AceTraderFx Feb 25: Intra-Day Market Moving News and Views (EUR/USD)

[B]Intra-Day Market Moving News and Views
01 Apr 2015[/B] [I]08:24GMT[/I]

[B]EUR/USD[/B] - ...... Despite release of a slew of better-than-expected mfg PMIs from euro zone n its member countries, active cross-selling in euro kept price under pressure in European morning n price extended fall from Asian high of 1.0792 to 1.0742 b4 moving sideways.  

Offers are noted at 1.0760-70 n around 1.0780 with mixture of offers n stops emerging above 1.0800. On the downside, bids are placed at 1.0730/20 n around 1.0715 with stops located just below 1.0700.

Research group Markit said on Wed that French manufacturing PMI rose to a seasonally adjusted 48.8 in Mar, from 48.2 in the preceding month, German manufacturing PMI rose to a seasonally adjusted 52.8, from 52.4 in the preceding month, and euro zone’s manufacturing PMI rose to 52.2, from 51.9 in the preceding month.

[B]Intra-Day Market Moving News and Views
10 Apr 2015[/B] [I]02:34GMT[/I]

[B]EUR/USD [/B]- ...... Euro gains respite temporary respite in Asia after clocking up 4 consecutive days of losses. Although euro tumbled on Thur below last week's low at 1.0713 to a fresh 2-1/2 week trough at 1.0637 in NY due to renewed broad-based strength in the greenback n comments from IMF head Christine Lagarde (see prev. update), short-covering lifted price near NY close n price recovered to 1.0684 in Asian morning on Fri. 

Euro’s weakness since the beginning of this week suggests selling the single currency on intra-day recovery is favoured today. At the moment, offers are tipped at 1.0685/90, 1.0700-10 n then 1.0735/40 with stops building above 1.0750, whilst bids are noted at 1.0650-40 with stops below 1.0600.

It was reported Greece could suffer if it were forced to default on its payments n exit the euro zone, while the currency bloc is better able to weather such a shock than it was 4 years ago, the head of the IMF said on Thursday.
“I think it would be a terrible situation for the Greek people,” IMF MD Christine Lagarde said on CNBC in response to a question about a potential Greek exit from the currency bloc.
She added that the euro zone is now in a less vulnerable position due to its banking union n strengthened fiscal union.

[B]Friday [/B]will see the release of China CPI, PPI, France industrial output, UK industrial output, manufacturing production, Canada housing starts, unemployment rate, U.S. export price index, import price index and Fed budget.

[B]Intra-Day Market Moving News and Views
17 Apr 2015[/B] [I]07:43GMT[/I]

[B]EUR/USD [/B]- ...... The single currency went trough a 'mini' roller-coaster session in European morning. Although euro rose marginally above Asian high of 1.0787 to 1.0791 and then tanked to a fresh session low at 1.0738 on news from Kathimerini newspaper saying that overseas bank subsidiaries have been told to exit Greek debt exposure, renewed cross-buying in euro lifted price above 1.0800 level to 1.0804. 

At present, stops located just above yterday’s high of 1.0818 are in focus, however, offers from various accounts are placed at 1.0830-40 and around 1.0850.
On the downside, bids are noted at 1.0770-60 and then 1.0740-30 with mixture of bids and stops at 1.0720-10.

[B]Intra-Day Market Moving News and Views

22 Apr 2015 [/B] [I]06:27GMT[/I]

[B]EUR/USD[/B] - ...... Although euro retreated briefly from 1.0748 to 1.0727 after comments from ECB's Executive Broad Member Benoit Coeure (see our prev. MMN), price rebounded at shortly after European open n climbed to a fresh session high of 1.0757. 

At the moment, offers are noted at 1.0760-70 with stops reported above 1.0785. On the downside, bids are placed at 1.0730/25, 1.0720-10 n more below with fairly large stops touted below yesterday’s low at 1.0660.
No major EZ data are due out today except for a slew of eco. releases from Italy.

