AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

EUR/USD - 1.1561.. Euro gained respite in subdued Asian trading after staging a rebound from Mon's 1-month trough of 1.1530 as renewed usd's strength n selloff in cable pressured the single currency in European morning, however, short covering later lifted the pair to 1.1570 in New York morning.

Intra-day steadiness suggests range trading above 1.1530 would be seen with mild upside bias and stops above 1.1570/75 are now in focus, however, selling interest at 1.1600/10 are likely to limit intra-day gain.
For now, bids are noted at 1.1540-30 and more below with market chatter of option defence at 1.1500.

On the data front, Germany will start off with industrial output, imports, exports and trade balance, current account, then the similar trade data from France.

 

[AceTRaderForex]

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

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

USD/JPY - 111.39.. Dlr continues to move in familiar territory in subdued Asian morning after a roller-coaster ride on Tuesday.

Despite y'day's decline from 111.43 (AUS) to 111.23 in Asia, then decline weakness to 111.00 at New York open due to broad-based usd's decline in European morning, rebound in U.S. yields n gain in global stocks boosted risk sentiment, leading to active yen selling, the pair later rallied to session highs of 111.47 in New York afternoon before easing.

Dlr's rebound from 111.00 suggests early decline fm last week's high as 112.15 has ended and range trading is in store, bis are noted at 111.30-20 and more below with stops below 111.00.
Offers are tipped at 111.45/55 with stops above there.

The only eco. U.S. data due out today is the non-market moving MBA mortgage applications but we have Richmond Fed President Barkin (voter) delivering a speech at a business conference.

 

[AceTRaderForex]

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

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

USD/JPY - 110.83.. Dollar falls in Asian trading due to renewed yen-buying as escalation of U.S./China trade tensions together with retreat in U.S. yields which occured in New York session yesterday triggered risk aversion.

Intra-day break of yesterday's 110.84 suggests re-test of prev. key daily sup at 110.59 would be seen after consolidation where a break there would encourage for further weakness towards July's bottom at 110.28, therefore, trading the greenback from short side is the way to go.
Offers have been lowered to 111.00/10 with stops above 111.20, some bids (profit taking) are touted at 110.65-60.

U.S. will release a slew of eco. data starting with Jul PPI. core PPI, weekly jobless claims and wholesale inventories. Chicago Fed President Evans (non-voter) will deliver a speech at 13:30GMT.

 

[AceTRaderForex]

AceTraderFx Aug 10: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1535.. Although the single currency swung broadly sideways in Asian and European morning on Thursday, price later tumbled in New York as dlr caught a bid in New York session, price early penetrated Mon's 1-month low to a 6-week trough of 1.1526 ahead of New York close, then 1.1517 in Australia this morning.

Yesterday's close below 1.1530 suggests re-test of June's 11-month bottom is on the cards, however, euro needs to take out reported option defence at 1.1500 in order to extend Medium Term downtrend to next downside target at 1.1448 early next week, perhaps the release of higher-than-expected U.S. inflation data will be the catalyst for such a move.
For now, offers are tipped at 1.1540/50 and more above with some stops above 1.1575.
Bids are noted at 1.1520-10 with stops touted below 1.1500.

Euro area eco. calendar is pretty light with France's industrial orders and Italy's trade balance due out during European morning.

 

[AceTRaderForex]

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

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

USD/JPY - 110.19.. Dlr ratcheted lower to 6-week low of 110.14 in hectic trading on Mon as free fall in the Turkish lira to fresh record lows vs usd at New Zealand open triggered safe-haven yen buying.

Although the pair opened around Fri's close at 110.92, renewed selloff in the Turkish lira with usd/try rallying above Friday's 7.0000 record high to 7.24 (Reuters) in thin New Zealand trading sparked off another round of yen buying, dlr fell to 110.33 b4 staging a rebound to 110.75 on short covering, however, sellers emerged at Tokyo open and price dropped to 110.14.

Dlr's intra-day break of July's bottom at 110.28 together with falling U.S. yields (benchmark 10-year has dropped to 3-week low of 2.85% from August's high at 3.016%) suggests recent decline would pressure price to 109.20 later this week esp. if recent Turkish lira rout continues unabated.
Offers are noted at 110.65/75 and more above with stop above 111.20.
Some bids (profit taking) are touted at 110.10-00 with stops below there.

On the eco. data front, so U.S. data is due out today, so all eyes are on intra-day movements of the Turkish lira n other EM currencies.

 

[AceTRaderForex]

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

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

USD/JPY - 110.79.. The pair traded narrowly but with a firm undertone in relatively subdued Asian morning after staging a strong rebound from Monday's fresh 6-week low of 110.11 (Asia) to 110.93 as recovery in the embattled Turkish lira following Turkish central bank's liquidity boost triggered broad-based cross unwinding in recent long yen positions.

