AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 107.63.. The greenback continues to move in familiar territory in Asian morning after a roller-coaster rise in hectic Thursday's session. Despite intra-day fall from 107.86 (Asia) to 107.35 in New York, price spiked to 108.03 on Nikkei news BoJ was mulling to scrap its cap on JGB purchases at its next week's policy meeting b4 tumbling to 107.41.

Intra-day recovery to 107.75 suggests choppy sideways swings are set to continue, however, anticipated safe-haven yen buying signals downside bias but as price remains confined inside recent 106.94-108.08, steep fall is unlikely to be seen due to usd's firmness vs G4 counterparts.
Offers are tipped at 107.80/90 n more above with stops reported above 108.10.
Bids noted at 107.45-35 with stops below 107.10 n fairly large stops are touted below 106.90.

T.G.I.F., U.S. will release durable goods n University of Michigan consumer confidence at 12:30GMT n 14:00GMT respectively later today.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0818.. The single currency trades with a firm undertone in quiet Asian morning following an impressive rally from Friday's 1-month trough of 1.0728 (Europe) despite downbeat Ifo data to as high as 1.0829 near New York close due to broad-based long liquidation in the greenback.

Although euro's rebound from 1.0728 suggests recent decline has made a temp. low and 1- days of sideways swings are in store, broad outlook remains bearish for resumption of decline ahead of Thursday's ECB meeting as the central bank is expected to continue its bond purchase programme to keep EZ economy from sinking further in the wake of COVID-19 pandemic.
Order book is pretty thin with offers tipped at 1.0830/40 with some stops above 1.0850.
Some bids are noted at 1.0800-1.0780 are with stops below 1.0770.

No eco. data is due out from the euro area countries, so order flows will have impact on intra-day price swings.

 

[AceTRaderForex]

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

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

USD/JPY - 107.27.. Dlr moves narrowly but with a firm bias due to intra-day usd's broad-based rebound in Asia after hitting an 11-day low of 117.00 in New York morning.

As decline from last week's high at 108.03 to 107.00 yesterday suggests early correction from April's 106.93 bottom has ended, below said sup would extend recent decline to 104.76, then towards 104.45. Therefore, trading dlr from short side in anticipation of resumption of recent fall is cautiously favoured.
Offers are tipped at 107.30/35 with stops above 107.50 and more stops are reported above 107.80.
Bids are noted at 107.10/00 with market chatter of fairly stops below 106.90.

U.S. will release a slew of eco. data, please refer to our economic indicator section for details. The Fed will begin its 2-day monetary policy meeting starting today.

 

[AceTRaderForex]

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

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

USD/JPY - 106.58.. Despite staging a rebound from Tuesday's 5-week low of 106.57 (Europe) to 106.96 in New York morning as the greenback caught a bid in U.S. trading, the pair came under renewed selling in Australia at 106.89 n fell in holiday-thin Asian morning (Japanese markets are closed for Showa Day holiday) n fell to 106.52 as the greenback came under renewed selling.

As yesterday's penetration of prev. April 106.93 low finally ended 4 weeks of choppy consolidation, downside bias remains for recent decline from 111.71 to head to 116.45 target, however, reckon projected sup at 116.05 would contain weakness. Therefore, whilst trading dlr from short side is favoured, profit should be taken on subsequent fall especially ahead of FOMC
monetary policy decision later today.

U.S. will release a slew of eco. data, pay attention to Q1 GDP, core PCE prices n pending home sales. FOMC's policy statement will come at 18:00GMT, then Fed chair will speak at post-FOMC presser at 18:30GMT, however, market is expecting no change in Fed's rate policy.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0950.. Euro remains on the back foot in Asian trading after slipping from Friday's 2-week high of 1.1018 in New York morning, however, profit taking later knocked price to 1.0973 near the close. Renewed selling emerged at 1.0980 in New Zealand pressure the pair steadily lower in tandem with cable to 1.0947 in early Asian trading after tripping light stops below 1.0970.

Although euro's strong retreat from 1.1018 suggests recent upmove has made a temp. top, as long as 1.0935 (Friday's low) holds, mild upside bias remains for marginal gain to 1.1040/50 after consolidation before prospect of correction.
Bids are noted at 1.0945-35 with stops tourted below 1.0920.
Offers are tipped at 1.0990/00 with stops above 1.1020.

Today is PMI day in the euro area countries, Italy will kick off with Markit mfg PMI. then follow by France, Germany n the EU including Sentix investor sentiment.

 

[AceTRaderForex]

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

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

USD/JPY - 106.59.. Dlr remains on the back foot in holiday-thin Asian trading on Tue as Japanese markets are closed for Golden Week holiday until Thursday.

