AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Feb 2020 04:30GMT

EUR/USD - 1.0788... The single currency proved quite tricky to trade yesterday as despite edging up to 1.0815 in Asia, price dropped to a fresh near 3-year trough at 1.0778 at European open. However, lack of follow-through selling triggered short-covering and the pair rallied to session highs at 1.0820 in New York morning due partly to cross-buying of euro especially vs sterling. Price then met renewed selling there and retreated to 1.0784 near New York closing before stabilising in Asia today.

Although euro's brief break of Wednesday's low at 1.0783 to 1.0778 yesterday suggests medium-term decline has resumed and marginal weakness is likely to be seen, bids at 1.0750/60 should contain current fall and yield a much-needed correction later today.

There is a slew of PMIs due from the eurozone today but investors should pay particular attention to Germany's manufacturing and services PMI at 08:30GMT. Street forecasts are for a drop to 44.8 and 53.8 from previous readings of 45.3 and 54.2 respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0828... The single currency opened lower on risk-aversion and dropped to 1.0811 in New Zealand after Friday's resumption of upmove from last week's near 3-year trough at 1.0778 to 1.0863. However, the pair found renewed buying there and rebounded to 1.0842 at Asian open before retreating again.

Despite euro's intra-day gap-down open to 1.0811, subsequent rebound suggests the pullback from Friday's high at 1.0863 is over and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove to 1.0900/10.
However, offers at 1.0920/30 should cap current rise and yield retreat later.

Pay attention to the release of Germany Ifo business climate, current conditions and expectations at 09:00GMT. Street forecasts are 95.1, 98.6 and 92.1 vs previous readings of 95.9, 99.1 and 92.9 respectively.
Elsewhere, ECB Executive Board member Philip Lane will speak at 17:00GMT at the Booth Policy forum in New York.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Feb 2020 04:30GMT

USD/JPY - 110.89... The greenback proved quite tricky to trade yesterday as despite opening lower to 111.22 in New Zealand yesterday, price gained to session highs at 111.68 at Asian open. However, renewed selling there knocked price down and the pair tumbled to an intra-day low at 110.34 in New York afternoon as fears of a global pandemic triggered risk-aversion together with a selloff in U.S. stocks and yields (DJI ended the day 3.56% lower). Price then pared some of its losses and staged a strong rebound to 111.03 in Tokyo morning today as Japanese markets resume trading after yesterday's holiday.

Dollar's recovery after yesterday's resumption of decline from last Thursday's 9-1/2 month peak at 112.22 to 110.34 suggests consolidation is in store before prospect of another fall to 110.10/20 later.
Offers are now raised to 111.10/20 and more above at 111.30/40 with stops building up above there whilst initial bids are noted at 109.90/00.

There is a slew of U.S. data due today but pay particular attention to the release of US consumer confidence at 14:00GMT. Street forecast is for a slight uptick to 132.0 from previous reading of 131.6.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Feb 2020 04:30GMT

EUR/USD - 1.0866... The single currency proved quite tricky to trade yesterday as despite initially rebounding 1.0867 in Asian morning, price dropped to session lows at 1.0831 ahead of New York open on cross-selling of euro especially vs sterling. However, the pair erased its losses and rallied to an intra-day high at 1.0890 in New York afternoon on usd's broad-based weakness before retreating to 1.0863 in Asia today on profit-taking.

Euro's break above Monday's high at 1.0871 to 1.0890 yesterday suggests upmove from last Thursday's near 3-year trough at 1.0778 has resumed and further gain to 1.0925 would be seen after consolidation, however, offers at 1.0950/60 would limit current rise and yield a much-needed correction later.

There isn't much to report on the data front from the eurozone but there are a few speakers from the European Central Bank scheduled to speak today, including President Christine Lagarde at 13:30GMT

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 27 Feb 2020 04:30GMT

EUR/USD - 1.0910... The single currency proved quite tricky to trade yesterday as price initially rose from Asian low at 1.0863 to 1.0897 in early European morning, then briefly spiked up to 1.0908 ahead of New York open on cross-buying of euro especially vs sterling. The pair then erased its gains and dropped to session lows at 1.0856 in New York morning before rebounding strongly to 1.0900 in New York afternoon. The pair found renewed buying at 1.0878 near New York close and rose to 1.0914 in Asian morning today before stabilising.

Although intra-day break above yesterday's high at 1.0908 signals corrective upmove from last Thursday's near 3-year trough at 1.0778 has resumed and marginal gain is likely to be seen, offers at 1.0920/30 should limit current rise and yield a much-needed correction later.

