AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Jun 23: Intra-Day News and Views & data to be released today -EUR/USD

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

EUR/USD - 1.1926.. Despite intra-day rally from European low of 1.1882 yesterday n subsequent firm break of 1.1921/25 res to 1.1952 due to broad-based usd's weakness after dovish testimony by Fed's J. Powell, the single currency pared Tuesday's gain n retreated in Asian morning to 1.1191.

As said yesterday's rise signals recent decline has made a temp. low at Fri's 2-1/2 month trough of 1.1848, consolidation with mild upside bias remains for stronger retrace. to 1.1980/85 but loss of upward momentum should cap price below res at 1.2009 n yield decline later today.
Bids are noted at 1.1920/10 with stops below 1.1900 n more below 1.1880 while offers are tipped at 1.1950/55 with some stops touted above there.

Today is PMI day in the euro area countries, please refer to our EI page for details. Pay attention to Germany n EU's Markit mfg n services PMIs, if actual readings come in stronger than street forecasts, euro will move marginally higher, if they are weaker than forecasts, then expect renewed selling to emerge. ECB Vice President de Guindos will speak at an economic forum at 07:30GMT n ECB President Lagarde will deliver a pre-recorded video message in an event at 16:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1924.. Despite extending erratic rise from last Fri's 9-week trough at 1.1848 to 1.1969 in New York morning yesterday on continued usd's weakness after soft U.S. data, euro erased intra-day rise from 1.1911 (Europe) following hawkish comments by Fed officials (see earlier update) and fell to 1.1920 in late New York.

As euro's retreat from 1.1969 suggests correction from 1.1848 has possibly ended, consolidation with downside bias remains, below 1.1911 would add credence to this view n yield weakness to 1.1882 but reckon 1.1848 would hold today.
Offers are tipped at 1.1940/50 with stop above 1.1970 while some bids are noted at 1.1915/10 with stops below 1.1900.

On the data front, pay attention to release of key German Ifo business climate and current expectations for June at 08:00GMT, market is expecting upbeat readings which may briefly lift the euro. We also have ECB's Panetta n Schnabel scheduled to speak (refer to EI page for details).

 

[AceTRaderForex]

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

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

EUR/USD - 1.1838.. Euro swung broadly sideways in directionless Thursday's session. Despite initial dip to 1.1919, price ratcheted higher in delayed reaction to upbeat German Ifo data to 1.1956 in New York but only to retreat to 1.1921.

Intra-day bounce to 1.1945 in Asia on usd's broad-based pullback suggests further range trading would continue in European morning as traders await release of a slew of U.S. data, in particular, y/y core PCE. As long as this week's high at 1.1969 (Wednesday) holds, consolidation with downside bias remains, below 1.1911 signals correction from last Friday's 9-week trough at 1.1848 has ended n heads back towards 1.1848 whilst above 1.1969 would risk stronger retracement of recent decline to 1.1985/90 but reckon res at 1.2006 should cap upside.
Offers are tipped at 1.1955/65 with stops above 1.1970 while bids are noted at 1.1925/15 with stops below 1.1900.

The euro area countries will release a slew if eco. data, please refer to our EI page for details n pay attention to German Gfk consumer sentiment. There is a European Council meeting today n ECB President Lagarde will participate in the Euro Summit. ECB member de Cos will speak at a conference at 10:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 28 Jun 2021 05:30GMT

USD/JPY - 110.68.. Although Friday's rebound in New York session from 110.49 to 110.87 in tandem with US yields suggests early pullback from Thursday's near 15-month peak at 111.11 has possibly ended, intra-day retreat die to broad-based buying in yen suggests further range trading may continue ahead of European open before prospect of another rise later today.

As the greenback was able to strength broadly on the back of rising yields (benchmark 10-year rose from 1.4783% to 1.5445%, circa 1.5292%), trading from long side in the way to go. Some bids are noted at 110.65/60 with stops below 110.45 while offers are tipped at 110.90/00 with stops above there.

U.S. eco. calendar is pretty thin with Dallas Fed mfg index being the only data due out, however, pay attention to further fed speak by a number of Fed officials in New York session (please refer to our EI page for details).

 

[AceTRaderForex]

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

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

EUR/USD - 1.1914.. Euro trades narrowly but with a soft bias in Asia after Monday's roller-coaster ride. Despite staging a rebound from 1.1921 (Asia) to 1.1944 in Europe, price fell to session lows of 1.1903 before staging a rebound as intra-day decline in US yields triggered short covering.

