AceTraderFx Jul 17: Intra-Day Market Moving News and Views -GBP/USD
Intra-Day Market Moving News and Views
17 Jul 2017 09:00GMT
GBP/USD - 1.3075… The British pound has surrendered some of it’s gains after Friday’s rise to a fresh 13-month peak at 1.3114 due to profit-taking offers n price has retreated to 1.3070 in early European morning AND continues to remain under pressure.
In the absence of major economic data today from UK, focus will be on the Brexit talks, which commence today. Investors should pay attention to headlines coming out from talks between the EU and UK negotiators.
Offers are now seen at 1.3110/20 and more above at 1.3130/40 with stops building up above there whilst bids are lowered to 1.3040/50, suggesting further choppy trading would be seen.
Data to be released today:
UK house price, GDP, EU CPI, core CPI and U.S. New York manufacturing on Monday.
AceTraderFx Jul 18: Intra-Day Market Moving News and Views -GBP/USD
Intra-Day Market Moving News and Views
18 Jul 2017 09:27GMT
GBP/USD - 1.3023… Although the British pound traded with a firm bias in Asia and rose to a fresh 13-month peak at 1.3126 in early European morning, price swiftly pared its gains after the release of poor UK inflation data (see previous MMN) and tumbled to as low as 1.3015 n continues to remain under pressure.
Offers are now seen at 1.3050/60 and more above at 1.3080/90 with stops building up above there whilst initial bids are noted at 1.2970/80, suggesting choppy trading with downside bias would be seen.
AceTraderFx Jul 21: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
21 Jul 2017 02:09GMT
EUR/USD - 1.1631… The single currency is trading over one cent above its yesterday’s level in Asia after ECB Draghi’s hinted at the post-ECB press conference that policymakers will discuss QA in autumn despite release of dovish statement earlier which briefly knocked the euro to session lows of 1.1480.
Intra-day sideways move in Asia following Thursday’s impressive rally to a 22-month peak at 1.1658 is expected to continue as market turned quiet in New York afternoon.
However, buying euro on dips is still the favoured strategy as the trend is your friend.
Bids are noted at 1.1620-00 area with stops reported below 1.1580.
Some offers (profit taking) are touted at 1.1650/60 and more above with stops above 1.1615 (2015 high).
Eco. calendar fm the euro area countries is pretty thin with Italy’s retail sales for Jun the only data today due out at 08:30GMT.
AceTraderFx Jul 24: Intra-Day Market Moving News and Views -GBP/USD
Intra-Day Market Moving News and Views
24 Jul 2017 09:38GMT
GBP/USD - 1.3041… The British pound traded with a firm bias in Asia and gained to 1.3023 ahead of European open and despite a brief pullback to 1.2990 at European open, renewed buying there lifted the pair and cable rose to session high at 1.3049 in European morning due to active cross-buying of strong especially vs euro.
Bids are now seen at 1.3010/20 and more below at 1.2980/90 with stops building up below there whilst initial offers are noted at 1.3110/20, suggesting choppy trading with upside bias would be seen.
Today is also PMI day in the euro area, France will release Markit mfg n services PMIs, the same from Germany as well as monthly report by the German Bundesbank then the same PMIs from Italy.
AceTraderFx Jul 25: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
25 Jul 2017 02:18GMT
EUR/USD - 1.1646… All quiet on the eastern front as yesterday’s intra-day relatively strong retreat from Asian 23-month peak of 1.1684 to as low as 1.1626 took the wind out recent euro’s sails, suggesting choppy sideways swings below said temp. top is in store.
Having said that, as 1.1626 has contained pullback, intra-day upside bias is retained.
Market may well have another go on the upside side to test 2015 high at 1.1715 esp if release of the important German Ifo business climate is above street forecast but if the single currency is unable to take out said yesterday’s high, beware of a broad-based long liquidation in the euro ahead of Wednesday’s FOMC policy decision and more importantly the accompanying statement as if it contains hawkish tone, then usd is ripe for a corrective rally.
Offers are tipped at 1.1660/70 and more above with stops above 1.1700 and more at 1.1720.
Bids are reported are 1.1630-20 with stops below 1.1610.
Euro area countries will release a slew of eco. data starting with Germany’s import prices, France’s PPI, Italy’s industrial orders n sales. Germany’s Ifo bus. climate, current conditions and expectations.
