AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Mar 29: Intra-Day Market Moving News and Views -EUR/GBP

Intra-Day Market Moving News and Views
29 Mar 2017 02:43GMT

EUR/GBP - 0.8715.. Sterling tumbled broadly in post -New York close after U.K. PM May signed off formal letter to trigger Brexit. Cable easily penetrated Tuesday's New York's 1.2442 low to 1.2377 at Asian open before staging a short covering rebound.

Reuters reported earlier Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.
On the eve of Brexit, May, 60, has one of the toughest jobs of any recent British prime minister: holding Britain together in the face of renewed Scottish independence demands, while conducting arduous talks with 27 other EU states on finance, trade, security and a host of other complex issues.
The outcome of the negotiations will shape the future of Britain's $2.6 trillion economy, the world's fifth biggest, and determine whether London can keep its place as one of the top two global financial centres.

For the EU, already reeling from successive crises over debt and refugees, the loss of Britain is the biggest blow yet to 60 years of efforts to forge European unity in the wake of two devastating world wars.
Its leaders say they do not want to punish Britain. But with nationalist, anti-EU parties on the rise across the bloc, they cannot afford to give London generous terms that might encourage other member states to follow its example and break away.

Within 48 hours of reading the letter, Tusk will send the 27 other states draft negotiating guidelines. He will outline his views in Malta, where from Wednesday he will be attending a congress of centre-right leaders. Ambassadors of the 27 will then meet in Brussels to discuss Tusk's draft.

The course of the Brexit talks is uncertain.
May has promised to seek the greatest possible access to European markets but said Britain will aim to establish its own free trade deals with countries beyond Europe, and impose limits on immigration from the continent.

 

[AceTRaderForex]

AceTraderFx Mar 30: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
30 Mar 2017 03:37GMT

USD/JPY - 111.32.. Dlr continued this week's ascent from Monday's fresh 4-month trough at 110.11 to 111.43 in Asian trading above penetrating yesterday's 111.32 high on renewed cross-selling in yen as well as continued broad-based USD strength vs G4 currencies.
Traders cited mildly hawkish comments by 3 Fed officials (Evans, Rosengren n Williams) in New York session Wenesday gave them reason to buy the greenback, yesterday's rebound in U.S. treasury yields also supported the pair in New York trading.

Pay attention to release of a slew important U.S. eco. data later in the day starting with GDP , core PCE and weekly jobless claims, all due out at 12:30GMT.
Fedspeak continues today in the order of Fed's Mester, Fed's Kaplan, Fed's Williams n Fed's Dudley.
So USD may receive another shot in the arm if some of them suggests we may get 3 more rate hikes instead of 2 in 2017.

Bids have been raised to 11.10-00 n more below with stops below 110.70. Some offers are tipped at 111.45/55 with stops above 111.60, more stops are touted above 112.00.

 

[AceTRaderForex]

AceTraderFx Mar 31: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
31 Mar 2017 03:08GMT

USD/JPY - ..... Dlr continues its recent winning streak and climbed above Thursday's 111.94 top to a 1-week high of 112.15 today after Tokyo open as renewed cross-selling in yen due partly to higher open in the Nikkie (N225 is currently up 117 points at 19,180), suggesting price set to make further gain due to broad-based USD strength plus rebound in U.S. yields (benchmark 10-year yield is at 2.4161%, up from Monday's low at 2.348%) after release of upbeat U.S. data this week.
Bids are noted at 111.80-70 and more below with stops below 111.50.
Some offers are tipped at 112.15/25 with stops above 111.30.

Pay attention to U.S. personal income, personal consumption expenditure, Chicago PMI and consumer confidence later in the day.
We also have Fed's Kashkari and Bullard speaking during New York morning session.

 

[AceTRaderForex]

AceTraderFx Apr 03: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
03 Apr 2017 03:06GMT

USD/JPY - 111.34.. Dlr finally pares intra-day loss after falling from Friday's 1-week high of 112.20 (Asia) to 110.13 in Asia after tripping light stops below Friday's 111.25 low (New York) on renewed cross-buying in yen.
However, buying interest emerged n lifted the pair to 111.39/40.

