AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Aug 20: Intra-Day News and Views & data to be released today - EUR/USD

Intra-Day Market Moving News and Views
Update Time: 20 Aug 2019 03:00GMT

EUR/USD - 1.1087.. Euro recovers in quiet Asian morning after Monday's attempt to trade above the 1.1100 handle failed as the greenback regained traction in New York afternoon session following Boston Fed Rosengren's hawkish comments (see previous update).

Although the pair moved narrowly in subdued Asian morning on Monday and then climbed to 1.1113 at London midday due to cross-buying in euro vs yen, gbp and chf, price later fell to session lows of 1.1077 on intra-day broad-based usd's gain.
As yesterday's fall from 1.1113 to 1.1077 suggest correction from Friday's 2-week trough at 1.1067 has ended, recent decline would resume later today after choppy consolidation is over.
Offers are tipped at 1.1100/10 with stops above 1.1130 and bids are noted at 1.1080-70 with stops reported below 1.1060.

Pay attention to latest political situation in Italy later today where PM Conte will address the Senate over the political crisis sweeping the government after his coalition partner the far-right League filed a no-confidence motion in the administration. On the data front, the EU will release Apr construction output at 09:00GMT.

 

[AceTRaderForex]

AceTraderFx Aug 21: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 21 Aug 2019 03:00GMT

USD/JPY - 106.47.. Dlr continues to move in familiar territory after swinging broadly sideways in directionless Tuesday's session. Despite moving narrowly in Asia yesterday, failure to re-test Monday's 106.69 high prompted selling on the dlr, price later hit session lows of 106.17 in New York due partly to falling U.S. yields before a brief recovery to 106.46 and then retreated to 106.20 ahead of NY close.

Although price has rebounded ahead of Tokyo lunch session on a boot of yen selling in Asia, sideways swings are expected to continue. Offers are tipped at 106.60/70 with stops above there while bids are noted at 106.25-15 with stops below 106.00.

U.S. eco. calendar is very light with existing home sales for Jul, however, pay attention to release of last FOMC minutes at 18:00GMT which is likely to move price a bit

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 22 Aug 2019 03:00GMT

USD/JPY - 106.45.. The pair continued to move broadly sideways on Wednesday in relatively narrow range of less than half a yen. Despite extending erratic rise from 106.17 (Tuesday) to 106.64 in New York afternoon after release of less dovish FOMC minutes which had lifted U.S. yields, failure to penetrate this res at Tokyo open today triggered broad-based yen buying and pushed price back down to 106.45.

Dlr's intra-day retreat suggests further choppy trading below this week's high at 106.69 (Monday) would continue with downside bias, however, price is likely to remain confined inside early broad range of 106.97-105.66 as market awaits key speech from Fed Chief J. Powell at Fed's annual global symposium at Jackson Hole tomorrow, traders are keeping their powder dry for this event.
For now, offers are tipped at 106.65/75 with stops above 107.00/10.
Bids are noted at 106.20-10 with stops below 106.00.

Ahead of Friday's J. Powell's speech, pay attention to release of U.S. eco. data later in the day starting with initial weekly jobless claims, Markit mfg n services PMIs n Kansas City mfg index. Also we have Minneapolis Fed President Kashkari (2019 non-voter n a dove) speaking at 18:30GMT.

 

[AceTRaderForex]

AceTraderFx Aug 23: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 23 Aug 2019 03:00GMT

USD/JPY - 106.54.. The pair continued to trade sideways again in directionless Thursday's session and price moved in tandem with intra-day swings in U.S. yields as traders were keeping their powder dry ahead of key Fed Powell's Jackson Hole speech later today at 14:00GMT.

Looking at the hourly chart, dlr's range this week has been just shy of 50 pips in last 4 sessions and this may make technical traders complacent as they probably think this week's range trading price action would continue. Therefore, fundamental players are holding high hopes for Fed's J. Powell to express clearly his 'latest' interest rate view of whether it deems fit for the Fed to cut its rate at next FOMC meeting in late September or will continue to defy Trump's repeatedly calls to lower rate and stick to its 'data-dependent' stance.
For now, offers are tipped at 106.60/70 with fairly large stops touted above 107.00/10 whilst bids are noted at 106.25-15 with stops below 106.00, more stops are reported below 105.60.

