AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
10 Jan 2018 03:15GMT

USD/JPY - 112.25.. Dlr languished near last Tuesday's 2-week low at 112.06 after intra-day selloff from 112.79 to 112.17 in hectic Asian morning.

Trading the dlr proved to be tricky on Tue as price swung wildly as despite initial fall from 113.18 to 112.50 after BoJ trimmed its bond buying, price rebounded strongly to 112.96 in Europe due to renewed usd's strength but only to succumbed to broad-based yen buying n tumbled to 112.37 in New York morning.
However, intra-day rally in U.S. yields where the benchmark 10-year yield soared to a 10-month high of 2.55% lifted price to 112.68.
Intra-day weakness suggests market is now keen to test previous good sup area at 112.00/06. So selling dlr on recovery is the way to go.
Offers have been lowered to 112.40/50 and more above with stops above 112.80.
Bids are noted at 112.10-00 with stops reported below there.

On the data front U.S. will release MBA mortgage applications, import and export price and wholesale trade data.
A no. of Fed presidents will be speaking later today starting with Chicago Fed's Evans (non voter), Dallas Fed's Kaplan (non voter) n lastly St. Louis Fed's Bullard (non voter).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
11 Jan 2018 03:15GMT

EUR/USD - 1.1967.. Euro moves narrowly in subdued Asian morning as Asian traders are on the sideline after yesterday's roller-coaster move. Despite meeting renewed buying at 1.1923 ahead of European open and then a brief but sharp jump to 1.2018 at London midday due to usd's selloff on the China news, North American traders sold the euro steadily throughout New York session and pushed price back down to 1.1941 in the afternoon, suggesting range trading would continue in European morning.

Looks like consolidation is the order of the way with buyer on dips and sells on rallies.
Bids are noted at 1.1945-40 n more below with stops below this week's low at 1.1916.
Offers are tipped at 1.1975/85 ans more above with stops reported above 1.2020.

On the eco. data front, Germany will kick off with GDP, Italy's retail sales, EU industrial production n ECB will release minutes of its last monetary policy meeting (a potential market mover) at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
12 Jan 2018 04:00GMT

USD/JPY - 111.27.. Dlr remains on the back foot in fairly choppy Asian morning after yesterday's selloff in Europe and then New York to a fresh 6-week trough of 111.05.

Traders citing usd's selloff ahead of New York open due to rally in euro after release of hawkish ECB minutes and then sharp fall in U.S. yields on good demands in U.S. 30-tear bond auction were the key drivers for the pair's decline.

Although short-term specs tried to knock dlr down at Tokyo open on stop hunting, buying interest (Japanese importers on bargain hunting) at 111.06 quickly lifted the pair to 111.35, suggesting range trading would continue in Europe.
Offers are tipped at 111.35/45 n more above with stops above 111.90/00.
Bids are noted at 111.10-00 with stops below there, however, more stops are touted below November's bottom at 110.84.

As mentioned in yesterday's update, market will pay close attention to release of U.S. retail sales n CPI data, if bother set of numbers come out below street forecast, then be prepared for another round of usd bashing..... T.G.I.F....

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
15 Jan 2018 03:30GMT

USD/JPY - 110.77.. Dlr remains on the back foot after languishing above Monday's 4-month trough of 110.63 after intra-day break of Friday's 110.92 (New York) low at 110.92, then 110.84 (November bottom).

The fact that price is unable to stage a short-covering rebound suggests downside bias remains for further weakness after consolidation, present retreat in U.S. yields adds credence to this view, however, steep fall is not envisaged in European trading due to near term loss of downward momentum.

Offers have been lowered to 110.90/00 with stops above 111.20.
Bids are noted at 110.65-60 n more below with stops below 110.50.

No U.S. data is due out later today as U.S. markets are closed are closed for Martin Luther King Jr holiday.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
16 Jan 2018 03:30GMT

EUR/USD - 1.2265.. Euro is in consolidative mode in subdued Asian trading today after Monday's rally to a fresh 3-year peak of 1.2297.
However, subsequent sideways swings in quiet North American session suggests further range trading is in store until European open as market awaits release of German inflation at European open, if actual come in higher than forecast, then this will give euro bulls another reason to bid the single currency higher.

For now, offers are tipped at 1.2280/90 with some stops above 1.2300.
Bids are noted at 1.2250-40 with stops below 1.2220.

On the eco. dat front, Germany will kick off with CPI, HICP n wholesale price index, then France's budget balance and then Italy's trade balance plus CPI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
17 Jan 2018 03:20GMT

USD/JPY - 110.65.. Dlr rises in hectic Asian trading on active short covering after yesterday's resumption of decline to a fresh 4-month trough of 110.25 as selloff in the Dow (the DJI index fell from record highs of 26086 to 25702) spoofed investor and led to broad-based yen buying on risk aversion.

