AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Nov 2019 05:20GMT

GBP/USD - 1.2913... Although the British pound edged up to session highs at 1.2970 at European open, price erased its gains and dropped to 1.2927, then to an intra-day low at 1.2911 in New York afternoon on cross-selling of sterling especially vs eur. The pair then recovered to 1.2930 in Australia before falling in tandem with euro to 1.2901 in Asian morning.

Cable's selloff after Monday's rise to 1.2985 suggests upmove from November's low at 1.2769 has temporary top there and consolidation with downside bias remains. Therefore, selling on intra-day recovery for a stronger retracement to 1.2868 is favored. 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 1.2860/70.

Data to be released on Wednesday :
Germany producer prices, U.S. MBA mortgage application, FOMC minutes, and Canada CPI.

 

[AceTRaderForex]

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

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

USD/JPY - 108.67... The greenback found renewed buying at 108.58 ahead of Asian open and gained to 108.70 in Tokyo morning due partly to the rise in Nikkei-225 and U.S. yields. Earlier, despite dropping to 108.29 in Asia yesterday, the pair erased its losses and gained to 108.69 at New York open on dollar's broad-based strength before trading sideways.

Dollar's rebound from yesterday's low at 108.29 suggests further choppy trading above last Thursday's low at 108.25 would continue and marginal gain is likely, however, offers at 108.80/90 and more above at 109.00/10 should limit upside and yield retreat later. Bids are now seen at 107.80/90 with stops building up below there.

Pay attention to the release of U.S. manufacturing PMI, services PMI (14:45GMT) and University of Michigan Consumer Confidence (15:00GMT).
Street forecasts are 51.5, 51.0 and 95.7 vs previous readings of 51.3, 50.6 and 95.7 respectively. Investor focus also remains on the continuing U.S.-China trade war dispute and one should keep an eye on the newswires for headlines relating to this.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Nov 2019 04:30GMT


GBP/USD - 1.2898... The British pound proved quite tricky to trade yesterday as despite opening higher to 1.2865 in New Zealand, price dropped to session lows at 1.2841 in Asian morning. However, the pair found renewed buying there and gained to 1.2885 in European morning, then higher to session highs at 1.2913 (Reuters) on cross-buying of sterling especially vs euro before retreating to 1.2878 in New York as an election poll showed the Conservatives lead shrinking. Price then staged another recovery to 1.2904 near New York closing before trading sideways.

Cable's retreat from 1.2913 yesterday suggests the recovery from last Friday's low at 1.2822 has ended there and consolidation with downside bias remains, therefore trading from short side is the way to go. Offers are now seen at 1.2910/20 with stops building up above there whilst initial bids are noted at 1.2840/50.

Data to be released on Tuesday :
Germany GfK consumer sentiment, Swiss non-farm payrolls, Italy trade balance non-EU, UK BBA mortgage approvals.
U.S. building permits, good trade balance, wholesale inventories, redbook, monthly home price, CS home price, new home sales, Richmond Fed manufacturing index.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 27 Nov 2019 05:30GMT

USD/JPY - 109.11... The greenback proved quite tricky to trade yesterday as despite initial jump to 109.20 in Asia on positive US-China trade news, price erased its gains and dropped to session lows at 108.88 in European morning only to rebound again to 109.14 in New York afternoon. The pair then found renewed buying at 109.02 near New York closing and recovered to 109.14 in Asia today due partly to a recovery in U.S. yields.

Dollar's rebound from 108.88 suggests the pullback from 109.20 has ended there and consolidation with upside bias remains and above 109.20/29 would bring a re-test of November's 5-month peak at 109.48. Bids are now seen at 108.90/00 and more below at 108.80/90 with stops building up below there whilst initial offers are noted at 109.60/70.