AceTraderFx Jul 26: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
26 Jul 2017 02:35GMT
USD/JPY - 111.94… Dlr trades one yen higher above yesterday’s 110.83 low in Asia on Wednesday as rising U.S. Treasury yields together with upbeat U.S. data sent the pair sharply higher to 111.95 near New York close.
Renewed buying emerged in Australia at 111.85 pushed price to intra-day high of 112.09 at Tokyo open before easing.
Looks like recent decline has made a low at Monday’s 1-month bottom at 110.64 and consolidation with upside bias is in store today ahead of Fed rate decision.
Although no rate hike is expected, traders will focus on the accompanying FOMC statement at 18:00GMT for clue of whether another rate increase will come later in the year or not.
Until then, rising U.S. stocks n firm U.S. yields (benckmark 10-year is currently at 2.3229%, up from last Friday’s 3-week low of 2.225%) are expected to boost risk appetite and yen would remain weak vs usd, euro and sterling.
Bids are noted at 111.85-75 and more below with stops below 111.50.
Offers are tipped at 112.05/10 and more above with stops above 112.50.
Ahead of Fed’s decision, U.S. will release mortgage applications and news home sales.
AceTraderFx Jul 27: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
27 Jul 2017 02:13GMT
EUR/USD - 1.1740… The single currency stands tall in Asian morning after trading comfortably above 2015 peak at 1.1715 following o/n rally in post-FOMC session to 1.1739, then hitting a fresh 23-month high of 1.1748 in Australia earlier today.
As current price is trading well above the 21-hr n 55-hr emas, suggesting intra-day upside bias remains for euro to continue its recent winning streak after minor consolidation, so buying the euro on dips is the way to go (we were long the euro in our intra-day and day trades yesterday and weekly is holding a long at 1.1635 for 1.1785).
Therefore, the theme today is ‘sell usd and wear diamonds’. Bids are noted at 1.1720-10 and more below with stops reported below 1.1680.
Some offers (profit taking) are tipped at 1.1750/60 with some stops touted above 1.1780.
Pay attention to release of Germany’s GFK consumer confidence for Aug at European open (if actual comes in higher than forecast of 10.6, euro will rise), then EU M3 money supply data.
AceTraderFx Jul 31: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
31 Jul 2017 02:50GMT
EUR/USD - 1.1738… Euro pared Friday’s gain in fairly subdued Asian trading on Monday after intra-day rally from 1.1672 (Asia) to 1.1763 in post-GDP New York morning.
Looks like market lacks conviction to re-test last Thursday’s 29-month peak at 1.1777 and further sideways move would be seen before prospect of another rise.
Offers are tipped at 1.1760/70 with stops above 1.1780, more stops are reported above 1.1800.
Bids are noted at 1.1735-25 with stops below 1.1700.
Pay attention to German retail sales at 06:00GMT, then Italy’s unemployment, the same froim the EU, EU and then Italy’s preliminary CPI.
A piece of weekend news on Saturday (refer to 10:00GMT update for details) worth noting, ECB governing council member Sabine Lautenschlaeger said in a newspaper interview published on Sat the ECB should start thinking about how it wants to return to normal monetary policy and when it wants to wind down it bond purchases.
AceTraderFx Aug 03: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
03 Aug 2017 03:30GMT
USD/JPY - 110.65… Dlr went through a roller-coaster rise in Wed’s volatile trading.
Price rose from 110.31 (AUS) on broad-based yen selling to 110.92 in Asia, then hit session highs of 110.98 in early New York trading.
Dovish comments by St. Louis Fed President Bullard sent U.S. Treasury yields lower n in turn knocked the pair to as low as 110.29, however, usd’s broad-based rebound on short covering lifted price back to 110.76 and dlr climbed back to 110.83 at Tokyo open before easing as U.S. yields edged lower.
Looks like ‘range trading’ would be the order of the day after Wed’s wild swings but as 110.00 handle has held, expect more dlr short covering to take place ahead of Friday’s keu NFP.
Bids are noted at 110.55-45 and more below with stops below 110.20, more stops are touted below 109.90.
Offers are tipped at 110.80/00 area with fairly large stops reported above there.
U.S. will release a slew of eco. data starting with weekly jobless claims, Markit servcies PMI, ISM non-mfg PMI and factory orders.
