AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 24 July 2020 05:30GMT

EUR/USD - 1.1613... The single currency swung wildly in hectic trading yesterday as despite rebounding to 1.1598 in early European morning, failure to penetrate Wednesday's 21-month peak at 1.1601 triggered profit-taking and price dropped to 1.1541. However, the pair found renewed buying there and rose to 1.1626 in New York morning on usd's broad-based weakness before retreating to 1.1590 in New York afternoon and then trading sideways.

Euro's break above Wednesday's high at 1.1601 to 1.1626 yesterday signals erratic upmove from March's bottom at 1.0637 remains in progress and further gain to 1.1670/80 would be seen.
Bids are now seen at 1.1590/00 and more below at 1.1570/80 with stops building up below there whilst initial offers are noted at 1.1690/00.

There is a slew of data to be released from the eurozone including manufacturing and services PMIs from several countries. Pay particular attention to Germany's figures at 07:30GMT. Street forecasts are 48.0 and 50.5 vs previous readings of 45.2 and 47.3 respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 105.64... The greenback tumbled to a 4-month low at 105.69 in New York on Friday due to usd's broad-based weakness before staging a rebound to 106.16 near New York closing on short-covering. However, renewed selling emerged in New Zealand today and knocked price down. The pair then penetrated aforesaid bottom to 105.61 in Tokyo morning and continues to remain under pressure.

Dollar's intra-day break below Friday's 4-month trough at 105.69 signals erratic decline from 2020 peak at 112.22 (Feb) has once again resumed and further weakness to 105.05/10 would be seen after consolidation.
Offers are now lowered to 105.80/90 and more above at 106.00/10 with stops building up above there whilst initial bids are noted at 104.90/00.

Pay attention to the release of U.S. durable goods at 12:30GMT. Street forecast is for an increase by 6.5% vs previous reading of 15.7%.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 28 July 2020 05:30GMT

EUR/USD - 1.1749... The single currency extended its recent winning streak and rose above Friday's high at 1.1658 to 1.1725 in Asia yesterday. The pair then found renewed buying at 1.1683 in European morning and rallied to a fresh 22-month peak at 1.1781 in New York morning on usd's continued weakness before retreating to 1.1743 in New York afternoon on profit-taking. Price then rebounded again to 1.1773 in Asia today before weakening.

Euro's intra-day retreat after failure to break yesterday's high at 1.1781 suggests Medium Term upmove is not ready to resume yet and range trading would be seen, reckon bids at 1.1730/40 and more below at 1.1710/20 would contain downside and yield another rise later.
Above 1.1781 would extend to 1.1815 but offers at 1.1820/30 would cap upside and yield correction.

Data to be released on Tuesday :
UK CBI distributive trades, and U.S. redbook, CaseShiller home price, consumer confidence, Richmond Fed manufacturing index.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 July 2020 05:30GMT

USD/JPY - 105.08... Although the greenback edged up to 105.68 ahead of European open yesterday, the pair met renewed selling there and knocked price down in Europe on active cross-buying in jpy and the pair fell below Monday's 105.12 to a fresh 4-month trough at 104.96 due partly to usd's weakness before trading sideways throughout New York afternoon and briefly recovering to 105.24 in Asia today.

Dollar's break below Monday's 4-month bottom at 105.12 to 104.96 signals erratic decline from 111.71 (March) remains in progress and further weakness to 104.50/60 would be seen after consolidation.
Offers are now seen at 105.20/30 and more above at 105.40/50 with stops building up above there whilst initial bids are noted at 104.30/40.

Although there is a slew of U.S. data to be released today, market focus is on the Federal Reserve's rate decision at 18:00GMT. It is widely expected that the central bank will keep its rates on hold but investors should pay extra attention to Chairman Powell's press conference at 18:30GMT as he may provide hints on whether there will be additional easing of monetary policy in the future.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1775... The single currency went through a roller-coaster ride on Wednesday. The pair remained on the front foot in Asia and gained to 1.1769 in early European morning before briefly dropping to 1.1719 at New York open. The pair then rallied to a fresh 22-month peak at 1.1806 in post-FOMC trading and then retreated to 1.1755 in New York afternoon on profit-taking before rebounding again to 1.1797. However, failure to penetrate said top triggered renewed selling in Asia today and price weakened to 1.1767.

Euro's rise to a fresh 22-month peak at 1.1806 yesterday suggests MT uptrend would head to 1.1830/40 after consolidation. Bids are now seen at 1.1760/70 with stops building up below there whilst initial offers are noted at 1.1840/50.

