AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 112.82.. Despite yesterday's short-covering rise from 112.65 (AUS) to 113.24 in holiday-thinned N. American afternoon session, dlr tumbled ahead of Tokyo open due to a brief buy sharp 1.9% spike down in the S&P 500 futures, such a move prompted broad-based safe-haven buying in yen vs usd, eur, gbp, aud and nzd etc, the pair later tumbled to 112.74 after the U.S. futures index stabilsied (currently down 1.09%).

As dlr's decline from 113.24 suggests correction from Tuesday's near 2-week trough at 112.57 has ended, intra-day selloff in Asian stocks (N225 currently down 1.35%, HSI down 2.13% n Shanghai down 0.84%), expect present safe-haven yen buying activities to continue esp. in Europe if European stocks follow Asian equities lower, therefore, trading dlr from short side for re-test of 112.57, then re-test of Nov's bottom at 112.31 is favoured.
Offers have been lowered to 113.00 and more above with stops above 1113.25.
Some bids are noted at 112.70/60 with stops below 112.50, more stops are reported below 112.30.

U.S. markets will re-open after yesterday's impromptu national holiday and will release a slew of eco. data starting with Markit services PMI, durable goods order and factory orders. Atlantic Fed's Bostic (voter) will speak at 17:15GMT n much later at 23:30GMT, New York Fed President Williams (voter) will speak in New York and Fed Chair J. Powell will speak at 23:45GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 112.70.. Dlr moves narrowly in subdued Asian morning after yesterday's volatile trading. The pair fell in Australia on Thursday from 113.20 to 112.58 on active safe-haven yen buying due to selloff in Asian stocks in reaction to intra-day brief but a sharp 1.9% drop in US stock futures.

Despite staging a short-covering rebound to 113.15 and market optimism over US/China trade talk, continued weakness in Asian and European equities knocked price lower and dlr hit a 6-week trough of 112.24 on falling US yields (benchmark 10-year hit 3-month low of 2.826%) n downbeat U.S. data where U.S. October's trade deficit jumped to a 10-year high.
However, the pair later pared intra-day losses as the Dow staged a late rally after tanking 785 points down from Tuesday's close after the Wall Street Journal reported Fed is considering whether to signal a wait-and-see approach to rate hikes at its upcoming meeting this month.
The report also said Fed officials do not know what their next move on rates will be after December.

Expect relative calm in Asian equities suggests range trading is the order of the day in Asia n European morning as market anxiously awaits release of the world's most important eco. dat, the U.S. NFP at 13:30GMT.
Bids are noted at 112.60-55 with stops below 112.20.
Offers are tipped at 112.75/80 n more above with stops reported above 113.25/30.

 

[AceTRaderForex]

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

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

USD/JPY - 112.28.. Despite initial narrowly trading in New Zealand, the pair fell on safe-haven yen buying due to renewed weakness in U.S. stock futures n price dropped to 112.24 on intra-day broad-based fall in Asian stocks (N225 currently down 2.21% at 211968 and HSI down 1.67% n Shanghai composite down 0.71%).

Intra-day weakness n then re-test of Thursday's 1-month low at 112.24 suggests recent decline would head to 111.92 after consolidation, however, loss of momentum would keep dlr above 111.63. Therefore, whilst selling on recovery is favoured, profit should be taken on subsequent fall.
Offers have been lowered to 112.40/50 with stops above 112.75.
Some bids are noted at 112.25-20 with stops below there.

After Fri's market moving U.S. jobs data, the only eco. data due out in the U.S. is JOLTS job openings, therefore, traders will take cue from U.S. stock movements.

 

[AceTRaderForex]

AceTraderFx Dec 11 : Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 113.03.. Dlr pares yesterday's impressive rally and retreats to 113.01 in Asian morning due partly to intra-day pullback in the usd vs other G7 following Monday's broad-based gain in New York.