T.G.I. F. for Asian traders, ahead of Powell's speech, we have several Fed officials speaking at various times (see our EI section for details) and the only U.S. data due out at the same time when Powell begins to speak is new home sales for July.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1146.. The single currency pared intra-day gain n retreated from Monday's 12-day high of 1.1164 (Australia) to 1.1137 in early Asian trading. Although price extended Friday's rally n climbed briefly above New York high at 1.1153 to 1.1164 due to initial selloff in usd/yen and usd/chf, intra-day rebound in usd/yen quickly knocked price lower, suggesting range trading is in store ahead of European open.

As euro's impressive rally from 1.1052 to 1.1153 due to usd's broad-based weakness on Friday suggests further choppy trading above August's 26-month bottom at 1.1052 would continue, outlook remains supportive for price to head to 1.1180/90 after consolidation but overbought condition is likely to cap euro at 1.1220/30 today.
Bids are noted at 1.1130-20 with stops touted below 1.1110.
Offers are tipped at 1.1160/70 with stops above 1.1190.

Today is the final day of the 3-day G7 leaders' summit in France.
On the data front, pay attention to release of key German Ifo business climate, current conditions and expectations, street forecasts are looking for weaker readings from previous readings due to recent recessions fears in Germany, however, euro bulls should buy eur/usd on dips.

 

[AceTRaderForex]

AceTraderFx Aug 27: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 27 Aug 2019 03:00GMT

USD/JPY - 105.72.. Dlr pares yesterday's gain after staging an impressive rally from a 33-month bottom at 104.46 (AUS) to as high as 106.41 in New York following easing of Sino-China trade tensions (see earlier updates for details) triggered unwinding of recent long yen positions.

Having said that, as dlr's sideways move in subdued New York afternoon session ended with the pair falling in Asian morning today despite recovery in U.S. stocks and ended the day higher of just more than 1% in the Dow, S&P 500 and the NASDAQ, suggesting 1st leg of correction from 104.46 has ended and price may head back to 105.21/26 (61.8% r n last Fri's low respectively). Therefore, selling dlr on recovery is favoured but day traders may buy dlr on dips.
Offers are tipped at 105.90/00 n more above with stops above 106.45.
Bids are noted at 105.60-50 with stops below 105.10.

U.S. will release a slew of eco. data starting with monthly home price, CaseShiller home price indices, consumer confidence and Richmond Fed mfg index.

 

[AceTRaderForex]

AceTraderFx Aug 28: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 28 Aug 2019 03:00GMT

USD/JPY - 105.80.. Dlr is in holding pattern after staging an impressive rally from Monday's 33-month bottom to as high as 106.41 on active unwinding of recent long yen positions due to easing of Sin-U.S. trade tensions, however, the pair pared (pun intended) Monday's gain n retreated to 105.60 at European open y'day on profit taking, despite staging a rebound to 106.06 in New York morning as usd's found renewed strength, price later retreated in tandem with falling U.S. yields to 106.67.

As decline from 106.41 to 105.60 signals the 1st leg of correction from 104.46 has ended, choppy sideways swings with downside bias is seen for weakness to 105.26-105.21 (being last Friday's low n 61.8% r respectively), selling dlr on intra-day recovery is favoured but profit should be taken on decline.
Offers are tipped at 105.90/00 with stops above 106.20 and more above 106.50.
Bids are noted at 105.70-60 with stops below there.

Eco. calendar in the U.S. is very light with MBA mortgage application being the only data due out. We have Richmond Fed's Barkin speaking to a group of entreprenurs later at 16:20GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 105.87.. Despite yesterday's swings in New York session, the pair is currently roughly where is was around this time on Wednesday. Although price met buying interest at Asian open yesterday n moved narrowly in European morning, rebound in U.S. yields later lifted price to session highs of 106.22 in New York afternoon, price later ratcheted lower on lack of follow-through buying and weakened to 105.86 in Asia as U.S. yields fell again.

Although dlr's retreat from 106.22 suggests further choppy trading below this week's high at 106.41 (Monday) would continue, as long as reaction low at 105.60 (Tuesday) holds, another bounce to 106.10/20 may be seen but above 106.22 needed to retain near term upside bias for re-test of 106.41 later today.
Offers are tipped at 106.00/10 with stops above 106.45.
While bids are noted at 106.70-60 with stops below there.

