AceTraderFx Dec 14: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
14 Dec 2018 03:00GMT
USD/JPY - 113.46… Despite yesterday’s gain to a 9-day high of 113.71 in New York morning on renewed usd’s strength due to modest minor gains in U.S. stocks n treasury yields, dlr fell in Asia as renewed weakness in Asian equities after release of downbeat China industrial production and retail sales triggered safe-haven yen buying, suggesting range trading is in store ahead of European open.
Having said that, usd’s intra-day firmness vs other major currencies (esp. vs commodity currencies) suggests trading the greenback from long side is the way to go for re-test of last week’s 113.85, however, reckon res at 114.04 should cap upside today.
Bids are noted at 113.40-35 with stops below 113.10 and more below 113.00.
Offers are tipped at 113.75/85 with stops above there.
T.G.I.F., U.S. will release a slew of eco. data starting with Nov retail sales, industrial prod., mfg. output, capacity utilization, Market mfg n services PMIs and bus. inventories.
AceTraderFx Dec 19: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
19 Dec 2018 03:00GMT
USD/JPY - 112.45… Despite initial brief break of previous December’s 112.24 low to a 6-week trough of 112.19 after tripping stops below said sup, lack of follow-through selling quickly prompted broad-based unwinding of yen crosses and lifted price to 112.49, suggesting recent decline has made a temporary low there.
Having said that, falling US. Treasury yields where benchmark 10-year hovering around intra-day fresh 6-month low at 2.799% suggests selling dlr on corrective rebound is the way to go for weakness towards 111.38 (Oct low) as market is anticipating a dovish hike from the Fed later today.
Offers are tipped at 112.55/65 with stops above 112.90.
Some bids are noted at 112.20-00 with stops reported below there.
On the data front ahead of Fed’s rate decision n Fed Chair J. Powell’s post-FOMC presser, U.S. will release MBA mortgage applications, current account and exiting home sales.
AceTraderFx Dec 20: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
20 Dec 2018 03:00GMT
EUR/USD - 1.1380… Although euro is currently trading roughly where its was at 24 hours ago, price went through a roller-coaster rise in hectic Wed’s trading. Price met buying interest at 1.1361 in Australia on Wednesday and climbed erratically to session highs of 1.1440 in New York morning but only to tumble to 1.1365 after Fed’s rate hike n less dovish FOMC statement.
Euro’s decline from 1.1440 suggests choppy trading below last week’s high at 1.1443 would continue and intra-day usd’s strength vs other G7 currencies signals downside bias remains.
Offers are tipped at 1.1390/00 and more above with stops reported above 1.1445.
Some bids are noted at 1.1365-55 with stops touted below 1.1330.
Eco. calendar is pretty light with Italy’s PPI and EU’s current account being the only data due at 09:00GMT.
AceTraderFx Dec 21: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
21 Dec 2018 03:00GMT
EUR/USD - 1.1452… Euro trades narrowly in quiet Asian morning as yesterday’s intra-day ‘wild’ swings in volatile New York session have deterred Asian traders from buying the euro despite Thursday’s initial gain to a 5-week high of 1.1486 in European morning, however, selloff in U.S. stocks triggered intra-day brief but sharp rebound in the usd and knocked the pair to 1.1403 before another bout of buying interest emerged and lifted price back up to 1.1485.
Despite yesterday’s choppy swings, euro’s break of prev. key daily res at 1.1472 confirms recent erratic rise from 2018 bottom at 1.1216 (November) has finally resumed n price is en route to next chart obj. at 1.1500, then 1.1550 next week.
Therefore, buying euro on dips is recommended.
Bids are noted at 1.1420-00 area with stops below there whilst offers are tipped at 1.1480/00 area with stops reported above 1.1500.
The euro area countries will release some eco data starting with Germany’s Gfk consumer confidence, import and export price, then France’s eco. climate, consumer spending, final GDP n PPI and Italy’s business n cosumer confidence. ECB’s Vice President will deliver a speech in Mardid at 11:00GMT.
AceTraderFx Dec 24: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
24 Dec 2018 03:00GMT
EUR/USD - 1.1378… Euro gains respite in holiday-thinned quiet trading in Asia after Friday’s intra-day selloff from 1.1475 (Europe) to as low as 1.1355 as renewed weakness in the Dow triggered safe-haven usd and yen buying.
