AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 18 Sept 2020 05:30GMT

EUR/USD - 1.1844... Despite the single currency's resumption of decline from September's 2-year peak at 1.2011 to a 1-month bottom at 1.1738 in Asia, lack of follow-through selling triggered short-covering and the pair ralled to 1.1811 in Europe. Price continued to ratchet higher in New York session and gained to 1.1861 in Asian morning today before stabilising.

Euro's rally from yesterday's trough at 1.1738 suggests recent decline has made a temporary low there and consolidation with upside bias remains for stronger retracement to 1.1900/05. Bids are now seen at 1.1820/30 and more below at 1.1800/10 with stops building up below there whilst initial offers are noted at 1.1920/30.

In the absence of major economic data from the EU today, pay attention to comments from ECB Vice-President Luis de Guindos, who is scheduled to speak on the COVID-19 impact on monetary policy in a virtual speech at 09:15GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Sept 2020 05:30GMT

USD/JPY - 104.35... The greenback met renewed selling at 104.86 in Asia on Friday and dropped to a 6-week low at 104.28 in European morning on active safe-haven buying in jpy together with weakness in U.S. Treasury yields. Despite staging a short-covering rebound to 104.63 in New York afternoon, the pair came under selling pressure in New Zealand today and retreated again to 104.35 in Asian morning.

Dollar's weakness after Friday's fall to a 6-week trough at 104.28 suggests re-test of daily support at 104.19 would be seen after consolidation, break there would signal erratic decline form 109.94 (Jun) has once again resumed and extend to 103.90/00.
Offers are now seen at 104.50/60 and more above at 104.70/80 with stops building up above there whilst initial bids are noted at 103.70/80.

Data to be released today :
Japan market holiday, UK Rightmove house price.
U.S. national activity index and Canada new housing index on Monday.

 

[AceTRaderForex]

AceTraderFx Sept 22: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 22 Sept 2020 05:30GMT

EUR/USD - 1.1760... The single currency edged up to 1.1871 in Asian morning, however, the pair met renewed selling there and tumbled to 1.1776 in European morning due partly to a selloff in European stocks. The pair continued to ratchet lower and fell to a 1-month bottom at 1.1731 in New York morning on safe-haven usd buying before staging a short-covering rebound to 1.1774 in New York afternoon only to retreat again to 1.1754 in Asian morning today.

As euro has retreated again after meeting renewed selling at 1.1774, suggesting the recovery from 1.1731 has ended and consolidation with downside bias remains, below 1.1731 would extend decline from September's 2-year peak at 1.2011 to 1.1712, then 1.1697.
Offers are now seen at 1.1770/80 with stops building up above there whilst initial bids are noted at 1.1670/80.

Pay attention to EU consumer confidence at 14:00GMT. Street forecast is for a slight uptick to -14.6 from previous reading of -14.7.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 23 Sept 2020 05:30GMT

USD/JPY - 105.16... Although the greenback retreated initially in Asia yesterday to 104.47, then marginally lower to 104.41 in European morning, price erased its losses and rallied to an intra-day high at 105.07 in New York morning on usd's broad-based strength together with hawkish comments from Chicago Fed President Evans. The pair then weakened to 104.87 in Australia today on profit taking before rising above yesterday's 105.07 top to 105.19 in Tokyo morning as Japanese markets resumed trading after 2-days of holiday.

Intra-day break above Tuesday's 105.07 top signals corrective rise from Monday's 6-month trough at remains in progress and marginal gain is likely, however, offers at 105.30/40 would cap upside and yield another retreat.
Below 104.87 would indicate a top has been made and bring weakness to 104.41 later.

Pay attention to the release of U.S. manufacturing and services PMIs at 13:45GMT. Street forecasts are 53.1 and 54.7 vs previous readings of 53.1 and 55.0 respectively. One should also keep an eye on comments from Fed officials as several of them are scheduled to speak today during New York session.

 

[AceTRaderForex]

AceTraderFx Sept 24: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 24 Sept 2020 05:30GMT

EUR/USD - 1.1662... The single currency staged a brief recovery fm European low at 1.1673 to 1.1718, however, renewed selling interest there knocked price down and the pair fell to a 2-month bottom at 1.1652 in New York afternoon on usd's continued strength together with cross-selling of euro especially vs sterling. The pair then staged a short-covering rebound to 1.1680 in Asian morning today before retreating again.

