AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Jun 24: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
24 Jun 2016 02:03GMT

GBP/USD - ..... News about Brexit vote from Reuters: -implied probability of Leave vote in EU referendum at 44 pct
Earlier results:
-implied probability of leave vote 63 percent
-Remain on 47.3 pct, leave on 52.7 pct after 41 of 382 counting areas plus partial BBC Northern Irish figures
-Remain wins 168,335 votes in Glasgow, Leave wins 84,474 votes in EU referendum result
-Remain wins 118,463 votes in Wandsworth, Leave wins 39,421 votes in EU referendum result
-North Lanarkshire votes 95,549 to remain, 59,400 to leave
-Remain wins 58,942 votes in Wigan, Leave wins 104,331 votes in eu referendum result
-Remain wins 118,453 votes in Liverpool, Leave wins 85,101 votes in EU referendum result
-Remain wins 76,420 votes in Islington, Leave wins 25,180 votes in EU referendum result
-turnout stands at 72.1 pct after 200 counting areas out of 382 report turnout
-Remain on 48.5 pct, Leave on 51.5 pct, after 15 counting areas out of 382 declare
-Hartlepool unconfirmed result leave have taken more than 69 pct
-Remain has between 55 pct and 60 pct in Birmingham
-couple of London boroughs voted over 80 pct in favour of Remain
-Remain wins 30,748 votes in Basildon, Leave wins 67,251 votes in EU referendum result
-Remain on 50.3 pct, Leave on 49.7 pct after 19 of 382 counting areas plus further BBC Northern Irish figures
-Ex Scottish first minister Alex Salmond says Scotland looks like more than 60 pct for Remain
-city of London votes Remain
-Remain wins 3312 votes in city of London, Leave wins 1087 votes in EU referendum result
-Middlesborough 65.5 pct leave
-Flintshire votes leave
-Remain on 47.4 pct, leave on 52.6 pct after 26 of 382 counting areas plus partial BBC Northern Irish figures
please refer more earlier results from our home page (Intra-Day Market Moving News and Views).

 

[AceTRaderForex]

Britain set to LEAVE EU

Nation Results

Wales votes Leave 854,572 Remain 772,347

Scotland votes Leave 1,018,322 Remain 1,661,191

Northern Ireland Leave 349,442 Remain 440,437

England (14 more to count) Leave 14,180,820 Remain 12,453,878

(data from BBC)

 

[AceTRaderForex]

Japan held emergency meeting on the aftermath due to Brexit


Intra-Day Market Moving News and Views
27 Jun 2016 03:40GMT

USD/JPY - ......This morning an emergency meeting was called four days after Britain's historic vote to leave the European Union. Bank of Japan Deputy Governor Hiroshi Nakaso said that they will ensure liquidity in the yen and in foreign currencies if needed by tapping currency swap lines established among six central banks.
He saw no problems currently in market liquidity or in foreign currency funding among Japanese firms, but would continue to monitor the situation, he told reporters after an emergency meeting with Prime Minister Shinzo Abe and Finance Minister Taro Aso.

BoJ deputy gov Nakaso they have no comment on whether to hold extra policy meeting and don't see problem now in market liquidity, foreign currency funding by Japan firms.
While they will continue to monitor market situation, and will assure liquidity in foreign currencies by making use of currency swap arrangements among six central banks.

After the emergency meeting, Japan PM Abe told reporters that he had instructed Aso to take necessary steps in forex market, to focus even more closely especially attention to markets including forex. It is important for G7 to continue to send messages to stabilise markets. There are uncertainty, risks remain in financial markets and they expect BoJ to take steps to sustain market liquidity, financial intermediation

 

[AceTRaderForex]

AceTraderFx Jun 28: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
28 Jun 2016 03:00GMT

USD/JPY - ...... Despite ratcheting higher from Monday's low of 101.41 at New York open to 102.13 near New York close, dlr mat renewed selling in Australian morning and then fell to intra-day low of 101.56 as initial weakness in the Nikkei following Monday's selloff in European n U.S. equities triggered another round of yen-buying on risk aversion.
However, price briefly bounced back to 101.93 as the Nikkie erased half of its initial loss, suggesting choppy sideways swings are in store.

