AceTraderFx Apr 13: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
13 Apr 2018 03:10GMT
EUR/USD - 1.2329… Euro gained respite in subdued Asian trading after yesterday’s intra-day selloff from 1.2380 (Asian high) to as low as 1.2300 in New York morning.
The single currency came under broad-based selling pressure as downbeat EZ industrial prod. data led to long liquidation of eur vs usd, gbp and the yen.
Intra-day decline gathered momentum after release of ECB minutes which showed ECB members were concerned about a major trade war with the U.S. as well as potentially harmful impact of the euro’s recent strength. However, euro’s selling pressure quickly abated when short covering occured near New York midday and price later rebounded to 1.2339.
Intra-day sideways move suggests range trading is in store and as long as 1.2300 holds, consolidation with upside bias is seen.
Bids are noted at 1.2310-00 with stops below there, more buying interest is touted above 1.2260.
Offers are tipped at 1.2335/40 with stops above 1.2350.
On the eco. data front, we have Germany’s final March CPI n HICP and then EU’s trade balance. ECB President Draghi will deliver a speech at an education event at 11:00GMT in Frankfurt.
AceTraderFx Apr 16: Intra-Day Market Moving News and Views -USD/USD
Intra-Day Market Moving News and Views
16 Apr 2018 03:10GMT
USD/USD - 107.30… Despite U.S./allied missile strikes on Syria on Sat., dlr opened relatively flat at Mon open in New Zealand and then recovered to 107.61 in Australian morning as initial steady performance in the Dow n S&P 500 futures (Dow futures currently up around 0.5%) boosted risk sentiment.
Having said that, the pair quickly pared intra-day gain n retreated ahead of Tokyo open as market is not fully convinced current geopolitical tension in Syria has completely dissipated yen remains firm broadly vs usd, euro, gbp n aud etc, suggesting choppy trading below Fri’s 6-week peak at 107.78 (New York) would continue with downside bias.
Offers are tipped at 107.50/60 with stops above 107.80.
Some bids are noted at 107.30-25 with stops touted below 107.20 n more below 107.00.
Pay attention to release of U.S. eco. data starting with Mar retail sales n NY Fed mfg index at 12:30GMT, then bus. inventories and NAHB housing market index at 14:00GMT.
We have 15 Fed officials who are scheduled to deliver their speeches this week n today we have 3, starting with Dallas Fed’s Kaplan (non-voter) at 16:00GMT, then Minneapolis Fed’s Kashkari (non-voter) at the same time too n finally, Atlanta Fed’s Bostic (voter) at 17:15GMT.
AceTraderFx Apr 17: Intra-Day Market Moving News and Views -USD/USD
Intra-Day Market Moving News and Views
17 Apr 2018 03:10GMT
USD/JPY - 107.03… Dlr remained on the back foot in Asian trading after initial break of yesterday’s 107.04 (New York) low to 106.97 as renewed broad-based weakness in the usd prompted short-term specs to sell the pair for stop hunting.
The lack of a rebound from said intra-day 106.97 trough suggests market is keen to test dlr’s downside after price hit a 6-week peak of 107.78 on Friday and the path of least resistance in the meantime is down, so selling dlr on recovery is the way to go.
Offers are tipped at 107.10/20 n more above with some stops above 107.40.
Some bids are noted at 106.90/80 with some stops below there, however, more sell stops are touted below 106.60.
The U.S. will release a slew of eco. data starting housing starts, building permits, Redbook retail sales, industrial production, manuf. output n capacity utilization.
As mentioned on Monday, 15 Fed officials are scheduled to speak this week, after 3 speakers yesterday, today we have 4 Fed Presidents (pls refer to our EI page for details).
AceTraderFx Apr 18: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
18 Apr 2018 03:10GMT
EUR/USD - 1.2379… Euro pared yesterday’s losses after falling from a near 3-week high of 1.2414 (Europe) to as low as 1.2337 in New York as intra-day selloff in cable dragged the single currency lower and led to broad-based short covering in the usd in New York morning, however, profit taking later lifted price to 1.2375 at the close.
Euro’s said decline from 1.2417 signals recent upmove has made a temp. top and choppy sideways swings would be seen with downside bias and further fall may be seen after consolidation, so one can trade the euro from both sides of the market.
Offers are tipped at 1.2385/95 with stops above 1.2420.
