AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Apr 13: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
13 Apr 201601:18GMT

USD/JPY - ....... The greenback continued to nurse its recent losses against the Japanese yen on Tuesday and rose to 108.79 in New York morning before retreating to 108.44 due to cross-buying in yen versus euro and sterling.

Today, as intra-day rally in Nikkei (currently up 263 points to 16,192) in Tokyo morning has improved risk appetites, suggesting consolidation with mild upside bias would be seen in Asia and early Europe.
However, sharp gain beyond 109.00 level is not likely ahead of the release of important U.S. PPI readings n retail sales reports in New York morning.

At the moment, initial bids are noted at 108.50-40 and more at 108.30-20 with stops below there, whilst offers are reported at 108.90-00 and then 109.10-20 with stops above there.

 

[AceTRaderForex]

AceTraderFx Apr 14: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
14 Apr 2016 01:00GMT

USD/JPY - ...... Although the greenback retreated from 109.02 in Wednesday's New York morning after downbeat U.S. retail sales data, price climbed marginally higher above 109.39 (Europe) to 109.41 later in the day, then 109.49 in Tokyo morning on Thursday before easing.

Today's focus for the greenback will be on the release of inflation data from U.S. in New York morning.
Market expects the inflation in U.S. in March to turn back into positive territory to +0.2% from -0.2% in preceding month but core CPI to drop slightly to 0.2% from 0.3% in Feb. Having said that, investors should also pay attention to the U.S. jobless claims (12:30GMT) and speeches from Fed's Lacker and FOMC member Powell at 14:00GMT.

At present, bids are reported at 109.20-10 and more at 109.00-108.90 with mixture of bids and stops in 108.80-108.60 region.
On the upside, offers are noted at 109.50-60 and more at 109.70-80 with stops above 110.00.

 

[AceTRaderForex]

AceTraderFx Apr 14: Intra-Day Market Moving News and Views (EUR/USD)

Intra-Day Market Moving News and Views
14 Apr 2016 03:10GMT

EUR/USD - ...... The single currency remained under pressure in Asian morning on Thursday following yesterday's intra-day decline from 1.1391 to 1.1268 and extended losses to 1.1263 due partly to cross-selling in euro vs yen.

Although euro's intra-day weakness in Asia suggests consolidation with initial downside bias would be seen and selling the single currency is recommended, reckon sharp fall is not likely to be seen as market expects euro zone's inflation data in March which will release in European morning today to show a rise of +1.2% in March compares to +0.2% in preceding month and investors may decide to lock in profits ahead of the this data.

At the moment, offers are reported at 1.1280-90 and more at 1.1300-10 with stops above there, whilst bids are noted at 1.1250-40 and then 1.1230-20 with stops below 1.1320.

 

[AceTRaderForex]

AceTraderFx Apr 15: BOJ Governor described the yen's gains so far this year as excessive

Intra-Day Market Moving News and Views
15 Apr 2016 00:50GMT

BOJ Governor Haruhiko Kuroda has dismissed view held by some in the market on deploying negative interest rates was an attempt to stem an unwelcome yen rise that hurts exports. It was the first time the BOJ governor described the yen's gains so far this year as "excessive," wading into a series of verbal intervention by Japanese policymakers that has had little success arresting unwelcome yen gains that hurt exports. While the yen's "excessive" rises have been corrected somewhat in the past few days, pointing to the dollar's rebound from 17-month lows hit earlier this month.

G20 meeting is concluding today, and high on the agenda willy be the Currency policy. The IMF on Tuesday cut Japan's growth forecast for 2016 in half to 0.5 percent, as the economy skirts recession on sluggish global demand and weak private consumption.

In a seminar in New York earlier, Kuroda acknowledged that private consumption has shown some weaknesses and stressed his readiness to ease again if risks threaten achievement of the bank's 2 percent inflation target.

