AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 10 Apr 2019 03:00GMT

USD/JPY - 111.17.. Dlr gains respite in subdued Tokyo trading after yesterday's selloff from 111.58 to 110.98 due to safe-haven yen buying as U.S./EU trade tension, renewed drop in U.S. yields n weakness in U.S. stocks.

Although dlr's minor recovery on short covering in New York afternoon and intra-day sideways move suggests range trading is in store until European open, as Asian equities are in a sea of red (N225 current down 143 points or 0.66% at 21659 n) n benchmark 10-year U.S. yield is near a 1-week low of 2.4846%, renewed but of broad-based yen buying is expected once consolidation is over, so trading dlr from short side is favoured.
Offers are tipped at 11.25/30 with stops above there, more selling interest is reported at 111.45/55 with stops at 111.60. Bids are noted at 111.00-90 with stops below 110.80.

Pay attention to release of key U.S. inflation data at 12:30GMT where March CPI, core CPI, real weekly earnings are due out, then Federal budget n last but not the least, we have FOMC minutes at 18:00.
Therefore, one can expect a lively New York session later in the day.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 11 Apr 2019 03:00GMT

EUR/USD - 1.1276.. Wednesday turned out to a be mini bloodbath for euro bulls and bears in volatile New York session. Despite resuming recent winning streak n hitting a 2-week high of 1.1288 ahead of ECB Draghi's presser, the single currency quickly erased intra-day gain and fell in decline accelerated after Draghi said risks to the economy remained to the downside, euro hit session lows of 1.1230 before staging a rebound on short covering ahead of FOMC minutes and when it came out, the greenback fell across the board, lifting euro to 1.1278/79.

As euro is able to shrug off ECB Draghi's dovish comments, suggesting erratic rise from last week's 1.1184 low may head to 1.1300/10 after consolidation, however, reckon prev. res at 1.1332 would cap upside n yield decline later today or tomorrow.
For now, bids are noted at 1.1255-50 and more below with stops reported below 1.1230.
Offers are tipped at 1.1280/85 with stops above 1.1300.

ON the data front, Germany will release Mar CPI, HICP, then France's CPI.
We have ECB's Villeroy who is participating in IMF Spring Meetings, Washinghton D.C. and will speak at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Apr 2019 03:00GMT

GBP/USD - 1.3065.. Cable was in the back foot in choppy trading in Thursday's session as market was not impressed by EU's Brexit extension, despite intra-day sideways wings in European morning, the pound was sold n edged steadily lower to session lows of 1.3051 b4 staging a recovery in Asian morning due to intra-day jump in the euro.

Looks like price would continue to 'gyrate' inside this week's 1.2987-1.3122 range for res of the day n selling on intra-day recovery (due to rise in eur/usd) is still favoured as UK parliament has begun its Easter break, this hopefully means less Brexit headlines, less choppy moves and traders may recover from their 'Brexit fatigue' and begin to sell the pound on intra-day rebound.
Offers are tipped at 1.3090/00 with stops reported above 1.3125/30.
Bids are noted at 1.3055-50 with stops touted below 1.3030 and more below 1.3000.

Last but not least, BOE Gov. Carney will at IMF forum but as the topic is on managing capital flows, market is expected to ignore what he has to say.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Apr 2019 03:00GMT

USD/JPY - 112.00.. The pair maintains a firm undertone in early Asian trading following Friday's resumption of recent upmove to a 4-week high of 112.09 in New York as rebound in U.S. yields together with strong performance in U.S. stocks boosted risk appetite and led to broad-based selling in the safe-haven yen.

Dlr's intra-day strength vs the yen only but weak against its other G7 peers suggests price would penetrate 2019 peak at 112.14 (March) soon where a break there would encourage for subsequent headway towards 112.67.
Bids are noted at 111.90-80 and more below with stops touted below 111.55 whilst offers are tipped at 112.10/15 with stops reported above 112.15/20.

The U.S. economic calendar is very light today with New York Fed mfg index for April being the only data due out at 12:30GMT.
We also have Chicago Fed President Evans (voter) appears on CNBC's "Squawk Box" at 12:30GMT and again at 17:00GMT where he is scheduled speak before the New York Association for Business Economics.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 16 Apr 2019 03:00GMT

GBP/USD - 1.3088.. Cable trades relatively narrowly in directionless Asian morning and inches lower in tandem with intra-day softness in the euro.

