AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

Intra-Day News and Views & data to be released today -USD/JPY

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

USD/JPY - 109.62.. Dlr moves relatively narrowly in subdued Asian trading after staging a rebound on Tue from 109.15 (AUS) to 110.77 in Europe due to active cross-unwinding of recent short yen positions on slight easing of U.S.-China trade tensions.

Reuters reported in New York afternoon U.S. Treasury Secretary Mnuchin will plan for another trade meeting in China at some point soon (see 22:05GMT update for details).

Looks like range trading will prevail in Asia, however, as the strong bounce from Mon's 3-month trough at 109.02 suggests recent downtrend has made a temp. low, consolidation with upside bias remains for a much-needed retracement to 109.90/00 later today.
Bids are noted at 109.50-45 with stops below 109.30 while offers are tipped at 110.70/80 with stops above 111.10.

On the data front, U.S. will release MBA mortgage applications, retail sales,industrial prod., capacity utilization, mfg output, bus. inventories n NAHB Housing Market index. Also, we have Ded Vice Chair for Supervision Quarles soeaking at 13:30GMT and Richmond Fed's President Barkin speaking at 17:00GMT.

 

[AceTRaderForex]

AceTraderFx May 16: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 16 May 2019 03:00GMT

EUR/USD - 1.1208.. Euro moves narrowly in subdued Asian morning after yesterday's rebound from 1.1178 to 1.1225 following news of Trump's auto-tariffs delay, however, as price later retreated to 1.1198 in New York afternoon, Asian traders are on the sidelined and would wait for reaction from their European counterparts later.

Despite the decline from this week's high at 1.1265 (Monday) to 1.1178 yesterday, subsequent bounce to 1.1225 suggests euro is likely to 'gyrate' inside recent 1.1265-1.1135 broad range and near term upside remains for another rise towards upper indicated level later today.
Bids are noted at 1.1200-1.1390 and more below with stops reported below 1.1175 and then below 1.1160.
Offers are tipped at 1.1220/25 with stops above 1.1250, then more are reported above 1.1270.

The euro area countries will release a slew of eco. data (pls refer to EI page for details). Today is the meeting of euro zone FinMins in Brussels n many key ECB officials will be participate in this event as well as making speeches, pay attention to speech by ECB Chief Economist Praet at at 07:30GMT n also comments by ECB President Draghi who will participate in the Eurogroup meeting.

 

[AceTRaderForex]

AceTraderFx May 17: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 17 May 2019 03:00GMT

EUR/USD - 1.1177.. The single currency is nursing loss in subdued Asian morning after hitting an 8-day low of 1.1167 in New York yesterday.

Despite staging a rebound to 1.1225 in European morning, failure to penetrate this Wed's high quickly triggered long liquidation n decline accelerated due to renewed Italy's budget deficit concerns, euro later tumbled to 1.1167 in New York afternoon as the greenback caught a bid after release of robust U.S. data n gain in U.S. stocks (DJI index closed up 0.84% at 25862).
Looks like consolidation with downside bias would be seen, as price is expected to remain confined inside recent 1.1265-1.1135 range, lower level would hold n may bring rebound later today if U.S. data miss forecast. In the meantime.
Offers are tipped at 1.1190/00 with stops above 1.1225/30 whilst bids are noted at 1.1170-60 with stops reported below 1.1135, there is market chatter of large stops building below April's 1.1112 bottom.

On the data front, the EU will release construction output, HICP n core HICP.
We have meeting of EU FinMin in Brussels today, so be on the look out for comments by some of them during European session.

 

[AceTRaderForex]

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

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

USD/JPY - 110.26.. Despite dlr's initial retreat from Asian 110.03 high to 109.50 at New York open on Friday, the greenback caught a bid after release of stronger-than-expected U.S. data (U.S. consumer confidence jumped to a 15-year high - May index came in at 102.4 vs forecast of 97.5) which triggered broad-based usd buying, price rallied to 110.18 before easing.

