AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 107.91.. Dlr remains on the back foot in Asian morning after yesterday's sellfof from 109.00 (Asia) to as low as 107.98 due to renewed usd's broad-based weakness triggered initially by intra-day jump in eur/usd in New York morning, then later, release of dovish FOMC minutes n market has scaled back expectation of one rate hike in 2019 from previous 2 increases.

Despite initial recovery to 108.26 at Tokyo open, release of soft China inflation data which led to weakness in Asian stocks and intra-day flat in the commodity currencies triggered renewed safe-haven yen buying and pressured to 108.85. Yesterday's decline confirms upmove from last Thursday's 9-month bottom at 104.79 has made a temp. top at 109.09 (Tuesday) and stronger correction toward 107.39 (38.2% r) is now envisaged after consolidation.
Offers have been lowered to 108.25/35 with stops above 108.50.
Some bids are noted at 107.85/80 with stops below 107.50.

U.S. will release a slew of eco. data later today (please refer to our EI section for details. Pay attention to speeches by a no. of Fed officials and in particular to Fed Chair J. Powell's before the Eco. Clun of Washington at 17:45GMT.

 

[AceTRaderForex]

AceTraderFx Jan 11: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1518.. Euro pares yesterday's sharp decline in relatively subdued Asian morning after Thursday's selloff from an 11-week peak of 1.1570 to as low as 1.1485 in New York.

Despite extending this week's gain to 1.1570 in Asia on Thursday, broad-based profit taking in active European morning knocked price down to 1.1518. Euro staged a bounce to 1.1545 at New York morning before intra-day decline resumed as usd caught a bid in New York trading, price later tumbled to session lows of 1.1485 following J. Powell's mildly hawkish comments.
Expect range trading above 1.1485 to continue until European open, however, as yesterday's near term reversal from 1.1570 suggests recent upmove has made a temp. top at 1.1570, below 1.1485 would yield correction towards 1.1340 (being a min. 38.2% r of the entire rise from 1.1216).
Offers are tipped at 1.1535/45 with stops above there.
Bids are noted at 1.1495/85 with stops touted below there.

Eco. calendar in the euro area countries is pretty light with Italy's industrial production n EU's ZEW eco. sentiment index being the only data due out. We have ECB Board member Mesch delivering a speech in Bratislava at 08:20GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 108.41.. Dlr moves relatively narrowly in subdued Asian trading (Japanese financial markets are closed for Coming-of-age holiday) after Friday's rally from 108.15 to 108.60 in hectic New York morning due to renewed usd's strength triggered by intra-day selloff in the eur/usd.

Although price edged higher to 108.57 in New Zealand on renewed weakness in eur/usd, selling interest at 108.60 capped intra-day gain and price has inched lower in Asian morning, indicating range trading is in store until European open, anticipated usd's strength suggests buy the greenback on dips is favoured.
Bids are noted at 108.25-15 with stops below 108.00.
Offers are tipped at 108.55/60 with stops above there.

U.S. eco. calendar is very thin today and a slew of data may be released (delay due to govt. shut down).

 

[AceTRaderForex]

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

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

USD/JPY - 108.45.. Dollar rises in lively Asian trading on Tuesday's morning due to broad-based yen-selling as positive statement from China state planner has boosted risk sentiment.

Despite intra-day gain, broad outlook remains consolidative as early decline from last week's 109.09 high to 107.77 (Thursday) signals recent upmove has made a temp. top and subsequent daily sideways swings suggest range trading is in store with near term upside bias.
Bids are noted at 108.15-00 area with stops below 107.95 whilst offers are tipped at 108.55/60 with stops above 108.75, more stops are reported above 109.10.

On the U.S. eco. releases later today, we have a slew of data which may include or exclude durable goods due to day because of govt. shutdown. Please refer to our EI section for details. Pay attention to speeches by Fed's Kashkari, Fed's George and Fed's Kaplan

 

[AceTRaderForex]

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

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

USD/JPY - 108.47.. Dollar pares overnight gain in choppy Asian trading on Wednesday as broad-based weakness in Asian equities led to renewed yen buying.