Unless we see global stick market rout today, the pair is expected to gyrate inside 102.47-101.41 range for now.
Offers are tipped at 101.90/102.10 and more above with stops touted above 102.50, initial bids are noted at 101.60-50 with stops below 101.40, however, more buying interest is reported above the 100 level.

Although market remains on the edge in the aftermath of 'Brexit' shock, if normality does resume later in the day, investors will pay attention to release of a slew of U.S. economic data with the reading of Q1 GDP at 12:30GMT, then Caseshiller home price followed later by consumer confidence.

 

[AceTRaderForex]

AceTraderFx Jun 29: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
29 Jun 2016 03:10GMT

USD/JPY - .....Today, Japanese Prime Minister Shinzo Abe at the start of a meeting between the government and the Bank of Japan to discuss market developments in the wake of the Brexit vote had urged the central bank to provide ample funds to the market to ensure liquidity and the market's intermediary functioning.
Abe also wanted Finance Minister Taro Aso to pay utmost attention to currency and financial market moves. The government was ready to take all available policy steps to support Japan's economy and small firms in the wake of Britain's shock vote to leave the European Union.

Abe commented that it is important for G7 to continue to deliver messages on market stability, with uncertainty, risks remain in financial markets but Japan is ready to mobilise all available policy measures to support Japan economy.

While today data showed Japan's retail sales fell more than expected in May in a third straight month of annual declines, keeping policymakers under pressure for more stimulus to support a fragile economic recovery.
Retail sales also fell 1.9 percent in May from a year earlier, more than a median market forecast for a 1.6 percent declines, data from the Ministry of Economy, Trade and Industry showed.
The weak reading underscores the relative fragility in Japan's economy, with slow wage growth and gloomy prospects of recovery weighing on household spending.
The market turmoil in the wake of Britain's vote to leave the European Union adds to headaches for Japanese policymakers worried about the drag the yen's recent rises could have on exports.

 

[AceTRaderForex]

AceTraderFx Jun 29: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
29 Jun 2016 03:05GMT

GBP/USD - ...... The British pound rallied after finding support at 1.3287 ahead of Asian open on Wednesday and then rallied to 1.3534 in New York morning amid heavy short covering following a selloff to a fresh 31-year trough of 1.3121 on Monday in the wake of last week's stunning Brexit results.
Having said that, price later fell to 1.3415 (Reuters) near New York close and then lower to 1.3399 in Asian morning on Thursday due partly to renewed cross-selling in sterling vs other major currencies.

Today's focus for the British pound in European session will be on the release of final readings of U.K.'s GDP for Q1 at 08:30GMT.
Later, BoE's Governor Mark Carney will deliver speech at 15:00GMT.

At the moment, offers are reported at 1.3420-30 and then 1.3440-50 with mixture of offers and stops in the region of 1.3470-90.
On the downside, bids are placed at 1.3370-60 and more at 1.3350-40 with stops below 1.3330.

 

[AceTRaderForex]

AceTraderFx July 01: Intra-Day Market Moving News and Views USD/JPY

01 Jul 2016 07:00GMT

USD/JPY - ...... Reuters new reported, Japanese consumer prices rose 0.8 percent in May from a year earlier when stripping away the effect of energy and fresh food costs, an indicator released by the Bank of Japan showed on Friday. That was slower than a 0.9 percent rise in April.
The BOJ uses the government's core CPI, which excludes fresh food but includes energy costs, as its key price measurement in guiding monetary policy. That index fell 0.4 percent in May.
With core CPI stagnant due largely to slumping oil prices, the central bank began internally calculating a new index that shows inflation exceeding government data. That index strips
away volatile fresh food and energy costs but includes processed and imported food prices, which are rising.

The revised index for new orders was 46.1, higher than a preliminary reading of 45.8 and above 44.7 in the previous month, but still showing five consecutive months of contraction.

The yen has risen around 17 percent versus the dollar so far this year, and there are concerns that further yen gains could hurt exports, squeeze corporate earnings and lead companies to cut production.

Japan's government is preparing a fiscal stimulus package for this autumn. Economists say the government faces the urgent task of reviving domestic demand as slow wage growth and worries about the strong yen threaten to hurt sentiment.

 

[AceTRaderForex]

AceTraderFx Jul 4: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
04 Jul 2016 03:16GMT

USD/JPY - .... Although short-term specs gave the greenback a brief bashing ahead of Asian open on stop hunting and pressured the pair briefly below Friday's 102.44 low to 102.43, lack of follow-through selling swiftly lifted price to 102.68, suggesting range trading is likely to continue in Asia.

