AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Aug 16: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
16 Aug 2017 03:25GMT


EUR/USD - 1.1736.. Euro pared yesterday's losses after briefly falling one tick below last week's low at 1.1689 to 1.1688 following robust U.S. retail sales data, however, intra-day fall proved to be short lived as euro quickly bounced on broad-based usd's retreat.
The pair rebounded to 1.1743 in New York afternoon and then inched higher to 1.1746 at Asian morning, suggesting a temp. low has been made and range trading is in store in Europe.

Offers are tipped at 1.1745/55 with stops above 1.1770, a mixture of selling interest and stops is touted at 1.1790/00.
Bids are noted at 1.1720-00 with stops below 1.1680.

Today is GDP day and market may take pay attention to the preliminary EU GDP at 09:00GMT, before that, Italy will release Q2 GDP at 08:00GMT.

 

[AceTRaderForex]

AceTraderFx Aug 17: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
17 Aug 2017 03:25GMT

USD/JPY - 109.92.. The pair remained on the back foot in hectic Asian trading following yesterday's intra-day selloff which began in early New York afternoon when Trump announced he was dismantling the manufacturing council, soon afterward, another strategic and advisory group was also disbanded. Dollar's intra-day fall continued after release of dovish Fed minutes and hit session lows o 110.04 after tripping stops below 110.40.

Despite initial calmness in Australia earlier Thur, sellers emerged n knocked price below 110.00, dlr fell to 109.67 after triggered more selloff stops along the way. Intra-day short covering rebound ahead of Tokyo lunch session suggests range trading is in store until European open and the greenback is likely to face another round of selling from European traders, selling the pair on recovery is therefore favoured.
Offers are tipped at 110.00 and more at 110.20/25 with stops above 110.40.
Some bids are noted at 109.70-60 with stops below 109.40.

U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey, capacity utilisation, industral n manufacturing output n leading indicators.
Last but not least, Dallas Fed President Kaplan (voter) will participate in a moderated Q&A session at the "Dialogue with the Dallas Fed" at 17:00GMT, then Minneapolis Fed President Kashkari (voter) will participate in a moderated Q&A session at 17:45 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
18 Aug 2017 03:05GMT

EUR/USD - 1.1730.. Trading the single currency on Thursday proved to be tricky (also costly for some too). Although price extended previous day's gain to 1.1790 in Asia, the pair came under broadly based selling in European morning ahead of release of ECB minutes and briefly tanked to a 3-week trough of 1.1663 after minutes of its last policy meeting in July showed policymakers warning about a possible market overshoot in the euro after 6 months of gains, however, market rumour of resignation of U.S. Cohn knocked the usd broadly n lifted euro back up to 1.1753.

Although euro ratcheted lower on renewed selling on cross play due to sage haven buying of yen n chf in Australia, buying interest at 1.1709 emerged ahead of Asian open quickly lifted euro, suggesting consolidation with upside bias is in store until European open.
Bids are noted at 1.1710-00 n more below with stops touted below 1.1680.
Offers re tipped at 1.1750/55 n more above with stops reported above 1.1800.

On the eco. data front, Germany will release PPI at 06:00GMT, then EU current account at 08:00GMT n finally construction output at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
18 Aug 2017 03:05GMT

EUR/USD - 1.1730.. Trading the single currency on Thursday proved to be tricky (also costly for some too). Although price extended previous day's gain to 1.1790 in Asia, the pair came under broadly based selling in European morning ahead of release of ECB minutes and briefly tanked to a 3-week trough of 1.1663 after minutes of its last policy meeting in July showed policymakers warning about a possible market overshoot in the euro after 6 months of gains, however, market rumour of resignation of U.S. Cohn knocked the usd broadly n lifted euro back up to 1.1753.

Although euro ratcheted lower on renewed selling on cross play due to sage haven buying of yen n chf in Australia, buying interest at 1.1709 emerged ahead of Asian open quickly lifted euro, suggesting consolidation with upside bias is in store until European open.
Bids are noted at 1.1710-00 n more below with stops touted below 1.1680.
Offers re tipped at 1.1750/55 n more above with stops reported above 1.1800.