This morning although euro rallied from 1.0660 to 1.0782 after EZ FinMins removed deadline of Greek fiscal reforms, euro retreated in NY afternoon after buying evaporated. Despite trading narrowly in Australia, traders sold euro on the New York Times report of the ECB is demanding a 50% cut in the value of collateral Greek banks have deposited with the central bank for loan. Euro briefly hit intra-day low of 1.0717 before stabilising.

Looks like range trading is in store until European open as market awaits reaction of the NYT report fm European traders. No major EZ data are due out today except for a slew of eco. releases from Italy.

[B]Intra-Day Market Moving News and Views
23 Apr 2015[/B] [I]06:01GMT[/I]

[B]EUR/USD[/B] - ...... Although Gfk said that its index of Germany's consumer climate rose to the highest in 13.5 years at 10.1 in May, euro showed muted reaction to the data as it missed the median forecast of economist at 10.2. Earlier, cross-selling in euro pressured the EUR/USD pair below 1.0700 level to 1.0691 in Asia before staging a recovery to 1.0718.  

Investors are now awaiting the release of Markit PMIs for France, Germany and euro zone for more clues on the economic condition in euro zone area.

At the moment, offers are tipped at 1.0720-30, 1.0740/45 and then around 1.0750 with stops located just above 1.0760.
On the downside, bids are touted at 1.0685/80, 1.0670-60 and then 1.0640/30 with stops emerging just below 1.0620.

[B]Intra-Day Market Moving News and Views
28 Apr 2015[/B] [I]06:48GMT[/I]

[B]EUR/USD[/B] - ...... The single currency moved inside in a relatively narrow range of 1.0867-1.0884 in subdued Asian trading before staging a brief rise to 1.0896 shortly after European open. 

Investors showed muted reaction to the comments from ECB’s Noyer (see our previous MMN).

In European morning, INSEE showed the French consumer confidence rose in April, French consumer confidence rose to 94 from 93 in the preceding month, in line with market’s expectation.

At previously mentioned, bids are noted at 1.0850/45 and then 1.0820-10 with mixture of bids and stops located at 1.0800-1.0700.
On the upside, offers are reported at 1.0920-30 with some stops building above 1.0960.

ECB’s Noyer, on French Radio talked it’s possible for French 2016 growth to start creating jobs, possible for French growth to be above 1.5% next year; and substantial reform efforts still required for French job creation, a reshuffle of Greek negotiating team can help negotiations & reshuffle does not however change substance, which is about the reforms needed.

[B]Intra-day Market Moving News and Views
04 May 2015[/B] [I]00:05GMT[/I]

[B]EUR/USD - 1.1191[/B].. A piece of mildly euro-supportive news which came out during NZ morning, Reuters reported negotiations between Greece and its international lenders over reforms to unlock remaining bail out aid have made headway and an agreement could be closer this month, a gov't official said on Sunday. 

“There were very important steps made at the Brussels Group (talks) which bring an agreement nearer,” the official said, declining to be named. “All sides aim for an agreement at a Brussels Group level within May.”

The talks between technical teams from Athens and EU/IMF/ECB lenders are expected to resume on Monday, the official said after the country’s chief negotiators met with PM Alexis Tsipras.

A EZ official also said there was convergence on some issues but sticking points remained n that talks were expected to continue through Wednesday.
Athens hopes that a successful conclusion of the negotiations at the so-called Brussels Group could lead to recognition of the progress by the Eurogroup of EZ finance ministers n bring some liquidity relief.

[B]Data to be released this week: [/B]

Japan market holiday, Australia building approvals, China manufacturing PMI, Swiss manufacturing PMI, Italy manufacturing PMI, France manufacturing PMI, Germany manufacturing PMI, UK market holiday, EU manufacturing PMI, sentix index, U.S. factory orders and durable goods [B]on Monday.[/B]

Australia new home sales, exports, imports, trade balance, RBA rate decision, France budget balance, UK construction PMI, EU producer prices, Canada imports, exports, trade balance, U.S. trade balance, redbook retail sales, ISM non-manufacturing and services PMI [B]on Tuesday.[/B]

