AceTraderFx Jul 11: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
11 Jul 2018 03:00GMT
USD/JPY - 110.98… Dlr finally pares intra-day losses after tumbling from 111.27 near NewYork close to 110.80 in Australia on news that U.S. will impose an extra $200 bln in tariffs on Chinese imports, the news triggered broad-based yen buying on risk aversion, price later hit intra-day low of 110.77 in early Asian trading before staging a minor bounce to 111.02 on short covering.
Yesterday’s decline from a 6-week high of 111.35 suggests price is not ready to re-test May’s 111.40 and intra-day weakness to 110.77 confirms recent cross-inspired upmove has made a temp. top there with U.S. yields falling in Asia on the China tariff news, downside bias remains for stronger retracement towards 110.28. Therefore, selling dlr on recovery is the way to go.
Offers are tipped at 111.00/10 and more above with stops reported above 111.40.
Some bids are noted at 110.80-75 with stops below there.
On the data front, U.S. will release MBA mortgage applications, June PPI, wholesale inventories n wholesale sales. Atlanta Fed President Bostic (voter) will speak at 16:30GMT.
AceTraderFx Jul 12: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
12 Jul 2018 03:10GMT
USD/JPY - 112.28… Dlr stands tall in active trading in Tokyo morning session. Despite initial narrow move in Australia after early pullback from a 6-month peak of 112.17 (New York), renewed buying emerged at 111.92 and lifted price, the pair later penetrated 112.17 to 112.35.
Current firmness suggests dlr still has legs to move higher after minor consolidation, so buying the greenback on pullback is the way to go.
Bids have been raised to 112.00-90 with stops below there.
Some offers are tipped at 112.35/45 with stops above112.80.
On the data front, U.S. will release key inflation gauge, Jun CPI, initial weekly jobless claims, real weekly earnings n Federal budget. Minneapolis Fed President Kashkari will speak at 12:30GMT.
AceTraderFx Jul 13: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
13 Jul 2018 03:10GMT
EUR/USD - 1.1667… Euro trades narrowly but with a soft undertone in subdued Asian morning. Despite hitting session lows of 1.1650 after ECB minutes, the pair rallied on short covering in tandem with cable to 1.1696 near New York midday, however, price was then dragged lower by intra-day weakness in sterling and move back to 1.1655 in Australia earlier.
Euro’s retreat from 1.1696 suggests re-test of 1.1650 low would be seen after consolidation, break would extend decline from Monday’s 3-week high at 1.1791 to 1.1630, however, as broad outlook remains consolidative, reckon last week’s low at 1.1591 should remain intact.
Offers are tipped at 1.1675/85 and more above with stops reported above 1.1700.
Bids are noted at 1.165-50 with stops below 1.1630, more stops are touted below 1.1590.
On the data front, Germany will release wholesale price index n the France’s nonfarm payrolls.
AceTraderFx Jul 16: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
16 Jul 2018 03:10GMT
USD/JPY - 112.50… The greenback or the Japanese yen took centre stage in holiday-thinned Asian trading ( Japanese financial market is closed for Marine Day holiday). Although price initially opened lower n fell to 112.12 in New Zealand, a bout of yen selling quickly emerged n lifted price back up to 112.57 in Asian morning.
Intra-day rebound from 112.12 suggests the pullback from last Friday’s fresh 6-month peak at 1112.80 has possibly ended and consolidation with upside bias is in store until European open.
Bids are noted at 112.25-15 with stops touted below 111.90.
Offers are tipped at 112.55/60 n more above with stops above 112.80.
On the data front, U.S. will release a slew of eco. data starting with New York Fed mfg index, June retail sales and business inventories.
Also, U.S. Trump will be meeting Russia’s Putin in Helsinki at 10:15GMT.
AceTraderFx Jul 17: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
17 Jul 2018 03:10GMT
EUR/USD - 1.1708… The single currency moved narrowly in subdued Asian morning after yesterday’s rally to 1.1725 near London midday before briefly retreating to 1.1695 on profit taking in New York.