Although price is expected to move sideways until European opening, as Fri’s weakness to 1.1355 suggests recent erratic upmove has made a top at Thursday’s 5-week peak at 1.1486, consolidation with downside bias remains for further weakness esp in New York session due to early close of European markets for the Xmas break.
Order book is pretty light on this holiday-shortened week with some offers tipped at 1.1385/95 n stops above 1.1400/10.
Some bids are noted at 1.1355-50 with stops below 1.1330.
No eco. data is due out from euro area countries n expect trading to be thin as many traders will take long Xmas lunch breaks and dealing operation will end earlier today.
AceTraderFx Dec 27: Intra-Day Market Moving News and Views - USD/JPY
Intra-Day Market Moving News and Views
27 Dec 2018 03:30GMT
USD/JPY - 110.98… Despite Wed’s impressive rally in holiday-thinned New York trading from 110.29 to as high as 111.40 due to active yen-selling on return of risk appetite after a near 5% jump on Wall Street, the greenback pares intra-day gain and retreated to 110.90 in Asia as traders remain cautious on yesterday’s Dow-led rally.
Intra-day retreat suggests dlr’s 1st leg of correction from Tuesday’s fresh 4-month bottom at 110.00 has ended and choppy sideways swings are in store, so one can buy usd on dips or sell on next leg of corrective rise. Order book is pretty thin in post-X’mas holiday trading.
Bids are noted at 110.85-75 with stops below 110.65 while offers are tipped at 111.35/45 with stops reported above 111.50.
On the data front, U.S. will release initial weekly jobless claims, building permits, monthly home price, consumer confidence n new home sales.
AceTraderFx Dec 28: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
28 Dec 2018 03:30GMT
USD/JPY - 110.67… Despite dlr’s strong rebound from 110.46 to 111.10 yesterday due to a late rally in U.S. stocks where the Dow fell 600 points in New York before a bout of buying emerged in afternoon trading n sent price sharply higher n closed up by 260 points at 23138, the pair remained on the back foot in Asian morning on Fri due to broad-based usd’s weakensss even vs the 3 commodity currencies.
Dlr’s intra-day weakness suggests early correction from Tuesday’s fresh 4-month trough at 110.00 has possibly ended at 111.40 and choppy consolidation with downside bias remains but thin market condition has caused many intra-day choppy swings. Offers are tipped at 110.90/00 with stop above 111.10 whilst bids are noted at 110.5545 with stops below 110.40, more stops are reported below 110.00.
T.G.I.F. but U.S. will release a slew of eco. data which will cause more price swings starting with trade balance, wholesale inventtories, then Chicago PMI, new home sales n pending home sales.
AceTraderFx Dec 31: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
31 Dec 2018 03:30GMT
USD/JPY - 110.36… Dlr gains respite on this final trading day of 2018 in holiday-thinned Asian morning after Friday’s fall from 111.04 (AUS) to as low as 110.15.
Japan, Singapore and other Asian centres are closed for bank holiday today (many European centres are also closed), suggesting range trading above last Tuesday’s fresh 4-month trough at 110.00 would continue and week’s reportedly constructive telephone talk between U.S. Trump and China’s Xi on trade issues should calm both equity and forex market, therefore, range trading is the name of the game this Monday.
Order book is pretty thin with some offers touted at 110.45/55 with stops above 110.60, a mixture of bids n stops is reported at 110.00-109.95.
The only eco. data due out later today in the U.S. is Dallas Fed mfg business index for Dec. Happy New Year !
AceTraderFx Jan 02: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
02 Jan 2019 03:30GMT
USD/JPY - 109.62… The pair started the official 1st trading day in 2019 on the back foot in holiday-thinned Asian morning (Japanese markets are closed for Bank holiday until Fri), hovering just above Monday’s 6-month trough of 109.57 (New York low) as U.S. govt. shut down as well as falling U.S. Treasury yields (benchmark 10-year hit a near 11-month low of 2.679%, circa 2.686%) have triggered broad-based safe-haven yen buying.
Monday’s break of previous December’s 110.00 low (now res) confirms recent downtrend has resumed and price is en route to next chart obj. at 109.20, however, near term loss of downward momentum is likely to keep price above 108.73.
