AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Oct 23: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 23 Oct 2020 05:30GMT

USD/JPY - 104.75... Although the Japanese yen traded with a firm bias and gained to 104.74 in Asia yesterday, price fell to 104.48 in European morning on cross-selling in jpy. However, renewed buying interest emerged and the pair rose to 104.92 near New York close on usd's broad-based strength, then 104.93 in Australia today before retreating to 104.70 at Asian open.

Despite dollar's fall below previous October's 104.95 low (now resistance) to a near 1-month bottom at 104.35 on Wednesday, subsequent strong bounce to 104.93 today suggests recent decline has made a temporary trough and 104.95 needs to hold to maintain bearish view, below 104.35 would bring re-test of 104.01, where break would extend downtrend from 111.71 (March) to 103.85/90.
Offers are tipped at 104.85/90 with stops above there while bids are noted at 104.45-40 with move below and stops below 104.10-00.

On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 13:45 GMT and traders should keep an eye out for development of U.S. stimulus talks as if it remains standstill, we may see another round of safe-haven usd buying.

 

[AceTRaderForex]

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

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

USD/JPY - 104.78... The greenback found renewed buying at 104.66 in Asian morning yesterday and rose to 104.97 in early European trading. The pair then ratcheted higher to 105.05 in New York morning on active safe-haven usd buying on weakness in global stocks before retreating to 104.83, then 104.75 in Asian morning today.

Despite dollar's erratic rise from last Wednesday's near 1-month trough at 104.35 to 105.05 yesterday, subsequent retreat to 104.75 today suggests recovery has possibly ended and below 104.35 would bring marginal weakness, however, loss of momentum should keep price above September's 6-month bottom at 104.01.
Offers are tipped at 104.85/90 with stop above 105.10 while bids are noted at 104.50-45 with more below and stops below 104.30-25.

On the calendar front, U.S. will release a slew of data, please refer to our EI page for more details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1780... The single currency went through a volatile session on Tuesday. Euro traded with a firm bias in Asia and gained to 1.1835 before retreating to 1.1797 in European morning. Despite rising to 1.1838 in New York morning on usd's weakness, the pair met renewed selling there and easily penetrated last Friday's 1.1788 low to 1.1770 in Australia today due to safe-haven usd buying on concern over potential lockdown in the euro zone due to surge in coronavirus infections.

Despite euro's erratic rise from September's 8-week trough at 1.1613 to a 1-month high at 1.1880 last Wednesday, subsequent fall to 1.1788 Friday, then 1.1770 today suggests temporary top is made and consolidation with downside bias would be seen for stronger retracement to 1.1715 (61.8% r), however, oversold condition should keep price above October's 1.1689 low today. Hence, selling on recovery is favoured.
Offers are tipped at 1.1785/90 with stops above 1.1800/05 while bids are noted at 1.1745-40 with move below and stops below 1.1700.

On the calendar front, we have a slew of data from the euro zone today, please refer to our EI page for more details. Traders should also pay close attention to lockdown headlines as well as development of U.S. stimulus talks.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1753... The single currency went through a volatile day yesterday as euro began falling in New York afternoon on Tuesday on news of potential lockdown in France and Germany due to surge in Covid-19 infections. The pair fell to 1.1770 in Australia and despite rebounding to 1.1787 in Asian morning, renewed selling emerged and intra-day fall accelerated in European session and tumbled to an 8-day low of 1.1718 at New York open on active safe-haven usd buying on weakness in global stock market. The pair then rebounded in tandem with cable to 1.1760 and stabilises in Asian morning today.

Despite euro's resumption of upmove from September's 8-week trough at 1.1613 to a 1-month high at 1.1880 last Wednesday, subsequent retreat and yesterday's selloff to 1.1718 suggests temporary top is made and consolidation would be seen ahead of ECB interest rate decision before re-test of October's 1.1689 low, where break would head to 1.0675/80 but 1.1650/60 should hold.
Offers are tipped at 1.1755/60 with stops above there while bids are noted at 1.1705-00 with stops below 1.1680.

Market focus today will be the European Central Bank meeting as it is expected new stimulus measures will be introduced to tackle second wave of coronavirus pandemic.
Therefore, traders should pay close attention to President Christine Lagarde's press conference at 13:30 GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1686... Although the single currency rebounded to 1.1758 in Asian morning yesterday and then moved sideways, renewed selling emerged at European open and the pair later tumbled to a 1-month low at 1.1651 in New York after the European Central Bank kept interest rates unchanged but hinted further monetary easing by December before rebounding to 1.1688 in Asian morning today on usd's broad-based profit taking.