There is a slew of U.S. data to be released today as markets will be closed for Thanksgiving holiday tomorrow. Pay particular attention to U.S. GDP at 13:30GMT. Street forecasts for GDP qq and GDP deflator are 1.9% and 1.7% vs previous readings of 1.9% and 1.6% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 28 Nov 2019 05:30GMT

EUR/USD - 1.1006... The single currency remained under pressure in Asia yesterday and continued to ratchet lower in European session on cross-selling of euro especially vs sterling, hitting session lows at 1.0993 in New York morning. However, lack of follow-through selling triggered short-covering and price rebounded to 1.1010 in Australia today before trading sideways.

Euro's break of Monday's 10-day low at 1.0004 to 1.0993 yesterday suggests a re-test of November's trough at 1.0990 is forthcoming. Therefore, selling on intra-day recovery for a resumption of decline from October's peak at 1.1179 to 1.0950/60 is favored. Offers are now seen at 1.1020/30 and more above at 1.1030/40 with stops building up above there whilst initial bids are noted at 1.0940/50.

There is a slew of data to be released from the eurozone today. Pay particular attention to the release of EU business climate, economic sentiment and consumer confidence at 10:00GMT. Street forecasts are -0.14, 101.0 and -7.2 vs previous readings of -0.19, 100.8 and -7.2 respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 Nov 2019 04:30GMT

GBP/USD - 1.2909... The British pound proved quite tricky to trade yesterday as despite retreating to 1.2920 in Asia yesterday after a jump to 1.2953 on YouGov's election poll result, price rebounded to 1.2951 ahead of European open. However, failure to penetrate said resistance triggered profit-taking and the pair dropped to session lows at 1.2900 in subdued North American trading due partly to cross-selling in sterling especially vs euro before trading sideways.

Cable's fall from 1.2953 to 1.2900 yesterday suggests the recovery from last Friday's low at 1.2822 has ended there and consolidation with downside bias remains for weakness to 1.2866.
Offers are now seen at 1.2920/30 and more above at 1.2940/50 with stops building up above there whilst initial bids are noted at 1.2840/50.

Data to be released on Friday :
New Zealand building permits, Japan Tokyo core CPI, Tokyo CPI, unemployment rate, industrial output, construction orders, consumer confidence, housing starts, UK GfK consumer confidence, Germany retail sales, unemployment change, unemployment rate, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicator, Italy unemployment rate, CPI, GDP, EU HICP, core HICP, unemployment rate, and Canada GDP, producer prices, budget balance.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 Dec 2019 05:30GMT

GBP/USD - 1.2912... The British pound has proved quite tricky to trade recently as despite dropping from 1.2922 to 1.2879 in European morning on Friday, price rallied to 1.2945 near New York closing on usd's broad-based weakness. The pair then opened lower in New Zealand and retreated to 1.2906 after a poll that released over the weekend showed a narrowing lead for Johnson's Conservatives Party.

Cable's gap-down open suggests the recovery from last Wednesday's low at 1.2827 has ended at 1.2953 on Thursday and consolidation with downside bias remains for weakness to 1.2879, then 1.2841. Offers are now seen at 1.2940/50 with stops building up above there whilst initial bids are noted at 1.2820/30.

Pay attention to the release of UK manufacturing PMI at 09:30GMT. Street forecast is for an unchanged reading at 48.3.

 

[AceTRaderForex]

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

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

USD/JPY - 109.08... The greenback finally gained some respite and staged a rebound to 109.14 in Asian morning today after yesterday's selloff in New York session to 108.93 on usd's broad-based weakness on the back of poor U.S. data together with falling U.S. yields and stocks.

Dollar's selloff from a near 6-month peak at 109.72 to 108.93 yesterday suggests Medium Term upmove has made a temporary top there and consolidation with downside bias would be seen for stronger retracement to 108.48. Offers are now seen at 109.20/30 and more above at 109.40/50 with stops building up above there whilst initial bids are noted at 108.30/40.

In the absence of U.S. economic data today, investors should keep an eye on US-China trade related headlines.

