AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Sept 2019 03:30GMT

EUR/USD - 1.1075.. The single currency moved relatively narrowly in subdued Asian morning as Japanese markets are closed today for holiday but yen swung wildly in risk off trades following Saturday.'s drone attacks on Saudi oil fields which triggered safe-haven yen and gold/silver buying in early New Zealand/AUD trading.

Friday's retreat from a 2-week high at 1.1109 (Europe) to 1.1062 in New York due to upbeat U.S. data suggests range trading is in store before recent upmove resumes later today and head towards next daily objective at 1.1164.
Bids are noted at 1.1070-60 with stops touted below 1.1050.
While offers are tipped at 1.1100/10 with stops above 1.1115.

On the data front, the only economic data from the euro area countries is Italy's final CPI. We have a number of ECB officials delivering speeches during European session, please refer to our Economic Indicator section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 17 Sept 2019 03:30GMT

EUR/USD - 1.1011.. The single currency is nursing loss in subdued Asian morning on Tuesday after yesterday's selloff from 1.1091 (New Zealand) to as low as 1.0994 due to broad-based usd's strength or rather usd demand.

Although euro's rally in post-ECB Thursday session from 1.0928 to 1.1086, then 1.1109 on Friday suggests choppy trading above September's 27-month bottom at 1.0927 would continue, yesterday's weakness to 1.0994 suggests correction has possibly ended n downside bias remains for further fall to 1.0950/60 after consolidation.
Offers are tipped at 1.1030/40 with stops above 1.1060.
While some bids are noted at 1.0990-80 with stops below there.

On the data front, pay attention to release of Germany's ZEW eco. sentiment n current condition, then EU's ZEW eco. sentiment. We have a number of ECB officials speaking today, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Sept 2019 03:30GMT

USD/JPY - 108.25.. Dlr catches a small bid in Asian morning on Wed due to renewed yen selling after going through sideways trading in European morning and New York session yesterday.

Despite climbing to a 6-week high of 108.36 in Asian initially on Tuesday following positive Sino-U.S. trade talk news, profit taking quickly pushed price lower , the pair swung sideways in European session and later fell to 108.07 in New York due to broad-based liquidation of recent long usd positions. Outlook remains mildly bullish for recent upmove to make further headway ahead of FOMC announcement.
Bids are noted at 108.10-00 with stops touted below 107.90 whole offers are tipped at 108.35/40 with stops reported above 108.50.

FOMC and subsequent J. Powell's press conference are the biggest events for the month. Market is pricing in for a 25 basis point rate cut but some are even expecting Fed to restart QE programme, if this does occur, then the greenback would be bashed down hard. Until then, U.S. will release MBA mortgage applications, building permits n housing starts.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Sept 2019 03:30GMT

USD/JPY - 108.18.. Despite continuing its recent winning streak and climbing to a fresh 6-week high of 108.47 after Fed's less-dovish cut, dlr pares yesterday's gain and fell in Asian trading on a bout broad-based yen buying (traders cited Japanese yen buying to lock in profits).

Intra-day retreat to 108.13 suggests consolidation is in store, however, yesterday's rebound in U.S. yields should support dlr on dips, so trading from long side in anticipation of resumption of upmove is still recommended.
Bids are noted at 118.10-00 with stops below 117.90 while offers are tipped at 108.40/50 with stops tourted above there.

Market awaits BOJ's monetary policy announcement n then BOJ Gov. Kuroda press conference at 06:30GMT.
Later, U.S. will release initial weekly jobless claims, current account n Philly Fed mfg survey at 12:30GMT, then existing home sales plus leading indicator at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Sept 2019 03:30GMT

GBP/USD - 1.2544... The British pound finds renewed buying after paring yesterday's gains. Although cable rose to 1.2500 in European morning on Thursday, renewed selling emerged and price fell 1-tick below Wed's 1.2439 low to 1.2438 ahead of New York open.
However, the pair erased its losses and later rallied to a 2-month high at 1.2560 after European Commission President Jean-Claude Juncker said a Brexit deal could be reached before retreating to 1.2518 at Asian open today on profit-taking. Price then rebounded on usd's weakness.

Although cable's rally to 1.2560 yesterday suggests recent upmove from September's 34-month trough at 1.1959 has once again resumed, subsequent retreat would yield range trading before marginal gain, hence buying on dips is still recommended, however, risk of correction has increased due to loss of upward momentum.
Bids are noted at 1.2520-15 with stops below 1.2500.
While offers are tipped at 1.2560 with more above with stops above 1.2600.

