AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 107.49.. Despite yesterday's initial rise to 107.92 after downbeat comments by BOJ Gov Kuroda, price quickly erased intra-day gain n fell to 117.41 at U.S. open due to broad-based usd's weakness on return of risk-on sentiment which spilled over into New York session.

However, the greenback pares Tue's losses vs its G7 peers at Tokyo open as traders tighten their short usd positions due to renewed U.S./China tensions over H.K.'s China national anthem bill which goes into 1st reading at H.K. legislative council today, yen strengthened broadly vs usd, euro, sterling, suggesting sideways swings are in store.
Offers are tipped at 117.70/80 with stops above 118.10, some bids are noted at 107.40-30 with stops below there.

On the data front, U.S. will release some 2nd-tier eco. data starting with MBA mortgage applications, redbook sales n then Richmond Fed mfg index. St. Louis fed Bullard will speak at 16:30GMT and Fed will release its Beige book at 18:00GMT, the Atlanta Fed President Bostic will speak at 19:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.77.. Although the pair continues to trade in familiar territory, gyrating inside recent 108.08-107.33 range, yesterday's rise from 107.37 (Asia) to 107.94 in New York morning on safe-haven usd buying due to rising U.S./China tensions suggests pullback from last Tuesday's -month peak at 108.08 has possibly ended, however, subsequent usd's retreat on rally in U.S. stocks (the Dow hit a 2-month high and ended up 2.21% for the day) would yield range trading initially today.

Offers are tipped at 117.90/00 with stops reported above 108.10. On the downside, initial bids are noted at 107.70-65 with stops below 107.50, more bids are touted at 107.40-30 with stops reported below there.

We have data dump from the U.S. later today (please refer to our EI page for details), once again, market's attention is on weekly jobless claims n continued jobless claims to get the latest pulse of the economy in the wake of coronavirus pandemic, however, as market is accustomed to the rising unemployment but this is seen to be temporary and will start to recede due to easing of lockdowns, the data is unlikely to have a strong impact on price.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1086.. The single currency maintains a biddish tone in rather subdued Asian trading after yesterday's resumption of recent erratic rise to a near 2-month peak of 1.1093 due to continued broad-based euro buying vs usd, yen, gbp n chf following EU Commission's passing of the economic recovery fund, however, Asian traders are wary of taking euro higher as news of U.S. press conference later today on China has dampened risk appetite due to increased U.S./China tensions.

For now, buying euro on dips is still favoured as the trend is your friend. Bids are noted at 1.1060-50 with stops touted below 1.1030 while offers are tipped at 1.1090/00 with stops above 1.1100.

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

 

[AceTRaderForex]

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

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

USD/JPY - 107.70.. Dollar moved relatively narrowly in Asia despite intra-day broad-based weakness in usd vs other G7 peers, however, renewed yen selling on return of risk sentiment after U.S. Trump left U.S./ China trade deal untouched at Friday's press conference on China as well as upbeat China official n private PMIs (see previous updates for details) suggest range trading with upside bias remains.

As rebound from Friday 107.09 low (Europe) to 107.89 in New York suggests pullback from May's peak at 108.08 has possibly ended, bullishness remains for re-test of this res.
Bids are noted at 107.65-55 with stops below 107.30, more stops are reported below 107.00.
Offers are tipped at 107.90/00 with stops touted above 108.10.

Today is PMI day in the U.S., we have Markit mfg PMI, construction spending n then ISM mfg PMI.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1121.. Euro trades narrowly in relatively subdued Asia morning after hitting a 2-month high of 1.1153 in European morning before4 retreating to 1.1101 on profit ranking following Blommber's report China has instructed state-owned enterprises to withhold purchase of U.S. soybeans and pork.

As Monday's break of previous daily res at 1.1147 signals Medium Term rise from 2020 bottom at 1.0637 (March's near 3-year low) has resumed, price is en route to next chart obj. at 1.1172 after consolidation but near term loss of momentum should cap price below 1.1213 today.
Bids are noted at 1.1110/00 with stops below 1.1080 whilst offers are tipped at 1.1145/55 with stops above there.

Eco. calendar is very thin today with France's balance budget is the only data due out and market Italy is closed for holiday.

 

[AceTRaderForex]

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

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

USD/JPY - 108.47.. Despite resumption of upmove at Tokyo open to a fresh 7-week high of 108.84 due to continued risk-in sentiment, the safe-haven yen suddenly caught a bid n gained broadly vs usd, euro, sterling n aud etc, the pair fell back to 108.43 following news the U.S. defence Depart. has deplayed army troops to national capital, Washington D.C. to support local authorities to quell recent civil unrest.