The pair rose initially from 108.14 (AUS) on Tuesday to 108.75 in Asia n despite intra-day cross-inspired retreat to 108.34 ahead of New York open, intra-day selloff in cable and eur in New York morning led to broad-based usd's strength and price hit session highs of 108.76 before retreating briefly to 108.38 due to jump in cable.
As dlr's early erratic rise from 107.77 to 108.76 yesterday signals correction from last week's high at 109.09 has ended, consolidation with upside bias remains for re-test of said res level.
Bids are noted at 108.40-35 with stops below 108.30 and more stops are reported below 108.00.
Offers are tipped at 108.70/75 with stops above 109.10.

Eco. calendar in the U.S. is very heavy as many data will be released due to U.S. govt. shutdown, please refer to our EI section for details, pay attention to retail sales at 13:30GMT n then factory order, then last but not least, Fed's Beige Book.

 

[AceTRaderForex]

AceTraderFx Jan 17: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1391.. Euro gains respite in subdued Asian trading after yesterday's resumption of recent decline to an 11-day trough of 1.1377 in European morning following Tuesday's downbeat German data n partly to downbeat comments by ECB President Draghi who said on Tue recent economic developments in the euro zone have been weaker than expected and uncertainties, notably related to global factors, remain prominent.

The intra-day rebound from 1.1377 to 1.1412 in NY session yesterday suggests range trading is in store in Asia n mild upside bias is seen for a minor recovery towards 1.1427 b4 decline from Jan's 11-week peak at 1.1570 heads to 1.1351 (this is 61.8% r of the Medium Term rise from 2018 low at 1.1216 made in Nov). Therefore, whilst selling euro on recovery is favoured, profit should be taken on next leg of decline as risk has increased for a rebound to take place later today or tom.
Bids are noted at 1.1385-75 with stops below 1.1370 and offers are tipped at 1.1415/25 with stop above 1.1440 n more above 1.1460.

The euro area countries will release a slew of eco. data starting with Italy's trade bal n global trade balance, then EU's constriction output, HICP n core HICP. ECB Governing Council Board member Couere will speak sometime during Asian session at the G20 FinMin n central banking governors depuites meeting in Tokyo. ECB's Lautenschhlager will speak at a conference in Dublin at 11:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 109.33.. Despite initial retreat to intra-day low at 109.06 ahead of Tokyo open on selling by Japanese exports after dlr's o/n gain to a fresh 2-week high of 109.39 in New York afternoon due to US/China trade optimism but later denied (see early update), the greenback rose again at Tokyo open as broad-based gain in Asian stocks n rise in U.S. treasury yields (benchmark 10-year climbed to 2.761% Thursday after upbeat US jobless claims and Philly Fed survey).

Yesterday's break of Wednesday's 109.19 high signals recent upmove from January's 9-month bottom at 104.79 has once again resumed n gain towards Jan's 109.75 high may be seen after consolidation, reckon 110.00 would cap upside. So whilst buying dlr again on dips is favoured, profit should be taken on subsequent rise.
Bids have been raised to 109.10/00 with stops below 108.90 whilst offers are tipped at 109.35/45 with stops above 109.80.

T.G.I.F., U.S. will release a slew of eco. data starting with industrial and maf. production, capacity utilization and University of Michigan consumer confidence (key retails sales may come out or continued to be delayed due to govt. shut down).
We also have Fed's Williams and Fed's Harker speaking in New York morning.

 

[AceTRaderForex]

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

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

USD/JPY - 109.61.. Dlr pares Friday's rally to a 2-1/2 week high of 109.88 (New York) and retreated to 109.48 in Tokyo morning on broad-based yen buying by Japanese exporters after the pair climbed above previous January's high at 109.75 (Jan 02) in New York due to usd's broad-based strength on market optimism over upcoming U.S./China trade talks.