Although yesterday's rebound from 110.11 suggests recent decline has made a temporary low and range trading is in store with mild upside bias for further short-covering gain, as the TRY remains extremely vulnerable to further weakness after tanking to a fresh record low of 7.2400 (currently at 6.9250), selling dlr on further rise is still favoured for resumption of decline.
Offers are tipped at 110.90/95 with some stops above 111.00, however, more selling interest is reported at 111.10/20 with stops above there.
Bids are noted at 110.60-50 and more below with stops below 110.00.

U.S. eco. calendar is pretty thin today with just some 3rd-tier data due out starting with import and export prices n then Redbook sale.

 

[AceTRaderForex]

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

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

USD/JPY - 111.38.. The pair climbed above Tuesday's New York top at 111.32 to 111.43 in early Asian trading on Wednesday as the greenback continued to stretch its muscles against other key currencies following yesterday's dollar index (DXY) reaching a fresh 13-month peak as investors continued to load up more usd positions due to ongoing U.S./Turkey political tension which may spark off further financial turmoil in other emerging markets.

Despite initial sideways move in Australia following yesterday's rally from 110.59 (Asia) to 111.32, renewed buying interest emerged at 111.14 n pushed price above 111.32 to 111.43, suggesting further gain would be seen after consolidation.
Having said that, keep an eye on the Turkish lira, as price may fall again in Europe after yesterday's sharp recovery on profit taking and such decline would trigger yen-buying on risk aversion.
For now, bids are noted a 111.15-10 with stops below 111.00.
Offers are tipped at 111.45/55 with stops above 111.60, however, more offers are touted at 111.85/90.

U.S. will release a slew of eco. data starting with Jul retail sales, industrial production, cap. utilization, mfg output, bus. inventories and NAHB housing market index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1376.. Euro jumped in hectic trading in Asia from 1.1336 to 1.1383 after China Commerce Ministry said it is sending a delegation to Washington to discuss trade issues, the news sent usd broadly lower (except vs the yen), suggesting recent downtrend has made a temp. low at Wednesday's fresh 13-month trough at 1.1301.

Actually, the euro regained traction in New York afternoon on news that Qatar said it will invest $15 bln in Turkey, usd fell broadly on the new and intra-day euro-positive news which lifted the CNY suggests long-awaited correction has possibly occured, so buying on dips is favoured but strong gain is unlikely as US/Turkey tension persists.
Bids are noted at 1.1355-50 and more below with stops below 1.1330.
Offers are tipped at 1.1380/85 with stops above 1.1400.

On the data front, Germany will release wholesale prices index and then EU's trade balance.

 

[AceTRaderForex]

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

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

USD/JPY - 1110.87.. The pair moved in directionless Thursday's session and price swung around the 111.00 in New York afternoon session, suggesting further sideways swings are in store today.

Having said that, the retreat on the usd index (DXY) from its 13-1/2 month peak of 96.98 (Wednesday) suggests consolidation with downside bias remains, therefore, the decline from 111.43 (Wednesday) is likely to resume next week and below 110.43 would encourage for re-test of 110.11. Therefore, selling the pair on recovery is recommended.
Offers are tipped at 111.10/20 and more above with stops above 111.45.
Some bids are noted at 110.50-45 with stops below 110.40.

T.G.I.F., U.S. will release July leading indicators n University of Michigan Aug consumer confidence at 14:00GMT later today.

 

[AceTRaderForex]

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

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

USD/JPY - 110.50.. Dollar trades narrowly in subdued Asian morning following Friday's intra-day decline from 111.05 (Asia) to 110.32 in New York session due to broad-based usd's retreat as market optimism ahead of China/U.S. 2-day trade talks starting Wednesday as well as relatively calmer moves in the Turkish lira triggered profit taking on the greenback.

Having said that, Friday's weakness to 110.32 suggests re-test of last Monday's 6-week trough at 110.11 would be seen after initial consolidation n stops below 'psychological' sup at 110.00 are now in focus.
For now, offers are tipped at 110.60/70 and more above with stops above 111.15.

On the eco. data front, no U.S. data is due out today and the only thing worth noting is a scheduled speech by Atlanta Fed President Bostic (2018 FOMC voter), he will talk on the economic outlook at 16:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 110.33.. Dlr pared initial losses in Asian morning after falling from Tuesday's New York high of 110.55 to 110.03 at Asian open today.

