AceTraderFx Mar 18: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 18 Mar 2019 03:00GMT
EUR/USD - 1.1327… The single currency swung wildly on Friday as despite initial rebound to 1.1327, then 1.1330 in Europe, price briefly fell to 1.1300 in early New York morning before rising to session highs at 1.1345 in New York.
Later, price pared its gains and retreated to 1.1315 at New York midday before stabilising.
Euro has continued to traded sideways in a narrow range today.
Euro’s break of previous res at 1.1341 to 1.1345 last Friday signals upmove from March’s 20-month trough at 1.1177 has once again resumed, suggesting consolidation with upside bias remains.
Bids are now seen at 1.1310/20 and more below at 1.1290/00 with stops building up below there.
Since there is no significant eco. data due from the EU today, traders should keep an eye on comments from ECB’s chief economist Peter Praet, as he delivers a keynote speech in Luxembourg at 15:10GMT.
AceTraderFx Mar 19: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 19 Mar 2019 03:00GMT
USD/JPY - 111.29… The greenback remained under pressure yesterday and dropped to 111.30 at New York midday on broad-based buying in jpy before staging a rebound to 111.45 near New York closing.
However, dlr met renewed selling there and dropped at Tokyo open to 111.25 after tripping stops below yesterday’s 111.30 low together with initial fall in Nikkei-225 index.
Intra-day break of yesterday’s 111.30 low signals rise from March’s low at 110.79 has ended at 111.190 last Friday, suggesting consolidation with downside bias remains.
Offers are now lowered to 111.40/50 and more above at 111.60/70 with stops building up above there whilst initial bids are noted at 110.90/00.
Market focus is now on the Federal Reserve’s rate decision, as they commence their 2-day FOMC meeting today.
Although no change to the rate is expected, traders are looking for the language used by the central bank in regards to its forward guidance after recent releases of soft U.S. data.
AceTraderFx Mar 20: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 20 Mar 2019 03:00GMT
USD/JPY - 111.60… Despite yesterday’s drop to 111.16, price erased its losses and gained to 111.48 in New York morning before retreating again to 111.25 at New York midday. However, dollar found renewed buying there and price jumped at Tokyo open today on broad-based cross-selling in jpy to session highs 111.68 in Asian morning and continues to trade with a firm bias.
Intra-day rise to 111.68 signals decline from last Friday’s high at 111.90 has ended at 111.16 yesterday, suggesting consolidation with upside bias remains.
Bids are now seen at 111.30/40 and more below at 111.10/20 with stops building up below there.
Market focus is on today’s FOMC decision at 18:00GMT and although it is widely expected the central bank will keep its rate unchanged, traders should pay particular attention to Chairman Powell’s press conference at 18:30GMT and his tone in regards to the rate path the central bank will undertake this year.
AceTraderFx Mar 21: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 21 Mar 2019 03:00GMT
USD/JPY - 110.65… The greenback finally gains some respite in thin Asian trading as Japanese markets remain closed for Vernal Equinox Day.
Dollar remained under pressure yesterday and retreated to 111.38 in New York morning before tumbling in post-FOMC trading to as low as 110.54 after the Federal Reserve kept its interest rate on hold and signaled it doesn’t foresee any further hikes this year due to a slowdown in the country’s economic growth. Price then pared some of its losses and staged a rebound to 110.75 in Australia before stabilising.
Usd’s selloff to 110.54 yesterday suggests decline from March’s 10-week peak at 112.14 has once again resumed and consolidation with downside bias remains ahead of European open.
Offers are now seen at 110.80/90 and more above at 111.10/20 with stops building up above there whilst initial bids are noted at 110.00/10.
Pay attention to the release of US jobless claims at 12:30GMT. Street forecast is for a drop to 225k from previous reading of 229k.
AceTraderFx Mar 22: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 22 Mar 2019 03:00GMT
EUR/USD - 1.1377… The single currency met renewed selling at 1.1438 in Asia yesterday and dropped to 1.1393 in European morning, then tumbled to an intra-day low at 1.1343 in New York afternoon on dollar’s broad-based strength. However, price pared its losses and staged a short-covering rebound to 1.1383 near New York close before retreating again to 1.1361 in Asian morning today.
