AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
08 Mar 2018 02:55GMT

EUR/USD - 1.2402.. Euro orbits 1.2400 level in relatively subdued Asian trading after retreating from Wed's 2-1/2 week high of 1.2444 (Europe) to session low of 1.2385 in New York morning before rebounding to 1.2415 near the close, suggesting range trading is the order of the day in Asia as traders are keeping their powder dry ahead of ECB's rate decision announcement n more importantly, the post-ECB press conference by Draghi.

Although the ECB is widely expected to stand pat on its rate policy, traders are eager to take cue from Draghi's press conference on any sign of tapering of its bond purchase programme, therefore, we have to wait for many hours for his comments.
Until then, offers are tipped at 1.2430/40 with some stops above 1.2450, more stops are touted above 1.2500.
Bids are noted at 1.2395/85 with stops below 1.2380.

Eco. calendar is very light today with Germany's industrial orders being the only data due out at 07:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
09 Mar 2018 03:00GMT

USD/JPY - 106.70.. In stark contrast to yesterday's narrow move in Asian morning, the pair jumped ahead of Tokyo open on media report North Korea will make commitment to stop nuclear tests and its leader Kim will meet with Trump and was then accepted.
AS a result, dlr rallied easily above this week's 106.46 high to as high as 106.94 on broad-based yen selling due to return of 'risk appetite'.

Today's rally above 106.46 (now sup) confirms an upside break of the 3-day long broad sideways swings have ended and further gain is likely to be seen, so trading the buck from long side is favoured.
Bids have been raised to 106.65-55 and more below with some stops below 106.40.
Offers are tipped at 107.00/20 with stops touted above 107.20.

As time of writing, BoJ has stood pat on its rate and monetary policy decision as widely expected, so focus is Gov. Kuroda's press conference at 06:30GMT.
After that, we have the blockbuster month U.S. jobs data, pay attention to NFP as well as average hourly way growth, if both readings beat street forecasts, then dlr will rally further, if they miss the estimate, then look for a decent dip to enter long position for another rise next week. T.G.I.F.

 

[AceTRaderForex]

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

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

EUR/USD - 1.2321.. The single currency inched higher in relatively subdued Asian trading after staging a rebound from Friday's post-NFP low at 1.2273.

Although the Japanese yen has made centre stage in Asia on Mon, euro's said rebound from 1.2273 suggests early decline from Thursday's 2-1/2 week high at 1.2446 has made a temp. low n range trading is in store in European morning.
Bids are noted at 1.2300-80 area n more below with stops below 1.2270 whilst offers are tipped at 1.2330/40 n more above with stops above 1.2370.

Although there is no eco. data from the euro area countries on Mon, we have Eurogroup meeting today where ECB President Draghi and ECB executive board member Coeure will particiapte in the meeting in Brussels.

 

[AceTRaderForex]

AceTraderFx Mar 13: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
13 Mar 2018 03:00GMT

USD/JPY - 106.40.. Dlr pares intra-day loss n inches higher from Asian low at 106.25. Despite staging a short-covering rebound from o/n New York low at 106.32 to 106.47 in Australia, short-term specs sold the pair on news that Japan FinMin Aso is considering to skip G20 meeting n knocked price 106.25.
However, lack of follow-through selling helped price to edge higher at Tokyo open.

Although intra-day recovery suggests range trading is in store ahead of European open, as market perceives present suspected gov't cronyism scandal is yen supportive, selling dlr on intra-day recovery is still the favoured strategy for a stronger retracement of upmove from March's low at 105.25.
Offers are tipped at 106.50/60 with some stops above 106.75.
Bids are noted at 106.25/15 and more below with stops below 106.00.

After release of last Friday's U.S. robust payrolls but tepid wage growth which subsequently had market turning short on the greenback, pay attention to U.S. core CPI data, market consensus for Feb M/M inflation to be 0.2% vs previous reading of 0.3%, if actual figure comes in at 0.2% or higher, then the dlr will rise broadly, if it is below street forecast, then one can expect more usd selling.

 

[AceTRaderForex]

AceTraderFx Mar 14: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
14 Mar 2018 03:20GMT

EUR/USD - 1.2406.. The single currency stands tall in Asian trading following yesterday's rally to 1.2407 triggered by broad-based usd's weakness following the firing of U.S. Sec. of State Tillerson by Trump.