Bids are noted at 1.2345-35 with stops below there, there is market chatter of stops below 1.2300.
On the eco. data front, Italy will kick off with industrial order n industrial sales, EU will release final HICP and construction output.
Today, we have the Eurogroup meeting and ECB member Hansson will speak at a conference at 08:00GMT.
AceTraderFx Apr 20: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
20 Apr 2018 03:00GMT
USD/JPY - 107.63… Dlr ratcheted higher shortly after Tokyo open due to renewed usd’s strength following yesterday’s gain in New York session on rising U.S. yields, the benchmark 10-year yield climbed to near 1-month high of 2.934%).
Intra-day break of yesterday’s 107.52 to 107.70 suggests price is en route to re-test last Friday’s 6-week high of 107.78 after consolidation, break there would encourage for gain to next daily chart obj. at 107.90 but reckon 108.29 (February’s low, now res) would cap upside and beware of profit taking ahead of the weekend.
Bids are noted at 107.50-40 and more below with stops reported below 107.20.
Offers are tipped at 107.70/80 with stops touted above 108.00.
No U.S. eco. data is due out but one can pay attention to more speeches by Fed officials (Fed’s Evans and Fed’s Williams) as well as sporadic comments by CB governor and officials who are attending the 3-day IMF/World Bank Annual Meeting.
AceTraderFx Apr 23: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
23 Apr 2018 03:00GMT
USD/JPY - 107.78… Dlr eased in Asian morning after rising marginally above Friday’s near 2-month high of 107.86 (New York) to 107.89 at Tokyo open due to intra-day gain in U.S. Treasury yields (benchmark 10-year climbed above Friday’s 2.9639% high to a fresh 4-year peak of 2.9695%), suggesting minor consolidation is in store ahead of European open before prospect of further gain as Friday’s broad-based usd’s strength should support the greenback.
Therefore, buying dlr on dips is the way to go today in anticipation of resumption of recent upmove.
Bids are noted at 107.70-50 area with stops below 07.45.
Offers are tipped at 107.85/90 with stops above 108.00.
Today is PMI day, U.S. will release Chicago Fed national activity index, then Markit mfg and services PMIs and existing home sales.
AceTraderFx Apr 24: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
24 Apr 2018 03:00GMT
EUR/USD - 1.2211… Although euro briefly fell below Monday’s 7-week low of 1.2199 after triggering stops below 1.2200 and hit 1.2185 as intra-day gain in usd/yen led to renewed broad-based usd’s strength, lack of follow-through selling swiftly lifted the pair and price rebounded to 1.2212 ahead of Tokyo lunch break, suggesting recent decline has made a temp. low and range trading above said Asian low is expected until European open.
Euro’s daily close below previous April’s 1.2215 yesterday bodes ill for the single currency as this price action suggests a downside break of recent wild swings inside early broad 1.2555-1.2155 range has possibly occured, therefore, selling euro on recovery is still favoured due to anticipated renewed usd’s strength.
Offers are tipped at 1.2225/35 and more above with stops reported above 1.2250.
Bids are noted at 1.2195-85 and more below (profit taking) with stops touted below 1.2150.
The euro area will release a slew of eco. data but market focus is the key German Ifo business climate, street forecast for Apr is very low reading 102.7 vs prev. figure of 114.7, so if actual number comes in as forecast or lower, euro will be sold. The EU General Affairs Council will meet to discuss Brexit today n ECB’s Villeroy will speak at a conference at 08:00GMT.
AceTraderFx Apr 25: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
25 Apr 2018 03:00GMT
USD/JPY - 108.84… Dlr pared o/n losses in New York and climbed to 109.06 shortly after Tokyo open as benchmark U.S. Treasury yields rose again and briefly penetrated Tuesday’s fresh 4-year highs of 3.0033% to 3.0089.
Intra-day retreat due to broad-based weakness in Asian equities following yesterday’s selloff in the Dow (DJI fell 1.74% n closed a 24024) has spooked investors and dampened risk appetite, suggesting choppy range trading is the order or the day in Asia.
Having said that, if U.S. yields continue its recent upward path, the greenback will head higher broadly in Europe, so buying dlr on dips is till favoured.
Bids are noted at 108.70-60 with stops below 108.50.
Offers are tipped at 109.05/15 with stops above 109.20/25.
