AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 107.67.. The greenback remained under pressure in Australia following yesterday's decline from 108.32 to 107.95 in New York session as a sharp fall in U.S. Treasury yields (benchmark 10-year yield dropped from 2.11% to 2.043%) led to broad-based usd selling.

Dollar fell initially to 107.88 before a minor recovery but only to meet renewed selling at Tokyo open on broad-based yen buying, the pair penetrated last week's 107.81 (Friday) low to 107.65 after tripping stops below 107.80, suggesting re-test of July's 107.54 bottom is on the cards, however, recon 107.06/10 would hold today.
Offers have been lowered to 107.85/90 and more above with stops above 108.15 while a mixture of bids and stops is reported at 107.55-50.

U.S. will release a slew of eco. data starting with weekly jobless claims, Philly Fed business index and then leading indicators. Also we have Atlanta Fed President Bostic and New York Fed President Williams speaking at 13:30GMT n 18:15GMT respectively in New York session.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1263.. Trading the single currency proved to be tricky in hectic Thursday's session. Although euro extended previous day's gain to 1.1244 shortly after European morning, price briefly fell to 1.1206 on dovish ECB's report by Bloomberg n only later to jump to session highs of 1.1280 in NY afternoon due to broad-based usd's weakness on Fed Williams' dovish remarks but official statement by New York Fed briefly knocked price back down to 1.1241 in Australia.

Euro's daily swings seen this week suggests recent price gyrations inside 1.1285-1.1201 range would continue and as long as upper level holds, another fall towards 1.1201 is likely but below July's 1.1194 bottom needed to extend recent decline towards projected downside target at 1.1150.
Offers are tipped at 1.1275/85 with stops above there whilst bids are noted at 1.1245-35 with stop below 1.1220, more stops are touted below 1.1190, then below 1.1180.

On the data front, Germany will kick off with PPI n then followed by EU's current account.

 

[AceTRaderForex]

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

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

USD/JPY - 107.97.. Dlr remains on the front foot in Asian trading on Monday after Friday's intra-day gain to 107.96 due to broad-based usd's strength. Price opened around 107.78 in New Zealand and renewed buying at 107.71 pushed price to 108.06 in Asia partly on cross-selling in yen.

The rally from last Thursday's 3-week trough at 107.22 suggests recent erratic decline from July's 108.99 peak has made a low there and consolidation with upside bias is seen for at least a strong retracement of this move to daily target at 108.15, loss of momentum is likely to limit upside to 108.37.
Bids have been raised to 107.80-70 with stops below 107.50 while offers are tipped at 108.30/40 with stops above there.

U.S. economic calendar is very light today with Chicago national activity index for July being the only data due out at 12:30GMT, so order flows will have a strong impact on intra-day price swings. BOJ Governor Kuroda will deliver a speech at an IMF event in Washington DC at 15:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 108.06.. Although dlr briefly dipped to 107.84 at Tokyo open on renewed cross-buying in yen, a bout of usa buying quickly erased and lifted price, the pair easily penetrated Monday's 108.06 high and climbed to 108.07 due to sudden bounce in U.S yields.

As intra-day gain in usd/yen has led to broad-based gain in the greenback, suggesting upside bias remains for upmove from last Thursday's 3-week trough at 107.22 to head to next chart obj. at 108.37, however, reckon res at 108.60 would cap upside.
Bids have been raised to 107.95-90 with stops below 107.70 while offers are tipped at 108.15/20 with stops touted above 108.40.

U.S. will release a slew of eco. data later today starting with Redbook sales, home price, existing home sales and Richmond Fed mfg index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1146.. The single currency remains on the back foot in Asian trading after yesterday's selloff to a 2-month trough of 1.1146 near New York close, then marginally lower to 1.1144 in Asia today.