Dlr's intra-day retreat suggests recent upmove has made a temp. top n sideways swings are in store unti European open, however, as long as 108.08 (May's high, now sup) holds, prospect of further gain to 109.00/05 remains but Apr's high at 109.37 should cao upside. Offers are tipped at 108.75/85 whilst bids are noted at 108.40-30 with stop below 108.20.

Ahead of Fri's release of U.S. jobs report, we have data dump fm the U.S. later tday, pls refer to our Economic Indicators page for details. Pay attention to release of ADP private payrolls, streety forecast is look for 9 million job losses vs previous month's reading of 20.2 million.

 

[AceTRaderForex]

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

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

USD/JPY - 108.91.. Despite meeting renewed buying at 108.88 in Australian morning and then intra-day brief break above New York high of 108.98 to a near 2-month peak at 109.04 after tripping stops above 109.00, price swiftly erased initial gain on broad-based yen buying and fell to 108.81 in Tokyo morning.

Although dlr's retreat from 109.04 suggests recent upmove has made a temporary top and range trading is in store, as long as yesterday's low at 108.43 (Asia) holds, outlook remains bullish for further headway towards chart obj. at 109.37 (Apr's peak) before prospect of a long-overdue correction.
Offers are tipped at 109.00/10 with stops above there, more selling are touted at 109.30/35 with stops reported above 109.40. Bids are noted at 108.80-70 n more below with stops reported below 108.40.

Ahead of Fri's U.S. key jobs report, market waits release of weekly jobless claims as well as continued jobless claims to get the latest pule of the employment situation. Street forecast is look for 1.8 million filing for unemployment vs prev. week's reading of 2.12 million

 

[AceTRaderForex]

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

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

USD/JPY - 109.11..Despite extending yesterday's rise above Thur's near 2-month high of 109.19 (New York) to 109.23 shortly after Tokyo open, selling by Japanese names (exports) quickly capped intra-day gain n pushed price back down to 109.05, suggesting range trading may be seen until European open.

Dlr's recent streak is expected to continue due to active yen selling on continued risk-on sentiment due to gains in U.S. equities n market optimism of global economic rebound after lifting of lockdowns in many countries. The greenback should get another shot in he arm especially vs yen when U.S. jobs report is released as market is expecting a vast improvement in non-farm payrolls following reduction in weekly jobless claims which have shown steady decrease in last few weeks, so the buck is poised to move higher later today but 110.00 handle may a a bridge too far for the pair to cross as dlr should remain under pressure vs its other G7 peer currencies.
For now, bids are noted at 109.00/108.80 region with stops below 108.60 while offers are tipped at 109.25/35 with some stops touted above 109.40.

T.G.I.F., Asian traders can look forward to upcoming weekend break but European n N. American traders are keeping their powder dry in anticipation of release of key U.S. jobs report plus a slew of other eco. data at 12:30GMT, please refer to our EI page for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1290.. Euro came under selling pressure after initial cable-led rebound to 1.1319 just ahead of Asian open following decline from Friday's fresh 2-1/2 month peak at 1.1383 (Europe) to as low as 1.12979 near New York close as robust U.S. NFP triggered broad-based profit taking in recent long euro positions vs usd, yen, gbp & chf etc.

As Friday's decline signals recent upmove has made a temp. top, intra-day weakness suggests recovery is over and re-test of 1.1279 would be seen, then 1.1250/60 but reckon 1.1201 (last week's low on Monday) should contain weakness.
Order book is pretty thin with offers tipped at 1.1315/20 with stops above 1.1345 while bids are noted abpve 1.1285/80 with stops below 1.1270.

Data to be later :
Germany industrial output, EU Sentix index.
Canada housing.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1289.. Euro moves sideways in Asia despite intra-day wild swings in other G7 currencies vs the usd. Despite usd's renewed weakness in New York session on Mon n early today, the single currency was unable to capitalise on this due to active cross-selling in euro vs yen, gbp n chf.

Despite decline from Fri's fresh 2-1/2 month high at 1.1383 to 1.1269 at London midday yesterday, subsequent rise to 1.1318 in New York suggests 1st leg of correction is over n as long as 1.1269 holds, consolidation with upside bias remains, above 1.1318/19 res would add credence to this view n bring further gain to 1.1342 but firm break of 1.1361 needed to head back towards 1.1383 later today or tomorrow.
Bids are noted at 1.1285/75 with stops below 1.1260 while offers are tipped at 1.1315/20 with stops above there.

The euro area countries will release a slew of economic data, please refer to our EI page for details. We have ECB Governing Council member Rehn speaking at 08:00GMT n also ECB Vice President de Guindos will participate in a virtual Ecofin meeting. Later at 14:00GMMT, ECB's board member Schnabel will participate in Twitter Q&A. Last but not least, ECB will publish report on the international role of the euro at 08:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 107.75.. The greenback gains respite in subdued Asian morning after yesterday's resumption of decline from last Friday's 2-month peak of 109.84 to a near 1-week trough of 107.63 near New York midday.

