AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

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

USD/JPY - 104.55... Although the greenback fell from 103.86 in New Zealand to 103.69 in Europe yesterday, price found renewed buying and rallied to 104.63 in New York on broad-based usd's strength following release of robust U.S. manufacturing and services PMI data before retreating to 104.28 on profit-taking. The pair then briefly rose to 104.64 at Asian open today.

Despite dollar's resumption of decline from November's 3-week high at 105.67 to retrace upmove from November's 7-1/2 month trough of 103.18 to an 8-day low at 103.66 last Wednesday, yesterday's rally above 104.21 res to 104.64 today suggests temporary bottom is made and further headway to 105.13/15 would be seen after consolidation before prospect of retreat later.
Bids are noted at 104.45-40 with more below and stops below 103.90 while offers are tipped at 104.80/85 with stops above 105.00/10.

On the calendar front, there will be a slew of data from the U.S. today, please refer to our EI page for more details. We also have a few Fed officials scheduled to speak with Vice Chair Richard Clarida at 17:45 GMT on "The Federal Reserve's New Framework" in a panel before virtual IMF Conference.

 

[AceTRaderForex]

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

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

USD/JPY - 104.55... The greenback went through a roller-coaster ride on Tuesday. Despite dollar's one-tick break above Monday's 104.63 high to 104.64 at Asian open, price met renewed selling and fell to 104.15 in Europe before rising to a 1-week high of 104.75 in New York morning on rally in U.S. Treasury yields but only to weaken to 104.43 near the close on broad-based usd's weakness. The pair then recovers to 104.59 in Asian morning today.

Despite dollar's resumption of decline from November's 105.67 high to 103.66 last Wednesday, Monday's jump to 104.63 suggests temporary low is made and as price has risen after pullback to 104.15, consolidation with upside bias remains for gain to 105.13/15 before prospect of retreat.
Bids are noted at 104.50-45 with stops below 104.15 while offers are tipped at 105.00/10 with stops above there.

As the U.S. markets will be closed for Thanksgiving Day on Thursday, some U.S. economic data has been moved forward to today, please refer to our EI page for more details. Also, FOMC will release the minutes from its November 4-2, 2020 policy meeting at 19:00 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 26 Nov 2020 05:30GMT

USD/JPY - 104.33... The greenback moved broadly sideways on Wednesday as focus was on other major currencies. Price retreated from 104.59 in Asian morning to 104.27 in New York morning due to fall in U.S. Treasury yields before recovering to 104.47 near the close on cross-selling in the Japanese yen and then weakened to 104.31 in Asian morning today.

Although dollar's jump from this week's low at 103.69 to 104.63 on Monday, then 104.75 (Tuesday) suggests decline from November's 105.67 peak has made a temporary bottom at 103.66 last Wednesday, subsequent retreat to 104.27 yesterday signals choppy sideways swings with downside bias would be seen for weakness to 103.85/90 but 103.66/69 should hold, yield another bounce.
As usd remains weak in Asian morning, selling on recovery is favoured, offers are tipped at 104.50/55 with stops above 104.80/90 while bids are noted at 104.00-103.90 with stops below there.

Data to be released on Thursday:
New Zealand imports, exports, trade balance, Australia capital expenditure, building capex, Japan leading economic index, coincident index,.
Germany consumer sentiment, Swiss non-farm payrolls, France consumer confidence, Italy trade balance.
Today is U.S. market holiday.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 27 Nov 2020 05:30GMT

EUR/USD - 1.1913.. Trading the single currency proved to be tricky y'day as despite continuing this week's winning streak to a fresh 11-week peak of 1.1940 in early European morning, euro quickly erased intra-day gains n fell broadly on profit taking to as low as 1.1886 ahead of N. American open.

Price later rebounded to 1.1918 in tandem with sterling on short covering following upbeat Brexit news that EU's chief Brexit negotiator Barnir will continue talks with UK on Fri (see earlier update for details). Euro's rebound from 1.1886 has retained bullish for resumption of recent upmove to 1.1970/80 later today, however, loss of momentum should cap price below 2020 peak at 1.2011 (Sep).
Bids are noted at 1.1900-1.1890 with stops reported below 1.1880 while offer are tipped at 1.1930/40 with stops abv there.

The euro area countries will release a slew of eco. data in European morning, pls refer to our Economic Indicators section
for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1972.. The single currency continued its recent winning streak n climbed abv Fri's 1.1964 high (NY) to a 12-week top of 1.1975 (Reuters) after meeting renewed buying at 1.1956 at NZ open, suggesting price is en route twd its 2020 2-year peak at 1.2011 after consolidation, however, break of this key res is needed to retain recent bullishness.