Looks like range trading would continue until European open, however, as yesterday’s rise above 1.1700 to 1.1725 suggests early correction from July’s 1.1791 peak has ended at 1.1613 on Friday, consolidation with upside bias remains for further headway towards 1.1758, so trading from long side is the way to go.
Bids are noted at 1.1700-1.1695 and more below with stops reported below 1.1670.
Offers are tipped at 1.1720/25 with stops above 1.1760.
Italy is the only euro area country which will release a slew of eco. data starting with industrial order, industrial sales n Jun CPI.
AceTraderFx Jul 18: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
18 Jul 2018 03:10GMT
USD/JPY - 112.94… Although dlr extended yesterday’s gain n briefly climbed above Ne York high at 112.92 to a fresh 6-month peak of 113.08 ahead of Tokyo open, lack of follow-through buying quickly nudged price lower on profit taking, then pair edged back to 112.88/89.
Expect sideways trading ahead of European open, however, as yesterday’s break of last week’s high at 112.80 confirms Medium Term upmove has once again resumed, price is en route towards next daily obj. at 113.39, therefore, buying the greenback on dips due to usd’s broad-based strength following Tuesday’s Fed J. Powell’s upbeat testimony is the way to go.
Bids are noted at 112.80-70 n more below with stops below 112.50.
Offers are tipped at 113.05/15 with stops above 113.30.
On the data front, U.S. will release MBA mortgage applications, building permits, housing starts and then Fed beige book. Fed chairman Powell will speak again on Capital Hill on the second day of his 2-day semi-annual testimony, he will speak before the House Financial Services Committee at 14:00GMT, so usd may remain bid when his prepared text (probably the same one as Tuesday) is released.
AceTraderFx Jul 19: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
19 Jul 2018 03:00GMT
EUR/USD - 1.1642… Euro moved sideways in directionless Asian morning after staging a rebound from Wednesdsay’s 2-week low of 1.1602 to 1.1662 in New York session as broad-based pullback in USD triggered short covering in the euro.
Although said yesterday’s bounce suggests recent decline from July’s 1.1791 peak has made a temp. low there and range trading is in store, as long as 1.1676 (previous sup, now res) holds, consolidation with downside bias remains for another fall later today.
Offers are tipped at 1.1660/65 with stops above 1.1680.
Bids are noted at 1.1630-20 with stops below 1.1590.
No eco. data is due out in the euro area, so technical trading n fund flow will have a strong influence on intra-day price swings.
AceTraderFx Jul 20: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
20 Jul 2018 03:10GMT
EUR/USD - 1.1646… Euro has stabilised ahead of Tokyo lunch break after retreating to 1.1626 led by intra-day decline in eur/yen due to buying of yen on risk aversion after China’s lowered the mid-point fixing rate of the CNY to the lowest level in a year, however, renewed buying quickly emerged n lifted the pair.
Despite continuing its losing streak and hitting a fresh 2-week trough of 1.1575, euro’s subsequent jump to 1.1678 near New York midday following usd-negative comments by Trump in an interview with CNBC (see prev. update for details) suggests recent decline has made a low and consolidation with upside bias remains for a stronger retracement of early fall from July’s 1.1791 peak.
Bids are noted at 1.1650-40 n more below with stops below 1.1600.
Offers are tipped at 1.1665/75 wit stops above 1.1700.
On the data front, Germany will release PPI n then EU’s current account.
AceTraderFx Jul 23: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
23 Jul 2018 03:10GMT
USD/JPY - 110.94… The pair took centre stage in hectic trading on Monday due to broad-based yen buying.
Despite initial narrow trading in New Zealand/Australia morning, renewd usd selling emerged at 111.51 ahead of Tokyo open and price tumbled to an 11-day trough of 110.75 after tripping stops below 111.20.