Traders cited active yen buying in Tokyo morning Tue by Japanese names in anticipation of flattening of U.S. yield curve after FOMC meeting later today with 30-year U.S. bond yield to head lower from last Friday's 10-week high of 1.762% (circa 1.579%). However, intra-day narrow move suggests bulk of usd selling is over, so further decline would be mild and one can expect a short-covering rebound to occur in New York morning.
Offers are tipped at 107.90/00 with stops above 108.25 while bids are noted at 107.70-60 with stops below 107.50.

U.S. will release a slew of inflation data (see EI page for details) ahead of FOMC announcement at 18:00GMT n then market focus is on post-FOMC presser by Fed chief J. Powell.

 

[AceTRaderForex]

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

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

USD/JPY - 107.00.. Dlr remains on the back foot in relatively subdued Asian morning. Price resumed this week's losing streak n fell to 106.99 in post-FOMC New York after Fed's pessimistic economic outlook, the pair hit fresh 3-1/2 week low of 106.91 ahead of Tokyo open before edging higher to 107.09.

As decline from last Fri's 2-month peak at 109.84 signals early rise from 105.99 (May low) has ended, downside bias remains for weakness to next chart obj. at 106.75, however, reckon 106.46/50 would contain downside today.
Offers are tipped at 107.25, then at 107.40/45 with stops above 107.65 while some bids are noted at 106.90-80 with stops below 106.70. BOJ Gov. Kuroda will testify in parliament at 05:00GMT.

On the data front, market's focus is U.S. weekly jobless claims n continued jobless claims as well as PPI data.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1282.. The single currency remains on the back foot in early Fri trading after yesterday's intra-day 'wild' swings ended with price tumbling from 1.1403 to as low as 1.1289 in New York session as usd caught a bid due to its safe-haven status following broad-based selloff on Wall Street. Price extended o/n weakness to 1.1277 in Asian morning before stabilising.

As the decline from Wed's 3-month peak at 1.1422 signals Medium Term rise from 2020 near 3-year bottom at 1.0637 (March) has made a temporary top, downside bias remains for a long-overdue retracement towards next chart obj. at 1.1196 early next week, so selling euro on recovery due to near term o/sold condition is the way to go.
Offers are tipped at 1.1300/05, then 1.1325/30 while some bids are noted at 1.1275/70 and more at 1.1250/45 with stops building up below 1.1240.

The euro area countries will release a slew of eco. data, please refer to our EI page for details. We have ECB member Enria speaking at 08:00GMT, then at 12:00GMT in Frankfurt.

 

[AceTRaderForex]

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

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

USD/JPY - 107.24.. Although the pair opened flat in New Zealand, price briefly penetrated Friday's 107.55 high to 107.57 but only to fall back to 107.16 in early Tokyo trading due to a bout of safe-haven yen buying as U.S. Dow n S&P 500 futures were both trading lower by over 1% from Fri's close.

As intra-day retreat from 108.57 suggests correction from last Thursday's 4-week trough at 106.58 has possibly ended, consolidation with downside bias is in store. Offers are tipped at 107.45/55 with stops above 107.65 while some bids are noted at 107.15/05 with stops below 105.90.

The BOJ begins its 2-day monetary policy meeting today and On the data front, U.S. will release New York Fed mfg index at 12:30GMT.
Later, we have Dallas Fed Kaplan and S.F. Fed's Daly speaking at 15:00GMT and 15:30GMT respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 107.36.. Despite yesterday's initial marginal gain to 108.57 (AUS), dlr fell relatively sharply to 107.01 ahead of European open due to safe-have yen buying, price managed to erased intra-day losses n ratcheted higher to 107.48 in New York morning before retreating on NY afternoon due to usd's weakness following Fed announced it will purchase U.S. corporate bonds starting Tue.

Intra-day sideways swings are likely to continue with mild upside bias ahead of BOJ's policy announcement as rebound in U.S. stocks n intra-day gains in Dow n S&P 500 futures have boosted risk appetite.
Bids are noted at 107.20-00 area with stops below there while offers are tipped at 108.50/55 with stops touted above 107.60.

U.S. will relesae a slew of eco. data (see our EI page for details) n pay particular attention to May retail sales. Market will also focus on Fed chief J. Powell's testimony before the Senate Banking Committee on Capital Hill at 14:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1259.. Euro moves narrowly in subdued Asian morning after yesterday's selloff from 1.1352 (Europe) to as low as 1.1229 in New York morning due to broad-based rally in usd after robust U.S. retail sales data and then pessimistic comments by Fed's J. Powell which triggered safe-haven usd buying.

