AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 22 Dec 2020 05:30GMT

EUR/USD - 1.2233.. Trading the single currency was very tricky due to Mon's wild swings. Euro opened lower n fell in tandem with cable from 1.2234 (AUS) to 1.2169 at European open, despite a brief bounce to 1.2226, the pair tumbled to session lows of 1.2131 due to safe-haven usd buying due to weakness in global stocks. However, euro quickly erased its intra-day losses n later rallied in New York trading to as high as 1.2253 as U.S. stocks pared initial losses n rebounded in New York afternoon, triggering a bout of risk-on usd selling.

Euro's impressive rise from 1.2131 to 1.2253 Monday suggests correction from Thursday's fresh 2-1/2 year peak at 1.2273 has ended, therefore buying the single currency in anticipation of resumption of Medium Term uptrend is favoured.
Order board is pretty thin in Asia after yesterday's volatile move as well as market approaches year end, some bids are noted at 1.2225/15 and more below with stops touted below 1.2200 while offers are tipped at 1.2250/60 with stops above 1.2275/80.

Eco. calendar is very thin today but pay attention to important Germany's Gfk consumer confidence index at 07:00GMT. We have ECB's Centeno n de Cos speaking in European session.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 23 Dec 2020 05:30GMT

USD/JPY - 103.54.. Dlr pares yesterday's rise in Asian trading following rebound on Tuesday from 103.29 (Asia) to 103.73 after upbeat U.S. data n range trading is expected to continue until European open.

As early rebound from last Thursday's 9-month trough of 102.88 to 103.88 on Monday suggests recent downtrend has made a temp. low, consolidation with upside bias remains.
Bids are noted at 103.40-30 with stops touted below 103.20.
Offers are tipped at 103.70/80 with stop reported above 103.95.


Data to be released on Wednesday :
Australia imports, exports, trade balance, Japan coincident index, leading economic index.
Germany import prices, France producer prices, Italy business confidence, consumer confidence.
U.S. building permits, personal income, personal spending, core PCE price index, PCE price index, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, continued jobless claims, monthly home price, University of Michigan sentiment, new home sales.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 24 Dec 2020 05:30GMT

USD/JPY - 103.56.. Dlr trades narrowly in Asia as market was focus continues to be on sterling after yesterday's cable's rally on news of a breakthrough in latest Brexit talks, such move led to broad-based usd's weakness in NY session, however, the pair was able to inch higher to 103.65 in New York afternoon due to active cross-selling in yen.

Yesterday's bounce from 103.37 to 103.65 suggests further choppy swings above last Thursday's 9-month trough at 102.288 would continue with upside bias but above 103.88/91 needed to bring stronger retracement of recent decline to 104.10/14. Bids are noted at 103.40-30 with stops touted below 103.20. Offers are tipped at 103.70/80 with stop above 103.95.

No U.S. eco. data is due out today as many traders have begun their X'mas holiday today, however, Tokyo financial market is still open on X'mas day.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 28 Dec 2020 05:30GMT

USD/JPY - 103.55.. The greenback moved narrowly in subdued Asian morning as financial markets in NZ n AU are closed n many traders are on holiday leave this week.

Although price showed muted reaction to early news Trump has finally signed the pandemic aid n spending bill, usd's broad-based retreat vs other majors, consolidation with downside bias is seen. Order book is very thin on Mon, some offers are tipped at 103.65/75 with stops abv 103.95 n some bids are noted at 103.40-30 with stops below 103.15.

U.S. markets are open later today n eco. calendar is pretty thin with Dallas Fed mfg business index the only dat due out at 15:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 29 Dec 2020 05:30GMT

EUR/USD - 1.2235.. Euro regains traction in thin year-end trading in Asia after yesterday's intra-day brief but strong retreat from 1.2250 to 1.2192 in Europe, however, price rebounded to 1.2239 due to renewed risk sentiment on broad-based rise in global stocks b4 retreating to 1.2203 in late New York session.

As yesterday's retreat from 1.2250 suggests further volatile swings below Dec's 2-1/2 year peak at 1.2273 are likely to continue as the choppy price action from there is developing into a bullish triangle pattern, as long as 1.2131 (last Monday's reaction low) holds, Medium Term uptrend would head to projected target at 1.2305.
Order board is fairly thin with offers tipped at 1.2240/50 and more above with stops above 1.2275 while some bids are noted at 1.2200/90 with stops below there.

No eco. data is due out from the euro area countries today, so traders may take cue from movement in European stocks (DAX n CAC 40) n U.S. stock futures in European morning.

