[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.
[B]Intra-day Market Moving News and Views
21 Dec 2015[/B] [I] 01:12GMT[/I]
[B]EUR/USD [/B]- ....... Euro gained respite on Friday and staged a short-covering rise to 1.0875 in New York afternoon. Although short-term specs sold the pair in Australia on Monday after news of Spain's ruling party won in Sunday's election but short of a majority, ending the 2-party ruled.
Looks like sideways trading above last ThursdAY’s 1-week low at 1.0802 would continue and market is trying to test the upside.
However, offers reported at 1.0875/85 (some stops are building above 1.0900) may well cap Friday’s rebound and euro would ratchet lower in European session.
Initial bids are noted at 1.0850 and more below with stops below 1.0800.
[B]Intra-day Market Moving News and Views
22 Dec 2015 [/B]01:37GMT
[B]EUR/USD - [/B]........ Euro was unfazed by weekend's Spanish election result in Monday's trading where ruling party lost majority.
Price met renewed buying at 1.0848 and climbed on downbeat U.S. Chicago Fed activity index, price penetrated Asian 1.0883 high to 1.0909, then later to session high of 1.0939 on continued broad-based short-covering in the euro.
Today, despite initial retreat to 1.0905/06 in early Asian trading, buying interest emerged and has lifted the pair, suggesting intra-day upside bias remains for further gain.
A mixture of selling interest and stops is reported at 1.0940 and more stops are touted above 1.0940.
Initial bids are noted at 1.0905-00 with some stops below 1.0880.
Pay attention to German Gfk Jan consumer confidence index at 07:00GMT, street forecast is looking for a reading of 9.3 vs the previous month reading 9.3.
[B]Intra-day Market Moving News and Views
23 Dec 2015 [/B]02:00GMT
[B]EUR/USD[/B] - … Euro finally pares yesterday’s sharp gain to 1.0984 in New York morning and retreated to 1.0946 ahead of New York close. Looks like Asian trading would be pretty much subdued due to closure of Japanese financial markets and sideways move below said yesterday’s high would be seen before prospect of further gain later today as firmer EZ bond yields (as the ECB has put a temporary halt to its asset purchase programme over the X’mas break) are lending further support to the euro.
Some bids are noted at 1.0940-30 and more below with stops touted below 1.0900.
On the upside, offers are reported at 1.0980/00 are with stops above 1.1015.
Reuters reported earlier the Euro zone bailout fund on Tuesday approved the payment of a 1 billion euro ($1.10 billion) aid tranche for Greece following Athens’ completion of a second set of reforms.
The payment by the European Stability Mechanism (ESM) is the third disbursement of the initial loan sub-tranche of 16 billion euros agreed in August.
The payment had been provisionally approved by euro zone deputy finance ministers last week after Athens withdrew a disputed package of social justice measures from parliament.
[B]Intra-day Market Moving News and Views
24 Dec 2015[/B] [U]01:11GMT[/U]
[B]EUR/USD[/B] -....... Trading the euro was tricky as despite continuing this week's rally to 1.0984 on Tuesday, the pair came under pressure on broad-based selling of euro in Asian and European sessions yesterday, price fell from 1.0958 (AUS) to 1.0914, despite staging a minor recovery to 1.0935.
Price tumbled to session lows of 1.0870 at New York midday after upbeat U.S. economic data but renewed buying quickly emerged and lifted the pair back up to 1.0924 ahead of New York close.
Euro’s intra-day firmness suggests aforesaid pullback from 1.0984 has ended and consolidation with upside bias is in store. However, euro is expected to move inside 1.0984-1.0870 until major markets return next Monday.
For now, bids are noted around 1.0900-1.0890 and more below with stops touted below 1.0870, however, there is market of ‘solid’ bids above last week’s 1.0802 low.
On the upside, offers are reported at 1.0935/45 and more above with stops building above 1.1000.
[B]Intra-day Market Moving News and Views
28 Dec 2015[/B] [I]00:15GMT[/I]
[B]EUR/USD[/B] - ....... The single maintains a steady to firm undertone in subdued Asian morning on Monday, however, last week's rebound from 1.0870 is likely to keep euro bid and intra-day pullback would be met with renewed buying interest.
