AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 112.47.. Dlr traded in volatile fashion in 'hectic' Asian morning session. Although price rallied in New York morning to 112.46 at New York close on rebound in U.S.
Treasury yields, price retreated to 112.23 shortly after Tokyo open on broad-based usd's weakness, however, the pair quickly rebounded as the greenback erased initial gain vs G7 currencies n this helped price climb to intra-day high of 112.59.

As price has maintained a steady to firm undertone at Tokyo lunch break, suggesting range trading with upside bias would be seen in European morning. In addition, traders are awaiting release of Fed minutes of last FOMC meeting which may reveal more hawkish info that a rate hike will highly be likely in Dec, therefore, dlr may trade with a biddish tone for rest of the day.

Bids are noted at 112.40-30 and more below with stops reported below 111.90.
Some offers are tipped at 112.60/70 with stops touted above 112.85.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
12 Oct 2017 02:00GMT

USD/JPY - 112.38.. Although the pair maintained a relatively steady undertone in post-Fed minutes NY after intra-day rebound from 112.08 to 112.56 in New York due to active cross-selling in the yen, price inched lower in Asia on renewed broad-based usd's weakness, however, as U.S. Treasury yields remain fairly steady, suggesting choppy sideways swings above this week's low at 111.99 (Tuesday) would continue.

Offers are tipped at 112.50/60 with stops above there, more selling interest is reported at 112.70/80 with stops above 113.00.
Bid are noted at 112.10-00 with stops reported below there.

Ahead of Fri's key U.S. CPI data, we have a slew of data later in the day starting with weekly jobless claims, Sep PPI data.
We have 2 Fed Governors, Powell and Brainard who will be speaking later today both at 14:30GMT but at different venues.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
13 Oct 2017 04:00GMT

EUR/USD - 1.1839.. Despite continuing its recent winning streak on Thur n hitting a fresh 2-week high of 1.1880 at European open, intra-day selloff in sterling pulled euro lower to 1.1829 n subsequent rally in cable pressured price to session low of 1.1828 in New York afternoon due to selloff in eur/gbp cross.

The single currency traded narrowly in Australia n briefly dipped to 1.1826 when Reuters reported the ECB will reduce its QE purchase by a half but price inched back to 1.1847 in Asian morning on lack of follow through selling, suggesting range trading would be seen. As Thursday's decline from 1.1880 signals recent upmove has made a temp. top, consolidation with nr term downside bias is expected ahead of release of key U.S. CPI n retail sales data.
Offers are tipped at 1.1850/60 n more above with stops above 1.1880 n more above 1.1900.
Bids are noted at 1.1830-20 n more below with stops reported below 1.1790.

The euro area countries will release a slew of eco. data starting with Germany's CPI n the same from Italy. ECB's Mersch will speak in Luxembourg at 09:30GMT, German FinMin Schaeuble/Bundesbank-President Jens Weidmann will speak on G20 and IMF-Meeting at 12:00 GMT n later in New York session, several ECB officials will be speaking at the 2017 IMF/World Bank Annual meeting; ECB's Draghi, Coeure, Constancio n Lautenschaleger will speak in Washington D.C. (refer EI page for details).

 

[AceTRaderForex]

AceTraderFx Oct 16: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
16 Oct 2017 3:00GMT

EUR/USD - 1.1804.. Euro remains on the back foot in Asian trading on Mon. Despite initial recovery from 1.1805 (New Zealand) to 1.1820 in Asia, price fell to 1.1799, traders citing political woes (see early and weekend updates for details) being the reasons for euro's weakness.

The weekend election win by Austria's Conservative party which will form coalition govt. with the far-right, the Sunay's regional loss by Germany Merkel's party and then deadline for Catalan govt. to clarify independence from Spain are the negative factors weighing on the euro.

So far, euro has held reasonably well despite aforementioned negative political backdrop, one needs to see market reaction at European open.
Offers are tipped at 1.1825/30 and more at 1.1850/55 with stops above 1.1880.
Bids are noted at 1.1700-95 with stops touted below 1.1790.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
17 Oct 2017 2:30GMT

USD/JPY - 112.11.. Despite yesterday's initial fall from Asian 112.08 high to a 2-1/2 week's trough of 111.65 in early European trading on cross-buying in yen, the pair swung sideways above said intra-day low in New York morning before rallying to 112.28 in late U.S. trade as rebound in U.S. yields in reaction to media report that U.S. Trump may pick John Taylor of 'Taylor Rule' fame (a Harvard professor who favours raising interest rates, lifted the greenback across the board.

