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

[B]Intra-Day Market Moving News and Views
28 Dec 2016[/B] [I]07:31GMT
[/I]
EUR/USD - … Euro pares intra-day gain at European open after price extended gain from yesterday’s 1.0432 low to 1.0480 in Asia.
Seller emerged quickly pushed price back down to 1.0465, suggesting consolidation with downside bias is in store.

Offers are tipped at 1.0480/90 with stops above last week’s high at 1.0499.
Bids are noted at 1.0455/50 and more below with stops reported below 1.0425.

Euro area economic calendar is very light with Italy’s December consumer n business confidence the only 2 data due out at 09:00GMT.
U.S. economic calendar is pretty light today with November pending home sales the only data for traders to chew on.

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[B]Intra-Day Market Moving News and Views
05 Jan 2017[/B] [I]01:30GMT[/I]

EUR/GBP - 0.8535.. A piece of Brexit news on U.K. Telegraph which came out in Australian morning worth noting. PM Theresa May will threaten to take Britain out of the single market unless the UK is given full control of its borders in a significant Brexit speech designed to counter claims she has no plan for leaving the EU. 

The Prime Minister will outline her “vision for Britain outside of the EU” in a major speech later this month that will focus on the economy and immigration.
Both David Davis, the Brexit Secretary, and Boris Johnson, the Foreign Secretary, are having “significant” input into the speech, sources said. However, Liam Fox, the Trade Secretary considered one of the “three Brexiteers” alongside Mr Davis and Mr Johnson, is understood to have been sidelined.

The speech will be seen as a retort to claims of “muddled thinking” in Mrs May’s Government by Sir Ivan Rogers, who on Tuesday resigned as Britain’s EU ambassador after a series of rows with Downing Street.
One source predicted that Mrs May will make the speech after a Supreme Court ruling which will decide whether she has to formally consult Parliament before triggering Article 50, which begins formal Brexit negotiations.

Downing Street wants to get back on the front foot in the wake of the shock resignation of Sir Ivan, who had been “cut adrift” by Mrs May and her allies because of his negative view of Brexit.

[B]Intra-Day Market Moving News and Views
15 Feb 2017[/B] [I]02:05GMT[/I]

EUR/USD - ...... Euro is nursing losses after yesterday's resumption of recent decline to a 4-week trough of 1.0561 after Fed Yellen's hawkish testimony before the U.S. Congress. 

Although short-term specs made another attempt to know the pair lower at Asian open, buying interest (probably profit taking bids) at 1.0565 contained weakness, suggesting euro would move sideways before prospect of further weakness later in the day, so selling the pair on recovery is the way to go.

Offers are tipped at 1.0580/90 with some stops above 1.0600, however, more selling interest is reported at 1.0625/35.
On the downside, initial bids are noted at 1.0565-60 with some stops below 1.05550.

Euro area economic calendar is very light with EU trade balance being the only data in European morning, so traders will pay more attention to U.S. inflation data and retails sales at 13:30GMT.

Intra-Day Market Moving News and Views
23 Feb 2017
02:21GMT

EUR/USD - 1.0552.. Euro is currently trading almost exactly where its was 24 hours ago after Wednesday's 'roller-coaster' rise. 

Although price met renewed broad-based bashing at 1.0557 in Asia and tumbled to a 6-week trough of 1.0494 after tripping stops below 1.0520 in hectic European trading.
Price later rallied to 1.0566 on short covering in New York morning, despite a brief retreat to 1.0531 after release of Fed minutes, euro later climbed to session highs of 1.0573 due to broad-based USD retreat.

Euro’s rally from 1.0494 to as high as 1.0573 has finally cut recent losing streak and subsequent retreat suggests consolidation is in store until European open.
Expect euro demand on dips as market is obviously short, so buying on dips is favoured where bids are noted at 1.0530-20 and more below with stops below 1.0490.
On the upside, offers are tipped at 1.0570/80 with stops touted above 1.0600.

U.S. eco. calendar is pretty light today with weekly jobless claims and month home price being the only data due out in New York morning.
Outgoing Atlanta Fed President Dennis Lockhart (retiring on Feb 28) will speak at 13:35GMT and Dallas Fed President Robert Kaplan (voter) will later speak at 18:00GMT.