As U.S. market is closed for Independence Day holiday, trading is likely to die down by European midday.
Friday's intra-day selloff from 103.40 (AUS) to as low as 102.44 in Europe n subsequent narrow move in New York session suggests a temp. top has been made there, so mentality today is to sell the pair on recovery for a retracement of last week's erratic rise from 101.41 (Monday).

Offers are tipped at 102.70/80 and more at 103.00/05 with stops building above 103.55.
Initial bids are noted at 102.45-102.35 with stops below there, more stops are touted below 102.00.

 

[AceTRaderForex]

AceTraderFx Jul 04: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
04 Jul 2016 09:05GMT

Euro hits intra-day low after downbeat Eurozone data, Reuters reported sentiment in the euro zone fell to an 18-month low in July, a survey showed on Monday, as investors and analysts fear a major economic fallout from Britain's vote last month to leave the European Union.

The Frankfurt-based Sentix research group's index fell to 1.7 from 9.9 in June. Analysts polled by Reuters has expected a reading of 5.0.
Statement from Sentix said that the Brexit vote at the end of June in the United Kingdom is having a very different impact globally in terms of economic expectations, investors are clearly differentiating and in addition to Switzerland, they see the euro zone as mostly affected. Therefore the euro zone economy is dangerously close to stagnation.

Reflecting those concerns, the sub-index measuring expectations fell to -2.0 from 10 in June, reaching its lowest level since November 2014. A sub-index measuring the euro zone's current condition fell to 5.5 from 9.8.

Sentix added that the European Central Bank (ECB) faces huge pressure from markets to act. A sub index measuring monetary policy expectations rose to 30.5 from 15.

The European Central Bank surprised many in March with interest rate cuts, additional monthly bond purchases and more cheap loans for banks designed as an incentive for them to lend more but left policy unchanged in April.

An index tracking Germany showed sentiment in Europe's largest economy fell to 18.4 from 20.7. Investors were sceptical about the outlook for the German economy and the index measuring expectations fell to 2.7 from 7.9.

This survey of 1,056 investors was conducted end of last week, between June 30 and July 2.

 

[AceTRaderForex]

Reuters reported Sharp Fall In British Business Confidence

AceTraderFx Jul 05: Intra-Day Market Moving News and Views GBP/USD
Intra-Day Market Moving News and Views
05 Jul 2016 01:05GMT

Yesterday at closing GBP/USD bids were seen at 1.3250/60 and more below at 1.3220/30 with stops building up below there whilst initial offers were noted at 1.3370/80, suggesting further choppy trading would be seen.

Reuters just reported confidence among British businesses fell sharply following the vote to leave the European Union, a survey showed on Tuesday, reinforcing the view that the economy could be in for hard times after the historic decision.
The number of businesses pessimistic about the economy over the next twelve months jumped to 49 percent in the week following the referendum from 25 percent before the vote outcome, according to a survey conducted by YouGov and the Centre for Economics and Business Research (Cebr).

Britain's vote to withdraw from the 28-nation club has prompted political chaos, a sharp drop in sterling and clouded the economic outlook.
Against this backdrop, Bank of England Governor Mark Carney has said it would likely need to provide more stimulus to the economy over the summer.

The survey of 1,000 British-based companies also showed 26 percent of respondents were pessimistic about their own business outlook, up from 16 percent before the referendum.
Businesses are increasingly downbeat about their operations in the year ahead, with expectations for domestic sales, exports and capital investment all dropping sharply, it showed.

 

[AceTRaderForex]

AceTraderFx Jul 06: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
06 Jul 2016 02:02GMT

USD/JPY - ..... Despite staging a minor short-covering recovery after New York close following hawkish comments by some Fed officials (see previous updates for details), the pair tumble ahead of Tokyo open as intra-day selloff in the sterling prompted fresh round of yen-buying by investors on risk aversion.
The intra-day weakness in the Nikkie (currently down 3% at 15192) suggests market remains in 'risk off' mode. Therefore, selling the greenback is recommended.

Offers have been lowered to 101.00/10 and more above, some bids are noted at 100.50-40 and more below with stops touted below 100.00.