Although euro’s rebound from yesterday’s low at 1.1343 suggests decline from Wednesday’s 6-week peak at 1.1448 has ended there, offers at 1.1380/90 and more above at 1.1400/10 should cap upside and yield retreat later.
Pay attention to the release of EU manufacturing and services PMI at 09:00GMT. Street forecasts are 49.7 and 52.7 vs previous readings of 49.3 and 52.8 respectively.
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AceTraderFx Mar 25: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 25 Mar 2019 03:00GMT
USD/JPY - 109.79… The greenback tumbled on Friday in European session and hit a 5-week low at 109.74 in New York afternoon due to the sharp decline in U.S. Treasury yields together with a selloff in U.S. equities. Despite a short-covering rebound to 110.17, price met renewed selling at Asian open today and fell below aforesaid low to 109.71 on broad-based buying in jpy as Japanese stocks dropped (Nikkei-225 is currently down by 676 points or 3.13%).
Dollar’s intra-day break of Friday’s low at 109.74 signals erratic decline from March’s 10-week peak at 112.14 has once again resumed, suggesting consolidation with downside bias remains.
Offers are now lowered to 109.90/00 and more above at 110.10/20 with stops building up above there whilst initial bids are noted at 109.10/20.
Data to be released today:
Japan all industry activity index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. Chicago national activity index, Dallas Fed manufacturing business index on Monday.
AceTraderFx Mar 26: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 26 Mar 2019 03:00GMT
USD/JPY - 110.12… Although the greenback rose from Asian fresh 5-week trough at 109.71 on Mon to 110.24 in European morning, price pared its gains and retreated to 109.76 in New York afternoon on usd’s weakness as U.S. 10-year Treasury yields dropped below 2.40% for the first time since December 2017. However, failure to re-test 109.71 and recovery in U.S. stocks triggered short-covering. Price climbed back to 110.24 in Asian morning today due partly to a rally in the Nikkei 225 index (currently up by 339 points or 1.62%) and rebound in Asian equities.
Dollar’s rebound from said New York low at 109.76 suggests choppy trading above 109.71 would continue with mild upside bias, however, offers at 110.30/40 and more above at 110.50/60 should cap upside and yield another fall later.
There is a slew of US housing data to be released today but traders should pay attention to US consumer confidence at 14:00GMT. Street forecast is for an uptick to 132.0 from previous reading of 131.4.
AceTraderFx Mar 27: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 27 Mar 2019 03:00GMT
USD/JPY - 110.52… The greenback traded with a firm bias in Asia yesterday and intra-day ascent accelerated in European session on usd’s broad-based rise due to rebound in global stocks and U.S. Treasury yields and hit session highs at 110.69 in New York morning.
However, price pared its gains and retreated to 110.42 in New York afternoon before stabilising. Dollar then met renewed selling at 110.66 in Australia and dropped to 110.41 in Asia due to the fall in Nikkei-225 (currently down by 138 points or -0.65%).
Usd’s gain to 110.69 yesterday suggests the decline from March’s 10-week peak at 112.14 has formed a temporary low at Monday’s 5-week trough at 109.71 and consolidation with upside bias remains.
Bids are now seen at 110.30/40 and more below at 110.10/20 with stops building up below there whilst initial offers are noted at 111.10/20.
Data to be released on Wednesday :
New Zealand RBNZ interest rate decision.
France consumer confidence, producer prices, Italy business confidence, consumer confidence, trade balance,Swiss investor sentiment, UK CBI distributive trades.
U.S. MBA mortgage application, trade balance, current account, and Canada trade balance, exports, imports, average weekly earnings.
AceTraderFx Mar 28: Intra-Day News and Views & data to be released today -GBP/USD
Intra-Day Market Moving News and Views
Update Time: 28 Mar 2019 03:30GMT
GBP/USD - 1.3184… The British pound proved quite tricky to trade yesterday as despite initial drop to session lows at 1.3167 at European open, price rallied to 1.3247 in New York morning before retreating to 1.3185. Renewed buying lifted the pair and cable rose to an intra-day high at 1.3269 in New York afternoon on reports that former Foreign Minister Johnson would back May’s deal.