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Intra-Day Market Moving News and Views
28 Feb 2017
03:13GMT

EUR/USD - ...... Despite extending recent upmove to 1.0630 near New York midday, the single currency pared intra-day gain due to usd's rebound, price slipped to 1.0581, then marginally lower to 1.0569 in Asia after hitting some stops below 1.0580. 

Looks like the correction from last Wednesday’s 6-week low at 1.0494 may well have ended yesterday and consolidation with downside bias is seen as market is looking forward to Trump’s ‘Big’ infrastructure (spending) speech which may speak another round Trump rally in the USD.

Offers are tipped at 1.0590/00 and more with stops above 1.0630 whilst some bids are noted at 1.0560-50 with stops below there, suggesting selling euro on recovery is favoured.

Euro area will release a slew of eco. data starting with Germany’s retail sales, France’s PPI, Italy’s CPI n HICP during European morning.

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[B]Intra-Day Market Moving News and Views
03 Mar 2017[/B] [I]03:15GMT[/I]

EUR/USD - The euro survived another day of selling on Thursday as despite ratcheting lower from 1.0546 in Europe to 1.0496 in New York afternoon, bids above last Wed's 6-week low lifted the pair and price staged a short-covering rebound at Asian open today, climbing back to 1.0523 ahead of Tokyo lunch session.  

Looks like more choppy trading above 1.0494 would be seen in European morning, however, intra-day weakness in the antipodean currencies suggests selling the euro on recovery in anticipation of recent decline is favoured.
Offfers are noted at 1.0525/30 and more above with stops above 1.0550, more selling interest is tipped at 1.0560/70 with stops above 1.0575.
Initial bids are reported at 1.0500-1.0490 with stops below there.

Today is PMI day in the euro zone, Germany will release retail sales 1st, then Italy’s services PMI, the same from France, then Germany and the EU.
Italy will release GDP and then EU retail sales.

[B]Intra-Day Market Moving News and Views
09 Mar 2017[/B] [I]02:00GMT[/I]

EUR/USD - ...... Euro remains under pressure in subdued Asian trading as traders are mostly on the sideline ahead of ECB rate decision later in the day. 

Although price briefly dipped to session lows of 1.0535 after release of robust U.S. private jobs report, euro quickly staged a short-covering bounce to 1.0562 but the pair then ratcheted lower to 1.0536 in New York afternoon, suggesting intra-day downside bias remains.

Offers are tipped at 1.0560/70 and more above with stops above 1.0580, more stops are reported above 1.0600.
Initial bids are noted at 1.0535-25 and more at 1.0505-00 with fairly large stops below 1.0490, suggesting selling euro on recovery is the way to go.

No eco. data is due out today but German FinMin Wolfgang Schaeuble will meet U.S. Treasury Secretary Steven Mnuchin in Berlin later today.

[B]Intra-Day Market Moving News and Views
14 Mar 2017[/B] [I]03:10GMT[/I]

EUR/USD - ..... Euro remains on the back foot in subdued Asian trading after extending decline from Monday's fresh 1-month high of 1.0714 to 1.0645 ahead of Asian open. 

Although some traders attributed to Monday’s intra-day decline to dovish comments by ECB officials Smets and de Galhau, euro actually was under broad-based selling in European morning and later weakened 1.0653 near New York close.

Looks like consolidation with downside bias is in store ahead of European open and pay attention to release of key Germany’s ZEW eco. sentiment index.
Offers are tipped at 1.0675/80 n more at 1.0695/000 with stops above 1.0715/20.
Some bids are noted at 1.0640-30 with stops below there.

Germany will release CPI, ZEW eco sentiment followed later by EU industrial production.

[B]Intra-Day Market Moving News and Views
21 Mar 2017[/B] [I]03:00GMT[/I]

EUR/USD - ...... Although euro fell initially ahead of Asian open to 1.0720 after tripping light stops below o/n NY low of 1.0735, short covering quickly lifted the single currency and price quickly rallied on broad-based usd's weakness (except vs yen), the pair later climbed on intra-day high of 1.0770 before stabilising. 