As said yesterday's decline suggests correction from Friday's 1-week low at 1.1213 has ended, downside bias remains for a re-test of this sup, then next chart obj. at 1.1196, however, as early fall from 1.1422 last week signals Medium Term upmove has made a temp. top, stronger correction towards 1.1147 is envisaged.
Offers are tipped at 1.1270/80 with stops above 1.1300 while bids are noted at 1.1230-20 with stops reported below 1.1210.

The euro area countries will release a slew of eco. data n we have several ECB members scheduled to speak during European session, please refer to our Economic Indicators page for details

 

[AceTRaderForex]

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

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

USD/JPY - 106.78.. Dlr gains no respite in Asia after Wednesday's fall from 107.44 (Europe) to 106.96 in New York afternoon due to safe-haven yen buying. Price came under renewed selling pressure at 107.05 in Australia n fell to 106.71 in Asian morning on a bout of fresh yen buying as renewed weakness in US stock futures (Dow futures currently down 1.3%) triggered further risk-off trade.

Intra-day weakness suggests early correction from last Thursday's 4-week bottom at 106.58 has ended at 107.63 (Tuesday) and decline from June's 2-month peak at 109.84 would head towards next daily chart obj. at 105.99 after consolidation. Therefore, trading dlr from short side in anticipation of resumption of decline is the way to go.
Offers have been lowered to 106.85/95 with stops touted above 107.05 while bids are noted at 106.70-60 with stops reported below 106.50.

On the economic front, pay attention to U.S. weekly jobless claims n continued jobless claims plus other data too (see EI page for details). Market is expecting further reduction in the number of unemployed people as many cities have lifted recent lockdown restrictions. Also, Cleveland Fed's Mester will speak for a second day later in NY at 16:15GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 106.92.. Dlr trades relatively narrowly in subdued Asian morning after a roller-coaster Thursday’s session. Despite initial fall from 107.05 to 106.71 on safe-haven yen buying in Asia, price rebounded on short covering to 107.12 in Europe but only to tumble to session lows of 106.68 near New York midday on renewed yen's strength, however, price climbed back to 107.09 near New York close.

Although yesterday's rebound from 106.68 suggests price is not ready to re-test last Thursday’s 4-week trough at 106.58 n further choppy swings may continue before decline from Jun's 109.84 peak heads towards next daily chart obj. at 105.99 (May bottom), anticipated yen strength vs yen, eur, gbp n aud etc suggests trading the pair from short side is still preferred. Offers are tipped at 109.05/15 with stops above 109.20 while bids are noted at 106.70-60 with stops reported below 106.50.

TGIF, although the only U.S. eco. data due out is current account, we have a number of FOMC officials scheduled to speak in New York session (see EI page for details), pay attention to video conference of Fed chief Powell who is joined by Cleveland Fed President Mester to participate in live conference at 17:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1191.. Euro gains respite in Asian trading after hitting a 2-1/2 week trough of 1.1169 in New York morning on Fri. Trading the single ccy proved to be tricky in Fri's session as despite intra-day retreat from 1.1221 to 1.1195 in Europe, price briefly jumped to session highs of 1.1254 on broad-based usd's weakness but renewed usd buying soon emerged as U.S. stocks headed south together with falling U.S. yields n the pair quickly tumbled to 1.1169 before swinging sideways for rest of New York afternoon.

As Friday's weakness to 1.1169 suggests recent decline from June's 3-month peak at 1.1422 remains in force n would head to 1.1147, selling on intra-day recovery is the way to go but loss of downward momentum should keep price above 1.1100/10 today. Offers are tipped at 1.1195/05 with stops above 1.1225 and bids are noted at 1.1175/70 with stops below 1.1140.

The only data due out from the euro-area countries is EU's May consumer confidence at 14:00GMT. The German Bundesbank will publish its monthly report. There is a European Council n European Commission will hold a summit meeting today where Chinese Preisident Xi n Premier Li will join via video conferencing, ECB Vice President de Guindos will speak at a financial conference in Frankfurt at 14:15GMT, later ECB's Chief Economist Lane at a seminar at 16:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Jun 2020 07:30GMT

EUR/USD - 1.1286... Reuters reported Germany's private sector recession eased further in June but coronavirus-related disruptions and uncertainty continued to weigh on demand, a survey showed on Tuesday, suggesting that Europe's largest economy is set for a slow recovery.

IHS Markit's flash composite Purchasing Managers' Index (PMI), which tracks the manufacturing and services sectors that together account for more than two-thirds of the economy, improved to 45.8 from 32.3 in May.

That beat the 44.2 predicted by a Reuters poll of analysts but still marked the fourth month in a row that the index was below the 50 threshold which separates growth from contraction.