Despite a minor pullback to 1.2384/85 ahead of New York close, buyer emerged and lifted price n euro climbed further to 1.2412 ahead of Tokyo lunch break, suggesting a re-test of last Thurday's 2-1/2 week high at 1.2446 is on the cards, therefore, trading euro from the long side is the way to go.
Bids are noted at 1.2390-80 and more below with some stops below 1.2340.
Offers are tipped at 1.2435/45 with stops reported above 1.2450.

Euro area countries will release a slew of eco. data starting with Germany's final CPI, Italy's retail sales and EU's industrial production and employment.

Today we have many ECB members speaking at "The ECB and Its Watchers XIX" conference organised by the Institute for Monetary and Financial Stability in Frankfurt, Germany plus many other speakers at other venues (refer to our EI page for details), so keep an eye out for many intermittent comments they make during the day as the euro briefly jumped from 1.2332 to 1.2351 at European midday yesterday when ECB's Lane said 'there is no concern about current euro level'.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
15 Mar 2018 03:45GMT

EUR/USD - 1.2377.. Euro swung broadly sideways in directionless Wednesday's session. Despite extending this week's gain to 1.2413 at European open, price retreated to 1.2362 after mildly dovish comments by ECB President Draghi.
Despite a brief bounce to 1.2396 after downbeat U.S. retail sales, sellers emerged and knocked euro to session lows of 1.2347 in New York morning due to broad-based usd's strength, however, price later pared (pun intended) intra-day losses as usd's pared its short-lived gain on falling U.S. yields n U.S. stocks.

Expect consolidation with upside bias until European open m if dlr/yen continues to weaken in Europe which is likely to lead to general usd's weakness, then the euro continue near term upmove which began last Friday at 1.2273.
Bids are noted at 1.2360-50 with some stops below 1.2340.
Offers are tipped at 1.2395/00 with stops above 1.2415, more stops are reported above last week's high at 1.2446.

Eco. calendar is very light with France's CPI being the only data due out n we have ECB's Lautenschaeger speaking at 15:45GMT.

 

[AceTRaderForex]

AceTraderFx Mar 16: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
16 Mar 2018 02:20GMT

USD/JPY - 106.01.. Despite initial calm in Australian morning following intra-day erratic rise from yesterday's 1-wek low of 105.79 to 106.42 in NY afternoon due to renewed usd's broad-based strength, the pair fell due to active safe-haven buying of yen when CNBC and BLP TV reported Washington Post story that Trump has decided to fire another one of senior White House officials, McMaster, the nation security adviser, dlr fell from 106.33 to 105.94 before stabilising.

As dlr remains on the back foot on McMaster's news, suggesting re-test of 105.79 would be seen after consolidation n European traders may well join the yen bandwagon and buy the Japanese ccrrency when they arrive to their trading desks (watch out for early European bird's action ahead of the open).
Offers have been lowered to 106.10/20 n more above with stops touted above 106.50.
Some bids are noted at 105.85-80 with stops below there, more stops are reported below 105.25 and more below the psychological 105.00 level.

It is T.G.I.F. for Asian players and for those who are trading the New York market later today, U.S. will release housing starts, building permits, industrial prod., cap. utilization, JOLTS job openings n University of Michigan consumer confidence index, if these data are generally better than market consensus, then the greenback may rebound on weekend short covering.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
19 Mar 2018 03:20GMT

USD/JPY - 105.83.. Dollar remains on the defensive in Asian trading on Mon due to renewed active cross-buying of yen.

Despite staging a rally from Friday's 9-day low of 105.60 to 106.23 in New York morning due to broad-based usd's strength and rise in U.S. yields, the pair closed around 106.00 and opened slightly lower in New Zealand on Monday, then briefly dipped to 105.82 following Sunday's poll results which showed PM Abe's support falling sharply (a A Nippon TV poll found Abe's support dropped 14 percentage points from last month to 30 percent, the lowest for that poll in Abe's 5 years in office), price briefly rebounded to 106.15 at Tokyo open but only to weaken to 106.75.

Looks like choppy sideways swings above 105.60 would continue until European open n anticipated usd's strength vs other majors would prevent steep fall.
For now, offers are tipped at 106.15/25 with stops above there, bids are noted at 105.75-65 with stops below 105.50, however, there is market chatter of good buying interest above March's 105.25 trough.