There is a slew of data coming out of the eurozone today including German unemployment, EU economic and business sentiment but one should pay particular attention to Germany's GDP qq and yy at 08:00GMT. Street forecasts are -9.0% and -11.3% vs previous readings of -2.2% and -2.3% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 31 July 2020 05:30GMT

EUR/USD - 1.1893... Although the single currency dropped to 1.1732 in European morning yesterday due partly to cross-selling of euro especially vs sterling, price erased its losses and gained to 1.1809 in New York morning on the back of poor U.S. GDP data, then rallied to 1.1848 near New York closing on usd's broad-based weakness. The pair easily penetrated this level in Asia and rose to a 25-month peak at 1.1904 in Asian morning and continues to trade with a firm undertone.

Intra-day rise above yesterday's high at 1.1848 signals Medium Term upmove from 1.0637 (March) remains in progress and further gain to 1.1920/30 would be seen before prospect of correction.
Bids are now seen at 1.1950/60 and more below at 1.1930/40 with stops building up below there whilst initial offers are noted at 1.1940/50.

Pay attention to the release of EU GDP yy and qq for the 2nd quarter. Street forecasts are -14.5% and -12.0% vs previous readings of -3.1% and -3.6% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 03 Aug 2020 05:30GMT

EUR/USD - 1.1769... Although the single currency rose to a fresh 2-year peak at 1.1906 at European open on Friday, price erased its gains on usd's broad-based rally and tumbled to 1.1762 in New York. The pair then recovered to 1.1796 in New Zealand today, however, renewed selling there knocked price back down to 1.1742 in Asia due partly to cross-selling in euro especially vs sterling before stabilising.

Euro's intra-day break below 1.1762 suggests MT uptrend has made a temporary top at 1.1906 on Friday and choppy trading with mild downside bias would be seen. However, bids at 1.1730/40 and below at 1.1710/20 would contain current fall and yield a much-needed recovery later.

There is a slew of manufacturing PMIs to be released from the eurozone today. Pay particular attention to Germany's figure at 07:55GMT, which is expected to remain unchanged at 50.0.

 

[AceTRaderForex]

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

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

USD/JPY - 106.16... The greenback swung wildly in hectic trading yesterday as despite initial jump to 106.43 in Asia, price fell sharply to session lows at 105.59 in European morning due partly to cross buying in jpy. The pair then erased intra-day losses and rallied to 106.47 in New York morning on usd's renewed strength before retreating to 105.92 in late New York on profit-taking. However, renewed buying there lifted the usd and price rebounded to 106.19 in Asia today.

Dollar's sharp retreat from 106.47 to 105.92 yesterday suggests the 1st leg of correction from Friday's 4-1/2 month trough at 104.19 has ended there n consolidation with downside bias remains for weakness to 105.70/80.
Offers are now seen at 106.20/30 with stops building up above there whilst initial offers are noted at 106.70/80.

Pay attention to the release of U.S. factory orders at 14:00GMT. Street forecast is 5.0% vs previous reading of 8.0%.

 

[AceTRaderForex]

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

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

USD/JPY - 105.59... The greenback edged up to 106.19 in Asia yesterday before retreating to 105.85 in early European morning. Despite another rebound to 106.19 at New York open, failure to penetrate this level triggered renewed selling interest and the pair dropped to 105.64 in New York afternoon on falling U.S. Treasury yields together with cross-buying in jpy, then lower to 105.52 in Asian morning today.

Although dollar's intra-day break below yesterday's low at 105.64 suggests 1st leg of correction from last Friday's 4-1/2 month trough at 104.19 has ended at 106.47 on Monday.
Bids at 105.40/50 and below at 105.20/30 should contain downside and yield another rebound later today.

Pay attention to the release of U.S. ADP employment at 12:15GMT and ISM non-manufacturing PMI at 14:00GMT. Street forecasts are 1,500k and 55.0 vs previous readings of 2,369k and 57.1 respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 Aug 2020 05:30GMT

USD/JPY - 105.58... The greenback traded sideways initially before edging up to session highs at 105.87 in European morning yesterday. However, renewed selling there knocked price down to an intra-day low at 105.33 in New York morning on dollar's broad-based weakness post the release of downbeat U.S. ADP private payrolls data. The pair then staged a recovery to 105.67 in New York afternoon before retreating to 105.47 in Asia today.

Dollar's rebound from yesterday's low at 105.33 suggests the pullback from Monday's high at 106.47 has possibly ended there and consolidation with upside bias remains for gain to 105.87, above would extend to 106.19, then 106.47 later.
Bids are now seen at 105.40/50 with stops building up below there whilst initial offers are noted at 108.60/70.

