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.
AceTraderFx May 15: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
15 May 2018 02:10GMT
USD/JPY - 109.73… In stark contrast to yesterday’s weakness in Asian morning, the pair maintained a firm undertone and climbed above o/n New York high of 109.66 to 109.79 as rebound in U.S. yields (where the benchmark 10-year climbed above the 3% level) led to broad-based short covering in usd.
Despite intra-day firmness, as it is our view dlr’s recent volatile price action from May’s 11-week peak at 110.04 is unfolding into a triangle, reckon intra-day upside would falter well below last Thursday’s high (b-leg top) and yield another decline later today.
Offers are tipped at 109.65/75 and more above with stops reported above 110.05/10.
Bids are noted at 109.50-40 with stops below there.
U.S. will release a slew of eco. data n the most important one for this week, Apr retail sales is due out at 12:30GMT together with NY Fed mfg index, then Redbook sales, bus inventories and NAHB housing index.
If retail sales miss forecast of a 0.3% increase, then usd will come under renewed selling but if it turn out to be higher than expectation, then dlr will ratchet higher.
Pay attention to speeches by Dallas Fed’s Kaplan (non-voter) speech at 12:00GMT and then S. Francisco Fed’s Williams (voter) at 17:10GMT.
AceTraderFx May 16: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
16 May 2018 03:00GMT
EUR/USD - 1.1828… Euro remains on the back foot in relatively subdued Asian trading, price fell briefly below Tuesday’s 4-1/2 month low of 1.1820 to 1.1817 in Australia, despite a minor recovery to 1.1835 at Asian open, sellers emerged n pushed price down to 1.1816.
The lack of a corrective bounce, unlike the intra-day strg bounce from 1.1820 to 1.1875 in New York midday suggests downside bias remains for euro to head to 1.1800, then 1.1865/70 after consolidation, however, reckon 1.1718 sup (2017 Dec low) should remain intact today.
Offers are tipped at 1.1840/45 n more above with stops above 1.1875.
Some bids are noted at 1.1810-00 with stops touted below there.
Euro was sold after downbeat EZ data, today, we have Germany’s final CPI, Italy’s industrial sales and output, CPI n the same from the EU. at 12:15GMT, ECB President Draghi will speak at a farewell event for ECB VP Constancio, then at 12:30GMT, ECB’s Coeure will speak at the same event followed by ECB’s Praet at 14:30GMT.
AceTraderFx May 17: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
17 May 2018 03:10GMT
USD/JPY - 110.18… Despite initial firmness at Tokyo open due to rising U.S. yields where benchmark 10-year climbed marginally above yesterday’s fresh 7-year high of 3.104% to 3.108%), usd’s broad-based retreat knocked price from 110.39 to 110.08, suggesting further choppy trading below Tuesday’s 3-month peak at 110.45 would continue.
As long as yesterday’s low at 110.04 (prev. May’s high, now sup) holds, dlr’s recent uptrend should resume after present choppy consolidation is over n buying on dips for intra-day n day trades are still favoured. Bids are noted at 110.10-00 with stops below there. Offers are tipped at 110.40/45 with stops reported above 110.50.
U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey and then leading indicator. We have several Fed officials making speeches today, pls refer to our EI page for details.
AceTraderFx May 18: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
18 May 2018 03:00GMT
USD/JPY - 110.94… Dlr reigns supreme vs the interest -rate-sensitive Japanese yen n hits a fresh 3-1/2 month peak of 110.99 in Asian morning on Fri.
Despite trading narrowly in Australia, the pair easily penetrated Thursday’s high at 110.86 (New York) as U.S. benchmark 10-year yield popped higher again after Tokyo open (10-year rose above Thursday’s fresh near 7-year high of 3.1224% to 3.1279%) and climbed to 110.99 and present firmness suggests price would flirt with 111.00 level soon but unless U.S. yields continue to move sharply higher, reckon minor res at 111.48 should cap upside.
Therefore, whilst trading the greenback from long side is the way to go, profit should be taken on next leg of upmove as pre-weekend profit taking may occur later in New York session.