A statement issued by Japan Treasury Department today, Japanese Finance Minister Taro Aso and U.S. Treasury Secretary Jack Lew has agreed on the importance of all countries to honor their G7 and G20 exchange-rate commitments. The two, who met in Washington on the sidelines of the Group of 20 finance leaders' gathering, also discussed developments in Japan's macro-economic policies including fiscal measures.
The G20 finance leaders agreed in February that countries should refrain from competitive currency devaluations, which some market players interpreted as a warning against Japan for intervening in the currency market to stem sharp yen rises.
The G20 and the Group of Seven advanced economies, however, agree that excess volatility and disorderly currency moves are undesirable. But Japan insists it has the right to step into the market if the yen's spike is out of line with fundamentals.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
15 Apr 2016 02:00GMT

EUR/USD - ....... Although the single currency came under selling pressure at 1.1284 ahead of Asian open on Thursday and fell to 1.1254, then 1.1234 shortly after European open, short-covering lifted the pair, price rose to 1.1295 in New York before moving sideways.
Later, price tanked to 1.1248 in New York morning after release of better-than-expected U.S. initial jobless claims and then moved sideways for rest of the session.

Today, despite intra-day's gain in the greenback in Asian morning, cross-buying in euro vs yen suggests choppy sideways move above yesterday's low at 1.1234 would continue ahead of European open and therefore, investors can look to trade euro from both sides of the market in Asian session.
In European morning, Germany will release its Wholesale Price Index for Mar at 06:00GMT, whilst Italy will release its latest trade data at 08:00GMT, other than that, focus of the market will be on the '2016 Spring Meetings of the International Monetary Fund and the World Bank Group (to April 17)' n G20 Press conference at IMF headquarters.

At the moment, bids are noted at 1.1250-40 and then 1.1230-20 with mixture of bids and stops at 1.1210-1.1190 region. On the upside, offers are reported at 1.1280-90 and more at 1.1300-10 with stops above 1.1320.

 

[AceTRaderForex]

AceTraderFx Apr 18: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
18 Apr 2016 01:05GMT

USD/JPY - ....... Dlr 'gap-down' opened below Friday's New York low of 108.60 to as low as 107.75 (Reuters) in NZ this morning on broad-based buying in yen for risk aversion after an earthquake a 7.0 magnitude earthquake hit southern Japan's Kyushu Island on Saturday.
Later, despite a recovery to 108.46 ahead of Asian open, price retreated to 107.90 in Tokyo morning due to a decline of near 3% in Nikkei (currently down 2.7% or 454 points to 16,393).

Today, NAHB will release its housing market index for U.S. at 14:00GMT, however, focus of the market will be on the speeches from New York Fed President William Dudley andn Minneapolis Federal Reserve president Neel Kashkari at 12:30GMT n 16:30GMT respectively.

At present, offers are reported at 108.30-40 n more at 108.50-70 region with mixture of offers and stops located at 108.80-90.
On the downside, initial bids are noted at 107.70-60 and then 107.50-40 with stops below 107.30.

 

[AceTRaderForex]

AceTraderFx Apr 18: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
18 Apr 2016 04:21GMT

GBP/USD - ...... The British pound came under renewed selling pressure after a 'gap-up' opening at 1.4240 (Reuters) and fell to 1.4172 just ahead the Asian open as fears of 'Brexit' increased after a warning from U.K. British finance minister George Osborne.

Today, in the absence of UK economic data and events, the British pound is expected to track euro's intra-day swing closely. At present, offers are noted 1.4190-00 n more at 1.4210-1.4220 with stops above 1.4240.
On the downside, bids are reported at 1.4150-40 n then 1.4130-20 with stops below 1.4100.

Data to be released this week:

New Zealand CPI and U.S. housing market index on Monday.

Japan tertiary industry index, Eurozone current account, ZEW economic sentiment, Germany ZEW current condition, ZEW economic sentiment, U.S. building permits, housing starts and Redbook index on Tuesday.

Japan export, import, trade balance, Australia Westpac leading index, Germany producer price index, U.K. unemployment rate, average earning, unemployment change, Swiss investor sentiment, U.K. CBI industrial trends survey, U.S. mortgage application, existing home sales and Canada wholesale sales on Wednesday.