No key U.S. eco. data is due out today, so traders will need to take cue from intra-day move in U.S. yields as well as performance in major U.S stocks (so keep an eye on the Dow n S&P 500) later in the day.
AceTraderFx Apr 26: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
26 Apr 2018 03:00GMT
USD/JPY - 109.37… Dlr continues its recent winning streak n rises for the 7th day in Asia, price climbed marginally above yesterday’s fresh 2-month high of 109.45 (New York) to 109.47 ahead of Tokyo open.
Yesterday’s gain in U.S. Treasury yields has pushed the greenback against its G7 counterparts, intra-day firmness in the benchmark 10-year yield (currently at 3.0315% vs Wednesday’s fresh 4-year highs at 3.0352%), which has firmly anchored above the previous 3% res level (now sup) suggests recent upmove would resume after intra-day range trading is over, so buying dlr on dips is the way to go.
Bids are noted at 109.20-00 area with stops below there.
Offers are tipped at 109.45/55 with stops above 110.00.
U.S. will release a slew of eco. data starting with initial weekly jobless claims, durable goods orders, wholesale inventories n KC Fed manufacturing activity index.
AceTraderFx Apr 27: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
27 Apr 2018 04:00GMT
EUR/USD - 1.2111… Euro remains on the back foot in subdued Asian trading after yesterday’s selloff below key day chart sup at 1.2155 (March low, n now res) to a 3-month trough of 1.2098.
Despite intra-day brief drop to 1.2146 after ECB’s unchanged rate decision, price briefly jumped to 1.2210 when ECB’s Draghi said the Governing Council did not discuss FX volatility.
However, renewed usd’s strength on rebound in U.S. stocks triggered active euro selling vs usd, gbp and chf, the pair easily fell below 1.2145/50 to 1.2098 near New York close.
Yesterday’s daily close below 1.2155 bodes ill for the euro n if it closes below this level in New York (weekly bearish close), then price would continue its southward journey next week towards next chart object at 1.1916 (2018 bottom in Jan). Therefore, selling euro on any short-covering rebound is favoured.
Offers are tipped at 1.2125/30 n more above with stops above 1.2155/60.
Some bids are noted at 1.2100-1.2090 with some stops below there.
The euro area will release a slew of eco. data (please refer to EI page for details) and we have speeches ECB’s Lautenschlager, ECB’s Mersch during European morning.
AceTraderFx Apr 30: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
30 Apr 2018 03:00GMT
USD/JPY - 109.13… Dlr moves narrowly in subdued Asian trading as financial markets in Japan and China are closed for holiday.
Despite extending last week’s winning streak to a fresh 10-week high of 109.54 at New York open, release of soft prelim. Q1 U.S. GDP prompted broad-based profit taking in the usd together with intra-day falling U.S. Treasury yields knocked the pair lower to 108.96, price later traded narrowly in New York afternoon.
Friday’s usd’s broad-based decline in New York session and intra-day narrow move but with a soft undertone suggests consolidation with downside bias remains, for short term trade, selling dlr on recovery in anticipation of a further corrective fall is still favoured.
However, day traders should buy the buck on dips.
Order board is pretty light with offer at 109.20/30 and move above with stops above 109.55/60.
Some bids are noted at 109.00-85 area and more below with stops below 108.50.
U.S. will release of a slew of eco. data starting with Mar core CPI, personal income and spending, Chicago PMI, pending home sales n Dallas Fed mfg index.
AceTraderFx May 02: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
02 May 2018 03:00GMT
EUR/USD - 1.2004… Euro orbited 1.2000 level after yesterday’s intra-day selloff below last week’s 1.2056 low to a fresh 3-1/2 trough of 1.1982 in holiday-thinned New York session. Actually, the single started to inch lower in quiet pre-Asian open on Tuesday from 1.2084 (AUS), intra-day decline accelerated in Europe as selloff in sterling led to broad-based usd’s strenghth, the April later tumbled to 1.1982 in New York morning before staging a rebound to 1.2020 on short covering.
Looks like range trading above 1.1982 would continue until European open n today is PMI day in the euro area countries, if EZ mfg and GDP data come in weaker than forecast, then euro should continue its recent losing streak, so be ready to sell the euro when German ans EU PMIs and EZ GDP miss estimates.
Order board is pretty light with some offers tipped at 1.2020/30 and more above with stops above 1.2060.