The pair came under selling pressure in New York afternoon due to safe-haven yen buying on Reuters news report that an attorney for Michael Cohen, Trump's former personal lawyer who pleaded guilty in New York on Tuesday to campaign finance violations and other charges, said Trump directed Cohen to commit a crime.
However, renewed buying interest above 110.00 emerged and lifted the greenback, suggesting range trading would be seen ahead of European open.
Offers are tipped at 110.45/55 with stops above there, bids are noted at 110.05-00 with stops below there, more stops are reported below 109.75.

On the data front, U.S. will release MBA mortgage applications, existing home sales.
Key event to watch for is the start of a 2-day U.S./China trade talks in Washington and then last but not least, release of FOMC minutes at 18:00GMT, however, market is keenly awaiting Fed Chairman J. Powell's speech at Jackson Hole on Friday.

 

[AceTRaderForex]

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

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

USD/JPY - 110.79.. The pair rallies in Asian morning as dollar suddenly caught a bid in hectic trading in early Thursday's session.

Despite relatively muted reaction in New York afternoon after release of mildly hawkish FOMC minutes, traders cited decline in the Aussie dollar (see previous updates) triggered broad-based USD buying and the greenback climbed against its G7 peers on short covering.

Intra-day firm break above yesterday's 110.62 (New York) high suggests recent downtrend has made a low at Tuesday's 7-week trough at 109.78 and consolidation with upside bias remains for further headway towards 111.12 res.
Bids have been raised to 110.60-50 and more below with stops below 110.20.
Offers are tipped at 110.90/00 with stops above 111.15.

On the data front, U.S. will release a slew of data starting with building permits, initial jobless claims, monthly home price, Markit mfg and services PMIs, new home sales n KC Fed mfg index.

 

[AceTRaderForex]

AceTraderFx Aug 24: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 111.41.. Dlr remains on the front foot in relatively subdued Asian trading, price met renewed buying at 111.26 in Aust. and easily penetrated o/n New York high at 111.31 to 111.46 in Asian morning.

Intra-day firmness suggests the pair still has leg to go higher as the greenback is likely to remain bid ahead of Fed Chairman J. Powell's opening speech at the annual Federal Reserve conference in Jackson Hole, Wyoming. Market awaits in eagerness to hear from the horse's mouth if the Fed is sticking to its recent forecast (Dot Plot) of raising rates 2 more times this year with next one at September's FOMC meeting.
Bids have been raised to 11.25-20 n more below with stops below 110.90.
On the upside, some offers are tipped at 111.70/80 with stop above 111.90, more stops are touted above August's 112.15 high.

No U.S. economic calendar is due out on the last trading day of this tumultuous week but who needs them when J. Powell is speaking about the U.S. economy at 14:00GMT !

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
27 Aug 2018 03:30GMT

EUR/USD - 1.1629.. Despite meeting renewed buying at 1.1611 (New Zealand) and climbing briefly above Friday's 1.1640 (New York) high to a 3-week peak of 1.1654 just ahead of Asian open, broad-based liquidation of long euro positions knocked price back down to 1.1625, suggesting recent strong upmove has made a temp. top there and range trading is expected until European open as market awaits release of key German Ifo business confidence index.

On the bigger picture, although euro continued its recent winning streak in Asia on Monday, as upward momentum of current rise is losing momentum, daily res at 1.1700 should cap upside today and risk has increased for a much-needed correction to occur soon.
Order book is pretty thin on Monday with some offers tipped at 1.1650/60 and some bids are touted at 1.1615-05 with stops reported below 1.1590.

 

[AceTRaderForex]

AceTraderFx Aug 28: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 111.30.. Despite swinging broadly sideways in directionless European and New York sessions on Monday as market focus was on other G7 counterparts and the Turkish lira, the pair climbed just ahead of Tokyo open on Tuesday as yesterday's rally in global stocks on easing of trade tensions as well as rising U.S. yields boosted risk appetite, sending the Japanese yen lower across the board.

Intra-day break of Mon's European high at 111.19 due to renewed broad-based yen selling suggests pullback from last Friday's 2-1/2 week high at 111.49 has ended and upside bias remains for re-test of said res where a break there would encourage for gain towards next chart obj. at 111.88.
Therefore, buying dlr on dips is recommended. Bids have been raised to 111.15-05 with stops below 110.90.
Offers are tipped at 111.35/45 with stops above 111.50.

On the data front, the U.S. will release a slew of eco. data starting with wholesale inventories, goods trade balance, Redbook sales, CaeShiller home price, after release of these 2nd-tier data, we have Aug consumer confidence and then Richmond Fed August mfg index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1687.. Euro remains on the back foot in relatively subdued Asian morning after retreating from Tuesday's fresh 4-week high of 1.1734 to 1.1691 in New York as rising U.S. yields n upbeat U.S. consumer confidence triggered broad-based short covering in the greenback.

