AceTraderFx Feb 13: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 13 Feb 2020 04:30GMT
EUR/USD - 1.0872… Euro languishes near y’day’s 3-week trough of 1.0866 in subdued Asian trading. Despite intra-day cable-led recovery to 1.0925 in European morning, sellers quickly emerged and price edged lower, then intra-day fall accelerated in New York morning to 1.0866 after tripping stops below 2019 trough at 1.0880.
The fact that euro is unable to stage a recovery in Asia suggests price would remain on the back foot n is en route to next chart obj. at 1.0840 (2017 low) after consolidation. Therefore, trading the single currency across the board is the way to go but oversold condition is expected to keep price above 1.0800.
Offers have been lowered to 1.0880/90 with some stops above 1.0900 while bids (profit taking) are touted at 1.0850-40.
The euro area countries will release a slew of eco. data starting with France’s unemployment, then Germany’s CPI n HICP plus EU’s economic growth forecast. We also have a number of ECB officials scheduled to speak during the day, pls refer to our EI page for details.
AceTraderFx Feb 14: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 14 Feb 2020 04:30GMT
USD/JPY - 109.80… Dlr maintains a relatively steady posture in subdued Asian morning on Friday after yesterday’s volatile swings. Despite Thursday’s intra-day fall from 110.09 (AUS) to 109.81 ahead of Tokyo open on safe-haven yen buying after China reported a sharp jump in coronavirus cases under a new method, then to session lows of 109.63 in Europe, rebound in U.S. yields as well as renewed usd’s broad-based strength lifted price back to 109.86 near New York midday.
Although decline from 110.13 (Wednesday) suggests price is not ready to re-test Jan’s 7-1/2 month peak at 110.28, as long as 109.54 sup holds, daily upside bias remains.
Bids are noted at 109.70-65 with stops below 109.50 and offers are tipped at 110.00/10 with stops reported above 110.30.
T.G.I.F., BOJ Deputy Gov. Amamiya is scheduled to speak at a seminar organised by Tokyo Stock Exchange at 10:00GMT. U.S. will release a slew of eco. data (see our EI page for details), pay attention to release of key U.S. Jan’s retail sales at 13:30GMT and then University of Michigan consumer confidence at 15:00GMT.
Cleveland Fed President Mester (FOMC voter) will speak at a financial event in Florida at 16:45GMT.
AceTraderFx Feb 17: Intra-Day News and Views & data to be released today -GBP/USD
Intra-Day Market Moving News and Views
Update Time: 17 Feb 2020 04:30GMT
GBP/USD - 1.3048… The British pound went through a roller-coaster ride on Friday as despite briefly edging up to 1.3063 in early European morning, price dropped to session lows 1.3001 at New York open as newly appointed Finance Minister Rishi Sunak reminded Cabinet Ministers that they needed to find 5% in budget savings together with cross-selling of sterling especially vs euro. However, price then pared its losses and staged a rebound to 1.3053 near New York closing and continues to trade with a firm bias in Asia today.
Cable’s strong rebound from Friday’s low at 1.3001 suggests pullback from last Thursday’s high at 1.3069 has ended there and re-test of said resistance is seen. Above would extend upmove from last Monday’s 2-1/2 month trough at 1.2873 to 1.3090/00. However, offers at 1.3110/20 should cap upside and yield retreat later.
In the absence of major economic data from UK today, range trading is expected inside a narrow range ahead of European open and investors should keep an eye on the eur/gbp cross.
AceTraderFx Feb 18: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 18 Feb 2020 04:30GMT
EUR/USD - 1.0828… Despite rebounding to 1.0850 in holiday-thinned trading yesterday, the single currency met renewed selling below previous resistance at 1.0861 and retreated to 1.0830. The pair then broke through last Friday’s near 3-year trough at 1.0828 to 1.0824 in Asian morning on concerns over eurozone’s growth. However, lack of follow-through selling triggered short-covering and price recovered to 1.0829.
Euro’s intra-day break of last Friday’s low at 1.0828 signals medium-term decline has once again resumed and further weakness to 1.0780/90 would be seen after consolidation.
