AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Feb 2019 03:00GMT

USD/JPY - 110.48.. Dlr hits 6-week high of 110.54 in active Tokyo trading as rise in U.S. Treasury yields and intra-day gain in the Nikkie (N225 currently up over 2% at 20754) boosted risk appetite.

Yesterday's break of last week's high at 110.16 (now sup) together with dlr index (DXY) climbing to a new 2019 high (97.117) in New York suggests usd's recent winning streak would continue and price is en route towards 110.82 (61.8% of 114.55-104.79) and possibly towards next chart obj. at 111.40 later this week.
Therefore, buying the greenback on pullback is the way to go.
Bids are noted at 110.35-25 with stops below 110.00 whilst offers are tipped at 110.55/65 with stops above 110.85.

The only U.S. data due out is JOLTS job openings, however, Fed Chairman J. Powell will deliver at 17:45GMT but the topic is "Ecomomic Development in High Poverty Rural Communities", so traders can treat this to be a non-event.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Feb 2019 03:00GMT

USD/JPY - 110.60.. Despite usd's broad-based retreat in New York trading Tue on market's risk-on sentiment due to optimism over upcoming U.S./China trade talks (see early updates) together with rising U.S. yields and gain in the Dow, traders 'dumped' the safe-haven Japanese yen, leading to rally in eur/yen, gbp/yen and aud/yen (then nzd/yen today), the pair rebounded from 110.35 to 110.55 in New York trading.

D;r's intra-day rise to 110.64 in Asia as broad-based gains in Asian stocks (N225 currently up by 1.5% at 21195) boosted risk appetite and triggered another round of yen selling in Asian morning, suggesting upside bias remains for recent upmove to head to 110.82 retracement target (61.8% r of 114.55-104.79), however, weakening of upward momentum is expected to limit upside to 111.10/20.
Bids are noted at 110.45-35 with stops below 110.30 whilst offers are tipped at 110.60/65 with stops above 110.70/80.

On the U.S. data front, we have a slew of data due out starting with MBA mortgage applications, then January's MM and YY CPI n core CPI, real weekly earnings n Federal budget. We also have a number of key Fed officials speaking during N session (please refer to our EI section for details).

 

[AceTRaderForex]

AceTraderFx Feb 14: Intra-Day News and Views & data to be released today-USD/JPY

Intra-Day Market Moving News and Views
Update Time: 14 Feb 2019 03:00GMT

USD/JPY - 111.01.. Dlr orbited a new 6-week 111.00 handle in volatile Tokyo trading. Despite continuing its recent winning streak to a fresh 6-week high of 111.06 near New York close as the greenback regained traction in New York trading on the back of rising US treasury yields and marginal gain in The Dow, selling by Japanese names (exporters) briefly knocked the pair to 110.87 in early Asian trading before renewed buying interest emerged and pushed price back up to 111.05.

Intra-day firmness suggests recent upmove remains in force n would head to 111.20/25 after consolidation, loss of upward momentum is likely to prevent strong gain and reckon daily res at 111.40 would cap upside.
Bids are noted at 110.85-75 with stops below 110.60 whilst offers are tipped at 111.05/15 with stops touted above 111.40.

On the data front, U.S. will later release weekly jobless claims, final PPI, core PPI, retail sales and business inventories. We also have Philly Fed President Harker (non-voter) speaking at 16:00GMT.

 

[AceTRaderForex]

AceTraderFx Feb 15: Intra-Day News and Views & data to be released today-EUR/USD

Intra-Day Market Moving News and Views
Update Time: 15 Feb 2019 03:00GMT

EUR/USD - 1.1286.. The single currency swung wildly in hectic Thursday's session. Despite staging a recovery to 1.1295 in European morning, downbeat German GDP knocked price down to 1.1251, however, failure to penetrate Australian fresh 2-1/2 month trough at 1.1249 lifted price. Euro later jumped briefly to session highs of 1.1310 as a very weak U.S. retail sales data sent the greenback down across the board, however, selling eur/yen cross pushed price back down to 1.1265 before climbing to 1.1311 in Australia today.