Although market focus is now on Friday's release of U.S. jobs report, pay attention to today's jobless claims figure at 12:30GMT. Street forecast is 1,415k vs previous reading of 1,434k.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Aug 2020 05:30GMT

EUR/USD - 1.1849.. Trading the single currency proved to be tricky in roller-coaster Thursday's session. Although euro edged higher from 1.1864 (Asia) and hit a fresh 2-year peak of 1.1915 at European open, broad-based long liquidation in euro knocked price to session lows of 1.1819 in New York morning but only to rebounded later to 1.1893.

Despite yesterday's rebound from 1.1819, euro's intra-day retreat in Asia suggests choppy sideways swings would continue in Europe as traders are keeping their powder dry for release of US NFP. Offers are tipped at 1.1880/90 with stops above 1.1900 and more stops are touted at 1.0920.
Bids are noted at 1.18230/20 n more below with stops reported below 1.1800.

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

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Aug 2020 05:30GMT

USD/JPY - 105.78... The greenback jumped to 106.05 in New York last Friday on release of upbeat U.S. jobs report, however, lack of follow-through buying triggered profit-taking and price retreated to 105.73 in thin Asian trading today as Japanese markets remain closed for Mountain Day holiday as geopolitical tensions between U.S. and China continue to linger.

Dollar's strong rebound from last Thursday's low at 105.31 to 106.05 Friday suggests pullback from last week's high at 106.47 (Monday) has ended there and intra-day retreat would yield consolidation before prospect of another rise later. Above 106.05 would head to 106.19/20.
Bids are now seen at 105.60/70 with stops building up below there whilst initial offers are noted at 106.30/40.

In the absence of any economic data from U.S. today, pay attention to remarks from Chicago Federal Reserve President Charles Evans, who is scheduled to speak at 20:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 11 Aug 2020 05:30GMT

USD/JPY - 106.03... The Japanese yen swung wildly in hectic trading yesterday as despite initial retreat to 105.73 in Asia, price rallied to session highs at 106.19 ahead of New York open on usd's strength before dropping to an intra-day low at 105.71 in New York morning. The pair then rebounded strongly to 106.17 in Asia today due partly to the initial rally in Nikkei-225 as Japanese markets resumed trading before retreating again.

Despite dollar's retreat from 106.19 to 105.71 yesterday, subsequent rebound suggests consolidation with upside bias remains and above 106.19 would bring re-test of last Monday's peak at 106.47.
Bids are now seen at 105.80/90 and more below at 105.60/70 with stops building up below there whilst initial offers are noted at 106.60/70.

In the absence of major economic data from U.S. today, pay attention to comments from Richmond Federal Reserve President Thomas Barkin, who is set to on "Perspectives on the economy and what is next for recovery" at a webinar at 15:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Aug 2020 05:30GMT

EUR/USD - 1.1720... The single currency traded with a firm bias after falling to 1.1723 in Asia and gained to 1.1756 at European open before jumping to an intra-day high at 1.1807 in European morning. However, the pair met renewed selling there and tumbled to 1.1729 in late New York on usd's broad-based strength, then lower to 1.1717 in Asia today.

Euro's intra-day break below yesterday's low at 1.1723 signals decline from last Thursday's fresh 2-year peak at 1.1915 remains in progress and further weakness to 1.1697, then 1.1683 would be seen before prospect of rebound.
Offers are now seen at 1.1740/50 and more above at 1.1760/70 with stops building up above there whilst initial bids are noted at 1.1670/80.

Pay attention to the release of EU industrial production at 09:00GMT. Street forecasts for mm and yy are 10.0% and -11.5% vs previous readings of 12.4% and -20.9% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Aug 2020 05:30GMT

EUR/USD - 1.1808... Although the single currency dropped to session lows at 1.1712 in Asia, price erased its losses and rallied to 1.1778 in European morning, then higher to 1.1816 in New York morning on usd's broad-based weakness together with cross-buying in euro especially vs sterling.
The pair then retreated to 1.1781 in Australia today, however, renewed buying there lifted the pair to 1.1816 again in Asia today.
Euro's rally from 1.1712 to 1.1816 yesterday suggests decline from last Thursday's fresh 2-year peak at 1.1915 has made a temporary low there and consolidation with upside bias remains for gain to 1.1840/50.
Bids are now seen at 1.1770/80 and more below at 1.1750/60 with stops building up below there whilst initial offers are noted at 1.1870/80

Thursday data releases :
New Zealand food price index, UK RICS housing survey, Japan corporate goods price, machine tool orders, Australia employment change, unemployment rate.
France ILO unemployment rate, Germany CPI, HICP, wholesale price index.
U.S. import prices, export prices, initial jobless claims, continued jobless claims.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Aug 2020 05:30GMT

EUR/USD - 1.1811... The single currency swung wildly in hectic trading yesterday. The pair traded with a firm bias in Europe and gained to session highs at 1.1864 in New York morning on usd's broad-based weakness, however, price pared its gains and retreated sharply to 1.1794 in New York afternoon. Euro then staged a rebound to 1.1820 at Asian open today before retreating again to 1.1802.