As dlr's has pared yesterday's gain after rising marginally higher to 112.31 in Asia, suggesting a temp. top has been made n range trading is in store, however, as long as U.S. yields stay steady to firm, consolidation with upside bias remains for stronger retracement of recent decline.

Bids are noted at 112.05-111.95 and more below with stops below 111.60.
Offers are tipped at 112.30/40 with stops reported above 112.60.

U.S. will release of eco. data starting with import n export prices, Redbook retail sales, industrial production, capacity utilization, mfg output n NAHB housing market index. Philly Fed President Harker (voter) will deliver a speech at 17:00GMT.

 

[AceTRaderForex]

AceTraderFx Oct 18: Intra-Day Market Moving News and Views - EUR/USD

Intra-Day Market Moving News and Views
18 Oct 2017 4:00GMT

EUR/USD - 1.1773.. Euro pares yesterday's losses in Asia n briefly recovered to 1.1781 at Asian open on a bout of broad-based short covering after extending decline from Monday's 1.1825 high to 1.1737 in New York morning yesterday.

The single currency remained on the back foot in Australia on Tuesday and fell from 1.1800 (AUS) to 1.1776, then 1.1755 in Europe. Price later hit session lows of 1.1737 b4 rebounding to 1.1774 as retreat in U.S. Treasury yields led to broad-based usd's decline.

Although euro's intra-day rebound from 1.1737 suggests decline from 1.1880 (last week's high) and made a temp. low at 1.1737 and range trading is in store, as long as 1.1780/00 res area holds, marginal weakness below 1.1737 is still envisaged before prospect of rebound, so selling euro on recovery is cautiously favoured as political uncertainty in Europe still weighs on the euro.
Offers are tipped at 1.1780/90 with stops above 1.1825.
Bids are noted at 1.1755-50 with stops below 1.1730.

Eco. calendar is very light with EU construction output being the only data due out. However, pay attention to speeches by a line of ECB officials starting with ECB President Draghi will make an opening speech at ECB Conference "Structural
reforms in the euro area" in Frankfurt at 08:10GMT, ECB Chief Economist Praet will speak at 11:45GMT in Frankfurt, ECB Supervisor Nouy will speak in Basel at 12:00GMT n ECB Board member Coeure will speak in Frankfurt at 14:15GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
19 Oct 2017 2:50GMT

USD/JPY - 103.01.. Dlr maintains a biddish done in choppy Asian trading after yesterday's rally from 112.14 to a 1-week high of 113.05 in New York on the back of rising U.S. Treasury yields (benchmark 10-year yields climbed from 2.998% to 2.3519%).

Although price extended Wed's sharp gain to 113.10 in Australia, intra-day renewed usd's weakness quickly sent dlr lower to 112.88 shortly after Asian open, suggesting upmove from Monday's 2-1/2 week trough at 111.65 has possibly made a temp. top and range trading is likely to be in store.
Bids are noted at 112.80-70 with stops below 112.50, offers are tipped at 113.30/40 with stops reported above October's peak at 113.44.

U.S. will release weekly initial jobless claims, Philly Fed survey and finally leading indicator.
Also Kansas City Fed President George (non-voter will speak at 13:30GMT followed later by Cleveland Fed Mester (non-voter) at 18:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
20 Oct 2017 3:20GMT

USD/JPY - 113.19.. Despite trading in relative stable to firm manner in early Asian morning, the greenback 'jumped' across the board on news headline '"U.S. Senate passes budget blueprint to Trump tax reform", market interpreted this as paving the way for Trump's tax cut package by the Republican without support from the Democrats, U.S. Treasury yields immediately rose (benchmark 10-year rallied from 2.316 to 2.359%) and this sent the pair rallying 112.74 to as high as 113.31.

As long as U.S. yields are on the rise, dlr will head higher on this, so trading the buck from long side is therefore recommended n European traders will most likely do the same when they arrive in reaction to this U.S. tax reform news.
Bids are noted at 113.05-112.95 and more below with some stops below 112.70.
Offers are tipped at 113.30/40 with stops touted above 113.50.