Offers are now lowered to 1.0840/50 and more above at 1.0850/60 with stops building up above there whilst initial bids are noted at 1.0770/80.
Market focus is on the release of German ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are for a drop to 21.5 and -10.3 vs previous readings of 26.7 and -9.5 respectively.
AceTraderFx Feb 19: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 19 Feb 2020 04:30GMT
USD/JPY - 109.97… The greenback went through a roller-coaster ride yesterday as despite dropping to session lows at 109.66 in Asian morning on risk-averse buying in jpy, price erased its losses and rebounded to 109.79 ahead of European open. The pair hen ratcheted higher to an intra-day high at 109.94 in New York morning on usd’s broad-based strength before retreating to 109.78. However, renewed buying there lifted the pair and price gained to 109.97 in Asia today.
Dollar’s strong rebound from 109.66 to 109.94 yesterday and intra-day break of this resistance suggests early pullback from last week’s high at 110.13 has ended at 109.63 Thursday and consolidation with upside bias remains. Above said res would bring gain towards January’s 7-1/2 month peak at 110.28 later.
Bids are now seen at 109.70/80 and more below at 109.60/70 with stops building up below there whilst initial offers are noted at 110.40/50.
There is a slew of U.S. data to be released today including PPI at 13:30GMT along with several speeches from Federal Reserve officials but market focus will remain on the release of FOMC minutes at 19:00GMT. The central bank had kept its rates on hold despite continuous pressure from President Trump for Powell to cut rates.
Hence, investors would be looking for any hints on the path the bank will take in its rate setting policy.
AceTraderFx Feb 20: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 20 Feb 2020 04:30GMT
USD/JPY - 111.29… The greenback takes a breather after yesterday’s spectacular rally from 109.86 in Australia to a 9-1/2 month peak at 111.58 in New York morning as improved risk appetite triggered broad-based selling in the jpy and retreated to 111.12 in Tokyo morning today on profit-taking. However, renewed buying interest there contained downside and the pair recovered to 111.32.
Dollar’s rally above January’s 7-1/2 month peak at 110.28 to 111.58 yesterday suggests erratic upmove from 2019 33-month trough at 104.46 (August) has once again resumed and further gain to 111.80/90 would be seen.
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 112.00/10.
Pay attention to the release of US jobless claims at 13:30GMT. Street forecast is 210k vs previous reading of 205k. Elsewhere, Richmond Fed President Thomas Barkin will participate in a talk hosted by Harvard University at 18:20GMT.
AceTraderFx Feb 21: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 21 Feb 2020 04:30GMT
EUR/USD - 1.0788… The single currency proved quite tricky to trade yesterday as despite edging up to 1.0815 in Asia, price dropped to a fresh near 3-year trough at 1.0778 at European open. However, lack of follow-through selling triggered short-covering and the pair rallied to session highs at 1.0820 in New York morning due partly to cross-buying of euro especially vs sterling. Price then met renewed selling there and retreated to 1.0784 near New York closing before stabilising in Asia today.
Although euro’s brief break of Wednesday’s low at 1.0783 to 1.0778 yesterday suggests medium-term decline has resumed and marginal weakness is likely to be seen, bids at 1.0750/60 should contain current fall and yield a much-needed correction later today.
There is a slew of PMIs due from the eurozone today but investors should pay particular attention to Germany’s manufacturing and services PMI at 08:30GMT. Street forecasts are for a drop to 44.8 and 53.8 from previous readings of 45.3 and 54.2 respectively.
AceTraderFx Feb 24: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 24 Feb 2020 04:30GMT
EUR/USD - 1.0828… The single currency opened lower on risk-aversion and dropped to 1.0811 in New Zealand after Friday’s resumption of upmove from last week’s near 3-year trough at 1.0778 to 1.0863. However, the pair found renewed buying there and rebounded to 1.0842 at Asian open before retreating again.
Despite euro’s intra-day gap-down open to 1.0811, subsequent rebound suggests the pullback from Friday’s high at 1.0863 is over and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove to 1.0900/10.
However, offers at 1.0920/30 should cap current rise and yield retreat later.
