AceTraderFx Nov 5: Intra-Day Market Moving News and Views (GBP/USD) - Page 2
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  1. #11

    Smile AceTraderFx Jan 13: Intra-Day News and Views ( GBP/USD) & data to be released today

    Intra-Day Market Moving News and Views
    13 Jan 2015
    01:29GMT

    GBP/USD - ...... Cable shrugged off early release of weak U.K. retails sales and rebounded in tandem with euro due to intra-day renewed weakness in the greenback in Asia.

    Reuters reported U.K. retail spending growth slowed in December after consumers splashed out on November's "Black Friday" bargains and prices continued to fall broadly, industry data showed on Tuesday.

    The British Retail Consortium (BRC) said year-on-year retail spending was 1.0% higher this December than a year ago, the weakest December growth since 2008 and a sharp contrast with November's 2.2% jump.

    Falling prices also weighed on spending. Shop prices were down by an average of 1.7% in December compared with 2013, the BRC said last week. Broader official data due for release at 09:30GMT is forecast to show consumer price inflation at a 12-year low of 0.7%.

    Taking lower prices into account, retail sales volumes rose an annual 2.6%, the same as in Dec 2013. Retail spending on the BRC's like-for-like measure -- which excludes new stores n more closely reflects how stores report sales to shareholders -- were 0.4% down on the year.

    Yesterday although the British pound fell from an intra-day high at 1.5195 to session low at 1.5099 in European morning on dlr's broad-based strength, cable pared its losses n rebounded strongly in tandem with euro to 1.5174 in NY morning. However, price met renewed selling there n retreated to 1.5136, weighed down by cross-selling of sterling vs euro.


    Tuesday will see the release of Japan's Current Account and Economic Watchers Poll, China's Trade Balance, Exports and Imports, Italy's Industrial Output, U.K.'s BRC Retail sales, CPI, PPI, RPI, U.S. Rebook and Federal Budget on Tuesday.
    Last edited by AceTraderForex; 01-12-2015 at 10:12 PM.

  2. #12

    Smile AceTraderFx Jan 21: Intra-Day News and Views (GBP/USD) & data to be released today

    Intra-Day Market Moving News and Views
    21 Jan 2015
    03:30GMT

    GBP/USD - ..... The pound pares yesterday's spectacular rally from Asian 1-week low of 1.5058 to as high as 1.5200 in NY morning. Some touted this move on possible M&A deal whilst some tied this to active buying of sterling vs yen & eur.
    However, renewed weakness in eur/usd in NY session later triggered broad-based long liquidation in sterling and cable retreated to 1.5136 in Asia, suggesting choppy trading below said yesterday's high would continue today.

    Range trading this morning was expected ahead of release of MPC's Jan minutes n U.K. jobs data at 09:30GMT.
    Offers then were tipped at 1.5160/70 and more with stops above 1.5200. Initial bids are noted at 1.5140-30 and more at 1.5110-00.

    With U.K. general election looming in May, Blooming reported lose-lose for business as U.K. election defies prediction.

    Businesses faced with a general election in the U.K. are finding that the only thing certain about the vote is its unpredictability. 3-1/2 months before the ballot, polls agree that neither PM David Cameron's Conservatives nor the Labour opposition are likely to win a majority. And the odds have already shortened on a rerun having to be held this year.

    That makes companies' forward planning increasingly difficult even as the U.K. economy gathers strength, inflation drops n interest rates look like staying at a record low. 16 of 36 economists surveyed by Bloomberg News identified political uncertainty as the biggest threat to Britain?s recovery, making it the second biggest risk after weak demand fm the euro area, which was cited by 18.

    Both parties' electoral agendas are also cause for concern. The U.K. Independence Party's growing popularity has forced Cameron to harden his stance on Europe and to pledge a referendum on EU membership by 2017 if he is re-elected, pitting him -- unusually for a Tory leader -- against the majority of British businesses. Meanwhile, Labour leader Ed Miliband's pledges to freeze energy prices and raise taxes have been greeted with unease.

    The EY ITEM Club also cited possible shocks from the U.K. election as a risk that "should not be neglected" in its winter forecast, published this week.

