AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 22 Jan 2020 04:30GMT

EUR/USD - 1.1078.. Euro remains on the back foot in Asia, trading just one tick above Monday's near 3-week trough of 1.1077.

Despite catching a bid in European morning at 1.1086 on upbeat German ZEW data n rising to session highs of 1.1118 in New York morning, the pair erased intra-day gain as usd met renewed broad-based buying, price later tumbled 1.1081 ahead of the close. Intra-day weakness suggests recent decline from December's 4-1/2 month peak at 1.1239 is en route to next daily target at 1.1041, so trading from short side is the way to go.
Offers have been lowered to 1.1085/90 n more above with stops above 1.1120.
Some bids are touted at 1.1075-70 with stops below 1.1065.

On the data front, France will release January business climate at 07:45GMT n then Italy's industrial orders and sales data at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Jan 2020 04:30GMT

USD/JPY - 109.65.. Dlr remains on the back foot in hectic Asian trading on renewed safe-haven yen buying as news of closure of airport n train station of Wuhan, the city in China where coronavirus started triggered another bout of risk-off trade, the pair fell from 109.86 (AUS) to 109.61 after tripping stops below 109.75.

Dlr's intra-day firm break of yesterday's 109.77 low signals recent upmove has made a temp. top at last Friday's 7-1/2 month peak at 110.28 n downside bias remains for stronger retracement to 109.44, reckon 109.00/05 would hold. Offers have been lowered to 109.75/85 with stop above 110.00. Some bids are noted at 109.55-45 area with stops below there.

U.S. will release a slew of eco. data starting with initial weekly jobless claims, leading index n Kansas City mfg index.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 24 Jan 2020 04:30GMT

USD/JPY - 109.45... Dollar met renewed selling at 109.86 in Australia yesterday and fell to 109.50 in European morning on dampened risk trading due to concerns over spreading of coronavirus in China as well as selloff in the Nikkei-225. Despite rebounding to 109.65 ahead of New York open, the pair then dropped to a 13-day low of 109.27 in New York on falling U.S. Treasury yields before recovering to 109.57 at Asian open today.

Yesterday's fall below Tuesday's 109.77 low to 109.27 suggests recent decline from last Friday's fresh 7-1/2 month peak at 110.28 has once again resumed and further weakness to 108.95/00 would be seen after consolidation, however, reckon 108.62/66 should hold and yield rebound. Offers are tipped at 109.55/60 with stop above 109.80 while bids are noted at 109.10-00 with stops below there.

On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 14:45 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 Jan 2020 04:30GMT

EUR/USD - 1.1015... The single currency went through a roller-coaster ride yesterday. Although price rebounded to 1.1025 in Asian morning, the pair retreated to 1.1013 in European morning, and then dropped to an 8-week low at 1.0999 in New York before staging a recovery to 1.1022 near the close on cross-buying in euro, then higher to 1.1027 at Asian open today before weakening.

Although euro's rebound from yesterday's 1.0999 low suggests recent decline from December's 4-1/2 month peak at 1.1239 has made a temporary low, as long as 1.1037 res holds, consolidation with downside bias remains, below 1.0999 would bring re-test of November's 1.0982 bottom, break would extend to 1.0942/45. Offers are tipped at 1.1035 with stops above there while bids are noted at 1.1005-00 with stops below 1.0980 and more below 1.0940.

On the calendar front, Germany will kick off with GfK consumer sentiment and import prices at 07:00 GMT, then France will release consumer confidence at 07:45 GMT, followed by Italy's manufacturing business confidence and consumer confidence at 09:00 GMT, producer prices at 10:00 GMT. Swiss will also release investor sentiment at 09:00 GMT

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 30 Jan 2020 04:30GMT

USD/JPY - 108.94.. Dlr remains under pressure in early Asian trading due to return of risk-off trade after staging a intra-day bounce from 108.99 in New York morning to 109.25 in post-FOMC trading. Traders citing dlr's weakness after Fed Chair J. Powell's comments at post-FOMC presser who expressed concerns on the negative impact of the coronavirus, his remarks led to intra-day selloff in US yields where the benchmark 10-year fell from 1.667% to as low as 1.579%, just above its 3-month bottom at 1.57% hit earlier on Tuesday.