 

[AceTRaderForex]

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

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

EUR/USD - 1.2287.. Euro catches a bid in thin year-end Asian trading on Wed. Despite y'day's retreat fm a fresh 2-1/2 year peak of 1.2275 to 1.2237 in NY, a bout of buying emerged shortly after Asian open n price easily penetrated 1.2275 after hitting stops abv there n hit a 33-month high of 1.2294 b4 stabilising.

Expect minor range trading ahead of European open b4 MT uptrend fm 2020 near 3-year bottom at 1.0637 (Mar) heads to projected targets at 1.2305, then 1.2337. Therefore, trading the single currency fm long side is the way to go. Order board is very thin with some bids noted at 1.2275/65 with stops reported below 1.2235. Some offer are tipped at 1.2290/00 (profit taking) n stops touted abv 1.2300. Pls note many European centres will be closed for bank holiday tom n these include Germany Switzerland and Italy.

No eco. data is due out from the euro area countries today so order flows will have an important influence on intra-day price movements.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 31 Dec 2020 05:30GMT

EUR/USD - 1.2308.. Euro regains traction in thin year-end Asian morning n re-tested Wed's 33-month high of 1.2309 due to continued usd's broad-based weakness, suggesting the Medium Term uptrend from 2020 bottom at 1.0637 (march) would head to daily target at 1.2342 after consolidation, however, loss of near term upward momentum should prevent strong gain and reckon projected res at 1.2367 and risk has increased for a much-needed correction due to thin trading condition.

For now, trading the euro from long side is the way to go.
Order board is pretty thin and today is bank holiday Germany.

Economic calendar for the euro area countries is empty, happy new year !

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 04 Jan 2021 05:30GMT

USD/JPY - 103.00... Although the greenback gained to 103.31 at Asian open on the first trading day of 2021, renewed selling there knocked the pair lower and price retreated to 102.97 in Asian morning on usd's weakness together with cross-buying of jpy and continues to remain under pressure.

Dollar's intra-day re-test of last Wednesday's low at 102.97 suggests price would head to December's 9-month bottom at 102.88 after consolidation, break there is needed to extend MT decline to 102.50/60.
Offers are now seen at 103.20/30 and more above at 103.40/50 with stops building up above there whilst initial bids are noted at 102.40/50.

U.S. will release its final reading of December's manufacturing PMI at 14:45GMT. Elsewhere, Atlanta Fed President Raphael Bostic is scheduled to speak on the economic impacts of Covid-19 before the ASSA virtual annual meeting at 15:00GMT whereas Chicago Fed President Charles Evans will talk about economic prospects and policies after Covid-19 at the same event.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 05 Jan 2021 05:30GMT

USD/JPY - 103.14... The greenback swung wildly in hectic trading on the first trading day of 2021. The pair met renewed selling at 103.31 ahead of Asian open yesterday and fell to a near 10-month trough at 102.72 in European morning after penetrating December's bottom at 102.88. However, lack of follow-through selling triggered active short-covering and price rebounded strongly to 103.25 in New York on safe-haven usd buying due to a selloff in U.S. stocks.

Although dollar's rebound from yesterday's near 10-month trough at 102.72 to 103.25 suggests recent decline has made a temporary low there and choppy trading with mild upside bias would be seen, reckon offers at 103.30/40 would limit upside and yield another fall. Below 102.97/00 would bring re-test of said bottom, break would extend to 102.40/50.

The is a slew of data to be released from U.S. today but one should pay attention to ISM manufacturing PMI at 14:45GMT. Street forecast is 56.6, down from previous reading of 57.5.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 06 Jan 2021 05:30GMT

EUR/USD - 1.2283... The single currency rebounded strongly from 1.2254 to 1.2306 in New York yesterday and then rose briefly above last Wednesday's fresh 2-1/2 year peak at 1.2309 to 1.2325 in Asia today. However, lack of follow-through selling triggered profit-taking and price retreated sharply to 1.2278 and continues to remain under pressure.

Euro's intra-day sharp retreat from a fresh 2-1/2 year peak at 1.2325 suggests Medium Term upmove has possibly made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.2242.
Offers are now seen at 1.2280/90 and more above at 1.2300/10 with stops building up above there whilst initial bids are seen at 1.2210/20.

There is a slew of data out from the eurozone today including final readings on services PMIs but one should pay particular attention to Germany's prelim CPI mm and yy at 13:00GMT.
Street forecasts are 0.6% and -0.3% vs previous readings of -0.8% and -0.3% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 07 Jan 2021 05:30GMT

EUR/USD - 1.2323... The single currency went through a roller-coaster ride on Wednesday as despite initial retreat from 1.2325 to 1.2276 in Asia, price rallied to a fresh 32-month peak at 1.2349 in Europe on usd's weakness together with cross-buying of euro especially vs sterling. Lack of follow-through buying triggered profit-taking and price tumbled to 1.2267 in New York morning before rebounding strongly to 1.2345 in Asia today.