Euro's fall to a 2-month trough at 1.1652 yesterday suggests decline from September's 2-year peak at 1.2011 remains in progress and further weakness to 1.1620/30 would be seen after consolidation.
Offers are now seen at 1.1670/80 and more above at 1.1690/00 with stops building up above there whilst initial bids are noted at 1.1610/20.

Pay attention to the release of German Ifo business climate and current conditions at 08:00GMT.
Street forecasts are 93.8 and 89.5 vs previous readings of 92.6 and 87.9 respectively.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 25 Sept 2020 05:30GMT

EUR/USD - 1.1667... The single currency swung wildly in hectic trading yesterday as despite edging up to 1.1680 in Asia, price fell to an 8-week bottom at 1.1627 at New York open on usd's continued strength. However, the pair then erased its losses and rose to 1.1687 in New York afternoon on profit-taking in usd together with cross-buying of euro especially vs sterling.

Although euro's rebound from yesterday's 8-week trough at 1.1627 suggests decline from September's 2-year peak at 1.2011 has possibly made a temporary low there.
Reckon offers at 1.1690/00 would cap upside and yield another retreat later.

In the absence of major economic data from the euro area today, pay attention to comments from ECB policymakers Francois Villeroy and Pablo Hernandez de Cos, both of whom are scheduled to speak at 06:45GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 29 Sept 2020 05:30GMT

USD/JPY - 105.49... The greenback swung sideways in directionless Monday's session. The pair met renewed selling at 105.68 in New Zealand and dropped to session low s at 105.27 on cross-buying in jpy. However, price then pared its losses and rebounded strongly to 105.66 in New York morning only to retreat again to 105.35 in Tokyo morning today.

Dollar's intra-day retreat suggests further choppy trading below last Friday's high at 105.69 would continue, however, bids at 105.20/30 should contain downside and yield another rebound, above 105.69 would extend upmove from last Monday's 6-month trough at 104.01 to 105.90/00.

Pay attention to the release of US consumer confidence at 14:00GMT. Street forecast is for an uptick to 89.2 from previous reading of 84.8. There are also a handful of Fed speakers who are due to speak today but pay particular attention to Fed Vice Hair Richard Clarida's speech at 15:40GMT.

 

[AceTRaderForex]

AceTraderFx Oct 05: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 05 Oct 2020 05:30GMT

USD/JPY - 105.54... Although the greenback briefly dipped to 105.29 in New Zealand today, price found renewed buying and gained to 105.60 in Asian morning due to risk-on trade on optimism that U.S. President Donald Trump may be discharged from the hospital later today.

Despite dollar's retreat from last Wednesday's 2-week high at 105.80 and Friday's selloff to 104.95, subsequent strong rebound to 105.60 today suggests pullback has ended and consolidation with upside bias remains for re-test of 105.80, break would extend upmove from September's 6-month trough at 104.01 to 106.26/29 but 106.50/55 should remain intact.
Bids are noted at 105.35-25 with stops below 105.00 while offers are tipped at 105.75/80 with more above and stops above 106.20.

On the calendar front, U.S. will release Markit Services PMI at 13:45 GMT, followed by ISM Non-Manufacturing PMI at 14:00 GMT. We also have a few Fed officials due to speak, please refer to our EI page for more details.

 

[AceTRaderForex]

AceTraderFx Oct 06: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 06 Oct 2020 05:30GMT

EUR/USD - 1.1787... The single currency went through a volatile session on Monday. The pair found renewed buying at 1.1707 in New Zealand and rose to 1.1735 in Asian morning. Despite retreating to 1.1720 in European morning, price then rallied to a near 2-week high at 1.1797 in New York morning on improved risk sentiment on optimism that U.S. Democrats and Republicans could agree on the new stimulus plan before retreating to 1.1772 on profit-taking. Price then rebounded again to 1.1793 at European open as U.S. President Trump was discharged.