BoJ Gov. Kuroda will deliver a speech at 06:35GMT at an annual conference in Tokyo.
U.S. will release existing home sales and later at 18:00GMT, Cleveland Fed President Mester (non-voter) will speak in New York and last but not least, Fed chair Yellen will make a very late speech at 23:30GMT in Washington at a dinner conference.

 

[AceTRaderForex]

AceTraderFx Oct 27: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
27 Oct 2017 4:00GMT

USD/JPY - 114.16.. Dollar maintains a biddish tone in Asian trading following yesterday's erratic rise from 113.34 to 114.07 on broad-based usd's strength triggered by intra-day selloff in eur/usd.

The pair met renewed buying at 113.97 in Australia n climbed to a fresh 3-1/2 month high of 114.27, however, price then eased ahead of Tokyo lunch break on lack of follow-through buying. Looks like range trading is seen until European open and present firm U.S. yields (benchmark 10-year is currently near Wed's 7-month high of 2.4754%) should provide support for the buck. Therefore, buying on dips is favoured.
Bids are noted at 114.00-113.90 with stops below 113.60-55.
Offers are tipped at 114.30/40 with stops above 114.50.

Pay attention to release of key U.S. prel. Q3 GDP at 12:30GMT together with PCE. Then University of Michigan consumer confidence at 14:00GMT.
If GDP and PCE beat forecasts, then expect another bout of buying for the usd.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
30 Oct 2017 3:00GMT

USD/JPY - 113.68.. Dlr remains on the back foot in fairly subdued Asian trading after falling from Fri's fresh 3-1/2 month peak of 114.45 on the back of robust U.S. GDP as well as rising U.S. Treasury yields (benchmark 10-year yields climbed to fresh 7-month high of 2.4774%), however, the greenback fell broadly in New York morning on Bloomberg news that Trump is leaning towards current Fed Governor Powell (who is seen by market to follow the foot steps of Fed chair Yellen) as the next Fed chief (however, he hasn't made up his mind) and U.S. yields also retreated sharply on the BLP report.

Despite trading narrowly in New Zealand and Australia earlier on Monday, further weakness in U.S. yields (10-year is currently at 2.4028%) pressure dlr to 113.63, suggesting consolidation with downside bias remains for a much-needed correction towards 113.40-30.
Offers are tipped at 113.85/95 and more above 114.00 with stops reported above 114.50.
Initial bids are noted at 113.50-40 and more below with stops below 113.20.

The BOJ starts its 2-day monetary policy meeting today. U.S. will release Sep personal consumption expenditure (PCE), personal spending, personal income and then Dallas Fed mfg business index.

 

[AceTRaderForex]

AceTraderFx Oct 30: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
30 Oct 2017 10:30GMT

GBP/USD - 1.3160... The British pound traded with a firm bias in Asia n gained in tandem with euro to 1.3150 ahead of European open.
Cable found renewed buying at 1.3127 in early European morning and hit a session high at 1.3169 in Europe due partly to dlr's broad-based weakness.

Bids are now seen at 1.3110/20 and more below at 1.3090/00 with stops building up below there whilst initial offers are noted at 1.3180/90, suggesting choppy trading with upside bias would be seen.

Data to be released, Germany retail sales, Swiss KOF leading indicator, U.K. mortgage approvals, EU business climate, economic sentiment, industrial sentiment, servcies sentiment, consumer confidence,

 

[AceTRaderForex]

AceTraderFx Oct 31: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
31 Oct 2017 2:10GMT

USD/JPY - 113.13.. Dlr remained on the back foot in heavy trading on Monday after getting hit by a triple whammy of news and events which led to falling U.S. yields n brad-based usd's weakness in New York session.

The pair staged a short-covering rebound from 113.53 (Asia) to 113.76 in Europe but later tumbled in New York to 113.38 in the morning on news of indictment of Trump's previous campaign manager Manafort and his associates, then media report reiterated current Fed Governor Powell is most likely to be Turmp's choice to be the next Fed chair, last but not least, Trump's tax reform (corp. tax cut to 20%) is reported to be phased-in over a period of 4 year later knocked price to session lows of 113.03.