On the eco. data front, Germany will release PPI at 06:00GMT, then EU current account at 08:00GMT n finally construction output at 09:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
22 Aug 2017 03:05GMT

USD/JPY - 109.22.. Although dlr's rally from Friday's 4-month trough of 108.61 to 109.59 in New York morning proved to be a dead cat bounce as price came under renewed selling at 109.42 at Monday open and fell all the way back to 108.64 in New York morning on renewed safe-haven buying of yen, renewed buying interest above 108.61 lifted price to 109.01 near New York close.

As dlr's initial sideways swings ahead of Asian open ended with price rising in Tokyo trading on renewed yen-selling, suggesting further choppy trading above 108.61 low would continue at least ahead of release of a slew of U.S. eco. data later in the day.
Bids are noted at 108.90-80 n more below with stops reported below 108.60.
Some offers are tipped at 109.30/40 n more above with stops above 109.60, therefore, range trading should prevail.

U.S. will release Redbook retail sales, monthly home price and then Richmond Fed mfg index.

 

[AceTRaderForex]

AceTraderFx Aug 24: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
24 Aug 2017 02:25GMT

USD/JPY - 109.18.. Dlr gained respite in Asian trading after yesterday's selloff from 109.83 (Asia) to as low as 108.93 in New York as European and New York traders reacted negatively to Trump's govt. shutdown threat made earlier in Asian morning.

Although short-term specs gave the pair renewed bashing at New York close and knocked price to 108.85 in Australia after tripping stops below 108.90, lack of follow-through selling and some buying by Japanese names (importers) quickly lifted dlr and price rebounded to 109.23., suggesting choppy sideways swings would be seen.
Bids are noted at 109.00-108.90 and offers are tipped at 109.30/35 with stops above 109.60.

U.S. will release weekly jobless claims, building permits, exiting home sales n Kansas City Fed mfg index.
Today is the start of the 3-day Jackson Hole Symposium but key speakers will start delivering speeches on Friday and Saturday.

 

[AceTRaderForex]

AceTraderFx Aug 25: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
25 Aug 2017 03:25GMT

EUR/USD - 1.1800.. Euro is in holding pattern, meaning traders are "battening down the hatches" ahead of ECB Draghi's speech 'later' in the day at 19:00GMT, so most European traders can only react when they return to their dealing desks on Monday.

Despite yesterday's relatively narrow move, buyers and sellers were evenly balanced as positions have been taken and market is obviously long, so unless Draghi expresses ECB's concern on recent euro strength, euro will ratchet higher, however, in the unlikely event he does, then all hell breaks lose for the euro bulls n price may tumble back towards last week's low at 1.1683.
Offers are tipped at 1.1810/20 with stops above 1.1850.
Bids are noted at 1.1790-80 with some stops below there, more stops are reported below 1.1730.

Pay attention to release of key German Ifo data at 09:00GMT, b4 that, we have Germany's import and export prices, GDP and France's consumer confidence.

 

[AceTRaderForex]

AceTraderFx Aug 28: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
28 Aug 2017 02:20GMT

EUR/USD - 1.1926.. Although euro opened flat in NZ on Mon following Fri's spectacular rally which began after Fed Yellen's JH script was released which did not mention monetary policy, this sent the greenback tanking broadly in New York morning n helped euro rise from 1.1786 to 1.1890, price then jumped above previous Aug's 1.1909 high to 1.1941 when ECB's Draghi in his much-awaited JH speech, did not make any reference to recent euro's strength.
The single currency climbed to a fresh 30-month peak of 1.1963 in New Zealand due to gap-up open in cable, however, price quickly erased intra-day gain and retreated to 1.1922 in Asia as traders are not keen to take the euro higher on Friday's sharp rise.

Euro's intra-day pullback from 1.1963 suggests consolidation is in store until European open and if price is trading below Friday's 1.1941 high, European traders may well buy for another rise but strong gain is unlikely to be seen.
Bids are noted at 1.1925/05 area with stops below 1.1890.
Offers are tipped at 1.1950/60 with stops above 1.1965, there is market chatter of option barrier at 1.2000, so this level may be a tough nut to crack.

EZ calendar is pretty light with Italy's consumer n business confidence and EU M3 money supply being the only eco. data due out during European morning.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
29 Aug 2017 02:20GMT

USD/JPY - 108.73.. The Japanese yen took centre stage in hectic Asian trading as tension on the Korean Peninsular is brewing after North Korean contentious launch of another missile (following last Sat's similar action) early this morning which flew above Japan's northern territory, short-term specs quickly sold the dlr as well as buying the Japanese yen broadly in thin Australian trading, the pair tumbled from 109.26 to as low as 108.34 after tripping a series of stops below 109.00, then 108.80 n 108.60.