Euro's resumption of upmove from September's 8-week trough at 1.1613 to 1.1797 yesterday suggests decline from September's 2-year peak at 1.2011 has made a temporary bottom and consolidation would be seen before heading to 1.1840/50, however, overbought condition should keep price below 1.1870/71 and yield retreat.
Bids are noted at 1.1775-70 with stops below 1.1745-40 while offers are tipped at 1.1805/10 with move above and stops above 1.1850.

On the data front, Germany will release industrial orders at 06:00 GMT and we have a number of ECB officials due to speak later with focus on President Christine Lagarde's speech, please refer to our EI page for more details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 07 Oct 2020 05:30GMT

EUR/USD - 1.1730... Although the single currency edged up to 1.1799 in European morning yesterday, price retreated to 1.1766 before briefly rising to a 2-week high at 1.1807 at New York open on cross-buying in euro, especially versus sterling. However, the pair then tumbled to 1.1733 near the close, then to 1.1726 in Asian morning today on active safe-haven usd buying after U.S. President Donald Trump halted recent coronavirus relief package talks.

Despite euro's erratic rise from September's 8-week low at 1.1613 to 1.1807 yesterday, subsequent selloff to 1.1726 today suggests temporary top is in place and consolidation would be seen before prospect of another fall to 1.1685, break would head to 1.1662/67 later.
Offers are tipped at 1.1740/45 with more above and stops above 1.1770 while bids are noted at 1.1700-95 with stops below 1.1650.

On the data front, Germany will kick off with industrial output at 06:00 GMT, followed by France current account, trade balance, imports, exports at 06:45 GMT and then Italy retail sales at 08:00 GMT. Traders should pay close attention to ECB President Christine Lagarde's speech at a Paris Europlace financial conference scheduled at 12:00 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 08 Oct 2020 05:30GMT

USD/JPY - 106.02... The greenback found renewed buying at 105.60 in Australia yesterday and rose above last Wednesday's 105.80 high to a 3-week high at 106.10 in Europe on cross-selling in jpy together with rise in U.S. stock futures before retreating to 105.86 in New York morning on profit-taking. The pair then recovered and re-tested 106.10 at Asian open today before easing.

Dollar's yesterday's rise to 106.10 suggests upmove from September's 6-month trough at 104.01 has resumed and further headway to 106.26/29, then 106.50/55 would be seen after consolidation, however, loss of upward momentum should cap price below 106.70/75 today.
Bids are noted at 105.90-85 with stops below 105.70-60 while offers are tipped at 106.20 with more above and stops above 106.55/60.

On the data front, U.S. will release initial jobless claims and continued jobless claims at 12:30 GMT, with street forecasts at 820k and 11.400M respectively versus 837k and 11.767M prior. We also have a few Fed officials due to speak in New York session, please refer to our EI page for more details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 09 Oct 2020 05:30GMT

USD/JPY - 105.86... The greenback moved broadly sideways on Thursday as focus was on euro and sterling. Although dollar re-tested Wednesday's 3-week high at 106.10 at Asian open, price retreated to 105.93 in European morning and then traded narrowly in subuded New York session and then weakened to 105.82 in Asian morning today.

Dollar's resumption of upmove from September's 6-month trough at 104.01 to 106.10 on Wednesday suggests medium term decline from March's 111.71 high has made a temporary bottom and intra-day retreat would bring choppy sideways swings before heading to 106.50/55, however, loss of momentum should cap price below 106.70/75 today.
Bids are noted at 105.85-80 with stops below there while offers are tipped at 106.20/30 with stops above 106.50.

On the data front, U.S. will release wholesale inventories and wholesale sales at 14:00 GMT.
Traders should also pay close attention to headlines in regards to U.S. stimulus plans as risk sentiment should increase if passed by U.S. President Donald Trump.

 

[AceTRaderForex]

AceTraderFx Oct 12: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 12 Oct 2020 05:30GMT

EUR/USD - 1.1816... Although the single currency rallied to a 17-day high at 1.1831 near New York close on Friday, price opened lower today and fell to 1.1799 (Reuters) in New Zealand on profit-taking and cross-selling in eur/jpy cross before rebounding to 1.1823 and the swings sideways in Asian morning.

