AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
05 Sept 2018 03:00GMT

USD/JPY - 111.62.. Despite yesterday's intra-day wild swings from European 111.53 in New York morning, dlr rebounded to 111.51 after upbeat U.S. mfg PMIs as well as rising U.S. yields (benhmark 10-year climbed to 2-week high of 2.9060%, circa 2.8985%).

The pair traded narrowly but with a firm undertone at Tokyo open n then jumped to 111.71 after tripping stops above 111.55/60, suggesting price is en route towards last Thursday's 2-1/2 week peak at 111.83 n there is market of stops building up above previous daily res at 111.88.
Therefore, trading dlr from long side (our intra-day and daily strategies are holding long positions) is the way to go.
Bids have been raised to 111.55-50 and more below with stops reported below 111.15.
Offers are tipped at 111.75/85 with stops above 111.90/00.

U.S. will later release Redbook sales n ISM New York bus conditions index. We also have St. Louis Fed President Bullard, Minneapolis Fed's Kashkari n S. Francisco Fed President Williams speaking (please refer to our EI section for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
06 Sept 2018 03:00GMT

EUR/USD - 1.1644.. Euro extended yesterday's 'cable-led' rally at Asian open as intra-day selloff in dlr/yen triggered renewed broad-based usd's weakness, price easily climbed above New York high at 1.1640 to 1.1659 after tripping stops above 1.1645, however, euro quickly eased on lack of follow-through buying.

Although yesterday's anticipated rally to 1.1640, then 1.1659 today signals correction from August's 1.1734 peak has ended at 1.1530 (Tuesday), intra-day pullback suggests range trading is likely to be seen until European open before prospect of further rise. Therefore, buying euro on dips again is the way to go.
Bids are noted at 1.1620-10 with some stops below 1.1600.
Offers are tipped at 1.1660/70 with stops above 1.1700.

Eco. calendar in the euro area countries is pretty thin with Germany's industrial order being the only data due out at 06:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
07 Sept 2018 03:30GMT

USD/JPY - 110.57.. Dlr finally pares yesterday's selloff n then intra-day weakness to a 2-week trough at 110.38 on short covering ahead of Tokyo lunch break.

The pair started to drop from 111.34 shortly after New York open on downbeat U.S. ADP private payrolls and intra-day accelerated on broad-based yen buying, price hit 110.70 b4 staging a recovery to 110.94.
However, price tumbled again to 110.53 ahead of New York close on renewed safe-haven yen buying following media report that Trump said he may take on trade issues with Japan.

Although dlr weakened to 110.38 at Tokyo open in reaction to Trump's comments, intra-day recovery suggests temp. low is made and range trading is expected until European open. Therefore, selling dlr on further recovery due to o/sold condition is recommended as European traders are expected to buy the yen broadly when they come in.
Offers are tipped at 110.75/85 with stops above 111.00.
Bids are noted at 110.40-30 with stops below 110.20.

Although U.S. will release the monthly block-buster non-farm payrolls and market will also watch average wage growth, unless jobs report beats forecast by a wide margin, the pair is en route towards August's low at 109.78 next week.
We have a number of Fed Presidents delivering speeches later today starting with Rosengren, Mester and Kaplan (see EI page for details).

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
10 Sept 2018 03:00GMT

USD/JPY - 110.98.. Dlr moves relatively narrowly in subdued Asian morning after volatile trading on Friday.

Despite initial fall to a fresh 2-week low at 110.38 at Asian open Fri due to U.S. President Donald Trump's comments, price erased its losses and intra-day gain accelerated in New York after upbeat U.S. jobs data and price hit session highs at 111.25.
However, the pair retreated briefly but sharply to 110.75 on renewed U.S.-China trade tensions before swinging sideways in New York afternoon.

As Friday's rally from 110.38 to 111.25 signals correction from 111.83 has ended, consolidation with upside bias is in store, so buying dlr on dips is recommended.
Bids are noted at 110.85-75 with stops below there.
Offers are tipped at 111.10/20 with stops reported above 111.25.

After Friday's release of monthly blockbuster U.S. jobs report, no U.S. eco. data is due out today, however, we have Atlanta Fed President Bostic (2018 FOMC voter) speaking on the economic outlook at a business conference at 16:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
11 Sept 2018 03:00GMT

USD/JPY - 111.39.. Despite intra-day sideways swings in Mon's trading, the pair climbed at Tokyo open on broad-based selling of yen as yesterday's rally in eur/chf cross has boosted risk sentiment, the pair rose to 111.48 after tripping stops above 111.25.