Intra-day weakness to 108.91 on renewed safe-haven yen buying suggests recovery from Monday's 2-week low at 108.74 has ended y'day at 109.26 (AUS) and stops below 108.70 are now in focus.
Offers have been lowered to 109.05/15 and more above with stops reported above 109.30.

BOJ Deputy Gov. Amamiya will be delivering a speech at Jiji news agency's seminar un Tokyo at 07:00GMT. Later, U.S. will release a slew of eco. data at 13:30GMT, pay attention to Q4 core PCE n PCE prices, Q4 advance GDP n Deflator n weekly jobless claims.

 

[AceTRaderForex]

AceTraderFx Jan 31: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 31 Jan 2020 04:30GMT

EUR/USD - 1.1031.. The single currency moves narrowly in subdued Asian morning after extending near term rise from Wednesday's fresh 8-week low of 1.0993 to 1.1038 in New York session as soft U.S. eco. data prompted short covering in the euro.

Although rebound from 1.0993 suggests recent decline from December's 4-1/2 month peak at 1.1239 has made a temp. low and range trading is in store.
Offers are tipped at 1.1035/40 with stops touted above 1.1060.
Bids are noted at 1.1010-00 with stops reported below 1.0980.

The euro area countries will release a slew of eco. data, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 03 Feb 2020 04:30GMT

USD/JPY - 108.56.. Although dlr re-tested Fri's 3-week low of 108.32 in Australia but buying interest quickly emerged n lifted the pair. Price ratcheted higher at Tokyo open n climbed to 108.57 due to intra-day rebound in U.S. yields (benchmark 10-year recovered from Friday's 3-1/2 month low of 1.5030%, circa 1.5358%).

Despite intra-day recovery, intra-day sharp selloff in Chinese stocks where benchmark Shanghai Composite down 8% at the open in reaction to recent China coronavirus concerns should prevent further strong usd's recover, therefore, trading the greenback from short side in anticipation of another bout of safe-haven yen buying is recommended.
Offers are tipped at 108.60-70 with stops above 108.80 while some bids are noted at 108.40-30 with stops below there.

U.S. will later release a slew of eco. data starting with Markit mfg PMI, construction spending n ISM mfg PMI. We also have Atlanta Fed President Bostic (non-voting member in 2020) speaking at 21:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 04 Feb 2020 04:30GMT

EUR/USD - 1.1060.. Euro trades quietly in Asia following y'day's 'cabel-led' decline from 1.1095 (AUS) to 1.1037 in NY morning, however, renewed buying in eur vs yen n sterling lifted price to 1.1066 near New York midday.

Despite last week's rally from a fresh 8-week trough of 1.0993 (Wed) to as high as 1.1096, subsequent weakness to 1.1037 suggests range trading is in store, a firm break of 1.1037 would signal recovery is over, then price would head back towards 1.1093. On the flip side, if euro climbs above 1.1096, then outlook would turn bullish for stronger retracement of recent fall to 1.1208/18, possibly towards 1.1142 later this week.
Offers are tipped at 1.1070/80 with stops above 1.1100 n bids are noted at 1.1045-35 with stops below 1.1030.

On the data front, we have a slew of eco. data from the euro area countries, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 05 Feb 2020 04:30GMT

EUR/USD - 1.1040.. The single currency moved narrowly in subdued trading on Tuesday as market focus was on the Japanese yen n sterling. Price met renewed selling at 1.1064 at European open n edged lower due to intra-day selloff in sterling, despite a strg bounce in cable, euro hit session lows of 1.1034 in New York morning due to unwinding of long eur/gbp cross positions.