No U.S. eco. data is due today n making is paying to Fed's 2-day rate meeting starting tomorrow Atlanta Fed's Bostic will participate in an armchair chat, "Community Reinvestment Act" n is not expected to say anything on the U.S. economy.

 

[AceTRaderForex]

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

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

USD/JPY - 106.18.. Dlr swung wildly in directionless trading on Mon, however, price ratcheted higher in today on renewed cross-selling in yen in relatively subdued Asian morning.

Despite retreating from session highs of 106.31 to 105.79 in NY morning due to broad-based usd's weakness, renewed yen selling lifted price to 106.15 near the close n the pair climbed from 105.93 to 106.30 in Asia on continued cross-selling in yen, suggesting consolidation with upside bias remains and above 106.31 res would encourage for further headway towards 106.75.
Bids are noted at 106.00-105.90 n more below with stops reported below 105.60.
Offers are tipped at 106.30/40 with stops above 106.75.

U.S. eco. calendar is very light as Fed begins its 2-day FOMC meeting today n the only data due out is Redbook retail sales at 12:30GMT, so intra-day move in U.S. yields n later performance of the Dow may have a stronger influence on the pair.

 

[AceTRaderForex]

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

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

EUR/USD - 1.2256.. In stark contrast to Monday's impressive rally at New York open at 1.2285 to 1.2359 on report of ECB rate-hike discussion, the single curremcy came under broad-based selling pressure in Europe and fell from 1.2355 to 1.2263 at New York open.
Despite staging a minor bounce to 1.2286, euro continued intra-day decline n fell to session lows of 1.2240 ahead of NY close before staging a recovery in Asian morning.

Although euro's intra-day minor bounce in Asia suggests consolidation above Tuesday's fresh 2-week trough at 1.2240 would be seen until European open, yesterday's usd's broad-based gain in expectation of a Fed rate increase n hawkish Fed rate forecasts by FOMC members should pressure euro ahead of Fed rate decision and release of Fed 'dot plot' at 18:00GMT, so selling in recovery is still recommended but beware of a nasty short squeeze if Fed 'dot plot' show 3 rate hikes instead of 4 in 2018.
Offers are tipped at 1.2270/85 with stops above 1.2300.
Bids are noted at 1.2240-30 with stops below 1.2200.

Economic calendar in the euro area countries is empty today, so it will be calm b4 the storm in European trading until New York afternoon.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Mar 2018 02:30GMT

USD/JPY - 105.70.. Dlr remained on the back foot in early Asian trading n fell below post-FOMC low in New York at 105.89 to a 2-week trough of 105.58 shortly after Tokyo open, however, lack of follow-through selling quickly lifted the pair.

Despite knee-jerk reaction after Fed rate hike announcement and release of 'dot plot' which showed a median forecast of Fed policymakers is for a total of three rate hikes in 2018, the pair climbed to session highs of 106.64 as Fed chairman began his first post-FOMC press conference but dlr quickly tumbled on Powell's dovish remarks and later hit intra-day low of 105.89.

Intra-day weakness suggests market is now keen to re-test March's fresh 15-month trough at 105.25 after a failed upside attempt yesterday at 106.64 and stops below 105.00 are now in focus.
Offers are tipped at 105.85/95 and more above with stops above 106.10.
Bids are noted at 105.50-45 with stops below 105.20.

U.S. will release weekly jobless claims, monthly home price, leading indicator, Markit mfg PMI and KC Fed mfg index.

 

[AceTRaderForex]

AceTraderFx Mar 23: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
23 Mar 2018 02:30GMT

USD/JPY - 104.92.. The greenback languishes near intra-day 16-month bottom of 104.65 as escalating global trade tensions and broad-based selloff in Asian stocks following o/n near 3% drop in the Dow have spoofed investors n triggered broad-based yen buying on risk aversion.

Despite staging a rebound from 105.26 at New York open to 105.81 in early New York afternoon, sharp selloff in U.S. stocks after Trump had taken trade action against China led to active broad-based yen buying and knocked price back down to 105.66/67 at the close.
Seller emerged in Australia n gave dlr/yen another bashing, the pair easily penetrated previous Mar's 105.25 trough and tumbled to 104.65 after tripping some stops below 105.00 in fairly thin Australia market.

Although dlr has staged a modest recovery to 105.08 at Tokyo open on bargaining hunting by Japanese importers, the lack of a follow-through dlr buying suggests daily downside bias remains for market to continue to test dlr's downside later today, so selling the buck on recovery is the way to go n a daily as well as weekly close below 105.00 would bode ill for the buck in next week's trading.
Offers are noted at 105.25/30 and more above with stops reported above 105.85.
Bids are noted at 104.75/65 with stops below 104.60.