The pair opened at 110.12 in NZ n then climbed to intra-day high of 110.32 in Asian morning on renewed yen-selling and ignored further news on U.S.-China trade tensions (see early updates for details).
Although Friday's close above 110.00 confirms recent decline has made a temp. low at last Monday's 3-month trough at 109.02, overbought condition is likely to prevent further sharp gain n may yield strong retreat later today in European trading as the safe-haven yen may well get another round of buying on more negative U.S.-China trade talk news.
Offers are tipped at 110.40/50 with stops above 110.70.
Bids are noted at 110.00-109.90 with stops below 109.80 n more below 109.50.

Monday's U.S. eco. calendar is very light with Chicago Fed National Activity index being the only data due out at 12:30GMT. Pay attention to speech by Philly Fed President Harker at 13:30GMT. Also New York Fed's Williams n Fed Board Governor Clarida will participate in 2-hour "Fed Listens" Round table in New York at 17:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 110.17.. Despite dlr's retreat from Monday's 12-day high of 110.32 (Asia) to 109.81 at New York open due to intra-day fall in U.S. yields and usd's weakness, the pair later recovered to 110.06 ahead of New York close due to broad-based rebound in the greenback.

Dlr climbed back to 110.21 in early Asian trading on Tuesday on renewed yen-selling triggered by present rise in U.S. yields, suggesting re-test of 110.32 is likely to be seen but loss of upward momentum should cap price at 110.50/60 today. '
Bids are noted at 110.00-109.90 with stops below 109.80.
Offers are tipped at 110.25/30 with stops above 110.35 and more above 110.50.

Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans and Fed's Rosengren speaking later today.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1164.. Despite continuing its recent losing streak and hitting a marginal low of 1.1142 in European morning, intra-day brief but sharp rally in sterling lifted euro to session highs of 1.1188 in New York morning but the pair later retreated in tandem with subsequent selloff in cable.

Although euro's rebound from Tuesday's fresh 2-week low at 1.1142 suggests choppy trading above May's trough at 1.1135 would continue, above 1.1188 needed to signal recent decline from 1.1265 has made a low there n head back towards 1.1225.
Bids are noted at 1.1155-45 with stops below 1.1130, there is market chatter of large stops building up below 2019 22-month bottom at 1.1112.
Offers are tipped at 1.1180/90 with stops above 1.1200.

No eco. data is due out today, however, do keep an eye out on speeches by ECB President Draghi and ECB Chief Economist Praet at an ECB event in Frankfurt at 07:30GMT and 09:30GMT respectively.

 

[AceTRaderForex]

AceTraderFx May 23: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 23 May 2019 03:00GMT

EUR/USD - 1.1150.. Euro continues to move in familiar territory in directionless trading yesterday as sterling stole the limelight due to political turmoil in the U.K. and swung wildly in European morning as well as New York session.

Although euro caught a light bids in European morning n staged a rebound from 1.1148 to session highs of 1.1180 shortly after New York open, intra-day rebound in cable triggered broad based unwinding in short sterling positions n euro retreated to 1.1151 near New York close as eur/gbp cross fell from a fresh 3-month peak of 0.8839 to 0.8791.

Range trading is expected to continue ahead of European open and as long as this week's low at 1.1142 (Tuesday) holds, choppy trading with mild upside bias remains whilst break of May's 1.1135 trough would shift risk to the downside for re-test of 2019 22-month bottom at 1.1112 (April).
Bids are noted at 1.1150-1.1140 with stops below 1.1135 and there is market chatter of fairly large stops building up below 1.1100.
Offers are tipped at 1.1180/90 with stops above 1.1200.

Today is PMI day in the euro area countries, Germany will kick off with Q1 GDP, then France's bus. climate, Markit mfg and servcies PMIs, pay attention to release of the important Ifo business climate, current conditions n expectations indexes n lastly, EU's mfg and services PMIs.

 

[AceTRaderForex]

AceTraderFx May 24: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 24 May 2019 03:00GMT

EUR/USD - 1.1182.. Although the single currency remained on the back foot in Euroepan morning on Thur due to weak key German Ifo data as well as downbeat ECB minutes, price briefly penetrated previous 2019 low at 1.1112 (April to a 2-year bottom at 1.1108 but lack of follow-through selling quickly lifted price. The pair then continued to climb strongly due to usd's broad-based weakness caused by initial selloff in U.S. stocks and falling U.S. treasury yields, price later rallied to session highs of 1.1187 before moving narrowly in New York afternoon trading.