AceTraderFx Aug 04: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
04 Aug 2017 02:36GMT
USD/JPY - 110.10… Dlr rises above 110.00 after initial marginal weakness below Thursday’s 7-week trough of 109.87 hit near New York close to 109.85 at Tokyo open.
Traders cited buying by on bargain hunting by Japanese importers, suggesting range trading is in store in Asia and possibly during European morning as market eagerly awaits release of key U.S. jobs report which will probably dictate usd’s price movement in the coming week.
Having said that, intra-day fall in U.S. Treasury yields where the benchmark 10-year has hit a 1-month low at 2.218% yesterday should prevent strong gain.
Offers are tipped at 110.20/30 with stops above 110.50.
Bids are noted at 109.90-85 with stops below 109.60.
U.S. will release the blockbuster NFP (forecast for July is 183K increase in jobs vs previous reading of 222k) at 12:30GMT, traders will also look at average hourly earnings (MoM) for inflation outlook, unemployment rate, trade balance, then later Dallas Fed PCE.
AceTraderFx Aug 07: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
07 Aug 2017 03:03GMT
USD/JPY - 110.72… Dlr in holding pattern in subdued trading on Monday following last Friday’s rally from a fresh 7-week low of 109.85 (Asia) to as high as 111.05 following robust U.S. jobs report and bullish economic prospect of U.S. corporate tax reform which led to a rise in U.S. Treasury yields.
Current firmness in U.S. yields n with the N225 index trading above the 20,000 level should boost risk appetite and buying on dips is therefore favoured.
Bids are noted at 110.65/55 with stops below 110.45, some offers are tipped at 111.00/05 with stops above there, more stops are reported above 111.30.
Although no eco. data is due out after Friday’s release of key jobs data, pay attention to speeches by 2 Fed officials later today starting with St. Louis President Bullard (non-voter) who will give a presentation the U.S. economy and monetary policy before the America’s Cotton Marketing Cooperatives 2017 Conference at 15:45GMT and then Minneapolis President Kashkari (voter) who will participate in a moderated question-and-answer session at a Sioux Falls Rotary Club event at 17:25GMT.
AceTraderFx Aug 09: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
09 Aug 2017 03:21GMT
EUR/USD - 1.1731… Trading the single currency proved to be tricky yesterday. Despite initial gain to 1.1824 in Asia on Tuesday and maintaining a firm posture in Europe, in the absence of important U.S. data, traders bought usd broadly after U.S. jobs openings surged to record high in June, knocking the euro to a 1-week low of 1.1716 in New York morning.
However, intra-day selloff in dlr/yen led to broad-based usd’s weakness n lifted price to 1.1760 before falling to 1.1720 in Asia today on active cross-selling in euro vs yen, chf and gbp.
Well, yesterday’s break of Friday’s post-NFP low at 1.1729 confirms Medium Term uptrend has indeed made a temp. top last week at 1.1909 (Wednesday) and choppy consolidation with downside bias is seen, there is market chatter of stops below 1.1700, so selling euro on recovery is favoured.
Offers are tipped at 1.1760/70 and more above with stops above 1.1800.
Eco. calendar in the ru zone is very light with Italy’s industrial production bring the only data due out at 08:00GMT.
AceTraderFx Aug 14: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
14 Aug 2017 02:35GMT
USD/JPY - 109.37… Despite extending recent decline to a near 4-month trough of 109.74 in New York morning after tepid U.S. inflation data, dlr met renewed buying earlier in New Zealand at 109.02 and climbed in Tokyo trading to 109.44 due to buying by Japanese names (importers) on bargain hunting.
Looks like consolidation above said temp. low would continue with mild upside bias on a slight easing of U.S.-N.Korean tension (see w/end updates for details).
Bids are noted at 109.10-00 and more below with stops reported below 109.70.
Offers are tipped at 109.45/55 with stops above 109.60.
After Frdayi’s key U.S. inflation data, no eco. data is due out from the U.S. today, so fund flow would have a strong influence in intra-day price swings.