U.S. will release durable goods order n new home sales later today. We also have a no. of Fed officials who will be delivering speeches (pls refer to our EI page for details). Keep an eye on U.S. yields as well as global stock market performance and further weakness in both markets will pressure the buck.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
26 Mar 2018 02:50GMT

USD/JPY - 104.94.. Dlr pares initial losses to a fresh 16-month trough of 105.57 in NZ n rebounded to 105.05 in Asian morning as bargain hunting (by Japanese importers) at Tokyo open lifted the pair, suggesting choppy range trading ab0ve said intra-day low would be seen.

Having said that, Friday's daily and weekly close below the 105.00 level bodes ill for the greenback from a technical standpoint and price is en route to 104.00/10 in this holiday-thinned Easter week (but Japanese markets are open this Friday) esp yen-buying for repatriation of yen by Japanese international corps should limit dlr's upside.
Bids are noted at 104.70-60 with stops below 104.50.
Offers are tipped at 105.15/25 with some stops above 105.30.

U.S. eco. calendar is pretty thin today with Dallas Fed mfg index being the only data due out, however, we have 2 Fed officials speaking later today, starting with out-going New York Fed Dudley (voter) at 16:30GMT n then Cleveland Fed Mester (voter) at 20:30GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 105.63.. Dlr stands tall in Asian morning after Monday's impressive rally due to broad-based yen selling as strong rebound in U.S. stocks (Dow closed up 669 points or 2.84%) and rising U.S. yields triggered on easing of global trade tensions especially between U.S. and China boosted risk appetite.

The greenback climbed from Mon's fresh 16-month trough of 104.57 (New Zealand) to 105.25 in New York morning before retreating to 104.92 due to renewed usd's weakness but rally in U.S. stocks quickly lifted price and the pair later climbed to 105.48 at the close, then 105.75 in Asia as gain in Asian stocks (N225 currently up 1.66% at 21110) prompted more yen selling, suggesting consolidation with upside bias remains for further gain after minor consolidation.
Bids are noted at 105.40-25 with stops below 105.00, some offers are tipped at 105.75/85 with stops above 106.10.

U.S. will later release Redbook sales, CaeShiller home price, consumer confidence n Richmond Fed mfg. Then last but not least, at 15:00GMT, Atlanta Fed President Bostic (voter) will participate in a conversation before a financial forum in Atlanta.

 

[AceTRaderForex]

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

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

EUR/USD - 1.2420.. Euro inched higher in subdued Asian trading on Wed as intra-day gain in cable has lifted the single currency.

Despite hitting a 5-week peak of 1.2477 in early European trading, selloff in cable (on news of mega M&A deal of a US$ 13 bln acquisition of Swiss drug maker Novartis by U.K. healthcare giant GlaxoSmithKline dragged the euro sharply lower, intra-day decline accelerated ahead of New York open and hit session lows of 1.2373 before rebounding in tandem with cable to 1.2415 near New York midday.

As yesterday's selloff from 1.2477 suggests euro is likely to trade below the psychological 1.2500 mark ahead of Fri's Easter break, range trading with downside bias is envisaged.
Offer are tipped at 1.2420/40 with stops above 1.2440.
Bids are noted at 1.2380/70 with stops below 1.2360.

Euro area countries will release a slew of eco. data starting with Germany's Gfk consumer confidence, France's consumer confidence, Italy's industrial orders and industrial sales.

 

[AceTRaderForex]

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

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

USD/JPY - 106.62.. Despite yesterday's impressive rally to a 2-week high of 107.01 in later New York trade due to continued usd's strength in New York session and rebound in U.S. Treasury yields (benchmark 10-year recovered from a 6-week low at 2.7444%), dlr fell in Asian morning on broad-based yen buying, traders cited usd selling by Japanese exporters after this week's strong gain, suggesting range trading is in store until European open.

Dlr's rally from Monday's fresh 16-month trough at 104.57 (Monday) strongly suggests recent downtrend has made a temp. low and a daily close above March's 107.29 high would add credence to this bullish view, then further gain towards next daily target at 107.90 wuoulsd be seen next week, so buying on dips (our intra-day and daily strategies are holing long and weekly strategy is buying on dips) is the way to go.
Bids are noted at 106.50-35 area with stops below 106.00.
Offers are tipped at 106.90/00 with stops above 107.30.