Although euro's rebound from 1.1651 yesterday suggests near term decline from last Wednesday's 1.1880 high to retrace upmove from September's 8-week trough at 1.1613 has made a temporary low and choppy sideways swings would be seen, reckon 1.1695/00 should hold and yield another fall later, below 1.1651 would bring re-test of 1.1613, break would extend downtrend from September's 2-year peak at 1.2011 to 1.1685/90.
Offers are tipped at 1.1690/95 with stops above 1.1720 while bids are noted at 1.1650-45 with more below and stops below 1.1600.

On the data front, euro zone will release a lot of data in European session, please refer to our EI page for more details. Traders should remain cautious on news headlines related to U.S. stimulus talks and U.S. presidential election.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1642... The single currency stabilizes after last week's selloff from 1.1864 on Monday to a fresh 1-month low of 1.1640 (EBS) on Friday due to active safe-haven usd buying as France and Germany heads to another round of lockdown due to surge in Covid-19 infections. The pair rebounded to 1.1656 in New Zealand today and fell briefly to 1.1639 ahead of Asian open and trades narrowly.

Despite euro's three-legged rise from September's 8-week trough at 1.1613 to a 1-month peak of 1.1880 in October, subsequent fall to 1.1640 on Friday, then briefly lower today suggests correction has ended and re-test of 1.1613 would be seen after consolidation, where break would extend downtrend from September's 2-year peak of 1.2011 to 1.1585/90 before prospect of another bounce due to loss of momentum.
Offers are building up at 1.1645/50 with stops above 1.1670 while bids are noted at 1.1620 with more below and stops below 1.1600.

On the data front, today is Markit manufacturing PMI day; street forecasts for Germany and euro zone are 58.0 and 54.4 respectively versus prior readings of 58.0 and 54.4. Any readings below, we may see another round of weakness in euro. We have ECB's Olli Rehn scheduled to speak at 12:00 GMT, followed by ECB's Yves Mersch at 14:00 GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 104.77... Although the greenback found renewed buying at 104.51 in New Zealand yesterday and rose to 104.94 in Europe on usd's broad-based strength, price then retreated to 104.64 at New York open due to weakness in U.S. Treasury yields before recovering to 104.87 and then moves sideways in Asian morning today.

Although dollar's erratic rise from last Thursday's 5-week low at 104.03 to 104.94 yesterday suggests recent decline from October's 106.10 high has made a temporary low, subsequent retreat signals recovery has possibly ended, below 104.35/40 would confirm this view and head to September's 6-month trough of 104.01.
Offers are tipped at 104.85/90 with stops above 105.05 while bids are noted at 104.35/40 with stops below 104.00.

On the calendar front, U.S. will release a slew of data, please refer to our EI page for more details. Focus today will be on U.S. presidential election with latest polling at Joe Biden leading. Traders should keep an eye out for such headlines.

 

[AceTRaderForex]

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

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

USD/JPY - 104.34... The greenback went through a volatile session on Wednesday on uncertainty over U.S. presidential election. Although dollar briefly dipped to 104.38 at Asian open, the pair easily rose above last week's high at 105.05 (Monday) to a 13-day top of 105.34 on active safe-haven usd buying as election results tightened. However, the pair then tumbled to 104.16 in Europe on cross-buying in yen before rebounding in tandem with rise in U.S. stocks to 104.62 in New York and then weakened again to 104.22 at Asian open today.

Dollar's selloff from 105.34 to 104.16 suggests recovery from last Thursday's 5-week trough at 104.03 has ended and re-test of September's 6-month bottom at 104.01 would be seen after consolidation, where break would extend medium term decline from 111.71 (March) to 103.67/70.
Offers have been lowered to 104.40/45 with stops above 104.60/65 while bids are noted at 104.05-01 with stops below there.

Market focus today will be on Federal Reserve's interest rate decision due out later at 19:00 GMT and although it is widely expected that rates will remain unchanged, traders should pay attention to the tone of Chairman J. Powell's press conference at 19:30 GMT. As U.S. election results are closer to the finishing line, investors should keep an eye out for latest election count.

