AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 108.35.. Dlr falls in Asian trading on renewed broad-based yen buying, comments by BOJ Governor Kuroda which warned of global uncertainty on economic outlook attributed to safe-haven yen buying.

Despite yesterday's cross-inspired erratic rise to 108.70 in Asia n then to session highs of 108.72 ahead of New York open, price quickly retreated after New York mfg index suffered the steepest one-month drop on record n price later retreated to 108.52 near the close. Intra-day decline suggests choppy trading below last week's 108.80 high would continue with downside bias, however, reckon June's 5-month bottom at 107.82 would remain intact ahead of Wednesday's Fed rate decision.
Offers have been lowered to 108.55/65 with stops above 108.80.
Bids are noted at 108.25-20 with stops below 108.10.

U.S. will later release building permits, housing starts n Redbook sales. The 2-day FOMC meeting starts today.

 

[AceTRaderForex]

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

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

USD/JPY - 108.45.. Dlr swung wildly in hectic Tuesday's session. Despite intra-day decline from 108.58 (AUS) to a 1-week low at 108.07 in New York morning, news of U.S. Trump will meet with China's Xi for trade talks at next week's G20 summit in Osaka, Japan triggered broad-based yen selling due to market optimism, the pair briefly rallied to 108.67 but price quickly pared intra-day gain and retreated to 108.24 and later moved sideways in subdued New York afternoon.

Despite initial gain to 108.61 shortly after Tokyo open, intra-day retreat suggests choppy sideways swings with downside bias remains ahead of Fed's rate decision n accompanied FOMC statement.
Any dovish comments by Fed Chairman J. Powell at post-FOMC presser would knock dlr below June's 5-month trough at 107.82, so trading from short side is favoured.
Offers are tipped at 108.60/70 with stops above 108.80 while bids are noted at 108.20-10 with stops reported below 108.00 and more below 107.75.

BOJ Gov. Kuroda will deliver a speech in Tokyo at 06:30GMT and board member Eto will also speak in Tokyo around the same time. The only eco. data from the U.S. is MBA mortgage applications, then FOMC monetart policy announcement at 18:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.74.. Dlr tumbled at Tokyo open following o/n selloff in post-FOMC New York session after Fed's dovish tilt and dropped from 108.13 (AUS) to a 5-1/2 month trough of 107.56 after tripping stops below previous June's bottom at 107.82, however, intra-day recovery on short covering ahead of BOJ's monetary policy announcement suggests range trading would be seen.

Having said that, today's break of 107.82 confirms decline from 2019 peak at 112.39 has finally resumed after 2-week of volatile daily swings and further weakness towards projected downside target at 107.30 is envisaged but 107.00/05 should contain weakness.
Offers have been lowered to 107.80/90 with stops above 108.10 while bids are noted at 107.60-50 with stops below 107.30.

Pay attention to BOJ Gov. Kuroda post-BOJ presser at 06:30GMT. U.S. will release weekly jobless claims, current account and Philly Fed survey all at 12:30GMT later today.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1306.. Euro edges higher in Asian trading as intra-day renewed weakness in usd/yen triggered another bout of usd selling.

Yesterday's resumption of upmove from this week's low at 1.1182 (Tuesday) to as high as 1.1317 in New York morning suggests re-test of June's 10-week peak at 1.1347 would be seen after consolidation, therefore, buying the single currency on pullback is favoured and stops above 1.1250 are in focus.
Bids have been raised to 1.1280-70 with stops below 1.1250 while offers are tipped at 1.1315/25 and more above with stops above 1.1350.

Today is PMI day in the euro zone, France will kick off with Markit mfg and services PMIs, then the same from Germany and then the same from the EU. ECB's Draghi will participate in the Euro Summit in Brussels.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1376.. Euro maintains a biddish tone in Asian trading after Fridays impressive rally from 1.1284 (Europe) to a 3-month peak of 1.1377 in NY afternoon due to continued usd's broad-based weakness.
The single currency mat renewed buying at New Zealand open and climbed to 1.1386 shortly after Asian open before easing on lack of follow-through buying.

