AceTraderFx Mar 31: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 31 Mar 2020 04:30GMT
EUR/USD - 1.1029… The single currency pares intra-day loss on minor short covering ahead of Tokyo lunch break after extending decline from yesterday’s high of 1.1143 (AUS) to 1.1085 in Asian morning, intra-day spike down to said Asian low was attributed to a sudden bout of usd demand.
There has been market chatter in last few sessions of volatile trading in NY morning later today due to purchase of usd by fund managers to re-balance porfolio for quarter end valuation at currency fixing at 15:00GMT and this may keep euro on the back foot. Therefore, the fall from Friday’s 1.1147 high to 1.0985 today confirms near term upmove from last Mon’s near 3-year bottom has made a temp. top and choppy consolidation with downside bias is in store. Offers are noted at 1.1045/55 n more at 1.1070 while some bids are touted at 1.0985/75 with stops below 1.0950.
We have data dump from euro area countries during European morning session, pleases refer to to Economic Indicators page for details and pay attention to German unemployment data at 07:55GMT.
AceTraderFx Apr 02: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 02 Apr 2020 04:30GMT
USD/JPY - 107.51… Dlr pares recent losses in early Asian trading after hitting a 2-week trough of 106.93 in New York afternoon on Wed as renewed weakness in the Dow n falling Treasury yields (benchmark 10-year fell from March’s 1.279% to a 3-week low of 0.571%) led to safe-haven yen buying, however, the pair caught a bid at Tokyo open and climbed to 107.56.
Intra-day rebound on broad-based firmness in the greenback suggests recent decline from March’s 111.71 peak suggests temp. low has possibly been made n above 107.65 (New York high) would bring stronger retracement towards 107.94 (Wednesday’s top). Bids are noted at 107.30-20 n more at 107.10/00 with stops below 106.90 while offers are tipped at 107.55/65 with stops above there, more offers are touted at 107.90/95 with stop above 108.00.
U.S. will release a slew of eco. data (see EI page for details), however, traders are eagerly paying attention to release of the much-awaited initial weekly jobless claims at 12:30GMT, last week’s reading came to a 3.28 million, street forecasts range from 1.5-5.25 million, if actual comes in higher than prev. week, may see a brief dips due to safe-haven buying but market will turn to usd buying and will then lift usd/yen.
AceTraderFx Apr 06: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 06 Apr 2020 04:30GMT
EUR/USD - 1.0813… The single currency gains respite in subdued Asian trading after having fallen for 5 consecutive days last week from 1.1143 (Monday) to as low as 1.0771 on Fri due to renewed usd’s broad-based strength.
As euro’s decline after staging an impressive rally from March’s near 35-year bottom at 1.0637 to 1.1147 earlier suggests said correction, although strong, has ended n selling the pair on intra-day recovery for further weakness towards 1.0747 after consolidation is favoured.
Offers are tipped at 1.0825/35 and more above with stops above 1.0860 whilst bids are noted at 1.0800/1.0790 with stops below 1.0770.
Following release of very downbeat PMIs from the euro area countries on Friday, the only eco. data due out today is Germany’s industrial orders at 06:00GMT, one can expect the figure to be dismal n hence another round of euro selling.
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AceTraderFx Apr 08: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 08 Apr 2020 04:30GMT
USD/JPY - 108.75… The greenback remained on the back foot in early Australian trading due to usd’s broad-based weakness in New York session yesterday together with falling U.S. yields. Price fell ahead of Tokyo open on a bout of safe-haven yen buying n tumbled to 108.51 after tripping stops below Tuesday’s 108.68 low, however, price quickly pared intra-day losses on intra-day broad-based usd’s rebound at Asian open n climbed back to 108.87.
Although the decline from 109.37 (Monday) suggests near term upmove from last Wednesday’s 2-week trough has made a temp. top, intra-day rebound would bring consolidation with mild upside bias, above 109.14 (European high yesterday) would encourage for re-test of 109.37 later today.
Bids are noted at 108.70/65 with stops below 108.50 while offers are tipped at 109.00/10 with stops above 109.15 and more more stops have been reported above 109.40.