Euro's decline from 1.1096 (Friday) to 1.1037 Monday, then 1.1034 y'day suggests early correction from last Wednesday's 8-week trough at 1.0993 has ended and consolidation of downside bias is in store.
Offers are tipped at 1.1050/60 and more above with stops above 1.1070/80 while bids are noted at 1.1035-25 with stops below 1.1015.

On the eco. data front, today is PMI day in the euro area countries. Italy will kick off with Markit services PMI, then the same fm France, Germany, the EU as well as EU's retail sales. ECB's Vice President de Guindos and ECB Chief Economist Lane were scheduled to speak in European morning.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 Feb 2020 04:30GMT

USD/JPY - 109.83 .. Dlr remains on the front foot in Asian trading following y'day's resumption of this week's rise to a near 2-week high of 109.84 in NY due to return of risk sentiment on rally in U.S. yields n U.S. equities following release of robust U.S. ADP private payrolls, boosting market expectation of an upbeat reading in Fri's U.S. NFP.

Intra-day brief break of said NY high suggests upside bias remains for gain to 110.00 after consolidation, however, loss of upward moemntum is expected to cap price below Jan's 7-1/2 month peak at 110.28.
Bids have been raised to 109.60-50 n more below with stops below 109.25-20 while offers are tipped at 109.90/00 with some stops abv there, more stops are touted above 110.30.

U.S. will later release initially weekly jobless claims, labor costs n productivity. Also, we have Dallas Fed President Kapan (FOMC voter) speaking at an economic forum in Dallas at 14:15GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Feb 2020 04:30GMT

USD/JPY - 109.91.. Dlr pared yesterday's gain in Asian morning n retreated to 109.82 as news of more people contracting coronavirus on a cruise liner off Japan gave market a reality check recent outbreak is not being contained.

Despite extending Thursday's gain n initial brief break of o/n NY high at 109.99 to 110.02 in Australia, price fell on broad-based safe-haven yen buying following negative coronavirus
news pressured dlr in Asia, suggesting the pair is unlikely to re-test Jan's 7-1/2 month peak unless we have robust U.S. jobs data later today.
Offers are tipped at 109.95/00 n more abovr while bids are noted at 109.80-70 with stops touted below 109.50.

T.G.I.F., all eyes are on release of U.S. jobs data, payrolls, ave. earnings n unemployment rate at 13:30GMT, so we have to wait a bit until then.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Feb 2020 04:30GMT

EUR/USD - 1.0952.. The single currency is nursing loss in subdued Asian morning after extending recent decline to a 4-month trough of 1.0943 in hectic trading on Friday following intra-day wild swings in post-NFP New York morning.

As Friday's break of daily pivotal sup at 1.0982 (2019 November low) suggests correction from 2019 28-month bottom at 1.0880 (October) has ended, re-test of this key sup is on the cards after consolidation, therefore, selling the euro on recovery is the way to go and there is market chatter of stops building up below there.
Order book is fairly thin on this Monday with some offers tipped at 1.0965/75 with stops above 1.0985 while bids are noted at 1.0945-35 with some stops below 1.0925.

On the data front, we have Italy's industrial output and EU's Sentix investors' confidence at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 11 Feb 2020 04:30GMT

EUR/USD - 1.0914.. Euro remains on the back foot in subdued Asian trading (Japanese market is closed for holiday) after Monday's resumption of recent downtrend to a fresh 4-month trough of 1.0909 in NY after tripping stops below 1.0940 due to broad-based selling in euro vs usd, yen, gbp n chf partly on political uncertainty in Germany (see earlier update on Monday for details).

Despite initial marginal weakness to 1.0908 after Asian open, lack of follow-through selling has helped euro to stage a minor recovery. Expect range trading before prospect of further fall towards 2019 28th bottom at 1.0880 where more stops are touted below there.
For now, offers have been lowered to 1.0925/35 with stops above 1.0945 while some bids are noted at 1.0905-00 and more above 1.0880 (profit taking).