Pay attention to the release of EU business climate, economic sentiment, services sentiment and consumer confidence at 10:00GMT. Street forecasts are -0.28, 102.8, -7.3, 11.2 and -6.6 vs previous readings of -0.23, 102.8, -7.3, 11.0 and -6.6 respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 28 Feb 2020 04:30GMT

EUR/USD - 1.0986... The single currency traded with a firm bias in Asia yesterday and gained to 1.0947 in early European morning. The pair continued to ratchet higher and hit an intra-day high at 1.1005 in New York morning on usd's broad-based weakness together with cross-buying of euro especially vs sterling on renewed Brexit concerns surrounding EU and UK's trade talks. Price then retreated to 1.0966 in New York afternoon on profit-taking before rebounding again to 1.1004 in Australia today.

Euro's rally to 1.1005 yesterday signals corrective upmove from February's near 3-year trough at 1.0778 remains in progress and further gain to 1.1040 would be seen, however, offers at 1.1060/70 would limit upside and yield a much-needed retreat later.

There is a slew of data out from the eurozone today but one should pay particular attention to Germany's inflation data at 13:00GMT. Street forecasts for CPI mm and CPI yy are 0.3% and 1.7% vs previous readings of -0.6% and 1.7%.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 Mar 2020 04:30GMT

USD/JPY - 108.22... The greenback opened lower in New Zealand and extended its recent losing streak to a near 5-month trough at 107.00 (Reuters) as dovish comments from Fed's Powell on Friday together with concerns of the coronavirus increased speculation that the Federal Reserve will cut rates at its next meeting. However, the pair erased its losses and rallied to 108.26 in Asian morning due to the rise in Nikkei-225 (currently up by 234 points or 1.11%).

Dollar's intra-day rise from 107.00 suggests decline from February's 9-1/2 month peak at 112.22 has made a temporary low there and consolidation with upside bias remains for stronger retracement to 108.52.
However, offers at 108.80/90 would cap current up move and yield retreat later.

Pay attention to the release of US ISM manufacturing PMI at 15:00GMT. Street forecast is for a slight decrease to 50.5 from previous reading of 50.9.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1140... The single currency retreated briefly to 1.1039 ahead of European open, however, price found renewed buying and resumed its recent winning streak and rose to 1.1163 at New York open, then to a 1-1/2 month peak at 1.1185 in New York afternoon due partly to cross-buying of euro especially vs sterling before retreating to 1.1125 at New York close, then marginally lower to 1.1121 in Asian morning today.

Intra-day rebound from 1.1121 suggests the pullback from yesterday's high at 1.1185 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend to 1.1200/10.
Therefore, buying on dips for a resumption of upmove from February's near 3-year trough at 1.0778 is favored. However, offers at 1.1230/40 would cap current rise and yield retreat.

Pay attention to the release of EU HICP and core HICP at 10:00GMT. Street forecasts are 1.2% and 1.3% vs previous readings of 1.4% and 1.3% respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1165... The single currency proved quite tricky to trade yesterday as despite edging up to 1.1155 in Asia, price dropped to 1.1101 in European morning, then lower to session lows at 1.1096 at New York open. However, the pair erased its losses and rallied to an intra-day high at 1.1213 in New York on usd's broad-based weakness on the Federal Reserve's surprise 50 basis points rate cut before retreating swiftly to 1.1142 on profit-taking. Later, price recovered to 1.1194 in New York afternoon before easing in Asian morning.

Euro's rise above Monday's high at 1.1185 to 1.1213 yesterday suggests upmove from February's near 3-year trough at 1.0778 has resumed and further gain towards daily resistance at 1.1239 would be seen after consolidation. However, offers at 1.1250/60 would cap current rise and yield a much-needed correction later.

Pay attention to the release of EU retail sales mm and yy at 10:00GMT. Street forecasts are 0.6% and 1.1% vs previous readings of -1.6% and 1.3% respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 111.42... The single currency retreated in Asia yesterday after Tuesday's rise to a 2-month peak at 1.1213 and dropped to 1.1144 ahead of European open before rallying to an intra-day high at 1.1186 in early European morning. However, renewed selling there knocked price down and the pair tumbled to session lows at 1.1096 in New York morning due partly to cross-selling of euro especially vs sterling. Later, the pair rebounded to 1.1144 in New York afternoon and continues to trade with a firm bias in Asia today.

Euro's strong rebound from yesterday's low at 1.1096 signals pullback from Tuesday's high at 1.1213 has ended there and consolidation with upside bias remains for gain to 1.1185/90.
However offers below said top at 1. 1.1200/10 would limit current rise and yield retreat.