ON the data front, although the only data due out from the U.S. is MBA mortgage applications, pay attention to release of FOMC minutes which may shed some more light on last month’s emergency meeting and rate cut in the aftermath of COVID-19 pandemic which hit U.S. economy n sent millions out of work abruptly.
AceTraderFx Apr 09: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 09 Apr 2020 04:30GMT
EUR/USD - 1.0855
Euro swung wildly in hectic Wednesday’s session n price also chopped in directionless but volatile Asian trading on Thursday.
Although the single currency shrugged off intra-day selling after price tumbled from 1.0887 to 1.0831 in early European morning on news EU FinMins had failed to agree on a coronavirus rescue package for the EZ countries in the wake of COVID-19 pandemic which threatened to put EZ economy into a deep and protracted recession, failure to move higher and subsequent retreat in New York session suggests price would trade below 1.0926 (Tuesday high) as traders await another day of meeting which is likely to produce positive result later in the day, if so, then euro will rally to 1.0950/60.
Bids are noted at 1.0850-40 with stops touted below 1.0830 while offers are tipped at 1.0885/95 with some stops above 1.0900, more stops are reported above 1.0930.
Euro countries will release a slew of eco. data (please refer to our EI section for details) as well as minutes of last ECB’s monetary policy meeting at 11:30GMT.
AceTraderFx Apr 14: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 14 Apr2020 04:30GMT
USD/JPY - 107.66… Dlr is runring loss in relatively subdued Asian morning after yesterday’s intra-day selloff from 108.52 to an 11-day trough of 107.51 in holiday-thin New York afternoon due partly to active cross-buying of yen esp vs euro.
Despite staging a recovery to 107.79 in New Zealand morning, price came under renewed selling n fell back to 107.54 shortly after Asian open. As yesterday’s fall signals corrective rise from April’s 106.93 low has ended last week at 109.37 (Mon), selling the greenback on recovery is the way to go.
Offers are noted at 107.80/90 n more above with stops above 108.25.
Some bids are touted at 107.55-50 with stop below there.
On the data front, U.S. will later release some 2nd-tier data starting with import n export prices, then Redbook sales. We have several Fed presidents scheduled to speak during New York time, pls refer to our EI section for details.
AceTraderFx Apr 15: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 15 Apr 2020 04:30GMT
EUR/USD - 1.0981… The single currency maintains biddish tone in subdued Asian morning after climbing yesterday to a near 2-week high of 1.0987 in New York, then 1.0991 in Australia.
As Tuesday’s gain above 1.0967 (Monday high) confirms recent erratic rise from April’s 1.0637 bottom remains in force, upside bias remains for further headway to 1.1003 (61.8% r of fall from 1.1147-1.0637), however, reckon 1.1039 res would cap upside and yield a long-overdue retracement of said upmove.
For now, buying euro on dips is favoured with bids noted at 1.0965-55 with stops below 1.0945 while offers are tipped at 1.0990/00 with stops touted above 1.1010.
The euro area countries will release inflation data today starting with France’s CPI, then the same from Italy. EU FinMins will meet again via video conference to discuss further support for the EZ countries in the wake of COVID-ap pandemic n ECB’s President Lagarde and ECB’s Panetta will also participate in the meeting for a second day.
AceTraderFx Apr 16: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 16 Apr 2020 04:30GMT
EUR/USD - 1.0884… Euro remains on the back foot in Asian trading after yesterday’s wild swings in European n New York sessions.
Despite falling from a 2-week peak of 1.0991 (AUS) to as low as 1.0857 as usd caught a bid on renewed risk-aversion, release of downbeat U.S. retail sales prompted broad-based long liquidation in the greenback and lifted euro back up to 1.0939 before drifting lower in late New York trade as buying dried up. Intra-day weakness to 1.0876 in Asia has retained bearishness for decline from 1.0991 to retrace recent rise from April’s 1.0769 bottom to head back towards 1.0831 target.
Offers are tipped at 1.0900/10 n more above with stops above 1.0940.
Bids are touted at 1.0870/60 with stops below 1.0850.