Although intra-day retreat suggests recent upmove has made a temp. top at 109.88 and range trading is in store, as price has rebounded from 109.48 after release of in-line China GDP and retail sales data, easing recent market fear of a continued slowdown in the Chinese economy, consolidation with upside bias is retained.
Bids are noted at 109.50/40 with stops reported below 109.35.
Offers are tipped at 109.75/85 with stops touted above 110.00.

As U.S. market is closed for Martin Luther King Jr. holiday, expect trading activity to be quiet in North American time zone.

 

[AceTRaderForex]

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

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

USD/JPY - 109.62.. The pair is trading near the same rate as it was this time 24 hours after moving sideways in lethargic Monday's session.
Despite initial weakness to 109.48 in early Asian trading on Monday due to profit taking, renewed buying interest emerged n lifted price to 109.71, however, dlr later moved narrowly inside this range in Europe n holiday-thinned N. American session.

Expect further range trading below Fri's 2-1/2 week high at 109.88 n outlook remains mildly bullish for recent upmove to head towards 110.00 but reckon 110.48 res should cap upside.
Bids are noted at 109.50-40 with stops below 109.35.
Offers are tipped at 109.75/85 with stops reported above 110.00.

U.S. market will re-open after yesterday's market holiday, however, eco. calendar is pretty thin with existing home sales being the only data due out.
However, we may see release a slew of delayed data due to govt. shutdown today or later this week.

 

[AceTRaderForex]

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

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

USD/JPY - 109.67.. Despite dlr's broad-based weakness vs majority of its major peer currencies, dlr/yen rallies in Tokyo trading due to active yen-selling vs usd, euro, gbp and aud etc.
The broad-based yen selling despite weakness in Asian equities is pretty bewildering especially after dlr/yen's brief drop to session lows of 109.15 in New York afternoon on FT report the Trump administration has rejected an offer from China for preparatory trade talks this week ahead of high-level negotiations scheduled for next week (but the report was later rejected by White House economic adviser Larry Kudlow).

Intra-day yen weakness ahead of BoJ's rate decision and monetary policy announcement suggests something may be brewing, perhaps BoJ may tweak its policy stance in its accompanied statement later, therefore, trading dlr from long side (or yen from short side) is favoured.
Bids are noted at 109.60-50 with stops below 109.30.
Offers are tipped at 109.70/75 with stops reported above 110.00.

Pay attention to BoJ's Gov Kuroda's post-BoJ press conference at 06:30GMT. U.S. will release Redbook sales, monthly home price and Richmond Fed mfg index later today.

 

[AceTRaderForex]

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

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

USD/JPY - 109.49.. Although dlr is trading roughly where its was this time in Asian morning on Wed, the decline from yesterday's 3-week high at 110.00 (EBS high) to 109.40 in New York afternoon suggests recent upmove from January's fresh 20-month bottom at 104.79 has made a temp. top there and intra-day usd's weakness vs G4 counterparts signals consolidation with downside bias remains and stops below 109.40 are now in focus.

Therefore, selling dlr on recovery following weakness in U.S. stocks n soft Treasury yields is favoured.
Offers are tipped at 109.65/75 with stops above 109.80 n more above 110.00.
Bids are noted at 109.50-40 with stops below there, more stops are touted below 109.10.

On the U.S. eco. data, we have weekly jobless claims, Markit mfg and services PMIs and lastly, leading indicator.

 

[AceTRaderForex]

AceTraderFx Jan 25: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 109.77.. Despite yesterday's intra-day fall from 109.80 (Europe) to 109.43 in New York morning on active yen-buying, the pair rebouded in New York on renewed usd's strength. Price catches a bid in Asian trading due to broad-based yen weakness on rebound in Asian stocks, suggesting choppy sideways swings are in store.

Dollar's anticipated strength vs G7 currencies (except sterling) suggests intra-day upside bias remains n stops above 109.80, then above Wednesday's 3-week highs are in focus.
Bids are noted at 109.50-40 with stops below there.

On the U.S. data front, although no official data is scheduled, we may get a delayed release of durable goods order due to recent govt. shutdown.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1414.. Although euro trades with a firm undertone in relatively subdued Asian morning after Friday's impressive rally from 1.1398 (AUS) to as high as 1.1419 near New York close due to broad-based usd's selling on return of risk appetite following news of an end of recent U.S. govt. shutdown, Asian traders are reluctant to take the euro higher after Friday's sharp gain due to risk of a 30-40 points pullback when European markets open, so range trading is expected for now.

