AceTraderFx Mar 16: Intra-Day Market Moving News and Views -USD/JPY
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  1. #1

    Smile AceTraderFx Mar 16: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    16 Mar 2017
    03:29GMT

    USD/JPY - .... Dlr languishes near a 2-week low of 113.16 despite yesterday's anticipated Fed's rate rise, the second time in 3 months. The greenback tumbled broadly due to less hawkish Fed rate increase forecasts, cutting market's expectation of 3 more hikes to 2 in the remaining of 2017.

    Well, this is more of a case of 'buy the rumour and sell on fact' as traders have been loading up long USD positions in recent days. However, the major factor that knocked dlr/yen lower was the sharp fall in U.S. yields where the key benchmark 10-year Treasury yield fell fm Tue's near 3-month peak of 2.629% to 2.495%, rate dipped marginally to 2.486%, hence, dlr's weakness in Tokyo trading.

    Although USD demand by Japanese importers are providing sup on dips for the greenback, sellers are likely to emerge after BoJ Kuroda's press conference (06:30GMT).
    Offers are tipped at 113.55/65 and more above with stops above 114.00.
    Some bids are noted at 113.15-00 area with stops below there, suggesting sell Dollar on recovery is recommended for intra-day trade.

    Later in the day, U.S. will release weekly jobless claims, housing starts and Philly Fed mfg index.

  2. #2

    Smile AceTraderFx Mar 17: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    17 Mar 2017
    02:13GMT

    USD/JPY - ...... Dlr is currently roughly where it was trading 24 hours after a seesawed Thursday session.
    Despite ratcheting lower from yesterday's 113.55 (AUS) high to a 2-week low of 112.91 on broad-based yen buying in early European trading, price rallied back to 113.53 on short covering b4 falling back to 112.98 at New York midday.
    However, buying interest emerged and lifted price back to 113.43 and dlr later inched higher and climbed back to 113.49/50 in Asia today.

    Looks like dlr would gain more respite in Asian trading, just like yesterday but beware of another round of yen buying when European traders arrive, so selling on intra-day recovery is favoured but downside today looks very ltd due to recovery in the U.S. yields (benchmark 10-year treasury yield has climbed back to 2.544% today from yesterday's 2.486% low). Offers are tipped at 113.50/60 with some stops above there, more stops are touted above 114.00.
    Bids are noted at 113.25/20 and more at 113.00 with stops reported below 112.90.

    Data to be released on Friday:
    New Zealand business PMI, Italy trade balance, EU trade balance, U.S. industrial production, capacity utilisation and consumer confidence.

  3. #3

    Smile AceTraderFx Mar 20: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    20 Mar 2017
    03:02GMT

    USD/JPY - 112.54.. Dlr languished near a fresh 2-week low of 112.48 in holiday-thinned trading in Asian morning as Japan's financial markets for closed for Vernal Equinox Day holiday.

    The pair met renewed selling in New Zealand at 112.76 as lack of key developments at the end of G20 meeting on Saturday (G20 communique dropped pledge to avoid trade protectionism and to refrain from ccy intervention) prompted short-term specs to renew their broad-based USD selling, price fell below 112.57 after tripping some stops below there.

    Although intra-day weakness suggests downside bias remains ahead of Euroepan open, so buying interest is touted at 112.35-20 area with stops below 112.00.
    Offers are tipped at 112.75/85 with stops above 113.00.

    The only U.S. eco. data due out is Chicago Fed National Activity index at 12:30GMT.
    Last but not least, at 17:10GMT, Chicago Fed President Evans (voter) will be the first Fed official out of 9 policy makers who are scheduled to make public speeches this week.

  4. #4

    Smile AceTraderFx Mar 22: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    22 Mar 2017
    02:30GMT

    USD/JPY - 111.54.. Dlr remains on the back foot in choppy Tokyo trading after yesterday's cross-inspired selloff to 111.55 in New York, then to a fresh 3-1/2 month trough of 111.44 on stop hunting in Australia before bouncing briefly to 111.76/77 shortly after Tokyo open as bargain hunting by Japanese importers triggered minor short covering in the greenback.
    However, price briefly dipped to 111.46/47 on news of possible firing of several missiles by North Korea.

    Yesterday's break of February's 111.60 bodes ill for the buck as falling U.S. yields (benchmark 10-year yield fell from last week's 2.629% to 2.416% yesterday, then 2.4103% today) together with broad-based weakness in Asian stocks should pressure price due to expected yen buying on risk aversion.
    So selling the pair on recovery is the way to go. Offers are tipped at 111.80/90 with some stops above 113.00.
    Some bids are noted at 111.55-45 and more below with stops touted below 111.00.

    U.S. wlll release monthly home price and exisiting home sales later in the day and no more Fed speak for rest of the day after Fed's Mester and Rosengren expressed their view a little while ago.

  5. #5

    Smile AceTraderFx Mar 24: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    24 Mar 2017
    01:46GMT

    USD/JPY - ...... Dlr pares yesterday's losses n climbs in early Asian trading as rebound from Thursday's fresh 4-month low at 110.63 suggests a temp. bottom is possibly in place and traders reported buying by Japanese names (importers) on bargain hunting, intra-day usd firmness in the other G3 signals consolidation with near term upside bias is in store.

    Bids have been raised to 110.90-80 with some stops below 110.60.
    Offers are tipped at 111.45/55 with stops above there.

    Although market's main focus is the vote outcome on Trump health care in New York afternoon, pay attention to release of a slew of U.S. data starting with key durable goods n Markit mfg and then services PMIs. Fed's Evans, Yellen, Bullard and Dudley are scheduled to speak later today.

