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

[B]Intra-day Market Moving News and Views
16 Nov 2015[/B] [I]02:05GMT[/I]

[B]EUR/USD[/B] - ........ Despite rebounding from Friday's low at 1.0714 to 1.0775 at New York closing, the single currency opened lower in New Zealand n dropped sharply to intra-day low at 1.0687 ahead of Asian open on broad-based risk aversion due to the Friday's Paris attacks. 

However, euro gained some respite and staged a short-covering rebound to 1.0727 in Asian morning before retreating again.

Pay attention to the release of EU inflation mm and yy at 10:00GMT. Street forecasts are 0.1% and 0.0% vs previous readings of 0.2% and 0.0% respectively.

Offers are seen at 1.0740/50 and more above at 1.0760/70 with stops building up above there whilst initial bids are noted at 1.0670/80, suggesting selling on pullback is the favored strategy.

[B]Intra-day Market Moving News and Views
18 Nov 2015[/B] [I]02:05GMT[/I]

[B]EUR/USD[/B] - .......The single currency met renewed selling at 1.0679 in European morning yesterday and dropped to a fresh 6-1/2 month trough at 1.0631 in New York afternoon on cross-selling of euro vs sterling before stabilising. Euro fell again in late New York afternoon and edged lower to 1.0635 in Asian morning and continues to remain under pressure. 

Since there is no major eco. data due today, price is likely to trade with a downside bias with offers noted at 1.0660/70 and some more above at 1.0690/00 with stops building up above there, suggesting selling on pullback for a resumption of recent downtrend is still favored.

In other news, Reuters reported, International creditors are expected to disburse locked aid to Greece and its banks shortly after the Greek parliament ratified reforms agreed with its lenders.
Head of the euro zone finance ministers Jeroen Dijsselbloem said that the talks between Greek authorities and the institutions substantive agreement has been reached on all outstanding issues.

Earlier in the year, Athens signed up to a new aid program worth up to 86 bln euros, but payment of part of an initial tranche had been held up over disagreement on regulations on home foreclosures and handling tax arrears.

[B]Intra-day Market Moving News and Views
19 Nov 2015[/B] [I] 02:00GMT[/I]

[B]EUR/USD[/B] - 1.0687... Despite rising to session high at 1.0692, the single currency tumbled to 1.0623 at New York midday, then lower to intra-day low at 1.0617 after the release of FOMC minutes. 

However, euro swiftly pared its losses n rebounded to 1.0672 in New York afternoon. Price continued to ratchet higher and rose to 1.0718 in Asian morning on broad-based long liquidation in dlr.

Traders are now keenly awaiting the release of ECB monetary policy meeting minutes at 12:30GMT. Focus will be on possible hints of further monetary easing steps the central bank may take in the future.

Bids are now seen at 1.0670/80 and more below at 1.0650/60 with stops building up below there whilst initial offers are noted at 1.0730/40, suggesting buying on dips for near term gain is favored.

[B]Intra-day Market Moving News and Views
20 Nov 2015[/B] [I]02:05GMT[/I]

[B]EUR/USD [/B]- ....... Despite yesterday's rally from European low at 1.0667 to as high as 1.0763 at New York midday on broad-based dlr weakness, the single currency pared its gains n retreated to 1.0717 in New York afternoon before recovering. 

However, renewed selling at 1.0740 near New York closing pressured the pair lower and euro retreated to 1.0710 in Asian morning today.

Although there is no major eco. data due today, traders will pay attention to ECB President Draghi’s speech at 08:00GMT. The central bank head has been under pressure to introduce new monetary easing measures to stimulate the region’s economy n push prices towards their inflation target.

Offers are now seen at 1.0720/30 and more above at 1.0750/60 with stops building up above there whilst initial bids are noted at 1.0670/80, suggesting near term downside bias would be seen, hence selling on pullback is the favored strategy.

[B]Intra-day Market Moving News and Views
23 Nov 2015[/B] [I]02:05GMT[/I]

[B]EUR/USD[/B] - ...... Despite a brief rebound to 1.0708 in New York morning on Friday, the single currency met renewed selling there and retreated strongly to 1.0641 in New York afternoon. 

Euro remained under pressure in New Zealand and Australia and dropped to 1.0613 in Asian morning and continues to edge lower, following the hawkish comments from ECB President Mario Draghi over the weekend.