Bids are noted at 110.80-70 with stops below 110.60.
Offers are tipped at 111.00/10 with some stops touted above there.
Although no U.S. eco. data is due out today, 3 prominent Fed officials will be speaking during the day, starting with Cleveland Fed President Mester (voter) at 07:00GMT in Frankfurt, then Dallas Fed’s Kaplan (non-voter) at 13:15GMT n also at the same time but in a different place, Fed Board Gov. Brainard (voter).
AceTraderFx May 21: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
21 May 2018 03:00GMT
USD/JPY - 111.00… Dlr regains traction in Asian trading on Mon after retreating from Friday’s 4-month high of 111.08 to 110.61 in New York morning due to falling U.S. yields. However, price opened higher to 110.98 in New Zealand (Friday’s New York close was 110.74) as easing of U.S./China trade tension (see 23:52GMT news) boosted risk appetite and intra-day rebound in U.S. yields led to broad-based usd’s strength, the pair later climbed to as high as 111.07.
Intra-day firmness suggests price would head higher to 111.25/30 after consolidation, however, reckon minor daily res at 111.48 would hold on 1st testing.
Bids are noted at 110.90-80 n more below with stops below 110.60.
Offers are tipped at 111.05/10 with sine stop above there.
U.S. eco. calendar is very light with Chicago Fed national activity index being the only data due out at 12:30GMT. We have 3 Fed officials speaking later in the day, starting with Atlanta Fed’s Bostic (voter), then Philly Fed’s Harker (non-voter) and Minneapolis Fed’s Kashkari (non-voter) at 21:30GMT.
AceTraderFx May 23: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
23 May 2018 03:30GMT
EUR/USD - 1.1751… Despite trading narrowly in New York afternoon session following yesterday’s decline from 1.1830 (Europe) to 1.1770 in New York morning, the single currency fell in Asian morning due partly to intra-day selloff in eur/yenandn eur/chf.
Present firm break of yesterday’s low at 1.1757 strongly suggests the correction from Monday’s 6-month trough at 1.1717 has ended and price is en route to re-test this temp. sup level after consolidation, however, there is market chatter of option defence at 1.1700, so this level may not break easily without a fight. However, for now, selling euro on intra-day recovery is the way to go.
Offers are tipped at 1.1770/80 and more above with stops above 1.1800.
Some bids are noted at 1.1750 and more at 1.1720/25 with stops below 1.1700.
Today is PMI day in the euro area countries, France with kick off with unemployment rate, Markit mfg n services PMI, then the same from Germany n the the EU. ECB’s Angeloni will speak at a conference on Brussels at 09:00GMT.
AceTraderFx May 24: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
24 May 2018 03:30GMT
USD/JPY - 109.61… Dlr gained no respite in another hectic Asian morning on Thursday. Despite staging a rally from Wednesday’s 1-week low of 109.56 (Europe) to as high as 110.32 due to renewed usd’s strength in New York, the release of mildly dovish Fed minutes sent U.S. yields sharply lower, knocking the benchmark 10-year decisively below the 3% mark n the greenback fell broadly in New York afternoon.
Dlr met renewed selling at 110.10 (AUS) and tumbled in Asian morning as U.S. yields continue its o/n fall, price penetrated 109.56 sup to intra-day low of 109.45 before stabilsing.
The lack of a rebound ahead of Tokyo lunch session suggests decline from Monday’s 4-month peak at 111.40 is likely to pressure the buck in early European trading but reckon daily sup at 109.15 would contain weakness.
Offers are tipped at 109.75/85 and more above with stops above 110.00.
Bids are noted at 109.45-40 and more below with stops reported below 109.10.
U.S. will release a slew of eco. data starting with weekly jobless claims, monthly home price, existing home sales n KC Fed mfg index. We have a number of Fed officials scheduled to speak later in the day, please refer to EI page for details.