Therefore, whilst trading euro fm the long side is the way to go as a daily close abv 1.2011 needed to extend MT uptrend twd next projected target ay 1.2065 later.
Order book is fairly thin on Monday, some bids are noted at 1.1950-40 with some stops below there. While offers are tipped at 1.1990/00 (profit taking) with stops touted abv 1.2015.

The euro area countries will release a slew of eco. data, pls refer to our EI section for details. There is a meeting of eurozone FinMins later today n ECB President Lagarde n board member Panetta will participate in in Eurogroup meeting (via videoconference).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 01 Dec 2020 05:30GMT

USD/JPY - 104.35.. The greenback moved narrowly on the first trading day in Dec but final month of 2020 in early Asian morning after Monday's wild swings. The pair staged a strong recovery from yesterday's near 1-week low of 103.84 to 104.34 in European morning but fell back to 103.92 in New York morning but later rallied to session highs of 104.40 near the close as the greenback caught a bid due to month-end demand.

Yesterday's 3-legged rise from 103.84 to 104.40 suggests further choppy swings above previous 103.66 sup would continue with near term upside bias, however, as broad outlook remains consolidative, reckon upside would falter below last week's high at 104.75 (Tue).
Bids are noted at 104.20-10 and more below with stops below 103.80. Offers are tipped at 104.45/50 n more above with stops reported above 104.75.

On the eco. data front, the U.S. will later release redbook sales, Markit mfg PMI, ISM mfg PMI n cibstruction spending. Fed Chairman J. Powell will testify before the Senate Banking Committee at 15:00GMT n we also have several Fed officials speaking in New York session (pls refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 02 Dec 2020 05:30GMT

USD/JPY - 104.36.. Despite extending near term rise from Monday's 103.84 to 104.57 in New York morning due to intra-day active cross-selling of yen on risk sentiment n rising U.S. yields, the pair finally succumbed to usd's broad-based weakness and retreated as the usd index tumbled to a 2-1/2 year low of 91.158.

Although yesterday's gain to 104.57 suggests price remains confined inside recent broad range of 103.66-104.75, subsequent retreat signals consolidation with downside bias is seen, below 104.00 would yield weakness towards 103.84 later.
Offers are tipped at 104.45/55 n more above with stops reported above 104.75. Bids are noted at 104.25/20 with stops below 104.00 n more below 103.65.

Data to be released on Wednesday :
New Zealand terms of trade, import prices export prices.
UK BRC shop price index, Australia GDP, Japan consumer confidence, Germany retail sales, Swiss CPI, Italy unemployment rate, EU producer price index, unemployment rate.
Canada labour productivity rate and U.S. MBA mortgage applications, ADP employment change.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 03 Dec 2020 05:30GMT

USD/JPY - 104.50.. The pair continues to move more in familiar territory as market focus is on other usd majors. Despite initial dip yesterday to 104.23, price climbed steadily higher on active yen selling due to risk-on sentiment, price hit session highs of 104.74 ahead of rising US yields b4 retreating on renewed broad-based weakness, price later ratcheted lower to 104.40 at NY close.

Dlr's retreat from 104.74 suggests further choppy swings below last week's high at 104.75 would continue n anticipated usd weakness signals downside bias remains for further decline to 104.00 after consolidation but this week's 103.84 low (Mon) may hold. Offers are tipped at 104.60/70 with fairly large stops abv 104.75 while bids are noted at 104.40/35 n more below with stops below 104.00, more stops are touted below 103.80.

U.S. will later release a slew of eco. data, pay attention to weekly initial jobless claims, continued jobless claims, then later Markit services PMI n IS< non-mfg ISM PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 04 Dec 2020 05:30GMT

EUR/USD - 1.2140.. The single currency is in near term holding pattern after climbing to a fresh 2-1/2 year peak of 1.2175 on continued usd's weakness, however, intra-day sharp retreat in cable triggered profit taking n dragged price lower to 1.2133 in New York afternoon.

Range trading is expected to continue until European open n as long as yesterday's 1.2102 (Europe) holds, euro's recent uptrend will be en route to 1.2200/05, however, near term loss of momentum is expected to prevent strong gain n reckon 1.2230/40 should cap upside. Bids are noted at 1.2135/30 with some stops below there, more buying interest is touted above 1.2100 with stops below there. Some offers are tipped at 1.2160/70 with stops above 1.2175.

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

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 07 Dec 2020 05:30GMT

EUR/USD - 1.2132.. Euro moves narrowly in subdued Asian morning after Friday's retreat from a fresh 2-1/2 year peak of 1.2177 (Europe) to 1.2111 in New York session as intra-day jump in US yields triggered broad-based short covering in the greenback.