Today is the last trading day in may European centres and U.S. markets ahead of Friday's Easter long w/end holiday, U.S. will release a slew of eco. data including some key ones also including Feb core PCE (Fed's favourite inflation gauge), personal income, initial jobless claims, Chicago PMI n University of Michigan consumer confidence.
Also, we have Philly Fed President's Harker (non-voter) speaking at 17:00GMT.

 

[AceTRaderForex]

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

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

USD?JPY - 105.7.. Dlr gains respite in subdued Asian trading after falling sharply in New York session from 106.44 to 105.67 as selloff in U.S. stocks (Dow down 1.90% to 23644) and falling U.S. yields triggered broad-based safe-haven buying of yen.

Despite initial weakness to 105.70 at Tokyo open, buying emerged and lifted dlr to 105.93 as the Nikkie only shed a modest 0.90% decline (currently at 21.193), suggesting range trading above 105.67 is likely before decline resumes.
Offers are tipped at 105.90/00 with stops above 106.15.
Bids are noted at 105.65-55 with stops below 105.30.

U.S. will release Redbook sales and ISM New York index n Minneapolis Fed President Kashkari (non-voter) will speak at 14:30GMT and Fed Governor Brainard will speak at 20:30GMT.
professionals and real-time updates

 

[AceTRaderForex]

AceTraderFx Apr 04: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
04 Apr 2018 02:20GMT

EUR/USD - 1.2277.. The single trades narrowly after hitting a near 2-week trough of 1.2254 in New York on Tuesday.
Despite intra-day short-covering rebound in European morning to 1.2335, price quickly retreated to 1.2286 and then rebounded to 1.2315 in tandem with the pound but only to resume decline to 1.2254 in New York morning.

Yesterday's break of previous sup at 1.2283/84 signals recent decline has resumed and weakness to next daily objective at 1.2240 is envisaged after consolidation, having said that, as price is heading towards the lower end of recent 1.2155-1.2477 trading range, steep fall is not envisaged n reckon price would hold above 1.2206 and bring correction later today.
Offers are tipped at 1.2280/90 with stops above 1.2315.
Bids are noted at 1.2255-40 with stops below there.

The euro area countries will release a slew of eco. data starting with Italy's unemployment, EU CPI n FICP inflation data.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Apr 2018 02:20GMT

USD/JPY - 107.11.. Dlr remains on the back foot in Asian trading after intra-day fall from 107.42 to 107.00 as early comments made by Trump in Australian morning to impose extra tariffs on China (see early updates for details) spooked investors, prompting a wave of broad-based yen buying on risk aversion.

Despite yesterday's rally in New York morning to a 1-month peak of 107.49 following rising U.S. yields n rebound in the Dow, intra-day weakness on renewed U.S./China trade tension suggests choppy range trading below 107.49 may continue until release of key U.S. jobs data. As the Nikkie is currently down (N225 circa 21585, down 60 points) and weakness in the Dow n S&P 500 futures (both down approx. 1.5%), market may test dlr's sup before prospect of further gain.
Offers are tipped at 107.30/40 with stops above 107.50, stops stops are touted above 108.00.
Bids are noted at 107.00-106.90.

Pay attention to release of U.S. payrolls n monthly earnings at 12:30GMT.
Also, Fed chairman J. Powell will deliver a speech on economic outlook in Chicago at 17:30GMT, then followed later at 20:00GMT by S. Francisco Fed President Williams.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
09 Apr 2018 03:00GMT

USD/JPY - 106.92.. Dlr moves narrowly in subdued Asian trading on Monday following Friday's decline from 107.46 (Europe) to 106.78 near New York close as downbeat U.S. payrolls n selloff in U.S. stocks (the Dow closed down 2.3% at 23932) together with falling U.S. yields led to broad-based usd's weakness.

Although intra-day sideways move suggests range trading above said Friday's 106.78 low would continue, anticipated renewed usd's softness suggests selling the greenback on recovery is still favoured.
Offers are tipped at 107.05/15 n more above with stops above 107.50.
Initial bids are noted at 106.80-70 with stops below 106.65.

After Friday's release of key U.S. jobs data, there is no eco. data due out today, so keep an eye on intra-day move in U.S. yields as well as performance of U.S. stocks later in the day.