Although dlr regained composure n bounced back to 108.95 on short covering ahead of Tokyo open, the lack of further follow-through buying on bargain hunting by Japanese names (importers) as well as falling U.S. Treasury yields (benchmark 10-year yield hit a near 2-month low of 2.1113%) and Nikkie dropping to a 4-month low today suggests intra-day bearish bias remains and there is market chatter of more stops building below 2017 bottom at 108.13.

Therefore, selling dlr on recovery is the way to go, offers are tipped at 108.90/00 with stops above 109.05. More selling interest is noted at 109.20/30 with stops above 109.45.
Some bids are noted at 109.60-50 with stops below 108.30 and more below 108.10.

Later in the day, U.S. will release Redbook sales, CaseShiller home price n then consumer confidence.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
29 Aug 2017 8:20GMT

GBP/USD - 1.2962... The British pound continued to ratchet higher after penetrating yesterday's New Zealand high at 1.2946 in Europe and hit a session high at 1.2979 in European morning, however, lack of follow-through buying triggered profit-taking and price retreated to 1.2960.

Market focus is on the talks between UK Brexit Min Davis n EU negotiator Barnier.
Price is likely to be influenced by headlines coming out of this meeting, hence one should keep a keen eye on the eur/gbp cross.

Bids are now lowered to 1.2920/30 n more below at 1.2900/10 with stops building up below there whilst initial offers are noted at 1.3010/20, suggesting further choppy trading is envisaged.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
30 Aug 2017 3:00GMT

USD/JPY - 109.78.. What a difference a day makes. The greenback was hovering near a fresh 4-month low in Asia 24 hours ago n is currently trading near Asian 1-week high of 109.92.

What a difference a day makes. The greenback was hovering near a fresh 4-month low in Asia 24 hours ago n is currently trading near Asian 1-week high of 109.92.

Despite Tuesday's safe-haven buying of yen n the Swiss franc, dlr rallied near NY midday as U.S. stocks rebounded U.S. yields started to move hourly from 10-month lows, the pair then climbed strongly to 109.89 after tripping stops above 109.00 and 109.45, suggesting recent decline has indeed formed a temp. low there n choppy sideways trading above there would be seen ahead of Friday's key U.S. jobs report.

Bids are noted at 109.55-45 and more below with stops below 109.00.
Offers are tipped at 109.85/95 with stops above 110.00. Therefore, buying dlr on dips is favoured but profit should be taken on next upmove as geopolitical risk on the Korean Peninsular has not gone away.

Pay attention to slews of U.S. data later today starting with ADP private payrolls, Q2 GDP n core PCE. Fed's Powell (Board of Governors - voter) will speak at 13:15GMT.

 

[AceTRaderForex]

AceTraderFx Aug 31: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
31 Aug 2017 2:30GMT

EUR/USD - 1.1878.. Euro remains on the back foot in Asian trading n just fell below o/n NY low of 1.1881 to 1.1872 as intra-day rally in dlr/yen triggered renewed broad-based usd strength.

Well, despite Tuesday's jump above the 1.2000 mark to a fresh 30-month peak of 1.2070, euro has become victim of its own success as the move occurred in the absence of solid fundamental factor, so profit taking quickly emerged and knocked price lower, the daily close below 1.2000 on Tue was the warning light of a short-term 'reversal' of recent uptrend.

Although intra-day weakness may squeeze out some weak n perhaps late euro longs, further sharp fall is unlikely ahead of a slew of EZ data.
Bids are noted at 1.1870-60 with some stops below there.
Offers are tipped at 1.1900/10 and more above with stops above 1.1950.

Euro area countries will relesse German retail sales, France's PPI and CPI, Germany's unemployment rate, the same from Italy and the EU, then EU and Italy's CPI.

 

[AceTRaderForex]

AceTraderFx Sept 01: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
01 Sept 2017 3:00GMT

EUR/USD - 1.1909.. The single currency regained traction in Asia on Friday after a 'roller-coaster' session on Thursday. Although short covering lifted price from 1.1868 to 1.1906 in European morning, euro tumbled broadly n hit session lows of 1.1824 at NY open after sources told Reuters some ECB members were concerned by the recent strength of the euro n the central bank is highly unlikely to discuss tapering at its next Sept. meeting.