Despite Mon's erratic rise from to 1.3119 in New York morning following Brexit headlines, failure to re-test Friday's 1.3133 top triggered profit taking and price edged back to 1.3087, then 1.3079 in Asia.
As cable's rise from 1.2987 to 1.3133 is highlighted by a series of higher highs and high lows, suggesting as long as 1.3068 (Friday's New York low) holds, marginal gain towards 1.3150 is likely before prospect of decline later.
Bids are noted at 1.3075-70 with stops touted below 1.3050.
On the upside, offers are tipped at 1.3120/30 with stops above 1.3150.

Pay attention to release of U.K. jobs data at 08:30GMT where claimant counts, unemployment rate, employment change, average weekly earnings will released.

 

[AceTRaderForex]

AceTraderFx Apr 17: Intra-Day News and Views & data to be released today - USD/JPY

Intra-Day Market Moving News and Views
Update Time: 17 Apr 2019 03:00GMT

USD/JPY - 111.98.. Dlr pares initial gain to a near 4-month of 112.17 on broad-based cross unwinding in yen.

Despite jumping above March's 112.14 to 112.17 after release of Japan's trade data which showed a current account surplus, dlr soon erased intra-day gain and retreated to 111.93 around Tokyo lunch break, suggesting recent upmove has made a temp. top and range trading is seen until European open.
As long as 111.82/85 sup holds, prospect of further gain to 112.35 remains but minor res at 112.67 should cap upside. Bids are noted at 111.90-85 with stops touted below 111.80. Offers are tipped at 112.10/20 with stops reported above there.

U.S. eco. calendar is very light today with Feb wholesale trade being the only data due out.
We have Fed's Harker and Fed's Bullard speaking around New York midday.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Apr 2019 03:00GMT

USD/JPY - 111.94.. Dlr pares recent gain n remains on the back foot as intra-day retreat in U.S. yields n Asian stocks have prompted usd longs to take money off the table after the pair hit a 4-month peak at Tokyo open on Wed.

Although intra-day retreat due to broad-based cross unwinding in recent short yen positions suggests sideways trading below 112.17 would continue during European morning, as the greenback still maintains a firm undertone vs its other G4 majors, as long as 111.80/85 holds, price is en route towards next daily chart obj. at 112.67 next week.
Bids are noted at 111.90-85 with stops touted below 111.80, more stops are reported below 111.50.
Offers are tipped at 111.10/20 with stops above there.

Although Japan is opened on Easter Friday, today is the last trading day for most markets. Pay attention to release of U.S. data which may push price higher or lower, we have Markit mfg and services PMIs, business inventories and leading indicators. Atlanta Fed's President Bostic (non-voter) speaking at 16:10GMT.

 

[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 2019 03:00GMT

USD/JPY - 111.78.. The re-opening of all Asian market after a 4-day long Easter holiday for some centres (H.K. for instance) has brought volatility back in early Asian trading on Tue.

Dlr came under pretty heavy selling shortly after Tokyo open and fell from 111.97 to 111.66 due to broad-based yen buying, traders cited stops below 111.75/70 were triggered, however, dovish comments by BOJ's Maeda before the parliament (see previous update for details) contained intra-day weakness n the pair has inched higher on short covering.

Range trading is in store until European open n as the greenback remains bid vs its other G7 counterparts, the pair may later ratchet higher in European morning.
Bids are noted at 111.70-65 with stops below 111.50 whilst offers are tipped at 111.95/00 with stops above 112.20.0

U.S. will release a slew if eco. data later in the day, please refer to our EI section for details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 24 Apr 2019 03:00GMT

USD/JPY - 111.89.. The pair continues to move in familiar territory as earlier attempt to trade above the 112.00 handle failed, suggesting further sideways swings are in store before prospect of a resumption of recent upmove.

Despite yesterday's rise from Asian low at 111.66 to session highs of 112.03 due to renewed usd's strength in early New York trading, intra-day broad-based retreat in the greenback on profit taking knocked price back down to 111.76. Although buying emerged at Tokyo open and lifted price to 111.98, dlr eased ahead of Tokyo lunch break. Anyway, as dlr is expected to find buying interest on dips after the dlr index hit a 22-month high yesterday, trading the buck from long side for re-test of April's 112.17 top, then 112.40/45 is recommended.
Bids are noted at 111.80-70 with stops touted below 111.60 whilst a offers are tipped at 112.10/15 with stops reported above 112.20.