As yesterday's erratic rise from 1.1249 suggests recent downtrend has made a temp. low, choppy sideways swings with upside bias is seen for a much-needed corrective rise, having said that, present gain is seen as a retarcement of recent decline, reckon res at 1.1341/44 should cap upside.
Bids are noted at 1.1280-70 with stops below 1.1245 whilst offers are tipped at 1.1310/15 with stops above there.

The euro area countries will release a slew of eco. data starting with Italy's trade balance,global trade balnace, then EU's trade balance. We have ECB's Coeure speaking at 13:00GMT n then ECB's Angeloni speaking at 15:45GMT later today.

 

[AceTRaderForex]

AceTraderFx Feb 18: Intra-Day News and Views & data to be released today-USD/JPY

Intra-Day Market Moving News and Views
Update Time: 18 Feb 2019 03:00GMT

USD/JPY - 110.50... The greenback found renewed buying in New Zealand at 110.40 after a retreat in late New York on comments from Fed's Daly and rebounded to 110.58 ahead of Tokyo open and continues to trade with a firm bias due to the initial rise in Nikkei index.

Dlr's early rebound from Friday's low at 110.26 suggests decline from last Thursday's 111.13 top has made a temp. low. therefore consolidation with mild upside bias would be seen.

Orderbook remains light as U.S. markets will be closed today for President's Day holiday.
Offers are now raised to 110.60/70 n more above at 110.80/90 with stops building up above there whilst initial bids are noted at 109.90/00.

 

[AceTRaderForex]

AceTraderFx Feb 19: Intra-Day News and Views & data to be released today-EUR/USD

Intra-Day Market Moving News and Views
Update Time: 19 Feb 2019 03:00GMT

EUR/USD - 1.1304... Although the single currency briefly penetrated yesterday's Asian high at 1.1325 to 1.1334 in Europe, lack of follow-through buying triggered profit-taking and price dropped to 1.1302 in holiday-thinned North American session before stabilising.
However, euro met renewed selling at 1.1316 and retreated again in Asian morning on usd's broad-based rebound.

Euro's retreat from yesterday's high at 1.1334 signals upmove from Friday's low at 1.1324 has made a temp. top, therefore choppy trading with mild downside bias would be seen.
Bids are now lowered to 1.1280/90 and more below at 1.1260/70 with stops building up below there whilst offers are noted at 1.1340/50.

There is a slew of eco. data from the euro region today but one must pay particular attention to release of Germany ZEW economic sentiment n current conditions at 10:00GMT.

 

[AceTRaderForex]

AceTraderFx Feb 20: Intra-Day News and Views & data to be released today-USD/JPY

Intra-Day Market Moving News and Views
Update Time: 20 Feb 2019 03:00GMT

USD/JPY - 110.85... Despite the greenback's retreat from yesterday's European high at 110.82 to 110.50 in New York afternoon due to a drop in U.S. Treasury yields, renewed buying at Tokyo open today pushed price higher and usd penetrated said 110.82 res to 110.89 in Asian morning on active cross-selling in JPY.

Dlr's intra-day break of 110.82 signals rise from Friday's low at 110.26 to retrace decline from last Thursday's peak at 111.13 has resumed, therefore consolidation with upside bias is retained.
However, said 111.13 res should hold on 1st testing ahead of today's FOMC minutes release.

BoJ's Governor Kuroda comments yesterday pressured the yen lower across the board and he is set to speak again in the Japanese Parliament at 05:30GMT. Traders should expect more yen jawboning after today's weak Japan exports data.

Bids are now seen at 110.60/70 and more below at 110.40/50 with stops building up below there whilst initial offers are noted at 111.10/20.

 

[AceTRaderForex]

AceTraderFx Feb 21: Intra-Day News and Views & data to be released today-USD/JPY

Intra-Day Market Moving News and Views
Update Time: 21 Feb 2019 03:00GMT

USD/JPY - 110.71... The greenback went thru a roller-coaster session yesterday as despite initial rise to 110.95 in European morning, price dropped to 110.63 in New York afternoon. Dlr then rebounded on the release of slightly less-dovish FOMC minutes to 110.90 near New York closing, however, failure to penetrate 110.95 triggered profit-taking n price retreated again at Tokyo open.

The minutes of Fed's latest policy meeting said the U.S. economy and the labour market remained strong, pushing investors to believe the central bank cud hike its rates at least once more this year.

