AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 110.30... The greenback proved quite tricky to trade yesterday as despite dropping from 111.25 in New Zealand to session lows at 109.67 at European open due to a fall in U.S. Treasury yields. However, the pair then erased its losses and rallied to a 1-month peak at 111.59 in New York morning on usd's broad-based strength before retreating sharply in Asian morning today on profit-taking to 110.23.

Dollar's selloff from yesterday's 1-month peak at 111.59 suggests 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 a stronger retracement to 109.67, then 109.32.
Offers are now seen at 110.50/60 and more above at 110.70/80 with stops building up above there whilst initial bids are noted at 109.20/30.

Pay attention to the release of US manufacturing and services PMI at 13:45GMT.
Street forecasts are for a sharp drop to 42.8 and 42.0 from previous readings of 50.7 and 49.4 respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0817... The single swung wildly in hectic trading on Tuesday. Price initially gained to 1.0822 in Asian morning before rallying to session highs at 1.0887 due partly to cross-buying of euro especially vs sterling.
However, the pair erased its gains and tumbled to 1.0747 in New York afternoon due to usd's broad-based strength on the surge in U.S. stocks. Price then found renewed buying there and rebounded to 1.0823 in Asia today before stabilising.

Although price has recovered after yesterday's selloff from 1.0887 to 1.0747 and minor consolidation would be seen, as said move signals upmove from Monday's near 3-year trough at 1.0637 has made a temporary top there, downside bias remains. Offers are now seen at 1.0830/40 with stops building up above there whilst initial bids are noted at 1.0720/30.

 

[AceTRaderForex]

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

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

USD/JPY - 110.59... The greenback proved quite tricky to trade yesterday as despite dropping to session lows at 110.76 in Asian morning, price gained to 111.56 in early European morning, then ratcheted higher to session highs at 111.67 on usd's broad-based strength. However, lack of follow-through buying triggered profit-taking and price tumbled to 110.47 in Asian morning today before staging a recovery on news that the U.S. Senate will begin voting on the usd 2 trillion coronavirus economic stimulus bill.

Dollar's selloff from yesterday's high at 111.67 after failure to break Tuesday's 4-week peak at 111.71 signals recent upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 110.09, then 109.80/90. Offers are now seen at 110.90/00 and more above at 111.10/20 with stops building up above there whilst initial bids are noted at 109.60/70.

US will release its final GDP figures at 12:30GMT. Street forecasts for GDP and GDP deflator are unchanged at 2.1% and 1.3% respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 108.34... The greenback remained under pressure in Asia and Europe yesterday on usd's broad-based weakness and intra-day decline accelerated in New York after data showed U.S. jobless claims surged past the 1982 record and hit a historic high of more than 3 million and hit an intra-day low at 109.22 in New York afternoon. The pair then met renewed selling at 109.71 in Australia and tumbled to 108.30 in Asian morning on usd's continued weakness.

Dollar's intra-day fall below yesterday's low at 109.22 signals decline from Tuesday's 1-month peak at 111.71 remains in progress and further weakness to 108.20 would be seen after consolidation. Offers are now lowered to 108.70/80 and more above at 108.90/00 with stops building up above there whilst initial bids are noted at 107.90/00.

Pay attention to the release of U.S. personal income and personal spending at 12:30GMT. Street forecasts are 0.4% and 0.2% vs previous readings of 0.6% and 0.1% respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1029.. The single currency pares intra-day loss on minor short covering ahead of Tokyo lunch break after extending decline from yesterday's high of 1.1143 (AUS) to 1.1085 in Asian morning, intra-day spike down to said Asian low was attributed to a sudden bout of usd demand.

There has been market chatter in last few sessions of volatile trading in NY morning later today due to purchase of usd by fund managers to re-balance porfolio for quarter end valuation at currency fixing at 15:00GMT and this may keep euro on the back foot. Therefore, the fall from Friday's 1.1147 high to 1.0985 today confirms near term upmove from last Mon's near 3-year bottom has made a temp. top and choppy consolidation with downside bias is in store. Offers are noted at 1.1045/55 n more at 1.1070 while some bids are touted at 1.0985/75 with stops below 1.0950.

We have data dump from euro area countries during European morning session, pleases refer to to Economic Indicators page for details and pay attention to German unemployment data at 07:55GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 01 Apr 2020 04:30GMT

USD/JPY - 107.71.. Dlr swings wildly in Asia on the first trading day in March. Despite initial break of yesterday's low at 107.47 (New York) to 107.26 after tripping stops below there, buying interest (Japanese importers) emerged and quickly lifted price to 107.94 before easing.

