AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Feb 2018 03:30GMT

EUR/USD - 1.2387.. Euro has traded narrowly in calm Asian morning after yesterday's 'roller-coaster' ride. Price rallied fm 1.2351 (Asia) to intra-day high of 1.2434 in Europe on news of a German coalition deal is near.
However, selloff in global stocks led to usd buying and knocked price to a 10-day trough of 1.2314 in New York morning, while intra-day rally in U.S. equities prompted broad-based usd selling and sent the euro sharply higher back to 1.2405.

As yesterday's rally from 1.2314 to 1.2405 suggests recent correction from January's 3-year peak at 1.2538 has made a low, consolidation with upside bias is expected and price is likely to head towards 1.2434 in European trading, so buying the single ccy on dips is favoured.
Bids are noted at 1.2370-50 area with stops below 1.2335.
Offers are tipped at 1.2395/05 and more above with stops above 1.2435.

Euro area countries will release a slew of eco. data starting with Germany's industrial output, France's trade data and then Italy's retail sales. ECB's Nouy and Lautenschalager will be speaking at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
08 Feb 2018 02:30GMT

USD/JPY - 109.29.. The pair remains range bound despite usd's strength vs other G7 currencies on Wednesday as market remains jittery by this week's global stock market rout, leading to continued broad-based yen buying, however, firm U.S. yields should underpin the buck and dips would attract renewed buying interest.

Despite yesterday's rebound from session lows of 108.92 in Europe to 109.69 near New York close, selling emerged below Wednesday's 109.72 and later knocked price back down to 109.12 just ahead of Tokyo open today before renewed buying emerged and lifted the pair, suggesting intra-day sideways swings would continue, so strategy is to buy dips and take profit on subsequent bounce.
Bids are noted at 109.15-05 with stops below 108.90, offers are tipped at 109.65/75 with stops above there, more stops are reported above 110.00.

U.S. eco. calendar is very thin with the usual weekly jobless claims being the only data due out.
After yesterday's speeches by a number of Fed's officials, we have Philly Fed President Harker (non-voter) speaking at 13:00GMT and Minneapolis Fed's Kaskari (non-voter) at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
09 Feb 2018 03:30GMT

USD/JPY - 108.87.. Dollar remains on the back foot after yesterday's selloff from 109.79 (Europe) to as low as 108.59 due to active sage-haven buying of the yen on risk aversion following another day of plunge in U.S. equities where the Dow fell 1,032 points, or 4.15% to 23,860.46.

Many traders have global market indices n charts on the screens as stock market prices take centre stage. The Nikkie shed over 3% (circa 32296, down 3.22%) following o/n selloff in the Dow and dlr briefly hit intra-day low of 108.50 before staging a recovery on bargain hunting.

Expect range trading for now as Asian traders await European stock markets' reaction at the open, price is likely to fall if the Dax and Footsie fall at the open, so trading the pair from short side in anticipation of more yen buying is favoured.
Offers are tipped at 109.00/10 with some stops above 109.20.
Bids are noted at 108.50-40 with stops reported below 108.25, more stops are touted below 108.00.

The only eco. data due out in the U.S. is wholesale inventories n sales, so all eyes are on the Dow n S&P 500, be nimble n be quick when stock indices swing around.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
12 Feb 2018 03:10GMT

USD/JPY - 108.68.. Dlr moved in choppy fashion in fairly hectic Asian trading as financial markets are closed in Japan for National Foundation Day holiday.

Despite initial marginal gain to 108.95 in New Zealand following weekend Reuters report (see Sat. update) Japan's govt. has decided to nominate Kuroda for a rare 2nd term as governor of the central bank when his current one expires in Apr, usd's intra-day weakness quickly retreated n later retreated to 108.56 before stabilising, suggesting range trading is in store.

As Friday's rebound from New York's 5-month bottom at 108.05 due to rally in U.S. equities suggests temp. low has been made, consolidation with upside bias is envisaged, so buy the pair on dips is favoured. Bids are noted at 108.55-50 and more below with stops below 108.30.
Offers are tipped at 108.95/00 above more above with stops above 109.35.