Therefore, whilst selling dlr on intra-day recovery is the way to go, profiit should be taken on subsequent fall.
On the eco. data front, U.S. will release Redbook sales and then Dec Markit mfg PMI.
AceTraderFx Jan 03: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
03 Jan 2019 03:00GMT
USD/JPY - 107.53… Despite moving narrowly in subdued Australian trading, the pair tumbled from 108.91 to as low as 104.79 as sales warning by i-phone giant Apple sent U.S. stock futures lower and triggered a flash crash on the dlr to a 9-month low.
Traders cited massive stop loss buying of yen vs usd, aud, nzd, euro and sterling by Mrs Watanabe (Japanese retail clients who used to thrive on yen carry trades) as well as also trading being the reason for the intra-day flash crash on the pair. Having said that, as dlr has pared intra-day loss n rebounded to 107.86, suggesting recent downtrend has made a low there and price should ‘gyrate’ above this low probably for rest of this month, so range trading is the way to go but traders obviously would want to sell the dollar for another downside test.
As Japanese financial markets are still closed for Bank holiday until Friday, order book is very light with offers tipped at 107.75/95 and stops above 108.00.
Ahead of Fri’s key jobs report, U.S. will release a slew of eco. data starting with building permits, ADP private payrolls, trade balance, jobless claims, wholesale inventories, ISM New York index, new home sales, construction spending n ISM mfg PMI.
AceTraderFx Jan 04: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
04 Jan 2019 03:00GMT
USD/JPY - 107.74… Dlr is maintaining a relatively steady posture in subdued Tokyo trading after yesterday’s flash crash to a 9-month bottom at 104.79 due to thin liquidity in Australian morning.
The fact that price was able to erase almost the intra-day decline n ratcheted higher to 108.30 in New York session suggests recent downtrend has made a temp. low there and choppy sideways swings are expected in next few days.
Having said that, Thursday’s global stock weakness where the Dow had shed 660 points and intra-day selloff in the Nikkie (cira 19251, down 3.8%) as well as falling U.S. yields where the benchmark 10-year is near a 12-month low at 2.5429% suggests consolidation with downside bias is in store but as Japanese financial markets are opened after 4 days closure due to bank holiday together with verbal warning on yen’s volatility should prevent dlr from falling too much.
Offers are tipped at 107.90/00 with stops above 108.30 and bids are noted at 107.40-20 with stops below 107.00.
Market is awaiting release of key U.S. jobs report n also release of a slew of eco. data (please refer to our EI section for details). In addition, pay attention to Fed Chair J. Powell’s comments where he will participate in panel discussion with his former predecessors, Janet Yellen and Ben Bernanke at 15:15GMT in Atlanta.
AceTraderFx Jan 07: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
07 Jan 2019 03:30GMT
USD/JPY - 108.22… Although the pair extended its Fri’s gain to climbed to 108.74 in thin New Zealand trading as rally in U.S. stocks after Fed J. Powell dovish comments (his remarks to the American Economic Association that the Fed is sensitive to market risks that worry investors and is not on a preset path of interest rate hikes) boosted risk appetite and led to broad-based yen selling.
Having said that, dlr’s intra-day retreat ahead of Tokyo lunch hour due to broad-based usd’s weakness suggests intra-day top has possibly been made and consolidation with downside bias is seen for a retracement of the impressive rally from last Thursday’s 9-month bottom at 104.79. Offers are tipped at 108.40/50 with stops above 109.75. Some bids are noted at 108.00-107.80 area with stops touted below there.
Later today, pay attention to release of of a slew of U.S. eco. data starting with building permits, trade balance, wholesale inventories, durable goods, factory orders, ISM non-mfg PMI, new home sales n construction spending. Also Atlanta Fed President Bostic (non-voter) will speak on the economic outlook and monetary policy at the Rotary Club of Atlanta at 17:40GMT.
AceTraderFx Jan 08: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
08 Jan 2019 03:30GMT
EUR/USD - 1.1450… Euro pares yesterday’s rally from 1.1393 (New Zealand) to as high as 1.1484 in New York due to renewed usd’s weakness (except vs the yen). Although price maintained a firm undertone in Australian morning and climbed marginally higher to 1.1485 after Asian open, broad-based profit taking in euro vs usd, yen, gbp and chf knocked price to 1.1442 in Asia, suggesting range trading would continue until European open.