As the decline from yesterday's 108.72 to 107.26 signals recovery from Monday's 9-day low has ended, downside bias remains for decline from last week's 107.71 peak to head to 106.80/90 after consolidation, weakening of downward momentum should keep price above 106.45 ahead of release of Friday's key jobs data and in particular, the unemployment rate.
Offers are tipped at 107.90/00 with some stops noted above 108.10 whilst bids are noted above 107.40-30 with stops reported below 107.10, then below 107.00.

On the data front, U.S. will release MBA mortgage applications, Markit mfg and services PMIs and construction spending.

 

[AceTRaderForex]

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

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

USD/JPY - 107.51.. Dlr pares recent losses in early Asian trading after hitting a 2-week trough of 106.93 in New York afternoon on Wed as renewed weakness in the Dow n falling Treasury yields (benchmark 10-year fell from March's 1.279% to a 3-week low of 0.571%) led to safe-haven yen buying, however, the pair caught a bid at Tokyo open and climbed to 107.56.

Intra-day rebound on broad-based firmness in the greenback suggests recent decline from March's 111.71 peak suggests temp. low has possibly been made n above 107.65 (New York high) would bring stronger retracement towards 107.94 (Wednesday's top). Bids are noted at 107.30-20 n more at 107.10/00 with stops below 106.90 while offers are tipped at 107.55/65 with stops above there, more offers are touted at 107.90/95 with stop above 108.00.

U.S. will release a slew of eco. data (see EI page for details), however, traders are eagerly paying attention to release of the much-awaited initial weekly jobless claims at 12:30GMT, last week's reading came to a 3.28 million, street forecasts range from 1.5-5.25 million, if actual comes in higher than prev. week, may see a brief dips due to safe-haven buying but market will turn to usd buying and will then lift usd/yen.

 

[AceTRaderForex]

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

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

USD/JPY - 107.88.. Despite remaining on the back foot initially on Thursday and fell from Asian 107.56 high to session lows of 107.03 after blowout U.S. initial weekly jobless claims which hit a all-time record high of 6.65 million vs previous week's 3.28 million, the greenback shrugged off this horrific number and moved higher due to renewed safe-haven usd demand plus rebound in U.S. stocks, the pair later jumped to 108.09, then 108.20 ahead of Tokyo open today b4 easing on profit taking.

Although yesterday's rally from 107.03 to 108.20 today suggests decline from last week's 111.71 peak and made a temp. low at 106.93 (Wednesday) n further sideways swings are in store ahead of release of key U.S. jobs data, selling dlr on intra-day rise is still favoured as this week's high at 108.72 (Tue) should cap upside and yield another fall.
Below 107.55/65 would be 1st signal recovery over n head back towards 106.93.
Bids are noted at 107.85/80 and more below with stops touted below 107.50 while offers are tipped at 108.15/20 with some stops above there, however, more selling interest is tipped at 108.60/70 with stops above 118.80.

U.S. will release the key jobs data at 12:30GMT, then later Markit services PMI followed by ISM non-mfg PMI. Market will largely ignore March unemployment rate as the cut-off date was in the week of Mar 12m, therefore, would not reflect the horrendous weekly jobless claims readings in last 2 consecutive weeks. April's unemployment may well jump to near double digit but we have to wait.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0813.. The single currency gains respite in subdued Asian trading after having fallen for 5 consecutive days last week from 1.1143 (Monday) to as low as 1.0771 on Fri due to renewed usd's broad-based strength.

As euro's decline after staging an impressive rally from March's near 35-year bottom at 1.0637 to 1.1147 earlier suggests said correction, although strong, has ended n selling the pair on intra-day recovery for further weakness towards 1.0747 after consolidation is favoured.
Offers are tipped at 1.0825/35 and more above with stops above 1.0860 whilst bids are noted at 1.0800/1.0790 with stops below 1.0770.

Following release of very downbeat PMIs from the euro area countries on Friday, the only eco. data due out today is Germany's industrial orders at 06:00GMT, one can expect the figure to be dismal n hence another round of euro selling.

 

[AceTRaderForex]

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

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

USD/JPY - 108.82.. Despite extending rebound from yesterday's New York low at 108.85 to 109.27 in Australia earlier today, failure to re-test Monday's 1-week high of 109.37 triggered broad-based yen buying, the pair fell back to 108.73 ahead of Tokyo lunch break after tripping stops below 108.85.

Although dlr's intra-day weakness suggests near term upmove from last week's low at 106.93 (Wed) has made a temporary top and sideways swings are in store.
Offers have been lowered to 109.10/20 and more above with stops reported above 109.40. Bids are noted at 108.75/70 with stops touted below 108.60.