However, release of soft U.S. core PCE data (a key inflation measure by the Fed) led to broad-based decline in the usd as well as U.S. yields, this triggered a strong short covering rebound n price later rallied back to 1.1912 near the close, then marginally higher to 1.1923 in Australia before easing.
Well, looks like the decline from Tuesday's 30-month peak at 1.2070 has hit a bottom and range trading would continue ahead of U.S. NFP, however, it is our view euro's Medium Term uptrend has made a temp. top, current rebound is a retracement and if U.S. jobs report (NFP and ave. wage growth) is upbeat, usd may stage another rally.

For now, bids are noted art 1.1890-80 and more at 1.1850/40 with stops below 1.1820.
Offers are tipped at 1.1920/30 and more above there with stops above 1.1950.

Today is PMI day, Italy will release Markei mfg PMI, then the same from France, Germany n Italy as as as Italy's GDP. ECB board member Nowotny will participate in a panel discussion in Alpbach, Austria at 06:30GMT, then ECB Vice-President Constancio will give a speech at a forum in Cernobbio, Italy at 09:15 GMT.

 

[AceTRaderForex]

AceTraderFx Sept 04: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
04 Sept 2017 1:35GMT

USD/JPY - 109.72.. Tension runs high in the North Korean Peninsular following Sun's nuclear test by N. Korea, causing the dlr open sharply lower at Mon open in New Zealand due to safe-haven buying of yen, the pair fell to 109.32 in New Zealand vs Friday's close of 110.27, however, lack of follow-trough selling quickly lifted dlr to 109.92 in early Tokyo trading on buying by Japanese names (importers) before easing.

Looks like an intra-day low has been made at 109.32 and range trading would continue in Europe, if dlr is hovering near 110.00, European traders may well sell the greenback to test the downside but if it is trading below 109.32, steep fall is unlikely to be seen as traders only recalled dlr rallying strongly from last Tuesday's 4-1/2 month low after N. Korea fires missile above Japan and trading may quieten down in N. American session as financial markets in the U.S. n Canada are closed for Labor Day holiday.

Offers are tipped at 109.90/00 and more above with stops above 110.50.
Bids are noted at 109.60-50 n more below with stops below 109.30.

 

[AceTRaderForex]

AceTraderFx Sept 04: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
04 Sept 2017 9:00GMT

GBP/USD - 1.2943.. Cable remains under pressure in European trading due to broad-based selling in the sterling. Traders cited weekend comments by U.K.'s chief Brexit negotiator David Davis which had raised market concerns after last Brexit talk.

Reuters reported Davis said on Sunday the EU had made itself look silly by criticising the British approach to the talks that Brussels said had made little progress.

The release of weaker-than-expected UK construction PMI is likely to pressure the pound lower after consolidation before downside risk is seen for a retracement of early rise from August's 7-week bottom at 1.2774 especially when European markets are closed as financial markets in Canada and the U.S. are off for Labor Day holiday.

Offers are tipped at 1.2965/75 and more above with stops above 1.3000.
Some bids are noted at 1.3910/00 with stops below there.

 

[AceTRaderForex]

AceTraderFx Sept 05: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
05 Sept 2017 2:00GMT

EUR/USD - 1.1899.. Euro moved broadly sideways in lackluster Mon trading as financial markets in the U.S. and Canada were both closed for Labor Day holiday.
Despite intra-day 'yen-led' rise to 1.1922 in Europe, selling interest quickly emerged n knocked price down to 1.1890. The pair then rebounded to 1.1920 after European close but only to fall back to 1.19890 again.

Looks like range trading would continue until European open and release of a slew of EU data together with return of North American traders, trading should revert back to normal and we should expect brisk trading for rest of the day.
Offers are tipped at 1.1920/30 with stops above 1.1950, more stops are reported above 1.1980.
Initial bids are noted at 1.1885-75 with stops below 1.1850 and more stops are building below last week's low at 1.1824.

Today is PMI day, Italy will kick off 1st with Markit services PMI, then the same from France, Germany and then the EU including retail sales.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Sept 2017 2:00GMT

USD/JPY - 108.76.. Dlr is nursing loss after yesterday's intra-day selloff from 109.84 to as low as 108.63, then 108.51 at Tokyo open before staging a minor bounce in short covering.