Despite yesterday's selloff from 1.2349 to 1.2267, subsequent rebound to 1.2345 today suggests the pullback has ended and Medium Term upmove would resume after consolidation and head to 1.2368/70, then 1.2388.
Bids are now seen at 1.2310/20 and more below at 1.2290/00 with stops building up below there whilst initial offers are noted at 1.2390/00.

There is a slew of economic data due from the eurozone today and one should pay particular attention to EU retail sales mm and yy at 09:00GMT. Street forecasts are -3.4% and 0.8% vs previous readings of 1.5% and 4.3% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 08 Jan 2021 05:30GMT

EUR/USD - 1.2260... The single currency met renewed selling at 1.2345 in Asia yesterday and tumbled to 1.2246 in European morning on usd's broad-based strength before staging a rebound to 1.2282 in New York morning only to fall again to 1.2236 in Asian morning today. However, lack of follow-through buying triggered short-covering and price recovered to 1.2264.

Euro's intra-day brief break of yesterday's low at 1.2246 to 1.2236 suggests corrective decline from Wednesday's 2-1/2 year peak at 1.2349 has once again resumed and current rebound would yield range trading before prospect of another fall. Offers are now raised to 1.2280/90 with stops building up above there whilst initial bids are noted at 1.2190/00.

There is a slew of data to be released from eurozone today and one should pay particular attention to release of EU unemployment rate at 09:00GMT. Street forecast is 8.5% vs previous reading of 8.4%.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 11 Jan 2021 05:30GMT

EUR/USD - 1.2176.. The euro regained traction in NY afternoon Fri after intra-day wild swings following release of key U.S. jobs report. Price penetrated Fri's 1.2193 low ahead of Asian open on renewed usd's strength n hit an intra-day low of 1.2168 in Asia.

As euro's break of 1.2210 sup on Fri confirms MT uptrend has made a temp. top at Wed's 33-month peak at 1.2349, downside bias remains for a stronger retracement to 1.2153, then next chart obj. at 1.2131, therefore, selling euro on recovery is recommended.
Order board is pretty empty as market in Japan is closed for holiday. Some offers are tipped at 1.2210/20 and more above while some bids are noted at 1.2165/55 with stops touted below 1.2130.

The only data due out from the euro area countries is EU's Sentix investors' confidence index at 09:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 12 Jan 2021 05:30GMT

USD/JPY - 104.28... The greenback traded with a firm undertone in Asia yesterday and gained to 104.21 before rising to session highs at 104.39 in New York morning on usd's broad-based strength together with a rise in U.S. yields. The pair then retreated to 104.08 in New York afternoon on profit-taking before rebounding again to 104.31 in Tokyo morning today.

Dollar's retreat after yesterday's resumption of upmove from last Wednesday's 9-1/2 month bottom at 102.60 would yield range trading before said move heads to 104.55/60 after consolidation.
Bids are now seen at 104.10/20 and more below at 103.80/90 with stops building up below there whilst initial offers are noted at 104.70/80.

Although there is no major economic data to be released from U.S. today, there are a slew of Fed speakers scheduled to speak today and one should pay particular attention to Kansas City Fed President Esther George's remarks on economic and monetary policy outlook at 18:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 13 Jan 2021 05:30GMT

USD/JPY - 103.56... The greenback traded sideways inside a narrow range in Asia and Europe yesterday as focus remained on other dollar majors. Price edged up to 104.33 in New York before tumbling to 103.73 near New York close on dollar's broad-based weakness. The pair then met renewed selling at 103.80 in Australia today and fell to 103.53 in Tokyo morning on continued usd weakness together with cross-buying in jpy.

Dollar's intra-day break below Tuesday's 103.73 low signals upmove from January's 9-1/2 month bottom at 102.60 has ended at 104.39 on Monday and consolidation with downside bias remains for weakness to 103.28, then 103.05/10.
Offers are now lowered to 103.70/80 and more above at 103.90/00 with stops building up above there whilst initial bids are noted at 102.90/00.

There is a slew of data to be released from U.S. today but pay particular attention to CPI mm and yy at 13:30GMT.
Street forecasts are 0.4% and 1.3% vs previous readings of 0.2% and 1.2% respectively. Elsewhere, St. Louis Fed President James Bullard will speak on the U.S. economy and monetary policy at Reuters Next Virtual Forum at 14:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 14 Jan 2021 05:30GMT

USD/JPY - 104.07... Despite falling to 103.53 in Asia yesterday, price rallied to session highs at 103.99 in Europe due partly to rise in U.S. Treasury yields before retreating to 103.76 in New York. The pair then jumped in Asian morning today and penetrated Wednesday's high to 104.19 on usd's broad-based strength due to reports that Biden's aid plan would be around 2 trillion usd (see report below).