 

[AceTRaderForex]

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

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

USD/JPY - 108.53... The greenback gained some respite and staged a short-covering rebound after yesterday's selloff from 109.20 in Asia to as low as 108.49 in New York on risk-averse buying in jpy after President Trump said a trade deal with China may be delayed until after the 2020 U.S. Presidential election. However, renewed selling emerged at 108.67 at Asian open today on comments from China's Foreign Ministry and knocked price back down to 108.49.

Dollar's fall to 108.49 suggests decline from Monday's 6-month peak at 109.72 remains in progress and selling on intra-day recovery for a stronger retracement of MT upmove is favored. Offers are now seen at 108.60/70 and more above at 108.80/90 with stops building up above there whilst initial bids are noted at 108.10/20.

There is a slew of U.S. data to be released today but pay particular attention to ADP employment at 13:15GMT and ISM non-manufacturing PMI at 15:00GMT . Street forecasts are 140k and 54.5 vs previous readings of 125k and 54.7 respectively.

 

[AceTRaderForex]

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

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

GBP/USD - 1.3116... The British pound went through a hectic session yesterday as despite falling to session lows at 1.2983 at European open, price jumped after penetrating October's 1.3012 top to 1.3063 on the back of upbeat UK services PMI and continued to ratchet higher on increasing expectation that the Conservative Party will win the election next week with a majority. Price then hit a near 7-month peak at 1.3120 in New York morning and continues to trade with a firm bias in Asia today.

Cable's intra-day strength after yesterday's rally to 1.3120 suggests Medium Term upmove from September's 34-month trough at 1.1959 remains in progress and further gain to 1.3150/60 would be seen. Bids are now raised to 1.3100/10 and more below at 1.3080/90 with stops building up below there whilst initial offers are noted at 1.3170/80.

As there is no economic data due from the UK today, market focus remains on UK's election next week and the polls that will be released in the lead up to it. A narrowing lead for the Conservatives could trigger long liquidation on the pound and send it lower.

 

[AceTRaderForex]

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

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

GBP/USD - 1.3158.. The British pound remains on the front foot after continuing its recent winning streak to a 7-month peak of 1.3166 near New York midday due to broad-based buying in sterling esp. vs the euro (eur/gbp cross tumbled to a fresh 2-1/2 year trough of 0.8431) as market's optimism of a Conservative election win (instead of a hung Parliament) triggered speculative buying as well as short covering in the pound.

With the daily chart continues to point for a higher cable ahead of Dec 12 U.K. general election, one can expect cable to head towards 1.3383 (2019 peak in Mar) next week. Having said that, short-term risk remains for the pound especially if U.S. NFP comes in as per market forecast of a 180K increase, then a long liquidation may occur but position takers should use any 50-75 points pullback as buying opportunity to load up more cable.
For now, bids are noted at 1.3150-30 are with some stops below 1.3120, more stops are touted below 1.3080.
Offers are tipped at 1.3165/75 with some stops reported abv 1.3200.

Eco. calendar is pretty light in the U.K. with Halifax home prices being the only data due out at 08:30GMT.

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[AceTRaderForex]

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

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

USD/JPY - 108.58.. Asian traders who did not follow the N. American market will be forgiven to think Fri's U.S. jobs data must be soft as current price is trading below Fri's Asian range of 108.66-78.

Who would have guessed the greenback jumped from 108.53 to 108.91 after blowout U.S. non-farm payrolls but only to erase intra-day gains n later tumbled to 108.53 after U.S. Economic Advisor Kudlow's mildly downbeat comments on latest U.S.-China trade talks. Intra-day softness after early release of upbeat Japan's Q3 GDP suggests downside bias remains for re-test of last week's low at 108.44 (Wednesday), break would extend decline from last Monday's 6-month peak at 109.72 to 108.25 but reckon Nov's low at 107.90 would hold.
Offers are tipped at 108.70/80 with stops above 109.00 whilst bids are seen at 108.55-8 with stops below 108.40 and more below 108.25.

