AceTraderFx: Intra-Day Market Moving News and Views

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

Intra-Day Market Moving News and Views
Update Time: 24 Mar 2021 05:30GMT

USD/JPY - 108.49.. Despite usd's strength vs other majors due to risk-off sentiment on Tue n today, the pair remains on the back foot as yen buying is perceived by traders as safe-haven play, leading to broad-based yen buying vs eur, gbp, chf, aud n nzd etc.

Dlr's rebound from Tuesday's 11-day low at 108.41 to 108.75 (Europe) suggests recent erratic fall from March's 109.36 peak has possibly made a low, as long as said sup holds, consolidation with upside bias remains, a break of said sup may risk stronger retracement to 108.35, possibly 108.00/10.
Bids are noted at 108.50-40 with stops reported below 108.30 while offers are tipped at 108.75/85 and more above with stops above 109.05.

U.S. will release a slew of eco. data, please refer to our EI page for details and pay attention to Markit mfg n services PMIs. Market will also follow testimonies by Fed Chair's Powell n U.S. Treasury Secretary Yellen.
Later today, Fed's Williams n Fed's Daily are scheduled to speak in New York afternoon

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Mar 2021 05:30GMT

USD/JPY - 108.94.. Despite dlr's retreat from Wednesday's high at 108.95 to 108.67 in New York session in tandem with intra-day pullback in U.S. yields, the pair caught a bid at Tokyo open as news of N. Korea's firing of 2 ballistic missiles in Australian morning time triggered broad-based yen selling.

Intra-day brief break above 108.95 to 108.98 suggests correction from March's 9-month peak at 109.36 has possibly ended n consolidation with upside bias is expected.
Bids are noted at 108.75/65 and more below with stops reported below 108.35 while offers are tipped at 109.00/10 with stops above 109.15 and more stops are building up above 109.40.

U.S. will release a slew of eco. data, please refer to our EI page for details n pay attention to release of weekly jobless claims and continued jobless claims to gauge the latest U.S. employment situation.
We have a number of Fed officials scheduled to speak in New York morning as well as in the afternoon session.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Mar 2021 05:30GMT

USD/JPY - 109.23.. Dlr caught a bid at Tokyo open on Fri n climbed from 109.14 to 109.31, just shy of last Mon's 9-month peak of 109.36. Intra-day broad-based yen selling vs eur, gbp and aud etc suggests a break of said Mar's high would be seen, however, reckon daily res at 109.84 (2020 Jun high) should cap upside.

Therefore, trading from long side in anticipation of a resumption of Medium Term rise is recommended. Bids are noted at 109.15/10 and more below with stops reported below 108.95. Offers are tipped at 109.30/35 with stops above 109.40.

T.G.I.F., U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to U.S. core PCE n PCE (these are Fed's favoured inflation gauge) n then University of Michigan consumer confidence.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 Mar 2021 05:30GMT

EUR/USD - 1.1790.. Although euro moves broadly sideways in relatively subdued Asian trading, as early rebound fm last Thursday's 4-month bottom at 1.1762 to 1.1804 (NY) on Fri suggests recent downtrend has made a temp. low, consolidation with mild upside bias remains for a stronger retracement to 1.1815/25 later today b4 prospect of retreat.

Therefore, intra-day traders can buy euro on dips for a corrective rise to said upside target but res at 1.1850 should hold from here. Order board is pretty thin on Mon with some bids at 1.1780/70 with stop reported below 1.1760 while offers are tipped at 1.1800/10 with stops abv there.

Europe had moved their clocks faster by one hour to summer time on Sun. No eco. data is due out fm the euro area countries. We have ECB board member de Cos schedule to speak at a business forum at 08:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 30 Mar 2021 05:30GMT

EUR/USD - 1.1770.. Euro remains on the back foot in subdued Asian trading after Monday's marginal weakness below last Thursday's 1.1762 low to a fresh 4-month bottom of 1.1761 in New York morning.