Although euro's decline from 1.2177 suggests temp. top is made n range trading would continue with near term downside bias, buying the single currency is still favoured.
Order book is pretty thin on Monday, some offers are tipped at 1.2140/50 n more above with stops above 1.3180.
Some bids are noted at 1.2110/00 with stops below there.

On the data front, we have Germany's industrial output at 07:00GMT n then EU's Sentix investor confidence at 09:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 08 Dec 2020 06:30GMT

EUR/USD - 1.2109.. Trading the single currency was very tricky on Monday as price swung wildly in hectic European n New York sessions. Although price staged a recovery in Asia to 1.2140, price fell in sympathy with cable in European morning to 1.2079, the pair then rallied due to another round of usd's weakness n climbed to session highs of 1.2166 in New York morning but only to pare intra-day gain on selling in euro crosses to 1.2108 n then 1.2105 in Asia.

As yesterday's rebound from 1.2079 to 1.2166 suggests pullback from Fri's 2-1/2 year peak at 1.2177 has ended, despite intra-day retreat, as long as 1.2079 holds, upside bias for re-test of 1.2166, break would encourage for gain to 1.2177.
Bids are noted at 1.2105/00 and more below with stops touted below 1.2075.
Offers are tipped at 1.2140/50 n more above with stops reported above 1.2180.

The euo area countries will release a slew of eco. indicators (please refer to our EI page for details), pay attention to Germany's ZEW economic sentiment n EU Q3 at 10:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 09 Dec 2020 05:30GMT

USD/JPY - 104.14.. Dollar continues to move narrowly near 104.00 handle as market focus is on other usd majors. Although price met renewed buying at 103.96 at Asian open Tue n ratcheted higher to 104.20 in New York morning, lack of follow-through buying ended with price moving narrowly in subdued New York afternoon.

As last week’s erratic rise from 103.68 (Thursday) to 104.31 Mon suggests choppy trading above previous daily sup at 103.66 would continue, rebound in US yesterday may help price to head to 104.50/60 later.
Bids are noted at 104.05-95 with some stops below 103.90, more stops are reported below 103.65.
Offers are tipped at 104.30/40 with stops above there n more stops are touted above 104.75.

On the data front, U.S. will later release second-tier data (please refer to our EI page for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 10 Dec 2020 05:30GMT

USD/JPY - 104.34.. Despite dlr's intra-day fall in Europe on Wed from 104.25 to 104.06, price caught a bid in New York trading due to broad-based usd's recovery n climbed to session highs of 104.40 before retreating to 104.19 in tandem with US yields.

As the pair has regained traction in lively Asian trading due to renewed yen-selling especially vs eur and aud, upside bias is retained for further headway to 104.55/60, however, as price is expected to remain confined inside established range of 103.66-104.75, risk is seen for a strong retreat later today.
In the meantime, bids are noted at 104.20-10 with stops below 103.90 while offers are tipped at 104.40/50 and more above with stops above 104.80.

U.S. will later release a slew of eco. indicators later today, pay attention to weekly jobless claims n continued jobless claims as well as core CPI n CPI, all due out at 13:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 11 Dec 2020 05:30GMT

USD/JPY - 104.00.. Despite extending recent erratic rise from last week's low at 103.68 to an 8-day high of 104.57 in European morning Thursday, the Japanese yen caught a bid in NY session n knocked price to 104.18 in late New York trade.

Dlr easily penetrated said Thursday's low at Asian open on Fri due to another bout of yen buying n fell to 103.93. As price is likely to remain confined inside recent broad range of 103.66-104.75, near term oversold condition would keep price above lower indicated level. For now.
Offers are tipped at 104.10/20 whilst bids are noted at 103.75/70 with stops reported below 103.65.

T.G.I.F., U.S. will later release PPI, core PPI then University of Michigan consumer confidence.

 

[AceTRaderForex]

AceTraderFx Dec 14: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and View
Update Time: 14 Dec 2020 05:30GMT

USD/JPY - 104.01.. Although the pair opened marginally higher to 104.10 in New Zealand due to intra-day rise in eur/yen cross, price quickly erased initial gain n quickly retreated to 103.87 due to broad-based usd's weakness caused by initial spike up in the cable.

As dlr's decline from last week's high at 104.57 (Thursday) to 103.83 in NY Fri suggests price would continue to gyrate inside recent 103.66-104.75 broad range, near term downside bias remains n below 103.83 may head back to 103.66/68 later today. Offers are tipped at 104.10/20 with stops above 104.30 whole bids are noted at 103.90/85 with stops reported below 103.65.

