AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 113.19.. The pair regained traction in Friday's trading n ratcheted higher from 112.56 (AUS) to 113.10 in European morning, then to session highs of 113.31 in post-NFP New York after robust U.S. jobs data.

Friday's gain to 113.31 suggests re-test of last week's 113.39 (Wednesday) would be seen after consolidation due to renewed usd's broad-based strength, break there would encourage for gain to 113.52, then 113.75/80. Therefore, buying the greenback on dips is recommended.
Bids are noted at 113.10-00 n more below with stops below 112.80-75.
Offers are tipped at 113.30/40 with stops reported above there.

The N. American market has pushed their clock backward by an hour on Sun, so European traders can enjoy a longer lunch break. Today is PMI day, U.S. will release Markit services PMI and then ISN non-mfg PMI.

 

[AceTRaderForex]

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

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

USD/JPY - 113.29.. The pair trades relatively narrowly in subdued Asian morning after yesterday's initial gain to 113.34 in Europe before retreating briefly to 113.08 in New York morning due to cross-unwinding in yen and usd's weakness.

Although price has inched higher back to 113.32 in Asia as minor gains in U.S. stocks and intra-day 1% rise in the Nikkie has boosted risk sentiment, offers near last week's 113.39 high are likely to present strong buying ahead of U.S. midterm election today, so unless 113.39 res is penetrated, range trading is the order of the way and below 113.08 would yield stronger retracement to 112.75/80 later.
Offers are tipped at 113.30/40 with stops above there whilst bids are noted at 113.10/00 with stops below there.

On the eco. data, U.S. will release 3nd-teir Redbook sales and JOLTS job openings. So all eyes are on the latest U.S. midterm election results but they will only start coming in tom in Asian time.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Nov 2018 07:30GMT

USD/JPY - 113.13... The greenback went through a roller-coaster session in Asia. Despite initial brief but sharp drop to 112.97 at Asian open on initial results of U.S. midterms before swiftly rallying to session highs at 113.82 in Asian morning.
However, dlr met renewed selling there n retreated sharply to 113.00 at European open on usd's broad-based weakness due to a split in Congress as the Democrats have won control of House of Representatives whilst the Republicans expectedly kept their majority in the Senate.

Looking past the elections, the Fed begins its 2-day FOMC meeting today.
Offers are now seen at 113.30/40 n more above at 113.60/70 with stops building up above there whilst initial bids are noted at 112.60/70, suggesting choppy trading with downside bias is envisaged.

 

[AceTRaderForex]

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

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

USD/JPY - 113.60.. Despite yesterday's initial wild swings in Asian morning, then intra-day selloff from a 1-month high of 113.82 to 112.95 in Europe due to usd's broad-based weakness on market concern of a political gridlock in Washington, the greenback later regained traction in New York session as U.S. stocks and treasury rose, the pair climbed back to 113.60 near the close and then marginally higher to 113.69 in Asian morning.

Intra-day firmness in Asia suggests pullback from said yesterday's 113.82 high has ended n recent erratic upmove is likely to head higher after consolidation, reckon 114.09 would cap upside and yield another later today. So whilst buying on dips for intra-day trade is favoured, profit should be taken on next leg of upmove as usd's strength may be temporary and market focus is on FOMC statement at 19:00GMT even though no rate hike is expected.
Bids are noted at 113.50-40 with stops below 113.20.
Offers are tipped at 113.80/90 with stops abv 114.10.

The only eco. data due out before FOMC announcement is weekly initial jobless claims.

 

[AceTRaderForex]

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

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

USD/JPY - 113.89.. Despite yesterday's rally to a 1-month high of 114.09 in post-FOMC New York after hawkish Fed's guidance in the accompanied FOMC statement, the greenback falls in early Asian trading due to intra-day safe-haven yen buying on broad-based decline in Asian equities, suggesting choppy trading below 114.09 would be seen until European open.