AceTraderFx Aug 15: Intra-Day Market Moving News and Views -USD/JPY
[B]Intra-Day Market Moving News and Views[/B]
[B]15 Aug 2017[/B] [I]03:05GMT[/I]
USD/JPY - 110.20… The greenback stands tall in active Asian trading due to return of risk appetite, leading to broad-based active yen selling as threat of an imminent conflict between U.S. and North Korea dissipated after North Korean official news agency KCNA announced in Australian morning North Korea leader Kim will watch the actions of the U.S. for a while before making a decision and WSJ reported North Korean leader Kim Jong Un has decided not to launch a threatened missile attack on Guam.
In fact, the pair was bid in New York afternoon following hawkish comments by Fed’s Dudley (see early update) and usd buying emerged ahead of Tokyo open n sent price jumping above Monday’s high, price rallied to 110.23 after tripping stops above 109.85, then above 110.00.
Current firmness suggests dlr still has legs to move higher and some stops above 110.25 are in focus, therefore, buying the buck on dips is the way to go as European traders may well buy the usd in reaction to Dudley’s comments and the easing of U.S.-N. Korea tensions.
Bids are noted at 110.00, then 109.80 with stops below 109.40.
There is a mixture of offers and stops at 110.25/30.
U.S. will release a slew of eco. data, pay attention to Jul retail sales, import n exports data, NY Empire State mfg index, Redbook retail sales, business inventories n NAHB Housing Market index. If U.S. retail sales come in stronger than estimate, then usd will get a extra lift n move higher further, if not, this’ll represent an opportunity to buy dlr at lower levels.
AceTraderFx Aug 17: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
17 Aug 2017 03:25GMT
USD/JPY - 109.92… The pair remained on the back foot in hectic Asian trading following yesterday’s intra-day selloff which began in early New York afternoon when Trump announced he was dismantling the manufacturing council, soon afterward, another strategic and advisory group was also disbanded. Dollar’s intra-day fall continued after release of dovish Fed minutes and hit session lows o 110.04 after tripping stops below 110.40.
Despite initial calmness in Australia earlier Thur, sellers emerged n knocked price below 110.00, dlr fell to 109.67 after triggered more selloff stops along the way. Intra-day short covering rebound ahead of Tokyo lunch session suggests range trading is in store until European open and the greenback is likely to face another round of selling from European traders, selling the pair on recovery is therefore favoured.
Offers are tipped at 110.00 and more at 110.20/25 with stops above 110.40.
Some bids are noted at 109.70-60 with stops below 109.40.
U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey, capacity utilisation, industral n manufacturing output n leading indicators.
Last but not least, Dallas Fed President Kaplan (voter) will participate in a moderated Q&A session at the “Dialogue with the Dallas Fed” at 17:00GMT, then Minneapolis Fed President Kashkari (voter) will participate in a moderated Q&A session at 17:45 GMT.
AceTraderFx Aug 18: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
18 Aug 2017 03:05GMT
EUR/USD - 1.1730… Trading the single currency on Thursday proved to be tricky (also costly for some too). Although price extended previous day’s gain to 1.1790 in Asia, the pair came under broadly based selling in European morning ahead of release of ECB minutes and briefly tanked to a 3-week trough of 1.1663 after minutes of its last policy meeting in July showed policymakers warning about a possible market overshoot in the euro after 6 months of gains, however, market rumour of resignation of U.S. Cohn knocked the usd broadly n lifted euro back up to 1.1753.
Although euro ratcheted lower on renewed selling on cross play due to sage haven buying of yen n chf in Australia, buying interest at 1.1709 emerged ahead of Asian open quickly lifted euro, suggesting consolidation with upside bias is in store until European open.
Bids are noted at 1.1710-00 n more below with stops touted below 1.1680.
Offers re tipped at 1.1750/55 n more above with stops reported above 1.1800.
On the eco. data front, Germany will release PPI at 06:00GMT, then EU current account at 08:00GMT n finally construction output at 09:00GMT.
**AceTraderFx Aug 24: Intra-Day Market Moving News and Views -USD/JPY **
Intra-Day Market Moving News and Views
24 Aug 2017 02:25GMT
USD/JPY - 109.18… Dlr gained respite in Asian trading after yesterday’s selloff from 109.83 (Asia) to as low as 108.93 in New York as European and New York traders reacted negatively to Trump’s govt. shutdown threat made earlier in Asian morning.
Although short-term specs gave the pair renewed bashing at New York close and knocked price to 108.85 in Australia after tripping stops below 108.90, lack of follow-through selling and some buying by Japanese names (importers) quickly lifted dlr and price rebounded to 109.23., suggesting choppy sideways swings would be seen.