Tuesday's fall which started at 1.1209 ahead of Asian open n continued in European n New York sessions finally awakened euro from its recent summer lull as the breach of previous July's 1.1194 low signals downside break of the recent 2-week long sideways swings have taken place and price is en route to re-test 2019 22-month bottom at 1.1108 (May) where a breach of this key sup would pressure price towards projected downside target at 1.1054, perhaps dovish comments by ECB's Draghi at Thur's post-ECB press conference would be the catalyst for such a move. Therefore, trading euro from the short side is the way to go.
Offers have been lowered to 1.1160/65 and more above with stops above 1.1205.
While some bids are touted at 1.1140-30 with large stops reported below 1.1100.

Today is PMI day in the euro area countries, France will kick off with business climate, then Markit mfg and servicies PMIs followed by the same in Germany and then the EU. If the readings are weaker than street forecasts, then one can expect another bout of euro bashing, if actual readings are better than forecasts, then traders will sell the euro at better levels, period

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 July 2019 05:00GMT


EUR/USD - 1.1137.. Euro gained no respite in Wednesday's session and continued its recent losing streak to a near 2-month low of 1.1128 in early European trading, however, intra-day rally in sterling quickly prompted short covering in the single currency and lifted price to 1.1155 ahead of New York open before retreating to 1.1133 in subdued New York afternoon.

The fact the euro is trading near yesterday's low in Asia suggests market is keen to re-test 2019 bottom at 1.1108 (May's 22-month low) and large stops touted below 1.1100 are now in focus. Pay attention to German Ifo data ahead of key ECB monetary policy announcement n then the blockbuster post-ECB pres conference by ECB President Draghi. A weaker-than-expected German Ifo data will trigger another bout of euro bashing.
For now, offers are tipped at 1.1150/60 with stops touted above 1.1190/00.
Bids are noted at 1.1130-10 with stops below 1.1100.

Economic calendar in the euro area in very light with Germany's Ifo business climate, current conditions n expectations bring the only data due out, so all eyes are on the ECB's rate decison at 11:45GMT n post-ECB presser at 12:30GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 108.67.. Dollar stands tall in subdued Asian morning after continuing this week's winning streak to a 2-week high of 108.75 due to intra-day rally in U.S. treasury yields (benchmark 10-year jumped from 2.011% to 2.10%) after upbeat U.S. data.

Yesterday's penetration of last week's 108.37 high and then 108.60 res suggests price is en route to re-visit July's peak at 108.99 where a break there would extend upmove from 106.79 (Jun) towards 109.59 next week. Therefore, as yen is expected to remain weak vs usd and other G7 counterparts, buying dlr again on pullback is the way to go.
Bids are noted at 106.60-50 and more below with stops below 108.30.
Offers are tipped at 108.70/80 with stops reported above 109.00.

T.G.I.F., U.S. will release a slew of eco. data later in the day, pay attention to key perl. Q2 GDP ahead of next week's FOMC meeting, street forecast is looking for an increase of 1.8% vs previous reading of 3.1%, other data include Fed's preferred inflation gauge, the price index for personal-consumption expenditures n core PCE. If GDP and PCE beat forecast, expect another round of usd buying.

 

[AceTRaderForex]

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

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

USD/JPY - 108.45.. Despite Fri's resumption of recent upmove to a 2-week high of 108.83 after upbeat U.S. data, dlr fell shortly after Tokyo open on broad-based yen buying, traders cited media report Japan's Government Pension Investment Fund (GPIF) has started to hedge its overseas bond investments prompted short-term specs to buy the Japanese yen broadly, price fell to 108.43 after tripping light stops below 108.50.

Although dlr's retreat from 108.83 suggests price is not quite ready to re-test July's peak at 108.99 and further choppy sideways swings are in store, as long as 108.29 (previous res, now sup) holds, daily bullishness remains for re-test of 108.99 where a break of this res would bode well for further headway towards next retracement target at 109.59 (50% r of 112.39-106.79) later this week. Therefore, buying dlr on intra-day pullback is cautiously favoured.
Bids are noted at 108.45-40 with stops below 108.25.
Offers are tipped at 108.70/80 and more above with stops reported above 109.00.