U.S. eco. calendar is very thin with MBA mortgage applications being the only data due out.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Apr 2019 03:30GMT

EUR/USD - 1.1159.. Euro bulls are licking their wounds after yesterday's selloff. Trading the euro on Wed proved to be tricky as price swung wildly in European morning before tumbling on usd's strength in New York. Despite a brief dip to 1.1195 after soft German Ifo data, price rebounded to 1.1223 before renewed selling emerged. Intra-day decline accelerated near New York midday, price penetrated previous 2019 low at 1.1177 (March) and hit a 22-month trough of 1.1141 after tripping large stops below 1.1170.

Yesterday's daily close below 1.1177 after 7 weeks of broad sideways swings bodes ill for the eruo in the coming days. The lack of a recovery in subdued Asian morning (both New Zealand and Australia markets are closed for Anzac Day holiday) suggests Medium Term downtrend would pressure the single currency and price is en route to 1.1040/50 target next week and possibly a probe at the 'psychological' 1.1000 handle. Therefore, selling euro on recovery is the way to go.
Offers have been lowered to 1.1175/85 and more above with stops above 1.1200.
Some bids (profit taking) are touted at 1.1150-40 with stops below 1.1130.

No eco. data is due out from the EZ countries, however, ECB Vice President will particpate at an event in New York at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 26 Apr 2019 03:00GMT

USD/JPY - 111.69.. Dlr pares yesterday's 'cross-inspired' decline from 112.24 (Asia) to 111.38 in New York session as traders reported liquidation of broad-based short yen positions ahead of the upcoming 10-day long Japan's Golden Week holiday which starts on Mon was the man reason for this move. Also, several media reports of a possible repeat of Jan's flash crash of a near 4-yen drop in the pair due to thin market condition during Asian trading spooked usd bulls, however, the pair rebounded in early Tokyo trading to 111.79 on bargain hunting.

As the dollar index (DXY) hit a fresh fresh 22-month high 98.322 yesterday, there is no reason why the pair should stage a reversal after climbing to a fresh 4-month peak of 112.39 on Wednesday. From a technical standpoint, as long as key daily sup at 110.85 holds, the recent series of higher higher lows n higher highs should continue especially if U.S. GDP beats estimate later today. Therefore, one should make use of present retreat to enter long usd positions in anticipation of resumption of Medium Term upmove.
Bids are noted at 111.40-30 with stops below there, more stops are touted below 110.80.
Offers are tipped at 111.75/85 with stops above 112.05, however, more selling interest (profit taking) is touted at 112.35/45.

T.G.I.F., for European and N. American traders, the U.S. will later release key Q1 GDP, Q1 core PCE and PCE and then University of Michigan consumer confidence.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 Apr 2019 03:00GMT

EUR/USD - 1.1147.. Euro pares Friday's gain in holiday-thinned Asian trading after staging a strong rebound from a fresh 22-month bottom at 1.1122 to 1.1174 on short covering due to broad-based usd's retreat.

Although said Friday's rebound suggests recent downtrend has made a temporary low and range trading is in store until European open, unless the single currency is also to close above previous 2019 trough at 1.0177 (March low, now res), then consolidation with downside bias remains for re-test of 1.1112, however, loss of recent downward momentum should limit weakness to 1.1080/90 today.
Offers are tipped at 1.1170/80 with stops above there whilst bids are noted at 1.1130-20 with stops below 1.1110.

The euro area countries will release a slew of eco. data starting with Italy's PPI, then EU's business climate, eco., industrial and services sentiment indexes n consumer confidence.
If these data come in weaker than street forecast, then one can expect another round of euro bashing to occur.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 02 May 2019 03:00GMT

USD/JPY - 111.63.. Dollar regained traction in holiday-thin Asian trading after hitting a 2-1/2 week trough of 111.05 after the Fed kept rate unchanged as widely expected, however, less dovish comments by Fed Chief J. Powell at post-FOMC presser who said recent soft inflation data was transitory and he predicted it would rise back to the 2% target (implying no rate cut will happen anytime soon) triggered active broad-based usd buying, the pair quickly rallied to session highs at 111.61 before retreating due to cross-buying in yen.