AceTraderFx May 25: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
25 May 2018 03:30GMT
USD/JPY - 109.62… In total stark contrast to yesterday’s weakness in Asia, the greenback popped higher at Tokyo open as traders sold the yen broadly in delayed reaction to conciliatory (dovish) statement by North Korea to leave the door open for U.S./N. Korea summit meeting, the statements by KCNA were released in Australian morning (22:29GMT by Reuters).
The pair subsequently rallied to 109.74 after tripping stops above 110.40 before easing.
Looks like yesterday’s 2-week trough at 108.96 (due to broad-based usd’s weakness after Trump called off the U.S./N. Korea summit meeting) will hold from here, so choppy trading with near term upside bias is seen for a retracement of dlr’s decline from Monday’s 4-month peak at 111.40.
Bids are noted at 109.45-35 and more below with stops below 109.10, more stops are reported below May’s low at 108.65.
Its’s T.G.I.F. but we still have to some fairly important U.S. eco. data due out later in the day starting with durable goods order n then University of Michigan consumer confidence which will move the dlr. In addition, we have a number of Fed officials scheduled to speak during New York session (please refer to EI page for details), Fed chairman J. Powell will be speaking at a central bank conference organised by Riksbank in Stockholm at 13:20GMT, other central bankers will also be attending n speaking in the event.
AceTraderFx May 28: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
28 May 2018 03:15GMT
USD/JPY - 109.44… Dlr erased initial gain after climbing above Friday’s New York high of 109.57 to 109.82 in New Zealand as weelend news which revived U.S/North Korea summit meeting hopes boosted risk sentiment which led to intra-day broad-based yen selling.
However, lack of follow-through buying in early Asian trading led to retreat in the greenback as yen regained traction, price fell back to 109.32/33.
Intra-day cross-inspired retreat from 109.83 suggests near term rise from last week’s low at 108.96 (Thursday) has made a temp. top and sideways swings are in store and with London market closed for Spring Bank holiday and then the U.S. financial markets closed for Memorial Day holiday, range trading will be the order of the day.
Offers are tipped at 109.75/85 with stops above 109.90.
Bids are noted at 109.35/30 and more below with stop below 109.10, then more below 108.90.
AceTraderFx May 29: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
29 May 2018 03:45GMT
EUR/USD - 1.1626… The single ccy gained a bit of respite in subdued Asian trading after yesterday’s wild moves before hitting a fresh 6-1/2 month trough of 1.608 in North American morning as renewed political turmoil in Italy as well as Spain (the two being EZ’s 3rd and 4th largest economies respectively) unsettled investors, leading to broad-based selling of euro, the sudden widening of Germany-Italy bond yield spread contributed to euro’s intra-day decline.
Although Asia has seen relative calm following yesterday’s euro’s selloff, renewed selling is expected to emerge in Europe if said Germany-Italy bond spread continues to widen n market (speculators) is eyeing key daily sup at 1.1554 (2017 Nov low) as the downside target to aim for. Offers have been lowered to 1.1635/45 with stops above 1.1675 .
Some bids are noted at 1.1610-00 n more at 1.1580/70 with stops reported at 1.1550.
On the eco. data front, we have France’s consumer confidence, then the same from Italy as well as business confidence.
AceTraderFx May 30: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
30 May 2018 03:25GMT
USD/JPY - 108.62… Dlr swung broadly sideways in nervous trading in Asia following yesterday’s selloff to a 5-week trough of 108.12 in New York afternoon.
Although the pair staged a short-covering rally from European low of 108.43 to 109.10 in New York morning, traders bought the safe-have yen broadly after U.S. said will continue to pursue action on trade with Beijing, falling U.S. yields where benchmark 10-year yield hit 6-week lows of 2.759% together with decline in U.S. equities (the Dow closed down 1.5% at 24361) knocked price down to 108.12 before recovering to 108.79 at the close.
Despite initial retreat to 108.35 ahead of Tokyo open, intra-day minor bounce in Asia on recovery in U.S. yields suggests choppy sideways swings above 108.12 would continue and intra-day players can trade dlr from both sideways of the market.
