AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 17 Nov 2021 05:30GMT

EUR/USD - 1.1323.. The single currency languishes near Tue's fresh 16-month bottom at 1.1309 in subdued Asian morning as y'day's resumption of recent downtrend after robust US retails sales n rally in US yields had almost wiped out nearly all die-hard euro bulls (although price staged a short-covering bounce fm 1.1331 to 1.1355 after the data before falling), so 'sell euro on rally' strategy may not work, however, as market is pretty short on the euro, further steep fall without bearish fundamentals is unlikely to be seen.

As the trend is your friend, selling euro again on recovery in anticipation of resumption of downtrend to 1.1291 (being 61.8% r of 2020 low at 1.0637 to 2021 high at 1.2349) is favoured, however, reckon minor daily chart sup at 1.1256 should remain intact.
Offers are tipped at 1.1335/45 n more abv with some stops touted abv 1.1355 n bids are noted at 1.1310-1.1300 (profit taking) with stops below there.

The euro area countries will release a slew of data, pls refer to our EI page for details. ECB's Schnabel will speak at a financial conference at 14:00GMT n then ECB President Lagarde will appear at an event at 18:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Nov 2021 05:30GMT

USD/JPY - 114.06.. The pair remains on the back foot in Asian trading after decline from Wednesday's fresh 3-year peak of 114.97 (AUS) to 113.94 in New York due to selloff in US yields (benchmark 10-year fell from 1.6190% to 1.5840%, circa 1.5854%).

As dlr's said fall from 114.97 suggests recent uptrend has made a minor top, consolidation is in store today with downside bias, near term oversold condition would limit weakness to 113.76/77 n bring rebound. Offers are tipped at 114.20/25 n bids are noted at 113.90-80 with stops below 113.70.

On the data front, U.S. will release jobless claims, continued jobless claims, Philly Fed mfg index, leading index change n KC Fed mfg.

 

[AceTRaderForex]

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

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

USD/JPY - 114.34.. Dlr moves narrowly in relatively subdued Asian morning after staging a rebound from 113.89 to 114.48 (New York) on Thursday, suggesting 1st leg of correction from Wed's fresh 3-year peak at 114.97 has ended.

As this week's decline in U.S. yields signals recent uptrend has made a temporary top, further volatile consolidation below 114.97 is envisaged b4 prospect of resumption of uptrend next week.
Offers are tipped at 114.40/45 with stops above 114.50 while bids are noted at 114.00-90 with stops below 113.75.

T.G.I.F., U.S. eco. calendar is empty today, however, we have two Fed's Board of Governors (voters) Waller n Clarida speaking are 15:45GMT n 17:15GMT respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 114.14.. Dlr pares Fri's losses n inches higher in Asian morning in tandem with with recovery in US yields, suggesting 1st leg of correction fm Wed's fresh 3-year peak at 114.97 has ended at Fri's 8-day trough of 113.59.

As long as 114.48/53 holds, further choppy sideways swings are in store n below 113.89 may head back to 113.59 but 113.26/31 should remain intact. Offers are tipped at 114.20/30 with some stop abv 114.55 while bids are noted at 113.90/80 n more below with stops below 113.60.

On the data front, we have U.S. Chicago Fed National Activity index n then existing homes sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1237.. Euro gains no respite in Asian trading n briefly penetrated Monday's fresh 16-month low at 1.1231 to 1.1227, however, price has edged higher on lack of follow-through selling.

Monday's resumption of Medium Term downtrend suggests price is en route to projected target at 1.1186, however, oversold condition is likely to keep price above minor sup at 1.1169.
Offers are tipped at 1.1245/55 n more above there with stops above 1.1265 while bids are noted at 1.1220/10 with some stops touted below 1.1200.

Today is PMI day in the euro area countries, please refer to our EI page for details and pay attention to German n EU's Markit mfg n services PMIs at 08:30GMT n 09:00GMT respectively, if actuals readings come in weaker than street forecast, euro will meet another round of bashing.
We also have ECB officials Hakkarainen and de Guindos schedlued to speak.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1238.. Despite moving broadly sideways in relatively subdued NY session after staging a rebound from Tue's fresh 16-month trough of 1.1227 (Asia) to 1.1274 in European morning on a bout of short covering, the single currency inched lower in Asian morning today, suggesting downside bias remains for resumption of recent downtrend after consolidation.