 

[AceTRaderForex]

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

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

USD/JPY - 105.85... The greenback met renewed selling at 107.73 in Australia yesterday and dropped to 107.46 in Asia, then lower to 106.80 in European morning. The pair continued to ratchet lower and fell to a near 6-month trough at 105.98 at New York closing after penetrating Wednesday's low at 106.86 due to the selloff in U.S. stocks (Dow Jones ended the day down by 969 points or 3.58%). Despite staging a minor rebound to 106.34 in Tokyo morning, price fell below yesterday's low to 105.84 due to the plunge in Nikkei-225 (currently down by 560 points or 2.63%).

Dollar's intra-day break of yesterday's 25-month trough at 105.98 signals decline from February's 9-1/2 month peak at 112.22 remains in progress and further weakness to 105.75, then 105.40/50 would be seen.
However, bids at 105.10/20 should contain current fall and yield a much-needed correction later.

There is a slew of data to be released from the U.S. today but market focus is on the jobs report at 13:30GMT. Street forecasts for non-farm payrolls and average earnings are 175k and 0.3% vs previous readings of 225k and 0.2% respectively. A surprise to the downside in either of these figures could provide the Federal Reserve with the case of additional monetary policy action.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Mar 2020 04:30GMT

USD/JPY - 102.50... The greenback finally gains some respite in hectic trading on early Monday. Price opened lower on risk-aversion as oil priced tanked and dropped to 103.54 in New Zealand before swiftly rebounding to 104.26 at Tokyo open. However, the pair met renewed selling there and fell to a 40-month trough at 101.57 in Asian morning as U.S. 30-year yields fell to record lows together with a selloff in Asian equities (Nikkei-225 is currently down by 1276 points or 6.15%) before staging a short-covering rebound to 102.70.

Dollar's sharp recovery from 101.57 suggests medium-term decline has possibly made a temporary low there and choppy trading with upside bias would be seen.
However, offers at 102.80/90 should limit upside and yield another fall later.

In the absence of key U.S. economic data today, investors should pay close attention to news headlines as fears about contagion from the coronaviurs continue to linger.

 

[AceTRaderForex]

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

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


EUR/USD - 1.1408... The single currency proved quite tricky to trade yesterday as despite opening higher and rising to a 13-month peak at 1.1494 in Asian morning on usd's broad-based weakness, price retreated to 1.1366 in European morning. The pair then rebounded to 1.1484 in New York morning on cross-buying in euro especially vs sterling but only to retreat again to 1.1373 in Asian morning today.

Euro's intra-day rebound from Asian low at 1.1373 suggests the pullback from yesterday's 13-month peak at 1.1494 has possibly ended and consolidation with uspide bias remains for 1.1470/80, then 1.1494 again. Bids are now seen at 1.1370/80 with stops building up below there whilst initial offers are noted at 1.1510/20.

Pay attention to the release of EU final GDP data for Q4. Street forecasts for qq and yy are to remain unchanged at 0.1% and 0.9% respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1325... The single currency remained on the back foot in Asia yesterday and retreated to 1.1333 ahead of European open. The pair met renewed selling at 1.1401 in early European morning and dropped to session lows at 1.1276 in New York afternoon on renewed usd's strength. However, price pared its losses and rebounded strongly to 1.1328 in Asian morning on usd's weakness together with cross-buying in euro especially vs sterling.

Euro's rebound from yesterday's low at 1.1276 suggests correction from Monday's 13-month peak at 1.1494 has ended there and consolidation with upside bias remains for stronger retracement to 1.1360, then 1.1401.
Bids are now seen at 1.1300/10 and more below at 1.1280/90 with stops building up below there whilst initial offers are noted at 1.1420/30.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1294... The single currency proved quite tricky to trade yesterday as despite trading with a firm bias in Asia and edging up to session highs at 1.1366 in early European morning, price retreated sharply to 1.1302 in Europe before rebounding to 1.1351 at New York open. However, renewed selling there knocked price down and the pair tumbled to 1.1258 in New York morning, then lower to 1.1251 in Australia today. Later, price erased its losses and rallied to 1.1333 in Asian morning on usd's weakness due to falling U.S. yields and stocks.

Euro's intra-day rebound from 1.1251 suggests the correction from Monday's 13-month peak at 1.1494 has possibly ended there and consolidation with upside bias remains for stronger retracement to 1.1351, then 1.1366. However, initial offers at 1.1390/00 should cap current rise and yield retreat later.

