although U.S. markets will re-open later today after Mon's Columbus Day holiday, U.S. eco. calendar is very light with Redbook retail sales being the only data due out. Pay some attention to speech by Minneapolis Fed President Kashari at 16:00GMT.