Despite initial renewed usd's weakness shortly after Tokyo open on news of a possible U,S. govt. shutdown (see early update) which briefly knocked the pair to 110.20, renewed dlr buying quickly emerged n lifted price higher to 110.68 ahead of Tokyo lunch break, suggesting recent decline has made a temp. low and upside bias is seen for further retracement towards Tuesday's 110.98 high after consolidation.
Bids are noted at 110.50-40 n more below whilst offers are tipped at 110.85/90 with stops touted above 111.00/10.

On the data front, U.S. will release MBA mortgage applications, Redbook sales, industrial prod., capacity ultization, manf. outpt, NABH housing market index and Fed's beige book. 3 Fed Presidents will be speaking in New York afternoon starting with Chicago Fed's Evans, Dallas Fed's Kaplan and Cleveland Fed's Mester.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
18 Jan 2018 03:00GMT

USD/JPY - 111.30.. Despite continuing recent decline yesterday and falling for 7 consecutive days to a fresh 4-month trough of 110.20 shortly after Asian open, dlr rallied on short covering to 110.93 in Europe, then later to 111.35 in late New York trade on broad-based usd rally due partly on rising U.S. Yields and U.S. stocks where the Dow closed at record highs.

Intra-day firmness suggests upside bias remains for further gain after near term consolidation is over as yesterday's rally above previous res at 110.93/98 (now sup) signals a long-overdue correction has taken place.
Bids are noted at 111.20-00 with stops below there, more buying interest is reported at 110.80-70 with stops below 110.60 (New York low).
Offers are tipped at 111.35/45 with stops above 111.50, more stops are touted above 111.90.

Later today, U.S. will release a slew of eco. data starting with weekly jobless claims, housing starts, building permits, Philly Fed survey n to end the day, Cleveland Fed's Mester (voter n a hawk) will speak on monetary policy at the Council for Economic Education's Economists on the Economy in New York at 23:05 GMT (this means Friday for AsiaPac traders).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
19 Jan 2018 03:00GMT

USD/JPY - 111.01.. Dlr orbits 111.00 handle in directionless Tokyo morning after yesterday's intra-day strong retreat from 111.48 (Asia) to 110.70 near New York midday due to renewed market jitters of a possible U.S. govt. shut down, however, rising U.S. yields lifted price back up to 111.20 near the close.

Despite U.S. stopgap bill was passed by the U.S. House, as it needs to go through the tough Senate in order to prevent a shutdown by the end of Friday, dlr is not out of the woods, so usd buyers are hesitant to push the pair higher, suggesting range trading would prevail for the time being.
Bids are noted at 110.95-85 with stops below 110.70.
Offers are tipped at 111.20/30 with stops above 111.50.

The only eco. data due out later today is University Michigan consumer confidence at 15:00GMT, however, pay attention to speeches by Fed's Bostic, Fed's Quarles and Fed's Williams. As market showed muted reaction to 'hawkish' Cleveland Fed Mester's hawkish (pun intended) comments (see early update) ahead of Asian open, one can expect market will not react to their speeches also. T.G.I.F.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Jan 2018 03:00GMT

USD/JPY - 110.78.. Despite initial lower open on Monday to 110.53 due to usd's broad-based weakness following U.S. govt. shutdown, the pair edged higher in Tokyo trading as the greenback pared intra-day losses, present rising U.S. yields where benchmark 10-year rose above Friday's 3-1/2 year high of 2.663% to 2.672% also lends sup to the buck.

Looks like range trading above Friday's 110.49 low would continue until European open.
Bids are noted at 110.60-50 with stops building sup below last week's low at 110.20, however, there is market chatter of option defence at 110.00.
Offers are tipped at 111.85/95 with stops above 111.0, more stops are reported above 111.20.

U.S. eco. calendar is pretty light with Chicago Fed National Activity index being the only data due out but market may pay attention to vote outcome of the stopgap spending measure by the Senate which has been rescheduled to 17:00GMT later today.

 

[AceTRaderForex]

AceTraderFx Jan 23: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
23 Jan 2018 04:00GMT

EUR/USD - 1.2259.. Euro swung broadly sideways in directionless trading on Monday, suggesting price is not in a hurry to re-test last Wednesday's 3-year peak of 1.2323.

Despite euro's retreat from European morning high of 1.2267 to 1.2225 at New York midday on news a deal would be struck to end U.S. govt. shutdown, price quickly rebounded as usd erased intra-day gain on this news, euro later ratcheted higher to 1.2276 in Asia.

Range trading is expected to continue with offers tipped at 1.2275/85 with stops above 1.2300, more stops are reported above 1.2325/30.
Bids are noted at 1.2240-30 and more below with stops below 1.2210.