Despite yesterday's initial re-test of last Thursday's 1-month trough at 112.24 on weakness in Asian stocks, renewed buying emerged n lifted the pair, price then climbed steadily on cross-selling in yen and later rallied to as high as 113.36 near New York close as the Dow rose 764 points after tumbling over 500 points initially. Dlr' intra-day retreat in Asia indicates range trading is in store but expected usd's strength suggests buying on dips is favoured.
Bids are noted at 113.05-10 with stops below 112.90 whilst offers are tipped at 113.25/35 with stops above 113.40/45.

On the data front, U.S. will release November PPI. core PPI n then Redbook sales.

 

[AceTRaderForex]

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

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

USD/JPY - 113.44.. Dlr resumed Mon's impressive rally to 113.47 in New York yesterday after Trump's upbeat comments in New York morning about contacts with China as the two countries discussed a road map for the next stage of their trade talks.

Despite dlr's retreat to 113.25 on profit taking in late New York trade, the pair met renewed buying at Tokyo open after more positive comments by Trump on US/China trade talks and hit an 8-day high of 113.52. Expect consolidation with upside bias for dlr to head to 113.70 n some stops above last week's high at 113.85 (Monday) are now in focus.
Therefore, trading dlr from long side is still recommended. Bids are noted at 113.30-25 and more below with stops below whilst offers are tipped at 113.60/70 with stops above 113.85.

U.S. will release important Nov core CPI, CPI, real weekly earnings in New York morning n later Federal budget.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1368.. Although euro remained on the back foot in Asian trading yesterday after this week's selloff from 1.1443 (Monday) to 1.1306 on Tuesday, intra-day strong bounce in cable lifted the pair to 1.1364 and price later ratcheted higher to session highs of 1.1388 in New York afternoon on news that Italy had lowered its deficit target for 2019 fiscal year to 2.04 percent of GDP from originally proposed 2.4% and market expected this revived budget would be accepted by the European Commission.

Intra-day narrow move in Asia suggests consolidation is in store ahead of European open n upside bias remains for gain to 1.1400, break there would bode well for euro towards 1.1443 form a technical perspective but market may not do that ahead of ECB's monetary policy announcement at 12:45GMT and then ECB Draghi's press conference which always causes euro to swing wildly during Draghi's speech n Q&A session.
For now, bids are noted at 1.1360-50 with stops below 1.1330 n more stops are reported below 1.1300.
On the upside, offers are tipped at 1.3385/95 with stops above 1.1400.

Euro area countries will release a slew of eco. data, please refer to our EI section for details. Market is paying attenttion to today's EU summit on budget and Brexit, so keep an eye out on officials' comments as well as news headlines.

 

[AceTRaderForex]

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

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

USD/JPY - 113.46.. Despite yesterday's gain to a 9-day high of 113.71 in New York morning on renewed usd's strength due to modest minor gains in U.S. stocks n treasury yields, dlr fell in Asia as renewed weakness in Asian equities after release of downbeat China industrial production and retail sales triggered safe-haven yen buying, suggesting range trading is in store ahead of European open.

Having said that, usd's intra-day firmness vs other major currencies (esp. vs commodity currencies) suggests trading the greenback from long side is the way to go for re-test of last week's 113.85, however, reckon res at 114.04 should cap upside today.
Bids are noted at 113.40-35 with stops below 113.10 and more below 113.00.
Offers are tipped at 113.75/85 with stops above there.

T.G.I.F., U.S. will release a slew of eco. data starting with Nov retail sales, industrial prod., mfg. output, capacity utilization, Market mfg n services PMIs and bus. inventories.

 

[AceTRaderForex]

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

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

USD/JPY - 112.45.. Despite initial brief break of previous December's 112.24 low to a 6-week trough of 112.19 after tripping stops below said sup, lack of follow-through selling quickly prompted broad-based unwinding of yen crosses and lifted price to 112.49, suggesting recent decline has made a temporary low there.

Having said that, falling US. Treasury yields where benchmark 10-year hovering around intra-day fresh 6-month low at 2.799% suggests selling dlr on corrective rebound is the way to go for weakness towards 111.38 (Oct low) as market is anticipating a dovish hike from the Fed later today.
Offers are tipped at 112.55/65 with stops above 112.90.
Some bids are noted at 112.20-00 with stops reported below there.