Looks like a temp. low has been made and consolidation with mild upside bias is seen ahead of European open.
Bids are noted at 1112.25-15 and more below with stops reported below 110.90.
Offers are tipped at 111.45/55 with stops above there.
Today if PMU day, U.S. will kick off with Markit mfg PMI, then ISD-mfg PMI, and then construction spending.

Three Fed officials will be speaking later today, Fed Dudley at 14:30GMT (his 2 more rate hike forecasts in 2017 knocked dlr lower in New York on Friday, then Philly Fed President Harker (voter) at 19:00GMT.
At 22:00GMT (Tue's Australian morning session), Richmond Fed President (non-voter) will speak in Lexington, Virginia.

 

[AceTRaderForex]

AceTraderFx Apr 05: Intra-Day Market Moving News and Views - USD/JPY

Intra-Day Market Moving News and Views
05 Apr 2017 03:10GMT

USD/JPY - 110.73.. Dlr gains respite in Wednesday trading after having fallen sharply for 2 consecutive days this week. Despite yesterday's weakness to 110.27 at New York open, release of narrowing U.S. trade deficit triggered intra-day short covering in the greenback, price rebounded to 110.81 on broad-based yen selling, price then briefly hit a high of 110.91 ahead of Tokyo open begre retreating.

Looks like price has hit a temp. low and range trading is in store, however, reported offer at 110.90/95 should put a lid on the upside.
Bids are noted at 110.65-60 and more below with large stops touted below 110.00.

Market's focus is FOMC minutes later in the day, ahead of that, U.S. will release a slew of eco. data starting with MBA mortgage applications, then key ADP private payrolls, Markit services PMI n ISM non-mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Apr 2017 02:25GMT

USD/JPY - 110.54.. Dlr remains on the back foot in choppy Tokyo trading on Thursday after yesterday's roller-coaster ride, whipping both USD bears and bulls (in that order).

Despite finding renewed buying interest at 110.54 in Asia and climbed on renewed cross-selling in yen, price then rallied to 111.44 after key U.S. ADP private jobs report came in sharply higher than street forecast.
Dlr later climbed to session highs of 111.46 after release of Fed minutes but only to tumble to 110.57 on broad-based long USD liquidation.
Price remained under pressure in Australia and hit intra-day low of 110.29 in Asia.

Although traders cited yesterday's USD weakness post Fed minutes New York session as risk-off action ahead of summit meeting between U.S. President Trump and China's President Xi later today as well as profit taking ahead of Friday's U.S. jobs report, the safe-haven Swiss franc weakened against the euro.
Anyway, intra-day dlr weakness suggests market is now keen to re-test March's 4-month low at 110.11 and stops below 110.00 are now in focus.
Offers are tipped at 110.60/70 and more at 110.90/00 with some stops above there.

U.S. initial weekly jobless claims is the only data due out for today n S. Francisco Fed President Williams will be speaking later at 13:30GMT.

 

[AceTRaderForex]

AceTraderFx Apr 07: Intra-Day Market Moving News and Views - USD/JPY

Intra-Day Market Moving News and Views
07 Apr 2017 03:02GMT

USD/JPY - 110.46.. Just when you think Asian market will be quiet ahead of release of key U.S. jobs data later today, a state of brief pandemonium occurred when news of U.S. missile strike against Syria came out.
The pair fell from intra-day high of 111.00 to as low as 110.14 as traders bought the Japanese yen broadly vs usd, eur, gbp, aud and nzd on risk aversion.

Price later recovered on short covering ahead of Tokyo lunch break after 59 U.S. tomahawk missiles were fired at Syrian military base and a brief press conference by U.S. Trump on his decision to launch the attack.

Looks like range trading will take over as market awaits reaction from Europe.
Some offers are tipped at 110.50/60 with stops above 110.75, more selling interest is noted at 110.09/00 with stops above 111.15.
Initial bids are reported at 1110.15-00 area with stops reported below 110.00.

Because of current 'geo-political' tension in the Middle East, U.S. jobs report may have a lesser impact as investors are expected to take risk off the table ahead of the weekend as situation on Syria may worsen if Russia intervenes, so it is best not to hold long dlr/yen position over the w/end even though U.S. payrolls increase is higher than street forecast of 180K.