Today break above last Friday's NFP-high at 111.25 suggests upmove from 110.38 has once again resumed and price is en route to 111.83 chart obj. after consolidation, therefore, trading the greenback from long side is recommended n stops above 111.85 are in focus.
Bids have been raised to 111.30-25 with stops below 111.10 whilst some offers are tipped at 111.50/60.

On the data front, U.S. will release some 2nd-tier data starting with Redbook sales, JOLTS job openings and wholesale inventories.

 

[AceTRaderForex]

AceTraderFx Sept 12: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
12 Sept 2018 04:00GMT

EUR/USD - 1.1592.. Euro orbited the 1.1600 handle in subdued Asian trading after yesterday's roller-coaster ride.

Despite extending rally from Monday's 2-1/2 week trough at 1.1526 to 1.1644 in early European trading, price tumbled on renewed U.S./China trade tensions after news report China will ask WTO to sanction trade retaliation against the U.S., euro hit session lows of 1.1565 at New York open before staging a short-covering rebound to 1.1612 near New York close as selloff in usd/cad on NAFTA optimism lifted the commodity currencies n pressured usd.

Expect sideways swings to continue in European morning but as yesterday's fall from 1.1644 to 1.1565 signals said correction from 1.1526 has possibly ended, below 1.1565 would add credence to this view and yield re-test of 1.1526. Therefore, selling euro on further recovery is cautiously favoured.
Offers are tipped at 1.1610/20 with stops above 1.1650.
Some bids are noted at 1.1575-65 with stops reported below there.

The euro area will release a slew of eco. data during European morning starting with Italy's industrial output, then the same from the EU as well as EU's employment change data.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
13 Sept 2018 03:00GMT

USD/JPY - 111.38.. Dlr pared Wed's losses and rebounded to 111.45 in active trading on Thursday as Asian traders sold the Japanese yen broadly following broad-based gains in U.S. stocks and intra-day rise in Asian equities in reaction to overnight news of prospect of renewed U.S./China trade talk.

Although the pair briefly recovered to 111.46 in New York morning after Wall Street Journal reported the United States is proposing a new round of trade talks with China, broad-based usd's weakness which began in New York morning after soft U.SD. PPI data later pressured price to session lows of 111.12. Intra-day cross-inspired gain to 111.45 suggests sideways swings are in store but expected usd's weakness vs other G7 counterparts should prevent further rise, so selling dlr on recovery is favoured.
Offers are tipped at 111.45/55 with stops above 111.65.
Some bids are noted at 111.20-10 with stops reported below 111.00.

On the data front, U.S. will release CPI and core CPI data, weekly jobless claims, real weekly earnings and Federal budget.
There will be 2 Fed officials presenting, Fed's Quarles and Atlanta Fed President Bostic later in the day.

 

[AceTRaderForex]

AceTraderFx Sept 14: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
14 Sep 2018 02:30GMT

USD/JPY - 111.96.. Dlr pares initial gain after extending yesterday's rally above New York 111.99 high to a fresh 6-week peak of 112.08 at Tokyo open due to renewed yen-selling esp. vs usd, euro and sterling, however, profit taking quickly emerged and knocked price back down to 111.96, suggesting range trading is in store until European open.

As Thursday's break of previous daily res at 111.83 confirms dlr's rise from August's 7-week bottom at 109.78 has finally resumed, price is en route to re-test Aug's top at 112.15 and stops are above there are now in focus, therefore, trading the greenback from long side for further headway to 112.45/50 later today is recommended.
Bids are noted at 111.80-70 with stops below 111.65, offers are tipped at 112.10/15 with stops above there.

The U.S. will release a slew of eco. data starting with August retail sales, import and export prices, industrial prod., capacity utilization, mfg output, bus. inventories and last but not least University of Michigan consumer confidence, suggesting it would be a lively trading session in New York morning.
Also we have Chicago Fed President Evans speaking at 13:00GMT.
T.G.I.F.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
17 Sep 2018 03:00GMT


USD/JPY - 112.03.. Although dlr opened slightly lower from Friday's New York close of 112.04 at 111.94 following weekend Reuters news which came out Saturday, citing source from a senior U.S. administration official that Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday.
However, the pair quickly met renewed buying and rose to 112.12 in Asian morning, just below Friday's high at 112.17 (New York).