However, day traders should still sell the greenback on corrective rally as Asian stocks are deeply in the red and reckon 109.00/10 should cap upside.
For now, bids are noted at 108.40-35 with stops below 108.10.
Offers are tipped at 108.75/80 and more above with stops touted above 109.15/20.
If market does normalise later in the day, traders will pay attention to release of a slew of U.S. eco. data starting with the volatile U.S. ADP private payrolls, A1 GDP, core PCE, goods balance, wholesale inventories, Redbook retail sales n last but not least, Fed beige book.
AceTraderFx May 31: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
31 May 2018 03:30GMT
EUR/USD - 1.1657… In stark contrast to yesterday’s softness in Asian, Euro stood tall in Thursday trading after yesterday’s impressive rally from 1.1518 (Asia) to as high as 1.1676 in New York morning.
Euro’s rally began shortly after European open as shorts started to cover their position when Italy bond market stayed calm and intra-day rise gathered momentum after breaking res at 1.1590/00.
Price hit intra-day high of 1.1648 at New York open, despite a pullback to 1.1595 near European close on profit taking, news of Italy’s 5-Star calls for eurosceptic Savona to withdraw candidacy for Economy Ministry to allow government to be formed triggered another wave of broad-based euro buying and this quickly sent price hitting session highs of 1.1676.
Although yesterday’s rally to 1.1676 does not signal a reversal of recent euro’s downtrend as a day does not make a trend, the fact that traders cited heavy euro buying by real money (short covering ahead of Friday’s NFP) suggests a temporary bottom is in place and upside risk still points for a higher euro later today, so buying the single currency on pullback is still favoured.
Bids are noted at 1.1650-40 n more below with stops below 1.1590.
Offers are tipped at 1.1670/80 with stops above 1.1700, however, more selling interest is touted at 1.1730-50 area which will be a tough nut to crack, so position traders can look to sell euro on next leg of upmove.
On the data front, we have France’s CPI and PPI, Italy’s unemployment and CPI, then the same data from the EU.
AceTraderFx Jun 01: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
01 Jun 2018 03:00GMT
USD/JPY - 109.05… Despite trading narrowly initially in Asian morning, dlr jumped after BoJ surprised the market by cutting the size of its purchase in JGBs with more than 5 to 10 years left to maturity by 20 billion yen to 430 billion yen in its open market operation.
The pair swiftly climbed above 109.00 after the BoJ news and hit 109.19 after tripping stops above 109.10, intra-day firmness suggests recent decline has made a temp. low at Tuesday’s 5-week trough at 108.12 and stronger retracement to 109.30/40 is likely to be seen after consolidation.
Therefore, for st trade, buying dlr on dips is favoured but profit should be taken ahead of key U.S. jobs report later today.
For now, bids have been raised to 109.00-108.90 and more below with stops below 108.60.
Offers are tipped at 109.20/30 with stops touted above 109.50.
Today is the first trading day of a new month as well as the 1st Friday of June, so we have release of the blockbuster U.S. NFP as well as other jobs data including the important average hourly earnings, if readings of these 2 data beat forecast, then the greenback would strength across the board, however, if they miss estimate, then be prepared for a stronger retracement of recent usd uptrend after hitting a 6-month high of 95.025 (Tuesday).
U.S. will also release Markit mfg PMI, then ISM mfg PMI n construction spending. Minneapolis Fed President Kashkari will be speaking at 12:55GMT and Dalls Fed President will speak after New York close at 00:30GMT (Saturday).
AceTraderFx Jun 01: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
01 Jun 2018 03:00GMT
USD/JPY - 109.05… Despite trading narrowly initially in Asian morning, dlr jumped after BoJ surprised the market by cutting the size of its purchase in JGBs with more than 5 to 10 years left to maturity by 20 billion yen to 430 billion yen in its open market operation.
The pair swiftly climbed above 109.00 after the BoJ news and hit 109.19 after tripping stops above 109.10, intra-day firmness suggests recent decline has made a temp. low at Tuesday’s 5-week trough at 108.12 and stronger retracement to 109.30/40 is likely to be seen after consolidation.