Yesterday's impressive rally from 1.1108 suggests recent downtrend has made a temp. low and consolidation with upside bias is seen with stops above 1.1190/00 now in focus, break there would encourage for stronger retracement towards 1.1225.
Bis are noted at 1.1155-50 and more at 1.1135 with market chatter of fairly large stops below 1.1100.

After yesterday's data dump from the euro area countries, no economic data is due out today.

 

[AceTRaderForex]

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

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

USD/JPY - 109.42.. The greenback pares Friday's weakness to an 8-day low at 109.28 (New York) and rebounded to 109.51 in Asia on Monday as broad-based marginal gain in Asian equities following recovery in U.S. stocks on Fri has triggered some yen-selling, suggesting range trading is in store until European open.

As dollar has reterated broadly after the usd index (DXY) hit a 2-year peak of 98.371 on Thursday, consolidation with downside bias remains and stops below May's 3-month low at 109.02 are now in focus.
Offers are tipped at 109.50/60 n more above with stops above 109.80.
Bids are noted at 109.30-20 and more below with stops below 109.00.

U.K. n U.S. markets are closed for Spring Bank holiday and Memorial Day respectively, so expect trading activity to wind down after European lunch session. Pay attention to BOJ Kuroda's speech at T20 Summit in Tokyo at 03:00GMT.

 

[AceTRaderForex]

AceTraderFx May 29: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 29 May 2019 03:00GMT

EUR/USD - 1.1168.. Trading the single currency proved to be trick on Tue. Despite initial weakness in Asia n then intra-day brief drop to 1.1176 in European morning, euro rebounded to 1.1198 and then swung sideways. The pair later fell after release of upbeat U.S. consumer confidence n hit session lows of 1.1160 near New York close.

Although price has staged a short-covering bounce in Asia, as long as 1.1198 holds, stronger retracement of upmove from last Thursday's 2-year bottom at 1.1108 to 1.1140/50 is likely before prospect of rebound later today.
Offers are tipped at 1.1175/85 with stops above 1.1200.
Bids are noted at 1.1160-50 with stops below 1.1120 and there bis market chatter of large stops below 1.1100.

The euro area countries will release a slew of eco. data during European morning n also we have a number of ECB officials scheduled to speak, please refer to our EI section for details.

 

[AceTRaderForex]

AceTraderFx May 30: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 30 May 2019 03:00GMT

EUR/USD - 1.1138.. Euro moves narrowly in subdued Asian morning after extending decline from this week's high at 1.1215 to a 6-day low of 1.1124 on Wednesday.

Despite initial recovery to 1.1173 at Asian open yesterday, price ratcheted lower to 1.1149 in European morning and price later hit session lows of 1.1124 as traders sold the euro broadly vs usd, yen, gbp and chf after report the European Commission sent on a letter to the Italian govt. asking for explanations about the deterioration of Italy's public finances.
The pair inched higher on short covering near New York close n rose to 1.1143 in Asian morning.

Although euro's weakness to 1.1124 suggests early correction from last Thursday's 2-year bottom at 1.1108 has ended, below 1.1100/08 needed to extend recent downtrend towards projected target at 1.1054 next week.
For now, offers are tipped at 1.1145/55 with stops above 1.1175.
Bids are noted at 1.1125-15 with large stops reported below 1.1100.

Many European centres are closed for Ascension Day holiday and with Germany, France and Switzerland are closed, trading may be quiet until New York open.

 

[AceTRaderForex]

AceTraderFx May 31: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 31 May 2019 03:00GMT

USD/JPY - 109.38.. The pair went through a roller-coaster rise in hectic trading on Thur. Although price met renewed buying at 109.48 at Tokyo open n climbed to 109.83 in holiday-thinned European morning, dlr later hit session highs of 109.93 due to broad-based usd's strength in New York morning, price quickly retreated on profit taking in the greenback n later fell back to 109.49.