Although no eco. data is due out from the euro area countries except release of European Commission economic growth forecasts at 10:00GMT, we have a no. of ECB officials speaking today, pay particular attention to ECB President Largards's speech at 14:00GMT and then ECB Chief Economist Lane's speech at 17:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Feb 2020 04:30GMT

USD/JPY - 109.87.. Despite yesterday's retreat in New York session from 109.96 to 109.73 due to usd's broad-based retreat, price edges higher in early Asian trading on modest yen-selling across the board due to improved risk sentiment on modest gains in U.S. stocks n rebound in U.S. yields.

The daily sideways swings following dlr's retreat from Friday's 2-week high of 110.02 to 109.54 in post-NFP New York suggest further choppy trading would continue, however, as long as 109.26/31 sup area holds, prospect of re-test of Jan's 7-1/2 month peak at 110.28 remains, therefore, buy the pair on dips is still favoured.
Bids are noted at 109.70-60 with stops below 109.50 n more stops are touted below 109.25.
Offers are tipped at 109.95/00 with stops reported above 110.30.

U.S. will release mortgage applications n federal budget which will go unnoticed. Pay attention to 2nd of the 2-day testimony by Fed Chiarman J. Powell before the Senate Banking Committee at 15:00GMT, we also have Fed's Daily n Fed's Harker speaking during the day (see our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Feb 2020 04:30GMT

EUR/USD - 1.0872.. Euro languishes near y'day's 3-week trough of 1.0866 in subdued Asian trading. Despite intra-day cable-led recovery to 1.0925 in European morning, sellers quickly emerged and price edged lower, then intra-day fall accelerated in New York morning to 1.0866 after tripping stops below 2019 trough at 1.0880.

The fact that euro is unable to stage a recovery in Asia suggests price would remain on the back foot n is en route to next chart obj. at 1.0840 (2017 low) after consolidation. Therefore, trading the single currency across the board is the way to go but oversold condition is expected to keep price above 1.0800.
Offers have been lowered to 1.0880/90 with some stops above 1.0900 while bids (profit taking) are touted at 1.0850-40.

The euro area countries will release a slew of eco. data starting with France's unemployment, then Germany's CPI n HICP plus EU's economic growth forecast. We also have a number of ECB officials scheduled to speak during the day, pls refer to our EI page for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Feb 2020 04:30GMT

USD/JPY - 109.80.. Dlr maintains a relatively steady posture in subdued Asian morning on Friday after yesterday's volatile swings. Despite Thursday's intra-day fall from 110.09 (AUS) to 109.81 ahead of Tokyo open on safe-haven yen buying after China reported a sharp jump in coronavirus cases under a new method, then to session lows of 109.63 in Europe, rebound in U.S. yields as well as renewed usd's broad-based strength lifted price back to 109.86 near New York midday.

Although decline from 110.13 (Wednesday) suggests price is not ready to re-test Jan's 7-1/2 month peak at 110.28, as long as 109.54 sup holds, daily upside bias remains.
Bids are noted at 109.70-65 with stops below 109.50 and offers are tipped at 110.00/10 with stops reported above 110.30.

T.G.I.F., BOJ Deputy Gov. Amamiya is scheduled to speak at a seminar organised by Tokyo Stock Exchange at 10:00GMT. U.S. will release a slew of eco. data (see our EI page for details), pay attention to release of key U.S. Jan's retail sales at 13:30GMT and then University of Michigan consumer confidence at 15:00GMT.
Cleveland Fed President Mester (FOMC voter) will speak at a financial event in Florida at 16:45GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 17 Feb 2020 04:30GMT

GBP/USD - 1.3048... The British pound went through a roller-coaster ride on Friday as despite briefly edging up to 1.3063 in early European morning, price dropped to session lows 1.3001 at New York open as newly appointed Finance Minister Rishi Sunak reminded Cabinet Ministers that they needed to find 5% in budget savings together with cross-selling of sterling especially vs euro. However, price then pared its losses and staged a rebound to 1.3053 near New York closing and continues to trade with a firm bias in Asia today.