The pair came under renewed selling pressure ahead of Tokyo open n briefly fell to 112.98 after hitting small stops below 113.00 but dlr quickly bounced on buying by Japanese names (importers).
Looks like range trading is in store ahead of BoJ's announcement of its monetary policy decision around 03:30-04:30GMT and then BOJ Governor's post-BOJ press conference at 06:30GMT.
Bids are noted at 113.00 and more below with stops below 112.65.
Offers are tipped at 113.30/40 with stops reported above 113.80.

U.S. will release Redbook retail sales, CaseShiller home prices, Chicago PMI and consumer confidence.

 

[AceTRaderForex]

AceTraderFx Oct 31: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
31 Oct 2017 10:30GMT

GBP/USD - 1.3210... The British pound has spent a lacklustre day trading inside a narrow 30-pip range. Price found renewed buying at 1.3192 in Asian morning n staged a rebound to 1.3223 ahead of European open due partly to cross-buying of sterling vs euro before stabilising.

Order book remains light in the absence of major UK data today and as investors awaiting BoE's policy decision on Thursday.
Some bids are now seen at 1.3170/80 and more below at 1.3150/60 with stops building up below there whilst initial offers are noted at 1.3280/90.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1630.. Euro remained on the back foot in Asian trading after yesterday's marginal gain above Monday's 1.1658 high to 1.1661 in New York morning n repeated news of release of U.S. House tax bill (delayed until Thursday) led to broad-based usd's strength, suggesting correction from 1.1575 (Friday) has ended there, so selling euro on recovery is therefore recommended.
Offers are tipped at 1.1645/55 and more above with stops above 1.1670.
Some bids are touted at 1.1625-15 with stops below 1.1600, more stops are building below 1.1570.

No eco. data is release from the euro area countries as financial markets in many countries are closed for All Saints Day holiday.

 

[AceTRaderForex]

AceTraderFx Nov 02: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
02 Nov 2017 03:20GMT

EUR/USD - 1.1672.. Despite swinging broadly sideways inside a fairly tight-range in directionless Wednesday's session, the euro jumped shortly after Asian open due to intra-day broad-based usd's weakness (see previous yen's update for plausible reason for this).
Price penetrated yesterday's 1.165 high and then Tuesday's 1.1661 top to 1.1672 after tripping some stops along the way, however, price steadily eased ahead of Tokyo lunch break on lack of follow-through buying.

Although this week's erratic rise and choppy sideways swings suggests further volatile consolidation above last Friday's 3-month trough at 1.1575 would continue until release of Friday's key U.S. jobs data, unless price can close above 1.1670 (previous sup, now res), then another decline may ensue later in the day but we have to wait for European traders' reaction to media report of current Fed Gov. who is tipped to take the helm of the Fed when Yellen ends her term on Feburary 01, 2018.
Bids are noted at 1.1640-30 and more below with stops below 1.1600.
Offers are tipped at 1.1670/80 and more above with stops above 1.1700.

Euro area countries will release a slew of eco. data starting with Italy's Markit mfg PMI, then the same from France and Germany, German unemployment and lastly EU Markit mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
03 Nov 2017 02:20GMT

USD/JPY - 113.94.. Dlr trades relatively narrowly but with a soft bias in subdued Asian morning as Japanese financial markets are closed for Culture Day holiday.

Despite swung wildly in hectic Thursday trading, the pair ended the day going nowhere. Price recovered from Asian 113.74 low to 114.21 in New York before tanking to 113.54 after U.S. tax reform plan was released in New York morning, however, price bounced back to 114.17 on broad-based recovery in the buck.

Sideways trading is expected as traders are keeping their powder dry for the final but most important eco. data for the week, the famous or infamous U.S. jobs report.
Market is looking for a blockbuster number of 315k increase in non-farm payroll increase vs last month's reading of -33K due to hurricane disruption, so if the actual number comes in as per forecast plus a decent monthly wage growth of 0.2% or higher, the buck will gain vs its major peers, if the number falls short of expectation, then beware of a broad-based usd bashing ahead of the weekend.

Offers are tipped at 114.15/25 with stops above 114.50.
Bids are noted at 113.70-60 with stops below 113.50, more stops are reported below 112.90.