As the pair has rebounded after meeting renewed buying in Australia at 111.05 and present brief break above 111.61 suggests at least the 1st leg of correction from April's 4-month peak at 112.39 has ended and upside bias remains for stronger retracement to 111.90. However, reckon res at 112.03 would cap present rise.
Bids are noted at 111.45-35 with stops below 111.00 whilst offers are tipped at 111.70/80 and more above with stops above 112.05.

On the data front, U.S. will release weekly jobless claims, prelim. labor and productivity cost, ISM New York index, durable goods order and factory orders.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 03 May 2019 03:30GMT

USD/JPY - 111.42.. T.G.I.F. and all quiet on the Eastern front. Remember last week's media reports of possible flash crash occurrence in this holiday-thinned week due to closure of Japanese markets all this week and next as well as closure of China markets (Wed-Fri) were over-blown as flash crash only happens when it is least expected.

Back to reality, dlr's retreat from yesterday's 111.66 (Asia) high to 111.38 near New York midday due to safe-haven yen buying partly on pullback in U.S. stocks suggests range trading is in store ahead of European open or possibly until release of the blockbuster U.S. NFP. However, as the strong rebound from Wed's 2-1/2 week low at 111.05 in post-FOMC signals recent decline from April's 112.39 peak has made a low, consolidation with upside bias is in store, so buying on dips in anticipation of further gain to 111.90, then 112.17 is recommended as market is looking for a robust NFP and if M/M average earnings match 0.3% estimate, the greenback will rally for sure, however, if both readings come in below street forecast, be prepared for a stronger correction of recent usd's upmove.
Until then, bids are noted at 111.40-30 with stops below there and more stops are reported below 111.00, then below 110.80.
Offers are tipped at 111.55/65 with stops above 111.70 and more above 112.00/10.

Apart from U.S. jobs report at 12:30GMT, after that we have Markit services PMI n ISM non-mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 May 2019 04:00GMT

USD/JPY - 110.59.. Despite trading narrowly for 5 consecutive days in Asian morning last week due to closure of Japanese markets for Golden Week holiday, the greenback swung wildly in hectic Mon session due to active safe-haven yen buying following Trump's tweet late Sun to threaten tariffs on China (see early updates for details) triggered risk aversions, resulting in yen and chf buying but selloff in the commodity currencies.

Dlr gaped lower below Friday's 111.07 (New York) low to 110.61 in New Zealand n fell from 110.97 to 110.54. Although price staged a short-covering recovery to 110.84, news of China's response to consider cancelling its trade talk in Washington this week triggered another round of yen-buying, the pair hit a 5-week trough of 110.28 before recovering ahead of Asian lunch break.

Dlr's intra-day firm break of daily sup at 110.85 sup bodes ill for the pair n price may later head towards next daily chart obj. at 109.71. European traders are likely to buy the yen broadly in reaction to latest U.S./China trade tensions (key China Shanghai Composite Index currently at 2920, down over 5% !), so selling on recovery is the way to go. Order board is pretty thin, so no much to report after stops below 111.00 n 110.80 were hit.

After Fri's key U.S. jobs report, no eco. data is due out today. However, we have more Fed officials scheduled to speak starting with Chicago Fed President Evans at 10:00GMT n later Philly Fed's Harker at 13:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 May 2019 03:00GMT

EUR/USD - 1.1203.. Euro is content to move quietly in the background n let the Japanese yen take centre stage in Mon's trading.

Although the pair opened lower in New Zealand on Monday at 1.1170 and fell to session lows of 1.1161 due to selloff in eur/yen on renewed U.S./China trade tensions, price swiftly trimmed intra-day losses and rebounded to 1.1203. Euro then swang sideways in European morning and later inched higher to 1.1209 in New York afternoon.

Intra-day firmness suggests near term upmove from Friday's NFP low at 1.1135 would head to 1.1230/40 after consolidation, however, reckon last week's high at 1.1265 (Wednesday) should cap upside.
Bids are noted at 1.1180-70 with stops below 1.1160, more stops are touted below 1.1130.
Offers are tipped at 1.1215/25 n more above with some stops reported above 1.1230.

