AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Oct 2019 04:30GMT

EUR/USD - 1.1026.. Euro is trading roughly where it was at this time in Asia yesterday after Tuesday's roller-coaster ride. Despite initial rebound to 1.1045 ahead of London open, price ratcheted lower on broad-based euro selling n hit session lows of 1.0992 after tripping stops below 1.1000, however, intra-day jump in cable on Brexit deal hope triggered short covering in euro n lifted price back up to 1.1044 b4 retreating.

Despite sideways move in subdued Asian morning, as rebound from 1.0992 signals pullback from last Friday's near 3-week high at 1.1062 has ended, euro's recent upmove is likely to resume after consolidatin and head to 1.1095/00, reckon 1.1109 (September high) should cap upside.
Bids are noted at 1.1015-05 with stops reported below 1.0990 while offers are tipped at 1.1040/45 with stops above 1.1065.

On the data front, Italy will releaase industrial orders n industrial sales, then final consumer prices and CPI, the EU will release trade balance, HICP n core HICP. ECB's Knot will speak at an event in New York at 12:30GMT, then followd by ECB Chief Economist Lane who will speak at an event in Washington D.C. at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 17 Oct 2019 04:30GMT

EUR/USD - 1.1079.. The single currency stands tall in quiet Asian trading after climbing to a 3-week high of 1.1085 in New York session on Wed after intra-day volatile swings in hectic European morning.

Despite initial brief rise to 1.1059 at European open, euro fell to session lows of 1.1023 before ratcheting higher in tandem with sterling in New York morning and hit 1.1085 after New York midday. Yesterday's break of last week's 1.1062 high (Friday) confirms recent erratic upmove has once again resumed and price is en route to re-test next daily objective at 1.1109 (September high) after consolidation, however, reckon 1.1164 res would remain intact this week.
Bids are noted at 1.1060-50 with stops below 1.1020.
Offers are tipped at 1.1085/95 and more above with stops reported above 1.1110.

On the data front, Italy will kick off with trade balance and then EU's construction output. We have a European Council Summit meeting on Brexit. Also, ECB member Coeure will participate in G20 FinMin and Cenbank deputy governors meeting in Washington, D.C. as well as the annual IMF/World Bank annual meetings.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Oct 2019 04:30GMT

USD/JPY - 108.66.. Dollar trades narrowly in subdued Fri's Asian morning after retreating from Thursday's 2-1/2 month peak of 108.93 to 108.46. Despite intra-day brief rise above Tuesday's 108.89 high to 108.93 in European morning as news of a EU/UK Brexit deal boosted risk sentiment across the board, triggering also a rise in U.S. yields, however, profit taking quickly emerged and price erased intra-day gain after Northern Ireland's DUP rejected the deal, price later fell to session lows of 108.46 at New York midday.

Although range trading is in store in Asia, as long as 108.45/46 sup holds, recent upmove is likely to head toward next daily chart target at 109.31 (August high) after consolidation. Bids are noted at 108.60-50 with stops touted below 108.40.
Offers are tipped at 108.90/00 with stops reported above 109.00.

T.G.I.F., BOJ's Deputy Gov. Amamiya will speak at an annual financial event in Tokyo at 06:35GMT while Japan's FinMin Aso will hold press conference as chair of G20 in Washington D.C. at 17:15GMT. The only eco. dat due out from the U.S. is September leading indicator at 14:00GMT.
We also have a number of Fed officials scheduled to speak later today, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Oct 2019 04:30GMT

GBP/USD - 1.2912... The British pound dropped in New Zealand to session lows at 1.2850 (Reuters) after UK lawmakers rejected PM Johnson's Brexit plan and voted to request an extension. However, lack of follow-through selling triggered profit-taking and price staged a short-covering rebound to 1.2921 at Asian open before stabilising.

Cable's intra-day fall to 1.2850 suggests recent upmove has made a temporary top at Friday's fresh 5-1/2 month peak at 1.2990 and consolidation with downside bias remains.
Offers are now seen at 1.2930/40 and more above at 1.2950/60 with stops building up above there whilst initial bids are noted at 1.2800/10.