    Still, with polls consistently putting Labour n the Conservatives neck and neck, questions such as the likelihood of a referendum may not be resolved on May 7. A survey by YouGov Plc carried out on Jan. 18 n Jan. 19 found the Tories n Labour tied at 32 % of the vote -- not enough for either party to get a majority in Parliament. The poll of 1,747 people also put UKIP support at 15 %, with the Liberal Democrats at 8 % n the Greens at 7 %.

    Wednesday will see the release of New Zealand's CPI, Australia's Westpac Consumer Confidence, Japan's BoJ rate decision, Monetary Policy Statement, Leading Economic Index, BoE MPC vote outcome, U.K.'s Average Earnings, ILO unemployment rate, Claimant Count Unemployment Change, Canada's Wholesale Trade, BoC's rate decision, U.S. Housing Starts, Redbook and Building Permits.

  3. #13

    Smile AceTraderFx Feb 2: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    02 Feb 2015
    09:36GMT

    GBP/USD - ...... Although the British pound opened slightly higher in NZ adn rose to session high at 1.5100, price pared its gains and continued to retreat throughout Asia.
    Price briefly dropped to session low at 1.5030 in European morning, however, renewed buying there after the release of better-than-expected UK manufacturing PMI lifted the pair and cabled rebounded strongly to 1.5088.

    UK manufacturing PMI came in at 53.0, higher than forecast of 52.7.

    Bids are now seen at 1.5050/60 adn more below at 1.5030/40 with stops building up abv there whilst initial offers are noted at 1.5100/10, suggesting buying on dips is still favored.

    This morning Cable opened higher in tandem with eur/usd in NZ and briefly touched intra-day high of 1.5100 (Reuters) after tripping light stops above Friday's 1.5090 high but soon retreated and later eased to 1.5070 in Asia.

    Range trading below said Monday's high was expected until European open and as Friday's strong rebound from 1.4989 (NY) suggests further volatile consolidation above Jan's 17-month low at 1.4952 would continue, sideways move was expected.

  4. #14

    Smile AceTraderFx Feb 10: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    10 Feb 2015
    09:00GMT

    GBP/USD - ..... Reuters news reported Britain should hold a referendum on its membership of the EU as soon as possible to reduce the damaging impact of uncertainty, the head of business group British Chambers of Commerce (BCC) said on Tuesday.
    PM David Cameron has promised to renegotiate U.K.'s ties with the euro zone ahead of a referendum in 2017 if he is re-elected in May, but has said he would like to hold the membership vote sooner if possible.

    The opposition Labour party, which is neck-and-neck with Cameron's Conservatives in many polls ahead of May's national election, only plans to hold a referendum if there is a significant transfer of powers from London to Brussels.
    "Our members say that they actually want a referendum. There is obviously a debate around a referendum at the moment ... that is creating uncertainty, so if we are going to have a referendum we ought to do it quickly," John Longworth, Director General of the BCC told BBC radio. Longworth said if Labour was elected it would come under "huge pressure" to hold a referendum n that would create yet more uneasiness.
    "We have to come to a conclusion on these things and move on ... Uncertainty is bad for business," he said.

    In a speech to the BCC annual conference later, Longworth will say his members support staying in a reformed EU but warn of a situation where all decisions are made by, and for, the euro zone.
    "Without true reform, business support for the European project is far fm guaranteed.

    Earlier UK FinMin George Osborne says 'danger of a miscalculation leading to very bad outcome between Greece n Eurozone is increasing.'

    This morning Cable moves narrowly in quiet Asian trading after finding minor sup at 1.5200 just ahead of NY open Monday. Altough price staged a rebound in tandem with eur/usd, offers at 1.5245 capped intra-day bounce and price later traded inside a 1.5209-42 range for rest of NY session.

    Yesterday's weakness in sterling vs eur & yen in NY suggests intra-day downside bias remains for decline from Friday's 1-month high at 1.5353 to resume once present sideways move is over, so selling cable on recovery is favoured.
    At 09:30GMT, U.K. will release Dec industrial & manufacturing production.