As euro’s rally on Mon to 1.1485 today suggests correction from last Wednesday’s 7-week peak at 1.1497 has ended earlier at 1.1310 (Thursday), outlook remains bullish for re-test of said res, then option barrier at 1.1500 where a break there would bode well for euro to head towards next daily chart obj. at 1.1550.
Bids are noted at 1.1440-1.1430 with stops below there.
Offers are tipped at 1.1475/95 with stops above 1.1500.
The euro area countries will release a slew of eco data starting with Germany’s industrial output, France’s current account, trade balance, import n export price, then we have EU’s business climate, eco., industrial n services sentiment index n consumer confidence index.
AceTraderFx Jan 09: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
09 Jan 2019 03:30GMT
USD/JPY - 108.82… Dlr moves sideways but with a firm bias in relatively subdued Asian trading after yesterday’s strong retreat from Asian 109.09 high to 108.44 due to cross unwinding in yen cross, however, gain in U.S. stocks (the Dow closed up 1% at 23787) has triggered renewed cross-selling in yen and price climbed to 108.87 in Australia.
Intra-day firmness suggests pullback from 109.09 has ended n re-test of this res is envisaged after consolidation, however, reckon res at 109.45 should cap dlr’s upside today. Bids have been raised to 108.70/60 with stops below 108.40.
U.S. will release a slew of eco. data later today starting with trade balance, wholesale inventories, durable goods order, factory orders, new home sales, construction spending and last but not least, FOMC minutes (19:00GMT).
AceTraderFx Jan 10: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
10 Jan 2019 03:30GMT
USD/JPY - 107.91… Dlr remains on the back foot in Asian morning after yesterday’s sellfof from 109.00 (Asia) to as low as 107.98 due to renewed usd’s broad-based weakness triggered initially by intra-day jump in eur/usd in New York morning, then later, release of dovish FOMC minutes n market has scaled back expectation of one rate hike in 2019 from previous 2 increases.
Despite initial recovery to 108.26 at Tokyo open, release of soft China inflation data which led to weakness in Asian stocks and intra-day flat in the commodity currencies triggered renewed safe-haven yen buying and pressured to 108.85. Yesterday’s decline confirms upmove from last Thursday’s 9-month bottom at 104.79 has made a temp. top at 109.09 (Tuesday) and stronger correction toward 107.39 (38.2% r) is now envisaged after consolidation.
Offers have been lowered to 108.25/35 with stops above 108.50.
Some bids are noted at 107.85/80 with stops below 107.50.
U.S. will release a slew of eco. data later today (please refer to our EI section for details. Pay attention to speeches by a no. of Fed officials and in particular to Fed Chair J. Powell’s before the Eco. Clun of Washington at 17:45GMT.
AceTraderFx Jan 11: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
11 Jan 2019 03:00GMT
EUR/USD - 1.1518… Euro pares yesterday’s sharp decline in relatively subdued Asian morning after Thursday’s selloff from an 11-week peak of 1.1570 to as low as 1.1485 in New York.
Despite extending this week’s gain to 1.1570 in Asia on Thursday, broad-based profit taking in active European morning knocked price down to 1.1518. Euro staged a bounce to 1.1545 at New York morning before intra-day decline resumed as usd caught a bid in New York trading, price later tumbled to session lows of 1.1485 following J. Powell’s mildly hawkish comments.
Expect range trading above 1.1485 to continue until European open, however, as yesterday’s near term reversal from 1.1570 suggests recent upmove has made a temp. top at 1.1570, below 1.1485 would yield correction towards 1.1340 (being a min. 38.2% r of the entire rise from 1.1216).
Offers are tipped at 1.1535/45 with stops above there.
Bids are noted at 1.1495/85 with stops touted below there.
Eco. calendar in the euro area countries is pretty light with Italy’s industrial production n EU’s ZEW eco. sentiment index being the only data due out. We have ECB Board member Mesch delivering a speech in Bratislava at 08:20GMT.