 

[AceTRaderForex]

AceTraderFx Apr 10: Intra-Day Market Moving News and Views - USD/JPY

Intra-Day Market Moving News and Views
10 Apr 2017 02:01GMT

USD/JPY - 111.43.. Dlr extended Friday's rally in post-NFP after New York Fed Dudley's hawkish comments and climbed above Friday's 111.36 high to 111.58 after meeting renewed buying earlier at 111.02 in New Zealand.
As price has completely shrugged of Friday's U.S. missile strike on Syria and downbeat U.S. payrolls (caused by severe snow storms) together with rising U.S. Treasury yields (currently 2.3876%, up from Friday's close of 2.373%) and steady performance in the Nikkie (currently up 67 points at 18664), buying dlr on dips is favoured due to return of risk appetite on broad-based gain the the greenback.

Bids are noted at 112.20 and more at 111.00 with stops below there, offers are tipped at 111.70/75 with stops above 112.00.

After speaking on Bloomberg TV earlier, St. Louis Fed President James Bullard (non-voter in 2017 FOMC) will make a speech in Melbourne at 03:05GMT.
Later today, fed Chia Yellen will participate at a forum organised by University of Michigan at 20:10GMT.

 

[AceTRaderForex]

AceTraderFx Apr 10: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
10 Apr 2017 10:10GMT

GBP/USD - 1.2399... Despite weakening to 1.2366 in Australia, the British pound found renewed buying there n rose to 1.2406 in European morning due partly to cross-buying of sterling especially vs euro n continues to trade with a firm bias.

Orderbook remains thin in the absence of major economic data today with bids now seen at 1.2350/60 n more below at 1.2310/20 with stops building up below there whilst offers are noted at 1.2460/70, suggesting further choppy trading would be seen ahead of New York open.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
11 Apr 2017 02:15GMT

USD/JPY - ...... In stark contrast to yesterday's firmness in Asia, dlr remains under pressure after intra-day break of New York low at 110.81 to 110.62 at Asian open due to renewed broad-based yen buying.
However, modest buying interest by Japanese names (importers) contained weakness, suggesting range trading is in store.

Traders cited active yen buying in New York morning just ahead of European closing due partly to falling U.S. Treasury yields and renewed geo-political tensions were the causes of dlr's weakness n more choppy sideways swings are expected.
Offers are tipped at 110.90/00 with stops above 111.20, bids are noted at 110.65-60 with stops below there, however, there is market report of good buying interest at 110.20/00 area.

U.S. economic calendar is very light today with Redbook retail sales bring the only data due out.
Later in the day, Minneapolis Fed President Neel Kashkari (voter) will be speaking at 17:45GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
12 Apr 2017 03:07GMT

USD/JPY - 109.45.. Dlr remains on the back foot in Asian trading, hovering just above intra-day fresh 4-1/2 month trough at 109.35.
Despite trading narrowly at Tokyo after yesterday's selloff below psychological 110.00 level to 109.61 in New York, then 109.53 in Australia as renewed geopolitical tensions plus falling U.S. Treasury yields have triggered active yen buying on risk aversion.

The pair fell again when Reuters reported Japan's navy plans joint drills with the U.S. Navy's Carl Vinson carrier strike group and are heading towards the Korean Peninsular.
Looks like price will move lower in Europe when European traders react negatively to the news, so selling dlr on recovery is the way to go.
Offers are tipped at 109.75/85 and more above with stops above 110.15.
Some bids are noted at 109.35/25 with stops below 109.00.

U.S. will release MBA mortgage applications, import n export prices and U.S. budget. Dallas Fed President Kaplan (voter) will be speaking at 14:00GMT.

 

[AceTRaderForex]

AceTraderFx Apr 13: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
13 Apr 2017 03:17GMT

EUR/USD - 1.0672.. Just when euro bears thought they had the upper hand by pressuring the single currency lower in New York session and pushing price from 1.0622 to 1.0590, USD-bearish comments by U.S. Trump sparking off a wave of broad-based USD bashing, the pair rallied strongly to 1.0675 in relatively thin New York afternoon trade n price inched higher to 1.0678 as renewed dlr/yen weakness and rally in the Aussie triggered more USD selling in Asia.

There is a slew of eco. data coming out during European morning starting with German inflation data, the same from France and then Italy.