New Zealand labour cost, unemployment rate, Japan market holiday, Australia retail sales, China services PMI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, retail sales, UK services PMI, Canada Ivey PMI and U.S. ADP employment [B]on Wednesday.[/B]

Australia unemployment, Japan services PMI, Germany factory orders, France exports, imports, trade balance, U.S. jobless claims and Canada building permits [B]on Thursday.[/B]

Japan BoJ meeting minutes, Australia RBA monetary policy statement, China exports, imports, trade balance, Swiss unemployment rate, Germany industrial production, exports, imports, trade balance, current account, Italy industrial output and UK trade balance [B]on Friday.[/B]

[B]Intra-day Market Moving News and Views
05 May 2015[/B] [I]08:24GM[/I]T

[B]EUR/USD [/B]- ....... ECB's Noyer adds 'there is a risk that Greek banks may run out of collateral to obtain emergency ECB liquidity if the situation continues.' ....more on this, read earlier report.

Despite a brief bounce to 1.1147 at European open, renewed selling interest quickly emerged n knocked price down below Mon’s low at 1.1122 to 1.1091.

Looks like consolidation with downside bias wud be seen ahead of the release of euro zone’s Producer Price reports at 09:00GMT n selling the euro on intra-day recovery is recommended.

Offers from various accounts are noted at 1.1115/20 and more at 1.1130-40 with a mixture of offers n stops located at 1.1150-60.
On the downside, bids are placed at 1.1060-50 and then 1.1045/40 with stops emerging just below 1.1020.

[B]Intra-day Market Moving News and Views
06 May 2015[/B] [I]08:24GMT[/I]

 [B]EUR/USD[/B] - ....... Although euro extended gain from Tuesday's low at 1.1066 to 1.1267 in European morning, release of mixed Service PMIs from euro zone and its member countries checked intra-day gain there and price subsequently retreated in tandem with the British pound to 1.1226.   

Markit research firm showed on Tue: Euro Zone Services PMI rose to 54.1 from previous reading of 53.7, German Services PMI fell to 54.0 from 54.4 in the preceding month; French Services PMI rose to a seasonally adjusted 51.4 from 50.8 in the preceding month; Italy Service PMI rose to 53.1 from 51.6 in previous month.

At the moment, bids from various accounts are reported at 1.1220-10 and then 1.1190/85 with a mixture of bids and stops at 1.1170-60.
On the upside, offers are placed 1.1260-70 and more at 1.1285/90 with stops building up above 1.1300.

[B]Intra-day Market Moving News and Views
07 May 2015 [/B] [I]02:07GMT[/I]

[B]EUR/USD[/B] - .......EU officials say Athens needs to make concessions so the Eurogroup can at least register significant progress on Monday, possibly enabling the ECB to let Greek banks buy more short-term gov't debt.  

But Thomas Wieser, head of the Eurogroup Working Group which prepares decisions for the ministers, told CNBC late on Tuesday there were still outstanding issues in areas ranging from tax to labour market reform.
While Reuters reported many issues remain unsolved between Greece and its lenders and agreement at next Mon’s Eurogroup meeting of euro zone FinMins is now not possible, Eurogroup chair Jeroen Dijsselbloem said.

Dijsselbloem was speaking after talks in Paris on Wed with French FinMin Michel Sapin, who also acknowledged to reporters that no deal was imminent.

Last night the single currency stabilised after intra-day rally to as high as 1.1370 on dollar’s broad-based weakness after the release of less-than-expected ADP employment data.
Bids was located at 1.1320-10 with mixture of bids and stops seen at 1.1300. On the upside, offers was tipped at 1.1370-80 and more at 1.1400.

[B]Thursday[/B] will see the release of Australia unemployment, Japan services PMI, Germany factory orders, France exports, imports, trade balance, U.S. jobless claims and Canada building permits.

[B]Intra-day Market Moving News and Views
12 May 2015[/B] [I]06:50GMT[/I]

[B]EUR/USD - 1.1190[/B]... Despite initial weakness to 1.1134 in Asia, cross-buying in euro and buying interest above 1.1131 (NY) and lifted price to 1.1190, then 1.1201 in European morning before easing.  