As the decline from 1.1975 (Fri) to 1.1903 suggests correction from June's 2-1/2 month trough at 1.1848 has possibly ended, downside bias remains for weakness to 1.1882 where a break there would bring re-test of 1.1848.
Offers are tipped at 1.1935/40 with stops above 1.1950 while bids are noted at 1.1905/00 with stops below there n more stops are touted below 1.1880.

On the data front, the euro area countries will release a slew of data, please refer to our EI page for details, pay attention to EU's business climate n economic sentiment at 09:00GMT. ECB President Lagarde will speak at the Brussels Economic Forum 2021 at 10:00GMT n later 13:40 GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1905.. Euro pares Tuesday's decline n inches higher in tandem with cable in relatively quiet Asian morning. Although price remained on the defensive in Asia yesterday n fell in European morning due to renewed usd's strength, price later tumbled to 1.1879 in NY morning but selloff in U.S. yields lifted price to 1.1911.

As decline from 1.1975 (Friday) to 1.1879 yesterday signals correction from June's 1.1848 bottom has ended, downside bias remains for re-test of said sup, however, loss of momentum would keep price above 1.1804.
Offers are tipped at 1.1815/20 with stops above 1.1945 while bids are noted at 1.1885/80 with stops 1.1875 n more below 1.1845.

On the data front, the euro area countries will release a raft of eco. data, please refer to our page for details. ECB member Centeno will speak at a parliamentary committee in Portugal at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 July 2021 05:30GMT

EUR/USD - 1.1843.. The single currency remains on the back foot in subdued Asian morning after price fell again in NY morning fm 1.1884 to 1.1841 following intra-day short-covering rebound fm European 11-week trough of 1.1838.

Although traders are reluctant to push euro lower ahead of European open, euro's recent decline should resume ahead of release of key U.S. jobs data which are expected to be upbeat, so European traders will test euro's downside side b4 NY market opens. Offers are tipped at 1.1860/70 with stops abv 1.1885/90 while some bids (profit taking) are touted at 1.1840-30 with stops below there.

On the data front, we have France's budge balance n then EU's producer prices. A number of ECB officials are scheduled to speak in European session, pls refer to our EI page for details. ECB President Lagarde will speak at ab economic forum at 12:30GMT.

 

[AceTRaderForex]

AceTraderFx July 05: Intra-Day News and Views & data to be released today -EUR/USD

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

EUR/USD - 1.1853.. Euro trades narrowly in subdued Asian morning with a soft bias after staging a strong bounce from Fri's 2-1/2 month trough of 1.1808 in post-NFP New York morning to 1.1874 on short covering.

As said rebound from 1.1808 signals recent decline has made a temp. low, range trading with mild upside bias remains for a minor correction towards 1.1884 b4 prospect of a retreat.
Order board is fairly thin on Mon with offers tipped at 1.1870/75 with stops above 1.1885 while some bids are noted at 1.1845/35 n more below with stop below 1.1800.

Today is PMI day in the euro area countries, please refer to our EI page for details, pay attention to services PMI for Germany n EU n then EU's sentix data.
A number of ECB officials are scheduled to speak, ECB President Lagarde will appear in a panel discussion at an event. As U.S. market is closed for market holiday, trading will quieten down in European afternoon.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 July 2021 05:30GMT

USD/JPY - 110.85.. Despite staging a short-covering rebound in European morning from 110.80 on Monday to 110.99 in holiday-thinned N. American afternoon, the pair came under renewed selling pressure due to yen-buying on falling U.S. yields n hit 110.79 in Asian morning.

As dlr's decline from Friday's 15-month peak at 111.65 signals recent upmove has made a temp. top, subsequent weakness suggests modest correction to 110.65/70 would be seen, however, loss of downward momentum is likely to keep price above sup at 110.43 and bring rebound later today or tomorrow.
Offers are tipped at 109.95/00 with stops above there while bids are noted at 109.80-75 with stops touted below there.

U.S. market will reopen after Monday's Indespendence Day holiday, on the data front, we have Markit services PMI at 13:45GMT n then ISM non-mfg PMI at 14:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 110.50.. Dlr remains on the back foot in Tokyo morning and briefly penetrated Tuesday's 110.53 low to a near 1-week trough of 110.40 due to renewed cross buying of yen following yesterday's selloff in U.S. yields (benchmark 10-year hit a 4-month low of 1.348%, circa 1.3565%).

Although decline from last Friday's 15-month peak at 111.65 to as low as 110.40 today suggests recent uptrend has made a temp. top, loss of near term downward momentum would keep price above 110.22 and bring rebound ahead of release of FOMC minutes.
Offers are tipped at 110.70/80 with stops above 111.00 while bids are noted at 110.40-35 with some stops below 110.20.