AceTraderFx Jan 14: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
14 Jan 2019 03:00GMT
USD/JPY - 108.41… Dlr moves relatively narrowly in subdued Asian trading (Japanese financial markets are closed for Coming-of-age holiday) after Friday’s rally from 108.15 to 108.60 in hectic New York morning due to renewed usd’s strength triggered by intra-day selloff in the eur/usd.
Although price edged higher to 108.57 in New Zealand on renewed weakness in eur/usd, selling interest at 108.60 capped intra-day gain and price has inched lower in Asian morning, indicating range trading is in store until European open, anticipated usd’s strength suggests buy the greenback on dips is favoured.
Bids are noted at 108.25-15 with stops below 108.00.
Offers are tipped at 108.55/60 with stops above there.
U.S. eco. calendar is very thin today and a slew of data may be released (delay due to govt. shut down).
AceTraderFx Jan 15: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
15 Jan 2019 03:00GMT
USD/JPY - 108.45… Dollar rises in lively Asian trading on Tuesday’s morning due to broad-based yen-selling as positive statement from China state planner has boosted risk sentiment.
Despite intra-day gain, broad outlook remains consolidative as early decline from last week’s 109.09 high to 107.77 (Thursday) signals recent upmove has made a temp. top and subsequent daily sideways swings suggest range trading is in store with near term upside bias.
Bids are noted at 108.15-00 area with stops below 107.95 whilst offers are tipped at 108.55/60 with stops above 108.75, more stops are reported above 109.10.
On the U.S. eco. releases later today, we have a slew of data which may include or exclude durable goods due to day because of govt. shutdown. Please refer to our EI section for details. Pay attention to speeches by Fed’s Kashkari, Fed’s George and Fed’s Kaplan
AceTraderFx Jan 16: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
16 Jan 2019 03:30GMT
USD/JPY - 108.47… Dollar pares overnight gain in choppy Asian trading on Wednesday as broad-based weakness in Asian equities led to renewed yen buying.
The pair rose initially from 108.14 (AUS) on Tuesday to 108.75 in Asia n despite intra-day cross-inspired retreat to 108.34 ahead of New York open, intra-day selloff in cable and eur in New York morning led to broad-based usd’s strength and price hit session highs of 108.76 before retreating briefly to 108.38 due to jump in cable.
As dlr’s early erratic rise from 107.77 to 108.76 yesterday signals correction from last week’s high at 109.09 has ended, consolidation with upside bias remains for re-test of said res level.
Bids are noted at 108.40-35 with stops below 108.30 and more stops are reported below 108.00.
Offers are tipped at 108.70/75 with stops above 109.10.
Eco. calendar in the U.S. is very heavy as many data will be released due to U.S. govt. shutdown, please refer to our EI section for details, pay attention to retail sales at 13:30GMT n then factory order, then last but not least, Fed’s Beige Book.
AceTraderFx Jan 17: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
17 Jan 2019 03:30GMT
EUR/USD - 1.1391… Euro gains respite in subdued Asian trading after yesterday’s resumption of recent decline to an 11-day trough of 1.1377 in European morning following Tuesday’s downbeat German data n partly to downbeat comments by ECB President Draghi who said on Tue recent economic developments in the euro zone have been weaker than expected and uncertainties, notably related to global factors, remain prominent.
The intra-day rebound from 1.1377 to 1.1412 in NY session yesterday suggests range trading is in store in Asia n mild upside bias is seen for a minor recovery towards 1.1427 b4 decline from Jan’s 11-week peak at 1.1570 heads to 1.1351 (this is 61.8% r of the Medium Term rise from 2018 low at 1.1216 made in Nov). Therefore, whilst selling euro on recovery is favoured, profit should be taken on next leg of decline as risk has increased for a rebound to take place later today or tom.
Bids are noted at 1.1385-75 with stops below 1.1370 and offers are tipped at 1.1415/25 with stop above 1.1440 n more above 1.1460.
The euro area countries will release a slew of eco. data starting with Italy’s trade bal n global trade balance, then EU’s constriction output, HICP n core HICP. ECB Governing Council Board member Couere will speak sometime during Asian session at the G20 FinMin n central banking governors depuites meeting in Tokyo. ECB’s Lautenschhlager will speak at a conference in Dublin at 11:00GMT.