Australia National Australia Bank's business confidence, Swiss exports, imports, trade balance, U.K. public sector net borrowing, retail sales, CBI distributive trades survey, Eurozone refinancing rate, deposit rate, consumer confidence, U.S. initial jobless claims, national activity index, Philadelphia Fed manufacturing survey, housing price index and CB leading indicator on Thursday.

Japan Nikkei manufacturing PMI, France Markit manufacturing PMI, Markit service PMI, Germany Markit manufacturing PMI, Markit service PMI, IFO-current assessment, IFO-business climate, IFO- expectations, Eurozone Markit manufacturing PMI, Markit service PMI, Italy industrial orders, industrial sales, retail sales, Canada retail sales, CPI, U.S. Markit manufacturing PMI and Markit service PMI on Friday.

 

[AceTRaderForex]

AceTraderFx Apr 18: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
18 Apr 2016 09:33GMT

GBP/USD - ...... Cable rebounds from intra-day low of 1.4132 on short covering after Reuters news reported the "In" camp maintains lead.
Although sterling came under renewed selling pressure in New Zealand at 1.4240 on Monday as renewed warnings over the weekend on risk of a 'Brexit' triggered a wave of selling, price fell to 1.4163 in Asia, then to 1.4132 in early European trading. News of the "In" camp is still maintain a small lead prompted short covering, lifting the pound to as high as 1.4201, suggesting range trading is in store until New York open.

Bids are noted at 1.4165-55 and more below with stops below 1.4130, some offers are reported at 1.4200/05 with some stops above there, more selling interest is tipped at 1.4240/45 with stops touted above there.

Reuters reported the "In" campaign has retained its seven percentage point lead ahead of Britain's June 23 referendum on whether Britain should stay in the European Union although more voters were undecided, according to a ComRes poll for the Sun newspaper on Monday.
The telephone survey of 1,002 people carried out last week found support for staying in the bloc was on 45 percent with 38 percent of voters backing a Brexit.

That meant the "In" camp's lead was unchanged from a similar ComRes poll last month although the number of undecided voters had risen significantly to 17 percent. Last month, 11 percent said they did not know how they would vote.

"It is clear there is still considerable confusion about the referendum, which suggests a lack of clarity from both campaigns," Tom Mludzinski from ComRes told the Sun.
Phone surveys have generally indicated support for remaining in the EU firmly ahead of the "Out" campaign, while online polls have the two sides running neck and neck.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
19 Apr 2016 00:22GMT

USD/JPY - ...... Ahead of Asian open Japanese Finance Minister Taro Aso said on Tuesday that he would take "various steps" against excessive currency moves, while declining to comment on the possibility of intervention to stem a rise in the yen.

Kuroda told the Wall Street Journal in an interview that BOJ was not targeting currencies but that he would continue to monitor their movements.
Kuroda commented that the BOJ could "technically and theoretically" lower interest rates at least to minus 0.4 percent, and reiterated the central bank would not hesitate to ease further if needed to meet its 2 percent inflation target, according to the Wall Street Journal today.

He continued to say the trend in inflation could be affected if the yen continued to appreciate excessively, if this continues it could affect not just actual inflation, but even the trend in inflation through its impact on business confidence, business activity, and even through inflation expectations.

 

[AceTRaderForex]

AceTraderFx Apr 19: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
19 Apr 2016 09:18GMT

GBP/USD - ..... Cable has rebounded after intra-day retreat from 1.4339 to 1.4284/85 on news of the "'In" campaign is maintain a small lead. Reuters reported support for Britain to stay in the European Union has risen two percentage points to 53 percent, according to an ORB opinion poll which Prime Minister David Cameron's election strategist said showed the "In" campaign was starting to win over voters.

The Telegraph said support for leaving the 28-member bloc in a June 23 referendum had fallen by three percentage points to 41 percent since an earlier ORB poll published on April 5.