Although yesterday's rally confirms recent downtrend has made a temp. low at Monday's fresh 4-week trough of 1.0571 and consolidation with near term upside bias with more liquidation of recent long USD (or short eur/usd) positions ahead of Friday's long Easter weekend holiday, as U.S. markets are open for business as usual and will release key U.S. retail sales and CPI data, if these data come out stronger than street forecast, then beware of another selloff esp. vs EUR in thin New York session.

For now, buying euro on dips is still preferred, bids are noted at 1.0660-50 with stops below 1.0630, some offers are tipped at 1.0680/90 with stops touted above 1.0700/05.

 

[AceTRaderForex]

AceTraderFx Apr 18: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
18 Apr 2017 04:26GMT

USD/JPY - ..... Dlr pares Monday's impressive gain from a 5-month low of 108.13 (Asia) to 109.05 in New York session after U.S. Treasury Secretary Mnuchin reiterated his view that a strong usd over the long term is positive for the U.S.

Short-term specs bot the greenback in Australia and price hit intra-day high of 109.22 at Tokyo open before retreating. Looks like a temp. top has been made n consolidation would continue until European open.
As the Nikkie is in positive territory and U.S. Treasury yields has rebounded in New York session yesterday after recent decline, intra-day upside bias remains for further gain later in the day.
Bids are noted at 108.90-70 with stops below 108.60, offers are tipped at 109.20/30 with stops above 109.40.

U.S. will release housing starts, building permits, Redbook retail sales, industrial production, capacity utilisation and manf. output later in the day. Kansas City Fed President Esther George (non voter) will speak at 13:00GMT.

 

[AceTRaderForex]

AceTraderFx Apr 18: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
19 Apr 2017 03:10GMT

EUR/USD - 1.0720.. Euro became a legitimate beneficiary of Tuesday's spectacular ascent in cable which led to broad-based usd weakness.
Despite inching higher at European midday due to intra-day active cross-selling in eur/gbp, sellers capitulated when euro rallied to 1.0736 later in New York after tripping stops above 1.0680 n then 1.0700.

Intra-day pullback suggests range trading below 1.0736 would be seen until European open and buying the pair on dips due to anticipated usd weakness is favoured.
Bids are noted at 1.0710-00 and more below, some offers are tipped at 1.0730/40 with stops above there.

Euro area will release a slew of eco. data starting with Italy's trade bal., EU CPI, Italy's wholesale price index n EU trade balance. ECB's Hanson will speak at 08:00GMT, then ECB's Coeure n Prate will be speaking at an event in New York at 12:00GMT n 14:00GMT respectively.

 

[AceTRaderForex]

AceTraderFx Apr 20: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
20 Apr 2017 02:18GMT

USD/JPY - 109.00.. The pair swung fairly wildly in Wednesday trading. Despite rising steadily from 108.38 (Australia) on continued cross-selling in yen in Asia on then dlr-supportive comments by U.S. Treasury Secretary Mnuchin during European morning and then gain to session highs of 109.18 in New York morning, price fell back to 108.69/70 in New York afternoon on cross unwinding in yen.

Today, dlr has ratcheted higher in Asia as modest gain in the Nikkie plus rebound in U.S. Treasury yields (benchmark 10-year yield has risen from Tuesday's 5-month low of 2.165% to 2.214% today) have boosted risk appetite, suggesting choppy sideways swings with near term upside bias remains.

Bids are noted at 108.80-70 with some stops below there, more buying interest is reported at 108.40-30.
Offers are tipped at 109.15/25 with stops touted above 109.40.

U.S. will release weekly jobless claims, Philly Fed business survey n leading indicators. Fed governor Powell will speak at a financial forum at 12:00GMT.

 

[AceTRaderForex]

AceTraderFx Apr 21: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
21 Apr 2017 01:05GMT

USD/JPY - ..... Dlr maintains a firm undertone after yesterday's cross-inspired rally from 108.72 (Europe) to 109.48 in New York n as intra-day weakness in eur/usd has led to broad-based usd strength, the pair may edge higher as o/n rally rally in the Dow ( DJI close up 174 points at 20578 ) and rebound in U.S. Treasury yields have boosted risk sentiment.

Bids are noted at 109.10-00 and more below with stops reported below 108.70.
Offers are tipped at 109.40/50 with stops above there.
However, more selling interest is noted at 109.80/90 with stops above 110.00.