Having said that, as recent decline is losing momentum, steep drop below 1.1200 is not envisaged today n risk has increased for a long-overdue minor correction to take place later today or tom.
Offers are tipped at 1.1260/70 with stops abv 1.1275 while bids are noted at 1.1230-1.1225 with stops below there.

On the data front, we have France's business climate n then key German Ifo data (09:00GMT), a weaker-than-expected number will trigger another round of euro bashing but as market is pretty short on the euros, beware of a brief drop and then another short-covering rebound.
We also have some ECB officials scheduled to speak, please refer to our EI page for details.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1210.. Euro is turning losses in relatively subdued Asian morning after yesterday's selloff from 1.1255 in Europe to a fresh 16-month bottom at 1.1187 in New York morning on broad-based usd's strength before staging a minor recovery in New York afternoon.

Intra-day gain to 1.1212 in Asian morning suggests euro would consolidate above 1.1187 ahead of European open, reckon 1.1227 (Tuesday low, now res) would cap upside and yield another fall later today, however, loss of downward momentum is expected to prevent steep fall n 1.1135/40 should remain intact.
Offers are tipped at 1.1220/25 with stops above 1.1235 while some bids are noted at 1.1195-85 with stops below 1.1180.

Although trading will die down later today in N. American morning due to Thanksgiving holiday in the U.S., euro area countries will release a slew of eco. data which will move the euro, pls refer to our EI page for details n pay attention to German Q3 GDP n Gfk consumer confidence at European open n later, minutes of last ECB policy meeting.
We also have a number of ECB officials scheduled to speak including ECB President Lagarde.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Nov 2021 04:30GMT

USD/JPY - 104.85.. Despite moving narrowly in holiday-thin North American session Thursday due to U.S. Thanksgiving holiday, the pair tumbled ahead of Tokyo open on active safe-haven yen, usd & chf buying in reaction to market concerns on overnight Covid variant news (see previous update).

Dlr's intra-day fall to 114.69 suggests recent uptrend has made a temporary top at Thursday's fresh 3-year peak at 115.51 and as long as 115.25 (Thur low, now res) holds, downside bias remains for a stronger retracement to 104.45/50, break may risk weakness towards 114.00.
Offers are tipped at 115.00/10 n more above with stops above 115.25 while some bids are noted at 114.70/60 with stops below 104.45.

T.G.I.F., no U.S. eco. data is due out n many U.S. traders are taking long-weekend leave, so trading may quieten down after Euroepan close but beware of volatility in a thin market condition if Covid concerns escalate

 

[AceTRaderForex]

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

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

USD/JPY - 113.60.. Dlr pares Friday's selloff in Asia on Monday due to bargain hunting by Japanese names after Friday's selloff from 1115.37 (AUS) to a 2-week trough of 113.06 in New York morning on active safe-haven yen buying on the back of falling U.S. yields triggered by market worries over new Covid variant.

As 113.87 has capped recovery, consolidation with downside bias remains and below 113.06 would extend decline from Wednesday's fresh 3-year peak at 115.51 towards next daily obj. at 112.73 (Nov low).
Offers are tipped at 113.80/90 with stops above 114.00 while bids are noted at 113.35-25 and more below with stops below 113.00.

U.S. will release a slew of eco. data n we have also have a number of Fed officials scheduled to speak in NY session, please refer to our EI page for details. Fed chair J. Powell will give a pre-recorded speech at an event at 20:05GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1301.. Euro regains traction in Asian morning n reclaims 1.1300 handle after falling on Monday from 1.1315 (New Zealand) to 1.1259 in New York morning before moving narrowly. Price met renewed buying at 1.1285 and climbed steadily to 1.1302 ahead of Tokyo lunch break.

Intra-day firmness suggests pullback from Friday's 13.1330 high has ended at 1.1259 n corrective rise from Wednesday's fresh 16-month trough at 1.1187 would head to 1.1350/55, however, loss of upward momentum should cap price below res at 1.1374.
Bids are noted at 1.1290-85 n more below with stops reported below 1.1255 while offers are tipped at 1.1315/25 with stops touted above 1.1330.