Some bids are noted at 1.1985-65 with stops below 1.1950.
The euro area countries will release a slew of eco. data on the first working day in May after yesterday’s May day market holiday, please refer to our EI page for details.
AceTraderFx May 03: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
03 May 2018 03:00GMT
USD/JPY - 109.67… Dlr’s remains on the back foot in choppy Asian trading (Japanese financial markets are closed for Golden Week holiday today and Friday) after hitting a near 3-month high if 110.04.
Despite intra-day knee-jerk reaction in post-Fed New York afternoon when price briefly fell to session lows of 109.60, renewed broad-based USD buying emerged as market interpreted Fed’s unchanged rate decision as ‘hawkish hold’, price rebounded to 109.95 ahead of the close.
However, the pair fell again to intra-day low of 109.57 on intra-day broad-based usd’s retreat, suggests choppy trading below 110.04 would continue until European open.
Offers are tipped at 109.85/95 with stops above 110.05/10.
Bids are noted at 109.60-50 with stops touted below 109.40.
Although market’s next attention is Fri’s U.S. jobs data, today, we have U.S. Markit services PMI, Mar durable goods order (revisions) and ISM non-mfg PMI.
AceTraderFx May 04: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
04 May 2018 03:00GMT
USD/JPY - 109.02… The greenback remains on the back foot in relatively subdued Asian trading as Japanese financial markets for the 2nd day for Golden Week holiday.
The pair fell in Asian, European as well as New York sessions on broad-based yen buying due to falling U.S. yields (the benchmark 10-year fell from last Wednesday’s 4-year peak of 3.035% to 2.927% ahead of New York open), price dropped from 109.87 (AUS) to as low as 108.93 in New York morning, however, rebound in U.S. stocks in New York afternoon lifted price to 109.24/25.
As dlr has fallen again in Asia, suggesting consolidation with downside bias remains and stops below 108.90 is now in focus.
On the upside, offers are tipped at 109.20/25 and more all with stops above 109.60.
Looking from a technical perspective, drl’s decline from Wednesday’s fresh 11-week peak of 110.04 suggests recent upmove has made a temp. top and even if today’s U.S. payrolls report is upbeat, price is unlikely to climb above said res level, so whilst buying on dips is still cautiously favoured, profit should be taken on subsequent bounce.
U.S. will release a slew of data starting with NFP, average earnings and unemployment rate due out at 12:30GMT.
After that, we have 3 Fed officials delivering speeches in New York afternoon session (please refer to our EI page for details).
AceTraderFx May 07: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
07 May 2018 03:00GMT
USD/JPY - 108.90… The greenback remains on the back foot in Asian trading despite staging a rebound from Friday’s 9-day low of 108.65 in post-NFP New York to 109.27.
Intra-day renewed broad-based yen buying suggests consolidation with downside bias remains and stops below 108.65-55 sup are now in focus.
Offers are tipped at 109.10/20 and more above.
Some bids are noted at 108.75-65.
After last Friday’s release of blockbuster NFP data n a slew of other eco. data, there is no data due out later today in the U.S., however, we have a number of Fed officials delivering speeches, please refer to our EI page for details.
AceTraderFx May 08: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
08 May 2018 03:00GMT
USD/JPY - 108.96… Dlr swung wildly in hectic trading on Mon but later ended lower on renewed usd’s weakness in New York afternoon. Price fell from 109.14 in Australia to 108.86 in Asian morning as a bout of usd selling knocked price below New York low at 109.00, hitting some stops below there.
However, broad-based recovery in the greenback lifted price back to 109.05.
Although intra-day sideways swings are expected in European morning, dlr’s intra-day fall from Monday’s 109.40 high (New York) suggests the correction from last Friday’s 9-day low at 108.65 has ended n re-test of this sup is envisaged after consolidation.
Offers are tipped at 109.10/15 and more above with stops above 109.45.
Bids are noted at 108.85-75 with stops below 108.65, however, more stops are reported below last week’s low at 108.55.
U.S. will release Redbook retail sales n the JOLTS jobs opening in NY morning which are not expected to have impact on the greenback. Also, Fed chairman J. Powell will participate at a financial event on the International Monetary System in Zurich at 07:15GMT.