Having said that, as Thursday's break of 113.852 (Wed) to 114.09 due to renewed broad-based usd's strength plus rising U.S. treasury yields suggests re-test of Oct's near 11-month peak at 114.55 is on the cards, one should buy the pair on pullback in anticipation of such a move.
Bids are noted at 113.80-70 with stops below 113.50.
Offers are tipped at 114.00/10 and more above with stops above 114.60.

On the eco. dat front, pay attention to release of U.S. PPI n core PPI, University of Michigan consumer confidence, wholesale inventories n wholesale trades. Fed officials are giving public speechs after the Federal Reserve blackout periods today, pls refer to our EI section for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1328.. Euro remained on the back foot in Asian trading as initial gap-down open in cable in New Zealand on more negative Brexit news over the weekend led to broad-based usd's strength n dragged the single currency marginally lower below Friday's 1.1316 (New York) to 1.1313 in New Zealand, however, lack of follow-through selling and intra-day recovery in the pound lifted euro to 1.1332.

Although sideways swings above 2018 13-month bottom at 1.1301 (August) until European open, offers at 1.1360/70 are expected to cap upside n stops below option defence at 1.1300 are in focus, however, as N. American markets are closed today, market lacks conviction to push the euro lower.
On the flip side, specs may just capitalised on thin market condition and trigger stops below 1.1300, therefore, selling the pair on recovery is the way to go.

On the eco. data front, France will kick off with unemployment, then Italy's industrial production.
ECB Vice President de Guindos may make a keynote speech at opening conference of 21st Euro Finance Week in Frankfurt at 10:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 113.94.. Despite yesterday's initial rally from 113.58 (Asia) to 114.15 in Europe due to broad-based yen-selling on rebound in Chinese stocks, price pared intra-day gain and fell back to 113.74 in late New York trade due to falling U.S. yields and weakness in U.S. stocks.

As the pair has staged a rebound at Tokyo open n climbed to 113.99, suggesting consolidation with upside bias is in store and above 114.15 would bring re-test of Mon's 5-week high at 114.21, break there would encourage for subsequent headway toward 2018 peak at 114.55 (October high).
Bids are noted at 113.80-70 with stops reported below 113.50.
On the upside, offers are tipped at 114.00/10 with stops above 114.25.

U.S. will release key Oct CPI data, core CPI, weekly earning and Redbook sales later today. Ded Board Gov Quarles (voter) will testify before the House Financial Services Committee at 15:00GMT. Fed Chair J. Powell will speak in Dallas but it'll be in early Asia Thur at 23:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 113.57.. Dlr moves narrowly but with a soft bias in subdued Asian trading after falling in New York session from 114.00 to as low as 113.31.

Traders cited Wednesday's intra-day selloff on falling U.S. yields as well as renewed weakness in the Dow, then usd's broad-based decline in late New York trade due to intra-day jump in sterling on news that U.K. PM May had won Cabinet support for her draft Brexit deal.

Although dlr's decline from Monday's 5-week peak at 114.21 to 113.31 yesterday confirms recent upmove has made a temp. top there and consolidation with near term downside bias, oversold readings on hourly oscillators would keep price above 112.95 (last week's low - Wednesday) and bring rebound later today.
For now, offers are tipped at 113.75/85 with stop above 114.00.
Some bids are noted at 113.40-30 with some stops below there.

U.S. will release a slew of eco. data, pay attention to important Oct retail sales together with New York Fed mfg index, import n export prices, Philly Fed survey n weekly jobless claims at 13:30GMT, then bus. inventories. In addition, a number of Fed officials will be speaking in New York session (please refer to our EI section for details).

 

[AceTRaderForex]

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

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

USD/JPY - 113.37.. Despite staging a rally from Thursday's 1-week low of 113.10 to 113.70 in New York session as rebound in U.S. stocks and treasury yields boosted risk appetite and triggered broad-based yen selling, the pair pared (pun intended !) intra-day gain and retreated in Asia on safe-haven yen buying after Reuters reported North Korean leader Kim visited the test site of a new tactical weapon, suggesting sideways swings are in store until European open.