Pay attention to the release of Germany Ifo business climate, current conditions and expectations at 09:00GMT. Street forecasts are 95.1, 98.6 and 92.1 vs previous readings of 95.9, 99.1 and 92.9 respectively.
Elsewhere, ECB Executive Board member Philip Lane will speak at 17:00GMT at the Booth Policy forum in New York.
AceTraderFx Feb 26: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 26 Feb 2020 04:30GMT
EUR/USD - 1.0866… The single currency proved quite tricky to trade yesterday as despite initially rebounding 1.0867 in Asian morning, price dropped to session lows at 1.0831 ahead of New York open on cross-selling of euro especially vs sterling. However, the pair erased its losses and rallied to an intra-day high at 1.0890 in New York afternoon on usd’s broad-based weakness before retreating to 1.0863 in Asia today on profit-taking.
Euro’s break above Monday’s high at 1.0871 to 1.0890 yesterday suggests upmove from last Thursday’s near 3-year trough at 1.0778 has resumed and further gain to 1.0925 would be seen after consolidation, however, offers at 1.0950/60 would limit current rise and yield a much-needed correction later.
There isn’t much to report on the data front from the eurozone but there are a few speakers from the European Central Bank scheduled to speak today, including President Christine Lagarde at 13:30GMT
AceTraderFx Feb 27: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 27 Feb 2020 04:30GMT
EUR/USD - 1.0910… The single currency proved quite tricky to trade yesterday as price initially rose from Asian low at 1.0863 to 1.0897 in early European morning, then briefly spiked up to 1.0908 ahead of New York open on cross-buying of euro especially vs sterling. The pair then erased its gains and dropped to session lows at 1.0856 in New York morning before rebounding strongly to 1.0900 in New York afternoon. The pair found renewed buying at 1.0878 near New York close and rose to 1.0914 in Asian morning today before stabilising.
Although intra-day break above yesterday’s high at 1.0908 signals corrective upmove from last Thursday’s near 3-year trough at 1.0778 has resumed and marginal gain is likely to be seen, offers at 1.0920/30 should limit current rise and yield a much-needed correction later.
Pay attention to the release of EU business climate, economic sentiment, services sentiment and consumer confidence at 10:00GMT. Street forecasts are -0.28, 102.8, -7.3, 11.2 and -6.6 vs previous readings of -0.23, 102.8, -7.3, 11.0 and -6.6 respectively.
AceTraderFx Feb 28: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 28 Feb 2020 04:30GMT
EUR/USD - 1.0986… The single currency traded with a firm bias in Asia yesterday and gained to 1.0947 in early European morning. The pair continued to ratchet higher and hit an intra-day high at 1.1005 in New York morning on usd’s broad-based weakness together with cross-buying of euro especially vs sterling on renewed Brexit concerns surrounding EU and UK’s trade talks. Price then retreated to 1.0966 in New York afternoon on profit-taking before rebounding again to 1.1004 in Australia today.
Euro’s rally to 1.1005 yesterday signals corrective upmove from February’s near 3-year trough at 1.0778 remains in progress and further gain to 1.1040 would be seen, however, offers at 1.1060/70 would limit upside and yield a much-needed retreat later.
There is a slew of data out from the eurozone today but one should pay particular attention to Germany’s inflation data at 13:00GMT. Street forecasts for CPI mm and CPI yy are 0.3% and 1.7% vs previous readings of -0.6% and 1.7%.
AceTraderFx Mar 02: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time**: 02 Mar 2020** 04:30GMT
USD/JPY - 108.22… The greenback opened lower in New Zealand and extended its recent losing streak to a near 5-month trough at 107.00 (Reuters) as dovish comments from Fed’s Powell on Friday together with concerns of the coronavirus increased speculation that the Federal Reserve will cut rates at its next meeting. However, the pair erased its losses and rallied to 108.26 in Asian morning due to the rise in Nikkei-225 (currently up by 234 points or 1.11%).
Dollar’s intra-day rise from 107.00 suggests decline from February’s 9-1/2 month peak at 112.22 has made a temporary low there and consolidation with upside bias remains for stronger retracement to 108.52.
However, offers at 108.80/90 would cap current up move and yield retreat later.
