AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Aug 2020 05:30GMT

EUR/USD - 1.1866... The single currency swung wildly in hectic trading yesterday as despite initial rebound to 1.1868 in early European morning, price retreated to 1.1813, then lower to session lows at 1.1803 in New York morning due to cross-selling of euro especially vs sterling. However, the pair then erased its losses and rallied to 1.1864 in New York, then higher to 1.1876 in Asia today on usd's weakness before stabilising.

Euro's strong rebound from yesterday's low at 1.1803 suggests the 1st leg of correction from Tuesday's fresh 2-year peak at 1.1965 has ended there and gain to 1.1890/95 would be seen, however, offers at 1.1900/10 should limit upside and yield another retreat later.
Below 1.1831 would bring re-test of 1.1803, break would extend marginally but bids at 1.1780/90 would contain downside.

There is a slew of PMIs due from the eurozone today but pay particular attention to Germany's manufacturing and services PMIs at 07:30GMT. Street forecasts are 52.5 and 55.1 vs previous readings of 51.0 and 55.6 respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1802.. The single currency pares Friday's losses in relatively subdued Asian trading n recovered to 1.1806 ahead of Asian open, suggesting range trading is in store.

As Fri's selloff from 1.1882 (Europe) due to downbeat euro zone PMI data to an 8-day low of 1.1755 in New York on broad-based usd's strength signals decline from last Tuesday's 2-year peak at 1.1965 would resume towards next daily obj. at 1.1712 after consolidation.
Order book is pretty light on Monday with offers tipped at 1.1805/10 and stops above 1.1835 while some bids are noted at 1.1765-55 with stops below 1.1750.

There is no eco. data due out from the euro zone, however, German Bundesbank will release its monthly report during European morning.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Aug 2020 05:30GMT

USD/JPY - 105.90... The greenback traded narrowly in Asia and Europe yesterday as market focus remained on other dollar majors. Despite retreating to 105.70 in Asia, price rebounded to 105.99 in New York afternoon due to the rise in U.S. yields and stocks, then higher to 106.05 in Tokyo morning today. However, lack of follow-through buying triggered profit-taking and price retreated to 105.88.

Dollar's sideways move yesterday after Friday's rebound from 105.45 to 106.07 suggests choppy trading above last week's bottom at 105.11 would continue and above resistance at 106.21 would extend to 106.44/50 later.
Bids are now seen at 105.70/80 and more below at 105.50/60 with stops building up below there whilst initial offers are noted at 106.60/70.

There is a slew of data to be released from the U.S. today but one should pay particular attention to consumer confidence at 14:00GMT. Street forecast is for a slight uptick to 93.0 from previous reading of 92.6. Elsewhere, Richmont Fed President Thomas Barkin is scheduled to speak at 15:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Aug 2020 05:30GMT

USD/JPY - 106.51... The greenback traded with a firm bias in Asia and Europe yesterday on the return of risk sentiment due to U.S.-China trade optimism and price gained to 106.49 before retreating to 106.26 at New York open. However, renewed buying there lifted the pair and dollar rose to session highs at 106.57 in New York morning before stabilising.

Dollar's break above previous resistance at 106.21 to 106.57 yesterday suggests near term decline from Augu'st peak at 107.04 has made a low at last week's bottom at 105.11 and consolidation with upside bias remains for stronger retracement to 106.80/90. Bids are now seen at 106.20/30 with stops building up below there whilst initial offers are noted at 107.00/10.

Pay attention to the release of U.S. durable goods at 12:30GMT. Street forecast is 4.3% vs previous reading of 7.6%.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 27 Aug 2020 05:30GMT

EUR/USD - 1.1828... The single currency swung wildly in hectic trading yesterday as despite edging up to 1.1840 in Asia, price dropped to session lows at 1.1773 at New York open on usd's brief strength on the back of upbeat U.S. data. However, the pair erased its losses and rebounded strongly to 1.1838 in late New York, then to 1.1849 today in Asia before retreating again.

Euro's intra-day re-test of Monday's high at 1.1749 suggests near term upmove from last Friday's low at 1.1755 would resume after consolidation and head to 1.1860/65, however, offers at 1.1860/70 would limit upside and yield another retreat later. Below 1.1773 would bring re-test of 1.1755 later.