The BOJ starts its 2-day monetary policy meeting today. In the U.S., economic calendar is very thin with Dallas Fed manufacturing business index for Jul at 14:30GMT being the only data due out.

 

[AceTRaderForex]

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

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

USD/JPY - 107.09.. The pair remains on the back foot in hectic Asian trading after o/n selloff in New York afternoon to a near 1-week low of 107.23 after U.S. Trump tweeted that he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 01.
The safe-haven yen and Swiss franc rallied on the news, U.S. stocks tumbled and U.S. Treasury yields suffered a steepest single-day drop since May 2018 (benchmark 10-year Treasury yields fell to 1.876%, which was their lowest level since November 09, 2016).

Thursday's selloff from Asian 8-week peak of 119.31 to 107.23, then 106.86 today suggests early correction from June's 5-1/2 month bottom at 106.79 has ended and re-test of this level is on the card. Therefore, as market's primary focus is renewed tension of global trade war, even if today's U.S. jobs report beats estimate, traders will be selling the pair on rally.
Offers are tipped at 107.45/55 and more above with stops above 108.00.
Some bids (profit taking) are noted at 106.90-80 with stops below 106.70.

T.G.I.F., once the market calms down, traders will await release of key U.S. jobs report plus other slew of U.S. data, please refer to our economic indicators page for details of U.S. data.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1120.. Although the single currency extended Fri's post-NFP rally to a marginal high of 1.1131 after tripping light stops above New York high at 1.1116 as intra-day selloff in usd/yen led to renewed usd's weakness vs G4 currencies, lack of follow-through buying quickly knocked price lower, suggesting sideways swings are in store until European open.

As euro's rise from last Thursday's fresh 2-year trough at 1.1028 signals recent downtrend has made a temporary low, consolidation with upside bias remains for price to head back towards last week's high at 1.1162, so buying the pair on pullback is recommended.
Order board is pretty thin on this Monday in Asia, bids are noted at 1.1110-00 and more below with stop touted below 1.1070.
While offers are tipped at 1.1130/40 and more above with stops reported above 1.1165/70.

Today is PMI day in the euro area countries, France will kick off with non-farm payrolls, industrial outlook, then Italy will release Markit services PMI, the same from France, Germany and the EU as well as Sentix investor sentiment index.

 

[AceTRaderForex]

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

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

USD/JPY - 106.10.. Although dlr easily penetrated Monday's 105.80 low to a fresh 7-month bottom of 105.53 in August on active safe-haven yen buying due to continued U.S.-China trade tensions, price then jumped to 106.38 in Asian morning after PBOC sets Chinese yuan mid-point at weakest level since May 20, 2008 (6.69683/dlr).

Dlr's intra-day gain from 105.53 suggests Medium Term decline has made a temporary bottom there and stronger retracement to 106.52 may be seen, above would yield further headway towards 106.85/95 before prospect of another fall later.
Offers are tipped at 106.50/60 with stops above 106.80 while bids are noted at 105.80/85 with stops below 105.50.

Pretty light on the U.S. economic calendar today with redbook and JOLTS job openings.
Also, we have Philadelphia Fed President Patrick Harker who will be giving introductory remarks before a euro economics and financial decision making conference at 14:05GMT and St. Louis Fed President James Bullard will be giving a presentation on the U.S. economy and monetary policy at 17:05GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Aug 2019 03:00GMT

EUR/USD - 1.1217.. The single currency's strong rebound after yesterday's fall from 1.1249 to 1.1168 suggests pullback has ended n consolidation would be seen before prospect of another upmove later today.

Although euro's rally from last Thursday's 26-month trough at 1.1028 to 1.1249 yesterday suggests Medium Term decline has made a temporary low, subsequent retreat to 1.1168 signals 1st leg of correction has ended n consolidation with upside bias remains for further headway to 1.1285 but 1.1311/21 should hold n yield retreat.
Bids are noted at 1.1190-80 with stops below 1.1160.
While offers are tipped at 1.1280/85 with stops above there.