The euro area countries will release a slew of eco. data (see our EI section for details) but traders’ focus is on U.S. initial weekly jobless claims where another blow out number will trigger another round of usd buying on risk aversion.
AceTraderFx Apr 17: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 17 Apr 2020 04:30GMT
USD/JPY - 107.74… Dlr pares o/n gain in New York and fell from intra-day high of 108.08 (AUS) to 107.66 due partly to cross-buying of yen after yesterday’s roller-coaster ride.
Trading on Thur proved to be ‘tricky’ to say he least as despite rising from 107.36 (AUS) to 108.08 in Asia, price fell steadily to session lows of 107.17 on safe-haven yen buying after dismal U.S. initially weekly jobless claims jumped to a record 22 million, however, broad-based usd buying on risk-off trade sent price higher to 107.94 near New York close, then 108.08 today before easing.
Looks like choppy trading inside 107.94-108.08 range would continue n a daily above the upper level needed to turn outlook bullish for stronger gain to 118.59/61 early next week.
Offers are tipped at 108.00/10 with stops above 108.15 while bids are noted at 107.60-50 with stops below there.
T.G.I.F., the only data due out from the U.S. is leading index for March and we have St. Louis Fed President scheduled to speak at 13:00GMT.
AceTraderFx Apr 20: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 20 Apr 2020 04:30GMT
USD/JPY - 107.80… Despite Friday’s intra-day fall from 108.08 (AUS) to 107.31 in New York morning, price moved narrowly in New York afternoon n the pair caught a bid it Tokyo open on broad-based yen selling and climbed back to 107.89.
As price is likely to remain confined inside recent established range of 107.94-108.08, sell dlr on further intra-day rise in anticipation of another fall towards 107.17 is favoured.
Offers are tipped at 107.85/95 with stops above 108.10 whole bids are noted at 107.45-35 with stops below 107.10 n more stops are reported below 106.90.
U.S. eco. calendar is very light today with Chicago national activity index for March being the only data due out later today at 12:30GMT.
AceTraderFx Apr 21: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 21 Apr 2020 04:30GMT
EUR/USD - 1.0832… Euro falls in hectic trading as the greenback catches a bids in Asian morning. O/n selloff in oil prices together with weakness in U.S. stocks n intra-day decline in U.S. stock futures are prompted broad-based usd buying on risk aversion.
Euro fell from 1.0871 (AUS) to 1.0827 ahead of Tokyo lunch break after tripping stops below Monday’s 1.0842 low. Intra-day weakness suggests re-test of last Friday’s 9-day trough of 1.0813 would be seen next n stops below 1.0800 are in focus.
Offers have been lowered to 1.0850/60 with some stops above 1.0875, more stops are reported above 1.0900.
Bids are noted at 1.0820/15 with stops below there. Therefore, trading the single currency from short side is the way to go.
The euro area countries will release a slew of eco. data staring with Germany’s ZEW eco. sentiment n current conditions, then EU’s ZRW eco. sentiment, readings of these data are expected to come out worse then street forecast n would attract euro selling.
AceTraderFx Apr 22: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 22 Apr 2020 04:30GMT
EUR/USD - 1.0854… The single currency is currently trading roughly where it was this time yesterday after a roller-coaster Tuesday’s session. Despite falling steadily from 1.0871 (AUS) in Asia on a bout of safe-haven usd buying and hit intra-day low of 1.0817 in New York morning, price erased intra-day losses and briefly jumped to 1.0880 due to broad-based long liquidation in usd positions, however, price quickly retreat to 1.0842 as buy dried up and moved narrowly in New York afternoon.
Although yesterday’s rebound from 1.0817 suggests further choppy swings above last Friday’s 9-day trough at 1.0813 would continue, as long as reaction high at 1.0896 (Monday) holds, recent decline from April’s 1.0991 peak would resume after consolidation and head towards projected target at 1.0786/90.
Offers are tipped at 1.0880/90 with stops above 1.0900/05.
Bids are noted at 1.0830/20 with stops reported below 1.0810.
On the data front, Italy will release industrial orders and industrial sales at 08:00GMT n later at 14:00GMT, we have EU’s consumer confidence index.