Euro's rally on Fri and then break of last Tuesday's 1.1807 high to 1.1831 suggests recent upmove from September's 8-week trough at 1.1613 to retrace early decline from 2020 27-month peak at 1.2011 (September) has resumed and expect consolidation before prospect of another rise to 1.1896/00, however, overbought condition may cap price below 1.1917 and yield retreat.
Bids are noted at 1.185-10 with stops below there while offers are tipped at 1.1860/70 with more above and stops above 1.1900.

On the data front, Germany will release wholesale price index at 06:00 GMT and we have a few ECB officials due to speak later, please refer to our EI page for more details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 14 Oct 2020 05:30GMT

USD/JPY - 105.33... Although the greenback found renewed buying at 105.29 in Australia yesterday and rose to 105.62 in New York morning on active safe-haven usd buying, price retreated to 105.31 in Asian morning today on cross-buying in jpy.

Despite dollar's resumption of upmove from September's 6-month trough at 104.01 to a 3-week high at 106.10 last Wednesday, subsequent fall to 105.25 on Monday suggests temporary top is made and as 105.62 has capped recovery, consolidation with downside bias remains for weakness to 104.95, break would head to 104.60/65 but 104.41 may hold today.
Offers have been lowered to 105.35/40 with stops above 105.60/65 while bids are noted at 105.10-00 with more below stops below 104.50.

On the calendar front, U.S. will release PPI, core PPI at 12:30 GMT and then Redbook at 12:55 GMT.
We also have a few Fed officials due to speak in New York session, please refer to our Economic Indicators page for more details.
Also, traders should keep an eye out for any U.S. stimulus headlines.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 15 Oct 2020 05:30GMT

USD/JPY - 105.25... The greenback initially retreated to 105.31 in Asian morning yesterday before rebounding to 105.51 at European open, however, the pair then fell to a 9-day low of 105.04 in New York on usd's weakness due to continued standstill in U.S. stimulus relief package before recovering to 105.29 in Asian morning today on cross-selling in the Japanese yen.

Despite dollar's erratic rise from September's 6-month trough at 104.01 to a 3-week high at 106.10 last Wednesday, subsequent fall to 105.04 yesterday suggests temporary top is in place and intra-day rebound would bring choppy sideways swings before prospect of another decline, however, loss of momentum should prevent steep drop below 104.95 and 104.75/77 should contain downside.
Offers are tipped at 105.30/35 with more above and stops above 105.60/65 while bids are noted at 104.95 with stops below there.

On the calendar front, U.S. will release weekly jobless claims and continued jobless claims at 12:30 GMT, with street forecast at 825k and 10.700M respectively versus prior readings of 840k and 10.976M.
We also have a few Fed officials due to speak, please refer to our Economic Indicators page for more details.

 

[AceTRaderForex]

AceTraderFx Oct 16: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 16 Oct 2020 05:30GMT

USD/JPY - 105.30... The greenback found renewed buying at 105.09 in Australia yesterday and rose to 105.34 in Europe before retreating to 105.19 at New York open. However, the pair later rose to 105.49 on active safe-haven usd buying due to continued standstill in U.S. coronavirus aid talks before retreating to 105.28 in Asian morning today on cross-buying in the Japanese yen.

Although dollar's fall from last Wednesday's 3-week high at 106.10 to 105.04 suggests upmove from September's 6-month trough at 104.01 has made a temporary top, subsequent rebound and yesterday's gain to 105.49 signals as long as 105.18/20 holds, consolidation with mild upside bias would be seen, however, reckon 105.82 would cap upside and yield retreat later.
Some bids are noted at 105.25-20 with stops below there while offers are tipped at 105.55/60 with stops above 105.80.

On the calendar front, U.S. will release a slew of data and focus will be on retail sales and retail sales ex-autos due out at 12:30 GMT, with street forecast at 0.7% and 0.5% respectively versus prior readings of 0.6% and 0.7%.
Trader should continue to pay attention to U.S. stimulus talks headlines.