In the absence of economic data from UK, market focus will remain on Brexit related headlines, as PM Johnson sent an unsigned letter to the EU requesting for an extension.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 22 Oct 2019 04:30GMT

USD/JPY - 108.65... Although the greenback retreated from yesterday's high at 108.66 to 108.46 in New York morning, price erased its losses and rebounded to 108.63 in New York afternoon and then higher to 108.72 in thin Asian trading as Japanese markets remain closed today for the Emperor's Coronation holiday. However, lack of follow through buying triggered profit-taking and price retreated to 108.62 in Asian morning.

Dollar's retreat after intra-day break of yesterday's high at 108.66 to 108.72 suggests recovery from Monday's 108.30 low has ended there and consolidation with downside bias remains for weakness to 108.46, then 108.30.
Offers are now lowered to 108.70/80 with stops building up above there whilst initial bids are noted at 108.00/10.

The economic calendar is light today and U.S. will release its existing home sales at 14:00GMT. Furthermore, the Federal Reserve's blackout period has commenced ahead of its policy decision next week.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Oct 2019 04:30GMT

GBP/USD - 1.2849... The British pound proved quite tricky to trade yesterday as despite falling to 1.2889 at New York open after BBC political editor tweeted that government will pull Brexit legislation and push for election if lawmakers vote down bill, price rose briefly but sharply to session highs at 1.3000 as UK Parliament voted for PM Johnson's Brexit deal. However, the pair swiftly erased its gains and tumbled to as low as 1.2862 as lawmakers voted against Johnson's Brexit timetable and then fell further after penetrating said low in Asian morning on sterling's broad-based weakness.

Cable's intra-day break below yesterday's 1.2862 low signals decline from Monday's 5-1/2 month peak at 1.3012 has resumed and further weakness to 1.2810/20 would be seen.
Offers are now lowered to 1.2870/80 and more above at 1.2890/00 with stops building up above there but bids at 1.2790/00 should contain current fall and yield rebound later.

Market focus continues to remain on Brexit related issues as PM Johnson said it was up to the EU to decide whether it wanted to delay Brexit and for how long, after a defeat in parliament made ratification of his deal by the Oct. 31 deadline almost impossible

 

[AceTRaderForex]

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


Intra-Day Market Moving News and Views
Update Time: 24 Oct 2019 04:30GMT


USD/JPY - 108.62... The greenback takes a breather in Tokyo morning and retreated to 108.60 after yesterday's rally. Price traded with a firm bias in Europe yesterday and continued to ratchet higher in New York due partly to a rebound in U.S. yields together with cross-selling in jpy and hit session highs at 108.70 at New York midday.

Dollar's rally from 108.26 to 108.70 on Wednesday suggests pullback from last Thursday's 2-month peak at 108.93 has ended there and consolidation with upside bias remains.

Bids are now seen at 108.50/60 and more below at 108.30/40 with stops building up below there whilst initial offers are seen at 108.90/00.

There is a slew of data being released from the U.S. today but one should pay particular attention to jobless claims at 12:30GMT and manufacturing and services PMI at 13:45GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Oct 2019 04:30GMT

GBP/USD - 1.2840... The British pound went through a roller-coaster ride yesterday as despite initial gain to session highs at 1.2950 in early European morning, price retreated to 1.2875 in Europe before recovering. However, sterling met renewed selling at 1.2927 at New York open and fell to 1.2789 at New York midday on UK Brexit election concerns before staging a short-covering rebound to 1.2866 in New York afternoon and trading sideways in Asia today.

Although cable's recovery after yesterday's selloff from 1.2950 to as low as 1.2789 suggests minor consolidation would be seen in Asian morning before decline from Monday's near 5-1/2 month peak at 1.3012 heads to 1.2748/59 later, bids at 1.2720/30 should contain downside and yield rebound later.