U.S. will release a slew if eco. data starting with important prel. Q2 GDP, core PCE prices, PCE prices, goods trade balance, wholesale inventories, initial jobless claims, all due out at 12:30GMT, then later pending home sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1045.. The single currency remained on the back foot in Asian trading Friday after yesterday's volatile trading. Despite resumption of this week's fall to 1.1057 in New York morning after IMF Chief Largard (who is widely expected to replace ECB Presisent Draghi in November, 2019) said in written answers to the European Parliament's committee on economic affairs ECB has room to cut rates if needed, price briefly jumped to 1.1092 on comments by ECB's Knot said he sees no need to resume QE right now but only to tumble to 4-week trough of 1.1043 on broad-based usd's strength.

As yesterday's break of last Friday's 1.1052 suggests recent erratic has resumed, price is en route to re-test August's 26-month trough at 1.1028 and stops below option defence at the 'psychological' 1.1000 level is not in focus.
Offers have been lowered to 1.1075/85 and more above with stops above 1.1100.
Bids are noted at 1.1030-20 with large stops below 1.1000.

Ahead of release of key U.S. core PCE data, we have data dump from the euro area countries during European morning, please refer to our EI section for details.

 

[AceTRaderForex]

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

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

USD/JPY - 106.20.. Dlr fell from 106.25 at New Zealand open and easily penetrated Friday's 106.11 (New York) low to 105.93 due to a bout of broad-based yen buying after China and the United States began imposing additional tariffs on each other's goods on Sunday (see yesterday's update for details), however, dlr quickly pared intra-day losses and staged a rebound to 106.23 in Asian morning.

As dlr's decline from last week's 106.67 (Thursday) high signals recent upmove from August's 33-month trough at 104.46 has a top there, consolidation with downside bias remains for a stronger retracement towards 105.60.
Offers are tipped at 106.35/40 with stops above 106.75.
Some bids are noted at 106.00-105.90 with stops below 105.80.

No U.S. eco. data will be released today due to Labor Day market holiday in the U.S. and Canada, therefore, expect market to quieten down after European close.

 

[AceTRaderForex]

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

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

GBP/USD - 1.2034... The British pound remains on the back foot after Monday's selloff. Despite a brief jump to 1.2175 at European open yesterday, renewed selling quickly emerged and later tumbled to a 20-day bottom at 1.2036 in holiday-thinned North America session on renewed no-deal Brexit concern as British Prime Minister may call for a pre-Brexit snap election as well as downbeat UK manufacturing PMI data, then 1.2029 in Asian morning today.

Cable's selloff yesterday suggests correction from Aug's 30-month trough at 1.2015 has ended at last Tuesday's 4-week peak of 1.2310 and re-test of said sup would be seen after consolidation, where break would extend Medium Term decline towards 2017 bottom at 1.1983 before prospect of rebound due to oversold condition.
Offers are tipped at 1.2070/80 with more above with stops above 1.2110 while bids are noted at 1.2020-15 with stops below 1.1990-80.

On the economic calendar today, UK will release Markit construction PMI, where forecast is above previous reading of 45.3. However, traders should pay special attention to British court hearing in regards to forcing no-deal Brexit where it could cause potential volatility in the market.

 

[AceTRaderForex]

AceTraderFx Sept 04: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 04 Sept 2019 03:30GMT

USD/JPY - 105.96.. The greenback swung wildly above and below the 106.00 handle in volatile Tuesday's session. Although price fell from 116.38 (Asia) to 105.93 in European morning due to falling U.S. yields (benchmark 10-year yield hitting 3-year lows of 1.4288%), renewed broad-based usd's strength vs G3 currencies lifted price to 106.30 in New York morning but only to tumble to session lows of 105.75 after release of weak U.S. ISM-mfg data, however, short covering later lifted price ti0 106.07.

Intra-day rise back to 106.06 in Asian morning suggests sideways trading above 105.75 would continue, however, as early fall from last week's 106.67 to 105.75 signals 1st leg of correction from August's 104.46 bottom has ended, downside bias remains for weakness to 105.60 before prospect of rebound.
Offers are tipped at 106.20/30 with stops above 106.40 whilst bids are noted at 108.85-75 with stops reported below 105.60.