U.S. will release Markey mfg and services PMIs and existing home sales later today.
G20 FinMins and central bank governors will start a 2-day meeting in Washington.

 

[AceTRaderForex]

AceTraderFx Apr 24: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
24 Apr 2017 02:17GMT

EUR/USD - 1.0831.. To call Monday's market price action in early New Zealand trading on the G7 currencies 'pandemonium' is rather appropriate as expected (according to earlier poll results) win by France's centrist Macron in the 1st round of French Presidential election triggered broad-based short covering buying in the single currency triggered a gap-up open in euro.

Price opened around 1.0900 and climbed to a 5-month peak of 1.0939 (Reuters) but only to come off steadily lower in Australia, then in Asian morning, suggesting the single currency is vulnerable to more selling as initial brief short-covering buying is over.

Order book is obviously very thin as most of recently placed stops above 1.0900/10 has been executed, Asian traders have been short-term sellers but market is look to European traders for their reaction, so do not be surprised if euro ratchets back down to 1.0683 (Friday low) in the next day of two.

The only eco. data due out in the euro area is the important German Ifo business sentiment index, street forecast for April to come in at 112.5 vs previous reading of 112.3.

 

[AceTRaderForex]

AceTraderFx Apr 25: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
25 Apr 2017 02:13GMT

USD/JPY - 109.98.. Although dlr met renewed selling at 110.34 at New York open and fell to session lows of 109.66 near Monday's close on cross-buying in yen despite broad-based rally in global stocks (Dow closed up 216 points at 20763) and some cited retreat in U.S. Treasury yields as possible reason.

The pair slipped to intra-day low of 109.60 ahead of Asian open (financial markets in New Zealand and Australia are closed for Anzac Day holiday) before rebounding to 110.08 in Asia, suggesting pullback from yesterday's 1-week high at 110.61 (New Zealand) has made a low and range trading is in store.
As indicated in previous update, pay attention on breaking news of any military activities (missile testing) by North Korea as today is the 85th anniversary of the Korean People's Army.

Bids are noted at 109.70-60 with stops below there, offers are tipped at 110.25/35 with stops above there.

U.S. will release of a slew of eco. data starting with Redbook retal sales, Caseshiller home price, consumer confidence, new home sales and Richmond Fed mfg index.

 

[AceTRaderForex]

AceTraderFx Apr 26: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
26 Apr 2017 04:49GMT

USD/JPY - ..... Dlr stands tall in active trading in Asia on Wed following yesterday's spectacular rally from 109.60 n then break of Mon's 110.61 high to a 2-week peak of 111.19 in New York as broad-based rally in global stocks and rising U.S. Treasury yields had boosted risk appetite.

The pair initially dipped to 110.97 in Australia b4 rising again at Tokyo open, price climbed to 111.39 after tripping lights stops above 111.20 b4 retreating. Looks like range trading is in store until European open and with Asian bourses are all in the black n benchmark U.S. 10-year yield trading slightly above yesterday's high (currently at 2.3376%), buying dlr on dips is the way to go.

Bids are noted at 111.00/110.90 n more below with stops below 110.60.
Offers are tipped at 111.30/40 n more above with stops reported above 111.60.

U.S. eco. calendar is pretty light today with MBA mortgage applications n building permits being the only data due out. Pay attention to White House briefing on N. Korea to the Senate at 19:00GMT.

 

[AceTRaderForex]

AceTraderFx Apr 27: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day MarMoving News and Views
27 Apr 2017 05:28GMT

USD/JPY - 111.21.. Dlr pares intra-day losses in NEW YORK session after yesterday's dlr buying in expectation of official unveiling of Trump's tax plan turned to broad-based selling as the plan lacked specific details, the pair fell from a 3-week peak of 111.77 to as low as 110.88.
However, short covering ahead of lifted price to 111.41 in early Tokyo trading.

As the pair has shown muted reaction to BoJ's unchanged policy decision, range trading below said Wed's 111.77 high is expected to continue as market awaits the usual BoJ Gov. Kuroda's press conference at 06:30GMT.

Offers are tipped at 111.40/45 and more above with stops above 111.80.
Initial bids are noted at 111.00-110.90 with stops below 110.80.

After BoJ's press conference, pay attention to release of a slew of U.S. data starting with initial jobless claims, durable goods orders, wholesale inventories n pending home sales.