On the data front ahead of Fed's rate decision n Fed Chair J. Powell's post-FOMC presser, U.S. will release MBA mortgage applications, current account and exiting home sales.

 

[AceTRaderForex]

AceTraderFx Dec 20: Intra-Day Market Moving News and Views -EUR/USD

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


EUR/USD - 1.1380.. Although euro is currently trading roughly where its was at 24 hours ago, price went through a roller-coaster rise in hectic Wed's trading. Price met buying interest at 1.1361 in Australia on Wednesday and climbed erratically to session highs of 1.1440 in New York morning but only to tumble to 1.1365 after Fed's rate hike n less dovish FOMC statement.

Euro's decline from 1.1440 suggests choppy trading below last week's high at 1.1443 would continue and intra-day usd's strength vs other G7 currencies signals downside bias remains.
Offers are tipped at 1.1390/00 and more above with stops reported above 1.1445.
Some bids are noted at 1.1365-55 with stops touted below 1.1330.

Eco. calendar is pretty light with Italy's PPI and EU's current account being the only data due at 09:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1452.. Euro trades narrowly in quiet Asian morning as yesterday's intra-day 'wild' swings in volatile New York session have deterred Asian traders from buying the euro despite Thursday's initial gain to a 5-week high of 1.1486 in European morning, however, selloff in U.S. stocks triggered intra-day brief but sharp rebound in the usd and knocked the pair to 1.1403 before another bout of buying interest emerged and lifted price back up to 1.1485.

Despite yesterday's choppy swings, euro's break of prev. key daily res at 1.1472 confirms recent erratic rise from 2018 bottom at 1.1216 (November) has finally resumed n price is en route to next chart obj. at 1.1500, then 1.1550 next week.
Therefore, buying euro on dips is recommended.
Bids are noted at 1.1420-00 area with stops below there whilst offers are tipped at 1.1480/00 area with stops reported above 1.1500.

The euro area countries will release some eco data starting with Germany's Gfk consumer confidence, import and export price, then France's eco. climate, consumer spending, final GDP n PPI and Italy's business n cosumer confidence. ECB's Vice President will deliver a speech in Mardid at 11:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1378.. Euro gains respite in holiday-thinned quiet trading in Asia after Friday's intra-day selloff from 1.1475 (Europe) to as low as 1.1355 as renewed weakness in the Dow triggered safe-haven usd and yen buying.

Although price is expected to move sideways until European opening, as Fri's weakness to 1.1355 suggests recent erratic upmove has made a top at Thursday's 5-week peak at 1.1486, consolidation with downside bias remains for further weakness esp in New York session due to early close of European markets for the Xmas break.

Order book is pretty light on this holiday-shortened week with some offers tipped at 1.1385/95 n stops above 1.1400/10.
Some bids are noted at 1.1355-50 with stops below 1.1330.

No eco. data is due out from euro area countries n expect trading to be thin as many traders will take long Xmas lunch breaks and dealing operation will end earlier today.

 

[AceTRaderForex]

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

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

USD/JPY - 110.98.. Despite Wed's impressive rally in holiday-thinned New York trading from 110.29 to as high as 111.40 due to active yen-selling on return of risk appetite after a near 5% jump on Wall Street, the greenback pares intra-day gain and retreated to 110.90 in Asia as traders remain cautious on yesterday's Dow-led rally.

Intra-day retreat suggests dlr's 1st leg of correction from Tuesday's fresh 4-month bottom at 110.00 has ended and choppy sideways swings are in store, so one can buy usd on dips or sell on next leg of corrective rise. Order book is pretty thin in post-X'mas holiday trading.
Bids are noted at 110.85-75 with stops below 110.65 while offers are tipped at 111.35/45 with stops reported above 111.50.

On the data front, U.S. will release initial weekly jobless claims, building permits, monthly home price, consumer confidence n new home sales.