Yesterday's decline on active safe-haven buying of yen due to continued tensions on the Korean Peninsula, then subsequent dovish comments by Fed governor Lael Brainard where both key factors sent U.S. Treasury yields down sharply (benchmark 10-year yield fell to a 10-1/2 month low of 2.061%, then to 2.054% today).

Looks like the greenback would later re-test last week's 4-1/2 month low at 108.27 as Korean tensions are expected to linger on head of North Korea's Foundation Day on Sep 9 (Sat). Current broad-based losses in Asian stocks following yesterday's decline in U.S. equities should weigh on the buck, so selling dlr on recovery is the way to go as price is en route to re-test 2017 bottom at 108.13 (April).

Offers are tipped at 108.85/95 n more above with stops above 109.20, more stops are reported above 109.55.
Bids are noted at 108.60-50 and more below with large stops touted below 108.00.

U.S. will release trade balance, Redbook sales, Markit services PMI and ISM non-mfg PMI.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Sept 2017 2:40GMT

USD/JPY - 109.11.. Dlr pared yesterday's intra-day gain and fell briefly to 108.89 on Bloomberg news that South Korean PM said North may launch missile on Sept 9, however, as market has already been warned of such occurrence since yesterday, renewed buying quickly lifted the pair.

AS dlr's rally on Wednesday from 108.46 to 109.39 due to extension of the U.S. debt ceiling was also supported by by rising U.S. Treasury yields, suggesting further choppy trading above July's 4-1/2 month bottom at 108.18 would continue with upside bias, therefore, trading the greenback from long side in anticipation of further gain after intra-day choppy consolidation is over is favoured.

Bids are noted at 108.95/90 and more below with some stops below 108.70.
Offers are tipped at 109.35/40 with stops above 109.60 n more stops above reported above 110.00.

U.S. eco. calendar is very light with weekly jobless claims, labor costs and nonfarm productivity being the data due out later in the day.

 

[AceTRaderForex]

AceTraderFx Sept 08: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
08 Sept 2017 2:40GMT

EUR/USD - 1.2033.. Euro trades steadily with a firm undertone in a rather subdued Asian morning after yesterday's surge to 1.2059, however, the rise was not exactly plain sailing.

Although the pair briefly jumped to 1.2022 as the start of ECB Draghi's press conference, price swiftly tanked to 1.1930 in matter of a few seconds before rising again to session high of 1.2059 as Dragi refused to jawbone the euro lower, however, long liquidation later sent price back down to 1.1985 and later chopped broadly sideways in New York afternoon.

As market has interpreted Draghi's comments esp. the ECB policymakers will discuss QE tapering in October's meeting as bullish, buying euro on dips in anticipation of a re-test of August's 30-month peak at 1.2070 is recommended.

Bids are noted at 1.2020-00 are with stops below 1.1980, more stops are reported below 1.1930.
Offers are tipped at 1.2060/70 with stops above there, more stops are reported above 1.2100.

Data to be released today:
Eur area eco. calendar is pretty light today, Germany will release exports, imports and trade data, then Frances's industrial production. ECB Council Member and Bank of Finland Governor Liikanen will speak in Finnish parliament at 08:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
11 Sept 2017 3:10GMT

USD/JPY - 108.41.. Dlr is currently trading around the same level it was at this time last Friday after having fallen to a fresh 10-1/2 month bottom of 107.32 at New York open, however, price later climbed back to 108.07 as rebound in U.S. yields prompted short covering.

The pair opened higher to 108.19 in New York on Monday as N. Korea did not launch any missile as market expectation to to celebrate its Foundation Day last Saturday, such action led to broad-based yen selling and continued usd's gain vs other G7 currencies, dlr climbed to 108.57 as U.S. yields went higher in Asia.

Looks like a temporary low has been made at 107.32 on Friday n European traders may well buy the buck if U.S. Treasury yields (benchmark 10-year is now around 2.0906% vs Friday's low at 2.0161%) edge higher in Europe.
Bids are noted at 108.20-00 with some stops below there.
Offers are tipped at 108.55/65 with stops above 108.70, more stops are reported above 109.00.

As no eco. data is due out in the U.S., funds flow will have a major influence on intra-day price swings.