Eco. calendar is very light in the U.S. where 2nd-teir Redbook sales and JOLTS job openings will be released.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Apr 2020 04:30GMT

USD/JPY - 108.75.. The greenback remained on the back foot in early Australian trading due to usd's broad-based weakness in New York session yesterday together with falling U.S. yields. Price fell ahead of Tokyo open on a bout of safe-haven yen buying n tumbled to 108.51 after tripping stops below Tuesday's 108.68 low, however, price quickly pared intra-day losses on intra-day broad-based usd's rebound at Asian open n climbed back to 108.87.

Although the decline from 109.37 (Monday) suggests near term upmove from last Wednesday's 2-week trough has made a temp. top, intra-day rebound would bring consolidation with mild upside bias, above 109.14 (European high yesterday) would encourage for re-test of 109.37 later today.
Bids are noted at 108.70/65 with stops below 108.50 while offers are tipped at 109.00/10 with stops above 109.15 and more more stops have been reported above 109.40.

ON the data front, although the only data due out from the U.S. is MBA mortgage applications, pay attention to release of FOMC minutes which may shed some more light on last month's emergency meeting and rate cut in the aftermath of COVID-19 pandemic which hit U.S. economy n sent millions out of work abruptly.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0855
Euro swung wildly in hectic Wednesday's session n price also chopped in directionless but volatile Asian trading on Thursday.

Although the single currency shrugged off intra-day selling after price tumbled from 1.0887 to 1.0831 in early European morning on news EU FinMins had failed to agree on a coronavirus rescue package for the EZ countries in the wake of COVID-19 pandemic which threatened to put EZ economy into a deep and protracted recession, failure to move higher and subsequent retreat in New York session suggests price would trade below 1.0926 (Tuesday high) as traders await another day of meeting which is likely to produce positive result later in the day, if so, then euro will rally to 1.0950/60.
Bids are noted at 1.0850-40 with stops touted below 1.0830 while offers are tipped at 1.0885/95 with some stops above 1.0900, more stops are reported above 1.0930.

Euro countries will release a slew of eco. data (please refer to our EI section for details) as well as minutes of last ECB's monetary policy meeting at 11:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Apr2020 04:30GMT

USD/JPY - 107.66.. Dlr is runring loss in relatively subdued Asian morning after yesterday's intra-day selloff from 108.52 to an 11-day trough of 107.51 in holiday-thin New York afternoon due partly to active cross-buying of yen esp vs euro.

Despite staging a recovery to 107.79 in New Zealand morning, price came under renewed selling n fell back to 107.54 shortly after Asian open. As yesterday's fall signals corrective rise from April's 106.93 low has ended last week at 109.37 (Mon), selling the greenback on recovery is the way to go.
Offers are noted at 107.80/90 n more above with stops above 108.25.
Some bids are touted at 107.55-50 with stop below there.

On the data front, U.S. will later release some 2nd-tier data starting with import n export prices, then Redbook sales. We have several Fed presidents scheduled to speak during New York time, pls refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Apr 2020 04:30GMT

EUR/USD - 1.0981.. The single currency maintains biddish tone in subdued Asian morning after climbing yesterday to a near 2-week high of 1.0987 in New York, then 1.0991 in Australia.

As Tuesday's gain above 1.0967 (Monday high) confirms recent erratic rise from April's 1.0637 bottom remains in force, upside bias remains for further headway to 1.1003 (61.8% r of fall from 1.1147-1.0637), however, reckon 1.1039 res would cap upside and yield a long-overdue retracement of said upmove.
For now, buying euro on dips is favoured with bids noted at 1.0965-55 with stops below 1.0945 while offers are tipped at 1.0990/00 with stops touted above 1.1010.

The euro area countries will release inflation data today starting with France's CPI, then the same from Italy. EU FinMins will meet again via video conference to discuss further support for the EZ countries in the wake of COVID-ap pandemic n ECB's President Lagarde and ECB's Panetta will also participate in the meeting for a second day.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Apr 2020 04:30GMT

EUR/USD - 1.0884.. Euro remains on the back foot in Asian trading after yesterday's wild swings in European n New York sessions.

Despite falling from a 2-week peak of 1.0991 (AUS) to as low as 1.0857 as usd caught a bid on renewed risk-aversion, release of downbeat U.S. retail sales prompted broad-based long liquidation in the greenback and lifted euro back up to 1.0939 before drifting lower in late New York trade as buying dried up. Intra-day weakness to 1.0876 in Asia has retained bearishness for decline from 1.0991 to retrace recent rise from April's 1.0769 bottom to head back towards 1.0831 target.
Offers are tipped at 1.0900/10 n more above with stops above 1.0940.
Bids are touted at 1.0870/60 with stops below 1.0850.

The euro area countries will release a slew of eco. data (see our EI section for details) but traders' focus is on U.S. initial weekly jobless claims where another blow out number will trigger another round of usd buying on risk aversion.