Trader cited Reuters and other media reports over the weekend that the BOJ could debate changes in its monetary policy at its upcoming meeting, with potential tweaks to its interest rate targets and stock-buying techniques were the main reason for intra-day yen rally. However, the pair briefly recovered after BoJ announced its first unlimited JGB buying since Feb.
Dlr’s selloff from last Thursday’s 6-month to as low as 110.75 signals Medium Term upmove has made a top there and selling the greenback for weakness to next chart obj. at 110.28 is strongly recommended.
Offers have been lowered to 111.20/30 with stops above 111.55.
Bids are noted at 110.75-65 and more below with stops below 110.20.
On the data front, U.S. will release Chicago national activity index n existing home sales later today.
AceTraderFx Jul 24: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
24 Jul 2018 03:10GMT
USD/JPY - 111.25… Dlr reclaimed 111.00 handle after yesterday’s intra-day selloff from 111.51 (Nealand Zealand) to 110.75 in hectic Tokyo trading as jump in JGB yields on media report the BoJ may tweak its policy at its next monetary meeting (Tuesday next week) triggered active yen buying, however, rising U.S. yields helped the greenback erase its intra-day losses n price later climbed to 111.54 in New York morning before easing.
Although st specs pushed price from 111.29 to 111.51 ahead of Tokyo open, dlr fell to intra-day low of 111.06 after PBOC set the yuan’s reference rate to a fresh near 1-year low, however, short covering lifted price to 111.25, suggesting choppy sideways swings are in store until European open.
AS mentioned in yesterday’s update, dlr’s selloff from last Thursday’s 6-month peak at 113.17 to 110.75 on Monday signals long-awaited correction of Medium Term uptrend has occured.
Downside bias remains for price to head back to 110.28 (July bottom), therefore, trading dlr from short side (our daily and weekly strategies are holding short usd positions) is recommended.
Offers are tipped at 111.45/45 with stops above 111.60.
Bids are noted at 111.10-00 and more below with stops below 110.70.
On the data front, U.S. will release Redbook sales, monthly home price, Markit mfg n services PMI n Richmond Fed mfg index.
AceTraderFx Jul 25: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
25 Jul 2018 03:10GMT
EUR/USD - 1.1688… The single currency moved narrowly in subdued Asian trading after yesterday’s uneventful session. Although the pair came under selling pressure in Asia at 1.1702 and fell to session lows of 1.1655 in early European trading, release of upbeat German PMIs triggered short covering n sent price to 1.1717.
However, renewed usd’s strength in New York afternoon pressured price back to 1.1674.
Looks like range trading would continue ahead of release of key German Ifo data, if July’s business climate comes in higher than street forecast, one can expect euro to gain on the back of this data, so trading from long side in expectation of a relatively upbeat number following yesterday’s robust German mfg and services PMIs is recommended. Bids are noted at 1.1680-70 with stops below 1.1650, offers are tipped at 1.1700/10 with stops above 1.1720.
France will kick off with PPI n then followed by Germany’s Ifo data. Also, European Commission President Jean-Claude Juncker will be meeting U.S. Trump to discuss U.S. tariffs on the EU but Trump tweeted earlier he doesn’t see anything productive will come from this (see prev. update).
AceTraderFx Jul 26: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
26 Jul 2018 03:10GMT
USD/JPY - 110.79… The pair remains on the back foot in relatively subdued Asian trading after o/n drop to a 2-week trough of 110.67 due to broad-based usd’s weakness following news of positive trade talk between U.S. Trump n European Commission President Juncker, however, price briefly bounced to 111.08 on active yen selling as aversion of US/EU trade war and gain in U.S. stocks boosted risk appetite.
Although dlr has remained soft in Asian morning due to renewed usd’s weakness as Asian traders are selling the greenback in early Asian trading, suggesting downside bias remains for marginal weakness after consolidation.
Offers are tipped at 111.00/10 n more above with stops above 111.40.
Some bids are noted at 110.70-60 with stops below there.