  5. #15

    Smile AceTraderFx Feb 13: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    13 Feb 2015
    06:29GMT

    GBP/USD - ...... Breaking news, Bank of England's Deputy Governor Jon Cunliffe says allegations around HSBC raise serious issues around HSBC's conduct;
    -allegations around HSBC are certainly something which could be of relevance to us.
    He says impact of oil prices should come out of UK inflation within a year or so - BBC radio.
    -UK growth is robust, seeing signs UK has turned corner on productivity;
    -euro area in stronger position now to deal with a Greek exit from eurozone, but would be big event;
    -at the moment we are not seeing the conditions where we would reduce interest rates, do more QE.

    This morning Cable trades steadily in subdued Asian morning after yesterday's spectacular rally from 1.5209 in Europe to session high of 1.5415 (NY) after the BoE upgraded U.K. growth outlook n raised inflation expectation in its quarterly Inflation Report.
    Sterling's intra-day rally in hectic European trading triggered a series of buy stops above 1.5300, then 1.5360 and later above 1.5400.

    Expect sideways move below Thursday's 5-week high at 1.5415 to continue ahead of European open n with no U.K. data are due out, cable is likely to take cue from intra-day swings in the eur/usd.

  6. #16

    Smile AceTraderFx Mar 4: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    04 Mar 2015
    07:44GMT

    GBP/USD - ..... Cable rebounds right at European open as a wave of broad-based buying in sterling lifted the pound. Although price briefly fell below yesterday's 1.5344 low to 1.5340, buying interest above last week's bottom at 1.5333 quickly pushed price higher.
    Traders cited short-covering ahead of release of the very important U.K. February services PMI was the main factor behind the intra-day bounce.
    As mentioned in previous update, street forecast is looking for a mildly upbeat reading of 57.5 vs previous fig. at 57.2, a stronger number should trigger further buying spree in the sterling.

    For now, bids are noted at 1.5350-40 with fairly large stops below 1.5330 whilst offers are tipped at 1.5380/90 with stops above 1.5400.

    Earlier the pound moves narrowly in subdued Asian trading on Wednesday following yesterday's roller-coaster move. Despite staging a recovery to 1.5398 at Euroepan open, traders gave cable a bashing n knocked price to session lows of 1.5344 at NY open but only to bounce back to 1.5393 due to dlr's renewed weakness, however, price pared intra-day gain and fell back to 1.5357 in Australia before stabilising.

    Range trading above said yesterday's 1.5344 low is envisaged until the release of the last but most important U.K. February services PMI (the index showed the dominant services sector which accounts for 75% of activity in the UK economy).
    Street forecast is looking for 57.5 vs previous reading of 57.2, a stronger-than-expected number wud spark off brad-based short-covering in the pound.

  7. #17

    Smile AceTraderFx Mar 5: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    05 Mar 2015
    09:04GMT

    GBP/USD - ...... Cable finally gains a bit of temporary respite in hectic European trading after weakening to a near 3-week low of 1.5225 ahead of European open.
    Although st specs sold cable in Australia and knocked price from 1.5269, price remained under pressure in Asia and easily penetrated yesterday's 1.5250 low, price later fell to 1.5225 after tripping some stops below 1.5225.

    Looks like European traders are reluctant to test cable's downside as MPC meets and even though the BoE policy announcement will be a non-event.
    In the meantime, range trading above 1.5225 is expected with initial bids noted at 1.5235-25 with some stops (not large) below 1.5220.
    Offers are tipped at 1.5265/75 and more above with stops above 1.5300.

    British PM David Cameron on Thursday ruled out taking on opposition Labour party leader Ed Miliband in a head-to-head televised debate ahead of the May 7 national election.
    While the Conservatives and Labour are neck and neck in the polls, Miliband has the most to gain from a head-to-head debate as his personal ratings are far lower than Cameron's.
    A letter from Cameron's office said he would only take part in one debate and that it must include leaders from minor political parties, rejecting broadcasters' proposals to hold several debates, including a one-on-one debate with Miliband.

    "There should be one 90 minute debate between seven party leaders," the letter said. It proposed including the anti-European Union party UKIP, Scottish n Welsh nationalists, the Green party and the junior coalition partner Liberal Democrats.