AceTraderFx Apr 23: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 23 Apr 2020 04:30GMT
EUR/USD - 1.0810… The single currency remains on the back foot in relatively subdued Asian trading on Thursday after tumbling yesterday from 1.0885 (Europe) to a 2-week trough of 1.0804 as the greenback caught a bid in New York session due to renewed safe-haven buying.
As yesterday’s break of last week’s low at 1.0813 (Friday) signals recent decline from 1.0991 (April high) has finally resumed, downside bias remains for weakness towards projected target at 1.0786 (see our technical page for details), however, reckon previous April’s bottom at 1.0769 would remain intact today.
Offers are tipped at 1.0820/25 with some stops touted above 1.0845 while bids are noted at 1.0805/00 with stops below there.
Today is PMI day in the euro area countries n one can expect pretty downbeat readings in the wake of the COVID-19 pandemic. Pls refer to our economic indicator page for details of reco. releases.
The European Council will meeting in Brussels today to
discuss post-coronavirus economic plan but according to earlier mdeia reports, EU diplomats and officials are expected to defer a final decision on how to finance the bloc’s economic recovery, so this may add further pressure on the euro.
AceTraderFx Apr 24: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 24 Apr 2020 04:30GMT
USD/JPY - 107.63… The greenback continues to move in familiar territory in Asian morning after a roller-coaster rise in hectic Thursday’s session. Despite intra-day fall from 107.86 (Asia) to 107.35 in New York, price spiked to 108.03 on Nikkei news BoJ was mulling to scrap its cap on JGB purchases at its next week’s policy meeting b4 tumbling to 107.41.
Intra-day recovery to 107.75 suggests choppy sideways swings are set to continue, however, anticipated safe-haven yen buying signals downside bias but as price remains confined inside recent 106.94-108.08, steep fall is unlikely to be seen due to usd’s firmness vs G4 counterparts.
Offers are tipped at 107.80/90 n more above with stops reported above 108.10.
Bids noted at 107.45-35 with stops below 107.10 n fairly large stops are touted below 106.90.
T.G.I.F., U.S. will release durable goods n University of Michigan consumer confidence at 12:30GMT n 14:00GMT respectively later tody.
AceTraderFx Apr 28: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 28 Apr 2020 04:30GMT
USD/JPY - 107.27… Dlr moves narrowly but with a firm bias due to intra-day usd’s broad-based rebound in Asia after hitting an 11-day low of 117.00 in New York morning.
As decline from last week’s high at 108.03 to 107.00 yesterday suggests early correction from April’s 106.93 bottom has ended, below said sup would extend recent decline to 104.76, then towards 104.45. Therefore, trading dlr from short side in anticipation of resumption of recent fall is cautiously favoured.
Offers are tipped at 107.30/35 with stops above 107.50 and more stops are reported above 107.80.
Bids are noted at 107.10/00 with market chatter of fairly stops below 106.90.
U.S. will release a slew of eco. data, please refer to our economic indicator section for details. The Fed will begin its 2-day monetary policy meeting starting today.
AceTraderFx Apr 29: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 29 Apr 2020 04:30GMT
USD/JPY - 106.58… Despite staging a rebound from Tuesday’s 5-week low of 106.57 (Europe) to 106.96 in New York morning as the greenback caught a bid in U.S. trading, the pair came under renewed selling in Australia at 106.89 n fell in holiday-thin Asian morning (Japanese markets are closed for Showa Day holiday) n fell to 106.52 as the greenback came under renewed selling.
As yesterday’s penetration of prev. April 106.93 low finally ended 4 weeks of choppy consolidation, downside bias remains for recent decline from 111.71 to head to 116.45 target, however, reckon projected sup at 116.05 would contain weakness. Therefore, whilst trading dlr from short side is favoured, profit should be taken on subsequent fall especially ahead of FOMC
monetary policy decision later today.
U.S. will release a slew of eco. data, pay attention to Q1 GDP, core PCE prices n pending home sales. FOMC’s policy statement will come at 18:00GMT, then Fed chair will speak at post-FOMC presser at 18:30GMT, however, market is expecting no change in Fed’s rate policy.