Euro’s rebound from 1.0720 strongly suggests correction from last week’s 1.0783 high has ended and trading the euro from long side is the way to go.
Bids are noted at 1.0750-40 and more below with stops below 1.0700.
Offers are tipped at 1.0770/80 with stops above there, more stops are touted above 1.0800.

Data to be released later:
Swiss trade balance, UK CPI, core CPI, RPI, PPI input, PPI output, PPI core output, PSNB, PSNCR, CBI trends,
Canada retail sales, U.S. current account and redbook retail sales.

[B]Intra-Day Market Moving News and Views
23 Mar 2017[/B] [I]03:20GMT[/I]

EUR/USD - ..... Yesterday's range was 1.0776-1.0825, so euro has more or less erased Wednesday's gain to a fresh 5-week high of 1.0825 made in New York morning. 

However, failure to take out February’s peak at 1.0829 led to broad-based long liquidation in the EURO esp vs USD, YEN and GBP.

Although intra-day weakness in Asia suggests range trading is in store, as long as 1.0780-70 sup area holds.
Euro’s recent upmove is set to continue later in the day especially if Trump health care gets voted down by the U.S. Congress later today.
Bids are noted at 1.0780-70 with stops reported below there.
Offers are tipped at 1.0810/20 with stops above 1.0830/35.

Pay attention to release of a slew of euro area eco. data starting with Germany’s Gfk consumer confidence, France’s business climate, EU eco. bulletin, ECB targeted LTRO n much later at 15:00GMT, EU consumer confidence. ECB board member Nouey will speak at 08:00GMT followed by ECB’s Lautenschlager at 15:00GMT.

[B]Intra-Day Market Moving News and Views
13 Apr 2017[/B] [I]03:17GMT[/I]

EUR/USD - 1.0672.. Just when euro bears thought they had the upper hand by pressuring the single currency lower in New York session and pushing price from 1.0622 to 1.0590, USD-bearish comments by U.S. Trump sparking off a wave of broad-based USD bashing, the pair rallied strongly to 1.0675 in relatively thin New York afternoon trade n price inched higher to 1.0678 as renewed dlr/yen weakness and rally in the Aussie triggered more USD selling in Asia. 

There is a slew of eco. data coming out during European morning starting with German inflation data, the same from France and then Italy.

Although yesterday’s rally confirms recent downtrend has made a temp. low at Monday’s fresh 4-week trough of 1.0571 and consolidation with near term upside bias with more liquidation of recent long USD (or short eur/usd) positions ahead of Friday’s long Easter weekend holiday, as U.S. markets are open for business as usual and will release key U.S. retail sales and CPI data, if these data come out stronger than street forecast, then beware of another selloff esp. vs EUR in thin New York session.

For now, buying euro on dips is still preferred, bids are noted at 1.0660-50 with stops below 1.0630, some offers are tipped at 1.0680/90 with stops touted above 1.0700/05.

[B]Intra-Day Market Moving News and Views
24 Apr 2017[/B] [I]02:17GMT[/I]

EUR/USD - 1.0831.. To call Monday's market price action in early New Zealand trading on the G7 currencies 'pandemonium' is rather appropriate as expected (according to earlier poll results) win by France's centrist Macron in the 1st round of French Presidential election triggered broad-based short covering buying in the single currency triggered a gap-up open in euro. 

Price opened around 1.0900 and climbed to a 5-month peak of 1.0939 (Reuters) but only to come off steadily lower in Australia, then in Asian morning, suggesting the single currency is vulnerable to more selling as initial brief short-covering buying is over.

Order book is obviously very thin as most of recently placed stops above 1.0900/10 has been executed, Asian traders have been short-term sellers but market is look to European traders for their reaction, so do not be surprised if euro ratchets back down to 1.0683 (Friday low) in the next day of two.

The only eco. data due out in the euro area is the important German Ifo business sentiment index, street forecast for April to come in at 112.5 vs previous reading of 112.3.

[B]Intra-Day Moving News and Views
04 May 2017[/B] [I]03:02GMT[/I]

EUR/USD - 1.0891.. Euro continued to swing wildly inside recent established broad range in Wed's session. Price initially rose to 1.0937 in Asia yesterday n then fell to 1.0905 in New York morning before staging a short-covering rebound. Despite initial knee-jerk price action after Fed's expected unchanged rate decision, euro tumbled from 1.0926 to 1.0883 on hawkish Fed's policy statement.  