U.S. will release jobs data, wage growth, trade balance all at 12:30GMT, then factory orders, durable goods orders, ISM non-mfg PMI, Markit services PMI. Minneapolis Fed President (voter) will speak at 16:15GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Nov 2017 03:00GMT

USD/JPY - 114.58.. The Japanese yen took centre stage in active Tokyo trading. Although price opened lower at New Zealand open on Monday, renewed buying at 113.96 quickly lifted price n the pair continued to move higher when Tokyo trading got underway.

Intra-day rise accelerated after dovish comments by BoJ's Kuroda (though nothing new, see early updates for details) is speaking at a meeting with business leaders in Nagoya, Japan n dlr penetrated previous October's 114.45 high and climbed to a 7-1/2 month peak at 114.74 after tripping stops above 114.45/5.
Expect minor consolidation before prospect o further rise, so buying dlr again on dips is favoured following Friday's rally in post-NFP New York session on the back of upbeat ISM -non-mfg PMI and services PMI.

Bids have been raised to 114.45-35 with stops below 114.00, offers are tipped at 114.75/85 with stops above 115.00.

No U.S. eco. data is due out today but New York Fed President Dudley will speak before a luncheon of the Eco. Club of New York at 17:10GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Nov 2017 03:00GMT

USD/JPY - 113.88.. Dlr pares o/n losses n inches higher from New York low of 113.70 after meeting some buying interest at 113.71/72 in Asia.

Despite yesterday's initial rally to a 7-1/2 month peak of 114.74 on broad-based yen selling, the greenback quickly relinquished its intra-day gain n retreated to 113.96 in Europe due to falling U.S. yields.
Price staged a modest to 114.19 in New York morning before falling on the back of broad-based usd's weakness to session lows of 113.70 near the close.

Looks like yesterday's 114.74 high would hold for a day or 2 and choppy consolidation is in store, so one can sell the greenback of recovery due to falling U.S. yields (benchmark 10-year is currently at 2.3271% vs October's high at 2.477%) or on next decline.
Offers are tipped at 114.00/10 and more above with stops above 114.45.
Bids are noted at 113.70 with stops below 113.50.

No U.S. eco data is due out but out-gong Fed chair Yellen will give a speech (unrelated to Fed policy) in Washington at 19:30GMT.

 

[AceTRaderForex]

AceTraderFx Nov 08: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
08 Nov 2017 03:40GMT

EUR/USD - 1.1594.. Despite hitting a fresh 3-month trough of 1.1554 in Europe on Tuesday after penetrating October's bottom at 1.1575, the single currency regain traction in New York trading n ratcheted higher on short covering to 1.1592 in New York afternoon due to broad-based weakness/retreat in the usd.

The pair briefly climbed to 1.1606 after tripping some stops above 1.1600 ahead of Asian open following report from The Washington Post of possibly delays to U.S. corporate tax cut (see earlier update for details), Despite intra-day minor pullback, range trading with upside bias is likely to continue in Europe and pay attention to reaction from European traders to the The Washington Post's report which may lead to further buying of the euro (or usd selling).
Bids are noted at 1.1585-75 and more below with stops reported below 1.1550.
Offers are tipped at 1.1615/25 with stops above there.

Eco. calendar in the euro area countries is very light today with France's trade balance being the only data due out. German Chancellor Merkel will speak at Presentation of Economic Council's Report at 10:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
09 Nov 2017 02:40GMT

EUR/USD - 1.1595.. The single currency orbited 1.1600 level in lack lustre Wednesday's session without a clear direction. Despite initial firmness in Asia and European morning due to usd's broad-based weakness on possible delay in U.S. tax reform, selling at 1.1611 capped intra-day gain and price ratcheted lower to 1.1579 in New York morning and later moved narrowly below 1.1600 for rest of the New York session.

Although euro's rebound from 1.1554 (Tuesday) to 1.1611 yesterday signals recent decline has made a temp. low, subsequent retreat to 1.1579 in New York suggests range trading would continue with a neutral bias, however, as long as previous res at 1.1616/24 holds, prospect of another fall still remains.

Offers are tipped at 1.1610/20 with stops above 1.1630.
Bids are noted at 1.1580-70 with stops reported below 1.1550.

Germany will release several trade data n EU will release eco. bulletin and eco. growth forecasts.
There will be a number of ECB members speaking today starting with ECB's Nouy, ECB's Coeure, ECB's Mersch, ECB's Constancio n ECB's Lautenschlager.