There will no economic data from U.K. today but Bank of England will publish its quarterly bulletin (Q3) at 11:00 GMT and traders should pay attention to any Brexit headlines.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Sept 2019 03:30GMT

USD/JPY - 107.70.. Dlr pares Friday's cross-inspired weakness and swung sideways in holiday-thinned Asian morning as Japanese markets are closed for Autumn Equinox holiday.

Despite intra-day choppy trading in Asia n Europe on Friday, dlr fell in New York from 108.02 to 107.53 on news China trade delegation had cut short its U.S. trip and cancelled its visit to U.S. farm, the news triggered broad-based safe-haven yen buying. As dlr's decline from last Wed's post-FOMC 6-week peak at 108.47 signals temp. top is made, downside bias remains fro further weakness to 107.19/20 chart obj.
Order book is pretty thin with some offers touted at 107.75/80 and some bids are noted at 107.50-45 with stops below there.

U.S. will later release Chicago Fed National Activity Index, Markit mfg and services PMIs.
Also we have New York Fed's Williams, St. Louis Fed's Bullard and San Francisco Fed's Daly speaking during New York session (please refer to our EI section for time of their speeches).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 24 Sept 2019 03:30GMT

EUR/USD - 1.0989.. Euro is in holding mode in subdued Asian morning after Monday's selloff in Europe from 1.1025 to as low as 1.0957 as release of a string of downbeat PMI data in Germany n the EU triggered broad-based euro bashing. However, lack of follow-through selling later lifted price to 1.1000 in New York morning due to short covering.

Despite euro's recent daily wild swings from September's fresh 27-month bottom at 1.0927, yesterday's weakness to 1.0967 suggests correction has possibly ended n re-test of said temp. low is likely, so trading from short side is cautiously favoured.
Offers are tipped at 1.0995/00 with stops above 1.1025 while bids are noted at 1.0970-60 with stops touted below 1.0950 and more stops are reported below 1.0920.

On the data front, although France will kick off with business climate, pay attention to release of key German Ifo data.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Sept 2019 03:30GMT

USD/JPY - 107.25.. Dollar pares yesterday's selloff in hectic New York trading and recovers in Tokyo trading as bargain hunting by Japanese importers lifted price to 107.30.

Despite yesterday's cross-inspired gain to session highs of 107.78 in European morning, dlr tumbled in New York on market talk of an impeachment procedure against U.S. Trump (see early updates for details), decline accelerated after tripping stops below 107.30 and hit 107.02.
Although price briefly bounced to 107.42 on news Trump agreed to release transcript of telephone call with Ukraine's President, renewed selling quickly emerged and later knocked price to a 2-week low of 106.97. Expect range trading before prospect of resumption of recent decline.
Offers are tipped at 107.35/45 with stops above 107.80 while bids are noted at 107.10-00 with stops below 106.90.

U.S. will release MBA mortgage applications, building permits, then new home sales. We also have a number of Fed officials delivering speeches in NY session, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Sept 2019 03:30GMT

EUR/USD - 1.0959.. The single currency gained respite in Asian morning after yesterday's selloff from 1.1023 (AUS) to as low as 1.0938 in New York session as the greenback caught a bid in New York trading partly on rising U.S. yields.

As euro's break of Monday's 1.0967 low to 1.0938 suggests correction from September's fresh 27-month bottom at 1.0927 has ended earlier at 1.0109, downside bias remains for re-test of said 2019 trough and stops below 1.0920, 1.0900 are now in focus.
Offers are tipped at 1.0965/75 and more above with stops above 1.1000 while bids are noted at 1.1040-30.

Eco. calendar in the euro area countries is pretty thin with Italy's trade balance and EU's economic bulletin being the only data due out.
Pay attention to speeches by ECB's Draghi at 13:30GMT n other ECB officials during the day (please refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 27 Sept 2019 03:30GMT

USD/JPY - 107.70.. Dlr pares yesterday's gain in Asia due to renewed cross-buying of yen after yesterday's resumption of near term upmove from Tuesday's 106.97 low to 107.95 in New York afternoon.

Although range trading below 107.95 is envisaged during European morning, as dlr's rebound frim 106.97 signals correction from September's top at 108.47 has possibly ended, consolidation with upside bias remains, so buying again on dips is favoured.
Bids are noted at 107.60-50 with stops reported below 106.40 while offers are tipped at 107.90/00 with stops touted above 108.05.

T.G.I.F. after a choppy swings this week, U.S. will release a slew of eco. data starting with August PCE, core PCE, personal income and spending, durable goods order at 12:30GMT, then later University of Michigan consumer confidence at 14:00GMT.
We also have Fed's Quarles and Philly Fed's Harker speaking in New York session.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 30 Sept 2019 04:30GMT

USD/JPY - 107.93.. Dollar trades narrowly in subdued Asian morning after hitting an 8-day high of 108.17 in New York morning. Despite extending last week's erratic rise from 106.97 (Tuesday) to 108.17, price briefly tumbled on safe-haven yen buying after on media report White House officials are discussing ways to limit U.S. portfolio flows into China.