Euro's sharp retreat from 1.1864 to 1.1794 yesterday suggests the recovery from Wednesday's low at 1.1712 has ended there and consolidation with downside bias remains for weakness to 1.1750/55.
Offers are now seen at 1.1830/40 with stops building up above there whilst initial bids are noted at 1.1720/30.

EU will release its final figures its Q2 GDP at 09:00GMT. Street forecasts for QQ and YY are -12.1% and -15.0%, unchanged from their preliminary readings respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 17 Aug 2020 05:30GMT

USD/JPY - 106.52... The greenback remained under pressure on Friday and dropped to session lows at 106.44 in New York morning on usd's broad-based weakness due to stalemate in talks between the Democrats and Republicans on the coronavirus pandemic aid stimulus. The pair then staged a short-covering rebound to 106.65 in New Zealand today, however, price met renewed selling interest and retreated to 106.47 in Asian morning.

Dollar's fall to 106.44 on Friday suggests the 1st leg of correction from July's 4-1/2 month trough at 104.19 has ended at last Thursday's near 3-week peak at 107.04 and mild downside bias would be seen, however, bids at 106.20/30 would contain current fall and yield another rebound.

In the absence of major economic data from the U.S. today, one should pay attention to comments from Atlanta Fed President Raphael Bostic, who is scheduled to speak at 16:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Aug 2020 05:30GMT

EUR/USD - 1.1889... The single currency traded with a firm bias in Asia yesterday and edged up to 1.1867 before falling to session lows at 1.1830. However, the pair found renewed buying there and rose to session highs at 1.1880 in New York morning on usd's broad-based weakness. Price continued to edge higher and gained to 1.1897 in Asian morning today before easing.

Euro's intra-day break above yesterday's high at 1.1880 signals early correction from August's 2-year peak at 1.1915 has ended at 1.1712 last Wednesday and consolidation with upside bias remains for a re-test of said top, break would extend MT upmove to 1.1935 before correction. Bids are now seen at 1.1870/80 and more below at 1.1850/60 with stops building up below there whilst initial offers are noted at 1.1840/50.

In the absence of major economic data from EU today, pay attention to comments from ECB board member Luis de Guindos, who is scheduled to speak at 08:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Aug 2020 05:30GMT

USD/JPY - 105.36... The greenback resumed its recent losing streak and continued to remain under pressure in European session yesterday. The pair fell to 105.29 in New York morning on usd's broad-based weakness as negotiations between the Republicans and the Democrats remain at a standstill. The pair then met renewed selling at 105.46 in Australia today and fell to 105.11 in Tokyo morning before staging a strong short-covering rebound to 105.41.

Dollar's intra-day break below yesterday's low at 105.29 signals decline from last week's 3-week peak at 107.04 remains in progress and further weakness to 104.80/90 would be seen before prospect of a correction. Offers are now seen at 105.40/50 and more above at 105.60/70 with stops building up above there whilst initial bids are noted at 104.50/60.

In the absence of key economic data from U.S., focus is on the release of FOMC meeting minutes at 18:00GMT. Investors should pay attention to the language used as it could provide further hints about the policy path the central bank would tread on during these challenging times for the economy.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Aug 2020 05:30GMT

USD/JPY - 106.12... The greenback swung wildly in hectic trading yesterday as despite rebounding strongly from Asian low at 105.11 to 105.60 ahead of European open, price retreated to 105.18 ahead of New York open. However, the pair then erased its losses and rallied to session highs at 106.14 near New York close on usd's broad-based rally after the rally of Fed's FOMC minutes, which hinted the central bank would consider extending the duration on its aggressive monetary policy. Price then found renewed buying at 105.98 in Australia today and gained to 106.21 before stabilising.

Dollar's intra-day break above overnight resistance at 106.14 suggests decline from August's near 3-week peak at 107.04 has made a temporary low at 105.11 yesterday and consolidation with upside bias remains for stronger retracement to 106.65.

Bids are now seen at 105.80/90 and more below at 105.60/70 with stops building up below there whilst initial offers are noted at 106.90/00.

Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is 925k vs previous reading of 963k. Elsewhere, the President of San Francisco Federal Reserve Mary Daly will speak at 17:00GMT.