Friday's rally above previous June's 1.1347 to 1.1377, then 1.1386 today confirms Medium Term upmove from 2019 bottom at 1.1108 (May) has finally resumed and price is en route towards next daily chart obj. at 1.1448 (Mar high), therefore, buying euro on dips is the way to go.
Order book is light on this Monday morning, bids are noted at 1.1360-50 with some stops below 1.1340, offers are tipped at 1.1390/00 with stops above 1.1400.

On the data front, pay attention to release of key German Ifo business climate , current conditions n expectation indexes, the euro will extend recent gain if actual readings beat forecasts. ECB Executive Board Member Lautenschlager will make a presentation at Rotary Club in Frankfurt, Germany at 11:00 GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.14.. Despite staging a rebound from yesterday's 107.25 low (Europe) to 107.53 in New York morning due to cross-selling of yen, the pair fell shortly after Tokyo open on Tuesday as traders bought the safe-haven yen broadly vs usd, eur, sterling and aud etc, price fell to 107.09.

Intra-day weakness due to renewed usd's decline in Asia suggests re-test of Friday's 5-1/2 month trough at 107.06 would be forthcoming next and stops below 107.00 are in focus, therefore, sell dlr on recovery is the way to go.
Offers have been lowered to 107.35/40 and more above with stops above 107.85.
Bids are noted at 107.10-05 with stops below 107.00.

The U.S. will release a slew of eco. data later today starting with U.S. building permits, Redbook, monthly home price, CS home price, consumer confidence, new home sales, Richmond Fed manufacturing index.
Also we have New York Fed's Williams speaking at 12:45GMT, then followed by Atlanta Fed's Bostic at 14:00GMT and last but not least, Fed's Chairman J. Powell will speak at forum in New York called "A Conversation with Jerome H. Powell," at 17:00 GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.77.. Dlr regained traction in Wed's session, price met renewed buying at 107.11 (AUS) and climbed to 107.50, then 107.84 in New York session due to market optimism on forthcoming U.S./China trade talk in G20 meeting, rising U.S. treasury yields also supported the pair.

Despite initial pullback to 107.66 in early Tokyo trading, price edged higher after BOJ Deputy Gov's Wakatabe's comments. Although the upmove from Tuesday's fresh 5-1/2 month low at 106.79 suggests recent downtrend has made a temp. bottom, as long as 107.82/84 holds, consolidation with downside bias remains.
Offers are tipped at 107.80/84 with some stops above there, more stops are touted above 108.10.
Bids are noted at 107.60-50 with stops below 107.40.

U.S. will release a slew of eco. data starting with initial jobless claims, final Q1 GDP, core PCE Q1 final, pending home sales n Kansas City mfg index.

 

[AceTRaderForex]

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

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

USD/JPY - 107.61.. Despite staging a strong rebound from Tuesday's fresh 5-1/2 month bottom at 107.61 as optimism of a U.S.-China trade truce triggered broad-based yen selling, dlr hit 108.16 shortly after European open on Thursday and later retreated to 107.68 in New York morning on waning market optimism of a break through in U.S.-China trade talk at Saturday's Trump-Xi meeting on the sideline of G20 Osaka summit.

As dlr's rally from 106.79 has run out of steam yesterday, intra-day break of 107.68 suggests at least the 1st leg of correction has ended and consolidation with downside bias is expected.
Offers have been lowered to 107.80/85 with stops above 108.20.
Some bids are noted at 107.45-35 with stops below there.

Pay attention to some key U.S. eco. data later today ahead of Trump-Xi's meeting on Sat, U.S. will release core PCE, PCE, producer prices, personal income, personal spending, Chicago PMI and University of Michigan consumer confidence. S. Franciso Fed President Daly will be speaking at an event at 19:20GMT.

 

[AceTRaderForex]

AceTraderFx Jul 02: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 02 Jul 2019 03:00GMT

USD/JPY - 108.41.. Dlr regains traction in Asian trading on Tue due to broad-based usd's strength in New York session on Monday as gains in global stocks due to market optimism after U.S. n China agreed to restart trade talks boosted risk sentiment, triggering active selling of safe-haven yen, Swiss franc and gold.