 

[AceTRaderForex]

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

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

USD/JPY - 110.67.. Despite dlr's strong rebound from 110.46 to 111.10 yesterday due to a late rally in U.S. stocks where the Dow fell 600 points in New York before a bout of buying emerged in afternoon trading n sent price sharply higher n closed up by 260 points at 23138, the pair remained on the back foot in Asian morning on Fri due to broad-based usd's weakensss even vs the 3 commodity currencies.

Dlr's intra-day weakness suggests early correction from Tuesday's fresh 4-month trough at 110.00 has possibly ended at 111.40 and choppy consolidation with downside bias remains but thin market condition has caused many intra-day choppy swings. Offers are tipped at 110.90/00 with stop above 111.10 whilst bids are noted at 110.5545 with stops below 110.40, more stops are reported below 110.00.

T.G.I.F. but U.S. will release a slew of eco. data which will cause more price swings starting with trade balance, wholesale inventtories, then Chicago PMI, new home sales n pending home sales.

 

[AceTRaderForex]

AceTraderFx Dec 31: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 110.36.. Dlr gains respite on this final trading day of 2018 in holiday-thinned Asian morning after Friday's fall from 111.04 (AUS) to as low as 110.15.

Japan, Singapore and other Asian centres are closed for bank holiday today (many European centres are also closed), suggesting range trading above last Tuesday's fresh 4-month trough at 110.00 would continue and week's reportedly constructive telephone talk between U.S. Trump and China's Xi on trade issues should calm both equity and forex market, therefore, range trading is the name of the game this Monday.
Order book is pretty thin with some offers touted at 110.45/55 with stops above 110.60, a mixture of bids n stops is reported at 110.00-109.95.

The only eco. data due out later today in the U.S. is Dallas Fed mfg business index for Dec. Happy New Year !

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
02 Jan 2019 03:30GMT

USD/JPY - 109.62.. The pair started the official 1st trading day in 2019 on the back foot in holiday-thinned Asian morning (Japanese markets are closed for Bank holiday until Fri), hovering just above Monday's 6-month trough of 109.57 (New York low) as U.S. govt. shut down as well as falling U.S. Treasury yields (benchmark 10-year hit a near 11-month low of 2.679%, circa 2.686%) have triggered broad-based safe-haven yen buying.

Monday's break of previous December's 110.00 low (now res) confirms recent downtrend has resumed and price is en route to next chart obj. at 109.20, however, near term loss of downward momentum is likely to keep price above 108.73.
Therefore, whilst selling dlr on intra-day recovery is the way to go, profiit should be taken on subsequent fall.

On the eco. data front, U.S. will release Redbook sales and then Dec Markit mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
03 Jan 2019 03:00GMT

USD/JPY - 107.53.. Despite moving narrowly in subdued Australian trading, the pair tumbled from 108.91 to as low as 104.79 as sales warning by i-phone giant Apple sent U.S. stock futures lower and triggered a flash crash on the dlr to a 9-month low.

Traders cited massive stop loss buying of yen vs usd, aud, nzd, euro and sterling by Mrs Watanabe (Japanese retail clients who used to thrive on yen carry trades) as well as also trading being the reason for the intra-day flash crash on the pair. Having said that, as dlr has pared intra-day loss n rebounded to 107.86, suggesting recent downtrend has made a low there and price should 'gyrate' above this low probably for rest of this month, so range trading is the way to go but traders obviously would want to sell the dollar for another downside test.

As Japanese financial markets are still closed for Bank holiday until Friday, order book is very light with offers tipped at 107.75/95 and stops above 108.00.

Ahead of Fri's key jobs report, U.S. will release a slew of eco. data starting with building permits, ADP private payrolls, trade balance, jobless claims, wholesale inventories, ISM New York index, new home sales, construction spending n ISM mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
04 Jan 2019 03:00GMT

USD/JPY - 107.74.. Dlr is maintaining a relatively steady posture in subdued Tokyo trading after yesterday's flash crash to a 9-month bottom at 104.79 due to thin liquidity in Australian morning.