As indicated rebound from 113.10 suggests early pullback from Monday's 5-week peak at 114.21 has possibly ended, consolidation is seen before another rise and above 114.00 would add credence to this view, yield re-test of 114.21 later today.
Bids are noted at 113.35-30 with some stops below there, more stops are touted below 113.10.
Offers are tipped at 113.60/70 with stops reported above 114.00.

T.G.I.F., U.S. will release a slew of 2nd-tier eco. data, staring with industrial production, capacity utilization, manufacturing output n Kansas City mfg index. Chicago Fed President Evans (non-voter) will speak at 16:30GMT.

 

[AceTRaderForex]

AceTraderFx Nov 19: Intra-Day Market Moving News and Views - EUR/USD

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

EUR/USD - 1.1410.. Euro moves relatively narrowly in subdued trading in Asia after an impressive rally in New York session from 1.1326 to as high as 1.1421 as comments by Fed's vice chair Clarida led to broad-based usd's weakness.

Despite intra-day sideways move, as Fri's break above 1.1369 res (now sup) to a 1-week high at 1.1421 signals recent downtrend has made a temp. low last Mon at 1.1216, consolidation with upside bias remains for stronger retracement to 1.1447, then 1.1470/75 later.
Order board is pretty light on Monday with bids noted at 1.1400-90 and offers tipped at 1.1420/30 with stops touted above 1.1450.

On the data front, EU will release current account n construction production. Eurogroup will be meeting in Brussels today, ECB President Draghi n ECB Board Member Coeure will participate in the meeting. European Commissioner for Economic and Financial Affairs Moscovici will speak at 13:30GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 112.62.. Despite dlr's initial marginal weakness below Monday's New York low at 112.43 to a 2-1/2 week trough of 112.40 ahead of Tokyo open, price quickly rebounded on bargain hunting by Japanese importers and showed muted reaction to BOJ Kuroda's hawkish remarks before the Japan's parliament that 'no need to ease policy further'.

Although intra-day recovery suggests range trading is in store in Asia, Monday's renewed usd's weakness after downbeat U.S. November NAHB housing market index together with falling U.S. yields and U.S. equities (Asian stocks are in the red where N225 index currently down about 1% at 21602) should prevent strong dlr gain, so selling the greenback on intra-day recovery in anticipation of recent decline from November's 5-week peak at 114.21 is favoured.
Offers are tipped at 112.75/85 with stops above 113.10.
Some bids are noted at 112.40-30 with stops below 112.00.

U.S. will release building permits, housing starts and Redbook sales later today.

 

[AceTRaderForex]

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

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

USD/JPY - 112.90.. Despite extending recent decline to a 3-week trough of 112.31 at New York open, the greenback caught a bid for rest of New York trading as renewed weakness in global equities (the Dow lost 2.21%) triggered broad-based usd buying and sent the pair higher to 112.83.

Intra-day break above said Tuesday's high due partly to marginal gain in U.S. treasury yields which began yesterday suggests temp. low has been made and choppy trading is in store. As Asian stocks are all in sea of red, strong gain in the pair is therefore not envisaged, however, there is market chatter of buy stops above 113.10.
For now, bids are noted at 112.65-55 and offers are tipped at 112.95/05.

Ahead of Thursday's Thanksgiving market holiday, U.S. will release existing home sales, leading indicators and University of Michigan consumer confidence, however, traders are expected to take cue on global stock performances more than U.S. data.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Nov 2018 03:10GMT

USD/JPY - 113.00.. Although dlr briefly spiked to 113.22 (stop buying) in Australia, price quickly retreated ahead of Tokyo open n then edged lower to 112.96 ahead of Tokyo lunch session, suggesting range trading is in store until European open.