The lack of a short covering rebound signals the path of least resistance is to the downside n market sentiment remains bearish for resumption of recent downtrend in European session, so trading from the short side is the way to go but downside may be ltd today due to loss of downward momentum.
Offers are tipped at 1.1780/90 with stop reported above 1.1805 while bids (profit taking) are touted at 1.1760/50 with some stops touted below there.

We have data dump from the euro area countries, please refer to our Economic Indicator page for details. pay attention to EU eco. sentiment, consumer confidence as well as business climate for March at 09:00GMT as euro will come under renewed bashing if actual readings are weaker than forecast. Also we have some ECB officials scheduled to speak later today.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 31 Mar 2021 05:30GMT

USD/JPY - 110.62.. The greenback regained traction at Tokyo open on broad-based yen selling after pullback from Tuesday's 1-year high of 110.42 to 110.19 in New York morning in tandem with U.S. yields (benchmark 10-year rallied to a 14-month high of 1.776%), suggesting recent upmove would head to 110.90/00 after consolidation, however, o/bot condition is likely to cap price below projected re at 111.15.

Therefore, trading dlr from long side is recommended but profit should be taken on subsequent rise.
Bids have been raised to 110.30/20 with stops below 110.15 and more below 110.00.
Offers are tipped at 110.70/80 and more above with stops above 111.00.

U.S. will release a slew of eco. data, please refer to our EI page for details n pay attention to U.S. ADY private payrolls n Chicago PMI. We also have Atlanta Fed's Bostic and Treasury Sec Yellen scheduled to speak too.
Last but not the least, U.S. President Biden will unveil his massive 2 US trillion infrastructure plans (spread over a span of 8 years) when he visits Pittsburgh, market has been buying usd lately on the back of this in anticipation of a U.S. economic recovery.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 01 Apr 2021 05:30GMT

USD/JPY - 110.66.. The greenback is in holding pattern after yesterday's resumption of recent upmove to a fresh 1-year peak of 110.96, however, profit taking later knocked price to 110.42 before rebounding in tandem with U.S. yields.

Although intra-day gain to 110.82 in Asia suggests daily upside bias remains for further headway to projected target at 111.15, loss of momentum should cap price at 111.30/40. Expect range trading to continue ahead of European open with bids noted at 110.65/45 are with stops below 110.40 while offers are tipped at 110.85/95 with stops reported above 111.00.

U.S. Preisent is scheduled to make another speech around 03:00GMT. On the eco. data front, U.S. will release a slew of data, please refer to our EI section for details and pay attention to weekly jobless claims and continued jobless claims, then later Markit mfg PMI n ISM mfg PMI. Philly Fed President Harker will speak at 17:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Apr 2021 05:30GMT

EUR/USD - 1.1868... Although euro swung broadly sideways initially yesterday after retreat from Asian 1.1821 high to 1.1796 in Europe, price extended recent erratic rise on renewed usd's weakness and hit a near 2-week high of 1.1877 in New York before easing.

Despite euro's resumption of decline from January's 2-1/2 year peak at 1.2349 to a 4-1/2 month trough of 1.1705 last Wednesday, subsequent rally to 1.1877 yesterday suggests temporary low is made and stronger retracement to 1.1925/30 would be seen after consolidation, however, overbought condition should cap price below 1.1947 today, yield retreat. Bids are noted at 1.1855-50 with stops below 1.1820-15 while offers are tipped at 1.1895/00 with more above and stops above 1.1940/50.

Today is PMI day, street forecasts for Markit services PMI for France, Germany and EU are in-line with previous readings of 47.8, 50.8, and 48.8 respectively. If we see a reading above 50.0 mark, there could be another round of buying in euro.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Apr 2021 05:30GMT

EUR/USD - 1.1870... The single currency moved narrowly in Asia yesterday following Tuesday's rally to 1.1877, price retreated to 1.1865 at European open before rising on renewed euro buying versus yen and sterling. The pair climbed to 1.1914 in New York but only to fall to 1.1862 after release of Fed minutes, then 1.1861 in Asian morning today.