Expect subdued trading in Asian morning as financial markets in Japan is closed for a national holiday and buying the pair on dips is still recommended after hitting a 7-week peak of 112.17 Friday, however, renewed U.S./China trade tensions ( WSJ reported earlier China may decline to attend trade talks due next week as Beijing won't negotiate under threat) would prevent strong gain in European morning.

Order book is thin on Monday with bids noted at 111.95/00 and more below with stops reported below 111.70.
Offers are tipped at 111.10/20 with stops above there. U.S. eco. calendar is very thin with New York September mfg index being the only data due out later today at 12:30GMT.

 

[AceTRaderForex]

AceTraderFx Sept 18: Intra-Day News and Views & data to be released today

Intra-Day Market Moving News and Views
18 Sep 2018 03:00GMT

EUR/USD - 1.1681.. Despite Mon's impressive rally from 1.1618 (Europe) to 1.1698 in New York, the single currency retreated in Australia to 1.1666 on intra-day selloff in eur/yen cross after Trump announced additional tariffs on China (see prev. updates for details), suggesting sideways swings are in store ahead of European open.

Having said that, as Mon's rally to 1.1698 signals pullback from Fri's 4-week high at 1.1722 has ended y'day, above said res would bring re-test of August's peak at 1.1734, break would extend recent upmove to 1.1750/55 later.
Therefore, buying euro on dips is recommended as usd is unlikely to gain strongly on renewed U.S./China trade tensions.
Bids are noted at 1.1665-55 with stops below 1.1640 and more stops are touted below 1.1610.
Offers are tipped at 1.1690/00 and more above with stops reported above 1.1735.

The only eco. dat due out today is from Italy starting with industrial order n industrial sales. However, pay attention to speeches by ECB's Draghi and other ECB officials. Draghi will speak at a financial conference in Paris at 07:00GMT entitled "Financial supervision and the role of National Authorities in Europe" (so market reaction on his speech would be muted unless he make separate comments on ECB's policy). ECB's Villeroy will speak at the same conference.

 

[AceTRaderForex]

AceTraderFx Sept 19: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
19 Sept 2018 03:00GMT

EUR/USD - 1.1657.. Despite yesterday's 'erratic' upmove to a near 3-week high of 1.1724 in New York morning, failure to re-test August's peak at 1.1734 and rising U.S., yields triggered broad-based profit taking in the euro, price later tumbled to 1.1652 after tripping stops below 1.1660/65 and intra-day weakness suggests consolidation with downside bias remains for a stronger retracement of early rise from last week's bottom at 1.1526 to 1.1630/40.
However, reckon this week's low at 1.1618 (Monday) would contain weakness.

Offers are tipped at 1.1680/90 and more above with fairly large stops reported above 1.1735/40.
Bids are noted at 1.1655-50 with stops below there, however, more buying interest is touted at 1.1620-1.1615.

On the data front, the EU will release current account first, then construction output.
EU will hold its summit meeting in Salzburg where an informal meeting to discuss Brexit in European evening. Pay attention to ECB Draghi's speech on "Making Europe's Economic Union work' at an event in Berlin at 13:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
20 Sep 2018 03:20GMT

USD/JPY - 112.26.. Dlr trades relatively narrowly in subdued Asian morning after retreating from Wednesday's 8-week high of 112.45 to 112.16 (New York).

Despite resumption of recent cross-inspired upmove to 112.45 in Europe on renewed usd's strength due to ongoing U.S./China trade tensions n rising U.S. yields where benchmark 10-year yield hit fresh 4-month high of 3.09%, the price erased intra-day gain in New York and fell to session lows of 112.16 due to broad-based usd's retreat as investors shrugged off global trade concerns and unwound long usd positions.

Looks like sideways trading below 112.45 would continue n marginal weakness can't be ruled out, reckon 112.00/05 would hold and yield another rise later today. Therefore, buying dlr on dips is cautiously favoured.
Bids are noted at 112.20/10 with stops below 111.85.
Offers are tipped at 112.35/45 with stops above 112.50.

U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey, existing home sales and leading indicator.

 

[AceTRaderForex]

AceTraderFx Sept 21: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
21 Sep 2018 03:00GMT

EUR/USD - 1.1777... The single currency stands tall in relatively subdued Asian trading after rallying in tandem with sterling to a 2-month high of 1.1785 in New York afternoon.