As no eco. data is due out from the U.S. except Fed budget, the pair is expected to take its cues from intra-day moves in European stocks and later U.S. equities, if global stock markets follow Fri's rally in the Dow n move higher, dlr will head higher also in tandem on return of slight risk appetite as well as short covering.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views -EUR/USD
13 Feb 2018 03:10GMT

.. EUR/USD - 1.2288.. Euro maintains a firm undertone in Asian trading after extending marginal gain above yesterday's high at 1.2297 to 1.2307 ahead of Asian open after tripping stops above 1.2300.
However, price has eased on lack of follow-through buying.

Although yesterday's rebound from 1.2235 (New York low) to 1.2297 due to intra-day rise in the Dow has led to broad-based usd's weakness in New York afternoon, Asian traders are reluctant to push the euro higher ahead of European open, suggesting range reading below 1.2307 wud be seen.
Offers are noted at 1.2300/10 with stops touted above 1.2315.
Bids are noted at 1.2280-70 and more below with stops below 1.2230.

The only eco. data due out in the euro area countries today is France's non-farm payrolls.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
14 Feb 2018 03:10GMT

USD/JPY - 107.66.. Although dlr shrugged off upbeat Japan's GDP data which showed economy grew for 8 consecutive quarters in longest streak for 28 year n climbed to 107.90 on bargain hunting by Japanese names (importers) following Tuesday's selloff to a fresh 5-month trough of 107.41 in New York, the pair pared intra-day gain and retreated to 107.64 as the Nikkie moved back to the red despite overnight minor gains in U.S. equities where the Dow closed very slightly up by 0.16% at 24640.

Looks like consolidation with downside bias would be seen n traders are eager to take probe at 2017 bottom at 107.32 where a daily close below there would pave the way for price to head towards 106.00 later this month.
Offers are tipped at 107.75/85 and more above with some stops above 108.05.
Bids re noted at 107.55-50 with a mixture of bids and stops touted at 107.35/30.

Some traders attributed to Tuesday's selloff whoch started in Tokyo on media report Japan's FSA is mulling the lowering of the max. leverage allowed on FX trading by individuals from current 25 times margin to 10 times this spring to curb risk taking.

Later today, all eyes are on release of key U.S. CPI n retail sales data, a higher-than-expected inflation reading will bolster mkt expectation of 3-4 Fed rate hikes this year n will lead to higher U.S. yields but the Dow will fall on such action and the yen will strength on risk aversion - a bit of a bewildering analysis isn't it !

 

[AceTRaderForex]

AceTraderFx Feb 15: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
15 Feb 2018 05:00GMT

EUR/USD - 1.2456.. Euro stand tall in relatively subdued Asian trading after yesterday's wild swings n subsequent impressive rally from 1.2276 to as high as 1.2465 in volatile post-U.S. CPI trading in New York session.

Although intra-day pullback after rising marginally higher to 1.2473 due to renewed broad-based yen's strength suggests minor consolidation is in store ahead of European open, as said yesterday's rally signals euro's correction from Jan's 3-year peak at 1.2538 is over, euro bulls are determined to re-test this major res level.

Therefore, buying the single ccy on dips is the way to go and bids are noted at 1.2450-40 and more below with stops reported below 1.2400.
Offers are tipped at 1.2475 n more above with stops above 1.2500.

Eco. release from the euro area countries will start off with France's unemployment, Italy's trade balance n the same from the EU. Several ECB members n European official will be speaking today, please refer to our EI page for details.

 

[AceTRaderForex]

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

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

USD/JPY - 106.74.. Dlr maintains a firm undertone in Asian morning after intra-day gain above Monday's 106.73 high to 106.79.

Although price moved narrowly in holiday-thinned North American after session, renewed buying emerged at 106.56 in Australia and sent price to intra-day high of 106.79, suggesting as long as 106.50/56 sup holds, marginal gain is likely. Bids are noted at 106.65-60 with stops touted below 106.50.
Offers are tipped at 106.80/85 with stops above 107.00.