Despite initial narrow trading in Australian, Trump's tweet on possible raising of tariffs on Mexico (see early updates for details) triggered a bout of safe-haven yen n Swiss franc buying, price fell to 109.23 before stabilising.
The Japanese yen is expected to remain bid as Euroepan traders may buy the yen on risk aversion when they come in, trading dlr from shorty side is favoured and stops below 109.00 are now in focus.
Offers are tipped at 109.45/50 with stops above 109.65.

T.G.I.F. but not yet for European and North American traders as U.S. will release a slew of data later today starting with key core PCE, PCE, personal income and spending, Chicago PMI and University of Michigan consumer confidence.
We also have Fed's Bostic and Williams speaking during New York morning session.

 

[AceTRaderForex]

AceTraderFx Jun 03: Intra-Day News and Views & data to be released today -USD/JPY

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

USD/JPY - 108.23.. The pair remains on the back foot in calmer trading on Monday n hit a near 5-month trough of 108.15 in Asian following following Friday's selloff from 109.63 (Australia) to as low as 108.28 near New York close due to active safe-haven yen buying throughout Friday's session after Trump's threat on Twitter to raise trade tariffs on Mexico substantially, traders flocked to yen n the Swiss franc on risk aversion.

Despite intra-day brief break of said Friday's low, oversold condition is likely to prevent steep fall and there is market chatter of usd demand by Japanese names (importers) at 108.00-107.90.
For now, offers are tipped at 108.35/40 and more at 108.55/60 with stops reported above 109.00.

Today is PMI day in the U.S., we have Markit mfg PMI, then construction spending n ISM mfg PMI.
We also have Fed Vice Chair for Supervision Quarles, Fed's Barkin and Fed's Bullard speaking in New York later today.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1247.. Euro remains on the front foot in Asian morning after staging a impressive rally from 1.1160 (Europe) to as high as 1.1262 in New York afternoon, thanks to broad-based usd's weakness after dovish comments by Fed's Bullard, however, offers at May's 1.1265 high checked intra-day gain.

Looks like Asian traders are reluctant to test euro's upside since 1.1265 has been seen by many as a rather strong res, so range trading is in store ahead of European open.
However, yesterday's resumption of recent upmove to a near 3-week high at 1.1262 suggests upside bias remains and stops above 1.1265 are now in focus.
Bids have been raised to 1.12135-25 wit stops below 1.1215.
Offers are tipped at 1.1260/65 with stops above there n more above 1.1305.

On the data front, France will kick off with trade balance, then Italy's unemployment n the same from the EU, then HICP.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 Jun 2019 03:00GMT

USD/JPY - 108.28.. Despite initial weakness to 108.19 in Australia due to safe-haven yen buying on media reports U.S.-Mexico trade talk ended on Wednesday in Washington without a deal, subsequent news that trade talk will resume on Thursday lifted the pair and dlr rebounded to 108.40 at Tokyo open.

Although yesterday's rally from a 6-month bottom at 107.82 at New York open after U.S. ADP private payrolls grew at its small pace in over 9 years, subsequent release of robust ISM non-mfg PMI triggered broad-based usd's rally and lifted price to 108.48 suggests recent downtrend has made a temp. low n choppy sideways swings are in store.
Bids are noted at 108.10-00 with stops below 107.75.
Offers are tipped at 108.40/50 with stops above there.

BOJ Gov. Kuroda will speak at financial conference in Tokyo at 08:25GMT. Ahead of Fri's key jobs report, U.S. will release weekly jobless claims, trade balance, labour costs n productivity. Also we have Fed's Kaplan n Fed's Williams speaking in NY session.

 

[AceTRaderForex]

AceTraderFx Jun 10: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 10 Jun 2019 03:30GMT

USD/JPY - 108.48.. The pair opened higher in New Zealand (108.54) as news of withdrawal of trade tariffs on Mexico by U.S. Trump which came after Fri's market close boosted risk sentiment n led to broad-based yen and chf selling.

Dlr briefly climbed above Friday's 108.61 (Europe) high to 108.67 (Reuters) before easing in relatively subdued Asian morning as Asian traders were reluctant to buy usd after Fri's release of much weaker-than expected U.S. payrolls, however, broad-based rebound in Asian stocks (N225 currently up 1.09%, Shanghai Composite up 1.16% n HSI up 2.23%) suggests yen is likely to be sold vs other G7 currencies.
Bids are noted at 108.30-20 with stops below 108.00, more buying interest is touted below 108.00 with stops reported below 107.75/70.