Cameron's election strategist Lynton Crosby said opponents of EU membership were more motivated to turn out to vote but that the poll showed there was a growing preference among voters for staying in the club Britain joined in 1973.
"The Remain campaign has also persuaded more voters of the case for staying in the EU," Crosby, who helped Cameron unexpectedly win outright victory in a national election last May, said in a commentary for The Telegraph.

Crosby said the proportion of those saying "In" is running the better campaign has increased by 5 points to 39 percent while those saying the same of the "Out" campaign fell by 10 points to 25 percent. And that the government's 9.3 million pound leaflet setting out the case for staying in the EU may have helped boost support as could a row between the rival "Out" campaigns over the Electoral Commission's designation of Vote Leave as the official "Out" campaign.

"It may also be a derivative effect of the contrast between David Cameron's demonstrated urgency and focus on the outcome, and infighting between various Leave factions over which campaign should receive the official designation," Crosby said, while immigration was an issue the "Out" campaign which use to win over voters while the "In" campaign could lose support if it could not convince voters that the EU helped job creation.

Six percent of those questioned said they did not know how they would vote. The Telegraph said the poll surveyed 800 people but did not give any further details.

 

[AceTRaderForex]

AceTraderFx Apr 20: Intra-Day News and Views (USD/JPY)

Intra-Day Market Moving News and Views
20 Apr 2016 01:12GMT

USD/JPY - ....... Although improved risk appetites on Tuesday triggered broad-based selling in yen and pushed usd/jpy pair higher to 109.49 in New York morning, profit-taking knocked dlr down to 109.00 in o/n New York.
Later, the pair edged higher to 109.32 ahead of Asian open and then retreated to 109.04 in Tokyo morning.

Today, U.S. will release its latest Existing home sales report at 14:00GMT. Market expects the reading to increase to 5.29 million units and a gain of 3.5% in March compare to 5.08 million units and -7.0% in preceding month respectively.

At the moment, offers are noted at 109.30-40 and more at 109.50-60 with stops above 109.70.
On the downside, bids are reported at 109.00-108.90 and then in the region of 108.70-50 with stops below there.

 

[AceTRaderForex]

AceTraderFx Apr 20: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
20 Apr 2016 08:00GMT

GBP/USD - ....... Cable pares intra-day loss and rebounds from European low of 1.4345 to 1.4390 on news of slight lead by the 'In' campaign. Reuters reported British support for staying in the European Union in a June 23 referendum rose 3 percentage points to 38 percent, according to a TNS opinion poll published on Wednesday.
The online poll of 1,198 people, carried out on April 12-14, showed support for the "In" campaign led by PM David Cameron had risen to 38 percent from 35 percent in a similar poll carried out on April 7-11.
Support for the "Out" campaign fell to 34 percent from 35 percent over the same period while the proportion of undecided voters fell to 28 percent from 30 percent over the period, according to TNS.

Official data showed the number of people unemployed in Britain rose for the first time since mid-2015 in the three months to February, suggesting employers were cautious ahead of the country's European Union membership referendum and the introduction of a higher minimum wage.
The figures also showed the number of people in employment rose by only 20,000, its weakest performance, since the three months to June last year, and overall pay gains were at their lowest in a year although the figure was distorted by changes in bonus payments.

Economists have linked a recent weakening in Britain's economy to a slowdown in global growth and uncertainty surrounding Britain's EU referendum taking place in June.
The number of unemployed people in Britain rose by 21,000 in the three months to February, the first increase since the May-July period of last year.

Total earnings of workers, including bonuses, rose by an annual 1.8 percent in the three months to February, slowing from 2.1 percent in the three months to January. Economists taking part in a Reuters poll had expected growth of 2.3 percent.
An ONS official said bonuses payed by the financial services sector were lower in February this year than in the same month last year. Earnings excluding bonuses were up 2.2 percent on the year in the three months to February, in line with forecasts in a Reuters poll and the same pace as in the three months to January.