  8. #18

    Smile AceTraderFx Mar 30: Intra-Day News and Views (GBP/USD) & data to be released today

    Intra-Day Market Moving News and Views
    30 Mar 2015
    00:07GMT

    GBP/USD - .... Cable briefly rebounded to intra-day high of 1.4901 ahead of Asian open on Monday on news of ruling Conservative party has a 4- point lead ahead of the Labour party.

    Reuters reported earlier British PM David Cameron's Conservatives have taken a 4 point lead over the opposition Labour Party on the eve of the start of official campaigning for a May 7 national election, a poll showed late on Sunday.

    The poll, by ComRes for ITV News and the Daily Mail newspaper, gave the Conservatives their largest lead in the polling series since September 2010.

    It put them on 36%, up 1 point from last week, Labour on 32%, down 3 points, the Liberal Democrats on 9%, UKIP on 12%, n the Greens on 5%.

    Underlining how volatile the election is, an earlier poll on Sunday showed Labour Party has taken a 4 point lead over Cameron's Conservatives after the first TV encounter of the campaign.

    This week will see the release of New Zealand Westpac consumer survey, German Buba monthly report, U.S. existing home sales and eurozone consumer confidence flash on Monday.

    Australian CB leading index, China HSBC manufacturing PMI, German and eurozone Markit manufacturing and services PMI, U.K. CPI, PPI and RPI, U.K. DCLG house price, U.S. core CPI, Redbook, Markit manufacturing PMI and new home sales on Tuesday.

    New Zealand trade balance, Swiss UBS consumer indicator, German Ifo business climate, U.S. durable goods and SNB quarterly bulletin on Wednesday.

    German GfK consumer sentiment, U.K. retail sales and CBI distributive trades, U.S. jobless claims and Markit services PMI on Thursday.

    Japan's household spending, CPI, unemployment rate and retail sales, U.K. Nationwide house price, Germany import price index, U.S. non-farm payrolls, unemployment rate, U.S. final GDP and University of Michigan consumer sentiment index on Friday.

  9. #19

    Smile AceTraderFx Mar 31: Intra-Day Market Moving News and Views (GBP/USD)

    Intra-Day Market Moving News and Views
    31 Mar 2015
    02:03GMT

    GBP/USD - ..... Cable showed muted reaction to release of upbeat U.K. consumer confidence (Gfk Mar index rose to a 12-year high) in Australia and the pound briefly slipped fm 1.4817 to 1.4787 in tandem with intra-day weakness in the euro in Asian morning.

    Despite Monday's strg rebound from a 1-week low of 1.4752 to 1.4843 in volatile NY session, anticipated weakness in the euro is likely to pressure the pound ahead of release of U.K. Q4 GDP & trade data.

    Offers are noted at 1.4820/30 with stop above 1.4845, more stops are touted above 1.4870.
    Minor bids are noted at 1.4780-60 with stops reported below 1.4750.

  10. #20

    Smile AceTraderFx Apr 2: Intra-Day News and Views (GBP/USD) & data to be released today

    Intra-Day Market Moving News and Views
    02 Apr 2015
    02:44GMT

    GBP/USD - ...... Although cable fell in tandem with euro in Asia on Wednesday and then tumbled to a fresh 1-1/2 week trough at 1.4740 in European morning despite the release of upbeat Markit/CIPS Mfg PMI for March, intra-day rebound in eur/usd lifted price to 1.4847 in NY morning before moving sideways in NY afternoon session.

    Yesterday's rebound from 1.4740 suggests further choppy trading inside early broad range of 1.5166 (post-FOMC high)-1.4689 would continue ahead of Friday's important U.S. non-farm payroll data and with mild upside bias and buying the pound on intra-day pullback is recommended today.
    Having said that, investors shud pay attention to the release of U.K. Markit/CIPS construction PMI at 08:30GMT.
    Market expects the reading to drop slightly to 59.5 from 60.1 in preceding month.

    At the moment, bids from various accounts are noted at 1.4810-00, 1.4785/80 and then 1.4760-50 with stops emerging below 1.4740.
    On the upside, offers are placed at 1.4860-70 and around 1.4890 with stops located just above 1.4900.

    Thursday will see the release of Australia's trade balance, U.K. Markit constructions PMI, U.S. jobless claims, Canada's import, export and trade balance, U.S. ISM New York index, durable goods and factory orders.

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