AceTraderFx May 09: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
09 May 2018 03:00GMT
USD/JPY - 109.52… Despite yesterday’s wild swings in hectic New York trading (due to position adjustments before Trump’s announcement on Iran nuclear deal and then intra-day brief but sharp fall on U.S. withdrawal from the deal), the greenback jumped shorty after Tokyo morning on Wednesday as rising U.S. yields and renewed usd’s strength boosted risk appetite led to broad-based yen selling, the pair rallied from 109.00 (AUS) to as high as 109.64 after tripping stops above 109.40 before easing ahead of Tokyo lunch break.
Dlr’s intra-day break above 109.40 (Monday high) suggests the correction from May’s 110.04 peak has ended earlier at 108.65 (Friday) and consolidation with upside bias remains, so buying the buck on dips is favoured.
Bids are noted at 108.40-30 and more below with stops below 108.80.
Offers are tipped at 109.65/75 with stops above 110.05.
On the data front, U.S. will release MBA mortgage applications, final PPI and wholesale inventories.
Atlanta Fed President Bostic (voter) will speak at a conference at 17:15GMT.
AceTraderFx May 10: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
10 May 2018 03:10GMT
EUR/USD - 1.1861… Euro inched higher in relatively subdued Asian trading after yesterday’s intra-day rally in Europe from a fresh 4-month trough of 1.1823 to 1.1897 at New York open on short covering.
However, the single currency quickly pared its gain as usd regained (pun intended) traction in New York session and retreated to 1.1841.
Although yesterday’s rebound from 1.1823 to 1.1897 signals recent downtrend has made a temp. low and sideways swings are expected in holiday-thinned European morning as financial markets in Germany, France n Switzerland are closed for Ascension Day holiday and traders are taking cue from U.S. core CPI data at 12:30GMT.
Offers are tipped at 1.1885/95 with stops above 1.1900.
Bids are noted at 1.1845-40 and more below with stops below 1.1820.
Italy is open today n will release industrial production data and the EU will release ots Economic Bulletin at 08:00GMT.
AceTraderFx May 11: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
11 May 2018 03:10GMT
USD/JPY - 109.40… Dlr pared initial loss in volatile Tokyo trading. Despite staging a recovery to 109.57 shortly after Tokyo open, a bout of yen buying quickly knocked the pair lower below Thursday’s low (New York) at 109.32, price hit intra-day bottom of 109.20 after tripping stops below 109.30, however, lack of follow-through selling soon lifted price back to 109.42.
Yesterday’s decline from 110.02 (Europe) to 109.32 in New York after tepid U.S. inflation data n falling U.S. yields, then 109.20 today suggests further broad sideways swings below May’s 11-week peak at 110.04 would continue and from a technical standpoint, the volatile price action from said top is possibly developing into a triangle, so one can expect daily wild swings to continue but with a downward bias, so selling dlr on intra-day recovery is the way to go but last week’s low at 108.65 (a-leg trough) should remain intact.
Offers are tipped at 109.50/60 with some stops above 109.65.
Bids are noted at 109.20-10 with stops below 109.00.
After yesterday’s key U.S. inflation data, we have import and export prices, then later at 14:00GMT, we have University of Michigan consumer confidence index, street forecast for May is 98.5 vs previous reading at 95.5, if actual figure comes in lower than expectation, then the greenback will be sold as more downside retracement is likely after recent rise to a 4-1/2 month highs against the G7 currencies.
AceTraderFx May 14: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
14 May 2018 03:10GMT
USD/JPY - 109.31… The pair moved narrowly in quiet Asian trading after Friday’s resumption of decline from 110.02 (Thursday) to 109.15 in New York morning due to falling U.S. yields before staging a recovery to 109.43 on profit taking and later moved sideways in subdued New York session.
As dlr’s fall from 110.02 suggests further ‘choppy’ trading below May’s 11-week peak at 110.04 would continue n anticipated usd’s broad-based retreat after recent strong gains should bring consolidation with downside bias. Therefore, selling the April on recovery is the way to go.
Offers are tipped at 109.40/50 and more above with stops above 109.65.
Some bids are noted at 109.20/15 with stops below 109.00.
There is no eco. data due out fm the U.S., however, 2 Fed Presidents will be speaking today starting with Cleveland Fed’s Mester (voter) at 06:45GMT in Paris n later St. Louis Fed’s Bullard (non-voter) at 13:40GMT in New York.