Although U.S. will release some eco. data in New York morning, market may pay more attention to Fed minutes for June later in the day at 18:00GMT

 

[AceTRaderForex]

AceTraderFx Jul 06: Intra-Day Market Moving News and Views

Intra-Day Market Moving News and Views
06 Jul 2016 08:04GMT

GBP/USD - ..... Although the British pound came under renewed selling pressure at 1.3028 against the greenback ahead in Australia and fell to a fresh 31-year trough at 1.2798 in Asia as investors shunned the currency in the fallout of the country's vote to leave the EU, short-covering lifted price to 1.2908 near Asian midday and then higher 1.2998 in European morning.

At present, offers are noted in the region of 1.3000-1.3020 and more at 1.3040-50 with stops above there, whilst bids are reported at 1.2950-40 and then 1.2930-20 with mixture of bids and stops located at 1.2900-1.2870 region.

 

[AceTRaderForex]

U.S. benchmark and Treasury yields hit record lows, with some investors betting the Fed would keep rates on hold through 2017

AceTraderFx Jul 07: Intra-Day Market Moving News and Views
07 Jul 2016 01:02GMT

USD/MAJORS -U.S. benchmark and long-dated Treasury yields hit record lows, with some investors betting the Fed would keep rates on hold through 2017. The dollar, which has gained more than two percent against a basket of currencies since the Brexit vote and could weigh on U.S. exporters, weakened slightly following publication of the Federal minutes, see below.
Before the British vote, the Federal had signaled two interest rate hikes would likely be needed this year to keep the U.S. economy from eventually overheating.

But since the British referendum, several Fed policymakers have said the uncertainty warrants caution, including New York Fed President William Dudley who said on Tuesday the Fed needed to be patient on rate increases and that it was too soon to know the fallout from the British decision.
A severe slowdown in hiring during May and weak business investment even outside the sagging energy sector had raised questions about the U.S. outlook even before the Brexit vote.
Still, in the minutes of the June meeting, many Fed policymakers who participated in the policy discussion stressed the sharpness of the hiring slowdown could be statistical noise, and most argued the economy would be ready for rate increases unless a financial or economic shock knocks America off course, according to the minutes.

Since the Brexit vote, the British pound has plunged 13 percent against the dollar, including a 1 percent decline on Wednesday, and investors and policymakers are watching out for further signs of financial stress that could hit economic growth in America and worldwide.
Fed released minutes of its previous meeting overnight. Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain's vote on EU membership, according to the minutes of the Fed's June policy meeting released on Wednesday.

The minutes of the June 14-15 meeting, which took place ahead of the June 23 referendum in which Britons voted to leave the European Union, showed widespread unease over the so-called "Brexit" vote, including among voting members on the rate-setting Federal Open Market Committee.

Worries have only intensified since the vote and Fed Governor Daniel Tarullo cited the rise in uncertainty on Wednesday when he argued for holding off on rate hikes until inflation had turned decisively higher.
At the June policy meeting, policymakers also cited a severe slowdown in hiring by U.S. employers as a reason for leaving interest rates steady last month, the minutes showed.

The Brexit vote shocked investors and triggered $2 trillion in losses in global stock markets the day after the referendum.
Anxieties remain, with global financial conditions tightening as investors anticipate it could take years before Britain and the EU agree to new rules on finance, trade and immigration.

 

[AceTRaderForex]

AceTraderFx Jul 07: Intra-Day Market Moving News and Views EUR/USDD

Intra-Day Market Moving News and Views
07 Jul 2016 04:05GMT

EUR/USDD - ..... The single currency also swung wildly in choppy Wed's session. Despite edging lower initially in Asia to 1.1037, price ratcheted higher back to 1.1088 at New York open.
The release of stronger-than-expected ISM June non-mfg index proved to a red herring as although price briefly fell to intra-day low of 1.1029, active broad-based euro buying sent price swiftly higher to session peak of 1.1112 in New York afternoon.

Euro's intra-day retreat in Asian morning suggests range trading is in store but as market can sense buying interest on dips, consolidation with mild upside bias is seen.

Bids are noted at 1.1075-65 n more below with some stops below 1.1020.
Some offers are tipped at 1.1110/20 and more above with large stops touted above 1.1200.