Yesterday's break and daily close above August's 1.1734 top bodes well for price to extend Medium Term rise from August's 13-month bottom to next chart obj. at 1.1852 (June's high) where a break of this key res should lead to more usd's weakness next week (forget about next Wednesday's Fed's rate hike) and price should head towards psychological 1.2000 level in October.
Therefore, trading euro from long side (our daily strategy is holding a long position entered at 1.1745).
Bids have been raised to 1.1760-50 with stops below 1.1730.
Offers are tipped at 1.1790/00 with some stops above 1.1800.

Today is PMI day in the euro area, France will kick off with final Q2 GDP, then Markit September mfg and services PMIs, Germany will release the same PMIs followed by the EU.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
24 Sep 2018 03:00GMT

USD/JPY - 112.60.. Although dlr fell at New Zealand open from 112.56 on risk aversion as short-term specs sold the pair in reaction to Saturday's WSJ report China had cancelled this week's trade talks with the U.S. and will not send vice-premier Liu He to Washington.
Price hit intra-day low of 112.28 after tripping stops below 112.40, however, lack of follow-through selling quickly lifted dlr back to 112.63 in thin Asian morning.

Many financial markets in Asia are closed today for Mid-Autumn festival whilst Japan is closed for Autumnal Equinox Day holiday, so range trading below Friday's 2-month peak at 112.87 is envisaged until European open, however, intra-day rebound signals pullback is over and anticipated usd's strength vs G4 currencies suggests buying dlr on dips for re-test of July's peak at 113.17 is favoured.
Order book is very thin with bids noted at 112.40-30 with stops below 112.25.
Offers are tipped at 112.70/80 with stops above 112.90.

Later today, U.S. will release Chicago Fed national activity index at 12:30GMT and then Dallas Fed mfg business ndex at 14:30GMT. However, all eyes are on Wed's FOMC where the Fed is expected to hike its key rates by another 25 b.p. for the 3rd time this year.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
26 Sep 2018 03:30GMT


USD/JPY - 112.90.. Dlr pares initial gain after climbing above yesterday's 112.98 high to a fresh 2-month peak of 113.03 at Tokyo open, however, similar to yesterday's price action in Asia, price quickly retreated on profit taking n eased back to 112.89.

Dlr's gain to 113.03 due partly on yesterday's rise in U.S. Treasury yields where benchmark 10-year hit fresh 6-month high of 3.113% (circa 3.0983) suggests re-test of key daily res at 113.17 (July's high) after consolidation n price is expected to maintain a biddish undertone ahead of FOMC announcement where the Fed is widely expected to raise its key rate by a quarter point for the 3rd time this year, traders will also pay attention to Fed's dot-plot (Summary of Economic Projections) by FOMC members on their eco. forecasts. Bids are noted at 112.85-75 with stops below 112.70.
Offers are tipped at 113.00/10 with stops above 113.20.

Ahead of key FOMC decision, U.S. will release building permits, new home sales, then FOMC decision at 18:00GMT n Fed Chair Powell post-FOMC press conference at 18:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
27 Sep 2018 03:00GMT

USD/JPY - 112.86.. Dlr pares overnight loss in early Tokyo trading after falling from a fresh 2-month high of 113.13 to 112.63 in post-FOMC New York.

Despite a brief climb to 113.13 after expected quarter-point rate hike by the Fed, broad-based usd's retreat the Fed after dropped a reference in its statement to the word "accommodative" knocked the pair to session lows of 112.63 as U.S. yields also dropped on this, however, dlr staged a minor recovery at Fed's J. Powell's post-FOMC presser when he said later said Fed's monetary policy was still accommodative.

Intra-day rebound to 112.90 suggests 1st leg of correction is over and sideways swings are in store before prospect of one more fall to retrace recent cross-inspired upmove, therefore, intra-day players can sell dlr on recovery for another fall, day traders are recommended to buy dlr on next fall.
Offers are tipped to 112.90/00 with stops reported above July's 113.17 peak.
Bids are noted at 112.70-60 with stops below there, however, more buying interest is touted at 112.30-20.