After Friday's release of monthly blockbuster U.S. jobs data, no economic indicator is due out today.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Dec 2019 04:30GMT

GBP/USD - 1.3155... The British went through a roller-coaster ride yesterday as despite falling to 1.3130 in New Zealand, price jumped to a 7-month peak at 1.3180 ahead of European open on continued optimism that UK Prime Minister Boris Johnson's Conservative Party will win with majority in this week's election. However, price then pared its gains and retreated to 1.3136 in New York after an ICM poll showed a narrowing lead for the Conservatives, then marginally lower to 1.3135 in Australia today before staging a rebound.

Cable's intra-day rebound from 1.3135 suggests the pullback from yesterday's high at 1.3180 has ended there and trading from long side for a resumption of MT uptrend is favored.
Bids are now seen at 1.3140/50 and more below at 1.3120/30 with stops building up below there whilst initial offers are noted at 1.3210/20.

There is a slew of UK data to be released today but particular attention should be given to UK's GDP release at 09:30GMT. Street forecasts for mm and yy are 0.1% and 0.7% vs previous readings of -0.1% and 0.9% respectively.

 

[AceTRaderForex]

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

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

GBP/USD - 1.3135... The British pound proved quite tricky to trade yesterday as despite initial drop to session lows at 1.3133 in European morning, price gained to 1.3190 on cross-buying in sterling especially vs euro. Renewed buying at 1.3156 in New York morning lifted the pair to an 8-1/2 month peak at 1.3215 on expectation that the Conservatives Party will win Thursday's election with a majority. However, the pair swiftly erased its losses and tumbled to 1.3107 (Reuters) in Australia after YouGov's final poll showed a narrowing lead for the Conservatives.

Cable's selloff from 1.3215 to 1.3107 suggests upmove from September's trough at 1.1959 has made a temporary top there and stronger retracement to 1.3066 would be seen.
Offers are seen at 1.3140/50 and more above at 1.3160/70 with stops building up above there whilst initial bids are noted at 1.3050/60.

In the absence of major economic data from UK, market focus remains on the election on Thursday and with no more polls expected to be released, one should keep an eye on the eur/gbp cross.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Dec 2019 04:30GMT

USD/JPY - 108.54... The greenback swung wildly yesterday as despite initial bounce to session highs at 108.85 in Asia, price retreated to 108.67, then marginally lower to 108.66 in Europe before recovering. The pair then met renewed selling at 108.76 in New York afternoon and dropped to session lows at 108.47 on usd's weakness in post-FOMC trading, then lower to 108.46 at Asian open today before recovering.

Dollar's fall to 108.47 yesterday and intra-day break of this level suggests a re-test of last week's low at 108.44 is seen, break would extend to 108.20/25. Therefore, selling on intra-day recovery for resumption of decline from December's 6-month peak at 109.72 is favored.
Offers are now seen at 108.60/70 and more above at 108.80/90 with stops building up above there whilst initial bids are noted at 108.20/30.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecast is for an increase to 213k from previous reading of 203k.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Dec 2019 04:30GMT

EUR/USD - 1.1174... The single currency swung wildly yesterday as despite edging up to 1.1144 in Asian morning, price retreated to 1.1124 in European morning before rising briefly to session highs at 1.1154 on President Lagarde's mildly hawkish comments during her press conference after the ECB decided to keep its rates unchanged. However, the pair then fell to session lows at 1.1104 in New York afternoon on usd's strength before staging a recovery to 1.1134 near New York closing. Price then jumped in tandem with sterling to 1.1199 in Australia before retreating on profit-taking.

Euro's intra-day rise above October's 2-month peak at 1.1179 signals upmove from 2019 trough at 1.0880 (October) has once again resumed and further gain to 1.1220/30 would be seen.
Bids are now seen at 1.1160/70 and more below at 1.1140/50 with stops building up below there whilst initial offers are noted at 1.1240/50.