AceTraderFx May 04: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 04 May 2020 04:30GMT
EUR/USD - 1.0950… Euro remains on the back foot in Asian trading after slipping from Friday’s 2-week high of 1.1018 in New York morning, however, profit taking later knocked price to 1.0973 near the close. Renewed selling emerged at 1.0980 in New Zealand pressure the pair steadily lower in tandem with cable to 1.0947 in early Asian trading after tripping light stops below 1.0970.
Although euro’s strong retreat from 1.1018 suggests recent upmove has made a temp. top, as long as 1.0935 (Friday’s low) holds, mild upside bias remains for marginal gain to 1.1040/50 after consolidation before prospect of correction.
Bids are noted at 1.0945-35 with stops tourted below 1.0920.
Offers are tipped at 1.0990/00 with stops above 1.1020.
Today is PMI day in the euro area countries, Italy will kick off with Markit mfg PMI. then follow by France, Germany n the EU including Sentix investor sentiment.
AceTraderFx May 05: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 05 May 2020 04:30GMT
USD/JPY - 106.59… Dlr remains on the back foot in holiday-thin Asian trading on Tue as Japanese markets are closed for Golden Week holiday until Thursday.
Price swung wildly in choppy Monday session. Although the pair climbed from 106.67 (Asia) to intra-day high of 107.06 in New York morning due to safe-haven usd buying on U.S./China tensions, price hit session lows of 106.64 in New York on renewed yen buying. Despite a recovery to 106.76 on Aust., short-term specs sold dlr and knocked price to 106.52 shortly after Asian open. Having said that, as dlr is expected to gyrate inside recent broad range of 106.37-107.49, steep fall is therefore not envisaged n indicated lower level would hold.
Bids are noted at 106.50-40 with stops reported below 106.30.
Offers are tipped at 106.80/90 and more above with stops above 107.10.
On the data front, the U.S. will later release trade balance, Redbook sales, Markit services PMI n then ISM non-mfg PMI.
We also have a number of Fed officials speaking during New York session (pls refer to EI page for details).
AceTraderFx May 06: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 06 May 2020 04:30GMT
USD/JPY - 106.30… Dlr languishes near Asian fresh 6-week trough of 106.22 after intra-day decline from 106.62 (AUS) penetrated last week’s low at 106.37 at holiday-thin Asian open, triggering stops below there.
As price remains on the back foot after intra-day resumption of recent fall from 111.71 (Mar) following an almost 1-week long daily swings, further weakness to projected target at 105.95/00 is envisaged after consolidation due to anticipated safe-haven yen buying due to continued concerns on global economic growth in the wake of Covid-19 pandemic.
Oder book is still fairy thin as Japan is on its 3rd n last day of its Golden Week holiday, offers are tipped at 106.40/50 with some stops above 106.65.
Some bids are noted at 106.25/20 with stops touted below 106.00.
On the U.S. data front, pay attention to release of ADP private payrolls ahead of Friday’s key jobs report as U.S. private sector is expected to take the brunt of recent meteoric rise in unemployment. Also, we have Richmond Fed and Atlantic Fed presents scheduled to speak later in NY session.
AceTraderFx May 07: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 07 May 2020 04:30GMT
USD/JPY - 106.18… Dlr pares yesterday’s losses and rises in Asian trading on bargaining hunting as Japanese market returns after 3 days of holiday this week.
Traders cited buying by Japanese names (importers) at Tokyo open and lifted price to 106.29 after tripping light stops above 106.20, suggesting range trading above Wednesday’s 7-week low at 105.99 (New York) would continue, at least until European open.
As yesterday’s break of previous Apr’s 106.37 trough confirms recent decline from 111.71 (mar peak) has resumed, mild downside bias remains for marginal weakness but reckon 105.64/65 would hold from here.
Offers are tipped at 107.30/40 with stops above 107.65 while bids are noted at 106.10/00 with stops below 105.90.
U.S. will later release a slew of eco. data but market’s focus is again on weekly jobless claims, street forecast is looking for another 3 million people filing for unemployment benefits ahead of Friday’s key U.S. jobs report with a forecast of a staggering 16-19% unemployment rate, so recent safe-haven yen buying may continue today