AceTraderFx May 08: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 08 May 2020 04:30GMT
EUR/USD - 1.0852… Despite continuing this week’s losing streak yesterday and hitting a 12-day trough of 1.0767 in New York morning, euro erased intra-day losses and rebounded to 1.0834 in New York afternoon due to broad-based profit taking in recent usd positions.
Intra-day break of 1.0834 confirms decline from last Fri’s 4-week high at 1.1018 has made a low and consolidation with near term upside bias remains.
Bids have been raised to 1.0815/00 and more below with stops reported below 1.0760.
Offers are tipped at 1.0855/65 with stops above there n more stops are touted above 1.0900.
On the data front, Germany will release imports n exports plus trade balance. We also have Eurogroup meeting with ECB President Lagarde and Panetta particiating via video conferencing.
AceTraderFx May 12: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 12 May 2020 04:30GMT
EUR/USD - 1.0795… The single currency remains on the back foot in fairly hectic Asian trading after meeting renewed selling at 1.0810 in Australia, price easily penetrated Monday’s 1.0801 low (New York) and weakened to 1.0785 after tripping some stops below 1.0800.
As euro’s erratic fall from 1.0875 (Friday) to 1.0785 today signals early recovery from last week’s low at 1.0767 (Thursday) has ended, intra-day renewed usd’s strength except the yen suggests downside bias remains for re-test of said sup, then towards next chart obj. at 1.0728 later today or tomorrow.
Offers have been lowered to 1.0800/10 and more above with stops above 1.0820, more stops are reported above 1.0850. Some bids are noted at 1.0785/75 with stops touted below 1.0765.
Today, no economic data is due from the euro area countries.
AceTraderFx May 13: Intra-Day News and Views & data to be released today -USD/JPY
Intra-Day Market Moving News and Views
Update Time: 13 May 2020 04:30GMT
USD/JPY - 107.22… Dlr remains on the back foot in relatively subdued Asian trading on Wed after falling steadily from European morning high of 107.63 yesterday to 107.13 near New York close due to risk-off trades, leading to active unwinding of recent short yen positions.
Although intra-day marginal weakness to 107.10 shortly after Asian open signals recent upmove from last Wednesday’s 7-week bottom at 105.99 has made a temp. top at 107.76 on Monday, as long as 107.00/07 area holds, upside bias remains for another rise later today but loss of upward momentum should cap price below daily res at 108.08.
For now, bids are noted at 107.10/00 with stops below 106.90 while offers are tipped at 107.35/40 with stops above 107.65.
U.S. will release PPI data at 12:30GMT but market’s main attention is speech by Fed Chief J. Powell at 13:00GMTwhere he is scheduled at a financial forum via webcast. Investors are keen to hear what J. Powell has to say in response to Trump’s call for the Fed to cut Fed interest rates into ‘negative’ territory after Tuesday’s U.S. CPI tumbled 0.8% in April, this was the steepest drop since the Great Deperession in the 1920’s
AceTraderFx May 14: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 14 May 2020 04:30GMT
EUR/USD - 1.0813… Despite gaining temporary respite in subdued Australian morning after selloff from yesterday’s 1-week high of 1.0896 to 1.0812 in hectic New York session following Fed J. Powell’s comments after his prepared text was released, the single currency came under renewed selling shortly after Asian open on Thur n fell marginally lower to 1.0810.
As Wednesday’s decline from 1.0896 signals euro’s 3-legged corrective rise from May’s bottom at 1.0767 has ended there, downside bias remains for weakness to this week’s low at 1.0785 (Tuesday), then re-test of 1.0767 later.
Offers have been lowered to 1.0820/25 n more above with stops touted above 1.0855/60.
Some bids (profit taking) are noted at 1.0805/00 with stops below there, more stops are reported below 1.0780.
The euro area countries will release a slew of eco. data during Euroepan morning (please refer to our EI page for details), market’s focus is on U.S. weekly jobless claims and continuing claims.
We also have ECB Chief Economist Lane n ECB Vice President de Guindos speaking later today at 14:00GMT n 15:00GMT respectively.