Having said that, euro's rally from Thursday's 5-week trough at 1.1290 to 1.1419 Friday suggests recent decline from 1.1570 (January high) has made a low there and consolidation with upside bias remains for s stronger retracement of this move ahead of key U.S. 2-day FOMC meeting starting tomorrow where market widely expects the Fed to stand pat in its rate decision.
Order book is pretty thin with bids noted at 1.1390-80 and more below with stops below 1.1350.
Offers are tipped at 1.1420/30 with stops above 1.1455.

Although no euro area eco. data is due out today, pay attention to introductory statement by the ECB President Draghi at the ECON Hearing of the European Parliament in Brussels at 14:00 GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1421.. Euro inches lower in subdued Asian trading after rising to a 1-day high of 1.1445 in New York morning on usd's weakness, however, profit taking pushed price to 1.1418 in Asia today, suggesting range trading below said temp. high would be seen.

As euro's early impressive rally from Thursday's post-ECB's 5-week bottom suggests recent decline from Jan's 11-week peak at 1.1570 has made a low there, consolidation with upside bias remains for stronger retracement of this move to 1.1463 (61.8% r), however, weakening of upward momentum should cap price below res at 1.1491 today.
Bids are noted at 1.1410/00 with stop below 1.1385 whilst offers are tipped at 1.1445/55 with stops above there.

Euro zone eco. calendar is very light today with France's consumer confidence being the only data due out. We also have ECB member Villeroy speaking at a fintech conference in Paris at 10:30GMT n also ECB's Governing Council member Nowotny and other cenbankers are attending another fintech conference in Vienna.

 

[AceTRaderForex]

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

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

USD/JPY - 109.25.. Dlr remains on the back foot on renewed usd's weakness triggered by intra-day gain in aud/usd and a bout of yen buying, even the battered sterling has recovered after o/n selloff on renewed Brexit concerns.

Despite yesterday's rebound from Asian 109.13 low to 109.54 in New York morning, intra-day weakness has retained daily bearish prospect of a resumption of decline from last Wednesday's 3-week high to 109.85/90, reckon minor sup at 108.69 would hold on 1st testing ahead of FOMC monetary announcement.
Offers have been lowered to 109.40/45 with stop above 109.55, a mixture of bids and stops is touted below 109.15.

Ahead of key FOMC announcement at 19:00GMT, U.S. will release a slew of eco. data starting with Jan ADP private payrolls, Q4 GDP, Q4 core PCE and pending home sales.
Last but not least, pay attention to post-FOMC conference by Fed's J. Powell, any dovish remarks by the Fed chair will give usd another round of bashing as Fed is widely expected to stand pat in its rate decision.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 31 Jan 2019 03:20GMT

EUR/USD - 1.1495.. The single currency stands tall in Asian trading after rallying to a near 3-week high of 1.1502 in post-FOMC New York session.

Despite yesterday's intra-day retreat from 1.1450 in Europe after failure to re-test Tuesday's 1.1451 high and slipped to 1.1406 following release of robust U.S. ADP payrolls, short covering lifted the pair slightly and euro jumped after 'dovish' Fed minutes.
The fact that price is still trading near said yesterday's high suggests upside bias for further gain towards res at 1.1550 after consolidation but reckon January's 11-week peak at 1.1570 would remain intact ahead of Friday's U.S. NFP.
Bids are noted at 1.1480-70 with stops below 1.1450.
Offers are tipped at 1.1500/10 with stops above there.

The euro area will release a slew of eco. data (see EI section for details) which may move price during Euroepan morning but traders will be buying on dips if data come out weaker than street forecast. Also we have ECB's Mersch speaking at 10:15GMT n then ECB's Weidmann speaking at 16:00GMT.