 

[AceTRaderForex]

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

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

USD/JPY - 103.65... The greenback recovers after yesterday's sell. The pair met renewed selling at 104.55 in Australia on Thursday and fell to 104.23 at Asian open and despite rebounding to 104.47 at European open, price penetrated September's 104.01 low and tumbled to a 7-1/2 month bottom at 103.45 in post-FOMC New York on usd's broad-based weakness as Fed kept interest rates unchanged with loose monetary policy. Price then bounced to 103.76 in Asian morning today on short-covering.

Although dollar's rebound from 103.45 suggests medium term decline from 111.71 (Mar) has made a minor low and choppy sideways swings would be seen ahead of U.S. key jobs report before prospect of another fall to 103.10/20. Offers are tipped at 103.70/75 with stops above 104.00/05 while bids are noted at 103.20 with stops below there.

Market focus today will be on U.S. jobs data due out at 13:30 GMT. Street forecast for non-farm payrolls is 600k, versus prior readings of 661k. While consensus for average earnings MM/YY are 0.2%/4.6% versus previous readings of 0.1%/4.7%.

 

[AceTRaderForex]

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

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

USD/JPY - 103.32... The greenback moves sideways in Asian morning after selloff from last week's high at 125.34 to a 7-1/2 month of 103.18 in Europe on Friday due to usd's broad-based weakness before recovering to 103.71 in post-NFP but only to weaken again to 103.20 in New Zealand today.

Although dollar has rebounded after resumption of medium term from 111.71 (March) to 103.18 on Friday, as 103.71 has capped recovery, consolidation with downside bias remains for weakness to 102.90/00, however, loss of downward momentum should keep price above 102.65/70 today.
Offers are tipped at 103.60/70 with more above, while stops above 104.00/05 .
Bids are noted at 103.20 with stops below 103.00.

On the calendar front, although there will be no data from the U.S. today, we have a few Fed officials scheduled to speak later, please refer to our EI page for more details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1833... Although the single currency moved sideways in Asia on Monday, price retreated from 1.1898 at European open to 1.1861 before briefly rising to a 7-week high at 1.1919 in New York morning. However, renewed selling interest emerged and knocked price down to 1.1796 on usd's broad-based strength due to rally in U.S. Treasury yields before recovering to 1.1836, then 1.1839 in Asian morning today.

Although euro's rally from last Wednesday's 3-month trough at 1.1603 to 1.1919 yesterday suggests decline from September's 2-year peak of 1.2011 has made a temporary low, subsequent sharp retreat would pressure price to 1.1755/60 after consolidation, however, reckon 1.1724 (61.8% r fm 1.1603-1.1919) should hold and yield rebound. Offers are tipped at 1.1835/40 with stops above 1.1860 while bids are noted at 1.1790-85 with more below and stops below 1.1740-30.

On the data front, Germany will release ZEW economic sentiment and ZEW current conditions at 10:00 GMT, street forecasts are 41.7 and -65.0 respectively, which are significantly lower than prior readings of 56.1 and -59.5.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1826... The single currency went through a roller-coaster ride on Tuesday. Although price gained from 1.1808 at Asian open to 1.1843 in early European trading, price met renewed selling and fell to 1.1781 on cross-selling in euro, especially versus sterling. However, the pair then rebounded in tandem with rise in cable to 1.1834 in New York and then traded broadly sideways.

Monday's selloff from a 7-week high at 1.1919 to 1.1796 on usd's broad-based strength due to Pfizer news and rise in U.S. Treasury yields, then 1.1781 yesterday suggests near term upmove from last Wednesday's 3-month trough at 1.1603 has made a temporary top and subsequent rebound would bring consolidation ahead of European open before prospect of another drop to 1.1760/70, however, reckon 1.1724 (61.8% r) should hold.
Offers are tipped at 1.1835/40 with stops above 1.1860/70 while bids are noted at 1.1795-90 with stops below 1.1750.

Although there are will be no economic data from the euro zone today, we have a few ECB officials scheduled to speak at the ECB Forum on Central Banking today with focus on President Christine Lagarde's speech at 13:00 GMT. Please refer to our EI page for more details.

 

[AceTRaderForex]

AceTraderFx Nov 12: Intra-Day News and Views & data to be released today – USD/JPY

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

USD/JPY - 105.27... The greenback found renewed buying at 105.01 in Asia on Wednesday and rose to 105.54 in early European trading and then gained to a 3-week high at 105.67 in holiday-thin North American session as U.S. markets were closed for Veterans Day holiday due to usd's broad-based strength before retreating to 105.22 in Asian morning today on active safe-haven yen buying.