AceTraderFx May 15: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 15 May 2020 04:30GMT
EUR/USD - 1.0801… Euro moves narrowly in subdued Asian morning after yesterday’s resumption of decline from this week’s high of 1.0896 (Wednesday) to 1.0776 before staging a brief bounce to 1.0816 in New York on short covering. Traders cited euro’s weakness in European morning on surprise Trump’s usd comments “It’s a great time to have a strong dollar because the whole world – you know, we’re paying zero interest, right.”
Although range trading is in store until European morning, as long as Thursday’s 1.0824 highs, downside bias remains for re-test of last week’s low at 1.0767 (Thursday) where a break there would pave the way for weakness towards April’s bottom at 1.0728 early next week.
Offers are tipped at 1.0815/25 with stops above 1.0835 while bids are noted at 1.0785-75 with stop below 1.0760.
Pay attention to data dump from the euro countries, please refer to our Economic Indicators page for details. EZ FinMins will hold video-conference today and ECB President Lagarde and ECB Chief Economist Lane will participate in virtual Euro group meeting.
AceTraderFx May 19: Intra-Day News and Views & data to be released today-USD/JPY
Intra-Day Market Moving News and Views
Update Time: 19 May 2020 04:30GMT
USD/JPY - 107.41… Dlr moved narrowly in subdued Asian morning despite yesterday’s wild swings in other G7 currencies in New York session as intra-day jump in the euro after joint announcement by Germany and France to launch a EU recovery fund triggered broad-based usd selling, knocking the pair from 107.50 to 107.21.
As Mon’s retreat from 107.50 suggests further volatile trading below May’s 107.76 peak would continue, consolidation with near tern downside bias is seen but anticipated yen’s weakness vs other currencies should keep price above 106.75 (reaction low).
Offers are tipped at 107.45/50 with some stops above there, more selling interest are noted above there with stops reported above 107.80.
Some bids are noted at 107.25/20 and more below with stops below 107.00, however, more stops are touted below 106.70.
Although only second-tier eco. data are due out from the U.S. later today, pay attention to Congressional testimonies by Fed’s J. Powell n Treasury Secretary Mnuchin at 14:00GMT, market is expected to react to comments by these two heavyweights.
AceTraderFx May 21: Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time: 21 May 2020 04:30GMT
EUR/USD - 1.0963… Despite resumption of recent upmove to a near 3-week high of 1.0999 in New York morning due to broad-based usd’s weakness on risk-on trades (the Dow gained 1.5%), euro retreated to 1.0958 as the greenback caught a bid in Asian morning following U.S. Trump’s tweet with his China bashing comments.
Intra-day retreat suggests recent upmove has possibly made a temporary top n range trading with downside bias is envisaged until European open.
Offers are tipped at 1.0985/95 with stops above 1.0800, more stops are reported above May’s 1.1018 high.
Bids are noted at 1.0960-55 with stops touted below 1.0850 and more below 1.0920.
Today is PMI day in the euro area, however, many European centres are closed for Ascension Day holiday, most notably Germany & France. Please refer to our Economic Indicators page for details. ECB board member Panetta will speak at online conference in Frankfurt at 07:35GMT.
AceTraderFx May 26: Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time: 26 May 2020 04:30GMT
EUR/USD - 1.0913… Euro climbs in tandem with cable in active Asian trading as the greenback receives intra-day bashing (except vs the yen) on renewed but could well be short-lived risk appetite.
Yesterday’s short-covering rebound from 1.0871 to 1.0914 after German business sentiment beat forecast suggests early decline from last Thursday’s near 3-week peak at 1.1008 has made a temp. low n range trading with near term upside bias is seen ahead of European open.
Some bids are noted at 1.0895/90 with stops below 1.0870 while offers are tipped at 1.0910/20 with some stops above there, more stops are touted above 1.0940.
On the data front, we have Germany’s GfK consumer sentiment and then France’s business climate. ECB’s chief economist Lane will participate in a virtual IIF European Conference at 12:45GMT.
AceTraderFx Jun 01 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time: 01 Jun 2020 04:30GMT
USD/JPY - 107.70… Dollar moved relatively narrowly in Asia despite intra-day broad-based weakness in usd vs other G7 peers, however, renewed yen selling on return of risk sentiment after U.S. Trump left U.S./ China trade deal untouched at Friday’s press conference on China as well as upbeat China official n private PMIs (see previous updates for details) suggest range trading with upside bias remains.