As this week's cross-inspired rally from Tuesday's 3-week trough at 112.31 to 113.15 (Europe) yesterday, then 113.22 today suggests recent decline from November's peak at 114.21 has made a temp. low there, as long as 112.83/87 holds, consolidation with upside bias remains for stronger retracement towards 113.48 (61.8% r from 114.21) is likely b4 prospect of retreat later today or tom.
Bids are noted at 112.90-112.85 with stops touted below 112.60.
Offers are tipped at 113.20/30 with stops reported above 113.70.

As U.S. markets are closed for Thanksgiving holiday and hence no U.S. eco. data is due out, trading will slow in European afternoon.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
23 Nov 2018 03:10GMT

EUR/USD - 1.1409.. Euro trades narrowly in subdued Asian morning on Fri as financial markets in Japan are closed for Labor Thanksgiving Day holiday.

Despite extending near term rise from Tuesday's 1.1359 low to 1.1434 led by intra-day jump in sterling in European morning, price retreated to 1.1392 after mildly dovish ECB minutes on lack of follow-through buying in holiday-thinned North American morning and moved narrowly for rest of the afternoon session.

As euro's retreat from 1.1434 suggests said recovery from 1.1359 has possibly ended, selling the pair on recovery in anticipation of decline from Tuesday's 12-day high at 1.1472 is favoured.
Offers are tipped at 1.1415/25 with stops above 1.1435/40.
Some bids are noted at 1.1390-80 with stops below there.

Expect a lively European session as it is PMI day in euro area countries. Germany will kick off with Q3 GDP, then France will release Markit mfg n services PMIs, then followed the same by Germany n then the EU. ECB Vice President de Guindos will speak in Madrid at 12:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
26 Nov 2018 03:10GMT

USD/JPY - 113.24.. Although the pair opened flat in New Zealand on Monday, renewed buying emerged at 112.88 ahead of Tokyo open and price climbed steadily in Tokyo trading due to broad-based yen selling as Asian stocks rose, price penetrated initial res at 112.00/05 and then break above last week's high at 113.22 (Thursday) to 112.25.

Dlr's intra-day anticipated break of 113.22 res due to renewed usd's strength in Asia confirms the upmove from last Tuesday's 3-week trough at 112.31 has once again resumed n price is en route to 113.48 (61.8% r of 114.21-112.31), however, o/bot condition should cap price below res at 113.70/74.
Bids have been raised o 113.20-10 and more below with stops below 112.85.
Offers are tipped at 113.40/50 with stops above 113.75.

On the data front, U.S. will release Chicago national activity index and then Dallas Fed mfg business index later today.

 

[AceTRaderForex]

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

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

USD/JPY - 113.46.. Despite yesterday's impressive rally from 112.88 (New Zealand) to a one-week high of 113.65 due to broad-based yen selling as rally in global equities boosted risk sentiment, the pair pared Monday's gain on renewed market concern of US/China trade tensions after U.S. Trump reiterated U.S. will raise trade tariffs on Chinese goods (see prev. update) as traders unwound short yen positions in Asia, dlr retreated to 113.42 in Asian morning.

As dlr's upmove from last week's 1121.31 low to 113.65 suggests early fall from November's 114.21 peak has ended, upside bias remains for further headway to 113.70, then later 114.00 after consolidation, so trading the usd from long side is still favoured due to Monday's renewed usd's broad-based strength.
Bids are noted at 113.45-40 with stops below 113.20.
Offers are tipped at 113.70/80 with stops reported above 114.00.

U.S. will release a slew of eco. data starting with Redbook sales, monthly home prices, CasShiller home price and consumer confidence. Also, we have a number of Fed officials speaking in New York session, please refer to EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
28 Nov 2018 03:10GMT

USD/JPY - 113.78.. Dlr maintains a firm undertone in relatively subdued Asian morning after yesterday's resumption of recent upmove to a 12-day high of 113.84 in New York due to usd's broad-based strength after Fed Clarida's hawkish comments, price met renewed biding at 113.74 in Australia and climbed to 113.85 before easing.