The euro area counties will release a slew of eco. data starting with Germany industrial output followed by France industrial output, non-farm payrolls, current account, trade balance, imports, exports.

Economic calendar is quite light today with Germany industrial order followed by France non-farm payrolls and industrial output. We also have Executive Board member of ECB Benoit Coeure due to speak at 07:30GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 106.13.. Dlr briefly jumped to 106.27 after PBOC set its mid-point USD/CNY rate above the 7.0000 level (7.0039) to the first time since 2008.

Despite yesterday's intra-day selloff from 106.32 in Asia on selloff in the kiwi and aud, then a brief break of Tuesday's 105.53 low to a fresh 7-monthh trough of 105.50 shortly after New York open when U.S. Trump said the Fed must cut rates "bigger and faster" for the U.S. to be competitive against other countries in his tweet, subsequent rebound to 106.27 ahead of New York close due to rally in U.S. yields (benchmark 10-year surged from a 33-month low of 1.5947% to 1.7359) and rebound in the Dow suggests temporary low has been made n choppy trading with upside bias is in store.
Bids are noted at 106.10-00 n more below with stops below 105.80 while offers are tipped at 106.25/30 with stops above 106.35.

On the data front, U.S. will release the usual weekly jobless claims and then wholesale inventories n wholesale sales data.

 

[AceTRaderForex]

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

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

USD?JPY - 105.99.. Despite initial weakness ahead of Tokyo open after intra-day break of yesterday's low at 105.90 (New York) to 105.73 in Australia due to renewed safe-haven yen buying, dlr pared losses in early Asian trading and rebounded after China's central bank (PBOC) lowered its official yuan mid-point fixing rate for 7 consecutive sessions to a fresh 11-year low of 7.0136 (yesterday's fixing was 7.0039), however, as the latest fixing rate was not as weak as markets had expected, traders sold yen broadly on profit taking.

Dlr's intra-day rebound from 105.73 suggests further choppy trading above Wednesday's fresh 7-month bottom at 105.50 would continue and near term upside bias is seen for recovery to yesterday's 116.30 top (reaction high) and stops above 106.35 are in focus. Therefore, buying the pair on dips is cautiously favoured.
Bids are noted at 105.90-70 with stops below there and more stops are reported below 105.50.
While offers are tipped at 106.20/30 with stops touted above 106.35.

T.G.I.F. for the Asian traders as a tumultuous week where a lot of intra-day wild moves occurred in Australia n Asian morning. Later today, U.S. will release final PPI for Jul, so traders will likely to take cue from intra-day move in U.S. yields n the Dow for trading.

 

[AceTRaderForex]

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

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

USD/JPY - 105.51.. Although the pair staged a minor recovery to 105.69 in Australia on Monday, price quickly fell due to broad-based yen buying n hit a low of 105.32 ahead of Asian open, price pared intra-day losses after the official USD/CNY mid-point fixing rate was set at 7.0211 vs Friday's close of 7.0615.

Looks like range trading above Friday's fresh 7-month low at 105.27 (New York) would continue as Japanese markets are closed for Mountain Day holiday and many other Asian centres are also closed for local holiday too.
Bids are noted at 105.30-20 with stops below there and more below 105.00.
While offers are tipped at 105.65/70 n more above with stops above 106.00.

On the economic calendar, no data is due out from the U.S. today, we have U.S. Federal budget due out at 18:00GMT, therefore, funds flow will have a greater impact on intra-day price swings.

 

[AceTRaderForex]

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

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


USD/JPY - 105.55.. Dollar gained respite in Asian trading on Tue after staging a rebound from yesterday's fresh 7-month trough of 105.06 ahead of New York open, however, short covering later lifted price to 105.43 in New York and price edged higher ahead of Tokyo lunch break after tripped stops above 105.45.