However, the pair swiftly erased its gains and tumbled in late New York as Northern Irish DUP said it would not support the PM’s deal and hit a low at 1.3143 ahead of Asian open as Parliament failed to find a majority in its Brexit indicative votes.
Although cable’s current rebound from 1.3143 suggests the pullback from yesterday’s high at 1.3269 has ended there and range trading is in store ahead of European open, offers at 1.3190/00 and more above at 1.3110/20 would limit upside and yield another fall later. Therefore, selling on intra-day recovery is the favoured strategy.
Market focus remains on Brexit related headlines. There are no votes scheduled today but PM May will be trying her best to lock down a deal with which majority of the lawmakers are satisfied with.
AceTraderFx Mar 29: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 29 Mar 2019 03:10GMT
USD/JPY - 110.76… Despite dropping to session lows at 110.02 at European open yesterday, the greenback erased its losses and rallied to an intra-day high at 110.83 on usd’s broad-based strength due partly to rising U.S. Treasury yields. However, lack of follow-through buying triggered profit taking and price retreated to 110.54 in New York before stabilising.
The pair then found renewed buying at Asian open and jumped at Tokyo open to 110.92 on rise in Nikkei-225 and fiscal year-end selling of jpy.
Dollar’s break of yesterday’s high at 110.83 signals upmove from Monday’s fresh 5-week trough at 109.71 to retrace decline from March’s 10-week peak at 112.14 has once again resumed and consolidation with upside bias remains.
Bids are now seen at 110.60/70 and more below at 110.40/50 with stops building up below there whilst initial offers are noted at 111.40/50.
There is a slew of data due from U.S. today but traders should pay attention to attention to the release of personal income and personal spending at 12:30GMT. Street forecasts are for an uptick to 0.3% and 0.3% vs previous readings of -0.1% and -0.5% respectively.
AceTraderFx Apr 01: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 01 Apr2019 03:00GMT
USD/JPY - 111.145… The greenback edged up above last Thursday’s high at 111.83 to 110.93 in Asia on Friday and continued to trading with a firm bias, hitting a session high at 110.95 in New York before easing. Price opened higher in New Zealand today on release of upbeat Chinese data over the weekend and gained to 111.17 in Tokyo morning on broad-based selling in jpy due partly to the rally in Nikkei-225 (currently up by 430 points or 2.03%).
Dollar’s intra-day rise above Friday’s high at 110.95 signals upmove from last Monday’s 5-week trough at 109.71 to retrace decline from March’s 10-week peak at 112.14 has once again resumed and consolidation with upside bias would be seen.
Bids are now raised to 110.90/00 and more below at 110.70/80 with stops building up below there whilst initial offers are noted at 111.60/70.
There is a slew of data from U.S. today but pay particular attention to the release of U.S. retail sales at 12:30GMT and the ISM manufacturing PMI at 14:00GMT.
AceTraderFx Apr 02: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 02 Apr2019 03:00GMT
USD/JPY - 111.30… Although the greenback edged up to 111.19 in Asia yesterday, price erased its gains and dropped briefly to session lows at 110.82 at New York open on the release of poor U.S. retail sales data. However, dollar swiftly erased its losses and rose in New York morning on the back of upbeat ISM manufacturing data and hit an intra-day high at 111.44 at New York midday on rising U.S. Treasury yields.
Price continued to trade with a firm bias and gained marginally to 111.46 ahead of Tokyo open but lack of follow-through buying triggered profit-taking and knocked the pair down to 111.29 in Asian morning.
Dollar’s break of yesterday’s high at 111.44 signals upmove from last Monday’s 5-week trough at 109.71 has resumed, suggesting consolidation with upside bias remains.
Bids are now seen at 111.10/20 and more below at 110.90/00 with stops building up below there whilst initial offers are noted at 111.80/90.
Pay attention to the release of U.S. durable goods and durable goods ex-transport at 12:30GMT. Street forecasts are -1.2% and 0.2% vs previous readings of 0.3% and -0.2% respectively.
AceTraderFx Apr 03: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 03 Apr2019 03:00GMT
USD/JPY - 111.45… The greenback traded broadly sideways after yesterday’s marginal break of Monday’s high at 111.44 to 111.46 in Asia as focus remained on other dollar majors. Price retreated to 111.25 in New York morning, then briefly lower to 111.21 at Tokyo open today.