  6. #6

    Smile AceTraderFx Mar 27: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    27 Mar 2017
    01:22GMT

    USD/JPY - ...... Dlr languishes near intra-day fresh 4-month trough of 110.26 in early Tokyo trading.
    Although the pair opened flat around 111.22 in New Z, a bout of broad-based USD selling sent price lower, tripping some stops below 110.50, however, as intra-day decline looks a wee bit over-extended, reckon 'psychological' 110.00 level would hold on 1st testing.

    Intra-day selloff in the Nikkei (currently down 1.66% at 18943) plus continued decline in U.S. yields (benchmark 10-year yield is near 1-month low of 2.3670%) are likely to weigh on the greenback.
    Offers have been lowered to 110.60/70 and more above with stops above 111.00. Bids are touted at 110.30-20 and more below with stops below 110.00.

    U.S. calendar is very light with Dallas mfg. activity index being the only data due out at 15:30GMT. Chicago Fed Evans n ECB Chief Economist Praet will both be speaking at the same financial event in Madrid at 13:00GMT.

  7. #7

    Smile AceTraderFx Mar 28: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    28 Mar 2017
    02:00GMT

    USD/JPY - 110.60.. The greenback finally gained respite in Asia after hitting a fresh 4-month trough of 110.11 at New York open yesterday, however, broad-based rebound in the USD after U.S. financial markets closed little changed triggered short covering, the pair rebounded to 110.68 and then climbing to intra-day high of 110.83 shortly after Tokyo open as the Nikkie gained over 1%.

    Looks like Monday's 110.11 low would hold from here and yield consolidation with mild upside bias, so for intra-day trade, buying dlr on dips is favoured after early currency comments by FinMin Ishihara (the first by a Japanese official in several weeks).
    Bids are noted at 110.50-40 n more below with stops reported below 110.00.
    Offers are tipped at 110.80/90 with some stops above 111.00.

    A slew of U.S. eco. data will be released later in the day starting with good's trade balance, wholesale inventories, Redbook retail sales, CaseShiller home price, consumer confidence and Richmond Fed manufacturing index.

    Today is another Fed speak day starting with Kansas City Fed President George, Fed's chair Yellen and Dallas Fed President Kaplan.

  8. #8

    Smile AceTraderFx Mar 30: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    30 Mar 2017
    03:37GMT

    USD/JPY - 111.32.. Dlr continued this week's ascent from Monday's fresh 4-month trough at 110.11 to 111.43 in Asian trading above penetrating yesterday's 111.32 high on renewed cross-selling in yen as well as continued broad-based USD strength vs G4 currencies.
    Traders cited mildly hawkish comments by 3 Fed officials (Evans, Rosengren n Williams) in New York session Wenesday gave them reason to buy the greenback, yesterday's rebound in U.S. treasury yields also supported the pair in New York trading.

    Pay attention to release of a slew important U.S. eco. data later in the day starting with GDP , core PCE and weekly jobless claims, all due out at 12:30GMT.
    Fedspeak continues today in the order of Fed's Mester, Fed's Kaplan, Fed's Williams n Fed's Dudley.
    So USD may receive another shot in the arm if some of them suggests we may get 3 more rate hikes instead of 2 in 2017.

    Bids have been raised to 11.10-00 n more below with stops below 110.70. Some offers are tipped at 111.45/55 with stops above 111.60, more stops are touted above 112.00.

  9. #9

    Smile AceTraderFx Mar 31: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    31 Mar 2017
    03:08GMT

    USD/JPY - ..... Dlr continues its recent winning streak and climbed above Thursday's 111.94 top to a 1-week high of 112.15 today after Tokyo open as renewed cross-selling in yen due partly to higher open in the Nikkie (N225 is currently up 117 points at 19,180), suggesting price set to make further gain due to broad-based USD strength plus rebound in U.S. yields (benchmark 10-year yield is at 2.4161%, up from Monday's low at 2.348%) after release of upbeat U.S. data this week.
    Bids are noted at 111.80-70 and more below with stops below 111.50.
    Some offers are tipped at 112.15/25 with stops above 111.30.

    Pay attention to U.S. personal income, personal consumption expenditure, Chicago PMI and consumer confidence later in the day.
    We also have Fed's Kashkari and Bullard speaking during New York morning session.

  10. #10

    Smile AceTraderFx Apr 03: Intra-Day Market Moving News and Views -USD/JPY

    Intra-Day Market Moving News and Views
    03 Apr 2017
    03:06GMT

    USD/JPY - 111.34.. Dlr finally pares intra-day loss after falling from Friday's 1-week high of 112.20 (Asia) to 110.13 in Asia after tripping light stops below Friday's 111.25 low (New York) on renewed cross-buying in yen.
    However, buying interest emerged n lifted the pair to 111.39/40.

    Looks like a temp. low has been made and consolidation with mild upside bias is seen ahead of European open.
    Bids are noted at 1112.25-15 and more below with stops reported below 110.90.
    Offers are tipped at 111.45/55 with stops above there.
    Today if PMU day, U.S. will kick off with Markit mfg PMI, then ISD-mfg PMI, and then construction spending.

    Three Fed officials will be speaking later today, Fed Dudley at 14:30GMT (his 2 more rate hike forecasts in 2017 knocked dlr lower in New York on Friday, then Philly Fed President Harker (voter) at 19:00GMT.
    At 22:00GMT (Tue's Australian morning session), Richmond Fed President (non-voter) will speak in Lexington, Virginia.

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