Despite intra-day retreat from European 11-day high of 108.53 to 108.23 due to selling of eur/yen cross, decent U.S. eco. data lifted price to 108.48 but price later moved back to 108.28 in Australia on Tuesday before renewed buying at Tokyo open pushed price back up to 108.46. Expect sideways swings before upmove from last week's 5-1/2 month bottom at 106.79 extends marginal gain, loss of upward momentum is likely to cap price at 108.80.
For now, bids are noted at 108.30-20 with stops below 108.00.
While offers are tipped at 108.50/55 and more above with stops reported above 108.80 (June high).

Later today, U.S. will release Redbook retail sales and ISM New York business conditions index. Also, NY Fed governor Williams will be speaking at 10:35GMT and then Cleveland Feds Loretta will participate in a financial seminar in London at 15:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1291.. The single currency move narrowly in subdued Asian morning as the Japanese yen took centre stage in Tuesday's trading.
Although price briefly inched lower to an 11-day trough of 1.1276 in Asia yesterday n edged higher on short covering at European open, price briefly jumped to 1.1321 on Bloomberg report that ECB policy makers aren't yet ready to rush into additional monetary stimulus at this month's meeting, preferring instead to wait for more data on the economy, renewed selling quickly emerged and pushed price back down to 1.1283 in New York afternoon.

Euro's intra-day retreat from 1.1321 suggests recovery from 1.1276 has ended and recent decline from June's 3-month high at 1.1412 would head to 1.1254, however, reckon dynamic sup at 1.1221 (61.8% r of 1.1108-1.1412) would contain weakness. Trading euro from short side is recommended but profit should be taken on next decline.
Offers are tipped at 1.1310/20 with stops above 1.1325, more stops are touted above 1.1345.
Bids are noted at 1.1280-75 with stops reported below 1.1270.

Today is PMI day n the euro area countries, Italy will kick off with Markit services OMI, then followed by the same in France, Germany n the EU. ECB Governing Council member Villeroy de Galhau will be speaking in Paris before the lower house of France's finance committee at 14:30GMT.

 

[AceTRaderForex]

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

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

GBP/USD - 1.2586.. The British pound gains respite in subdued Asian morning after hitting a 13-day trough of 1.2557 in European morning on Wednesday, despite release of another downbeat U.K. eco. data (services PMI), failure to penetrate said European low lifted price to 1.2591 shortly after New York open on downbeat U.S. ADP private payrolls n price later swung sideways in directionless New York session.

Although cable's range trading above 1.2557 would continue until European open, as decline from last week's high at 1.2784 to 1.2557 Wednesday signals early correction from June's 1.2507 bottom has ended, downside bias remains for price to re-test said sup later today or tomorrow, so selling sterling on recovery is the way to go.
Offers are tipped at 1.2590/00 with stops touted above 1.2620.
While bids are noted at 1.2560-50 with stops below 1.2540.

After release of slew of U.K. PMIs earlier this week, no U.K. data is due out today, so funds flow will dictate intra-day price swings.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 05 Jul 2019 03:30GMT

USD/JPY - 107.85.. Dlr moved relatively narrowly in lackluster Thursday's session after early decline from Monday's 108.53 high to 107.54 Wednesday.

Look at the bigger picture, as said fall signals correction from June's 5-1/2 month bottom at 106.79 has possibly ended, a daily close below 107.25 (61.8% r from 106.79) would add credence to this view and yield further weakness to 107.06/10 especially if today's key U.S. payrolls come out much lower then market forecast of an increase of 160K (prev. month' s reading was 75K) following release of weak ADP private payrolls on Wednesday.
Expect range trading above 107.54 to continue ahead of release of U.S. NFP, offers are tipped at 107.85/90 with stops above 108.00.
Bids are noted at 107.70-60 with stops below 107.50.

BOJ Deputy Governor Amamiya will speak at a Reuters Newmaker event around 03:30GMT.
T.G.I.F., and on the data front, U.S. will release a slew of eco. data on top of the month blockbuster non-farm payrolls report, please refer to our EI section for details.

 

[AceTRaderForex]

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

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

USD/JPY - 108.44.. Dlr moves narrowly in relatively subdued Asian trading on Mon following Friday's rally to a 2-week high of 108.63 after release of much stronger-than-expected U.S. payrolls, however, traders refrained from buying the usd aggressively due to tepid average wage growth.