Pay attention to the release of US ISM manufacturing PMI at 15:00GMT. Street forecast is for a slight decrease to 50.5 from previous reading of 50.9.
AceTraderFx Mar 03: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 03 Mar 2020 04:30GMT
EUR/USD - 1.1140… The single currency retreated briefly to 1.1039 ahead of European open, however, price found renewed buying and resumed its recent winning streak and rose to 1.1163 at New York open, then to a 1-1/2 month peak at 1.1185 in New York afternoon due partly to cross-buying of euro especially vs sterling before retreating to 1.1125 at New York close, then marginally lower to 1.1121 in Asian morning today.
Intra-day rebound from 1.1121 suggests the pullback from yesterday’s high at 1.1185 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend to 1.1200/10.
Therefore, buying on dips for a resumption of upmove from February’s near 3-year trough at 1.0778 is favored. However, offers at 1.1230/40 would cap current rise and yield retreat.
Pay attention to the release of EU HICP and core HICP at 10:00GMT. Street forecasts are 1.2% and 1.3% vs previous readings of 1.4% and 1.3% respectively.
AceTraderFx Mar 04: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 04 Mar 2020 04:30GMT
EUR/USD - 1.1165… The single currency proved quite tricky to trade yesterday as despite edging up to 1.1155 in Asia, price dropped to 1.1101 in European morning, then lower to session lows at 1.1096 at New York open. However, the pair erased its losses and rallied to an intra-day high at 1.1213 in New York on usd’s broad-based weakness on the Federal Reserve’s surprise 50 basis points rate cut before retreating swiftly to 1.1142 on profit-taking. Later, price recovered to 1.1194 in New York afternoon before easing in Asian morning.
Euro’s rise above Monday’s high at 1.1185 to 1.1213 yesterday suggests upmove from February’s near 3-year trough at 1.0778 has resumed and further gain towards daily resistance at 1.1239 would be seen after consolidation. However, offers at 1.1250/60 would cap current rise and yield a much-needed correction later.
Pay attention to the release of EU retail sales mm and yy at 10:00GMT. Street forecasts are 0.6% and 1.1% vs previous readings of -1.6% and 1.3% respectively.
AceTraderFx Mar 05: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 05 Mar 2020 04:30GMT
EUR/USD - 111.42… The single currency retreated in Asia yesterday after Tuesday’s rise to a 2-month peak at 1.1213 and dropped to 1.1144 ahead of European open before rallying to an intra-day high at 1.1186 in early European morning. However, renewed selling there knocked price down and the pair tumbled to session lows at 1.1096 in New York morning due partly to cross-selling of euro especially vs sterling. Later, the pair rebounded to 1.1144 in New York afternoon and continues to trade with a firm bias in Asia today.
Euro’s strong rebound from yesterday’s low at 1.1096 signals pullback from Tuesday’s high at 1.1213 has ended there and consolidation with upside bias remains for gain to 1.1185/90.
However offers below said top at 1. 1.1200/10 would limit current rise and yield retreat.
AceTraderFx Mar 06: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 06 Mar 2020 04:30GMT
USD/JPY - 105.85… The greenback met renewed selling at 107.73 in Australia yesterday and dropped to 107.46 in Asia, then lower to 106.80 in European morning. The pair continued to ratchet lower and fell to a near 6-month trough at 105.98 at New York closing after penetrating Wednesday’s low at 106.86 due to the selloff in U.S. stocks (Dow Jones ended the day down by 969 points or 3.58%). Despite staging a minor rebound to 106.34 in Tokyo morning, price fell below yesterday’s low to 105.84 due to the plunge in Nikkei-225 (currently down by 560 points or 2.63%).
Dollar’s intra-day break of yesterday’s 25-month trough at 105.98 signals decline from February’s 9-1/2 month peak at 112.22 remains in progress and further weakness to 105.75, then 105.40/50 would be seen.
However, bids at 105.10/20 should contain current fall and yield a much-needed correction later.
There is a slew of data to be released from the U.S. today but market focus is on the jobs report at 13:30GMT. Street forecasts for non-farm payrolls and average earnings are 175k and 0.3% vs previous readings of 225k and 0.2% respectively. A surprise to the downside in either of these figures could provide the Federal Reserve with the case of additional monetary policy action.