Although range trading is expected to continue, as long as Fri's 107.66 holds, outlook remains mildly bullish for dlr to re-test September's 6-week peak at 108.47 after consolidation.
Bids are noted at 107.85-80 n more below with stops below 107.60 while offers are tipped at 108.10/15 with stops above 18.20 n more stops are reported above 108.50.

U.S. will later today release Chicaogo PMI at 13:45GMT n then Dallas Fed mfg business index at 14:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 Sept 2019 04:30GMT

GBP/USD - 1.2288... The British pound moves narrowly in Asian session after yesterday's roller-coaster ride. Although cable gained from 1.2260 to 1.2312 in Europe on Tuesday, price dropped to a 26-day low at 1.2205 in New York morning on cross-selling in sterling.
However, the pair then rallied to session highs at 1.2340 after Bloomberg reported that EU is ready to consider a time-limit on Irish backstop as well as weak U.S. manufacturing data before weakening to 1.2260. Price then rebounded to 1.2314 before moving broadly sideways.

Despite cable's resumption of decline from September's 2-month peak at 1.2582 to 1.2205 yesterday, subsequent rally to 1.2340 suggests temporary low is in place and further gain towards 1.2360/66 would be seen after consolidation, however, reckon 1.2381/93 would remain intact and yield retreat.
Bids are noted at 1.2270-60 with stops below 1.2240 while offers are tipped at 1.2310/20 with more above and stops above 1.2380.

The only economic data coming from the UK today is Markit construction PMI.
However, traders should keep an eye out for any Brexit development.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 03 Sept 2019 04:30GMT


GBP/USD - 1.2302... The British pound pares yesterday's gain in calm Asian trading. Although cable fell from 1.2300 at Asian open to session lows at 1.2227 in European morning on Wednesday due partly to the release of soft UK construction data, price found renewed buying and later rose to an intra-day high at 1.2324 in New York due to renewed usd's weakness together with Brexit optimism after UK Prime Minister Boris Johnson gave details of his Brexit proposal before moving broadly sideways.

Although cable's rally from a 3-week bottom at 1.2205 to 1.2340 on Tue suggests recent decline from September's 2-month peak at 1.2582 has made a temporary low there, as long as 1.2347 (Monday's high) holds, consolidation with downside bias remains and below 1.2205 would extend said fall to 1.2180/90.
Offers are tipped at 1.2320/25 with stops above 1.2350 while bids are noted at 1.2270-60 with more below and stops reported below 1.2200.

On the economic calendar today, UK will only release Markit services PMI.
However, traders should remain cautious for Brexit headlines.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 04 Sept 2019 04:30GMT

USD/JPY - 106.77.. Dollar is nursing loss in subdued Asian morning after hitting a near 4-week low of 106.49 in New York morning on Thursday as downbeat U.S. services data (following very weak mfg data on Wednesday) and falling yields led to market speculation Fed will cut its rate again at Oct 29-30 FOMC, however, profit taking soon emeregd and later lifted price back up to 106.96.

Intra-day recovery from 106.49 suggests range trading is likely to continue in European morning as traders are keeping their powder dry ahead of release of key U.S. payrolls and average earnings data. Bids are noted at 106.70-60 with stops below 106.40 while offers are tipped at 106.90/00 with stop reported above 107.30.

U.S. will later release the blockbuster NFP, average earnings, unemployment rate, international trade and trade balance. We also have a number of Fed officials scheduled to speak in NY afternoon, pay particular attention to Fed's Powell when he speaks at 18:00GMT (pleae refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Sept 2019 04:30GMT

GBP/USD - 1.2294... The British pound recovers in Asian trading after yesterday's roller-coaster ride. Although cable edged up to 1.2336 in New Zealand, price met renewed selling and fell to an intra-day low of 1.2288 in European morning on Brexit news before rebounding to 1.2333 ahead of New York open but only to retreat in tandem with euro to 1.2290 near the New York close due to usd's strength.

Despite euro's corrective rise from last Tuesday's 3-week trough at 1.2205 to as high as 1.2413 on Thursday, subsequent selloff to 1.2276 Friday suggests temporary top is in place and yesterday's sideways swings would yield consolidation before prospect of another fall but below 1.2227 needed to bring re-test of 1.2205.
Offers are tipped at 1.2305/10 with more above and stops above 1.2360 while bids are noted at 1.2265-60 with stops below 1.2230.