Although euro's retreat after resumption of upmove from March's 4-1/2 month trough at 1.1705 to 1.1914 yesterday suggests minor temporary top is made and choppy sideways swings is in store before prospect of another rise. However, loss of upward momentum should cap price below 1.1947 and yield retreat.
Bids are noted at 1.1855-50 with stops below there while offers are tipped at 1.1900/10 with more above and stops above 1.1945/50.

On the data front, Germany's industrial orders is scheduled to release at 06:00 GMT, followed by France current account, trade balance, imports, exports at 06:45, then EU producer price index at 09:00 GMT.
We also have ECB monetary policy meeting account at 11:30 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Apr 2021 05:30GMT

USD/JPY - 109.31.. The greenback pares Thursday's losses in relatively subdued Asian trading on Friday after yesterday's selloff from 109.90 to a near 2-week trough of 109.01 in New York morning due to falling US yields (benchmark 10-year hit 2-week low of 1.617%, moving farther away from its March's 14-month peak of 1.777%).

As Thursday's broad-based usd's weakness suggests Medium Term rise from January's 102.60 bottom has made a temp. top at last Wednesday's fresh 1-year peak at 110.96, stronger retracement towards 108.60 may be seen after consolidation but daily sup at 108.41 should remain intact n yield strong rebound later today or early next week.
Offers are tipped at 109.35/45 with stops above 109.60 while bids are touted at 109.10/00 with stops reported below there.

T.G.I.F., the U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to PPI n core PPI at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Apr 2021 05:30GMT

EUR/USD - 1.1891... The single currency moves sideways in Asia after last week's impressive rally from 1.1739 (Monday) to as high as 1.1927 on Thursday due to retreat in U.S. Treasury yields which triggered short-covering and then weakened to 1.1868 on Friday before rebounding to 1.1910.

Euro's resumption of upmove from March's 4-1/2 month trough at 1.1705 to 1.1927 suggests medium term decline from January's 2-1/2 year peak at 1.2349 has made a temporary bottom and as long as 1.1861 (Thursday's low) holds, consolidation with upside is seen for gain to 1.1947, however, loss of upward momentum is expected to cap price below 1.1960/70 and yield retreat.
Bids are noted at 1.1885-80 with stops below 1.1860 while offers are tipped at 1.1940/45 with more above and stops above 1.1990/00.

On the calendar front, EU will release retail sales at 09:00 GMT, with street forecast at 1.5% MM and -5.4% YY versus prior readings of -5.9% and -6.4% respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 13 Apr 2021 05:30GMT

USD/JPY - 109.58.. Despite Mon's decline from 109.77 (New Zealand) to 109.25 in Europe due to a bout of yen buying on retreat in US yields, the pair recovered to 109.45 in NY afternoon n price climbed again at Tokyo open at 109.61 in tandem with rebound in US yields.

Expect consolidation with upside bias n as long as Monday's 109.25 low holds, gain to 109.77 is likely but break of 109.95 (Friday high) needed to signal correction from March's 1-year peak at 110.96 has possibly ended n yield further headway to 110.45/55 later this week.
Bids are noted at 109.45-35 with stop below 109.25 while offers are tipped at 109.70/75 with stop above 109.80, more stops are touted above 110.00.

BOJ Gov. is currently speaking in the parliament. Later today, market's focus is on U.S. CPI data, especially the Mar Y/Y data, street forecast is looking for a big jump from prev. reading of 1.7% to 2.5%, if actual comes in a per estimate or slightly beats it, then usd will rally in tandem with US yields (benchmark 10-year is currently at 1.6817, just below Mar's 14-month peak of 1.776%).
We have a total number of 7 Fed officials scheduled to speak today, please refer to our EI page for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Apr 2021 05:30GMT

USD/JPY - 108.81.. The pair remains on the back foot in hectic Tokyo trading, intra-day decline accelerated when price early penetrated last week's 109.01 low ahead of Tokyo open due to continued usd's weakness on falling US yields (benchmark 10-year hit 2-week low of 1.611%).