U.S. will release MBA mortgage applications, trade and goods balance, Redbook sales and then Fed's beige book.
Also we have a number of Fed officials speaking in New York session, please refer to our EI page for details.

 

[AceTRaderForex]

AceTraderFx Sept 05: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 04 Sept 2019 03:00GMT

EUR/USD - 1.1032.. The single currency is in holding pattern in subdued Asian trading after yesterday's resumption of upmove from Tuesday's 27-month bottom at 1.0927 to 1.1038 due to usd's broad-based weakness on easing of global tension as well as intra-day rally in cable.

As yesterday's break of Mon's 1.0998 high (now sup), then 1.1028 (prev. daily sup) to 1.1038 confirms long-awaited correction of recent downtrend has taken place, consolidation with upside bias remains for further headway to 1.1060, however, o/bot condition may cap price below 1.1092 ahead of Friday's key U.S. NFP.
Therefore, buying euro on dips is the way to go, bids have been raised to 1.1020-10 with stops below 1.0990.
While offers are tipped at 1.1040/50 with stops above 1.1060.

Eco. calendar from the euro area countries is very thin with Germany's industrial orders being the only data due out.
WE have ECB's Vice President de Guindos giving opening remarks at the ECB annual research conference in Frankfurt at 07:00GMT.

 

[Glastonburyk]

AceTraderFx Feb 18: Intra-Day Market Moving News and Views (EUR/USD)

Intra-Day Market Moving News and Views
18 Feb 2016 06:01GMT

EUR/USD - ..... Euro trades comfortably above yesterday's 1-week low of 1.1106 made in New York morning.
Although the pair bounced briefly back to 1.1157 after release of mildly dovish FOMC minutes, sellers emerged and pressured price back down to 1.1118/18 just ahead of Asian open, however, euro quickly rebounded to 1.1146 and later moved sideways.

Consolidation above 1.1106 is expected to continue in early European trading.
Today is the start of the 2-day EU leader summit meeting. So looks like big moves are unlikely to be seen.

Reasonably good bids are reported at 1.1120-00 area with stops below there.
Offers are tipped at 1.1150/60 and more above with stops touted above 1.1200.

Eurusd is my fav pair right now behaving very smoothly and great intraday

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 06 Sept 2019 03:00GMT

USD/JPY - 107.06.. Dollar orbits 107.00 handle after swinging wildly yesterday before resuming recent upmove in New York. Despite initial jump to 106.75 in Asia Thursday on rally in U.S. yields, price fell back to 106.38 on profit taking before climbing to a near 1-month high of 117.22 in New York morning after upbeat U.S. data and rally in the Dow, however, profit taking later knocked price to 106.88.

As yesterday's break above last week's 106.67 high to 107.22 confirms upmove from August's 104.46 bottom has resumed, gain to 107.49 is seen but loss of momentum would cap price below 107.82.
Bids are noted at 106.90-80 with stops below 106.70.
While offer are tipped at 107.20/30 with some stop touted above 107.50.

All eyes are on release of blockbuster U.S. NFP and average earnings, street forecast is looking for payroll to increase by 155K in August and MM earning to rise by 0.3%, if actual readings come out in line or beat estimates, then the greenback will rally, on the flip side, beware of a strong retreat.

Last but not least, pay attention to speech by Fed Chair J. Powell who will participate in "The Economic Outlook and Monetary Policy" panel discussion before event hosted by the Swiss Institute of International Studies, University of Zurich, in Zurich, Switzerland at 16:30GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Sept 2019 03:30GMT

GBP/USD - 1.2281... The British pound moved narrowly in Asia on Fri and edged up to 1.2343 at European open, however, failure to penetrate Thur's 1-month high at 1.2353 triggered profit-taking and cable fell to 1.2286. Despite rebounding to 1.2338 in post-NFP in New York on usd's weakness, the pair later dropped to session lows at 1.2280, then 1.2265 (Reuters) in New Zealand today due to news reported on Sunday that British Prime Minister Boris Johnson has prepared plans to legally stop any Brexit extension before recovering (see earlier update).