As rebound from Friday 107.09 low (Europe) to 107.89 in New York suggests pullback from May’s peak at 108.08 has possibly ended, bullishness remains for re-test of this res.
Bids are noted at 107.65-55 with stops below 107.30, more stops are reported below 107.00.
Offers are tipped at 107.90/00 with stops touted above 108.10.
Today is PMI day in the U.S., we have Markit mfg PMI, construction spending n then ISM mfg PMI.
AceTraderFx Jun 04 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time: 04 Jun 2020 04:30GMT
USD/JPY - 108.91… Despite meeting renewed buying at 108.88 in Australian morning and then intra-day brief break above New York high of 108.98 to a near 2-month peak at 109.04 after tripping stops above 109.00, price swiftly erased initial gain on broad-based yen buying and fell to 108.81 in Tokyo morning.
Although dlr’s retreat from 109.04 suggests recent upmove has made a temporary top and range trading is in store, as long as yesterday’s low at 108.43 (Asia) holds, outlook remains bullish for further headway towards chart obj. at 109.37 (Apr’s peak) before prospect of a long-overdue correction.
Offers are tipped at 109.00/10 with stops above there, more selling are touted at 109.30/35 with stops reported above 109.40. Bids are noted at 108.80-70 n more below with stops reported below 108.40.
Ahead of Fri’s U.S. key jobs report, market waits release of weekly jobless claims as well as continued jobless claims to get the latest pule of the employment situation. Street forecast is look for 1.8 million filing for unemployment vs prev. week’s reading of 2.12 million
AceTraderFx Jun 08 : Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time: 08 Jun 2020 04:30GMT
EUR/USD - 1.1290… Euro came under selling pressure after initial cable-led rebound to 1.1319 just ahead of Asian open following decline from Friday’s fresh 2-1/2 month peak at 1.1383 (Europe) to as low as 1.12979 near New York close as robust U.S. NFP triggered broad-based profit taking in recent long euro positions vs usd, yen, gbp & chf etc.
As Friday’s decline signals recent upmove has made a temp. top, intra-day weakness suggests recovery is over and re-test of 1.1279 would be seen, then 1.1250/60 but reckon 1.1201 (last week’s low on Monday) should contain weakness.
Order book is pretty thin with offers tipped at 1.1315/20 with stops above 1.1345 while bids are noted abpve 1.1285/80 with stops below 1.1270.
Data to be later :
Germany industrial output, EU Sentix index.
Canada housing.
AceTraderFx Jun 10 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 10 Jun 2020 04:30GMT
USD/JPY - 107.75… The greenback gains respite in subdued Asian morning after yesterday’s resumption of decline from last Friday’s 2-month peak of 109.84 to a near 1-week trough of 107.63 near New York midday.
Traders cited active yen buying in Tokyo morning Tue by Japanese names in anticipation of flattening of U.S. yield curve after FOMC meeting later today with 30-year U.S. bond yield to head lower from last Friday’s 10-week high of 1.762% (circa 1.579%). However, intra-day narrow move suggests bulk of usd selling is over, so further decline would be mild and one can expect a short-covering rebound to occur in New York morning.
Offers are tipped at 107.90/00 with stops above 108.25 while bids are noted at 107.70-60 with stops below 107.50.
U.S. will release a slew of inflation data (see EI page for details) ahead of FOMC announcement at 18:00GMT n then market focus is on post-FOMC presser by Fed chief J. Powell.
AceTraderFx Jun 11 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 11 Jun 2020 04:30GMT
USD/JPY - 107.00… Dlr remains on the back foot in relatively subdued Asian morning. Price resumed this week’s losing streak n fell to 106.99 in post-FOMC New York after Fed’s pessimistic economic outlook, the pair hit fresh 3-1/2 week low of 106.91 ahead of Tokyo open before edging higher to 107.09.
As decline from last Fri’s 2-month peak at 109.84 signals early rise from 105.99 (May low) has ended, downside bias remains for weakness to next chart obj. at 106.75, however, reckon 106.46/50 would contain downside today.
Offers are tipped at 107.25, then at 107.40/45 with stops above 107.65 while some bids are noted at 106.90-80 with stops below 106.70. BOJ Gov. Kuroda will testify in parliament at 05:00GMT.