The euro area will release a slew of eco. data during European morning (see refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 May 2019 03:00GMT

USD/JPY - 110.17.. Dollar remains on the back foot in Asian trading on Wed following yesterday's intra-day fall from 110.83 (Europe) to a fresh 5-week low of 110.17 in New York due to active safe-haven yen buying as global stocks weakness (Dow closed down 1.79% at 25965) on concerns over U.S./China trade tensions shifted market into 'risk-off' mode.

Although the pair gained minor respite in subdued Australian morning, price came under renewed selling as the Nikkie opened lower (currently down over 1.5% at 21575), dlr weakened to 110.09. The lack of an intra-day short-covering rebound suggests market is keen to probe for dlr's support n 110.00 is the immediate downside target, therefore, selling dlr on recovery is the way to go.
Offers are tipped at 110.30/40 and more above with stops above 110.60.
A mixture of bids and stops is touted above n below 110.00 respectively.

On the data front, the only eco. data from the U.S. is MBA mortgage applications, so traders are expected to take cue from intra-day price swings in U.S. stocks. Fed Governor Brainard will be speaking at an event at 12:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 May 2019 03:00GMT

USD/JPY - 109.95.. Despite dlr's brief drop below yesterday's low at 109.91 to a fresh 5-week trough of 109.84 following hawkish rhetoric from Trump that China broke the trade deal, price quickly pared intra-day losses market realised his remark was made in front of a crowd of supporters in Florida.

Dlr then showed muted reaction to comments from BOJ Gov. Kuroda who is presenting to the Japanese Diet BOJ's Semiannual Report on Currency and Monetary Control. Having said that, the lack of an intra-day strong bounce suggests downside bias remains.
Offers are tipped at 110.15/25 with stops above 110.35 whilst bids are noted at 109.80-70 with stops below there.

U.S. will release a slew of eco. data (pls refer to our EI section for details). Pay attention to speech by Fed Chair J. Powell who is giving opening remarks at a Fed conference in Washington D.C. ay 12:30GMT, then later at 18:15GMT, Chicago Fed President Evans will speak at a luncheon conference in Washington D.C. also.

 

[AceTRaderForex]

AceTraderFx May 10: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 10 May 2019 03:00GMT

EUR/USD - 1.1200.. Despite gyrating above n then below the 1.1200 handle in last 3 sessions this week, the single currency rallied above Tuesday's 1.1218 high in early New York trading as intra-day selloff in U.S. stocks as well as European equities led to broad-based usd's weakness, the single currency jumped to 1.1251 after tripping stops above 1.1230 but price soon pared intra-day gain as recovery in the Dow n S&P 500 boosted risk sentiment, causing euro to retreat to 1.1210 at New York close/Australia.

As euro has finally found a firm footing well above 1.1200, suggesting consolidation with upside bias remains and stops above 1.1265 are now in focus.
Bids are noted at 1.1215-05 with stops touted below 1.1200, more below 1.1960.
Offers are tipped at 1.1250/60 with stops above 1.1265/70.

On the eco. data front, we have a slew of data from euro area countries plus a number of ECB officials speaking during the day (see EI section for details). The euro area will release a slew of eco. data during European morning (see refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 May 2019 03:00GMT

USD/JPY - 109.95.. Despite dlr's brief drop below yesterday's low at 109.91 to a fresh 5-week trough of 109.84 following hawkish rhetoric from Trump that China broke the trade deal, price quickly pared intra-day losses market realised his remark was made in front of a crowd of supporters in Florida.

Dlr then showed muted reaction to comments from BOJ Gov. Kuroda who is presenting to the Japanese Diet BOJ's Semiannual Report on Currency and Monetary Control. Having said that, the lack of an intra-day strg bounce suggests downside bias remains.
Offers are tipped at 110.15/25 with stops above 110.35 whilst bids are noted at 109.80-70 with stops below there.

U.S. will release a slew of eco. data (pls refer to our EI section for details). Pay attention to speech by Fed Chair J. Powell who is giving opening remarks at a Fed conference in Washington D.C. ay 12:30GMT, then later at 18:15GMT, Chicago Fed President Evans will speak at a luncheon conference in Washington D.C. also.