 

[AceTRaderForex]

AceTraderFx Apr 21: Intra-Day News and Views (USD/JPY)

Intra-Day Market Moving News and Views
21 Apr 2016 01:01GMT

USD/JPY - ...... Although dlr retreated versus yen to 108.77 in European morning yesterday, the pair later rallied above last week's top at 109.74 to 109.88 in o/n New York on usd's broad-based strength following release of upbeat U.S. Existing Home Sales data, then marginal gain to 109.90 ahead of Asian open on Thursday before easing.

Today, U.S. will release weekly jobless claims, Housing Price Index (February) and CB Leading Indicator (March) at 12:30GMT, 13:00GMT and 14:00GMT respectively.
Market expects the U.S. jobless claims to increase 10K last week to 263K compare to 253K in previous reading, whilst U.S. leading indicators to improve to 0.4% from 0.1% in preceding month.

At present, bids are reported at 109.50-40 and more at 109.30-10 region with stops below 109.00, whilst offers are noted at 109.90-110.00 and then 110.10-20 with stops above there.

 

[AceTRaderForex]

AceTraderFx Apr 22: Intra-Day News and Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
22 Apr 2016 01:25GMT

USD/JPY - ...... The greenback ratcheted lower after an initial gain to 109.90 in Australia on Thursday and fell to 109.33 in New York on cross-buying in yen, then marginally lower to 109.26 in Tokyo morning on Friday.

Today, the research firm Markit will release its indicator for U.S. business conditions in the manufacturing sector at 13:45GMT. Market expects the flash reading for Apr to improve to 52.0 from 51.5 in preceding month.

At present, offers are noted at 109.40-50 and more at 109.60-70 with stops above 109.90, whilst bids are reported at 109.10-00 and then 108.90-80 with stops below 108.70.

Data to be released on Friday:

Japan Nikkei manufacturing PMI, France Markit manufacturing PMI, Markit service PMI, Germany Markit manufacturing PMI, Markit service PMI, IFO-current assessment, IFO-business climate, IFO- expectations, Eurozone Markit manufacturing PMI, Markit service PMI, Italy industrial orders, industrial sales, retail sales, Canada retail sales, CPI, U.S. Markit manufacturing PMI and Markit service PMI

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Apr 2016 07:30GMT

EUR/USD - 1.1295... International lenders and Greece have made progress in their talks on Athens' reform efforts, but discussions will not be concluded on Friday, according to comment by German FinMin Wolfgang Schaeuble.
He added that the focus was on Athens implementing its bailout agreement rather than on debt relief.
His replied when asked about debt relief, "If Greece implements what was agreed last year - and we're working on that - then there will be no need to discuss this topic" .

While Eurogroup head Dijsselbloem said that they do not expect a deal on Greece today, and that if there are more politicians refrain from comments on the ECB the better the bank can do its job. And he continued to say that the Euro zone needs deposit insurance scheme to finish banking union, and there is also the need to discuss banks' exposure to sovereign bonds. If Euro zone ministers make progress on content of Greece programme, they can discuss Greek debt sustainability.

German FinMin Schaeuble said that Troika has made progress on Greece, but we won't be able to conclude discussions on Greece today and that he is not that pessimistic that they can't reach agree an agreement, and debt relief for Greece is not in the foreground, but rather the implementation of agreement.

 

[AceTRaderForex]

AceTraderFx Apr 25: Intra-Day News and Views (USD/JPY)

Intra-Day Market Moving News and Views
25 Apr 2016 02:12GMT

USD/JPY - ...... Although dlr extended Friday's spectacular rally and rose marginally higher above 111.83 (Friday New York) to 111.91 ahead of Asian open today, profit-taking together with intra-day fall in Nikkei knocked price down to 111.15 in Tokyo morning.

Today, U.S. will release the New Home Sales report at 14:00GMT. Market expects the data to be 0.527 mln units in March compare to 0.512 mln units in preceding month.

Lack of follow-through buying n subsequent intra-day weakness in Asia suggests consolidation with mild downside bias would be seen ahead of European open but recent broad-based strength in usd suggests buying on dips in anticipation of another upmove later today is recommended.
At present, initial offers are noted at 111.30-40 and more at 111.50-60 with stops above 111.80, whilst bids are reported at 111.10-00 and then 110.90-70 region with stops below 110.60.