 

[AceTRaderForex]

AceTraderFx Jul 08: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views

08 Jul 2016 01:11GMT

USD/JPY - ..... Japan government data showed today gains in Japanese price-adjusted real wages slowed further in May, a sign upward pressure on pay rises may be waning and adding to headaches for policymakers who want wage gains to spur private consumption.
Wage growth is key for Prime Minister Shinzo Abe's reflationary Abenomics policy, which aims to end two decades of deflation and stagnation. Abe has repeatedly urged companies to increase worker compensation, as tepid pay rises may make households tighten their purse strings.

Real wages, adjusted for inflation, rose 0.2 percent in May from a year earlier, less than a revised 0.4 percent annual increase in April, data from the labour ministry showed.
Wage earners' nominal cash earnings fell for the first time since June 2015, dipping 0.2 percent this May from a revised 0.0 percent annual change in April, the data showed. Previous data showed nominal cash earnings rose an annual 0.3 percent in April.

Regular pay, which determines base salaries, dropped an annual 0.1 percent. Overtime pay - a barometer of strength in corporate activity - rose 0.6 percent in May, but less than the revised 1.1 percent gain the previous month, the data showed.
Special payments fell 4.1 percent in May, compared with a revised 1.7 percent drop in April. Because special payments are generally small, even a slight change in the amount can cause big percentage changes.

The government data also shown Japan's current account surplus narrowed slightly in May from a month earlier as a strong yen curbed gains from investment overseas, while travel income hit a record surplus due to a rise in foreign tourists.
The Ministry of Finance said the current account surplus, which measures the flow of goods, services and investments into and out of the country, stood at 1.81 trillion yen ($17.96 billion), down from 1.88 trillion yen in April.
It was the 23rd straight month of surplus, the ministry said.
Economists polled by Reuters had forecast a surplus of 1.75 trillion yen.

 

[AceTRaderForex]

AceTraderFx Jul 11 Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
11 Jul 2016 04:02GMT

USD/JPY - 100.63.. Dlr pared initial gain after ratcheting from 100.45 (New Zealand) to 100.88 following Sunday's landslide win by the ruling LDP in the upper house election.
Despite strong performance in the Nikkei (currently up 3.5% at 15642), the pair was unable to make further headway towards the 101.00 level, suggesting price is likely to move inside Friday's post-NFP range of 100.00-101.28 for rest of the day.

With no key U.S. economic data due out, technical trading and fund flows will have greater influence over intra-day price swings.
For now, offers are tipped at 100.90/00 and more above with stops reported above 101.50.
Initial bids are noted at 100.50-45 and more below with stops building below 100.00.

 

[AceTRaderForex]

AceTraderFx Jul 12 Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
12 Jul 2016 04:18GMT

USD/JPY - ..... Although the pair erased on/n gain in New York and retreated ahead of Tokyo open, renewed buying at 102.45 quickly lifted price and intra-day gathered momentum after penetrating o/n high of 102.89, dlr rallied to 103.29 after tripping stops above 103.00 before easing on profit taking.

Looks like range trading in in store, however, with the Nikkie clocking up another 400-point plus gain today, market's risk sentiment remains very much alive.
Furthermore, yesterday's report of ex-Fed Chairman Ben Bernanke ('Helicopter Ben') was seen visiting Bank of Japan and will also be meeting PM Abe some time today suggests something important is cooking (there is no smoke without fire).
So market is highly anticipating another round of fresh or new fiscal stimulus measure to be announced in the future, this has triggered massive long liquidation in yen against G7 currencies.

Buying dlr on dips is the way to go, some bids are noted at 102.80-70 and more at 102.50-40.
Some offers are tipped at 103.30/40 with some stops touted above there.

 

[AceTRaderForex]

AceTraderFx Jul 13 Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
13 Jul 2016 03:00GMT

USD/JPY - ..... In total stark contrast to dlr's spectacular rally seen on Monday and Tuesday (this 2-day rise was the biggest dlr's gain since 2014), the pair fell just ahead of Tokyo open.
Intra-day accelerated when Japan's government spokesman denied "helicopter money" as part of next stimulus measure, dlr later tumbled to as low as 103.95 before stabilising.

Looks like yesterday's 2-week high print at 104.99 would continue to hold and choppy trading with downside bias is likely as dlr longs established this week will be unwound, therefore, selling the pair on intra-day recovery is favoured.