France, Germany and EZ will release their figures of manufacturing PMIs today and any downbeat figures will further bolster the case of a more loose monetary by the ECB.

Bids are now seen at 1.0605/10 amidst market rumours of substantial barriers around the 1.06 level, suggesting mild upside bias remains in the near term.
However, offers are noted at 1.0660/70 and more above at 1.0680/90.

[B]Intra-day Market Moving News and Views
24 Nov 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - ....... Although euro staged a short-covering rebound from Asian low at 1.0601 to 1.0657 in New York morning, price met renewed selling and fell to a fresh 7-month trough at 1.0593 at New York midday. 

However, the single currency pared its losses and recovered to 1.0637, then 1.0645 in Asian morning today, helped by cross-buying of euro, especially vs sterling.

Some data worth paying attention to are Germany GDP qq and yy at 07:00GMT.
Street forecasts are for them to remain unchanged at 0.3% and 1.8% respectively.
Later, traders should look at Germany Ifo business climate, current conditions and expectations at 09:00GMT. Market expectations are 108.2, 112.4 and 104.0 Vs previous readings of 108.2, 112.6 and 103.8 respectively.

[B]Intra-day Market Moving News and Views
25 Nov 2015[/B] [I]02:36GMT[/I]

[B]EUR/USD[/B] - ...... Euro finally cut its recent losing streak in Tuesday's session. 

Price rebounded initially to 1.0645 in Asia and despite a retreat, euro then climbed to 1.0670 in Europe after upbeat German Ifo data. The pair later ratcheted higher to session top of 1.0673 in New York morning before falling back briefly back to 1.0628 following stronger-than-expected U.S/ GDP.

Another bout of buying emerged shortly after Asian open and euro briefly rose to 1.0676. There is talk of a mixture of selling interest and stops above 1.0700 and bids have been raised to 1.0650-40 and more below, so buying euro on dips is favoured.

Some minor EZ data are due out in Europe, these are French consumer confidence, Italy’s industrial order and retail sales.

[B]Intra-day Market Moving News and Views
26 Nov 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - .... Euro is in holding pattern in subdued Asian trading as traders are standing aside after yesterday's wild swings. 

Despite intra-day selloff from 1.0689 in Europe on Reuters report the ECB is considering other stimulus options at its next policy meeting, the single currency staged a strong rebound from a fresh 7-month trough of 1.0565 New York morning to 1.0642 before moving sideways in New York afternoon.

With no important EZ economic data due out today, euro is expected to trade well above said yesterday’s low and stops above 1.0650 is now in focus.

Bids are noted at 1.0610-00 and more below whilst a mixture of offers and stops is touted at 1.0645-50.
More selling interest is reported at 1.0680/90 with stops reported above 1.0700, suggesting buying euro on dips is the favoured strategy.

[B]Intra-day Market Moving News and Views
27 Nov 2015[/B] [I]01:53GMT[/I]

[B]EUR/USD[/B] - ....... Yesterday was the 'quietest' day in 2015 as euro only clocked up a mere 28 points range in lethargic North American session due to Thanksgiving Day market holiday. Intra-day move occured at European open when sellers gave euro a bashing at 1.0623 and this action quickly knocked price to 1.0600 which turned out to the session lows for the day and price later moved inside a directionless 1.0609-23 range. 

Although short-term short sellers are having a go at the euro in Asia to look for stops below 1.0600, lack of conviction may send euro higher ahead of European open. In the absence of important EZ economic data, euro is expected to move sideways in the near term n perhaps month-end fund flows may move the euro a wee bit more later in the day.

For now, initial bids are noted at 1.0605/00 and more below with light stops touted below 1.0565, however, there is talk of more ‘profit-taking’ bids near 1.0560-50.
On the upside, initial offers are reported at 1.0625-30 with some stops above 1.0645, however, more offers are touted at 1.0670/80, so looks like range trading would continue for rest of the day.

[B]Intra-day Market Moving News and Views
30 Nov 2015[/B] [I]01:56GMT[/I]

[B]EUR/USD[/B] - ...... Although euro staged a short-covering rebound in Friday's New York session from 1.0569 to 1.0605, price came under renewed selling pressure due to usd's broad-based strength in Asia on Monday. 

Bids are noted near last Wednesday’s fresh 7-month trough at 1.0565 with stops touted below there.
On the upside, offers are noted at 1.0605/15 and more above with stops reported above 1.0645, suggesting selling euro on intra-day recovery is recommended.