U.S. markets will re-open a long w/end holiday but no econpmic release is scheduled, so traders will watch U.S. yields, U.S. bond auctions and the Dow for direction.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
21 Feb 2018 03:30GMT

USD/JPY - 107.80.. Dlr stand s tall in active Asian trading. The pair took centre stage and easily climbed above Tuesday's 107.38 high to a near 1-week high of 107.85 and broad-based yen selling, triggering stops above 107.40, then 107.60.

Traders cited yesterday's gain in Treasury yields as well as fairly successful auction of short-term U.S. debts were the reasons for intra-day rise, current broad-based gains in Asian stocks (N225 up 0.6% at 22064) also boosted risk appetite, suggesting price may head a bit higher in Europe, so buying on dips is the way to go.
Bids have been raised to 107.50-55 and more below and a mixture of offers with stops is touted at 108.00/05.

Although market focus is the release of minutes of last Fed's meeting at 19:00GMT, before that, U.S. will release MBA mortgage applications, Redbook retail sales, Markit manuf. and services PMI and existing home sales.
We also have Minneapolis Fed's Kashkari and Philly Fed's Harker speaking at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Feb 2018 04:10GMT

EUR/USD - 1.2280.. Euro languishes near Asian 9-day trough at 1.2265 after tumbling from New York high of 1.2359 following release of FOMC minutes.
Price fell ahead of Asian open and hit said intra-day low after tripping stops below 1.2275/80.

Although the single currency has finally stabilised and range trading is likely to be seen in post-Asian lunch session, intra-day broad-based usd's strength (except vs the yen) suggests selling euro on recovery is still the favoured strategy, however, price is likely to hit a temp. low soon, so be nimble n be quick to exit recent shorts on next leg of decline.

Pay attention to release of key German Ifo data and more importantly, minutes of ECB monetary policy meeting during European morning trading.

On the data front, we have France's bus. climate, CPI, Germany's Ifo bus. climate n bus. conditions, Italy's industrial orders n sales plus final reading of CPI. ECB's Mersch will speaking at banking conference in Frankfurt at 09:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
23 Feb 2018 03:30GMT

EUR/USD - 1.2312.. Euro has come under selling pressure in Asian morning after staging a rally from Thursday's 9-day trough of 1.2260 in Europe.

Despite a initial knee-jerk reaction n then a brief jump to 1.2308 after release of ECB minutes, price fell back to 1.2265 in early New York trading but then started to rally due to broad-based usd's weakness n also falling U.S. yields. The pair climbed to session highs of 1.2352 in New York morning n later moved narrowly in New York afternoon.

Looks like 1st leg of correction from 1.2260 is over at 1.2352 and range trading is in store until European open, one can trade euro from both sides of the market.
Bids ate noted at 1.2305/00 with some stops below there, more stops are touted below 1.2260.
On the upside, offers are tipped at 1.2350/60 with stops above 1.2370.

Eur are countries will release a slew of eco. data starting with Germany's Q4 GDP n the EU inflation data. ECB's Coeure will participate in panel discussion with Fed's Mester in New York at 18:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
26 Feb 2018 04:20GMT

USD/JPY - 106.54.. The greenback went through a roller-coaster ride in hectic Tokyo trading. Despite extending rebound from Friday's 106.51 (New York) low to 107.28 in New Zealand, dlr came under selling pressure shortly after Tokyo open, intra-day decline accelerated on broad-based yen buying partly on falling U.S. yields despite dovish comments by BoJ Governor Kuroda.

Although intra-day break of Friday's 106.51 low suggests near term downside bias remains, as broad outlook is consolidative, steep fall is therefore unlikely.
Offers are tipped at 106.80/90 and more above.
Bids are noted at 106.45-35 with stops touted below 106.10.

U.S. will release a slew of eco. data starting from building permits, Chicago Fed National Activity index, new home sales and Dallas Fed manuf. business index. Also, St. Louis Fed's Dallas (non-voter) will speak at 13:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
27 Feb 2018 04:00GMT

EUR/USD - 1.2331.. Trading the single currency proved to be tricky in yesterday's roller-coaster session.
Despite initial dip to 1.2280, euro rallied on intra-day selloff in dlr/yen and climbed to 1.2355 in Europe and later fell to 1.2278 in New York morning after ECB Draghi's mildly dovish comments, however, short covering later lifted price back to 1.2319 at the close.