Pay attention to the release of U.S. durable goods data at 13:30GMT and Atlanta Fed President Bostic's speech on economic outlook and monetary policy at 13:50GMT.

Bids are now seen at 110.50/60 and more below at 110.30/40 with stops building up above there whilst initial offers are noted at 111.30/40, suggesting choppy trading with upside bias would be seen.

 

[AceTRaderForex]

AceTraderFx Feb 22: Intra-Day News and Views & data to be released today-EUR/USD

Intra-Day Market Moving News and Views
Update Time: 22 Feb 2019 03:00GMT

EUR/USD - 1.1335.. Trading the single currency yesterday proved to be tricky (for intra-day players) as price swung sideways inside 1.1321-1.1366 range.

Despite initial weakness to 1.1321 at European open, price rebounded to 1.1363 on short squeeze but only to fall back to 1.1322/23 after weak EU PMI data, however, failure to penetrate intra-day 1.1321 low lifted euro.
Price later climbed to session highs of 1.1366 after soft U.S. data but only to fell back to 1.1323 as usd regained caught a bid in New York afternoon partly on rising U.S. yields.

Yesterday's retreat from 1.1366 to 1.1323 suggests further choppy trading below Wednesday's near 2-week high at 1.1372 would continue n there is market chatter of stops below 1.1320, so selling on recovery is favoured.
Offers are noted at 1.1350/60 with stops reported above 1.1380 and more above 1.1400.

We have a slew of euro area eco. data due out in European morning, pay attention to release of key German Ifo data, expect selling to emerge if actual readings come in below street forecasts. We have a no. of ECB officials speaking at various venues but pay attention to ECB Presient Drgahi's speech in Italy at an event at 15:15GMT.

 

[AceTRaderForex]

AceTraderFx Feb 25: Intra-Day News and Views & data to be released today-EUR/USD

Intra-Day Market Moving News and Views
Update Time: 25 Feb 2019 03:00GMT

EUR/USD - 1.1347... Although the single currency dropped to 1.1325 in Australia today, price found renewed buying and gained to 1.1350 in Asian morning due to improved risk appetite after productive U.S.-China trade talks n continues to trade with a firm bias.

Euro's intra-day strength suggests pullback from last Wed's high at 1.1372 has possibly ended at 1.1316 Friday and upmove from Feb's trough at 1.1234 would resume after consolidation but loss of momentum should keep price below 1.1402 and yield retreat.

Orderbook remains light in the absence of economic data from eurozone today with offers seen at 1.1390/00 and more above at 1.1420/30 with stops building up above there whilst initial bids are noted at 1.1320/30, suggesting further choppy sideways swings are envisaged.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Feb 2019 03:00GMT

USD/JPY - 110.99... The greenback took a breather after yesterday's spectacular rally and retreated at Asian open to 110.97 in Tokyo morning. Dlr ratcheted higher in Europe yesterday and intra-day ascent accelerated at New York midday n rose to session highs at 111.23 on broad-based selling in JPY on improved risk appetite. However, lack of follow-through buying triggered profit taking and price retreated.

Dlr's break of Feb's 6-week peak at 111.13 signals erratic upmove from January's trough at 104.79 has once again resumed, therefore consolidation with upside bias is retained.
Bids are now seen at 110.80/90 and more below at 110.60/70 with stops building up above there whilst initial offers are noted at 111.40/50.

Markett focus is now on Fed Chairman Powell's testimony before the Senate Banking Committee at 15:00GMT. In the wake of recent weaker-than-expected U.S. eco. data, traders are looking for hints on whether then central bank will consider any rate hikes this year, and if so, how many.

 

[AceTRaderForex]

AceTraderFx Feb 27: Intra-Day News and Views & data to be released today-EUR/USD

Intra-Day Market Moving News and Views
Update Time: 27 Feb 2019 03:00GMT

EUR/USD - 1.1383... The single currency found renewed buying in New York yesterday at 1.1346 after failure to penetrate European sup at 1.1345 n rallied in tandem with strong to session highs at 1.1402 in New York afternoon due to usd's broad-based weakness. However, lack of follow-through buying triggered profit-taking n price retreated to 1.1381 in Asian morning n continues to remain under pressure.