Price swung wildly in choppy Monday session. Although the pair climbed from 106.67 (Asia) to intra-day high of 107.06 in New York morning due to safe-haven usd buying on U.S./China tensions, price hit session lows of 106.64 in New York on renewed yen buying. Despite a recovery to 106.76 on Aust., short-term specs sold dlr and knocked price to 106.52 shortly after Asian open. Having said that, as dlr is expected to gyrate inside recent broad range of 106.37-107.49, steep fall is therefore not envisaged n indicated lower level would hold.
Bids are noted at 106.50-40 with stops reported below 106.30.
Offers are tipped at 106.80/90 and more above with stops above 107.10.

On the data front, the U.S. will later release trade balance, Redbook sales, Markit services PMI n then ISM non-mfg PMI.
We also have a number of Fed officials speaking during New York session (pls refer to EI page for details).

 

[AceTRaderForex]

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

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

USD/JPY - 106.30.. Dlr languishes near Asian fresh 6-week trough of 106.22 after intra-day decline from 106.62 (AUS) penetrated last week's low at 106.37 at holiday-thin Asian open, triggering stops below there.

As price remains on the back foot after intra-day resumption of recent fall from 111.71 (Mar) following an almost 1-week long daily swings, further weakness to projected target at 105.95/00 is envisaged after consolidation due to anticipated safe-haven yen buying due to continued concerns on global economic growth in the wake of Covid-19 pandemic.
Oder book is still fairy thin as Japan is on its 3rd n last day of its Golden Week holiday, offers are tipped at 106.40/50 with some stops above 106.65.
Some bids are noted at 106.25/20 with stops touted below 106.00.

On the U.S. data front, pay attention to release of ADP private payrolls ahead of Friday's key jobs report as U.S. private sector is expected to take the brunt of recent meteoric rise in unemployment. Also, we have Richmond Fed and Atlantic Fed presents scheduled to speak later in NY session.

 

[AceTRaderForex]

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

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

USD/JPY - 106.18.. Dlr pares yesterday's losses and rises in Asian trading on bargaining hunting as Japanese market returns after 3 days of holiday this week.

Traders cited buying by Japanese names (importers) at Tokyo open and lifted price to 106.29 after tripping light stops above 106.20, suggesting range trading above Wednesday's 7-week low at 105.99 (New York) would continue, at least until European open.
As yesterday's break of previous Apr's 106.37 trough confirms recent decline from 111.71 (mar peak) has resumed, mild downside bias remains for marginal weakness but reckon 105.64/65 would hold from here.
Offers are tipped at 107.30/40 with stops above 107.65 while bids are noted at 106.10/00 with stops below 105.90.

U.S. will later release a slew of eco. data but market's focus is again on weekly jobless claims, street forecast is looking for another 3 million people filing for unemployment benefits ahead of Friday's key U.S. jobs report with a forecast of a staggering 16-19% unemployment rate, so recent safe-haven yen buying may continue today

 

[AceTRaderForex]

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

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

EUR/USD - 1.0852.. Despite continuing this week's losing streak yesterday and hitting a 12-day trough of 1.0767 in New York morning, euro erased intra-day losses and rebounded to 1.0834 in New York afternoon due to broad-based profit taking in recent usd positions.

Intra-day break of 1.0834 confirms decline from last Fri's 4-week high at 1.1018 has made a low and consolidation with near term upside bias remains.
Bids have been raised to 1.0815/00 and more below with stops reported below 1.0760.
Offers are tipped at 1.0855/65 with stops above there n more stops are touted above 1.0900.

On the data front, Germany will release imports n exports plus trade balance. We also have Eurogroup meeting with ECB President Lagarde and Panetta particiating via video conferencing.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0848.. Euro inches higher in Asian morning after intra-day retreat in post-NFP New York morning at 1.0875 to 1.0820 (Reuters) early today in New Zealand.

Despite staging a rebound from last week's low at 1.0767 (Thursday) to 1.0875, subsequent retreat suggests recovery has possibly ended and decline from March's 4-week peak at 1.1018 would resume this week, below 1.0800 would add credence to this bearish view.
Order book is pretty thin on Monday with offers are tipped at 1.0850/55 with stops touted above 1.0880 while some bids are noted at 1.0830-20 with stops reported below 1.0800.

The only eco. data due out today is Italy's industrial output n ECB's Governing Council member Nersch will speak on video conferencing at a virtual money conference in Frankfurt at 10:45GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0795.. The single currency remains on the back foot in fairly hectic Asian trading after meeting renewed selling at 1.0810 in Australia, price easily penetrated Monday's 1.0801 low (New York) and weakened to 1.0785 after tripping some stops below 1.0800.