U.S. will release a slew of eco. data later today starting with the usual weekly jobless claims, durable goods order, trade balance, wholesale inventories n Kansas City Fed mfg index.
AceTraderFx Jul 27: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
27 Jul 2018 03:00GMT
USD/JPY - 110.99… Dlr pared yesterday’s gain and retreated to 110.95 in Asian trading ahead of Tokyo lunch break.
Despite continuing its this week’s losing streak to a fresh 2-week trough of 110.59 at European open, short covering lifted price n intra-day selloff in eur/usd durig post-ECB press conference triggered broad-based usd’s strength, the pair later rallied back to as high as 111.24 in NY afternoon.
Yesterday’s strong bounce from 110.59 to 111.24 signals recent decline has made a temp. low there and intra-day retreat would bring sideways swings, so one can trade the greenback from both sideways of the market but position players should sell dlr on further recovery for resumption of decline next week.
Offers are tipped at 111.20/25 and more above with stops above 111.60.
Some bids are noted at 110.95/90 and more below with stops below 110.55.
Pay attention to release of key prelim. U.S. Q2 GDP as well as core PCE n then University of Michigan consumer confidence. Also St. Louis Fed President Bullard (non-voter) will speak at 12:20GMT.
AceTraderFx Jul 30: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
30 Jul 2018 03:00GMT
EUR/USD - 1.1652… Euro gained respite in quiet Asian morning after extending erratic decline from last week’s high at 1.1750 to a 1-week trough of 1.1621 shortly after NY open on robust U.S. GDP, however, broad-based usd’s retreat due to profit taking lifted the single currency to 1.1664 near the close n price inched higher to 1.1665 in early Asian trading.
Looks like sideways swings are expected ahead of European open, however, near term outlook remains mildly bearish for a re-test 1.1621 after consolidation, loss of downward momentum is likely to limit weakness to 1.1590/00 n bring rebound later today or tom. Therefore, one can trade euro from both side of the market but for position players are advised to buy euro on dips as the Fed is expected to stand pat in its rate decision at its FOMC meeting on Wednesday, such a move should support the euro.
Offers are tipped at 1.1665/75 n more above with stops above 1.1700.
Bids are noted at 1.1630-20 with stops below there, more stops are reported below 1.1575.
On the data front, the EU will kick off with Jul business climate, eco., industrial, services n consumer sentiment indexes n then Germany’s prelim. CPI and HICP data.
AceTraderFx Jul 31: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
31 Jul 2018 03:30GMT
USD/JPY - 110.96… Dollar swung around the 111.00 handle in directionless Tokyo trading as traders are keeping their powder dry in anticipation of BoJ’s policy meeting announcement which is due out soon and market is eager to hear if recent media report the central bank will may minor adjustment to his ultra-loose policy will materialise or not.
For now, range trading would continue with some offers tipped at 111.20/25 and stops are reported above 112.55.
Bids are noted at 110.95-00 with stops below 110.80 and more below 110.50.
U.S. will release a slew of eco. data later today starting with personal income, PCE price index, core PCE price index, Redbook sales, CasShiller home price, Chicago PMI and consumer confidence.
AceTraderFx Aug 01: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
01 Aug 2018 03:10GMT
EUR/USD - 1.1685… Euro remains on the back foot in subdued Asian morning after falling yesterday from 1.1746 to 1.1685 in New York session as usd regained traction on the back of robust U.S. data n gained broadly on short covering vs its G7 peers.
Despite extending near term upmove from 1.1621 (Friday) to 1.1746 yesterday, failure to re-test last week’s high at 1.1750 (Monday) and subsequent decline suggests the single currency is likely to ‘gyrate’ inside recent broad range of 1.1575-1.1750 until release of key U.S. jobs data this Fri, therefore, selling euro on intra-day recovery for marginal weakness or buying on next decline towards 1.1648 is favoured.
For now, offers are tipped at 1.1710/20 and more above with stops reported above 1.1750.