No eco. data is due out from the U.S., so market may take cue from U.S. yields n intra-day swings in eur/usd.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 15 Dec 2020 05:30GMT

USD/JPY - 104.07.. Dollar maintains a firm undertone in subdued Asian trading after a roller-coaster Monday's session. Despite ratcheting lower from 104.10 (New Zealand) n then intra-day selloff in New York below prev. 103.66 sup to 1-month trough of 103.52 in New York morning, the pair swiftly erased intra-day losses n later rallied back to 104.10 as the greenback caught a bid in New York session.

As Mon's strong bounce from 103.52 suggests further volatile trading above Nov's 7-1/2 month bottom at 103.18 would continue, upside bias is seen for a retracement of recent decline towards last week's high at 104.57 (Thursday).
Bids are noted at 103.90/80 with stops below 103.65 and more below 103.50. Some offers are tipped at 104.10/20 with stops touted above 104.30.

The Fed starts its last 2-day monetary meeting for the year today.
On the eco. front, we have a release of a slew of data in New York session, please refer to our EI page for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 16 Dec 2020 05:30GMT

EUR/USD - 1.2155.. Trading the single currency was tricky in Tuesday's directionless session. Despite intra-day retreat from 1.2163 (Asia) to 1.2132 in European morning, price rose to 1.2167 but then fell briefly but sharply to 1.2122 at New York open due to intra-day cross selling esp. vs gbp but price later climbed in tandem with sterling on broad-based usd's weakness to session highs of 1.2169.

Despite euro's retreat from Monday's 2-/12 year peak of 1.2177 to 1.2122, as long as Monday's 1.2116 low holds, upside bias remains n above said res would extend recent uptrend to projected target at 1.2216.
Bids are noted at 1.2140-30 n more below with stops below 1.2100.
Offers are tipped at 1.2165/75 with fairly large stops touted above 1.2180 n more above 1.2200.

Today is PMI day in the euro area countries, please refer to our EI page for details. The Eurogroup will hold videoconference in Brussels n ECB President Lagarde and board member Panetta will also participate in the meeting.
Other ECB members will speak in various events today (please refer to our EI page for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 17 Dec 2020 05:30GMT

EUR/USD - 1.2209.. The single currency regained traction in early Asian trading on Thur after a strg retreat fm Wed's fresh 2-1/2 year peak of 1.2211 (Europe) to 1.2126 in post-FOMC NY due to profit taking.

As intra-day firmness suggests pullback has ended, re-test of 1.2211 would be forthcoming next, abv would encourage for gain to projected target at 1.2257, however, weakening of near term upward momentum is expected to prevent strg gain n reckon 1.2280/90 should cap upside today n risk has increased for a correction to take place later. Bids are noted at 1.2195/85 n more below with some stops touted below 1.2150. Offers are tipped at 1.2110/20 (profit taking) with stops abv there.

On the dat front, France will kick off with busines climate n then we have EU's HICP n core HICP. Later , we have ECB members de Cos, Schnabel n de Guindos speaking in European afternoon.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 18 Dec 2020 05:30GMT

EUR/USD - 1.2247.. Although euro maintained a firm undertone in later NY trading n Australian morning today after Thur's impressive rally abv Wed's 1.2211 top to a fresh 2-1/2 year peak of 1.2273 in NY session, intra-day strg retreat in cable has 'dragged' price lower in Asia, suggesting range trading would continue until European open.

As y'day's break of Wed's 1.2211 high (now sup) signals recent uptrend remains in progress, buying on dips is still favoured. Bids are noted at 1.2240-30 n more below with stops touted below 1.2210. On the upside, offers are tipped at 1.1.2270/75 with stops abv there.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details. Pay particular attention to Germany's Ifo data at 09:00GMT especiallt Ifo business climate, street forecast is 89.0 vs prev. reading at 90.7, if actual reading comes in better then forecast, then euro will move higher n vice versa

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 21 Dec 2020 05:30GMT

EUR/USD - 1.2192.. The single currency remains on the back foot in hectic Asian morning after opening lower in tandem with selloff in cable, price penetrated Fri's low at 1.2226 (New York) and fell to 1.2205 in Australia, despite a brief recovery, renewed weakness in cable n broad-based rebound in the greenback knocked price to 1.2180 ahead of Tokyo lunch break.

As intra-day firm break of said Fri's low to 1.2180 confirms recent uptrend has made a top at Thursday's fresh 2-1/2 year peak at 1.2273, downside bias remains for stronger correction to 1.2177 n possibly towards 1.2125 later this week. Order board is very light in Asia on Monday, some offers are tipped at 1.2220/30 with stops above 1.2240/45 whilst some bids are touted at 1.2180/75 with stops below 1.2170.

On the data front, we have Italy's trade balance n later EU's consumer confidence.