Although cable's retreat from Thur's 1.2353 high to 1.2265 today suggests first leg of correction from last Tue's 34-month trough at 1.1959 has ended, as long as 1.2262/65 sup holds, consolidation with upside bias remains for re-test of said temporary top, where break would extend upmove towards 1.2382 before prospect of retreat.
Bids are noted at 1.2270-65 with stops below there while offers are tipped at 1.2310/20 with more above and stops above 1.2380.

On the economic calendar, UK will release a slew of data starting with GDP, followed by industrial output, manufacturing output, construction output, trade balance, and NIESR GDP estimate. Also, we will have Bank of England MPC member Vlieghe due to speak at 08:00 GMT at a panelist at the launch of the Macro Policy Unit at Resolution Foundation. Traders should also pay close attention to the UK parliamentary vote on Brexit which will happen later on today.

 

[AceTRaderForex]

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

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

USD/JPY - 107.40.. Dlr continues its recent winning streak in Asia n hits a 5-week high of 107.49 as rising U.S. yields triggered a bout of broad-based yen selling at Asian open.

Despite intra-day break of Monday's high at 107.26 (New York) to 107.49, present retreat suggests range trading is likely to be seen, a firm break of 107.19 (low in Australia) would be the 1st signal temp. top is made and yields stronger retracement to 106.93 (New York low).
Offers are tipped at 106.45/50 with stops above 107.60 while some bids are noted at 107.25-20 n more below with stops below 106.90.

U.S. eco. calendar is pretty light today with Redbook sales and JOLTS job openings being the only data due out.

 

[AceTRaderForex]

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

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

USD/JPY - 107.67.. Dlr catches a bid in Asian trading on Wed n hits a fresh 5-week high of 107.68 ahead of Tokyo lunch break. Despite yesterday's initial gain to 107.49 in Asia, profit taking pushed price to 107.24 in Europe, price briefly jumped to 107.48 near London midday after Reuters reported BOJ policymakers are more open to discussing the possibility of expanding stimulus at next week's BOJ meeting, dlr fell to session lows of 107.20 in New York morning but only to rise to a 5-week high of 107.58 ahead of New York close due to rally in U.S. yields.

Dlr's intra-day resumption of recent upmove suggests price mat head towards 107.96 after consolidation, however, loss of momentum is likely to cap upside at 108.00/10.
Bids have been raised to 107.55-50 with stops below 107.40 while some offers are tipped at 107.80/90 with stops touted above 108.00.

U.S. will later release a slew of data starting with MBA mortgage applications, final Aug PPI, core PPI, wholesale inventories n wholesale sales.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 12 Sept 2019 03:30GMT

GBP/USD - 1.2328... Although cable initially gained from 1.2841 in Asian morning to 1.2371 in Europe on Wednesday, price met renewed selling and fell to session lows of 1.2313 in New York on renewed usd's strength and selloff in euro together with lingering no-deal Brexit concern before recovering to 1.2336 in Australia today.

Despite yesterday's fall to 1.2313, price is likely to remain confined inside this week's tight range of 1.2385-1.2307 and market focus has shifted to the euro due to key ECB rate decision and monetary policy announcement.
Offers are tipped at 1.2355/60 with stops above 1.2380 while bids are noted at 1.2310-00 and more below with stops below 1.2260.

Although no economic data is due out from the U.K. later today, traders should keep an eye out for Brexit headlines.

 

[AceTRaderForex]

AceTraderFx Sept 13: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 13 Sept 2019 03:30GMT

GBP/USD - 1.2334... The British pound pares overnight gains after Thursday's roller-coaster ride. Although cable moved sideways in Asia and edged up to 1.2342 in European morning, price briefly fell to session lows at 1.2284 at New York open on selloff in euro. However, renewed buying emerged and the pair rallied in tandem with euro to intra-day high of 1.2366 before retreating to 1.2328 at Asian open today.

Despite cable's resumption of erratic from Mon's near 6-week high at 1.2385 to 1.2284, subsequent strong rebound to 1.2366 suggests correction has ended and consolidation would be seen before recent upmove from last Tuesday's 34-month trough at 1.1959 heads towards projected target at 1.2430.
Bids are noted at 1.2330-20 with stops below 1.2300 while offers are tipped at 1.2370 with more above and stops reported above 1.2420.

Although there is no economic data coming out from U.K. today, we have Bank of England's Executive Director, Andrew Hauser participating in a panel at TradeTech FX Europe at 08:00 GMT.