Dollar's intra-day jump to 104.19 suggests pullback from Monday's near 4-week peak at 104.39 has ended at 103.53 yesterday and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove to 104.57/60. Bids are now seen at 103.90/00 and more below at 103.70/80 with stops building up below there whilst initial offers are noted at 104.70/80.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecasts is 780k, down from previous reading of 787k. Elsewhere, Federal Reserve Chairman Jerome Powell will participate at a virtual event at 17:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 15 Jan 2021 05:30GMT

USD/JPY - 103.77... The greenback swung wildly in hectic trading yesterday as despite initial jump to 104.19 in Asia, price retreated to 103.96 before staging another rebound to 104.15 at New York open. The pair fell on broad-based usd's weakness and tumbled to 103.65 near New York midday n briefly hit session lows of 103.57 after Fed Chairman Powell said the Fed would not raise rates anytime soon but only to rebound on short covering n later recovered to 103.85 ahead of Asian open today.

Dollar's sharp retreat from 104.19 to 103.57 yesterday suggests choppy trading below Monday's 4-week peak at 104.39 would continue with downside bias and below Wednesday's reaction low at 103.53 would bring stronger retracement to 103.20/25. Offers are now seen at 103.80/90 with stops building up above there whilst initial bids are noted at 102.90/00.

There is a slew of U.S. data to be released today but pay particular attention to retail sales mm and retail sales ex-autos at 13:30GMT. Street forecasts are 0.0% and -0.1% vs forecasts of -1.1% and -0.9% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 19 Jan 2021 05:30GMT

USD/JPY - 103.71.. Despite extending Friday's intra-day gain in New York session to 103.93 at Asian open due to a bout of broad-based usd's buying following WSJ report which came out in New Zealand morning that incoming U.S. Treasury Secretary Janet Yellen (former Fed Chief) will reaffirm U.S. commitment to maintain a market-driven usd policy and not a weaker greenback to boost trade, the pair quickly pared initial gain on renewed cross-buying of yen n retreated to 103.70.

Last week's decline from Monday's 4-week peak at 103.53 (Wednesday) n subsequent daily swings suggests further choppy sideways swings are in store n as long as 104.19 (Wed's high) holds, downside bias remains.
Offers are tipped at 103.90/00 with stops touted above 104.20 while some bids are noted at 103.70/60 with stops reported below 103.50.

No U.S. ecoi. data is due out today as most U.S. financial markets are closed for Martin Luther King Jr. Day holiday.

 

[AceTRaderForex]

AceTraderFx Jan 19: Intra-Day News and Views & data to be released today –EUR/USD

Intra-Day Market Moving News and View
Update Time: 19 Jan 2021 05:30GMT

EUR/USD - 1.2093.. Despite continuing its recent losing streak yesterday n hitting a 6-week trough of 1.2055 in European morning, euro caught a bid in active Asian trading today due to broad-based usd's weakness on return of risk appetite n climbed back to 1.2097.

Although intra-day rebound suggests temporary low has been made n sideways swings are in store in European morning, as long as 1.2112 (Thursday's low, now res) holds, prospect of one more fall is still envisaged, loss of near term downward momentum should keep price well above 1.2011 (prev. 2020 peak in September, now sup) today.
Offers are tipped at 1.2100/10 with stops above 1.2120/30, on the downside, bias are noted at 1.2070/75 n more below with stops below 1.2050.

The euro area countries will release a slew of eco. data in European morning, please refer to our EI page for details. Also there is a Euro Finance Minsters' meeting m ECB VP de Guindos will participate in this meeting.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and View
Update Time: 20 Jan 2021 05:30GMT

EUR/USD - 1.2143.. The single currency remained on the front foot in Tuesday's session. Price extended early climb from Monday's 6-week low at 1.2055 to 1.2098 initially in Asia yesterday, despite intra-day pullback to 1.2086 in European morning, price regained traction on renewed usd's weakness n later rallied to 1.2144 in New York morning before retreating to 1.2116 on profit taking after incoming U.S. Treasury Yellen reiterated U.S. will not weaken usd for trade advantage.

Although intra-day brief break of 1.2144 confirms euro's recent decline has made a temp. low, near term o/bot condition is likely to limit gain to 1.2178 n yield retreat later today.
Bids are noted at 1.2125/15 with some stops touted below 1.2100 while offers are tipped at 1.2165/75 with stops reported above 1.2180.

On the data front, we have Germany's PPI at 07:00GMT and then EU's HICP n core HICP at 10:00GMT.