Italy & Germany will release inflation data during European session, pay particular attention to German preliminary CPI at 13:00GMT, street forecast is looking for October M/M reading of 0.1% (prev. at 0.0%) and Y/Y reading of 0.4% (previous at 0.3%)

[B]Intra-day Market Moving News and Views
01 Dec 2015[/B] [I]03:27GMT[/I]

[B]EUR/USD[/B] - ..... Euro also staged a short-covering bounce to 1.0597 due to intra-day broad-based long liquidation in the usd, suggesting choppy trading above yesterday's fresh 7-month bottom at 1.0558 (New York) would continue. 

Although range trading is in store until European open, pay attention to a slew of Nov mfg PMIs, starting with Italy at 08:45GMT, then France at 09:50GMT, Germany at 08:55GMT and EZ at 09:00GMT.

Despite yesterday’s marginal weakness to 1.0558, traders reported a layer of bids for profit taking have been placed from 1.0550 all the way to 1.0500 and there is market chatter of option barrier there.
Offers are noted at 1.0600/10 and more above with stops touted at 1.0645/50.

[B]Intra-day Market Moving News and Views
02 Dec 2015[/B] [I]02:40GMT[/I]

[B]EUR/USD[/B] - ...... The single currency gained respite in Tuesday's trading after hitting a 7-1/2 month trough of 1.0558 on Monday. 

Price rebounded to 1.0597 in Asia yesterday on broad-based long liquidation is the usd, euro then climbed to 1.0619 after upbeat German data.
Despite a brief pullback to 1.0585, renewed buying pushed price higher and euro later climbed to session high of 1.0637 after soft U.S. data but retreated briefly to 1.0605 before moving narrowly in New York afternoon.

Range trading below 1.0637 is expected ahead of European open, euro zone will release inflation and PPI data at 10:00GMT. Offers are reported at 1.0635/45 with stop above there, however, more selling interest is touted at 1.0665/75.
Initial bids are noted at 1.0610-00 with some stops below 1.0585, however, traders reported earlier solid bids by macro funds from 1.0560 all the way to 1.0500 and with option barrier at this psychological level.

[B]Intra-day Market Moving News and Views
07 Dec 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - ....... The single currency retreated to 1.0836 last Friday after Thursday's surge to a fresh 1-month peak at 1.0981. Euro staged a rebound to 1.0888 ahead of Asian open, however, renewed selling there pressured the pair back down to 1.0863 in Asian morning. 

Pay attention to the release of Germany industrial output mm at 07:00GMT. Street forecast is for a 0.7% increase vs previous reading of a 1.1% decrease.

Bids have now been lowered to 1.0820/30 and more below at 1.0800/10 with stops building up below there whilst initial offers are noted at 1.0890/00, suggesting near term downside bias remains.
However, position traders should look to buy on intra-day dips for a resumption of recent uptrend.

[B]Intra-day Market Moving News and Views
08 Dec 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - ....... Although the single currency remained under pressure in Asia yesterday and dropped to session low at 1.0796 at New York open, price pared its losses and rebounded to 1.0860 in New York morning. 

However, euro met renewed selling there and retreated to 1.0831 at New York closing before continuing to trade in sideways fashion in Asian morning today.

Pay attention to the release of EU GDP qq and yy at 10:00GMT. Street forecasts are for them to remain unchanged at 0.3% and 1.6% respectively.

Bids are now seen at 1.0820/30 and more below at 1.0800/10 with stops building up below there whilst initial offers are noted at 1.0880/90, suggesting buying on dips is still the favored strategy.

[B]Intra-day Market Moving News and Views
09 Dec 2015[/B] [I]02:01GMT[/I]

[B]EUR/USD [/B]- ....... The single currency found support at 1.0830 in Asian morning yesterday and gained to 1.0882 in early European morning, then higher to session high at 1.0903 in New York afternoon, helped by cross-buying of euro especially vs sterling. 

However, price pared its gains and retreated to 1.0879 in Asian morning today before rebounding again.

Pay attention to the release of Germany exports and imports at 07:00GMT.
Street forecasts are -0.5% n -1.0% vs previousd readings of 2.6% and 3.6% respectively.

Bids are now seen at 1.0880/90 and more below at 1.0860/70 with stops building up below there whilst initial offers are noted at 1.0940/50, suggesting buying on dips is the way to go.