Despite intra-day resumption of recent decline from March's 1-year peak at 110.96, as this move is viewed as a correction of Medium Term rise from 2021 bottom at 102.60, reckon daily sup area at 108.35/41 would contain weakness n yield rebound later today or tom, a daily close above 109.01 would bode well for price to head back to 109.75/77.
Offers are tipped at 109.00/05 with stops tourted above 109.25 while bids are noted at 108.75/65 with stops below 108.35.

BOJ Gov. Kuroda will speak at a financial forum at 06:15GMT. After yesterday's much-anticipated release of US CPI, we have a slew of eco. data later today, please refer to our EI page for details. Market may pay attention to Fed's beige book due out at 18:00GMT.
We also have a no. of Fed officials scheduled to speak in New York session n traders will pay attention to comments from Fed's J. Powell when he speaks at 16:00GMT at an economic forum at 16:00GMT and market is interested to hear his comments on recent surge in US inflation readings.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Apr 2021 05:30GMT

EUR/USD - 1.1976.. Despite inching marginally higher after Wednesday's near 4-week high of 1.1987 (New York) to 1.1989, profit taking below daily res at 1.1990 pushed euro lower in otherwise relatively subdued Asian morning on Thursday.

As recent corrective upmove from Mar's 4-1/2 month bottom at 1.1705 is losing momentum, strong gain above psychological 1.2000 handle is unlikely to be seen and euro is ripe for a correction of said upmove esp. if U.S. retail sales beat market forecast. For now, offers are tipped at 1.1990/00 with stops reported above there while bids are noted at 1.1955/50 with stops below 1.1940.

On the data front, the euro area countries will release a slew of inflation data, please refer to our Economic Indicators Page for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Apr 2021 05:20GMT

EUR/USD - 1.1958.. Euro remains on the back foot in Asian trading after yesterday's resumption of recent upmove to a 5-week peak of 1.1993 in European morning, however, subsequent upbeat US retail sales briefly knocked price to 1.1957 in New York and intra-day break of said New York low to 1.1953 suggests temp. top is made.

As long as 1.1948/52 sup holds, one more rise to 1.2010/15 can't be ruled out before decline due to loss of upward momentum.
For now, bids are noted at 1.1955/50 with stops tourted below 1.1945 n more below 1.1925.
On the upside, offers are tipped at 1.1980/90 with stops above 1.2000.

The euro area countries will release a slew of eco. data (please refer to our EI page for details).
There is Eurogroup meeting later today and Euro FinMins will meet at 13:00GMT, so keep an eye out on comments by officials as ECB President Lagarde and ECB member Panetta will participate in the Eurogroup meeting while ECB Vice President de Guindos will particiapte in the Euro FinMin meeting.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 19 Apr 2021 05:30GMT

EUR/USD - 1.1963.. Despite rising one tick above Thursday's 1.1993 high to a fresh 5-week peak of 1.1994 in Europe on Friday, the euro retreated to 1.1973 in New York on profit taking n price further pared recent gains n inched lower to 1.1962 in early Asian morning Monday, suggesting range trading is in store.

This week price action is important to determine eur's next 150-200 points move. As long as 1.2027 (50% r of 1.2349-1.1705) holds, Medium Term bearishness remains, a daily close below 1.1927 (prev. res, now sup) would signal corrective rise from 1.1705 is over, perhaps Thursday's ECB monetary policy announcement n post-ECB presser may well be the key driver.
Order book is pretty thin on Monday with some bids noted at 1.1965/55 with stops touted below 1.1950 while offers are tipped at 1.1990/00 with stops above there.