Although intra-day gain suggests recent downtrend has made a temporary low n range trading with near term upside bias is seen.
Offers at 105.65/70 are likely to cap present rise and yield decline later today.
For now, bids are noted at 105.35-25 and more below with stop below 105.00.

On the data front, U.S. will release a slew of eco. indicators starting with Jul core CPI, CPI, real weekly earnings and Redbook sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.177.. Euro remains on the back foot in subdued Asian morning as the Japanese took centre stage following yesterday's rally vs the usd in New 3York on upbeat U.S.-China trade news n then today's release of downbeat China data.

Despite yesterday's bounce from 1.1183 (Asia) to intra-day high of 1.1228 shortly after New York open, usd's broad-based rally vs G4 currencies following said positive U.S.-China trade news knocked the euro to session lows of 1.1171, suggesting further choppy trading below Aug's 1.1249 high would continue n present softness suggests consolidation with downside bias remains.
Offers are tipped at 1.1190/00 n more above with stops reported earlier above 1.1250.
While bids are noted at 1.1170-60 with stops below there.

The euro area countries will release a slew of eco. data starting with France's unemployment, Germany's prel. Q2 GDP, France's CPI nand then EU's employment change, Q2 GDP and industrial production.

 

[AceTRaderForex]

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

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

EUR/USD - 1.177.. Euro remains on the back foot in subdued Asian morning as the Japanese took centre stage following yesterday's rally vs the usd in New 3York on upbeat U.S.-China trade news n then today's release of downbeat China data.

Despite yesterday's bounce from 1.1183 (Asia) to intra-day high of 1.1228 shortly after New York open, usd's broad-based rally vs G4 currencies following said positive U.S.-China trade news knocked the euro to session lows of 1.1171, suggesting further choppy trading below Aug's 1.1249 high would continue n present softness suggests consolidation with downside bias remains.
Offers are tipped at 1.1190/00 n more above with stops reported earlier above 1.1250.
While bids are noted at 1.1170-60 with stops below there.

The euro area countries will release a slew of eco. data starting with France's unemployment, Germany's prel. Q2 GDP, France's CPI nand then EU's employment change, Q2 GDP and industrial production.

 

[AceTRaderForex]

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

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

USD/JPY - 106.22.. Dlr swung wildly in hectic trading on Thursday Price moved narrowly in subdued Asian morning and briefly jumped to 106.78 shortly after European open on rebound in U.S. yields, however, price quickly fell to 105.71 in European midday before rebounding to 106.34 on usd's strength after robust U.S. retail sales data, New York and Philly Fed mfg PMIs.

Although Thursday's strong retreat from 106.78 to 105.71 suggests further choppy trading below this week's high at 106.97 (Tuesday) would continue, as price has edged higher in Asian morning on usd's firmness, consolidation with near term upside bias remains.
Bids are noted at 106.05-105.95 with stops reported below 105.60.
While offers are tipped at 106.30/35 and more above with stops above 106.80.

T.G.I.F., U.S. will later release housing starts, building permits and then University of Michigan consumer confidence.

 

[AceTRaderForex]

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

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

USD/JPY - 106.28.. A sense a relative calmness has returned at the start of a new trading after a tumultuous week where the greenback swung wildly after hitting a fresh 7-week trough of 105.06 last Monday.

Despite Friday's intra-day gain to 106.49 in Europe, subsequent retreat to 106.21 in New York, then initial bounce to 106.48 in New Zealand today and present pullback suggests range trading is in store with a neutral bias, so traders should sell dlr on further rise as last week's high at 106.97 should remain intact whilst near term good sup area at 105.66/71 is likely to contain weakness.
Offers are tipped at 106.45/50 with stops above 106.80 while bids are noted at 106.20-10 with stops below 106.00.

As no U.S. eco. data is due out, traders need to take cue from intra-day price move in U.S. yields n then U.S. stocks later today.