In the absence of major economic data from EU today, pay attention to comments from ECB board member Philip Lane at 15:50GMT, who is scheduled to speak at the 44th Economic Policy Symposium.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1832... The single currency went through a volatile session in New York yesterday as despite initially rebounding to 1.1849 in Asia, price dropped to 1.1795 ahead of New York open before jumping to an intra-day high at 1.1901 after Fed Chairman Powell's initial remarks. However, the pair then swiftly erased its gains and tumbled to session lows at 1.1763 on usd's broad-based rally before staging a strong recovery to 1.1834 in New York afternoon and then trading sideways today.

Euro's selloff from 1.1901 to 1.1763 yesterday suggests the recovery from last Friday's low at 1.1755 has ended there and subsequent rebound would yield consolidation before prospect of another retreat later.
Offers are now seen at 1.1850/60 and more above at 1.1870/80 with stops building up above there whilst initial bids are noted at 1.1730/40.

Pay attention to the release of EU business climate, economic sentiment and consumer confidence at 09:00GMT. Street forecasts are -1.18, 85.0 and -14.7 vs previous readings of -1.80, 82.3 and -14.7 respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1911... The single currency rallied to 1.1919 in European morning on Friday on usd's broad-based weakness before retreating sharply to 1.1868 in New York morning. However, the pair found renewed buying there and gained to 1.1929 in Asian morning today and continues to trade with a firm bias.

Euro's intra-day break above Friday's high at 1.1919 to 1.1929 signals early correction from August's fresh 2-year peak at 1.1965 has ended at 1.1755 earlier and consolidation with upside bias remains for further gain to 1.1950/55 but aforesaid top should hold on 1st testing and yield retreat. Bids are now seen at 1.1880/90 with stops building up below there whilst offers are noted at 1.1960/70.

Pay attention to the release of Germany's CPI mm and yy at 12:00GMT. Street forecasts are -0.2% and 0.1% vs previous readings of -0.5% and -0.1% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 01 Sept 2020 05:30GMT

USD/JPY - 105.68... The greenback found renewed buying at 105.30 in Asia yesterday and rallied to session highs at 106.09 in early New York morning due partly to cross-selling in jpy before retreating to 105.79 on profit-taking. The pair then staged a rebound to 106.03 at Asian open today, however, renewed selling there knocked price back down and dollar fell to 105.67 on usd's broad-based weakness.

Dollar's retreat from yesterday's high at 106.09 suggests the recovery from last Friday's low at 105.21 has ended there and consolidation with downside bias remains, below 105.21 would bring re-test of August's bottom at 105.11 later.

Offers are now seen at 105.80/90 with stops building up above there whilst initial bids are noted at 104.90/00.

Pay attention to the release of US ISM manufacturing PMI at 14:00GMT. Street forecast is for a slight uptick to 54.5 from previous reading of 54.2.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 Sept 2020 05:30GMT

USD/JPY - 106.08... The greenback went through a roller-coaster ride on Monday as despite edging up to 106.03 in Asia, price swiftly dropped to session lows at 105.60. However, lack of follow-through selling triggered short-covering and price then rose to an intra-day high at 106.15 in New York morning due partly to upbeat U.S. data. Then pair then weakened to 105.86 at Asian open today before staging another recovery to 106.12.

Dollar's rebound from Monday's low at 105.21 to 106.15 yesterday suggests further choppy trading above August's bottom at 105.11 would continue with upside bias and marginal gain is likely.
However, offers at 106.40/50 and more above at 106.60/70 should cap current rise and yield retreat later.

Pay attention to release of U.S. ADP employment at 12:15GMT. Street forecast is 950k, up significantly from previous reading of 167k. Elsewhere, New York Fed President John Williams will speak at 14:00GMT whilst Minneapolis Fed President Kashkari will deliver remarks at 18:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1828... The single currency met renewed selling at 1.1929 in Asia yesterday and retreated to 1.1893. Intra-day decline accelerated in European morning due partly to cross-selling in euro especially vs sterling and dropped to an intra-day low at 1.1823 in New York morning on usd's weakness before staging a rebound to 1.1857 near New York close on short-covering. The pair then retreated again to 1.1825 in Asia today and continues to remain under pressure.

Euro's fall to 1.1823 yesterday suggests MT uptrend has made a temporary top at Tuesday's fresh 2-year peak at 1.2011 and consolidation with downside bias remains for weakness to 1.1780/90.
Offers are now seen at 1.1850/60 with stops building up above there whilst initial bids are noted at 1.1760/70.