On the data front, we have data dump from the euro area countries, please refer to our EI page for datails. ECB board member de Cos will speak at 14:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1320.. Euro is trading in the middle of Tuesday's wild range in relatively subdued Asian morning on Wednesday after a roller-coaster Tuesday's session. Although price extended recent upmove to an 11-day high of 1.1382 on broad-based usd's weakness, price tanked briefly but sharply to as low as 1.1236 following Fed Powell's hawkish comments.

Although euro's rally back to 1.1342 in Australia suggests choppy sideways swings are in store, we're taking the view said fall from 1.1382 signals correction from November's fresh 16-month bottom at 1.1187 has ended, therefore, consolidation with downside bias is envisaged but below 1.1259/61 needed for re-test of 1.1236.
Order board is fairly light on the first trading day in December with some offers tipped at 1.1340/50 with stops above 1.1385 while some bids are noted at 1.1300-1.1290 with some stops touted below 1.1255.

Today is PMI day in the euro area countries, please refer to our EI page for details.
Pay attention to German retail sales, then German and EU's Markit mfg PMIs.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1334.. Euro is in holding pattern after yesterday's sideways swings following Tuesday's selloff from 1.1382 to 1.1236 after hawkish comments by Fed chair J. Poweell.

As said decline from 1.1382 suggests early correction from November's fresh 16-month bottom at 1.1187 has ended, consolidation with downside bias remains ahead of Friday's key U.S. jobs report.
Offers are tipped at1.1350/60 with stops above there, more stops are touted above 1.1385.
Bids are noted at 1.1310/00 with stops below there.

On the data front, we have Italy's unemployment n then the same from the EU as well as producer prices. ECB board member Panetta will chair at a ECB biennial conference on Fiscal policy and EMU governance at 14:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 03 Dec 2021 05:30GMT

USD/JPY - 113.15.. The pair is in holding pattern following 2 consecutive days of sideways swings after staging a brief but sharp bounce from Tuesday's 6-week trough of 112.54 to 113.70 on Fed J. Powell's hawkish comments as traders are keeping their powder dry ahead of key U.S. jobs report later today.

As said rebound from 112.54 signals 1st leg of correction from November's fresh 3-year peak at 115.51 has ended, consolidation is envisaged n a robust payroll reading would bring stronger gain to 114.03 (50% r from 115.51) but reckon 114.38 (61.8% r) would cap upside.
On the flip side, a weaker-than-expected NFP number would trigger broad-based usd selling n yield weakness to 112.20/30.

U.S. will release a slew of important eco. data, please refer to our EI page for details n after the jobs report, pay attention to Markit services PMI, then later ISM non-mfg PMI.

 

[AceTRaderForex]

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

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

USD/JPY - 112.97.. Dlr pares Fri's weakness in Asian morning following intra-day selloff in post-NFP New Y at 113.61 in tandem with U.S. yields (benchmark 10-year yield dropped to a 9-week low of 1.335%, circa 1.381%), suggesting futher choppy swings abv Tue's 6-week trough at 112.54 would continue.

As dlr's early fall from 2021 peak at 115.51 to 112.54 in Nov suggests recent uptrend has made a temporary top, as long as 113.70 (reaction high) holds, stronger correction to 112.31 is envisaged after consolidation.
Offers are tipped at 113.20/30 n more above with stops touted above 113.70 while bids are noted at 112.70-60 with stops reported below 112.50.

After Friday's key U.S. jobs report, no economic data is due out today, so trader will take cue from intra-day move in U.S. yields and later U.S. stocks.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1291.. Trading the single currency was tricky yesterday as price continued to 'gyrate' inside recent established broad range of 1.1382-1.1236. Despite rebound to 1.1326 in late Fri after intra-day fall from 1.1333 to 1.1267 in post-NFP New York, euro ratcheted lower from 1.1314 (New Zealand) to 1.275 in European morning before rebounding to 1.1310 but later weakened to session lows of 1.1267 in New York morning due to rebound in usd on rally in US yields, however, price held above said 1.1267 sup n inched higher to 1.1292 in Asia.

Intra-day rise suggests further sideways swing would continue in European morning ahead of EU's GDP n German ZEW data, a weaker-than-expected reading needed to trigger another round of euro selling.

On the data front, euro area countries will release a slew of eco. data, pls refer to our EI page for details. There is a ECOFIN meeting in Brussels n ECB Vice President de Guindos will participate in the meeting.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1293.. The single currency regains traction in Asian trading due to renewed usd's weakness following Tue's selloff fm 1.1299 in European morning to 1.1229 in NY morning on soft EU data n rising U.S. yields, however, rally in U.S. stocks boosted risk sentiment n lifted price to 1.1273 at the close.