With many European centres are still closed for Boxing Day holiday, large swings are unlikely to be seen until New York open later today.
For now, initial bids are noted at 1.0940-30 and more below with some stop touted below 1.0900.
Some offers are reported at 1.0975/85 with stops above 1.1000, suggesting buying euro on dips is the way to go.
[B]Intra-day Market Moving News and Views
29 Dec 2015[/B] 03:08GMT
[B]EUR/USD [/B]- ...... Euro also moves narrowly in subdued Asian morning after yesterday's retreat from European high of 1.0993 to 1.0958 in New York, suggesting range trading would continue until European open.
Traders touted offers at 1.0990/00, so unless more bids emerge, sideways move would continue and buying interest is tipped at 1.0950-40 with some stops below 1.0920.
The only data due out today in Europe is Italy’s business confidence which is unlikely to stir up much excitement. Therefore, euro may well react to release of U.S. data indicated in previous update in New York morning.
Reuters earlier reported that speculators raised bearish bets on the euro, as net shorts were increased after falling the previous week to their lowest in about four weeks. The latest week’s net short euro contracts were 161,047, compared with 159,961 the week before.
Net short euro contracts had been steadily declining especially in the wake of a smaller-than-expected stimulus move from the European Central Bank early this month.
For the year, the euro was down 9.4 percent against the dollar through December 22.
[B]Intra-day Market Moving News and Views
30 Dec 2015[/B] [I]01:37GMT[/I]
[B]EUR/USD[/B] - ...... The euro is nursing loss in subdued Asian trading after yesterday's surprise intra-day selloff from 1.0992 (Europe) to as low as 1.0899.
Although the pair staged a rebound from European morning low at 1.0960 to 1.0992, offers at 1.0990/95 capped intra-day gain and euro tumbled broadly at New York open as massive selling (presumably from North American names) knocked price sharply lower, triggering stops below 1.0950, then 1.0920, price tried to stabilise after hitting 1.0909 and staged a recovery to 1.09843 before another fall to said session lows of 1.0899.
Expect consolidation to take place as Asian traders are on the sideline, however, offers are tipped at 1.0935/45 and more above and initial bids are touted at 1.0910-00 with more stops below 1.0895, suggesting selling euro on recovery is recommended.
[B]Intra-day Market Moving News and Views
31 Dec 2015[/B] [I]02:23GMT[/I]
[B]EUR/USD[/B] - ...... Asian traders are likely to remain on the sideline after yesterday's intra-day price swings. Although euro met renewed selling at 1.0944 in Europe and ratcheted lower in volatile fashion to 1.0902 at New York midday, short-covering buying quickly lifted the pair and price climbed back up to 1.0937/38 ahead of New York close.
Looks like near term choppy swings above Tuesday’s 1.0899 low would continue, some offers are reported at 1.0940/45 and bids are touted at 1.0900-1.0890 with stops below there.
However, more buying interest is touted at 1.0870-50 area.
Looks like euro would move sideways until New York morning as release of U.S. weekly jobless claims and then Chicago December PMI may give traders something to trade on but most players have closed the books already.
Reuters reported that the vice president of the European Central Bank, Vitor Constancio would preferred its policy to stay unchanged for the foreseeable future, in comments that suggest any extension of quantitative easing is unlikely for now.
In the comments published on the ECB’s website on Wednesday, Constancio also defended a recent extension to the ECB’s money-printing programme that fell short of market expectations.
[B] Intra-day Market Moving News and Views
05 Jan 2016 [/B] [I]3:00GMT[/I]
[B]EUR/USD[/B] - ..... Euro trades narrowly in subdued Asian morning after o/n rebound from a near 1-month low of 1.0781 to 1.0837 in New York. Price edged higher to 1.0839 after Asian open before easing.
Yesterday’s intra-day selloff in New York after hitting a high of 1.0946 in Europe suggests downside bias remains as market is eager to test euro’s downside for support.