Despite initial narrow move in Australia, intra-day decline in dlr/yen sent the euro back up to 1.2343 in Asia before retreating ahead of Tokyo lunch break.
Looks like choppy sideways swings would continue in European morning as traders are keeping their powder dry ahead of testimony by Fed's Chairman Powell.
Offers are tipped at 1.2340/50 with stops above 1.2355/60.
Bids are noted at 1.2310-00 with stops below 1.2275, more stops are touted below 1.2250.

Euro area countries will release a slew of eco. data starting with France's consumer confidence, the same from Italy as well as bus. confidence, trade balance, then EU's bus. climate, eco., industrial and services sentiment and last but not least, Germany's prelim. CPI data. ECB's Board member Mersch will give keynote address at business conference in Brussels at 08:40GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
28 Feb 2018 03:30GMT

EUR/USD - 1.2219.. Euro languished just above Asian near 3-week trough of 1.2215 after intra-day marginal break of yesterday's New York low post-Fed Powell's testimony.

Despite staging a short-covering rebound after intra-day selloff from 1.2346 (Europe) to as low as 1.2221 after hawkish comments by new Fed Chairman J. Powell on his first Congressional testimony, renewed selling quickly emerged and pushed price down.
Euro traded narrowly in subdued Asian morning before falling again ahead of Tokyo lunch break.

Although euro remains on the back foot, minor range trading is likely ahead of European open, having said that, short-term specs are eager to test euro's downside with stops below Feb's 1.2206 low (mkt reported stops below 1.2200) are now in focus, so selling the single currency on recovery is still favoured.
Offers are tipped at 1.2240/50 with stops above 1.2260.
Some bids (profit taking) are noted at 1.2215-05.

The euro area countries will release a slew of eco. data during European morning starting with Germany's consumer confidence, France's consumer spending, GDP, CPI n PPI, Germany's unemployment, Italy's CPI n lastly the same from the EU.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
01 Mar 2018 03:30GMT

USD/JPY - 106.69.. The pair remained under pressure in relatively subdued trading in Asian morning due to continued yen's strength despite usd's broad-based gain.
Traders cited selling by Japanese exporters' month-end yen buying, falling U.S. yields n weakness in the Nikkie were contributing factors to dlr's decline which bean yesterday.

Having said that, usd's expected gain vs other G7 counterparts should prevent steep fall and as long as this week's low at 106.38 (Monday), further choppy sideways swings would continue and price may ratchet higher later in the day if U.S. yields rebound.
For now, bids are noted at 106.55/45 with stops reported below 106.30.
Offers are tipped at 106.75/85 with some stops above 107.00.

U.S. will release a slew of eco. data starting with the key Jan's core PCE price index (Fed's favourite inflation gauge), PCE, personal income n spending, initial jobless claims, Markit manuf. PMI, construction spending n ISM manuf. PMI.

Fed Chairman J. Powell will make his second testimony this week and will testify before the Senate Banking Committee at 15:00GMT and out-going Fed's Dudley will speak at 16:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
02 Mar 2018 04:05GMT

USD/JPY - 106.04.. Dlr remains on the back foot in Asian morning as Asian traders sold the usd vs G4 counterparts following o/n selloff in New York in reaction to Trump's announcement to impose hefty U.S. import tariffs on steel and aluminium, price fell from 106.30 to a fresh 2-week low of 105.94 ahead of Tokyo lunch break before rebounding on short covering.

Yesterday's break of last week's 106.38 low (now res) and then daily close below there suggests correction from February's fresh 15-month bottom has ended and price is en route to re-test this level, possibly in New York trading later today, then towards next chart obj. at 105.00 (there is rumour of option defence at this 'psychological level).