As there is no economic data due from UK today, market focus remains on Brexit and UK politics as House of Commons leader Jacob Rees-Mogg said lawmakers will have a chance on Monday to vote on whether to hold an early national election.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 01 Nov 2019 04:30GMT

USD/JPY - 108.01.. Dollar gained no respite in early Asian trading after y'day's selloff to a 2-week low of 107.93 due to active safe-haven yen buying which started in European morning on media report due to renewed U.S.-China trade concerns after China said to doubt long-term trade deal is possible with U.S. President Trump, falling U.S. yields where benchmark 10-year yield hitting a 2-week low of 1.681% also weighed on the greenback.

Although price remained under pressure n fell marginally to 107.90, release of upbeat China private mfg PMI (see previous update for details) triggered short covering n gave the pair a minor lift. As dlr's reversal from Wed's post-FOMC near 3-month peak at 109.28 signals recent upmove has made a top, downside bias remains for price to head to 107.76, then 107.44 (38.2% r from 114.46), therefore, selling the pair on recovery is the way to go especially tonight's U.S. jobs report comes in weaker than forecast.
Offers are tipped at 108.30/40 n more above with stops above 108.50 while some bids are noted at 107.90-80 with stops below 107.75 n more below 107.40.

T.G.I.F. for Asian traders, however, U.S. will later release the blockbuster U.S. NFP, unemployment rate, average wage earnings, then Markit mfg PMI, construction spending, ISM mfg PMI. We have a number of Fed officials speaking during NY session after recent Fed blackout ahead of the FOMC, see EI section for details of their scheduled speeches.

 

[AceTRaderForex]

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

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

USD/JPY - 108.23.. Dollar moves narrowly in holiday-thinned Asian morning (Japanese market is closed for Culture Day holiday) after a roller-coaster Fri session.

Despite initial jump to 108.25 after release of robust U.S. payrolls, price swiftly erased intra-day gain and fell back to 107.93 due to renewed usd's weakness. The pair later climbed to session highs of 108.32 on selling in yen. Looks like range trading above Friday's near 3-week low at 107.90 (Asia) would continue but expected usd's weakness vs other major currencies suggests selling the pair for another fall is favoured.
Order board is pretty thin today with some offers tipped at 108.25/35 with stops above 108.50 while bids are noted at 107.95-90 with stops below there.

U.S. had moved its clock one hour back to winter time over the w/end. On the data front, we have ISM NY index, durable goods order and factory orders.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 05 Nov 2019 04:30GMT

GBP/USD - 1.2882... The British pound retreated to 1.2910 in European morning yesterday on continued UK Brexit election concerns. Renewed selling at 1.2927 at New York open knocked price down and the pair fell to session lows at 1.2876 in New York afternoon on usd's broad-based strength together with cross-selling of sterling especially vs euro and continues to remain under pressure in Asian morning today.

Cable's selloff to 1.2876 yesterday suggests early pullback from 1.2789 has ended at 1.2975 last Thursday and consolidation with downside bias remains. Offers are touted at 1.2900/10 and more above at 1.2920/30 with stops building up above there, suggesting selling on intra-day recovery is the way to go.

Pay attention to the release of UK services PMI at 09:30GMT. Street forecast is for a slight uptick to 49.7 from previous reading of 49.5.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 Nov 2019 04:30GMT

USD/JPY - 109.08... The greenback takes a breather after yesterday's resumption dollar's recent winning streak. Price traded with a firm bias in Europe and then jumped to 109.22 at New York midday on upbeat U.S. data together with rising U.S. yields, then marginally higher to 109.24 near New York closing. However, failure to penetrate October's 109.28 top triggered profit-taking and price retreated to 109.01 in Tokyo morning.

Although dollar's retreat after yesterday's rise to 109.24 suggests price is not ready to re-test October's 3-month peak at 109.28 yet and range trading is in store.
Bids at 108.90/00 and more below at 108.80/90 should contain downside and yield another rise. Therefore, buying on dips for a resumption of Medium Term upmove is the way to go.