There is a slew of services PMIs to be released from the euro area today but one should pay attention to the release of EU retail sales at 09:00GMT.
Street forecasts for mm and yy are 1.5% and 3.5% vs previous readings of 5.7% and 1.3% respectively.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1846... Although the single currency met renewed selling at 1.1855 in Australia yesterday and dropped to session lows at 1.1790 at European open on usd's strength, price erased its losses and rallied to 1.1848 in New York morning, then higher to an intra-day high at 1.1864 in New York afternoon on usd's weakness together with cross-buying in euro especially vs sterling. Lack of follow-through buying triggered profit-taking and price retreated to 1.1839 at Asian open today before trading sideways.

Despite yesterday's rally from 1.1790 to 1.1864, subsequent retreat suggests the recovery has possibly ended, below 1.1800/05 would confirm and bring re-test of said support, break would extend decline from Tuesday's 2-year peak at 1.2011 to 1.1763.
Offers are now seen at 1.1750/60 with stops building up above there whilst initial bids are noted at 1.1740/50.

Pay attention to the release of Germany industrial orders at 06:00GMT. Street forecasts for mm and yy are 5.0% and -20.4% vs previous readings of 27.9% and -11.3% respectively. Elsewhere, ECB Chief Economist Philip Lane is scheduled to speak at the ECB Annual Research Conference at 15:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 106.25... The greenback swung wildly in hectic trading on Friday as gaining to 106.50 in New York morning after U.S. jobs report showed a sharp drop in U.S. unemployment, price pared its gains and retreated to 106.18 in New York afternoon on profit-taking. Price then rebounded to 106.38 in Asia today before retreating again on cross-buying in jpy.

Dollar's retreat from 106.50 on Friday suggests further choppy trading inside recent 105.21-106.55 range would continue and as long as 106.01 holds, upside bias remains and above 106.55 would head to 106.90/95.
Bids are now seen at 106.10/20 with stops building up below there whilst initial offers are noted at 107.00/10.

There will be no economic data out or speakers from the U.S. today as markets will remain closed for Labour Day holiday.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Sept 2020 05:30GMT

EUR/USD - 1.1806... The single currency remained under pressure in Asia yesterday and despite a brief rebound to 1.1848 in early European morning, price dropped to 1.1813 in Europe before trading sideways in holiday-thinned North American session. The pair then met renewed selling at 1.1822 in Australia today and fell to 1.1796 in Asian morning on usd's broad-based rebound.

Euro's intra-day break below yesterday's low at 1.1813 signals a re-test of Fri's trough at 1.1782 would be seen after consolidation, break there would extend decline from last Tuesday's 2-year peak at 1.2011 to 1.1760/65. Offers are now tipped at 1.1820/30 with stops building up above there whilst initial bids are noted at 1.1740/50.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Sept 2020 05:30GMT

USD/JPY - 105.93... The greenback swung wildly in hectic trading on Tuesday as U.S. markets resumed trading after Monday's holiday. The pair met renewed selling at 106.38 in European morning and tumbled to 105.87 in New York morning on safe-haven buying in jpy. The price then recovered to 106.07 in New York afternoon before falling again to 105.84 in Australia today.

Intra-day break below yesterday's low at 105.87 signals early recovery from 105.21 has ended at 106.55 last Thursday and downside bias remains for weakness to 105.30.
Offers are now seen at 106.00/10 and more above at 106.20/30 with stops building up above there whilst initial offers are noted at 105.10/20.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1816.. Although euro continued its recent losing streak initially in Wednesday's trading and fell to a near 4-week trough of 1.1754 ahead of New York open, price jumped after Bloomberg news reported some ECB officials are becoming upbeat in the eurozone's economic outlook and hit session highs of 1.1833 in New York morning before retreating to 1.1800 on profit taking.

As the rebound from 1.1754 signals recent fall from September's fresh 2-year peak at 1.2011 has made a temp. low, consolidation with upside bias is seen ahead of ECB's monetary policy announcement n then ECB President Lagarde's post-ECB press conference.
Bids (profit taking) are noted at 1.1800/1.1790 and more below with stops below 1.1750 whilst offers are tipped at 1.1830/40 with stops touted above 1.1865.

Ahead of ECB announcement, the euro area countries will release eco. data starting with France's industrial output, then the same from Italy.