Some bids are noted at 1.1680-70 with stops below 1.1660, more stops are touted below 1.1640.
Today is PMI day in the euro area countries, Italy will kick off with Markit mfg PMI, then the same from France, Germany and the EU.
AceTraderFx Aug 02: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
02 Aug 2018 03:00GMT
EUR/USD - 1.1665… The single currency remains on the back foot in subdued Asian morning after extending decline from Tuesday’s 1-week high at 1.1746 to 1.1658 in New York session, despite a brief bounce to 1.1677 after unchanged Fed’s rate decision price quickly retreated following hawkish FOMC statement.
Expect range trading above 1.16588 would continue ahead of European open, as long as yesterday’s 1.1700 high holds, consolidation with downside bias remains for weakness towards 1.1648 (Monday’s low), however, as broad outlook continues to be consolidative, reckon last week’s low at 1.1621 (Friday) would contain downside and yield rebound later today.
Therefore, intra-day players can sell euro on recovery whilst day traders should buy euro on next leg of decline in anticipation of a rebound to occur ahead of release of Fri’s key U.S. jobs report.
Offers are tipped at 1.1675/85 with stops above 1.1700.
Some bids are noted at 1.1660-50 with stops below 1.1620.
The eco. calendar is pretty thin in the euro area countries with EU’s PPI for June being the only data due out during European morning.
AceTraderFx Aug 06: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
06 Aug 2018 03:00GMT
USD/JPY - 111.20… Dlr remained on the back foot in subdued Asian morning after intra-day selloff on Friday from 111.88 (Europe) to 111.10 in post-NFP New York morning as increased U.S./China trade tensions triggered another fresh round of active yen-buying on risk aversion.
Although range trading is likely to continue, the fact that dlr is unable to stage a recovery despite intra-day rebound in the yuan following Friday’s action by the PBOC to increase reserve requirement of all FX forward positions to 20% effective from Monday suggests downside bias remains for further weakness.
Offers are tipped at 121.30/40 n more above with stops above 111.60, then above 111.90.
Some bids are noted at 111.10/00 with stops below there.
After Friday’s release of key U.S. jobs data, no. economic indicators is due out today, so funds flow will have great impact on intra-day price movement.
AceTraderFx Aug 07: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
07 Aug 2018 03:00GMT
EUR/USD - 1.1561… Euro gained respite in subdued Asian trading after staging a rebound from Mon’s 1-month trough of 1.1530 as renewed usd’s strength n selloff in cable pressured the single currency in European morning, however, short covering later lifted the pair to 1.1570 in New York morning.
Intra-day steadiness suggests range trading above 1.1530 would be seen with mild upside bias and stops above 1.1570/75 are now in focus, however, selling interest at 1.1600/10 are likely to limit intra-day gain.
For now, bids are noted at 1.1540-30 and more below with market chatter of option defence at 1.1500.
On the data front, Germany will start off with industrial output, imports, exports and trade balance, current account, then the similar trade data from France.
AceTraderFx Aug 08: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
08 Aug 2018 03:00GMT
USD/JPY - 111.39… Dlr continues to move in familiar territory in subdued Asian morning after a roller-coaster ride on Tuesday.
Despite y’day’s decline from 111.43 (AUS) to 111.23 in Asia, then decline weakness to 111.00 at New York open due to broad-based usd’s decline in European morning, rebound in U.S. yields n gain in global stocks boosted risk sentiment, leading to active yen selling, the pair later rallied to session highs of 111.47 in New York afternoon before easing.
Dlr’s rebound from 111.00 suggests early decline fm last week’s high as 112.15 has ended and range trading is in store, bis are noted at 111.30-20 and more below with stops below 111.00.
Offers are tipped at 111.45/55 with stops above there.
The only eco. U.S. data due out today is the non-market moving MBA mortgage applications but we have Richmond Fed President Barkin (voter) delivering a speech at a business conference.