 

[AceTRaderForex]

AceTraderFx Oct 19: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 19 Oct 2020 05:30GMT

USD/JPY - 105.41... Although the greenback dipped to 105.34 in New Zealand today, price found renewed buying and briefly rose to 105.50 at Asian open on cross-selling in the Japanese yen before easing.

Despite dollar's resumption of decline from October's 3-week high at 106.10 to 105.04 last Wednesday, subsequent rebound to 105.50 today suggests upmove from September's 6-month trough at 104.01 has made a temporary top and consolidation with mild upside bias would be seen, however, reckon 105.62 should cap upside and yield another fall to 104.95 (October's bottom) later, break needed to head to 104.63/65 before prospect of another bounce.
Offers are tipped at 105.55/60 with stops above there while some bids are noted at 105.30-25 with stops below 105.00-104.95.

On the data front, U.S. will only release NAHB housing market index at 14:00 GMT. Also, we have a few Fed officials due to speak in New York session and Chairman Jerome Powell is scheduled to speak at 12:00 GMT. Please refer to our EI page for more details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 20 Oct 2020 05:30GMT

EUR/USD - 1.1767... The single currency went through a volatile session on Monday. Although price retreated from 1.1726 in New Zealand to 1.1704 shortly after European open, price found renewed buying and later rose to 1.1793 in New York on usd's weakness due to return of risk sentiment on rally in global equities before weakening to 1.1765 on profit-taking.

Despite euro's fall from October's 2-1/2 week high at 1.1831 to 1.1689 last Thursday, subsequent rebound to 1.1745 on Friday, then yesterday's rise above this level to 1.1793 suggests temporary low is in place and range trading would be seen ahead of European open before prospect of another upmove to 1.0807/10, then possibly re-test of 1.1831.
Bids are noted at 1.1765-60 with stops below 1.1745 while offers are tipped at 1.1810/15 and stops above there.

On the calendar front, Germany will kick start with producer prices at 07:00 GMT then EU current account at 08:00 GMT.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 21 Oct 2020 05:30GMT

USD/JPY - 105.39... The Japanese yen went through a roller-coaster ride on Tuesday. Although dollar found renewed buying at 105.36 in Australia and rose to 105.61 at Asian open, then ratcheted higher to a 1-week high of 105.74 shortly after New York open on cross-selling in jpy, price later retreated to 105.43 on usd's broad-based weakness and then lower to 105.36 in Asian morning today.

Although dollar's erratic rise from last Wednesday's 11-day low of 105.04 to 105.74 yesterday suggests recent decline from October's 3-week high at 106.10 has made a temporary low, subsequent retreat signals recovery has possibly ended, below 105.18/20 would head back to 105.04, then re-test of October's 104.95 trough but break needed to 104.70/80.
Offers are tipped at 105.50/55 with stops above 105.80/85 while bids are noted at 105.20 with more below and stops below 105.00-104.95.

On the calendar front, although U.S. will only release weekly MBA mortgage applications at 11:00 GMT, we have some Fed officials scheduled to speak in New York session, please refer to our EI page for more details.

 

[AceTRaderForex]

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

Intra-Day Market Moving News and Views
Update Time: 22 Oct 2020 05:30GMT

USD/JPY - 104.69... The greenback met renewed selling at 105.52 in Australia yesterday and penetrated previous October's 104.95 low to a near 1-month bottom at 104.35 in New York morning on usd's broad-based weakness together with cross-buying in yen, especially versus euro before rebounding to 104.70 shortly after Asian open today.

Despite dollar's resumption of upmove from September's 6-month trough at 104.01 to 106.10 in October, subsequent retreat and yesterday's selloff to 104.35 suggests correction has ended and range trading would be seen before re-test of said key support, where break would extend medium term decline from 111.71 (March) to 103.85/90.
Therefore, selling on pullback is favoured and offers are tipped at 104.70/75 with stops above 104.95/00 while bids are noted at 104.30-25 with more below and stops below 104.00.

On the data front, U.S. will release initial jobless claims and continued jobless claims at 12:30 GMT, street forecasts are 860k and 9.500M respectively versus previous readings of 898k and 10.018M. Following that will be existing home sales and leading index change at 14:00 GMT, then KC Federal manufacturing index at 15:00 GMT.