Euro's rise above prev. res at 1.1372 to 1.1402 yesterday signals upmove from February's low at 1.1234 has once again resumed and consolidation with upside bias remains for 1.1440/50.
Bids are now seen at 1.1370/80 and more below at 1.1350/60 with stops building up below there whilst initial offers are noted at 1.1450/60.

There is a slew of eco. data to be released from the euro area today. Pay particular attention to the release of EU business climate, economic sentiment n industrial sentiment at 10:00GMT.

 

[AceTRaderForex]

AceTraderFx Feb 28: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 28 Feb 2019 03:00GMT

USD/JPY - 110.89... The greenback came under selling pressure in Australia n retreated to 110.82 in Tokyo morning due to the early drop in Nikkei-225 index. Dlr rallied spectacularly yesterday from European low at 110.36 to session highs at 111.07 on rising U.S. Treasury yields together with caution over US/China trade talks.

Dlr's rally yesterday suggests pullback from Monday's high at 111.23 has ended at 110.36 and despite intra-day retreat, as long as sup at 110.67 holds, upside bias is retained.
Bids are now lowered to 110.70/80 with stops building up below there whilst initial offers are noted at 111.30/40.

There is a slew of U.S. eco. data due today but one should pay particular attention to the release of U.S. GDP at 13:30GMT. Street forecasts see the economy expanding at a slower rate of 2.3% vs previous reading of 3.4%.

 

[AceTRaderForex]

AceTraderFx Mar 01: Intra-Day News and Views & data to be released today -USD/JPY

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

USD/JPY - 111.63... The greenback took a breather after yesterday's rally to a fresh 2-month peak at 111.49 in late New York on upbeat U.S. GDP together with rising U.S. Treasury yields. However, dlr found renewed buying at 111.33 at Tokyo open n rose above said high in Asian morning to 111.68 on Fed's Powell's comments together with improved risk appetite after the release of upbeat China manufacturing PMI.

Intra-day rise above yesterday's high at 111.49 signals upmove from Jan's trough at 104.79 remains in progress and consolidation with upside bias remains. Bids are now seen at 111.40/50 and more below at 111.10/20 with stops building up below there whilst initial offers are noted at 112.00/10.

Pay attention to the release of U.S. ISM manufacturing PMI at 15:00GMT. Street forecast is for a drop to 55.5 fm prev. reading of 56.6.

 

[AceTRaderForex]

AceTraderFx Mar 04: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 04 Mar 2019 03:00GMT

USD/JPY - 111.98... The greenback has rebounded again ahead of Tokyo open on renewed optimism over US/China trade talks after opening lower and retreating to 111.73 (Reuters) in New Zealand. Dlr continues to trade with a firm bias in Tokyo morning on risk appetite after a report in the Wall Street Journal on Sun said that US n China could reach a formal agreement at a summit around March 27.

Intra-day firmness suggests consolidation with upside bias remains and above Friday's high at 112.07 would extend upmove from January's low at 104.79 towards 112.24/30 later.
Bids are now seen at 111.70/80 and more below at 111.50/60 with stops building up below there whilst initial offers are noted at 112.40/50.

U.S. will release construction spending MM for Dec at 15:00GMT. Street forecast is 0.2%, down from previous reading of 0.8%.

 

[AceTRaderForex]

AceTraderFx Mar 05: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 05 Mar 2019 03:00GMT

USD/JPY - 111.82... Although the greenback met renewed selling at 111.98 in New York morning yesterday and dropped to 111.64 in New York afternoon on active cross-selling in JPY, price pared its losses n rebounded to 111.94 in Tokyo morning today on usd's strength n continues to trade with a firm bias.

Dlr's rebound from yesterday's low at 111.64 suggests pullback from last Fri's high at 112.07 has ended and consolidation with upside bias remains for recent upmove from 104.79 (Jan) to resume and yield re-test of said res, therefore buying on intra-day dips is the favoured strategy with bids now seen at 111.65/75 with stops building up below there whilst initial offers are noted at 112.30/40.

Pay attention to the release of U.S. ISM Non-manufacturing PMI at 14:45GMT.
Street forecast is for an uptick to 57.2 from previous reading of 56.7.
Elsewhere, Minneapolis Fed President Neel Kashkari is set to give a testimony on "State Economic Conditions and an Overview of the Minneapolis Fed" before the Minnesota Senate Finance Committee, in St. Paul at 14:30GMT.