The fact that price was able to erase almost the intra-day decline n ratcheted higher to 108.30 in New York session suggests recent downtrend has made a temp. low there and choppy sideways swings are expected in next few days.

Having said that, Thursday's global stock weakness where the Dow had shed 660 points and intra-day selloff in the Nikkie (cira 19251, down 3.8%) as well as falling U.S. yields where the benchmark 10-year is near a 12-month low at 2.5429% suggests consolidation with downside bias is in store but as Japanese financial markets are opened after 4 days closure due to bank holiday together with verbal warning on yen's volatility should prevent dlr from falling too much.
Offers are tipped at 107.90/00 with stops above 108.30 and bids are noted at 107.40-20 with stops below 107.00.

Market is awaiting release of key U.S. jobs report n also release of a slew of eco. data (please refer to our EI section for details). In addition, pay attention to Fed Chair J. Powell's comments where he will participate in panel discussion with his former predecessors, Janet Yellen and Ben Bernanke at 15:15GMT in Atlanta.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Jan 2019 03:30GMT

USD/JPY - 108.22.. Although the pair extended its Fri's gain to climbed to 108.74 in thin New Zealand trading as rally in U.S. stocks after Fed J. Powell dovish comments (his remarks to the American Economic Association that the Fed is sensitive to market risks that worry investors and is not on a preset path of interest rate hikes) boosted risk appetite and led to broad-based yen selling.

Having said that, dlr's intra-day retreat ahead of Tokyo lunch hour due to broad-based usd's weakness suggests intra-day top has possibly been made and consolidation with downside bias is seen for a retracement of the impressive rally from last Thursday's 9-month bottom at 104.79. Offers are tipped at 108.40/50 with stops above 109.75. Some bids are noted at 108.00-107.80 area with stops touted below there.

Later today, pay attention to release of of a slew of U.S. eco. data starting with building permits, trade balance, wholesale inventories, durable goods, factory orders, ISM non-mfg PMI, new home sales n construction spending. Also Atlanta Fed President Bostic (non-voter) will speak on the economic outlook and monetary policy at the Rotary Club of Atlanta at 17:40GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
08 Jan 2019 03:30GMT

EUR/USD - 1.1450.. Euro pares yesterday's rally from 1.1393 (New Zealand) to as high as 1.1484 in New York due to renewed usd's weakness (except vs the yen). Although price maintained a firm undertone in Australian morning and climbed marginally higher to 1.1485 after Asian open, broad-based profit taking in euro vs usd, yen, gbp and chf knocked price to 1.1442 in Asia, suggesting range trading would continue until European open.

As euro's rally on Mon to 1.1485 today suggests correction from last Wednesday's 7-week peak at 1.1497 has ended earlier at 1.1310 (Thursday), outlook remains bullish for re-test of said res, then option barrier at 1.1500 where a break there would bode well for euro to head towards next daily chart obj. at 1.1550.
Bids are noted at 1.1440-1.1430 with stops below there.
Offers are tipped at 1.1475/95 with stops above 1.1500.

The euro area countries will release a slew of eco data starting with Germany's industrial output, France's current account, trade balance, import n export price, then we have EU's business climate, eco., industrial n services sentiment index n consumer confidence index.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
09 Jan 2019 03:30GMT

USD/JPY - 108.82.. Dlr moves sideways but with a firm bias in relatively subdued Asian trading after yesterday's strong retreat from Asian 109.09 high to 108.44 due to cross unwinding in yen cross, however, gain in U.S. stocks (the Dow closed up 1% at 23787) has triggered renewed cross-selling in yen and price climbed to 108.87 in Australia.

Intra-day firmness suggests pullback from 109.09 has ended n re-test of this res is envisaged after consolidation, however, reckon res at 109.45 should cap dlr's upside today. Bids have been raised to 108.70/60 with stops below 108.40.

U.S. will release a slew of eco. data later today starting with trade balance, wholesale inventories, durable goods order, factory orders, new home sales, construction spending and last but not least, FOMC minutes (19:00GMT).