Despite dollar's brief break above Monday's 105.64 high to 105.67, subsequent retreat and intra-day break of 105.37/40 suggests near term upmove from last Friday's 7-1/2 month trough at 103.18 has made a temporary top and below 105.01 would head to 104.72/74, however, reckon 104.43 (50% r) should hold and yield another bounce.
Some bids are noted at 105.00-104.95 with stops below 104.70.
While offers are tipped at 105.60/65 with stops above 106.00/10.

On the calendar front, U.S. will release CPI MM/YY at 13:30 GMT, with street forecasts at 0.1%/1.3% versus prior readings of 0.2%/1.4%. At the same time, weekly jobless claims and continued jobless claims will be due out and consensus are at 735k and 6.900M respectively versus previous readings of 751k and 7.285M. Traders should also remain cautious on U.S. election related headlines.

 

[AceTRaderForex]

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

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

USD/JPY - 104.88... The greenback met renewed selling at 105.47 at Asian open yesterday and later retreated to 105.08 in New York after on cross-buying in Japanese yen, then fell to 104.87 in Asian morning today due to drop in U.S. Treasury yields.

Despite dollar's resumption of upmove from last Friday's 7-1/2 month trough at 103.18 to 105.64 on Monday, then Wednesday's brief break there to a 3-week high at 105.67, subsequent retreat suggests first leg of correction has ended and below 104.70/74 would bring stronger retracement to 104.43 (50% r) before prospect of another bounce. Some bids are noted at 104.75-70 with stops below 104.50 while offers are tipped at 105.45/50 with stops above 105.80/85.

On the calendar front, U.S. will release PPI at 13:30 GMT followed by University of Michigan sentiment at 15:00 GMT, with street forecasts at 82.0 versus prior readings of 81.8.

 

[AceTRaderForex]

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

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

USD/JPY - 105.54... Although the greenback opened higher and gained to 104.87 (Reuters) in New Zealand today, price met renewed selling on continued usd's weakness and fell below Friday's 104.57 low to 104.54.

Despite dollar's rally from November's 7-1/2 month trough at 103.18 to a 3-week high at 105.67 last Wednesday, subsequent erratic fall to 104.57 on Friday, then intra-day brief break there suggests first leg of correction has ended and mild downside bias would be seen, however, reckon 104.43 (50% r) should hold and yield rebound, above 105.14/15 would head back to 105.62/67.
Bids are noted at 104.45 with stops below there while offers are tipped at 104.85/90 with more above and stops above 105.50.

On the calendar front, U.S. will only release New York Fed manufacturing index at 13:30 GMT and we have San Francisco Fed's President Mary Daly scheduled to speak later at 18:45 GMT followed by Federal Reserve Vice Chair Richard Clarida at 19:00 GMT on U.S. monetary policy.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1861... The single currency went through a roller-coast ride. Although euro rose from 1.1830 in New Zealand to 1.1868 in early European trading, price erased intra-day gains and fell to 1.1815 at New York open. However, the pair then staged a strong rebound to 1.1856 near New York close on return of risk sentiment after Moderna Inc reported positive Covid-19 vaccine results as well as rise in U.S. stocks. Price then edged higher to 1.1866 in Asian morning today.

Despite yesterday's retreat from 1.1868 to 1.1815, subsequent strong rebound suggests pullback has ended and near term upmove from last Wednesday's 1.1746 low would head to 1.1890 after consolidation but break needed to bring re-test of November's 7-week high of 1.1919, above would extend recent uptrend from November's 3-month trough at 1.1603 to 1.1660/65 before prospect of another fall.
Bids are noted at 1.1845-40 with more below and stops below 1.1800 while offers are tipped at 1.1880/90 with stops above 1.1915/20.

Although there are no major data from the euro zone today, we have a couple of ECB officials scheduled to speak with focus on President Christine Lagarde at 16:00 GMT where she participates in an online Q&A during the Bloomberg New Economy Forum. Traders should also pay close attention to Covid-19 vaccine headlines as well as U.S. election related news.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1855... The single currency initially gained to 1.1867 in Asian morning yesterday before retreating to 1.1844 in European morning on cross-selling in euro. However, renewed buying interest emerged and price rallied to a 1-week high at 1.1893 shortly after New York open but only to weaken again to 1.1858 on profit-taking, then to 1.1851 in Asian morning today.