On the data front, U.S. will release a slew of eco. data starting with weekly jobless claims, durable good orders, final Q2 GDP, trade balance, wholesale inventories, pending home sales asnd KC Fed mfg index, suggesting it will be lively trading session in New York.
BOJ Gov. Kuroda will deliver a brief speech in Tokyo at 06:30GMT whilst Fed Chair J.
Powell will give brief remarks on U.S. economy before an event with business leaders at 20:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
28 Sep 2018 03:00GMT

USD/JPY - 113.56.. Dollar continued its winning streak and despite intra-day weakness to 112.56 in Europe on Thursday, price rallied in New York session due to broad-based strength due to upbeat U.S. data n selloff in eur/usd, the pair climbed to a near 9-month high of 113.46, then 113.64 in early Tokyo trading on intra-day firmness in the buck.

Yesterday's resumption of recent upmove has just our recent bullishness on the dlr and price is en route to next chart obj. at 113.75, then 114.74 (217 November high) next week, therefore, buying the pair on dips is the way to go.
Bids have been raised to 113.35-25 with stops below 112.90.
Offers are tipped at 113.65/75 with stops above there.

On the data front, U.S. will release a slew of eco. data starting with personal income and spending, PCE, core PCE, Chicago PMI and University of Michigan consumer confidence. We also have Richmond Fed President speaking at 12:30GMT, then New York Fed President Williams at 20:45GMT.

 

[AceTRaderForex]

AceTraderFx Oct 02: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
02 Oct 2018 03:30GMT

USD/JPY - 113.95.. Dlr climbed marginally higher to a fresh 10-1/2 month peak of 114.06 in New York morning as renewed usd's strength and rebound in U.S. treasury yields supported the pair.
However, profit taking shortly after Tokyo open today pressured price to 113.83, suggesting range trading below 114.06 would be seen ahead of European open.

As Monday's gain to 114.06 confirms recent upmove remains in force, outlook remains mildly bullish for further headway to 114.40/50 after consolidation, neverthewless, loss of momentum is expected to cap price below daily res at 114.74 (2017 Nov high).
Bids are noted at 113.85-80 and more below with stops below 113.60.
Offers are tipped at 114.05/10 with stops above there.

On the data front, U.S. will release Redbook sales n ISM NY bus conditions index. Fed Vice Chair will speak at 14:00GMT, then Richmon Fed's Barkon at 16:00GMT, pay attention to Fed Chair J. Powell's speech at 16:45GMT and Dalls Fed's Kaplan at 18:00GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
03 Oct 2018 03:30GMT


USD/JPY - 113.55.. Dlr remains on the back foot in relatively subdued Tokyo trading after yesterday's decline from 114.2 to 113.53 in New York due to intra-day safe-haven yen buying esp. vs eur and sterling as well as retreat in U.S. yields.

Although intra-day marginal weakness to 113.52 on renewed cross-buying in yen suggests recent upmove has made a temp. top at Mn's 10-1/2 month peak at 114.06 n range trading is in store, anticipated broad-based usd's strength should limit downside n price is likely to resume recent upmove once present sideways consolidation is over.
Bids are noted at 113.55-50 with stops reported below 113.30.
Offers are tipped at 113.90/00 with stops above 114.10.

On the data front, today is PMI day but pay attention to market-moving ADP private payrolls ahead of Fri's NFP, Markit services PMI and then mfg PMI.
We also have a no. Fed officials deliver speeches today, please refer to our EI section for details and pay attention to Fed Chair J. Powell's speech at 20:00GMT in Washington D.C. where he will participate in discussion before an event.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
04 Oct 2018 03:30GMT

EUR/USD - 1.1470.. The single currency languishes near Wednesday's fresh 6-week low of 1.1465 in subdued Asian trading on Thursday.
Although euro jumped in Asian morning yesterday from 1.1536 to 1.1594 on Italian budget cut news, price quickly pared intra-day gain in Europe on broad-based euro selling n later tumbled to session lows of 1.1465 in New York due to broad-based usd's rally on the back of rising U.S. yields and Fed J. Powell's hawkish comments.

Euro's daily close below key 1.1500 level bodes ill for the single currency on a technical analysis standpoint and price is en route to re-test Aug's 13-month bottom later next week, so selling the pair on recovery is the way to go.
Offers are tipped at 1.1495/05 with stops above 1.1540.
Some bids are noted at 1.1465-55 with stops touted below there.

There is no eco. data release from the euro area countries today, however, we have ECB's Nowotny speaking at 07:00GMT, Then ECB's Rehn at 08:00GMT and later at 16:00GMT, ECB's Coeure.