Bids are noted at 109.00-108.90 and offers are tipped at 109.30/35 with stops above 109.60.
U.S. will release weekly jobless claims, building permits, exiting home sales n Kansas City Fed mfg index.
Today is the start of the 3-day Jackson Hole Symposium but key speakers will start delivering speeches on Friday and Saturday.
AceTraderFx Aug 28: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
28 Aug 2017 02:20GMT
EUR/USD - 1.1926… Although euro opened flat in NZ on Mon following Fri’s spectacular rally which began after Fed Yellen’s JH script was released which did not mention monetary policy, this sent the greenback tanking broadly in New York morning n helped euro rise from 1.1786 to 1.1890, price then jumped above previous Aug’s 1.1909 high to 1.1941 when ECB’s Draghi in his much-awaited JH speech, did not make any reference to recent euro’s strength.
The single currency climbed to a fresh 30-month peak of 1.1963 in New Zealand due to gap-up open in cable, however, price quickly erased intra-day gain and retreated to 1.1922 in Asia as traders are not keen to take the euro higher on Friday’s sharp rise.
Euro’s intra-day pullback from 1.1963 suggests consolidation is in store until European open and if price is trading below Friday’s 1.1941 high, European traders may well buy for another rise but strong gain is unlikely to be seen.
Bids are noted at 1.1925/05 area with stops below 1.1890.
Offers are tipped at 1.1950/60 with stops above 1.1965, there is market chatter of option barrier at 1.2000, so this level may be a tough nut to crack.
EZ calendar is pretty light with Italy’s consumer n business confidence and EU M3 money supply being the only eco. data due out during European morning.
AceTraderFx Aug 29: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
29 Aug 2017 02:20GMT
USD/JPY - 108.73… The Japanese yen took centre stage in hectic Asian trading as tension on the Korean Peninsular is brewing after North Korean contentious launch of another missile (following last Sat’s similar action) early this morning which flew above Japan’s northern territory, short-term specs quickly sold the dlr as well as buying the Japanese yen broadly in thin Australian trading, the pair tumbled from 109.26 to as low as 108.34 after tripping a series of stops below 109.00, then 108.80 n 108.60.
Although dlr regained composure n bounced back to 108.95 on short covering ahead of Tokyo open, the lack of further follow-through buying on bargain hunting by Japanese names (importers) as well as falling U.S. Treasury yields (benchmark 10-year yield hit a near 2-month low of 2.1113%) and Nikkie dropping to a 4-month low today suggests intra-day bearish bias remains and there is market chatter of more stops building below 2017 bottom at 108.13.
Therefore, selling dlr on recovery is the way to go, offers are tipped at 108.90/00 with stops above 109.05. More selling interest is noted at 109.20/30 with stops above 109.45.
Some bids are noted at 109.60-50 with stops below 108.30 and more below 108.10.
Later in the day, U.S. will release Redbook sales, CaseShiller home price n then consumer confidence.
AceTraderFx Aug 30: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
30 Aug 2017 3:00GMT
USD/JPY - 109.78… What a difference a day makes. The greenback was hovering near a fresh 4-month low in Asia 24 hours ago n is currently trading near Asian 1-week high of 109.92.
What a difference a day makes. The greenback was hovering near a fresh 4-month low in Asia 24 hours ago n is currently trading near Asian 1-week high of 109.92.
Despite Tuesday’s safe-haven buying of yen n the Swiss franc, dlr rallied near NY midday as U.S. stocks rebounded U.S. yields started to move hourly from 10-month lows, the pair then climbed strongly to 109.89 after tripping stops above 109.00 and 109.45, suggesting recent decline has indeed formed a temp. low there n choppy sideways trading above there would be seen ahead of Friday’s key U.S. jobs report.
Bids are noted at 109.55-45 and more below with stops below 109.00.
Offers are tipped at 109.85/95 with stops above 110.00. Therefore, buying dlr on dips is favoured but profit should be taken on next upmove as geopolitical risk on the Korean Peninsular has not gone away.
Pay attention to slews of U.S. data later today starting with ADP private payrolls, Q2 GDP n core PCE. Fed’s Powell (Board of Governors - voter) will speak at 13:15GMT.