Offers are tipped at 1.0835/45 and more above with stops reported above 1.0900, some bids are noted at 1.0800-1.0790 with stops below 1.0780.
Germany will release its unemployment data at 08:55GMT, then followed by Italy’s CPI data and then EZ inflation data.
A piece of o/n news on Greece worth noting. European Economics Commissioner Pierre Moscovici urged the Greek government to respect its commitment to reform its pension system and keep the country on a virtuous reform path.
Greek Prime Minister Alexis Tsipras’ ruling coalition faces a tough test with the reform of its ailing pension system, a prerequisite for the first review of Greece’s 86 billion euro bailout agreed in July last year.
[B] Intra-Day Market Moving News and Views
11 Jan 2016[/B] [I]02:15GMT[/I]
[B]EUR/USD[/B] - ...... The single currency swung wildly at the start of the trading week. Price opened a tad lower from Friday's close and moved quietly in NZ morning, however, sudden selloff in the dlr/yen led to broad-based risk aversion of buying in euro and CHF.
Euro rallied above 1.0940/46 res and tripping stops above there, price later gained to 1.0970 ahead of Asian open before coming off due to lack of follow-through buying.
Although a slight higher yuan’s fixing rate by the PBOC has pushed euro back down to 1.0923, suggesting 1.0970 top would remain intact, at least until European open n range trading is in store.
Offers are noted at 1.0960/70 with more above, there is market chatter of stops building above 1.1000.
Bids are reported at 1.0925-15 and more below with stops below 1.0900.
The only data due to from the EZ is Sentix Investor Confidence index, street forecast is look for January reading to come in at 12.2 vs previous month’s figure at 15.7.
[B] Intra-Day Market Moving News and Views
13 Jan 2016[/B] [I]02:12GMT
[/I]
[B]EUR/USD[/B] -… Although euro staged a rebound to 1.0878 near New York close after retreating from yesterday’s high of 1.0900 (Europe) to 1.0819, price came under renewed selling pressure due to renewed broad-based buying in the greenback and ratcheted lower to 1.0820 in Asia.
Today, investors should pay attention to the release of France’s inflation data and euro zone’s industrial production reports in European session.
Market expects the euro zone’s industrial production to post a monthly drop of 0.3% n a yearly gain of 1.3% in November vs previous readings of +0.6% n +1.9% respectively. Therefore, euro/usd pair is likely to remain under pressure ahead of the data and a test of 1.0800 level is likely.
At the moment, offers are reported at 1.0830-40, 1.0850/55 and more around 1.0870 with stops above 1.0880.
On the downside, bids are noted at 1.0805/00 and then 1.0790-80 with stops below there.
[B] Intra-Day Market Moving News and Views
14 Jan 2016[/B] [I]03:10GMT[/I]
[B]EUR/USD[/B] - ....... Euro eased from Asian top of 1.0896 after intra-day brief break of New York high at 1.0888.
Trading the single currency has proven to be tricky this week as investors/traders have tied to buying/selling of euro to intra-day/daily swings in stock prices as both yen & euro are sought after in times of market (equity esp.) turmoil because it is a market view (rightly or wrongly) these 2 currencies are often used a funding currency in investing in risky assets and when prices in these markets fall, investors will liquidate their portfolio and buy back the yen & euro.
Today’s selloff in Asian equities (Nikkei took a tumble n fell 4%) has triggered renewed broad-based buying of euro vs usd, gbp and surprisingly, the Swiss franc, so if European stocks follow Asian equities lower at the open, one can expect further buying of euro.
Therefore, buying euro on dips (our weekly strategy is holding a long position at 1.0825) is the way to go.
For now, offers are tipped at 1.0895/05 with stops touted above 1.0910, initial bids are noted at 1.0865-45 area, there is market chatter on large stops building below 1.0800 but this is unlikely to be seen.
Although Germany will release 2015 non-adjusted GDP and the followed by Italy’s industrial production data, these data will be ignored by the market are traders are focusing European stock movements. Later today at 12:30GMT, ECB will publish its minutes of Dec monetary meeting.