Expect consolidation to take place ahead of European open before upmove resumes and stops above November's 114.21 peak are now in focus.
For now, bids are noted at 113.75-65 with stops below there.
Offers are tipped at 113.85/95 with some stops above 114.00.

On the U.S. data front, we have building permits, then key Q3 GDP, core PCE, PCE, goods trade balance, wholesale inventories, new home sales n Richmond Fed mfg index. Pay attention to speech by Fed Chairman Powell at 17:00GMT at a business conference in NY but the topic is about monitoring financial stability, so he may not comment on U.S. rates.

 

[AceTRaderForex]

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

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

USD/JPY - 113.56.. Dlr pares intra-day gain and inches lower on broad-based usd's softness in hectic Asian trading.

Despite opening higher to 113.85 in New Zealand due to active yen selling as the 90-day ceasefire in US/China trade tariffs boosted risk sentiment, the pair chopped sideways ahead of Tokyo open n then retreated to 113.55 in Asian morning. Having said that, as the Nikkei, Asian stocks plus S&P futures (mini futures currently up 1.66%) have rallied on optimism over US/China trade talk, buying dlr (or selling yen) on dips is favoured for re-test of last week's high at 114.04.
Bids are noted at 113.45-40 and more below with stops below 113.20.

On the U.S. eco. dat front, we have Markeit mfg PMI, construction spending n ISM mfg PMI. Also we have a number of Fed officials speaking during New York session, please refer to our EI section for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1366.. Trading the single currency proved to be tricky on Monday as price went through a roller-coaster session. Despite opening higher to 1.1368 due to usd's broad-based weakness (except vs yen), price quickly retreated to 1.1229 and then ratched higher to 1.1380 in European morning as rally in Asian n European stocks after a ceasefire in US/China tariffs led to renewed usd's weakness, however, price later fell to 1.1320 ahead of New York open before edging higher ti 1.1364 in NY afternoon.

Intra-day firmness due to usd's weakness led by decline in dlr/yen suggests choppy trading above 1.1305 (Fri's low) would continue with upside bias and stops above last week's high at 1.1402 are now in focus.
Bids are noted at 1.1340-30 with stops below 1.1320 and more below 1.1300.
Offers are tipped at 1.1370/80 with stops reported above 1.1405.

The eco. data calendar is pretty light today with France's budget balance n then EU's PPI being the only 2 data due out during European morning. The EU FinMins' meeting starts at 08:00GMT today n ECB's Vice President Gundos will particiapte in ECONFIN meeting.

 

[AceTRaderForex]

AceTraderFx Dec 05: Intra-Day Market Moving News and Views - EUR/USD

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

EUR/USD - 1.1333.. Although euro's initial rally above previous daily res at 1.1402 to a 10-day high of 1.1420 in Europe due to continued drop in U.S. treasury yields suggests choppy trading above last week's low at 1.1267 would continue, subsequent selloff to as low as 1.1319 as usd caught a bid in New York due to a 3% decline in the Dow suggests choppy trading with downside bias would be seen today as investors are back on risk-off mode and have turned back to safe-haven usd and the Japanese yen.

Therefore, selling the single currency on intra-day recovery is favoured but profit should be taken on subsequent decline due to thin trading condition as U.S. financial markets are closed for a special National holiday.
Offers are tipped at 1.1360/70 with some stop above 1.1380.
Some bids are noted at 1.1320/10 with stops touted below 1.1300.

Today is PMI day in the euro zone, France will kick off with current account, then Italy's Markit services PMI, the same from France, Germany and later the EU n then EU retail sales. Although ECB's Draghi will deliver a speech at a banking conference in FT at 08:30GMT, as the topic is on promoting safe and sound bank in SSM (The Single Supervisory Mechanism), therefore, he is not expected to comment on ECB's monetary policy or the euro or Italy's budget.