No major U.S. eco. data is due out after Fri's blockbuster NFP and the only data due out is JOLTS job openings.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 11 Jun 2019 03:30GMT

EUR/USD - 1.1314.. The single currency is trading roughly where it was in Asia 24 hours ago. Although price ratcheted lower in Asian morning on modest euro selling following news report on Sunday that sources said ECB were open to cutting interest rates if economic growth slows, price fell from 1.1331 (New Zealand) to session lows 1.1291 in holiday-thinned European morning before rebounding to 1.1324 in New York afternoon.

Although yesterday's weakness to 1.1291 suggests recent upmove has made a temp. top at Friday's 10-week peak at 1.1347, subsequent bounce to 1.1324 suggests consolidation with upside bias remains before prospect of further gain to 1.1385, reckon 1.1400 should hold and yield stronger correction later today or tom.
Bids are noted at 1.1300/90 with stop below there, more stops are touted below 1.1250.
Offers are tipped at 1.1340/50 with stops above there.

Economic calendar is very light in the euro area countries, the only data due out is EU's Sentix investor sentiment for June.

 

[AceTRaderForex]

AceTraderFx Jun 12: Intra-Day News and Views & data to be released today -USD/JPY

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

USD/JPY - 108.47.. The pair met renewed buying at Tokyo open at 108.36 and climbed to 108.66 at European open, then later to session highs of 108.80 also at New York open due to active broad-based yen selling, lack of follow-through buying and falling U.S. yields later pushed the pair to 108.44.

Although dlr's rally from last Friday's post-NFP low at 107.89 to 108.80 yesterday suggests further choppy trading above last Wednesday's 5-month trough at 107.82 would continue, subsequent retreat signals consolidation with downside bias remains, below 108.34/36 sup would indicate said correction has ended n may head back towards 107.82.
Offers are tipped at 108.55/65 and more above with stops above 108.80 while bids are noted at 108.40-35 with stop below there.

On the data front, U.S. will release CPI, core CPI, real weekly earnings and then Federal budget.

 

[AceTRaderForex]

AceTraderFx Jun 13: Intra-Day News and Views & data to be released today -EUR/USD

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

EUR/USD - 1.1296.. Euro is nursing loss in subdued Asian morning after Wed's selloff from 1.1343 (Europe) to 1.1283. Despite yesterday's intra-day firmness, failure to re-test last Friday's 10-week peak at 1.1347 triggered profit taking and intra-day decline accelerated as the greenback caught a bid in New York trading, knocking the pair sharply lower.

Yesterday's decline suggests further choppy trading below Jun's 1.1347 high would continue with downside bias, offers are tipped at 1.1300/10 with stops above 1.1330.
Some bids are noted at 1.1285-80 and more below with stops touted below 1.1250.

ON the data front, Germany will release final CPI and final HICP and then EU's indurtial production.
The Eurogroup meets in Bressels today, ECB's Draghi and Coeure will participate in this meeting.

 

[AceTRaderForex]

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

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

USD/JPY - 108.31.. Dlr is trading roughly where its was 24 hours ago in subdued Asian morning on Friday after a mini roller-coaster ride in Thursday's session.
Despite yesterday's initial weakness at Tokyo open and intra-day fall from 108.53 (AUS) to session lows of 108.17, price staged a short-covering rebound in Europe n climbed back to 108.53 in New York morning, renewed Middle East tensions triggered safe-haven yen buying and pressured price to 108.26.

Intra-day softness has retained daily bearishness on dlr as the early fall from 108.80 (Tuesday) to 108.17 suggests correction from June's 5-month bottom at 107.82 has possibly ended, so trading the pair from short side due to anticipated yen's strength is favoured.
Offers are tipped at 108.40/50 with stops above 108.60, more stops are reported at 108.85.
Bids are noted at 108.25-15 with stops below there.

T.G.I.F., U.S. will release a slew of eco. data later today, pay attention to retail sales, then industrial production, capacity utiliztion, mfg output, business inventories, and last but not least, University of Michigan consumer confidence.