However, the pair swiftly erased its losses and rallied to 111.53 in Asian morning on improved risk appetite after an FT report said that U.S. and China were closer to a final trade agreement.
Dollar’s intra-day break of yesterday’s high at 111.46 signals upmove from last Monday’s 5-week trough at 109.71 has once again resumes, suggesting consolidation with upside bias remains.
Bids are now seen at 111.20/30 and more below at 111.00/10 with stops building up below there whilst initial offers are noted at 112.10/20.
Pay attention to the release of ISM non-manufacturing PMI at 14:00GMT.
Street forecast is for a drop to 58.0 from previous reading of 59.7.
AceTraderFx Apr 04: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 04 Apr2019 03:00GMT
EUR/USD - 1.1244… The single currency proved quite tricky to trade yesterday as despite initial gain to 1.1227 in Asia, then rise to session highs at 1.1255 in European morning on the back of upbeat services PMIs from Italy, France and Germany, price pared its gains and retreated to 1.1226 in New York morning.
However, the pair found renewed buying there and rebounded to 1.1250 at New York midday before retreating to 1.1232 in Australia today only to stage another recovery to 1.1248 at Asian open.
Euro’s gain to 1.1255 yesterday suggests recent erratic decline from March’s peak at 1.1448 has made a temporary low at 1.1184 on Tuesday and consolidation with upside bias remains.
Bids are now seen at 1.1220/30 and more below at 1.1200/10 with stops building up below there whilst initial offers are noted at 1.1290/00.
Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is for an increase to 216k from previous reading of 211k. Elsewhere, keep an eye out on comments from Federal Reserve Bank of Philadelphia President Patrick Harker, who is set to speak on the economic outlook before the Monetary Policy Outlook hosted by the Philadelphia Council for Business Economics at 17:00GMT.
AceTraderFx Apr 08: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 08 Apr2019 03:30GMT
USD/JPY - 111.40… Despite trading narrowly in subdued New Zealand/Australia morning on Monday after climbing marginally higher to a near 3-week top of 111.82 in post-NFP New York, dlr suddenly fell at Tokyo open and intra-day accelerated in Asian morning, price penetrated New York low at 111.57 and hit 111.35 after tripping stops below 111.55.
Intra-day decline due to broad-based yen buying suggests recent erratic upmove has made a temp. top and more stops are touted below 111.30, then below 111.20.
Traders cited soft U.S. yields and yen buying by Japanese exporters as plausible reasons for intra-day weakness.
Offers are noted at 111.55/60 with stops above 111.90.
After Friday’s key U.S. eco. data, we have durable goods n factory orders for February due out at 14:00GMT.
AceTraderFx Apr 09: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 09 Apr2019 03:00GMT
EUR/USD - 1.1262… The single currency caught a bid in European trading on Monday and rallied from 1.1222 to as high as 1.1275 in New York morning due to active buying of euro vs usd on short covering as well as against yen, sterling n chf ahead of Wed’s key ECB monetary policy meeting (which is usually on Thursday), however, intra-day upmove later stalled and the pair moved narrowly in subdued New York afternoon.
Despite initial dip in reaction to Bloomberg TV news that U.S. to proposes tariffs in response to EU Airbus subsidies, renewed buying quickly emerged and lifted price, suggesting daily upside bias remains for further gain to 1.1286, then 1.1300/10, however, reckon previous res area at 1.1327/32 would cap upside. Bids are noted at 1.1255-45 with stops below 1.1235 n more stops are touted below 1.1205.
Eco. calendar is pretty light today with Italy’s retail sales being the only data due out at 08:00GMT, so all eyes are on Wednesday’s ECB meeting and President Draghi’s market moving post-ECB presser.
AceTraderFx Apr 10: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 10 Apr 2019 03:00GMT
USD/JPY - 111.17… Dlr gains respite in subdued Tokyo trading after yesterday’s selloff from 111.58 to 110.98 due to safe-haven yen buying as U.S./EU trade tension, renewed drop in U.S. yields n weakness in U.S. stocks.