At the moment, bids are placed at 1.1170/65 and around 1.1150 with stops building up below 1.1130.
Whilst on the upside, offers from various accounts reported at 1.1210-20 and then 1.1220/25 with mixture of offers and stops at 1.1240-50.

Bank of France said earlier: estimates Q2 French GDP growth is at 0.3% (1st estimate) and business climate indicator for industrial sector rises to 98 in April from unrevised 97 in March. Also, the business climate indicator for services sector rises to 95 in April from revised 94 in March.’

[B]Intra-day Market Moving News and Views
15 May 2015[/B] [I]07:18GMT[/I]

[B]EUR/USD[/B] - ...... Euro moved in a choppy fashion as despite marginal gain to 1.1418 in Asia, price retreated briefly but sharply to 1.1371 before rebounding to 1.1420 in European morning due partly to cross-trading in Euro.  

Expect fund flows would continue to dominate the market ahead of NY open due to the lack of important economic events in euro zone and its member countries.
At present, fresh bids from various accounts are building up at 1.1375/70 and more at 1.1360-50 with stops emerging below 1.1340.
On the upside, offers are touted around 1.1440 and more located further out in 1.1480-1.1500 region.

[B]Intra-day Market Moving News and Views
19 May 2015[/B] [I]07:49GMT[/I]

[B]EUR/USD - 1.1170[/B]... Despite a brief recovery from 1.1277 to 1.1307 in European morning, price tumbled sharply lower to 1.1160 following comments from ECB's Executive Board member Benoit Coeure said that the central bank intends to increase its purchases of euro-area assets in May and June ahead of an expected low-liquidity period in the summer.(see our previous MMN).  

At present, offers are building up from 1.1180 up to 1.1200 with mixture of offers and stops at 1.1220-30.
On the upside, bids are placed at 1.1150-1.1140 and around 1.1120 with buying interest from sovereign accounts around 1.1100.

[B]Intra-day Market Moving News and Views
21 May 2015[/B] [I]07:36GMT[/I]

[B]EUR/USD[/B] -....... Euro swung wildly after European open on Thursday. Despite retreating from Asian high of 1.1130 to 1.1079 at European open, buying interest above Wednesday's low at 1.1062 lifted price.

Euro jumped to 1.1143 after data showed an improvement of France’s PMIs in May but only retreated to 1.1106 following the release of downbeat Germany’s PMIs.

On Thursday, market research group Markit said that its preliminary French manufacturing PIM inched up to a seasonally adjusted 49.3 this month from a final reading of 48.0 in April, while the preliminary services PMI rose to a seasonally adjusted 51.6 this month from 51.4 in April.
Later, Markit said that its preliminary German manufacturing PMI declined to a seasonally adjusted 51.4 this month from a final reading of 52.1 in April, while the preliminary services PMI fell to a seasonally adjusted 52.9 this month from 54.0 in April.

[B]Intra-day Market Moving News and Views
05 Jun 2015 [/B] [I]06:30GMT[/I]

[B]EUR/USD [/B]- ......  Bundesbank Chief Weidmann says 'key factor behind subdued inflation outlook is sharp drop in crude oil prices; growing labour mkt shortages are supply-side risk to growth and could lead to increased price pressures; foreign trade hampered by dampening global dynamics but also buoyed by euro's depreciation and strengthening cyclical recovery in eurozone.'

Earlier it was reported that Greece’s leftist-led government may call early elections if the country’s international lenders do not soften their terms for a cash-for-reforms deal, suggested by the Deputy Social Security Minister Dimitris Stratoulis, a hardliner in the gov’t.
“The lenders want to impose hard measures. If they do not back down from this package of blackmail the gov’t … will have to seek alternative solutions, elections,” he said.

Stratoulis is closer to the far-left faction of the ruling Syriza party, and it was not unclear if the statement represented a wider view within the party. But it underlined the deep anger at the proposal from lenders and a growing sense that the party will seek alternatives to avoid accepting the plan.

Greece delayed a key debt payment to the IMF due on Friday as PM Alexis Tsipras, facing fury among his leftist supporters, demanded changes to tough terms from international creditors for aid to stave off default.