Despite euro's resumption of upmove from last Wednesday's 1.1746 low to 1.1893 yesterday, subsequent retreat suggests choppy trading below November's 7-week peak at 1.1919 would continue and below 1.1815 would bring stronger retracement to 1.1788/90 but 1.1746 should hold, yield another bounce.
Some offers are tipped at 1.1865/70 with stops above 1.1900 while bids are noted at 1.1845 with move below and stops below 1.1800.

On the data front, EU will release HICP and core HICP at 10:00 GMT and we have a few ECB officials scheduled to peak, please refer to our EI page for more details.

 

[AceTRaderForex]

AceTraderFx Nov 1 9: Intra-Day News and Views & data to be released today – EUR/USD

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

EUR/USD - 1.1848... The single currency went through a roller coaster ride on Wednesday. Although euro gained from 1.1851 in Asian morning to 1.1891 in European morning on usd's weakness, price retreated to 1.1853 at New York open and then rebounded to 1.1877 but only to drop again to 1.1833 shortly after Asian open today on safe-haven usd buying due to later fall in U.S. stocks.

Although euro's resumption of upmove from last Wednesday's 1.1746 low to 1.1893 on Tuesday suggests early correction from November's 7-week peak at 1.1919 has ended, subsequent erratic fall and intra-day break of 1.1844 support to 1.1833 signals consolidation with downside bias would be seen for weakness to 1.1800 but 1.1788/90 should hold and yield rebound.
Therefore, selling on recovery is favoured, offers are tipped at 1.1850/55 with more above and stops above 1.1900 while bids are noted at 1.1805-00 with stops below there.

Market focus today will be ECB's President Christin Lagarde's comments as she appears at the Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Frankfurt at 08:00 GMT and as ESRB Chair at 10:00 GMT.

 

[AceTRaderForex]

AceTraderFX Nov 20: Intra-Day News and Views & data to be released today – EUR/USD

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

EUR/USD - 1.1871... The single currency went through a volatile session on Thursday. Although euro rebounded from 1.1833 at Asian open to 1.1852 at European open, price dropped to 1.1817 on active safe-haven usd buying. However, the pair erased intra-day losses and rallied to 1.1882 near New York close as U.S. Democrats and Republicans agreed to resume Covid-19 relief talks before weakening to 1.1866 in Australia today on profit-taking but then recovered to 1.1878 in Asian morning.

Despite euro's erratic fall from Tuesday's 1-week high at 1.1893 to 1.1817 yesterday, subsequent rise to 1.1882 suggests re-test of November's 7-week peak at 1.1919 would be seen after consolidation, where break would extend recent upmove from November's 3-month trough at 1.1603 to 1.1935/40 before prospect of retreat due to loss of upward momentum.
Bids are noted at 1.1870-65 with move below and stops below 1.1830 while offers are tipped at 1.1900/10 with stops above 1.1940/50.

On the data front, only Italy will release industrial orders and industrial sales at 09:00 GMT. Also, market focus will be at 08:00 GMT, where ECB President Christine Lagarde will speak at the online Frankfurt European Banking Congress, followed by German Finance Minister Olaf Scholz and European Commission Vice President Frans Timmermans. Traders should also keep an eye out for any U.S. stimulus talks related headlines.

 

[AceTRaderForex]

AceTraderFx Nov 23: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 23 Nov 2020 05:30GMT

USD/JPY - 103.75... Although the greenback recovered from 103.79 to 103.86 in New Zealand, price retreated to 103.72 in holiday-thin Asian morning as Japanese markets are off for Labour Thanksgiving Day due to renewed usd's weakness together with drop in U.S. Treasury yields.

Despite dollar's strong rebound from last Wednesday's 8-day low at 103.66 to 104.21 on Thursday, subsequent retreat to 103.71 on Friday suggests recovery has ended and decline from November's peak at 105.67 would head to 103.45/50 after consolidation, however, 'loss of downward' momentum should keep price above November's 7-1/2 month trough of 103.18.
Hence, selling on pullback is still favoured, offers are tipped at 103.85/90 with more above and stops above 104.40 while bids are noted at 103.50-45 with stops below there.

On the calendar front, U.S. will release national activity index at 13:30 GMT, followed by Markit manufacturing PMI and Markit services PMI at 14:45 GMT with street forecasts at 53.0 and 55.3 respectively versus prior readings of 53.4 and 56.9. We also have Richmond Fed President Thomas Barkin scheduled to peak at 17:30 GMT and then San Francisco President Mary Daly at 18:00 GMT.