 

[AceTRaderForex]

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

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

USD/JPY - 106.15.. The pair moves narrowly n comfortably abv the 106.00 handle in subdued Asian morning after retreating fm Thur's 106.29 high to 105.99 in NY morning despite usd's wild swings vs other G7 counterparts.

As the greenback erased intra-day losses in NY morning n caught a bid on safe-haven buying in New York afternoon due to renewed weakness in U.S. stocks, consolidation with upside bias is seen.
Bids are noted at 106.10-00 with stops below 105.80 while offers are tipped at 106.25/30 with stops above 108.55.

T.G.I.F., the U.S. will release core CPI, CPI n weekly earnings at 12:30GMT, then Federal budget at 18:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1849... The single currency traded with a firm bias in Europe on Friday and gained to 1.1874 before retreating to 1.1827 in New York afternoon on usd's rebound together with cross-selling of euro especially vs sterling. Price then recovered to 1.1850 in Asian morning today on usd's broad-based weakness.

Euro's retreat from Friday's high at 1.1874 to 1.1827 suggests further choppy trading below Thursday's high at 1.1917 would continue with downside bias and below support at 1.1811 would confirm recovery from last Wednesday's low at 1.1754 has ended there and extend to 1.1780/90. Offers are now seen at 1.1860/70 with stops building up above there whilst initial bids are noted at 1.1750/60.

Pay attention to EU industrial production at 09:00GMT. Street forecasts for mm and yy are 4.0% and -8.2% vs previous readings of 9.1% and -12.3% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Sept 2020 05:30GMT

USD/JPY - 105.66... The greenback gained some respite after yesterday's selloff and edged up to 105.74 in Australia before retreating again to 105.62. Earlier, the pair remained under pressure yesterday and weakened to 105.92 in European morning and intra-day decline accelerated in New York morning due to the return of risk sentiment and price tumbled to 105.56 due partly to the rally in U.S. stocks.

Dollar's fall to 105.56 yesterday suggests early recovery from 105.21 has ended at 106.55 and consolidation with downside bias remains for weakness to 105.30. However, bids above August's bottom at 105.11 at 105.20/30 should contain downside and yield another rebound later.

There is a slew of data to be released from the U.S. today but one should pay attention to industrial production and manufacturing output at 13:15GMT. Street forecasts are 1.0% and 0.8% vs previous readings of 3.0% and 3.4% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Sept 2020 05:30GMT

USD/JPY - 105.31... Although the greenback traded with a firm bias in Asia and edged up to session highs at 105.81 in European morning, price erased its gains and dropped to an intra-day low at 105.31 in New York morning before staging a recovery to 105.54 in New York afternoon. However, the pair met renewed selling there and fell to 105.26 in Asia today on active cross-buying in jpy.

Dollar's intra-day break below yesterday's low at 105.31 suggests consolidation with downside bias remains for weakness to support 105.21, below would bring re-test of August's bottom at 105.11 where break would extend decline from 107.04 to 104.50/60 later. 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 104.40/50.

Market focus is the Federal Reserve's rate decision at 18:00GMT. Although its widely expected that the central bank will keep its rate unchanged at 0.25%, one should pay attention to Chairman Jerome Powell's press conference at 18:30GMT, where he is likely to provide an insight on what further steps, if any, the bank would take to counter the country's stagnant growth.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1765... The single currency went through a roller-coaster ride yesterday as despite rising from Asian low at 1.1830 to session highs at 1.1882 in European morning, price dropped to 1.1810 in New York morning. The pair then briefly rebounded to 1.1854 before swiftly falling to 1.1789 on usd's strength in post-FOMC trading together with cross-selling of euro especially vs sterling. Price then met renewed selling at 1.1819 in Australia today and fell to 1.1761 in Asia before stabilising.

Euro's intra-day break below yesterday's low at 1.1789 suggests early recovery from last Wednesday's near 4-week trough at 1.1754 has ended at 1.1917 last Thursday and consolidation with downside bias remains for a re-test of said support, break would extend decline from 107.04 (August) to 1.1712 later.
Offers are now seen at 1.1780/90 and more above at 1.1800/10 with stops building up above there whilst initial bids are noted at 1.1700/10.

Data to be released on Thursday :
Swiss trade balance, exports, imports, Italy trade balance, EU construction output, HICP, core HICP, UK BoE interest rate decision, BoE asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing survey, and Canada ADP employment change.