[B]Intra-day Market Moving News and Views
08 Jun 2015[/B] [I]06:33GMT[/I]

[B]EUR/USD [/B]- ..... Although euro edged higher after opening lower to 1.1083 in NZ and then staged a brief bounce to 1.1125 at European open due to release of upbeat Germany's trade surplus and industrial data, renewed selling interest quickly emerged and knocked price down below 1.1100 level again to 1.1087.  

On Mon, Destatis said that Germany’s trade balance rose to 22.3 bln euros, from 19.4 bln euros in the preceding month whose figure was revised up from 19.3 bln euros.
In a separate report, Destatis said that German industrial production rose to a seasonally adjusted annual rate of 0.9% in April, from -0.4% in the preceding month whose figure was revised up from -0.5%.

On Friday Euro tumbled from 1.1280 to 1.1049 in NY morning as upbeat U.S. jobs reports triggered broad-based buying in the greenback. Despite staging a recovery to 1.1136, price edged lower after NZ open on Monday and fell to 1.1084.
Euro is expected to remain under pressure ahead of European open and selling the eur/usd pair on recovery is recommended.

[B]Intra-day Market Moving News and Views
09 Jun 2015 [/B] [I]07:48GMT[/I]

[B] EUR/USD [/B]- … Although euro ratcheted higher after meeting renewed buying at 1.5273 at Asian open and rose to 1.1330 and then 1.1345 ahead of European open, broad-based short-covering in the greenback knocked price down sharply to 1.1256 in European morning before staging a recovery.

Looks like choppy sideways move is likely to be seen ahead of the release of the second estimate of first quarter euro zone GDP at 09:00GMT.
At the moment, bids from various accounts are reported at 1.1250-40 and more at 1.1220-10 with stops located just below 1.1200.
On the upside, offers are tipped at 1.1290-00 and around 1.1320 with stops building above 1.1340.

[B]Intra-day Market Moving News and Views
10 Jun 2015[/B] [I]07:23GMT[/I]

[B]EUR/USD[/B] - 1.1338... Although euro moved in a volatile fashion in Asia and as well as in European morning, price eventually penetrated Tuesday's high of 1.1345 due to intra-day rise in Germany 10-year Bund yield and rose to 1.1357 before easing. 

At present, bids from various accounts are building up at 1.1340-30 and then 1.1320-10 with mixture of bids and stops at 1.1300-1.1290.
On the upside, offers are tipped at 1.1370-80 with stops building up just above 1.1400.

[B]Intra-day Market Moving News and Views
12 Jun 2015 [/B] [I]07:32GMT[/I]

[B]EUR/USD[/B] - ...... Although euro came under renewed selling pressure after a brief rise to 1.1264 in Asia and then fell to 1.1216 at European open, investors were reluctant to pressure price lower in subdued European morning trading and euro later staged a bounce to 1.1247.  

Investors are now awaiting the release of euro zone’s industrial production data at 09:00GMT.
Until then, choppy trading with a soft bias is envisaged. At present, offers are touted at 1.1270-80 and then 1.1295/00 with mixture of offers and stops at 1.1310-20, whilst bids are tipped in 1.1200-1.1180 region.

[B]Intra-day Market Moving News and Views
5 Jun 2015[/B] [I]09:00GMT[/I]

[B]EUR/USD -[/B] ..... Despite initial gap-down open in NZ today around 1.1225 vs Friday's close around 1.1264 to an intra-day low of 1.1189 at European open.

Euro shrugged off weekend’s bearish report of a collapse in Sunday’s Greek debt talk and climbed back to where it left off to 1.1261 due to broad-based short-covering in euro.

The intra-day roller-coaster move means damn if you sell (in early Europe) and damn if you buy (on present pullback) as price continues to swing wildly.

Looks like some layers of bids are placed at 1.1200-1.1190 and offers tipped at 1.1260/70 with stops reported above Fri’s high at 1.1297.
As price is currently trading near the middle of intra-day range, best to stand aside for the time being.