[B]Intra-day Market Moving News and Views
10 Dec 2015[/B] [I]02:09GMT [/I]

[B]EUR/USD[/B] - … The single currency traded with a firm bias in Asia yesterday and continued to ratchet higher in European session and rose to 1.0990 in New York morning.
Renewed buying at 1.0950 pushed the pair higher and euro rose to intra-day high at 1.1044 in New York afternoon, helped by comments from ECB’s Nowotny.
Later, price pared its gains and retreated to 1.1010 in Asian morning today on profit-taking.

There is no major eco. data due from the eurozone today except French inflation at 07:30GMT.
Bids are now seen at 1.0990/00 and more below at 1.0970/80 with stops building up above there whilst initial offers are noted at 1.1060/70, suggesting buying on dips for a resumption of recent uptrend is favored.

[B]Intra-day Market Moving News and Views
11 Dec 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - ...... The single currency remained under pressure in Asia and continued to ratchet lower in Europe to 1.0934. Despite a brief rebound to 1.0973 at New York open, renewed selling pressured the pair lower n price fell to session low at 1.0925 in New York morning and continues to trade with downside bias in Asian morning today. 

Pay attention to the release of final figures of Germany CPI mm and yy at 07:00GMT. Street forecasts are for the figures to remain unchanged at 0.1% n 0.4% respectively.

Offers are now seen at 1.0950/60 and more above at 1.0970/80 with stops building up above there whilst initial bids are noted at 1.0890/00, suggesting near term downside bias remains.
However, position traders should look to buy on intra-day dips.

[B]Intra-day Market Moving News and Views
14 Dec 2015[/B] [I]02:32GMT[/I]

[B]EUR/USD [/B]- ...... Although the single currency rose to session high at 1.1031 in New York morning on Friday on broad-based dlr weakness, price pared its gains and swiftly retreated to 1.0959 before recovering. 

Euro continued to remain under pressure for remainder of New York session and weakened to 1.0967 ahead of Asian open today.

Pay attention to the release of EU industrial production mm and yy at 10:00GMT.
Street forecasts are 0.1% and 1.2% vs previous readings of -0.3% and 1.7% respectively.

Bids have now been lowered to 1.0950/60 and more below at 1.0930/40 with stops building up below there whilst initial offers are noted at 1.1020/30, suggesting choppy trading with mild upside bias would be seen.

European Stability Mechanism (ESM) chief Klaus Regling, in an interview with Greek newspaper To Vima, said the International Monetary Fund (IMF) will take part in the Greek bailout program with a small contribution.
He added ‘The financial contribution of the IMF will be small … There should be a contribution as it is required by July’s agreement and ESM rules.’

[B]Intra-day Market Moving News and Views
15 Dec 2015[/B] [I]01:39GMT[/I]

[B]EUR/USD [/B]- ...... The single currency rose from European morning low at 1.0946 to as high as 1.1049 at New York midday on euro-supportive comments by ECB President Mario Draghi (see previous MMN). 

However, lack of follow-through buying triggered profit-taking n price retreated to 1.0985 at New York close. Euro found some support there and staged a minor rebound to 1.1006 at Asian open.

Pay attention to the release of Germany ZEW current conditions n economic sentiment at 10:00GMT. Street forecasts are 54.2 and 15.0 vs prevoius readings of 54.4 and 10.4 respectively.

Offers are now seen at 1.1020/30 and more above at 1.1040/50 with stops building up above there whilst initial bids are noted at 1.0950/60, suggesting mild downside bias remains ahead of European open.

[B]Intra-day Market Moving News and Views
17 Dec 2015[/B] [I]02:00GMT[/I]

[B]EUR/USD[/B] - ...... The single currency briefly spiked down to 1.0888 after the Fed hiked its interest rate by 25 bps before rallying to intra-day high at 1.1013 on comments from Yellen during her press conference. 

However, renewed selling there sent the pair lower and euro tumbled to 1.0866 ahead of Asian open, then lower to 1.0854 in Asian morning.
Price continues to remain under pressure and edge lower steadily.

Pay attention to the release of IFO expectations and business climate at 09:00GMT.
Street forecasts are 105.0 and 109.0 vs previous readings of 104.7 and 109.0 respectively.

Offers are now lowered to 1.0880/90 and more above at 1.0910/20 with stops building up above there whilst initial bids are seen at 1.0800/10, suggesting selling on pullback is the way to go.