Pay attentio to release of Germany's n EU's ZEW economic confidence n later EU's consumer confidence during NY morning.

Today is EU Eco. n Financial Affairs Council meeting and ECB's Vice President Constancio will be speaking in the meeting. Also, today, is the start of the 4-day World Economic Forum in Davos Switzerland.

 

[AceTRaderForex]

AceTraderFx Jan 24: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
24 Jan 2018 02:50GMT

EUR/USD - 1.2305.. Euro stands tall in Asian morning after pushing higher above yesterday's high at 1.2306 (New York) to 1.2315 as renewed usd's weakness ahead of Asian open prompted short-term specs to buy the euro.

Yesterday's rally was triggered by release of upbeat euro zone consumer confidence which came out in New Yorki morning and in the absence of key U.S. eco. data, traders sold the greenback broadly after the data.
Intra-day firmness suggests market participants are keen to push price above last Wednesday's 4-month peak at 1.2323 where stops are touted above 1.2330, so buying the single ccy on pullback is recommended.
Bids have been raised to 1.2280-70 with stops below there, offers are tipped at 1.2315/25 with stops above there.

Today is PMI day, France will release Markit manufacture and services PMIs, then the same from Germany and the EU.

 

[AceTRaderForex]

AceTraderFx Jan 25: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
25 Jan 2018 03:00GMT

USD/JPY - 109.11.. Despite staging a short covering rebound ahead of Tokyo open after yesterday's sharp fall to a fresh 4-month trough at 108.97 in New York following weak dollar comments by U.S. Treasury Secretary Mnuchin in European morning, renewed selling emerged at 109.47 shortly after Tokyo open and knocked price lower, suggesting recovery is over and price would resume resume decline in European trading.

Therefore, selling the greenback of recovery is the way to go but it is unlikely dlr would repeat decline in the same magnitude today like we saw yesterday.
For now, offers are tipped at 109.40/50 with stops above 109.65.
Bids are noted at 109.00-108.90 with some stops below there.

U.S. will release initial weekly jobless claims, wholesale inventories, news home sales and KC Fed Manufacturing Index, however, market is awaiting Friday's key GDP and durable good orders.

 

[AceTRaderForex]

AceTraderFx Jan 26: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
26 Jan 2018 03:15GMT

EUR/USD - 1.2426.. Euro edges higher in relatively calm Asian trading after Thursday's wild swings.

Despite jumping to a fresh 3-year high of 1.2538 after tripping stops n option barrier at 1.2500 following ECB Draghi said the ECB did not target FX rates when asked about the strength of the single currency.
However, just when euro bulls were making their victorious war dance, surprise comments by Trumps who said he wanted a strong dollar sent the greenback rallying broadly n this in turn knocked the pair to as low 1.2365.

Although euro has edged higher on renewed buying (bargain hunting perhaps), one should pay attention to euro's performance in early European morning to see European traders' reaction to Trump's remarks which came well after European closing.
For now, broad sideways swings above 1.2365 is expected.
Bids are noted at 1.2380-70 with stops below 1.2360, some offers are tipped at 1.2435/45 with stops above 1.2460.

Ahead of release of key U.S. eco. data, the only data due out during European morning are France's business climate and consumer confidence.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
29 Jan 2018 03:15GMT

USD/JPY - 108.87.. Dlr gains respite in Tokyo trading after hitting a 4-1/2 month trough of 108.29 due to broad-based yen buying in New York session despite rally in U.S. Treasury yields where benchmark 10-year climbed to a 3-1/2 year high of 2.6916%.
However, short covering briefly lifted price to 109.05 in New York afternoon.

Despite dlr's initial weakness to 108.51 at Asian open, buying on bargaining hunting (Japanese importers) emerged and lifted price to 108.99, suggesting choppy trading above said Friday's temp. low would continue.
Bids are noted at 108.60-50 with stops below there.
Offers are tipped at 109.00/05 with stops above there, however, more selling interest is touted at 109.55/75 area.

U.S. will release person income n spending, PCR, core PCE and Dallas Fed mfg business index later today.

 

[AceTRaderForex]

AceTraderFx Jan 30: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
30 Jan 2018 03:05GMT

EUR/USD - 1.2283.. Euro also pares yesterday's losses and maintains a steady to firm undertone in subdued Asian morning.

The single currency came under broad-based selling at 1.2428 right at European open on Monday and fell steadily to session lows of 1.2338 in New York morning on broad-based long liquidation in the euro vs usd, yen, gbp as well as chf. However, renewed buying emerged at New York midday and later lifted price back up to 1.2389/90.