 

[AceTRaderForex]

AceTraderFx Feb 01: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 01 Feb 2019 03:00GMT

USD/JPY - 108.87.. Dlr pares yesterday's losses in Asia due to intra-day usd's strength and recovered to 108.97 in early Tokyo trading as bargaining hunting by Japanese importers bought the greenback after price hit a 2-week low in New York morning on Thursday.

Despite resumption of recent decline from January's 110.00 high to 108.50 in New York yesterday, intra-day selloff in eur/usd triggered broad-based short covering in the buck, price rebounded to 108.94 in New York afternoon, then marginally to 108.97 in early Asian trading. As the rebound from 108.50 suggests temporary low has been made, range trading is in store in European morning, however, offers reported at 109.00/10 are likely to capped intra-day rebound and yield another fall later today.
For now, bids are noted at 108.70-60 with stops reported below 108.50, then 108.30.

All eyes are on the release of U.S. non-farm payrolls due out at 13:30GMT, market is expecting January reading to come in at 165K vs previous number of 312K, if actual figure comes in below estimate, then one can expect another round of usd bashing as this will confirm cautious (dovish) Fed statement released Wednesday on the U.S. economy.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1458.. Euro moves narrowly in subdued Asian morning following Friday's intra-day broad sideways swings in post-NFP New York trading.

Despite rebound from 1.1434 (Asia) to 1.1489 in New York, subsequent retreat suggests further choppy trading below last Thursday's 2-1/2 week high at 1.1515 would continue with downside bias and below 1.1434/30 would bring stronger retracement to 1.1406/10 later today, therefore, selling euro on recovery is favoured.
Offers are tipped at 1.1475/85 with stop above 1.1490 n then 1.1520.
Some bids are noted at 1.1445-35 with stops below 1.1430 and more below 1.1400.

On the eco. data front, EU will kick off with Sentix investor confidence index, then Italy's prel. CPI and the EU's PPI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Feb 2019 03:00GMT

USD/JPY - 109.70.. The pair is trading roughly where its was this time yesterday after Thursday's roller-coaster rise. Although dlr met renewed buying are 109.73 in Asia yesterday n climbed to 110.09 due to renewed usd's strength in Europe, active safe-haven yen buying quickly knocked price to session lows of 109.61 at New Yeat open. Although price shrugged off renewed U.S./China trade concerns after comments Trump that he did not plan to meet with Chinese President Xi before a March 1 deadline to achieve a trade deal n staged a rebound to 109.87 in NY afternoon, dlr edged lower in Asian trading on Fri due to renewed yen buying as the Nikkie is currently down by 1.3% are 20479 as well as falling U.S. Treasury yields.

Yesterday's decline from 110.09 suggests further choppy trading below Monday's 1-month peak at 110.16 would continue, as long as 109.56 (Wed's reaction low) holds, said sideways swings would end with resumption of recent upmove towards next daily obj. at 110.48 later.
Bids are noted at 109.65-60 with stops below 109.50 n more below 109.40.
Offers are tipped at 109.90/00 n more above with stops reported at 110.20.

T.G.I.G., although no U.S. economic data is due out, S. Francisco Fed President Mary Daily (non-voter) will participate in a moderated conversation at an economic forum in San Francisco at 18:15GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 109.83.. Dlr moves narrrowly in subdued Asian trading as financial markets in Japan are closed for National Foundation Day holiday.

The sideways move seen in lackluster Friday's session suggests dlr would continue to gyrate inside recent broad range of 110.16-109.56, however, as usd is expected to strength vs its G7 counterparts after counsolidation, trading the pair from long side is favoured.
Bids are noted at 109.70-60 with stops reported below 109.50.
Offers are tipped at 110.90/00 with stops touted above 110.20.

On the U.S. data front, no economic data is due out today, so range trading is likely to continue.
However, pay attention to latest progress in U.S./China trade talks. Media reported over the w/end lower-level officials will begin meetings on Monday, led on the American side by Deputy U.S. Trade Representative Gerrish. Higher principal-level talks will take place on Thursday and Friday with U.S. Trade Representative Lighthizer and Treasury Secretary Mnuchin.