 

[AceTRaderForex]

AceTraderFx Apr 25: Intra-Day Market Moving News and Views

Intra-Day Market Moving News and Views
25 Apr 2016 09:00GMT

GBP/USD - ..... Although the pound jumped at Monday open and climbed to a near 3-week high of 1.4475 in thin trading conditions due to closure of New Zealand & Australia for ANZAC day holiday as short-term specs bought the pound broadly after U.S. President Obama made an appeal to Britons to remain in the EU over the w/end, lack of follow-through buying quickly led to long liquidation, cable retreated to 1.4422 before recovering to 1.4457 at European open but only to weaken further to 1.4403.

Intra-day rebound suggests sideways trading is in store ahead of release of U.K. CBI trends order for April, street forecast is look for a reading of -15 vs previous reading of -14.

Offers are tipped at 1.4445/55 and more above with stops touted above 1.4480.
Bids are noted at 1.4405-00 with stops below there.

 

[AceTRaderForex]

AceTraderFx Apr 26: Intra-Day News and Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
26 Apr 2016 01:12GMT

USD/JPY - ....... Although price retreated after an initial rise to a fresh 3-week peak at 111.91 ahead of Asian open yesterday, renewed selling in yen contained intra-day weakness at 110.84 at New York open and price later recovered to 111.33 before edging lower to 110.96 in Tokyo morning on Tuesday.

Today's focus for the greenback will be on the release of U.S. durable goods orders and U.S. consumer confidence at 12:30GMT and 14:00GMT respectively. Market expects the U.S. durable goods orders in March to turn back into positive territory at +1.8% compare to -3.0% in preceding month, whilst consumer confidence to drop slightly to 96.0 in April from 96.2 in previous reading.
In addition, the Federal Reserve's Open Market Committee will start its regular monthly meeting today and announce its latest monetary policy decision n statement in New York afternoon on Wed.

At present, bids are reported at 111.00-110.90 and more at 110.80-70 with mixture of bids and stops at 110.60-40 region.
On the upside, offers are noted at 111.40-50 and then 111.60-70 with stops above 111.90.

 

[AceTRaderForex]

AceTraderFx Apr 27: Intra-Day News and Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
27 Apr 201601:12GMT

USD/JPY - ...... Dlr rebounded after a brief selloff to 110.67 in European morning yesterday due to renewed broad-based selling in yen on improved risk appetites. Later, price ratcheted higher to 111.47 in o/n New York before retreating to 111.14 shortly after Asian open on Wednesday.

Today, investors should pay attention to the release U.S. Pending home sales and U.S. trade balance for March in New York morning, then the announcement of latest Fed's monetary policy and statement in New York afternoon (18:00GMT and 18:30GMT respectively). Having said that, the FOMC is expected to leave its benchmark rate unchanged in a range of 0.25% to 0.50% n with virtually no expectations for a rate increase, and no press conference or economic projections, it could be one of the most low-key Fed events.

At present, bids are noted at 111.10-00 and more 110.90-80 with stops below 110.60, whilst offers are reported at 111.30-40 and then 111.60-70 with stops above 111.90.

 

[AceTRaderForex]

AceTraderFx Apr 27 Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
27 Apr 2016 13:21GMT

GBP/USD - ...... The British pound proved quite tricky to trade today as despite initial sharp rebound to 1.4622 in early European morning, price tumbled to 1.4547. However, cable swiftly pared its losses n recovered to 1.4620 in European morning b4 retreating again on cross-selling of sterling especially vs euro.

Mkt focus is now Fed's rate decision later today, traders will be looking at the policy statement closely for hints on when the central bank wud hike its rate next.

Offers are now seen at 1.4590/00 n more abv at 1.4610/20 with stops building up abv there whilst initial bids are noted at 1.4520/30, suggesting further choppy trading wud be seen.