U.S. will release some second-tier eco. data ahead of June's FOMC minutes at 18:00GMT, if minutes of last FOMC meeting sound hawkish, then usd will rise.
Atlantic Fed President (voter) will speak at 19:30GMT, he may comment on the FOMC minutes.

 

[AceTRaderForex]

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

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

USD/JPY - 110.57.. Dlr remains on the back foot in early Asian trading as price edged lower in New York session due to falling US yields (benchmark 10-year hit 4-month low of 1.296%, circa 1.3179) following intra-day bounce on Wed from 110.40 to 110.81.

Today's weakness to 110.43 suggests briefly break below 110.40 is likely, however, loss of recent downward momentum and intra-day renewed usd's strength vs other G7 currencies should bring rebound later today.

Offers are tipped at 110.70/80 with stops above 110.85 whilst bids are noted at 110.45-40 with stops below there and more below 110.20.
On the data front, we the the usual U.S. weekly jobless claims and continued jobless claims.

 

[AceTRaderForex]

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

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

USD/JPY - 109.90.. Dollar pares yesterday's losses in Asia on Friday after hitting a near 1-month trough of 109.54 in New York morning as bargain hunting by Japanese importers lifted price to 109.92.

As Thursday's selloff from 110.70 (AUS) to 109.54 which represented the largest one-day fall in 7 months due to active safe-haven yen buying on the back of global stock market rout as well as falling U.S. yields (benchmark 10-year hit a 4-month low of 1.250%, circa 1.3162%) signals medium-term uptrend has made a top earlier at July's 15-month peak at 111.65, the pair is en route to 109.20 (June's low) after consolidation.
Offers are tipped at 109.95/00 with stop above 110.05/10 while bids are noted at 109.70-60 with stops below 109.50.

T.G.I.F., economic calendar in the U.S. is very light with wholesale inventories n wholesale sales being the only data due out, therefore, traders will continue to take cue from intra-day moves in global stock markets n U.S. yields.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1874.. Euro trades narrowly in subdued Asian morning after Fri's gain from 1.1826 (Europe) to 1.1881 due to broad-based usd's weakness (except vs yen) as rebound in global stocks boosted risk appetite.

As the rally from Wed's 3-month trough of 1.1782 signals recent downtrend has made a temporary low, consolidation with upside bias remains for re-test of last week's 1.1894 high (Tue), above would extend gain to 1.1909/11 but o/bot condition should cap price at 1.1940/44.
Order book is fairly light with some bids noted at 1.1860/55 with stops below there, more stops are reported below 1.1825. Offers are tipped at 1.1880/85 with stops above 1.1900.

No eco. data is due out from the euro area countries, however, we have Eurogroup meeting in Brussels today where ECB President Lagarde and ECB Board member Panetta will attend the meeting. ECB VP de Guindos will lecture at a virtual lecture "ECB and the future of monetary policy" in Frankfurt at 09:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 110.43.. The pair remains on the front foot in Asian trading a renewed broad-based yen selling following Monday's rally in U.S. yields and gain in U.S. stocks boosted risk sentiment, suggesting upmove from last week's low at 109.54 (Thursday) to retrace recent decline from July's 15-month peak at 111.65 would head towards 110.59 (50% r) but reckon res at 110.81 would cap upside.

Therefore, trading dollar from long side is the way to go, bids have been raised to 110.30-20 with stops reported below 110.00 while offers are tipped at 110.60/70 with stops touted above 110.85.

On the data front, U.S. will release a slew of eco. data (please refer to our EI page for details), market attention is on Jun CPI data, a higher-than-expected number will send usd higher, however, market's main focus this week's is Fed President J. Powell's 2-day testimony before the Congress starting Wednesday. We also have 3 Fed officials scheduled to speak in New York session.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1781.. Euro languishes near Tuesday's 3-month trough of 1.1773 in relatively subdued Asian trading as market is on yen initially, then intra-day jump in the kiwi.

Despite intra-day sellof to 1.1793 after release of 'hot' US inflation data, euro staged a short-covering bounce to 1.1832 but only to tumble to session lows of 1.1773 as U.S. yields rallied. As yesterday's break of prev. July's 1.1782 low suggests correction from 2021 bottom at 1.1705 (March) has ended, price is en route to re-test this level especially if J. Powells sounds less dovish in his 2-day semi-annual testimony before the Senate.
Therefore, selling euro on recovery is the way to go, offers are tipped at 1.1795/05 n more above with stops touted above 1.1840. Bids are noted at 1.1770/60 with stops below there.