Cable's strong rebound from Friday's low at 1.3001 suggests pullback from last Thursday's high at 1.3069 has ended there and re-test of said resistance is seen. Above would extend upmove from last Monday's 2-1/2 month trough at 1.2873 to 1.3090/00. However, offers at 1.3110/20 should cap upside and yield retreat later.

In the absence of major economic data from UK today, range trading is expected inside a narrow range ahead of European open and investors should keep an eye on the eur/gbp cross.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Feb 2020 04:30GMT

EUR/USD - 1.0828... Despite rebounding to 1.0850 in holiday-thinned trading yesterday, the single currency met renewed selling below previous resistance at 1.0861 and retreated to 1.0830. The pair then broke through last Friday's near 3-year trough at 1.0828 to 1.0824 in Asian morning on concerns over eurozone's growth. However, lack of follow-through selling triggered short-covering and price recovered to 1.0829.

Euro's intra-day break of last Friday's low at 1.0828 signals medium-term decline has once again resumed and further weakness to 1.0780/90 would be seen after consolidation.
Offers are now lowered to 1.0840/50 and more above at 1.0850/60 with stops building up above there whilst initial bids are noted at 1.0770/80.

Market focus is on the release of German ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are for a drop to 21.5 and -10.3 vs previous readings of 26.7 and -9.5 respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Feb 2020 04:30GMT

USD/JPY - 109.97... The greenback went through a roller-coaster ride yesterday as despite dropping to session lows at 109.66 in Asian morning on risk-averse buying in jpy, price erased its losses and rebounded to 109.79 ahead of European open. The pair hen ratcheted higher to an intra-day high at 109.94 in New York morning on usd's broad-based strength before retreating to 109.78. However, renewed buying there lifted the pair and price gained to 109.97 in Asia today.

Dollar's strong rebound from 109.66 to 109.94 yesterday and intra-day break of this resistance suggests early pullback from last week's high at 110.13 has ended at 109.63 Thursday and consolidation with upside bias remains. Above said res would bring gain towards January's 7-1/2 month peak at 110.28 later.
Bids are now seen at 109.70/80 and more below at 109.60/70 with stops building up below there whilst initial offers are noted at 110.40/50.

There is a slew of U.S. data to be released today including PPI at 13:30GMT along with several speeches from Federal Reserve officials but market focus will remain on the release of FOMC minutes at 19:00GMT. The central bank had kept its rates on hold despite continuous pressure from President Trump for Powell to cut rates.
Hence, investors would be looking for any hints on the path the bank will take in its rate setting policy.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Feb 2020 04:30GMT

USD/JPY - 111.29... The greenback takes a breather after yesterday's spectacular rally from 109.86 in Australia to a 9-1/2 month peak at 111.58 in New York morning as improved risk appetite triggered broad-based selling in the jpy and retreated to 111.12 in Tokyo morning today on profit-taking. However, renewed buying interest there contained downside and the pair recovered to 111.32.

Dollar's rally above January's 7-1/2 month peak at 110.28 to 111.58 yesterday suggests erratic upmove from 2019 33-month trough at 104.46 (August) has once again resumed and further gain to 111.80/90 would be seen.
Bids are now seen at 111.10/20 and more below at 110.90/00 with stops building up below there whilst initial offers are noted at 112.00/10.

Pay attention to the release of US jobless claims at 13:30GMT. Street forecast is 210k vs previous reading of 205k. Elsewhere, Richmond Fed President Thomas Barkin will participate in a talk hosted by Harvard University at 18:20GMT.