Although the pair showed muted reaction to BOJ Kuroda's mildly upbeat comments on Japan's economy earlier when he spoke at regional branch managers' quarterly meeting, broad-based usd's strength in post-NFP New York suggests price is en route to re-test Jun's high at 108.80 after consolidation.
Bids are noted at 108.40-30 with stops below 108.10 whole offers are tipped at 108.55/60 with stops touted above 108.80.

After Friday's blockbuster U.S. NFP, no economic data is due out today in the U.S. and market is bracing itself for more big moves when Fed's Chair J. Powell testifies for 2 days on the Semiannual Monetary Report to Congress this Wednesday.

 

[AceTRaderForex]

AceTraderFx Jul 09: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 09 Jul 2019 03:00GMT

EUR/USD - 1.1212.. Although the single currency gained respite in lackluster Monday's trading following selloff to a 2-week trough of 1.1208 in post-NFP New York on Friday, price later re-tested said Friday's low after staging a minor recovery to 1.1234 in Europe, suggesting recent decline would resume in European trading.

As price remains on the backfoot as usd regained traction as yen, chf and the Aussie in Asia today, trading euro from the short side is the way to go.
Offers are tipped at 1.1230/40 with stops above 1.1270 while some bids ate noted at 1.1210-00 with stops reported below 1.1180.

On the data front, economic calendar is very thin in the euro area countries with Italy's retail sales being the only data due out. There is a ECOFIN meeting in Brussels and ECB Vice Preisent de Guindos will participate in the meeting.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Jul 2019 03:00GMT

USD/JPY - 108.90.. Although dlr retreated from Tuesday's near 3-week high of 108.96 (Europe) to 108.74 in New York morning on profit taking and trading broadly sideways in subdued New York afternoon, the pair regained traction at Tokyo open n climbed to 108.98 due to renewed usd's strength before easing.

Dlr's intra-day marginal gain suggests recent upmove remains in progress n would head to daily target at 109.15 after consolidation, loss of momentum would prevent strong gain in Europe and risk has increased for a minor correction ahead of key event later today where Fed's chair J. Powell will present Fed's Semiannual Monetary Report to the Congress before the Senate Banking Committee and any dovish comments by him may send the greenback tumbling, however, on the flip side, if he reiterates the Fed's rate decision is data dependent, then dlr may briefly jump on that.
For now, trading from the long side is preferred. Bids are noted at 108.75-70 with stops below 108.60.
While offers are tipped at 109.00/05 with stops above 109.15/20.

On the data front, U.S. will release MBA mortgage applications, wholesale inventories n then at 18:00GMT, the important FOMC minutes but this may have muted impact after J. Powell's testimony. We also have Fed's Geroge speaking in Helsinki at 04:50GMT, J. Powell's testimont at 14:00GMT, Fed's Bullard at 17:30GMT n also Fed's Quarles at the same time also.

 

[AceTRaderForex]

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

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

USD/JPY - 108.01.. The greenback took centre stage in active Asian trading on Thur due to broad-based buying of yen following yesterday's selloff from a 1-month high of 108.99 (Asia) to 108.53 after release of dovish prepared testimony of J. Powell which boltered market expectation of an immediate rate cut at next Fed's meeting in Jul, price later weakened to 108.36 after release of dovish FOMC minutes.

Dlr met renewed selling at 106.45 in Australian morning and penetrated said yesterday's low, intra-day decline continued in Asian morning n price tumbled to 107.99. As the selloff from 108.99 suggests upmove from June's 106.79 bottom has possibly ended, downside bias remains for further weakness towards 107.54 tomorrow or early next week, therefore, selling the buck on recovery is strongly recommended, current falling U.S. yields add credence to present bearish scenario.
Offers have been lowered to 108.25/35 with stops above 108.50, some bids are noted above 107.95-90 with stops below 107.80.

On the data front, U.S. will release core CPI, CPI and Fed's budget. Pay attention to Fed J. Powell's second day on Capital Hill at 14:00GMT as well as speeches by a number of other Fed officials afterwards (see our EI section for details).