Eco. data in the euro area countries is very light with EU's industrial production being he only data due out. Market in France is closed for Bastille Day holiday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1833.. Euro trades narrowly in subdued Asian morning after yesterday's rally from 1.1773 (Asia) to 1.1838 in New York session due to broad-based usd's weakness on selloff in U.S. yields n J. Powell's dovish testimony.

As said yesterday's rebound after re-testing Tuesday's 3-month trough of 1.1773 suggests recent decline has made a temp. low, consolidation with upside bias remains for a stronger retracement towards 1.1881, however, reckon last week's top at 1.1894 (Tuesday) would cap upside n yield retreat later today or tomorrow.
Whilst trading from long side is preferred, position takers are recommended to sell euro on rally for re-test of 2021 bottom at 1.1705 (March) later this month. Bids are noted at 1.1825/15 with stops touted below 1.1800 while offers are tipped at 1.1835/40 with stops above 1.1855.

Eco. calendar is pretty light with Italy's CPI being the only data due out. ECB members Elderson n McCaul will appear at a public hearing in Frankfurt at 10:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 July 2021 05:30GMT

USD/JPY - 110.00.. Despite initial weakness to 109.74 shortly after Tokyo open, failure to re-test Thursday's 109.72 low (Europe) quickly lifted price and dlr climbed back to 110.03 due to broad-based unwinding of short yen positions by traders ahead of BoJ's monetary policy decision which will likely come any time now.

As dlr's fall from this week's high at 110.69 (Wednesday) to 109.72 suggests correction from 109.54 has ended, break there would extend early fall from July's 15-month peak at 111.65 to next chat obj. at 109.20 (Jun low) but reckon 108.90/00 may contain weakness.
Offers are tipped at 110.05/10 with some stops above there, more stops are touted above 110.25.
Bids are noted at 109.75/70 with stops below there n more stops are reported below 109.50.

T.G.I.F. after a roller-coaster week, now that the 2-day semi-annual testimony by Fed J. Powell is out of the way, traders can take a breather. On the data front, we have U.S. retail sales, business inventories and University of Michigan consumer confidence. We also have New York Fed President Williams scheduled to speak at 13:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 109.91.. The pair remained on the back foot in active Tokyo trading due to renewed risk-off trade as U.S. yields continued its last week's slide ( benchmark 10-year penetrated last week's 1.292% low to a fresh 1-week trough of 1.264%, circa 1.2769%) and easily penetrated Friday's low at 110.04 (New York) to 109.86 ahead of Tokyo open.

Intra-day broad-based yen's strength vs usd, euro, gbp n aud etc suggests re-test of last week's 109.72 low would be seen after conosolidation, break would head towards July's bottom at 109.54 later today.
Offers are tipped at 109.00/05 with stops above 110.20 while some bids are noted at 109.80-75 with stops below 109.70.

U.S. eco. calendar is very thin today with second-tier NZHB housing market index being the only data due out, so traders will taken cue from intra-day move in U.S. yields and later U.S. stocks.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1799.. Euro moves narrowly in subdued Asian morning after Monday's roller-coaster ride. Although price met selling at 1.1813 (AUS) n fell in Europe on renewed usd's strength to 1.1766, then to a fresh 3-month low of 1.1765 shortly after New York open, price briefly jumped to 1.1824 on active buying in eur/gbp and short squeeze before retreating to 1.1792 in late New York.

Despite intra-day marginal weakness to 1.1791 at Asian open, as said yesterday's low suggests recent decline has made a temp. bottom, range trading is likely to continue in Europe n above 1.1824 would bring stronger retracement to 1.1845/50 before prospect of retreat.
Bids are noted at 1.1795/90 with stops below 1.1765 while offers are tipped at 1.1815/20 with stops touted above 1.1825.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1772.. The single currency inches lower in subdued Asian morning due to intra-day fall in cable after staging a minor rebound from Tuesday's 3-1/2 month trough of 1.1756 to 1.1785 in New York session, suggesting narrow range trading may continue until European open.

As yesterday's marginal weakness to 1.1756 suggests recent decline remains in progress, as long as Monday's 1.1824 top holds, downside bias remains but traders are wary of pushing euro much lower as 2021 bottom at 1.1705 (March) is expected to hold ahead of Thursday's key ECB monetary policy meeting, a dovish hold together with dovish comments by ECB president Lagarde is needed to push euro below 1.1705.
Offers are tipped at 1.1790/00 with stops above 1.1810 while bids are noted at 1.1765/55 with stops below 1.1750.

The only eco. data due out today is Italy's industrial sales. We have France's FinMin Le Maire n Germany's EconMin Altmaier scheduled to speak at 13:00GMT.