Sideways swings above 1.2338 is expected until European open and one can trade from both sideways of the market as traders are keeping their powder dry ahead of Fed's rate decision on Wednesday.
Offers are tipped at 1.2390/00 n more above with stops above 1.2430/35.
Bids are noted at 1.2470-60 with stops below 1.2330.

Euro area counties will release a slew of eco. data (see EI page for details). ECB's Villeroy will speak at a conference in Paris at 11:00GMT, then France's FinMIn Le Marie will speak in Paris at 16:00GMT n at 16:30GMT, ECB's Mersch will speak in at Goethe University in Frankfurt.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
31 Jan 2018 03:45GMT

EUR/USD - 1.2425.. Euro edged higher in Asia after yester'day's intra-day rally from 1.2336 (Europe) to 1.2454, however, despite subsequent retreat to 1.2384 on profit taking after upbeat U.S. consumer confidence, intra-day gain suggests consolidation with upside bias remains.

Bids are noted at 1.2400/1.2390 with stops below 1.2384.
Offers are tipped at 1.2440/50 with stops above 1.2500.

Euro area countries will release a slew of eco. data (pl refer to EI page for details) n we have ECB's Lane speaking at 09:50GMT n then ECB's Coeure at 09:50GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
01 Feb 2018 03:00GMT

USD/JPY - 109.33.. The greenback maintains a firm undertone after yesterday's cross-inspired rise from 108.60 (Europe) to as high as 109.45 following release of upbeat U.S. ADP private payrolls n then mildly hawkish FOMC statement.

Despite a brief pullback to 109.00 on profit taking in choppy post-FOMC trading, price ratcheted higher to 109.41 in Asia, suggesting consolidation with upside bias remains for further gain.
Bids are noted at 109.10-00 n more below with stops reported below 108.60.
Offers are tipped at 109.40/45 with stops above there, more selling interest is touted t 109.60/70 with stops above 109.80.

Today is PMI day, U.S. will release Markit manf. and ISM mfg PMIs as well as construction spending.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
02 Feb 2018 03:15GMT

EUR/USD - 1.2490.. Despite closing above the 1.2500 handle for the first time in over 3 years, intra-day rise in dlr/yen led to broad-based rebound in the greenback in Asia n euro pares yesterday's rally and is trading at intra-day low, suggesting price is not ready to re-test last Thursday's 3-year peak at 1.2538.

Expect range trading until European open and bids are noted at 1.2480-70 with some stops below there. More stops are touted below 1.2460.
On the upside, offers are tipped at 1.2520/30 with stops above 1.2550.

Euro area countries will release a slew of eco. data starting with Italy's CPI, EU PPI. ECB's Coeure will deliver a speech in Slovenia at 10:00GMT n then ECB's Villeroy and ECB's Lane will both speak at a conference in Dublin at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
05 Feb 2018 03:15GMT

USD/JPY - 109.88.. Dlr remains on the back foot in Asian trading as Friday's U.S. stock market rout continued in Asia as 2.5% selloff in the Nikkie prompted active cross-buying of yen on risk aversion, the pair met renewed selling at 110.29 to 109.80 in Tokyo trading.

Look like consolidation below Friday's post-NFP 10-day high at 110.48 would continue with downside bias and stops below 109.70 are in focus.
Offers are tipped at 110.15/25 with stops above 110.50, a mixture of bids and stops is reported below 109.80-70.

U.S. will release Markit services services PMI and then ISD non-mfg PMI n at 14:00GMT, the incoming Fed Chief Jerome Powell will be sworn in as the head of the Fed.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Feb 2018 03:25GMT

USD/JPY - 108.72.. Dlr gained no respite in hectic Asian trading as despite minor consolidation after o/n selloff from 110.26 to 108.99 in New York session due to active safe-haven yen buying as a result of plunge in U.S. equities n falling U.S. Treasury yields, renewed selling at 109.29 emerged n price tumbled to 108.55 as the Nikkie quickly shed 5% shortly after Tuesday's open.

Looks like yen-buying will continue today as Monday's intra-day 6.3% plunge in the Dow triggered active risk aversion where investors purchased the safe-haven yen and swiss franc n sent dlr/yen and dlr/chf sharply lower, U.S. Treasury yields also tumbled, benchmark 10-year yields fell from intra-day 4-year high of 2.885% to as low as 2.691% near the close.

The Dow fell almost 1,600 points at one time and later closed down 4.6% to 14346. Monday's over 1,000 points selloff represent the biggest single-day point-drop ever.

Offers are tipped at 108.90/00 with stops above 109.30, a mixture of bids and stops is touted near 108.30-25, suggesting selling dlr in anticipation of a break of Jan's 4-month bottom at 108.29 later in the day is recommended.

U.S. will release trade balance, Redbook sales and JOLTS jobs opening. St. Louis Fed President Bullard (non-voter) will speak of monetary policy at 13:50GMT.