Offers are tipped at 104.35/45 n more at 104.70.
Initial bids are noted at 104.00-103.90 with some stops touted below 103.70.

Yesterday, Abe's meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of "helicopter money" policies, also fueled speculation that the government's stimulus package could be funded by the Bank of Japan's easing.
Today, The Sankei newspaper reported Etsuro Honda, an economic adviser to Prime Minister Shinzo Abe, told the premier that now was a good time to embark on the policy, in which money is printed and directly handed to the private sector to stimulate the economy.
While Chief Cabinet Secretary Yoshihide Suga said that the Bank of Japan would decide monetary policy steps based on market movements and economic environment.

 

[AceTRaderForex]

AceTraderFx AceTraderFx Jul 14: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
14 Jul 2016 01:19GMT

GBP/USD - ..... Sterling was the biggest mover in hectic Wednesday's trading as market attention turned to BoE's 'super Thur'.
Reuters reported the Bank of England is set to cut interest rates for the first time in more than seven years as it tries to cushion the economy from the shock decision by voters to pull Britain out of the European Union.
Governor Mark Carney sent a clear signal two weeks ago that stimulus was on the way in an attempt to show the economy was in safe hands while the country's political leadership crumbled after the EU vote.

The central bank is expected to halve its benchmark interest rate to a new record low of 0.25 percent when its makes a monthly policy statement at 1100 GMT on Thursday.
Then, at its following meeting in three weeks' time, the BoE is likely to revive its massive bond-buying programme, according to a Reuters poll of economists.
Carney has warned that the financial risks of Brexit were materialising after a slump in the value of the pound and the freezing of some commercial property funds by investment funds.

Data released early on Thursday showed interest among buyers in Britain's housing market tumbled to its lowest level since mid-2008, adding to early signs of the Brexit hit to the economy.

The BoE has held its Bank Rate at 0.5 percent since March 2009, when the global financial crisis was hammering Britain. Before the referendum, it was widely expected to raise rates later this year or in early 2017, following the lead of the U.S. Federal Reserve as the economy picked up.

Now the question economists are asking is whether Britain can avoid falling back into recession.
The BoE has little hard evidence so far of how hard the referendum result has hit the economy.

The quicker-than-expected appointment on Wednesday of Theresa May as Britain's new prime minister has helped settle nerves in financial markets and reversed some of the pound's 13 percent slump against the dollar after the referendum.
But surveys and comments from retailers have shown a slide in confidence among consumers who drove Britain's recovery from the 2007-09 financial crisis. Hard data covering the post-referendum period is not expected until late July.

Nonetheless, the Bank has already lowered a capital requirement for banks in the hope of encouraging more lending.

Carney has expressed opposition to following the lead of the European Central Bank and the Bank of Japan by cutting rates below zero. Many economists say the BoE will instead revive its quantitative easing programme of buying bonds to help the economy as it faces the prospect of years of uncertainty about its trading relationship with the EU and the rest of the world.

 

[AceTRaderForex]

AceTraderFx AceTraderFx Jul 15: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
15 Jul 2016 03:00GMT

EUR/USD - ..... Although one will be forgiven to expect very narrow move to take place in Asian morning following euro's trendless trading in New York afternoon, intra-day rally in cable forced traders to buy the euro in sympathy (rally in eur/yen also triggered euro buying too), price ratcheted higher from 1.1102 to 1.1140.

Despite yesterday's intra-day retreat from 1.1165 to 1.1098 in New York morning following upbeat U.S. data, intra-day sterling-led rebound suggests consolidation with upside bias would be seen until European open. Having said that, traders are also mindful of 1.1186/90 being the res or top of recent trading range, so a break of this res is unlikely in the absence of supporting fundamental factors.

Bids are noted at 1.1110-00 and more below with stops below 1.1080, more stops are touted below 1.1040.
Offers are tipped at 1.1140/50 n at 1.1160/65 and more above with fairly large stops rumoured above 1.1200.

Italy will release trade data at 08:30GMT n EZ will release by the same together with inflation data afterwards.
Pay attention to release of a slew of U.S. eco. data later today with key U.S. CPI, retail sales, New York Fed mfg index at 12:30GMT, then we have industrial and manufacturer output, capacity utilization, bus. inventories, University of Michigan consumer confidence.
Last but not least, FOMC members Williams and Bullard will be speaking in New York afternoon.