There are a couple of Fed speakers today. Chicago Fed President Evans will speak at 13:00GMT and New York Fed President Williams will participate in a discussion at the "Future of Workforce" event at 14:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Nov 2019 04:30GMT

GBP/USD - 1.2845... The British pound proved quite tricky to trade as despite trading with a firm bias in Asia and edging up to 1.2894 in Europe, then higher to 1.2897 at New York open, price erased its gains and dropped to session lows at 1.2845 in New York afternoon as a Sky News poll showed a drop in support for the Conservative party together with risk aversion on US-China trade concerns. The pair met renewed selling at 1.2861 in Australia and dropped below 1.2845 to 1.2837 in Asian morning today.

Cable's break of yesterday's low at 1.2845 suggests recent decline from last Thursday's high at 1.2975 to retrace early upmove from 1.2789 has resumed and consolidation with downside bias remains. Offers are now seen at 1.2850/60 and more above at 1.2870/80 with stops building up above there whilst initial bids are noted at 1.2800/10.

Market focus is on the Bank of England's Super Thursday. Although it is widely expected that the central bank will keep its rate unchanged at 0.75%, investors should pay attention to Governor Carney's conference at 12:30GMT for comments on forward guidance.

 

[AceTRaderForex]

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

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

USD/JPY - 109.23... The greenback takes a breather after yesterday's rally to a 5-month peak at 109.48. Earlier in the day, despite dropping to dropping to session lows at 108.66, price gained to 109.19 in European morning, then higher to 109.58 in New York afternoon as comments from China's Commerce Ministry increased optimism over US-China trade deal. However, lack of follow-through buying triggered profit-taking and retreated to 109.16 in late New York and continues to remain under pressure in Tokyo morning.

Dollar's break of October's peak at 109.28 to 109.48 yesterday suggests Medium Term upmove from August's 33-month trough at 104.46 has resumed and buying on intra-day dips for a resumption of said uptrend is favored.
Bids are now seen at 109.00/10 and more below at 108.70/80 with stops building up below there whilst initial offers are noted at 109.80/90.

Pay attention to the release of University of Michigan Consumer Sentiment at 15:00GMT. Street forecast is for an uptick to 95.9 from previous reading of 95.5.

 

[AceTRaderForex]

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

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

GBP/USD - 1.2792... The British pound trades sideways in Asia after opening higher to 1.2808 (Reuters) in New Zealand after Friday's selloff from 1.2822 to 1.2769 in New York session after credit ratings agency Moody's turned its outlook on UK to negative and on continued uncertainty over upcoming UK election.

Cable's firm break below last Thursday's low at 1.2794 to 1.2769 Friday suggests consolidation with downside bias remains and selling on intra-day recovery for a resumption of decline from October's 5-month peak at 1.3012 is the favored strategy.
Offers are now seen at 1.2810/20 and more above at 1.2830/40 with stops building up above there whilst initial bids are noted at 1.2710/20.

There is a slew of UK production data due today but particular attention should be given to the release of UK GDP MM and YY at 09:30GMT. Street forecasts are 0.4% and -0.2% vs previous readings of 0.3% and -0.1% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Nov 2019 04:20GMT

GBP/USD - 1.2851... The British pound proved quite tricky to trade yesterday as despite initial rebound to 1.2866 in Asia, price dropped to session lows at 1.2816 on mixed UK jobs data. Price then erased its losses and rallied to an intra-day high at 1.2873 at New York midday on cross-buying in sterling especially vs euro. However, lack of follow-through buying triggered profit-taking and the pair retreated to 1.2843 near New York closing and continues to trade sideways in Asia today.

Cable's rebound from 1.2816 to 1.2873 yesterday suggests the pullback from Monday's high at 1.2897 has ended there and consolidation with upside bias remains and above said resistance would extend upmove from Friday's low at 1.2769 to 1.2918 later.
Bids are now seen at 1.2820/30 and more below at 1.2800/10 with stops building up below there whilst initial offers are noted at 1.2890/00.