The single currency edged lower to 1.1684 in early Asian trading, suggesting recent strong upmove has made a temp. top consolidation with downside bias is in store, so selling euro on recovery is therefore favoured today for a change.
Offers are tipped at 1.1690/00 and more above with stops above 1.1635 and more stops have been reported above daily res at 1.1750.
Some bids are noted at 1.1680-70 with stops touted below 1.1660.

On the eco. data front, Germany will release Gfk consumer confidence, then France's consumer spending n GDP.

 

[AceTRaderForex]

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

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

USD/JPY - 111.61.. Dlr pares yesterday's intra-day rally to a near 4-week high of 111.83 in Asia and retreated on cross-selling vs Eur, Gbp and Aud, however, renewed buying at 111.52 lifted price ahead of Tokyo open.

Yesterday's rally above last week's high at 1111.49 (now sup) due to upbeat U.S. data together with rising U.S. yields where benchmark 10-year hit a near 2-week high of 2.898% bodes well for gain towards August's peak at 112.15 after consolidation, therefore, trading the greenback is the way to go (our intra-day, daily as well as weekly strategies are all holding long USD positions !).
Bids are noted at 111.50-40 with stops below there, some offers are tipped at 111.80/90 with stops above 112.15.

U.S. will release a slew of eco. data starting with weekly jobless claims, Jul personal spending n income and important July PCE and core PCE, all due out at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
31 Aug 2018 03:30GMT

EUR/USD - 1.1671.. The euro moves narrowly in subdued Asian morning on Friday after yesterday's volatile swings.
Despite erratic rise to 1.1718 in European morning, euro ratcheted lower on renewed weakness in the Turkish lira, price fell on selling in eur/yen, eur/gbp and eur/chf cross trading to session lows of 1.1642 at New York midday before staging a recovery to 1.1678 on short covering.

Despite intra-day sideways move, as decline from Tuesday's 4-week peak at 1.1734 to 1.1642 signals recent strong upmove has made a temp. top there, choppy consolidation with downside bias is in store esp. if the Try weakens further during European morning, so trading the single currency from short side in anticipation of another leg of decline is favoured.
Offers are tipped at 1.1675/80 and more above with stops above 1.1700, more stops are reported above 1.1735.
Bids are noted at 1.1650-40 with stops below 1.1640.

The euro are countries will release a slew of eco. data, please refer to our EI section for details.

 

[AceTRaderForex]

AceTraderFx Sept 03: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1598.. The single currency remained on the back foot in subdued Asian trading after falling sharply on Friday from 1.1690 (Europe) to 1.1585 in New York morning due to broad-based euro selling vs usd, yen, gbp and chf on renewed TRY weakness and lingering global trade tensions.

Friday's break of previous 1.1642 (Thursday's low) confirms decline from Tuesday's 4-week peak at 1.1734 to recent strong upmove has once again resumed and price is en route towards daily chart obj. at 1.1530 after consolidation, therefore, trading euro from short side is recommended.
However, reckon 1.1530 would hold today due to near term oversold condition and with markets in U.S. and Canada off for Labor Day holiday, trading in North America time zone later today will be quiet but beware on intra-day wild swings due to thin market conditions.
Offers are tipped at 1.1620/30 with stops above 1.1645.
Bids are noted at 1.1590-85 with stops below 1.1555.

Today is PMI day in the euro area countries, Italy will kick off with mfg PMI, then followed by France, Germany n the EU. ECB Governing Board member Mersch will speak at 2 diff. venues in Paris, first at 06:30GMT n then a participation on a panel "The strategy for Europe ?" at Reinventing Breton Woods conference "Dialogue of Continents" at 09:20GMT

 

[AceTRaderForex]

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

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

USD/JPY - 111.09.. Dlr continues to orbit 111.00 handle in choppy Tokyo trading in early trading on Tuesday after going through a mini roller-coaster rise yesterday.

Despite initial marginal gain to 111.19 (New Zealand) on Monday, price fell to 110.85 in Asia on renewed cross-buying yen, however, renewed usd's broad-based strength in European morning later lifted price to 111.17 before moving narrowly in holiday-thinned N. American session as markets in both U.S. and Canada were closed for Labor Day holiday.

Looks like further sideways swings above Friday's 1-week trough at 110.69 would continue, however, weakness in EM currencies (keep an eye on the Turkish lira in Europe) plus lingering global trade tensions should trigger another round of yen buying later in the day, so selling the pair on recovery is favoured.
Offers are tipped at 111.15/20 with stops above 111.35/40.
Bids are noted at 110.90-85 and more below with stops below 110.65.

On the data front, U.S. will release Markeit mfg PMI, construction spending, ISM mfg PMI and Chicago Fed President Evans (non-voter) will speak at 14:30GMT.