As euro's erratic fall from 1.0875 (Friday) to 1.0785 today signals early recovery from last week's low at 1.0767 (Thursday) has ended, intra-day renewed usd's strength except the yen suggests downside bias remains for re-test of said sup, then towards next chart obj. at 1.0728 later today or tomorrow.
Offers have been lowered to 1.0800/10 and more above with stops above 1.0820, more stops are reported above 1.0850. Some bids are noted at 1.0785/75 with stops touted below 1.0765.

Today, no economic data is due from the euro area countries.

 

[AceTRaderForex]

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

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

USD/JPY - 107.22.. Dlr remains on the back foot in relatively subdued Asian trading on Wed after falling steadily from European morning high of 107.63 yesterday to 107.13 near New York close due to risk-off trades, leading to active unwinding of recent short yen positions.

Although intra-day marginal weakness to 107.10 shortly after Asian open signals recent upmove from last Wednesday's 7-week bottom at 105.99 has made a temp. top at 107.76 on Monday, as long as 107.00/07 area holds, upside bias remains for another rise later today but loss of upward momentum should cap price below daily res at 108.08.
For now, bids are noted at 107.10/00 with stops below 106.90 while offers are tipped at 107.35/40 with stops above 107.65.

U.S. will release PPI data at 12:30GMT but market's main attention is speech by Fed Chief J. Powell at 13:00GMTwhere he is scheduled at a financial forum via webcast. Investors are keen to hear what J. Powell has to say in response to Trump's call for the Fed to cut Fed interest rates into 'negative' territory after Tuesday's U.S. CPI tumbled 0.8% in April, this was the steepest drop since the Great Deperession in the 1920's

 

[AceTRaderForex]

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

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

EUR/USD - 1.0813.. Despite gaining temporary respite in subdued Australian morning after selloff from yesterday's 1-week high of 1.0896 to 1.0812 in hectic New York session following Fed J. Powell's comments after his prepared text was released, the single currency came under renewed selling shortly after Asian open on Thur n fell marginally lower to 1.0810.

As Wednesday's decline from 1.0896 signals euro's 3-legged corrective rise from May's bottom at 1.0767 has ended there, downside bias remains for weakness to this week's low at 1.0785 (Tuesday), then re-test of 1.0767 later.
Offers have been lowered to 1.0820/25 n more above with stops touted above 1.0855/60.
Some bids (profit taking) are noted at 1.0805/00 with stops below there, more stops are reported below 1.0780.

The euro area countries will release a slew of eco. data during Euroepan morning (please refer to our EI page for details), market's focus is on U.S. weekly jobless claims and continuing claims.
We also have ECB Chief Economist Lane n ECB Vice President de Guindos speaking later today at 14:00GMT n 15:00GMT respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0801.. Euro moves narrowly in subdued Asian morning after yesterday's resumption of decline from this week's high of 1.0896 (Wednesday) to 1.0776 before staging a brief bounce to 1.0816 in New York on short covering. Traders cited euro's weakness in European morning on surprise Trump's usd comments "It's a great time to have a strong dollar because the whole world -- you know, we're paying zero interest, right."

Although range trading is in store until European morning, as long as Thursday's 1.0824 highs, downside bias remains for re-test of last week's low at 1.0767 (Thursday) where a break there would pave the way for weakness towards April's bottom at 1.0728 early next week.
Offers are tipped at 1.0815/25 with stops above 1.0835 while bids are noted at 1.0785-75 with stop below 1.0760.

Pay attention to data dump from the euro countries, please refer to our Economic Indicators page for details. EZ FinMins will hold video-conference today and ECB President Lagarde and ECB Chief Economist Lane will participate in virtual Euro group meeting.

 

[AceTRaderForex]

AceTraderFx May 18: Intra-Day News and Views & data to be released today-

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

USD/JPY - 107.18... Although dollar fell from 107.43 at Asian open last Friday to 106.86 at New York open on safe-haven jpy buying due to U.S.-China trade concern, price recovered to 107.37 on usd's strength but weakened to 107.04 in New Zealand today before rebounding to 107.28.

Despite dollar's retreat from last Monday's 2-week high at 107.76 to 106.75 on Wednesday, subsequent strong rebound to 107.43 Friday suggests pullback has possibly ended and range trading would be seen before prospect of another rise, above 107.76 would extend upmove from May's 7-week bottom of 105.99 to 108.03/08, however, reckon 108.22 should hold today.
Bids are noted at 107.00-90 with stops below 106.75 while offers are tipped at 107.60 with more above and stops above 108.00.