Market focus is now on the European Central Bank's rate decision at 12:45GMT, followed by President Lagarde's presser at 13:30GMT. Investors should pay close attention to what steps the central bank will take to contain the current global growth concerns after the Federal Reserve and Bank of England announced surprise rate cuts recently.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1182... The single currency went through a roller-coaster ride yesterday as despite rallying from 1.1047 to 1.1199 in New Zealand on usd's weakness post Fed's surprise rate cut, price retreated again to 1.1086 in Asian morning before rallying to an intra-day high at 1.1236 on cross-buying of euro especially vs sterling. However, renewed selling there knocked price back down to 1.1095 in New York morning before staging another rebound to 1.1186 at New York closing, then 1.1188 in Asia today.

Euro's sharp retreat from 1.1236 to 1.1095 yesterday suggests the recovery from New Zealand low at 1.1047 has ended there and choppy trading with upside bias would be seen for a re-test of said support, break would extend decline from March's 13-month peak at 1.1494 to 1.1000/10 later.
Offers are now seen at 1.1190/00 and more above at 1.1200/10 with stops building up above there whilst initial bids are noted at 1.0990/00.

Pay attention to the release of German ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are for a sharp decline to -29.0 and -30.0 vs previous readings of 8.7 and -15.7 respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 107.26... The greenback briefly spiked up to 107.18 in Asian morning yesterday and continued to trade with a firm bias in European session. Price then hit session highs at 107.86 in New York morning due to a rally in U.S. yields. However, lack of follow-through buying triggered profit-taking and the pair retreated to 107.10 in Asia today due to a pullback in US yields and stock futures.

Dollar's rally to 107.86 yesterday suggests pullback from last Friday's high at 108.50 has possibly ended there and choppy trading with upside bias would be seen for a re-test of said resistance, break would extend upmove from March's 3-1/2 year trough at 101.19 to 108.80/90 before prospect of correction later.
Offers are now raised to 1.1020/30 and more above at 1.1040/50 with stops building up above there whilst initial bids are noted at 1.0900/10.

Pay attention to the release of U.S. building permits mm and housing starts mm at 12:30GMT.
Street forecasts are -0.8% and -4.9% vs previous readings of 9.2% and -3.6% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Mar 2020 10:30GMT

GBP/USD - The British pound has relatively calmed down after yesterday's selloff from 1.2130 in Asian morning to a 35-year bottom at 1.1452 in New York on risk-off trades due to coronavirus fears as investors rushed to hold the greenback. Despite a brief break of 1.1452 to 1.1450 in Australia, cable staged a strong rebound to 1.1663 on short-covering but only to weaken again to 1.1474 in Asian morning. The pair then recovered to 1.1609 at European open before swinging broadly sideways.

Although intra-day retreat from 1.1663 to 1.1474 suggests recovery from 1.1450 has possibly ended, subsequent strong bounce would bring further choppy sideways swings before prospect of another fall, below 1.1474 needed to bring re-test of 1.1450, break would extend long-term decline to 1.1400/05.
Offers are initially tipped at 1.1580 with more above and stops above 1.1650 while bids are noted at 1.1480 and more below with stops below 1.1400.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0726... The single currency proved quite tricky to trade yesterday as despite retreating to 1.0879 in Asian morning, price staged a rebound to 1.0949 at European open. However, renewed selling there and knocked price back down and intra-day decline accelerated in European session and hit 1.0727 at New York open. The pair continued to ratchet lower on usd's broad-based strength and fell to a near 3-year trough at 1.0656 in New York afternoon, then marginally lower to 1.0654 in Asia before staging a short-covering rebound to 1.0749.

Euro's intra-day rebound from 1.0654 to 1.0749 suggests Medium Term decline has possibly made a temporary bottom there and choppy trading with upside bias would be seen for stronger retracement to 1.0803.
Bids are now seen at 1.0690/00 and more below at 1.0650/60 with stops building up below there whilst offers are noted at 1.0830/40.

Pay attention to German producer prices at 07:00GMT. Street forecasts for mm and yy are -0.1% and 0.2% vs previous readings of 0.8% and 0.2% respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 110.10... Although the greenback retreated from Friday's Asian high at 111.36 to session lows at 109.34 on profit-taking from usd's continued strength over last week, price erased its losses and rose to a 3-week peak at 111.50 in New York afternoon on Friday. However, lack of follow-through buying knocked price back down and the pair retreated to 110.01 in Tokyo morning today due partly to a drop in U.S. stock futures.

Dollar's retreat from Friday's 3-week peak at 111.50 signals upmove from March's 3-1/2 year trough at 101.19 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.84.
Offers are now seen at 110.40/50 and more above at 110.70/80 with stops building up above there whilst initial bids are noted at 109.50/60.