There is a slew of UK data due at 09:30GMT but one should pay particular attention to the release of CPI mm and YY.
Street forecasts are -0.1% and 1.6% vs previous readings of 0.1% and 1.7% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Nov 2019 04:20GMT

USD/JPY - 108.77... The greenback gains some respite after yesterday's selloff on risk-averse buying in jpy. Despite rebounding to 109.14 in Europe yesterday, price dropped to 108.67 in New York morning on falling U.S. yields, then marginally lower to 108.66 in New York afternoon on WSJ report that US-China trade talks have "hit a snag". The pair then recovered to 108.86 in Tokyo morning today before retreating on soft China data.

Dollar's re-test of previous support at 108.66 yesterday suggests suggests decline from November's 5-month peak at 109.48 would resume after consolidation and extend towards 108.32.
However, bids at 108.20/30 and more below at 108.00/10 should contain downside and yield rebound later.

There are a slew of speakers from the Federal Reserve due to speak today. Pay particular attention to Fed Vice Chair Clarida's speech on the Fed's review of its monetary policy strategy at the Cato Institute's 37th Annual Monetary Conference at 14:10GMT. U.S. will also release its jobless claims at 13:30GMT. Street forecast is 215k vs previous reading of 211k.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Nov 2019 04:20GMT

GBP/USD - 1.2884... The British pound proved quite tricky to trade yesterday as despite initial fall to session lows at 1.2826 ahead of European open, price rebounded to 1.2866 in European morning before retreating again to 1.2834 ahead of New York open. However, the pair then rose to session highs at 1.2889 on usd's weakness together with cross-buying of sterling especially vs euro and trades with a firm bias in Asia today.

Cable's rise to 1.2889 yesterday suggests recent daily sideways swings after last Friday's rally from 1.2769 to 1.2897 Monday would continue and above said top would bring stronger retracement of decline from October's 5-month peak at 1.3012 to 1.2918.
Bids are now seen at 1.2860/70 and more below at 1.2840/50 with stops building up above there whilst initial offers are noted at 1.2920/30.

In the absence of UK data and any Brexit related news, investors should keep an eye on the election polls as we inch closer to the UK election on Dec. 12.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Nov 2019 04:30GMT

USD/JPY - 108.83... The greenback found renewed buying at 108.49 in European morning on Friday and gained to 108.85 in New York morning on improved risk appetite. Price then rose marginally above this level to 108.87 (Reuters) in New Zealand today before retreating. However, 108.68 contained downside ahead of Asian open and the pair rebounded to 108.84 before stabilising in Tokyo morning.

Dollar's intra-day break above last Friday's high at 108.85 suggests decline from November's 5-month peak at 109.48 has made a temporary low at 108.25 last Thursday and consolidation with upside bias remains for 109.29, therefore trading from long side for a stronger retracement of aforesaid decline is favored.
Bids are seen at 108.60/70 and more below at 108.40/50 with stops building up below there whilst initial offers are noted at 109.30/40.

There will be no data out in Japan later today.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Nov 2019 04:20GMT

GBP/USD - 1.2953... The British pound proved quite tricky to trade yesterday as the pair opened higher in New Zealand on UK election optimism and rose to session highs at 1.2985 in European morning due partly to cross-buying in sterling especially vs euro. However, price then pared its gains and retreated to 1.2943 ahead of New York open before staging a rebound to 1.2972 in New York and then retreating again to 1.2946 in Asian morning today.

Although cable's retreat after yesterday's rally to near 4-week peak at 1.2985 would yield consolidation before re-test of October's 5-month peak at 1.3012 is seen, break would extend erratic upmove from September's low at 1.1959 to 1.3047 later.
Bids are now seen at 1.2940/50 and more below at 1.2920/30 with stops building up below there whilst initial offers are noted at 1.3020/30, suggesting buying on intra-day dips is the way to go.

Pay attention to the release of UK CBI trends survey at 11:00GMT. Street forecast is -30 vs previous reading of -37.