Therefore, for st trade, buying dlr on dips is favoured but profit should be taken ahead of key U.S. jobs report later today.
For now, bids have been raised to 109.00-108.90 and more below with stops below 108.60.
Offers are tipped at 109.20/30 with stops touted above 109.50.
Today is the first trading day of a new month as well as the 1st Friday of June, so we have release of the blockbuster U.S. NFP as well as other jobs data including the important average hourly earnings, if readings of these 2 data beat forecast, then the greenback would strength across the board, however, if they miss estimate, then be prepared for a stronger retracement of recent usd uptrend after hitting a 6-month high of 95.025 (Tuesday).
U.S. will also release Markit mfg PMI, then ISM mfg PMI n construction spending. Minneapolis Fed President Kashkari will be speaking at 12:55GMT and Dalls Fed President will speak after New York close at 00:30GMT (Saturday).
AceTraderFx Jun 04: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
04 Jun 2018 03:10GMT
USD/JPY - 109.63… The pair maintained a firm undertone in fairly quiet trading in Asian morning after Friday’s gain to 109.74 following release of robust U.S. jobs data.
Despite initial flat open in Australia (New Zealand market is closed for holiday), rebound in U.S. yields triggered broad-based yen selling at Tokyo open n price quickly climbed to intra-day high at 109.77.
However, dlr soon retreated due to lack of follow-through buying, suggesting range trading is in store ahead of European open.
Dlr’s strong rise from last Tuesday’s 5-week trough at 108.12 suggests recent decline has made a temp. low there and consolidation with upside bias remains for further gain, so buying the pair on dips is still favoured.
Bids have been raised to 109.55-45 with stops below 109.40.
On the upside, offers are tipped at 109.75/80 and more above with stops touted above 110.00/05.
After Friday’s key U.S. jobs data, U.S. will release ISM New York index, April durable goods order and then factory goods order.
AceTraderFx Jun 05: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
05 Jun 2018 03:00GMT
USD/JPY - 109.85… Dlr maintains a steady undertone in fairly subdued Asian trading after rising briefly above o/n New York high of 109.85 to a 10-day peak of 109.99, however, offers at 110.00 checked intra-day gain and the pair slipped back to 109.78.
Yesterday’s cross-inspired rise above last Friday’s 109.74 high and then to 109.99 due to rising U.S. Treasury yields suggests the buck still has legs to climb above 110.00 level but near term loss of upward momentum is likely to prevent strong gain and reckon res at 110.32 would cap upside.
Therefore, whilst buying the pair on dips is still recommended, profit should be taken on next leg of upside.
Bids are noted at 109.75-70 and more below with stops below 109.35.
Offers are tipped at 109.95/110.05 with stops touted ab0ve there.
On the data front, U.S. will release Redbook retail sales, Markit services PMI, ISM non-mfg PMI n JOLTS job openings in New York morning.
AceTraderFx Jun 06: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
06 Jun 2018 03:10GMT
EUR/USD - Euro maintained a firm undertone in subdued Asian trading after yesterday’s wild swings in hectic New York trading.
Despite intra-day fall from 1.1717 (Europe) to session lows of 1.1653 due to rise in Italian bonds yields as well as widening of bond spread between German and Italian bonds, the single currency jumped on Bloomberg report that the ECB will broadcast its next meeting on Jun 14 ‘live’ where many think ECB policymakers will debate a QE exit.
Shortly afterwards, the new Italy PM’s Conte said its country will remain in the euro zone, euro rallied to 1.1732 before moving narrowly.
Although Asian traders are reluctant to take the euro higher, pay attention to reaction of above news reports from European traders when they come in.
Bids are noted 1.1710-00 with stops below 1.1650.
Offers are tipped at 1.1740/50 with stops above there.
Although no important EZ data is due out today, we have ECB’s Praet and Knot speaking at 07:00GMT and 09:00GMT respectively,