Although intra-day recovery from 1.0882 (AUS) suggests range trading is in store, market may test euro’s downside bias in Europe esp. if EZ eco. data come in below street forecast.
Offers are tipped at 1.0900/05 n more above with stops above 1.0940, a mixture of offers n stops is reported at 1.0950/55.
Bids are noted at 1.0885-80 with stops below there but more bids are touted at 1.0855-50 with stops below there.

Today is PMI day for the services sector, pay attentention to Italy’s Markit PMI, the same from France, then Germany and the EU. ECB members will be speaking today starting with Lautenschlager at 10:30GMT, Praet at 11:00GMT, Mersch at 11:35GMT and last but not least, ECB President at 16:30GMT, he will deliver a speech at an event in Lausanne, Switzerland.

[B]Intra-Day Moving News and Views
09 May 2017 [/B] [I]02:12GMT[/I]

EUR/USD - 1.0930.. Euro remains on the back foot in subdued Asian trading after falling sharply from a near 6-month high of 1.1024 (New Zealand) to as low as 1.0917 in New York morning on broad-based selling in the euro vs usd, yen and sterling after expected election win by France's Macron. 

Although it is obvious the single currency has hit a temp. top n consolidation with near term downside bias remains for a wee bit more of long liquidation, further steep fall is unlikely as euro zone eco. data remain pretty upbeat, so position taker can look to load up new euro positions on dips.
For now, offers are tipped at 1.0955/65 n more above with stops reported above 1.1000.
Initial bids are noted at 1.0920/00 with stops below 1.0900, however, more buying interest is reported at 1.0890-80.

Pay attention to slew of data from euro area countries starting with Germany’s industrial production, exports and imports. trade balance, then France’s budget balance and the retail sales from Italy.
At 16:00GMT, German FinMin Schaeuble will attend Townhall event in Berlin and may well make a speech.

[B]Intra-Day Moving News and Views
16 May 2017[/B] [I]02:21GMT[/I]

EUR/USD - 1.0985.. Euro moves narrowly but with a firm undertone in subdued Asian morning after extending last Friday's impressive rally and climbed to 1.0990 due to broad-based buying in the euro esp vs usd, yen and sterling. 

It looks like market is now ready to re-test last Monday’s 6-month peak at 1.1024 later today after early downward correction to 1.0840 (Thursday).
Bids have been raised to 1.0965-55 and more below with stops below 1.0930.
A mixture of offers and stops is touted near 1.1000, however, more stops are reported above 1.1025/30, suggesting buying euro on dips is the way to go due to broad-based USD weakness (except vs the yen).

Pay attention to release of a slew of eco. data from euro area countries starting with France’s HICP. Italy’s GDP, the same from EU, trade bal., ZEW eco. sentiment n Germany’s ZEW eco. sentiment. if the ZEW for Germany n the EU are upbeat, expect euro to move higher.
Later at 18:00GMT, ECB Executive Board Member Benoit Coeure will give speech at the annual dinner of the ECB’s Bond Market Contact Group.

[B]Intra-Day Market Moving News and Views
23 May 2017[/B] [I]03:35GMT[/I]

EUR/USD - 1.1251.. Euro stands tall in relatively subdued trading in Asia after yesterday's intra-day rally above last Friday's 1.1211 high to a fresh 6-month peak at 1.1264 in New York as comments by German Chancellor Merkel at European midday who said the euro is 'too weak' led to broad-based euro buying. 

Despite moving very narrowly in New York afternoon after intra-day pullback to 1.1228, euro edged higher in Asia on buying vs the pound after news of a bomb attack in Manchester, Britain, suggesting the single currency will continue its recent winning streak in Europe, having said, offers at 1.1270/80 and market chatter of an option barrier at 1.1300 may put a lid on the pair.
Bids are noted at 1.1230-20 with stops below 1.1210.

Euro area countries will release a slew of eco. data starting with German Q1 GDP, France’s bus. climate, Markit mfg and services PMI, then Germany will releasse the same PMIs n the important German Ifo business climate survey and lastly, EU’s Markit mfg n services PMIs.

