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

[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.

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

[B]EUR/USD[/B] - ...... Although euro rebounded after intra-day retreat from Asian high of 1.1266 to 1.1242 in European morning and then climbed marginally higher to 1.1278, active selling in eur/chf cross (rumours of safe-haven flows into franc) checked intra-day gain there so far and price retreated to 1.1255.  

Investors are now awaiting for the release of euro zone’s inflation data at 09:00GMT.
At present, bids are touted at 1.1240-30 and around 1.1220 with stops building below 1.1200.
On the upside, offers from various accounts are placed at 1.1270-80, then 1.1295/00 with stops just above 1.1300.

[B]Intra-day Market Moving News and Views
22 Jun 2015[/B] [I]08:26GMT[/I]

[B]EUR/USD [/B]- 1.1327.. Euro tumbles to intra-day low of 1.1315 as initial market optimism over a Greek debt deal quickly fizzled out once the single currency ran into heavy offers at 1.1404 shortly after European open as market awaits status of several round of talks between Greece and its international creditors.  

Reuters reported Greek PM Alexis Tsipras will meet EC President Jean-Claude Juncker, ECB President Mario Draghi, IMF head Christine Lagarde n EZ FinMins chairman Jeroen Dijsselbloem at 09:00 GMT.
EZ finance ministers are due to meet 90 minutes later and a summit of prime ministers n presidents is due at 17:00 GMT (originally reported at 15:00GMT, pls check later on for precise time).

Look like another roller-coaster session is in store in Europe n NY morning as traders keep a close watch on breaking news on Greece.
Offers are tipped at 1.1355/65 and more above with 1st layer of stops touted above 1.1410.
Initial bids are noted at 1.1215-05 with stops reported below 1.1290.

[B]Intra-day Market Moving News and Views
23 Jun 2015 [/B] [I]07:51GMT[/I]

[B]EUR/USD[/B] - ..... Although Euro recovered after a brief breach of Asian sup at 1.1257 to 1.1242 in European morning due to the release of upbeat PMI reports from France and Germany, renewed selling due to concerns over Greek debt after official comments capped such gain at 1.1282.  

At present, investors are awaiting the release of euro zone PMIs at 09:00GMT, whilst Italy’s industrial production n retail sales are to be released at 08:00GMT n 09:00GMT respectively.

Offers are reported at 1.1290-00 and then 1.1310/15 with mixture of offers and stops at 1.1320-30.
On the downside, bids from various accounts are placed at 1.1240-1.1230 and then 1.1210/05 with stops building just below 1.1200.

Earlier Austrian FinMin said that there would be no agreement on Greek proposals without a concrete plan for implementation, laws; and that a third Greek bailout programme must not be introduced through back door, and unless there was a concrete plan showing how they would be carried out.

Greece had took a step back from the abyss on Monday when it presented proposals that euro zone leaders welcomed as a basis for a possible agreement in the coming days to unlock frozen aid and avert a looming default.

[B]Intra-day Market Moving News and Views
25 Jun 2015[/B] [I]02:30GMT[/I]

[B]EUR/USD[/B] -..... Despite euro's mini roller-coaster session on Wednesday, price settled around 1.1200 near NY close and continued to move narrowly in Asian morning on Thursday as Eurogroup emergency meeting to break the deadlock on the Greek debt negotiations in Brussels on Wednesday came to no conclusion and the meeting will be extended to Thursday's European morning.   

As market participants are focusing on the progress of the Greek debt negotiations, further choppy trading around 1.1200 level is envisaged in Asia. Having said that, investors should pay attention to the release of Germany’s GfK consumer sentiment for July at 06:00GMT.

At the moment, offers are noted at 1.1230-40 and then 1.1255/60 with stops building above 1.1280.
On the downside, bids are reported at 1.1160-50 and around 1.1130 with demand from various accounts around 1.1100.

[B]Thursday[/B] will see the release of Germany GfK consumer sentiment, U.K. CBI distributive trades, U.S. core PCE, personal consumption, KC Fed manufacturing.

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

[B]EUR/USD[/B] - ..... Although investors shrugged off the release of worse-than-expected Germany Gfk consumer sentiment and pushed price briefly to 1.1218 at European open, selling interest below Asian high of 1.1220 knocked price lower and euro later retreated to 1.1183.  

The research group Gfk said that its index of Germany’s consumer climate for Jul fell unexpected to 10.1, fm 10.2 in the prev. reading.

Market participants are still awaiting the progress of the Greek debt negotiations.
At the moment, offers are noted at 1.1230-40 and then 1.1255/60 with stops building above 1.1280.
On the downside, bids are touted at 1.1160-50 and around 1.1130 with demand from various accounts around 1.1100.

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

[B]EUR/USD[/B] - ...... Euro spent another lackluster session in Asia and early European morning on Friday as investors are sidelined ahead of more talks between Greece and its international creditors on Saturday. 

Euro fell to 1.1209 in Asia after meeting renewed selling at 1.1209 in Aust. and then climbed back to 1.1207 at European open.

Looks like price would remain confined inside near term established range of 1.1135-1.1235 until NY open.
At this moment, offers are reported at 1.1210-20 with mixture of offers and stops at 1.1230-40, whilst bids are touted at 1.1150-40 and more at 1.1120-10 with stops below 1.1100.

[B]Intra-day Market Moving News and Views
02 Jul 2015[/B] [I]08:20GMT[/I]

[B]EUR/USD[/B] - ...... Although the single currency recovered after early intra-day fall to 1.1032 ahead of Asian open and then staged a brief rise to 1.1087 in European morning in part due to cross-buying in euro, renewed selling quickly emerged there and knocked price down to 1.1048.  

Looks like range bound inside 1.1032-1.1087 would continue ahead of NY open as investors are reluctant to enter large positions ahead of the release of important U.S. jobs report in NY morning.
At the moment, offers are noted at 1.1070-80 and then around 1.1200 with stops building up just above there, whist bids are tipped at 1.1040/35 and more around 1.1020/15 with mixture of bids and stops at 1.1000.