Euro's intra-day rise to 1.1295 suggests further choppy swings abv Nov's fresh 16-month bottom at 1.1187 would continue n abv 1.1300/10 may bring stronger gain twd 1.1333 b4 prospect of decline due to near term o/bot condition. Bids have been raised to 1.1260-50 while offers are tipped at 1.1295/05 with some stops reported abv 1.1310.

Although no euro area data is due out today, we have a number of ECB officials scheduled to speak, pls refer to our EI page for details n ECB President Lagarde will be delivering video speech at an event at 08:15GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1333.. Euro moves relatively narrowly in subdued Asian morning after Wednesday's impressive rally from 1.1268 ahead of New York open to a near 1-week high of 1.1354 due to intra-day active euro buying vs yen, gbp n chf as well as usd's weakness on return of risk appetite as U.S. stocks rose.

Euro's rebound from 1.1229 (Tuesday) to 1.1354 suggests early pullback from last week's 1.1382 high (Tuesday) has ended and re-test of this near term key res is envisaged, break there would extend upmove from November's fresh 16-month bottom at 1.1187 towards 1.1434 later.
Bids are noted at 1.1330-20 and more below with stops below 1.1300 while offers are tipped at 1.1355/60 with stops building up above 1.1385.

On the data front, we have German imports, exports, trade balance n current, then EU's economic bulletin.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Dec 2021 06:30GMT

USD/JPY - 113.48.. Dlr moves narrowly in subdued Tokyo open after Thur's choppy swings in NY session.
Despite extending decline fm Wed's 8-day high of 113.28 at NY open due to intra-day fall in U.S. yields, price rebounded on short covering due to upbeat U.S. data after weekly jobless claims dropped to lowest level since 1969, price climbed back to 113.65 b4 retreating to 113.34 in Asia.

As dlr's cross-inspired fall fm 113.95 to 113.28 suggests correction fm Nov's 6-week trough at 112.54 has possibly ended, a daily close below 113.08 sup would add credence to this view n yields re-test of 112.54 later next week. Offers are tipped at 113.55/65 with stops abv 113.95 while bids are noted at 113.30/20.

T.G.I.F., U.S. will release a slew of eco. data (pls refer to our EI page for details) n market focus is this week's most important U.S. data ahead of forthcoming FOMC meeting next week, namely CPI data. Traders are expected a spike in U.S. inflation to reach a near 7% level, if actula is near 7% or higher, then dlr may briefly spike higher b4 reterating on profit taking ahead of w/end.

 

[AceTRaderForex]

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

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

USD/JPY - 113.55.. Dlr pares Friday's decline from 113.79 (Europe) to 113.23 and rebounded in tandem with U.S. treasury yields to 113.56 in Tokyo morning on cross-selling in yen.

As Friday's brief break of 113.28 (Thur low) suggests correction from November's 6-week trough of 112.54 has ended, consolidation with downside bias remains for another fall.
Offers are tipped at 113.65/75 with stops above 113.80 n more stops are reported above 114.00.
Bids are noted at 113.30/20 with stops below 113.00.

After Friday's U.S. inflation data, no eco. indicator is due to out today n market's main attention if Wednesday's FOMC monetary policy announcement as well as Fed's forward guidance (dot-plot).

 

[AceTRaderForex]

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

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

EUR/USD - 1.1279.. Trading the euro was tricky again on Mon as despite meeting renewed selling at 1.1319 (AUS) n then intra-day brief break of Fri's 1.1266 low to 1.1261 in European morning, price rebounded due to broad-based usd's weakness to 1.1307 in NY b4 retreating.

Euro's daily wild swings after early rebound fm Nov's 16-month bottom at 1.11787 to 1.1382 are likely to continue as traders are keeping their power dry ahead of Wed's Fed's monetary policy announcement n dot plot, then ECB monetary policy meeting Thur, however, the volatile price action fm 1.1187 is developing into a bearish triangle, as long as 1.1354 (C-leg top) holds, a 'downside break' is envisaged.
Offers ar tipped at 1.1300/10 with stops abv 1.1330 while bids are noted at 1.1270-60 with stops below 1.1225.

The only eco. data due out from euro area countries is EU's industrial production.