[B]Intra-Day Market Moving News and Views
24 May 2017[/B] [I]03:02GMT[/I]

EUR/USD - 1.1187.. Euro is nursing loss in subdued Asian trading after tumbling from Tuesday's fresh 6-month peak of 1.1268 to as low as 1.1176. Although upbeat German Ifo data pushed euro to said yesterday's high, broad-based profit taking in the euro pressured the pair and usd's rally near New York midday finally forced euro bulls to capitulate and sent price falling below 1.1200/10, tripping stops below there. 

It is plain to see that the single ccy has made a temporary top and sideways consolidation is seen until European open before further corrective fall resumes, so selling euro on further recovery is favoured.
Offers have been lowered to 1.1215/25 and more above with stops above 1.1270.
Some bids are noted at 1.1180-70 with more stops reported below 1.1160.

Germany will release Gfk consumer confidence n then later Italy’s trade balance.
Pay attention to speech by ECB’s Praet at 08:30GMT and then at 12:45GMT, ECB President Draghi will make a keynote speech at a financial conference on Financial Stability in Madrid, Spain.

[B]Intra-Day Market Moving News and Views
31 May 2017 [/B] [I]02:24GMT[/I]

EUR/USD - 1.1177.. The euro swung wildly in hectic Tues session. Despite falling from 1.1172 (AUS) to as low as 1.1110 at European open, renewed buying quickly lifted the pair n then denial by Greek officials they were not not opting out of bailout payment and will continue its interest payment on its loans sparked off active broad-based short covering to 1.1194. 

Later, euro popped up to 1.1206 after downbeat U.S. consumer confidence and then retreated on profit talking.

Intra-day sideways move suggests temp. top has been made n range trading is in store before prospect of further gain after upbeat EU eco. data during European morning or weaker-than-expected U.S. data later in the day.
Bids are noted at 1.1170-60 with stops below 1.1140, more buying interest is reported at 1.1100/10 with stops below there.
Offers are tipped at 1.1200/10 n more above with stops above 1.1240.

Eco. calendar from the euro area countries is heavy (please refer to EI page for details).
Pay attention to speech by ECB Board member Benoit Coeure will be speak at a financial conference in Frankfurt at 07:20GMT. Then at 12:30GMT, ECB Executive Board member Sabine Lautenschlager will speak at an event in Berlin.

AceTraderFx Jun 14: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
14 Jun 2017 02:01GMT

EUR/USD - 1.1215… Euro trades narrowly with a firm undertone in Asian morning. Despite staging a rebound from Tuesday’s 1.1186 low to 1.1225 in European morning, price retreated to 1.1192 near New York midday, however, lack of follow-through selling lifted price back to 1.1215 near the close.

Expect range trading above 1.1186 to continue with mild upside bias, bids are noted at 1.1200 and more below with stops below 1.1185, more stops are reported below 1.1160.
Offers are tipped at 1.1225/35 with stops above 1.1250, more selling interest is reported at 1.1280/85 with stops above 1.1300 (option barrier).

Euro area countries will release a slew of eco. data starting with Germany’s CPI, EU employment n industrial production.
Pay attention to speeches by ECB’s Constancio, Knots, Weidmann and Rimsevics.

AceTraderFx Jun 15: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
15 Jun 2017 02:19GMT

EUR/USD - 1.1221… Euro is trading in familiar territory after swinging below and above the 1.1200 mark in last 3 consecutive sessions this week.

Despite yesterday’s jump after release of lower-then-expected U.S. CPI and retail sales and hitting a 7-month peak of 1.1296, market chatter of option barrier at 1.1300 capped euro’s gain and price later tumbled to 1.1194 following hawkish Fed statement.

Looks like 1.1300 is what some call ‘a bridge too far’ for the euro to cross, so one can contemplate short positions for daily and weekly positions for a long-overdue correction of recent upmove.
Offers are tipped at 1.1250/60 and more above with stops above 1.1300.
Bids are noted at 1.1200-80 with stops below 1.1160.

Euro area countries will release a slew of eco. data, Eurogroup will meet in Luxembourg today (ECB’s Draghi and Coeure will participate in the meeting), EZ FUnMins also meet in Brussels.