Therefore, selling dlr on recovery is the way to go due to yen buying on risk aversion in reaction to market jitters of a global trade war following Trump's action.
Offers are tipped at 106.20/30 n more above with stops above 106.55/60.
Some bids are noted at 105.95/90 with stops building below 105.50.

T.G.I.F. after a tumultuous week, however, U.S. will release ISM New York index and then University of Michigan consumer confidence later but market attention is global stock market reaction to Trump's decision to impose import tariffs and dollar's reaction (pun intended) on this.

 

[AceTRaderForex]

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

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

USD/JPY - 105.47.. Dlr swung broadly sideways in Asian morning as market focus is on the euro.
Despite opening flat in New Zealand on Monday, intra-day gain in the euro led to broad-based usd's weakness and the pair fell from 105.72 to 105.43 before rebounding to 105.56 due to sharp retreat in the eur/usd.

Looks like choppy trading above Friday's fresh 15-month trough above 105.25 would continue and as long as this temp. low holds, a modest corrective bounce to 105.90/00 is still likely.
Bids are noted at 105.45-35 with stops below 105.25, however, there is talk of option defence above the psychological 105.00 level.
On the upside, offers are tipped at 105.65/75 and more above with stops reported above 106.00.

U.S. will release Markit services PMI, the ISM non-mfg PMI at 14:45GMT n 15:00GMT respectively. We also have Chicago Fed's Evans (non-voter) speaking at 17:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Mar 2018 03:15GMT

EUR/USD - 1.2350.. The euro regained traction in Asian trading as euro bulls are back in control after market shrugged off initial political jitters in Italy following Sun's election which delivered a hung parliament.

Despite initial choppy sideways swings in New York morning, intra-day rally in cable lifted the single currency to 1.2349 near New York midday and today's break above this res to 1.2363 in Asia suggests re-test of yesterday's 10-day top at 1.2365 would be seen, so buying euro on dips is the way to go for resumption of upmove from last week's 7-week bottom at 1.2155 (Thursday).
Bids are noted at 1.2335-25 n more below with stops below 1.2300.
Offers are tipped at 1.2365/75 with stops reported above 1.2415.

No eco. data is due out fm the euro area countries today so funds flow will have a greater impact on intra-day price movement during European morning.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Mar 2018 03:25GMT

USD/JPY - 105.69.. Dlr has stabilised after initial selloff ahead of Tokyo open when news of resignation of Trump's top economic adviser Gary Cohn hit the wires around 22:30GMT.

The pair tumbled from 106.18 (AUS) to as low as 105.56 on broad-based active yen buying due to renewed market jitters of escalating trade tensions (as Cohn resigned due to dispute with Trump over trade tariffs), however, short covering later lifted dlr to 105.86 (yesterday's low, now res - pretty technical reaction) before retreating.

Expect range trading above 105.46 ahead of European open n pay attention to reaction by European traders on the Cohn' news.
For now, offers are tipped at 105.85/90 with stops above 106.00, bids are noted at 105.50-40 with stops below 105.25, however, there has been recent market chatter of option defence at 105.00 (this level may be a tough nut to crack this week) with stops reported below 105.00.

U.S. will release a slew of eco. data and the most important one is ADP private payrolls at 13:15GMT, then trade balance, labor costs, non-farm productivity and lastly, Fed Beige book. We also have 2 voting members of the FOMC officials speaking, first is out-going NY Fed's Dudley and then Atlanta Fed's Bostic.

 

[AceTRaderForex]

AceTraderFx Mar 07: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
07 Mar 2018 10:30GMT

GBP/USD - 1.3869... The British pound remained under pressure after retreat from yesterday's high at 1.3930 and met renewed selling at 1.3912 ahead of European open, sending the pair down to 1.3846 in European morning, due partly on cross-selling of sterling especially vs euro.

Market focus is now on EU Tusk's presentation of Brexit draft guidelines at 12:15GMT.
Investors should remain on the sidelines for the time being as this should give a clearer idea on where the negotiations stand.

Offers are now seen at 1.3880/90 and more above at 1.3910/20 with stops building up above there whilst initial bids are noted at 1.3810/20, suggesting further choppy trading with mild downside bias would be seen.