AceTraderFx Mar 09: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 09 Mar 2020 04:30GMT
USD/JPY - 102.50… The greenback finally gains some respite in hectic trading on early Monday. Price opened lower on risk-aversion as oil priced tanked and dropped to 103.54 in New Zealand before swiftly rebounding to 104.26 at Tokyo open. However, the pair met renewed selling there and fell to a 40-month trough at 101.57 in Asian morning as U.S. 30-year yields fell to record lows together with a selloff in Asian equities (Nikkei-225 is currently down by 1276 points or 6.15%) before staging a short-covering rebound to 102.70.
Dollar’s sharp recovery from 101.57 suggests medium-term decline has possibly made a temporary low there and choppy trading with upside bias would be seen.
However, offers at 102.80/90 should limit upside and yield another fall later.
In the absence of key U.S. economic data today, investors should pay close attention to news headlines as fears about contagion from the coronaviurs continue to linger.
AceTraderFx Mar 10: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 10 Mar 2020 04:30GMT
EUR/USD - 1.1408… The single currency proved quite tricky to trade yesterday as despite opening higher and rising to a 13-month peak at 1.1494 in Asian morning on usd’s broad-based weakness, price retreated to 1.1366 in European morning. The pair then rebounded to 1.1484 in New York morning on cross-buying in euro especially vs sterling but only to retreat again to 1.1373 in Asian morning today.
Euro’s intra-day rebound from Asian low at 1.1373 suggests the pullback from yesterday’s 13-month peak at 1.1494 has possibly ended and consolidation with uspide bias remains for 1.1470/80, then 1.1494 again. Bids are now seen at 1.1370/80 with stops building up below there whilst initial offers are noted at 1.1510/20.
Pay attention to the release of EU final GDP data for Q4. Street forecasts for qq and yy are to remain unchanged at 0.1% and 0.9% respectively.
AceTraderFx Mar 12: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 12 Mar 2020 04:30GMT
EUR/USD - 1.1294… The single currency proved quite tricky to trade yesterday as despite trading with a firm bias in Asia and edging up to session highs at 1.1366 in early European morning, price retreated sharply to 1.1302 in Europe before rebounding to 1.1351 at New York open. However, renewed selling there knocked price down and the pair tumbled to 1.1258 in New York morning, then lower to 1.1251 in Australia today. Later, price erased its losses and rallied to 1.1333 in Asian morning on usd’s weakness due to falling U.S. yields and stocks.
Euro’s intra-day rebound from 1.1251 suggests the correction from Monday’s 13-month peak at 1.1494 has possibly ended there and consolidation with upside bias remains for stronger retracement to 1.1351, then 1.1366. However, initial offers at 1.1390/00 should cap current rise and yield retreat later.
Market focus is now on the European Central Bank’s rate decision at 12:45GMT, followed by President Lagarde’s presser at 13:30GMT. Investors should pay close attention to what steps the central bank will take to contain the current global growth concerns after the Federal Reserve and Bank of England announced surprise rate cuts recently.
AceTraderFx Mar 13: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 13 Mar 2020 04:30GMT
USD/JPY - 105.17… The greenback swung wildly in hectic trading yesterday as despite initially falling to 103.10 in Asian morning, price rebounded strongly to 104.28 in Asia. The pair then found renewed buying at 103.52 in European morning and rallied to 105.85 in New York morning, then higher to session highs at 106.08 in New York afternoon on speculation that the Federal Reserve will inject additional liquidity. However, lack of follow-through buying triggered profit-taking and price retreated sharply to 104.51 at Tokyo open today before recovering to 105.27.
Dollar’s selloff from yesterday’s high at 106.08 to 104.51 today suggests upmove from Monday’s 3-1/2 year trough at 101.19 has made a temporary top there and subsequent rebound would yield choppy trading before prospect of another fall to 104.20.
Offers are now seen at 105.20/30 and more above at 105.40/50 with stops building up above there whilst initial bids are noted at 104.00/10.
Pay attention to the release of University of Michigan Consumer Sentiment at 14:00GMT. Street forecast is for a drop to 95.0 from previous reading of 101.0.