On the calendar front, U.S. will only release NAHB housing market Index for May at 14:00GMT and traders should keep an eye out for any U.S.-China trade news.

 

[AceTRaderForex]

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

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

USD/JPY - 107.41.. Dlr moved narrowly in subdued Asian morning despite yesterday's wild swings in other G7 currencies in New York session as intra-day jump in the euro after joint announcement by Germany and France to launch a EU recovery fund triggered broad-based usd selling, knocking the pair from 107.50 to 107.21.

As Mon's retreat from 107.50 suggests further volatile trading below May's 107.76 peak would continue, consolidation with near tern downside bias is seen but anticipated yen's weakness vs other currencies should keep price above 106.75 (reaction low).
Offers are tipped at 107.45/50 with some stops above there, more selling interest are noted above there with stops reported above 107.80.
Some bids are noted at 107.25/20 and more below with stops below 107.00, however, more stops are touted below 106.70.

Although only second-tier eco. data are due out from the U.S. later today, pay attention to Congressional testimonies by Fed's J. Powell n Treasury Secretary Mnuchin at 14:00GMT, market is expected to react to comments by these two heavyweights.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0940.. Euro recovers in Asian trading after yesterday's wild swings. Euro initially retreated to 1.0903 in Asian morning before resuming prev. day's rally in Europe due to upbeat German n EU investor's sentiment survey and climbed to a 2-week high of 1.0976, however, broad-based profit taking in euro later pressured price to 1.0919 ahead of New York close.

As retreat from 1.0976 suggests recent erratic rise from May's 1.0767 bottom has possibly made a top, consolidation with downside bias remains, a daily close below 1.0903 would add credence to this view and head back to 1.0850 later.
Offers are tipped at 1.0945/50 and more above with stops touted above 1.0980.
Bids are noted at 1.0920-10 with stops below 1.0895.

On the data front, we have EU's current account, HICP n core HICP n later EU's May consumer confidence.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0963.. Despite resumption of recent upmove to a near 3-week high of 1.0999 in New York morning due to broad-based usd's weakness on risk-on trades (the Dow gained 1.5%), euro retreated to 1.0958 as the greenback caught a bid in Asian morning following U.S. Trump's tweet with his China bashing comments.

Intra-day retreat suggests recent upmove has possibly made a temporary top n range trading with downside bias is envisaged until European open.
Offers are tipped at 1.0985/95 with stops above 1.0800, more stops are reported above May's 1.1018 high.
Bids are noted at 1.0960-55 with stops touted below 1.0850 and more below 1.0920.

Today is PMI day in the euro area, however, many European centres are closed for Ascension Day holiday, most notably Germany & France. Please refer to our Economic Indicators page for details. ECB board member Panetta will speak at online conference in Frankfurt at 07:35GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.62.. Despite initial bounce to 107.76 at Tokyo fixing, price quickly retreated to 107.56.
Price showed muted reaction after BOJ's emergency meeting ended with unchanged rate decision.

Despite early bounce from 107.34 (Wed) to 107.84 in European morning yesterday, subsequent retreat to 107.55 in New York signals choppy trading below Tuesday's 1-month peak at 108.08 would continue, however, intra-day broad-based usd's strength suggests buying the pair on dips is favoured.
Offers are tipped at 107.75/85 with stops above there while bids are noted at 107.55-45 with stops reported below 107.30.

T.G.I.F., after Thursday's data dump, no economic data is due out today in the U.S. and no scheduled virtual speech by Fed official. Trading may thin out after European close ahead of long weekend holiday as U.S. markets are closed for Memorial Day holiday next Monday.

​

 

[AceTRaderForex]

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

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

EUR/USD - 1.0894.. Euro swung broadly sideways but with a soft bias after staging a recovery from 1.0886 in New York morning on Friday to 1.0908 ahead of Tokyo open before renewed selling interest emerged in Asian trading and pressured price back to 1.0893.

As the decline from Thursday's near 3-week high at 1.1008 to 1.0886 Friday suggests recent upmove has made a top there, consolidation with downside bias remains for weakness towards 1.0850 later today, so trading the single currency short side is favoured.
Order book is pretty thin on this Monday morning with offers tipped at 1.0905/15 with stop above 1.0920 while some bids are touted at 1.0990/80 (profit taking) with stops below there.

Pay attention to eco. data from Germany during European morning especially the key Ifo data at 08:00GMT, if actual reading is much weaker than street forecast, one can expect another round
of euro bashing.