Although there is no economic data coming out from UK today, we have Bank of England Governor, Mark Carney due to speak at 04:00 GMT at the task force on climate-related financial disclosure summit in Tokyo. Later, Bank of England MPC member Silvana Tenreyro will take part in a panel conversation at the ECB's annual conference on monetary policy at 09:30 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Sept 2019 04:30GMT

GBP/USD - 1.2215... The British pound moves narrowly in subdued Asian trading after yesterday's selloff. Although cable recovered to 1.2302 at European open on Tuesday, price met renewed selling and later tumbled to a 1-month bottom at 1.2196 in New York morning on renewed Brexit concern after news reported breakdown in Brexit talks before rebounding to 1.2226 in Australia today on short-covering.

Cable's selloff from last Thursday's high at 1.2413 and then yesterday's break of last Tuesday's 1.2205 low to 1.2196 confirms recent decline from September's 2-month peak at 1.2582 has once again resumed and further weakness towards 1.2180 would be seen after consolidation but oversold condition should keep price above 1.2142.
Offers are tipped at 1.2225/35 with stops above 1.2255/60 while bids are noted at 1.2190 with more below with stops reported below 1.2150.

Although there is no economic data coming out form UK today, Bank of England will publish its Financial Policy Summary and Record of the Financial Policy Committee meeting at 08:30 GMT. Traders should also remain cautious on any Brexit headlines that may cause some volatility.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 11 Oct 2019 04:30GMT

GBP/USD - 1.2438... The British pound pares yesterday's gain in relatively calm Asian trading. Cable initially gained from 1.2203 in Australia to 1.2265 in Europe on Thursday and despite subsequent retreat to 1.2216 in New York morning, price found renewed buying and rallied to a 2-week high at 1.2469 on positive Brexit news after UK Prime Minister Johnson met with Irish Prime Minister Varadkar before weakening to 1.2420 (Reuters) in Australia today on profit-taking.

Cable's impressive rally to 1.2469 yesterday suggests recent decline from September's 2-month peak at 1.2582 has made a temporary low at 1.2196 on Tuesday and range trading would be seen ahead of European open before price extends to 1.2500/10, however, overbought condition may cap price below 1.2560 today and yield correction.
Bids are noted at 1.2415-10 and more below with stops below 1.2360 while offers are tipped at 1.2500/10 with stops above 1.2530.

Although there is no economic data coming from UK today, the pound is likely to remain volatile on intra-day Brexit headlines, so be nimble and be quick.

 

[DT77]

GBP gonna get stronger over the next week or two IMO. Some positive Brexit news on the horizon

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Oct 2019 04:30GMT

GBP/USD - 1.2592... The British pound remains on the back foot in Asian trading after Friday's volatile session. Cable traded with a firm bias and rose to 1.2506 in European morning and despite a brief but sharp fall to 1.2409 on initial comments from EU's Tusk, the pair later rallied to a 3-month high at 1.2708 in New York morning due to constructive Brexit talks between UK's Barclay and EU's Barnier before retreating to 1.2591 today.

Despite cable's rally above September's high at 1.2582 to 1.2708, subsequent retreat suggests recent upmove from 2019 34-month trough at 1.1959 (Sep) has made a temporary top, as long as 1.2582 holds, another rise would be seen after consolidation, however, reckon 1.2755/63 would remain intact.
Bids are noted at 1.2590-85 with stops below 1.2575 while offers are tipped at 1.2640/45 with more above with stops reported above 1.2735/40.

Although there is no economic data coming from UK today, we have Bank of England Deputy Governor Jon Cunliffe due to speak at 12:10 GMT on the outlook for monetary policy at the Society of Professional Economists annual conference.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Oct 2019 04:30GMT

GBP/USD - 1.2610... The British pound went through a roller-coaster ride on Monday on Brexit headlines. Although cable fell from 1.2645 in New Zealand to 1.2517 in European afternoon on weekend report that EU said more work needed for Brexit, price rallied to 1.2650 on cross-buying in sterling before retreating to 1.2536, however, the pair then staged a strong rebound to 1.2637 in Australia today on renewed Brexit optimism and then traded broadly sideways.

Yesterday's rally from 1.2517 to 1.2650 suggests pullback from Friday's 3-1/2 month high at 1.2708 has possibly ended and consolidation is in store before prospect of another rise, above 1.2708 would extend upmove from Sep's 34-month trough at 1.1959 to 1.2750/60. Bids are noted at 1.2575-65 with more below with stops below 1.2520 while offers are tipped at 1.2680/90 with stops above there.

On the economic calendar, UK will release claimant count, ILO unemployment rate, employment change, and average weekly earnings. Also, we have some Bank of England's officials, including Governor Mark Carney, due to speak later, please refer to our EI page for more details.