On the data front, we have EU's construction output n current account. The German Bundesbank will release its monthly report sometime in Euroean morning.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Apr 2021 05:30GMT

EUR/USD - 1.2043.. Yesterday's initial fall from 1.1982 (New Zealand) n then a brief break of Friday's 1.1951 low to 1.1943 in Asia proved to be a red herring to euro bears (ourselves included) as the single currency quickly pared intra-day losses n then caught a large bid in early European trading, rallying to a 6-week peak of 1.2048 before pullback back to 1.2016 in New York morning on profit taking.

Intra-day bounce to 1.2047 in Asia suggests recent upmove from March's 4-1/2 month trough at 1.1705 would head to 1.2080/90, however, loss of near term upward momentum is expected to cap price below March's high at 1.2112 n risk has increased for a strong retracement of said upmove to take place later this week.
Bids are noted at 1.2035/25 with stops below 1.2015 while offers are tipped at 1.2045/55 with some stops touted above there.

On the data front, the only eco. data is Germany's PPI. ECB Board member de Cos will deliver an opening speech on Banking Supervision at 12:50GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Apr 2021 05:30GMT

EUR/USD - 1.2040.. Euro moves relatively sideways in subdued Asian morning after Tue's roller-coaster rise. Despite meeting renewed buying at 1.2034 (AUS) yesterday n climbing to a fresh 6-week peak of 1.2079 in European morning, profit taking quickly emerged n later pressured price to 1.2023 in New York session.

Although euro's retreat from 1.2079 to 1.2023 signals recent strong upmove has made a temp. top, intra-day yen-led usd's weakness signals consolidation with upside bias remains for re-test of 1.2079, loss of upward momentum should cap price well below Mar's peak at 1.2112 n yield correction ahead of Thursday's ECB monetary policy announcement.
Bids are noted at 1.2025-15 with stops below 1.2000 while offers are tipped at 1.2055/65 n more above with stops above 1.2080.

No eco. data is due out from the euro-area countries so traders will take cue from intra-day movements in US yields n US stock futures.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 22 Apr 2021 05:30GMT

USD/JPY - 108.00... Although dollar extended its recent losing streak and briefly dropped to a fresh 6-week low of 107.88 at Tokyo open on Wednesday on risk-off trade, price rebounded to 108.28 in European morning on short-covering but only to weaken in tandem with U.S. Treasury yields to 107.98 in New York, then ratcheted lower to 107.96 at Asian open today.

As usd has fallen after yesterday's rebound from 107.88 to 108.28, suggesting decline from March's 1-year peak at 110.96 to retrace medium term upmove from January's 9-1/2 month trough of 102.60 would resume after consolidation, however, loss of downward momentum should prevent steep drop below 107.77 (38.2% r) and yield a much-needed correction. Some offers are tipped at 108.20/25 with stops above 108.50/55 while bids are noted at 107.80-75 with stops below 108.60.

On the data front, U.S. will release weekly jobless claims and continued jobless claims at 12:30 GMT, with street forecasts at 617k and 3.667M versus prior readings of 576k and 3.731M respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Apr 2021 05:30GMT

USD/JPY - 107.93.. The pair remains on the back foot in Tokyo morning as official announcement in Australian morning by Japanese govt. of the new state of emergency in Tokyo and 3 other prefectures due to Covid-19 triggered safe-haven yen buying, price briefly penetrated Thursday's 107.82 low to a fresh 6-week trough of 107.81 before staging a minor recovery.

Despite intra-day resumption of recent decline, loss of downward momentum should keep dlr above 107.55/60 n risk remains to the upside for a long-overdue retracement.
Bids are noted at 107.85/75 with some stops touted below there while offers ate tipped at 108.10/20 with stop above 108.30.

T.G.I.F., BoJ Gov. Kuroda will speak in the parliament starting from 02:25GMT. U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to Markit mfg n services PMIs at 13:45GMT.