Although dlr’s minor recovery on short covering in New York afternoon and intra-day sideways move suggests range trading is in store until European open, as Asian equities are in a sea of red (N225 current down 143 points or 0.66% at 21659 n) n benchmark 10-year U.S. yield is near a 1-week low of 2.4846%, renewed but of broad-based yen buying is expected once consolidation is over, so trading dlr from short side is favoured.
Offers are tipped at 11.25/30 with stops above there, more selling interest is reported at 111.45/55 with stops at 111.60. Bids are noted at 111.00-90 with stops below 110.80.
Pay attention to release of key U.S. inflation data at 12:30GMT where March CPI, core CPI, real weekly earnings are due out, then Federal budget n last but not the least, we have FOMC minutes at 18:00.
Therefore, one can expect a lively New York session later in the day.
AceTraderFx Apr 11: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 11 Apr 2019 03:00GMT
EUR/USD - 1.1276… Wednesday turned out to a be mini bloodbath for euro bulls and bears in volatile New York session. Despite resuming recent winning streak n hitting a 2-week high of 1.1288 ahead of ECB Draghi’s presser, the single currency quickly erased intra-day gain and fell in decline accelerated after Draghi said risks to the economy remained to the downside, euro hit session lows of 1.1230 before staging a rebound on short covering ahead of FOMC minutes and when it came out, the greenback fell across the board, lifting euro to 1.1278/79.
As euro is able to shrug off ECB Draghi’s dovish comments, suggesting erratic rise from last week’s 1.1184 low may head to 1.1300/10 after consolidation, however, reckon prev. res at 1.1332 would cap upside n yield decline later today or tomorrow.
For now, bids are noted at 1.1255-50 and more below with stops reported below 1.1230.
Offers are tipped at 1.1280/85 with stops above 1.1300.
ON the data front, Germany will release Mar CPI, HICP, then France’s CPI.
We have ECB’s Villeroy who is participating in IMF Spring Meetings, Washinghton D.C. and will speak at 12:30GMT.
AceTraderFx Apr 12: Intra-Day News and Views & data to be released today -GBP/USD
Intra-Day Market Moving News and Views
Update Time: 12 Apr 2019 03:00GMT
GBP/USD - 1.3065… Cable was in the back foot in choppy trading in Thursday’s session as market was not impressed by EU’s Brexit extension, despite intra-day sideways wings in European morning, the pound was sold n edged steadily lower to session lows of 1.3051 b4 staging a recovery in Asian morning due to intra-day jump in the euro.
Looks like price would continue to ‘gyrate’ inside this week’s 1.2987-1.3122 range for res of the day n selling on intra-day recovery (due to rise in eur/usd) is still favoured as UK parliament has begun its Easter break, this hopefully means less Brexit headlines, less choppy moves and traders may recover from their ‘Brexit fatigue’ and begin to sell the pound on intra-day rebound.
Offers are tipped at 1.3090/00 with stops reported above 1.3125/30.
Bids are noted at 1.3055-50 with stops touted below 1.3030 and more below 1.3000.
Last but not least, BOE Gov. Carney will at IMF forum but as the topic is on managing capital flows, market is expected to ignore what he has to say.
AceTraderFx Apr 15: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 15 Apr 2019 03:00GMT
USD/JPY - 112.00… The pair maintains a firm undertone in early Asian trading following Friday’s resumption of recent upmove to a 4-week high of 112.09 in New York as rebound in U.S. yields together with strong performance in U.S. stocks boosted risk appetite and led to broad-based selling in the safe-haven yen.
Dlr’s intra-day strength vs the yen only but weak against its other G7 peers suggests price would penetrate 2019 peak at 112.14 (March) soon where a break there would encourage for subsequent headway towards 112.67.
Bids are noted at 111.90-80 and more below with stops touted below 111.55 whilst offers are tipped at 112.10/15 with stops reported above 112.15/20.
The U.S. economic calendar is very light today with New York Fed mfg index for April being the only data due out at 12:30GMT.
We also have Chicago Fed President Evans (voter) appears on CNBC’s “Squawk Box” at 12:30GMT and again at 17:00GMT where he is scheduled speak before the New York Association for Business Economics.