 

[AceTRaderForex]

AceTraderFx Mar 06: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 06 Mar 2019 03:30GMT

EUR/USD - 1.1300.. The single currency met renewed selling at 1.1340 (Reuters) ahead of New York open and resumed its recent losing streak, hitting a low at 1.1290 in New York afternoon due to usd's strength together with cross-selling of euro especially vs sterling.
However, price then staged a short-covering rebound to 1.1319 in Australia before retreating again.

Euro's fall to 1.1290 yesterday suggests downtrend from last Thursday's high at 1.1420 has resumed and consolidation with downside bias remains for another decline but initial bids at 1.1260/70 and 1.1240/50 should contain current fall and yield rebound later.

Pay attention to the release of U.S. ADP employment at 13:15GMT.
Street forecast is a for a drop in the private sector to 189k from previous reading of 213k.

 

[AceTRaderForex]

AceTraderFx Mar 07: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 07 Mar 2019 03:30GMT

EUR/USD - 1.1306... The single currency proved quite tricky to trade yesterday as despite initial gain to 1.1310 in early Europe, price spiked down to a 2-week trough at 1.1286 at New York open on upbeat U.S. ADP data and a Bloomberg report that said the ECB would reduce its outlook on inflation n is in discussions on a new loan program.
However, lack of follow-through selling triggered short-covering and price rallied to 1.1326 (Reuters) at New York midday before retreating again.
Euro met renewed selling at 1.1316 at Asian open and continues to ratchet lower in Asian morning today.

Euro's retreat from 1.1326 after rally from 1.1286 suggests the recovery has ended there and consolidation with downside bias remains for decline from last Thursday's peak at 1.1420 to resume.
Offers are now seen at 1.1310/20 and more above at 1.1330/40 with stops building up above there whilst initial bids are noted at 1.1240/50.

Mkt focus is on the ECB today. Although no change is expected in its interest rate (0.00%), traders shud keep an eye on President Mario Draghi's press conference at 13:30GMT for his outlook on inflation and rates.

 

[AceTRaderForex]

AceTraderFx Mar 08: Intra-Day News and Views & data to be released today -USD/JPY

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

USD/JPY - 111.50... Although the greenback briefly spiked up to session highs at 111.86 at New York open yesterday, price dropped to session lows at 111.48 on risk-averse buying in JPY before staging a rebound to 111.69 near New York closing.
However, dlr met renewed selling at Asian open today and dropped sharply to 111.45 in Tokyo morning due to the the selloff in Nikkei-225 (currently down by 325 points or 1.51%) and China stocks (Shanghai Comp. down 2.5%) and continues to remain under pressure.

Usd's intra-day break of yesterday's low at 111.48 suggests decline from Tuesday's 10-week peak at 112.14 remains in progress and marginal weakness is seen, however, bids at 111.30/40 and more below at 111.20/30 should contain downside and yield rebound later.

Market focus is on the release of U.S. jobs report at 13:30GMT. Street forecasts for NFP and average earnings mm are 180k and 0.3% vs previous readings of 304k and 0.1% respectively.

 

[AceTRaderForex]

AceTraderFx Mar 11: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 11 Mar 2019 03:00GMT

USD/JPY - 111.10... Dollar remained under pressure in early trading today n dropped to session lows at 110.88 at Asian open on risk-averse buying in JPY, however, failure to penetrate Friday's post-NFP low at 110.79 triggered short-covering and the greenback staged a rebound to 111.12 in Tokyo morning. Price showed muted reaction to Fed Chairman Powell's comments earlier, where he reiterated that the central bank will remain patient in it's rate-setting policy.

Usd's intra-day weakness after Friday's fall to 110.79 suggests decline from last Tuesday's 10-week peak at 112.14 has resumed, therefore consolidation with downside bias is envisaged.
Offers are now seen at 111.20/30 and more above at 111.50/60 with stops building up above there whilst initial bids are noted at 110.30/40.

Pay attention to the release of U.S. retail sales and retail sales ex-autos at 13:30GMT.
Street forecasts are 0.1% n 0.3%, up from previous readings of -1.2% n -1.8% respectively.