 

[AceTRaderForex]

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

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

USD/JPY - 107.74.. Dlr pares o/n gain in New York and fell from intra-day high of 108.08 (AUS) to 107.66 due partly to cross-buying of yen after yesterday's roller-coaster ride.

Trading on Thur proved to be 'tricky' to say he least as despite rising from 107.36 (AUS) to 108.08 in Asia, price fell steadily to session lows of 107.17 on safe-haven yen buying after dismal U.S. initially weekly jobless claims jumped to a record 22 million, however, broad-based usd buying on risk-off trade sent price higher to 107.94 near New York close, then 108.08 today before easing.

Looks like choppy trading inside 107.94-108.08 range would continue n a daily above the upper level needed to turn outlook bullish for stronger gain to 118.59/61 early next week.
Offers are tipped at 108.00/10 with stops above 108.15 while bids are noted at 107.60-50 with stops below there.

T.G.I.F., the only data due out from the U.S. is leading index for March and we have St. Louis Fed President scheduled to speak at 13:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.80.. Despite Friday's intra-day fall from 108.08 (AUS) to 107.31 in New York morning, price moved narrowly in New York afternoon n the pair caught a bid it Tokyo open on broad-based yen selling and climbed back to 107.89.

As price is likely to remain confined inside recent established range of 107.94-108.08, sell dlr on further intra-day rise in anticipation of another fall towards 107.17 is favoured.
Offers are tipped at 107.85/95 with stops above 108.10 whole bids are noted at 107.45-35 with stops below 107.10 n more stops are reported below 106.90.

U.S. eco. calendar is very light today with Chicago national activity index for March being the only data due out later today at 12:30GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0832.. Euro falls in hectic trading as the greenback catches a bids in Asian morning. O/n selloff in oil prices together with weakness in U.S. stocks n intra-day decline in U.S. stock futures are prompted broad-based usd buying on risk aversion.

Euro fell from 1.0871 (AUS) to 1.0827 ahead of Tokyo lunch break after tripping stops below Monday's 1.0842 low. Intra-day weakness suggests re-test of last Friday's 9-day trough of 1.0813 would be seen next n stops below 1.0800 are in focus.
Offers have been lowered to 1.0850/60 with some stops above 1.0875, more stops are reported above 1.0900.
Bids are noted at 1.0820/15 with stops below there. Therefore, trading the single currency from short side is the way to go.

The euro area countries will release a slew of eco. data staring with Germany's ZEW eco. sentiment n current conditions, then EU's ZRW eco. sentiment, readings of these data are expected to come out worse then street forecast n would attract euro selling.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0854.. The single currency is currently trading roughly where it was this time yesterday after a roller-coaster Tuesday's session. Despite falling steadily from 1.0871 (AUS) in Asia on a bout of safe-haven usd buying and hit intra-day low of 1.0817 in New York morning, price erased intra-day losses and briefly jumped to 1.0880 due to broad-based long liquidation in usd positions, however, price quickly retreat to 1.0842 as buy dried up and moved narrowly in New York afternoon.

Although yesterday's rebound from 1.0817 suggests further choppy swings above last Friday's 9-day trough at 1.0813 would continue, as long as reaction high at 1.0896 (Monday) holds, recent decline from April's 1.0991 peak would resume after consolidation and head towards projected target at 1.0786/90.
Offers are tipped at 1.0880/90 with stops above 1.0900/05.
Bids are noted at 1.0830/20 with stops reported below 1.0810.

On the data front, Italy will release industrial orders and industrial sales at 08:00GMT n later at 14:00GMT, we have EU's consumer confidence index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0810.. The single currency remains on the back foot in relatively subdued Asian trading on Thursday after tumbling yesterday from 1.0885 (Europe) to a 2-week trough of 1.0804 as the greenback caught a bid in New York session due to renewed safe-haven buying.

As yesterday's break of last week's low at 1.0813 (Friday) signals recent decline from 1.0991 (April high) has finally resumed, downside bias remains for weakness towards projected target at 1.0786 (see our technical page for details), however, reckon previous April's bottom at 1.0769 would remain intact today.
Offers are tipped at 1.0820/25 with some stops touted above 1.0845 while bids are noted at 1.0805/00 with stops below there.

Today is PMI day in the euro area countries n one can expect pretty downbeat readings in the wake of the COVID-19 pandemic. Pls refer to our economic indicator page for details of reco. releases.
The European Council will meeting in Brussels today to
discuss post-coronavirus economic plan but according to earlier mdeia reports, EU diplomats and officials are expected to defer a final decision on how to finance the bloc's economic recovery, so this may add further pressure on the euro.