Pay attention to Italy's industrial data at 09:00GMT. Elsewhere, ECB Vice President Luis de Guindos will speak at an economic forum in Madrid at 08:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1129... The single currency went through a roller-coaster session on Friday as despite rising in tandem with cable to a 6-month high 1.1199 in Australia, price retreated to 1.1164 ahead of European open and then fell sharply to session lows at 1.1112 in New York afternoon before stabilising. The pair then opened marginally higher and gained to 1.1133 in New Zealand before trading sideways.

Euro's selloff from Friday's 6-month high at 1.1199 to 1.1112 suggests upmove from 2019 trough at 1.0880 (October) has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1071.
Offers are now seen at 1.1140/50 and more above at 1.1160/70 with stops building up above there whilst initial bids are noted at 1.1050/60. Hence, selling on intra-day recovery is the way to go.

There is a slew of PMIs to be released from the eurozone but one should pay particular attention to Germany's manufacturing and services PMIs at 08:30GMT. Street forecasts are for an uptick to 44.5 and 52.0 from previous readings of 44.1 and 51.7 respectively.

 

[AceTRaderForex]

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

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

GBP/USD - 1.3289... The British pound proved quite tricky to trade yesterday as despite rising to session highs at 1.3422 ahead of European open, price erased its gains and dropped to 1.3324 in European morning on cross-selling of sterling especially vs euro, then marginally lower to 1.3322 at New York midday before recovering. However, renewed selling at 1.3353 near New York closing and fell to 1.3236 at Asian open on report of Brexit transition period (see MMN below) before staging a short-covering rebound.

Cable's intra-day fall below yesterday's low at 1.3322 to 1.3236 suggests decline from last Friday's 1-1/2 year peak at 1.3516 has once again resumed.
Offers are now raised to 1.3300/10 and more above at 1.3320/30 with stops building up above there whilst initial bids are noted at 1.3200/10.

Pay attention to UK's jobs data at 09:30GMT. Street forecast for claimant count is 20.2k, down from previous reading of 33.0k. Average weekly earnings is expected at 3.4%, down from 3.6% previously.

 

[AceTRaderForex]

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

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

GBP/USD - 1.3096... The British pound fell to 1.3236 as Asian open yesterday on news PM Johnson set a hard deadline for Brexit in December 2020. Intra-day decline accelerated in Europe and price fell to 1.3157, then lower to session lows at 1.3100 on cross-selling of sterling especially vs euro on increasing concerns of a hard Brexit. The pair then met renewed selling at 1.3138 near New York closing and dropped to 1.3073 in Asia today before recovering.

Cable's intra-day fall below yesterday's low at 1.3100 suggests decline from Friday's 1-1/2 year peak at 1.3516 remains in progress and further weakness to 1.3051 would be seen.
Offers are now seen at 1.3110/20 and more above at 1.3130/40 with stops building up above there whilst initial bids are noted at 1.3030/40.

There is a slew of data out at 09:30GMT and one should pay attention to CPI mm and yy. Street forecasts are 0.2% and 1.4% vs previous readings of -0.2% and 1.5% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Dec 2019 04:30GMT

USD/JPY - 109.59... The greenback traded inside a narrow range in thin-trading yesterday as focus continued to remain on other dollar majors. The pair remained under pressure in Asia and dropped to 109.40 in early European morning before rising to session highs at 109.62 at New York open due to a rally in U.S. Treasury yields. The pair then briefly rose above this level to 109.67 at Asian open today before retreating again on news that the U.S. House of Representatives voted on Wednesday to impeach President Donald Trump.

Dollar's retreat from 109.67 suggests further choppy trading below December's 6-month peak at 109.72 would continue, however, bids at 109.30/40 and more below at 109.10/20 should contain current pullback and yield another rise later. Therefore, buying on dips for a resumption of upmove from August's low at 104.46 is favored.

Pay attention to Bank of Japan's rate decision (circa 03:00GMT) and although no change in policy is expected, investors should pay attention to Governor Kuroda's press conference at 06:00GMT to see if he gives any hints on whether the central bank will look to ease its policy further or not.

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