 

[AceTRaderForex]

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

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

USD/JPY - 108.41.. Despite extending decline from Wednesday's 1-month high of 108.99 to 107.86 in Asian morning yesterday, the greenback caught a bid in New York session n rallied to as high as 108.52 due to broad-based usd's rebound after release of stronger-than-expected U.S. inflation data together with rising treasury yields (benchmark 10-year rose from 2.037% to as high as 2.15%).

The pair extended Thursday's gain to 108.60 ahead of Tokyo open before easing after meeting selling interest from Japanese names (exporters). Although Thursday's upbeat U.S. CPI has dampened market expectations of aggressive rate cuts by the Fed, bearish bias on USD remains as Fed J. Powell repeated his dovish comments in his 2nd testimony on Capital Hill yesterday, suggesting a strong likelihood of a 25 b.p. rate reduction at July's FOMC meeting, therefore, 108.99 top should hold from here. For now, offers are tipped at 108.60/70 and more above with stops reported above 109.00.
Bids are noted at 108.30-20 with stops below 108.00.

T.G.I.F., on the data front, U.S. will later release PPI final, core PI final n export price. We also have Chicago Fed President Evans speaking at a financial forum in Chicago ar 14:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1266.. The single currency also moves narrowly in lackluster Asian morning after staging a rebound from 1.1239 at New York open on Friday to 1.1274 in afternoon session, price edged higher to 1.1277 in Australia earlier today b4 easing.

As euro's said bounce from 1.1239 on Friday top 1.1277 today suggests early pullback from last week's high at 1.1285 (Thursday) has ended, upside bias remains for upmove from last Tuesday's near 3-week trough at 1.1194 to head to previous res area at 1.1311/21 after consolidation, however, loss of upward momentum is expected to cap price below 1.1345 today.
Order book is pretty thin on Monday with some bids noted at 1.1250-40 with stops touted below 1.1230 while some offers are tipped at 1.1285/95 with stops reported above 1.1300.

No eco. data is due out from the euro area countries and neither are there any ECB or EZ officials scheduled to speak today.

 

[AceTRaderForex]

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

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

USD/JPY - 107.95.. Although the pair did not benefit from USD's broad-based gain vs its G7 peers and New York session yesterday after release of upbeat U.S. Empire State mfg index due to renewed cross-buying in yen, price caught a bid at Tokyo open and briefly jumped to 108.09, suggesting choppy sideways trading above last week's low at 107.81 (Friday) would continue.

Having said that, as dlr's decline from July's 108.99 high suggests recent upmove has made a top there, price is en route to re-test July's 107.54 bottom after present choppy consolidation is over, however, loss of downward momentum should keep dlr above 107.06.
Offers are tipped at 108.10/15 with some stops above 108.25, bids are noted at 107.85-80 with stops below 107.70.

The U.S. will release a slew of eco. data starting with import n export price, retail sales, Redbook sales, industrial production, capacity utilization, mfg output, business inventories and NAHB housing market index. Therefore, one can expect dlr to move after these data come out. We also have a number of Fed officials speaking during U.S. session, please refer to our EI section for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1209.. The single currency remains on the back foot in relatively subdued Asian trading after falling yesterday from 1.1263 (AUS) to 1.1208 in New York afternoon session.
Intra-day decline began in early European trading due initially to selloff in sterling, then release of downbeat ZEW economic sentiment, the release of robust U.S. retail sales later pressured price to sessions lows of 1.1208.

As Tuesday's weakness to 1.1208 signals early recovery from last week's 1.1194 low has ended at 1.1285, below said sup would extend decline from 1.1412 (June's 3-month peak) to next daily obj. at 1.1182, however, oversold condition is likely to limit weakness to 1.1145/50.
Offers are tipped at 1.1220/30 and more above with stops above 1.1265.
Bids are noted at 1.1205-1.1195 with stops reported below 1.1180.

On the data front, Italy will kick off with industrial orders and sales, then EU's construction output, HCIP final and core HICP.
ECB board member Coeure will participate at an event in Paris at 07:30GMT.
We have a 2-day G7 FinMin and central bank governors meeting in Chantilly, France today, ECB Preisent Draghi and ECB's Coeure will participate in the meeting.
Also, ECB's board member and Buba President Weidmann will speak in Germany at 10:00GMT.