On the data front, market’s focus is U.S. weekly jobless claims n continued jobless claims as well as PPI data.
AceTraderFx Jun 12 : Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time : 12 Jun 2020 04:30GMT
EUR/USD - 1.1282… The single currency remains on the back foot in early Fri trading after yesterday’s intra-day ‘wild’ swings ended with price tumbling from 1.1403 to as low as 1.1289 in New York session as usd caught a bid due to its safe-haven status following broad-based selloff on Wall Street. Price extended o/n weakness to 1.1277 in Asian morning before stabilising.
As the decline from Wed’s 3-month peak at 1.1422 signals Medium Term rise from 2020 near 3-year bottom at 1.0637 (March) has made a temporary top, downside bias remains for a long-overdue retracement towards next chart obj. at 1.1196 early next week, so selling euro on recovery due to near term o/sold condition is the way to go.
Offers are tipped at 1.1300/05, then 1.1325/30 while some bids are noted at 1.1275/70 and more at 1.1250/45 with stops building up below 1.1240.
The euro area countries will release a slew of eco. data, please refer to our EI page for details. We have ECB member Enria speaking at 08:00GMT, then at 12:00GMT in Frankfurt.
AceTraderFx Jun 15 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 15 Jun 2020 04:30GMT
USD/JPY - 107.24… Although the pair opened flat in New Zealand, price briefly penetrated Friday’s 107.55 high to 107.57 but only to fall back to 107.16 in early Tokyo trading due to a bout of safe-haven yen buying as U.S. Dow n S&P 500 futures were both trading lower by over 1% from Fri’s close.
As intra-day retreat from 108.57 suggests correction from last Thursday’s 4-week trough at 106.58 has possibly ended, consolidation with downside bias is in store. Offers are tipped at 107.45/55 with stops above 107.65 while some bids are noted at 107.15/05 with stops below 105.90.
The BOJ begins its 2-day monetary policy meeting today and On the data front, U.S. will release New York Fed mfg index at 12:30GMT.
Later, we have Dallas Fed Kaplan and S.F. Fed’s Daly speaking at 15:00GMT and 15:30GMT respectively.
AceTraderFx Jun 16 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 16 Jun 2020 04:30GMT
USD/JPY - 107.36… Despite yesterday’s initial marginal gain to 108.57 (AUS), dlr fell relatively sharply to 107.01 ahead of European open due to safe-have yen buying, price managed to erased intra-day losses n ratcheted higher to 107.48 in New York morning before retreating on New York afternoon due to usd’s weakness following Fed announced it will purchase U.S. corporate bonds starting Tue.
Intra-day sideways swings are likely to continue with mild upside bias ahead of BOJ’s policy announcement as rebound in U.S. stocks n intra-day gains in Dow n S&P 500 futures have boosted risk appetite.
Bids are noted at 107.20-00 area with stops below there while offers are tipped at 108.50/55 with stops touted above 107.60.
U.S. will relesae a slew of eco. data (see our EI page for details) n pay particular attention to May retail sales. Market will also focus on Fed chief J. Powell’s testimony before the Senate Banking Committee on Capital Hill at 14:00GMT.
AceTraderFx Jun 18 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 18 Jun 2020 04:30GMT
USD/JPY - 106.78… Dlr gains no respite in Asia after Wednesday’s fall from 107.44 (Europe) to 106.96 in New York afternoon due to safe-haven yen buying. Price came under renewed selling pressure at 107.05 in Australia n fell to 106.71 in Asian morning on a bout of fresh yen buying as renewed weakness in US stock futures (Dow futures currently down 1.3%) triggered further risk-off trade.
Intra-day weakness suggests early correction from last Thursday’s 4-week bottom at 106.58 has ended at 107.63 (Tuesday) and decline from June’s 2-month peak at 109.84 would head towards next daily chart obj. at 105.99 after consolidation. Therefore, trading dlr from short side in anticipation of resumption of decline is the way to go.
Offers have been lowered to 106.85/95 with stops touted above 107.05 while bids are noted at 106.70-60 with stops reported below 106.50.
On the economic front, pay attention to U.S. weekly jobless claims n continued jobless claims plus other data too (see EI page for details). Market is expecting further reduction in the number of unemployed people as many cities have lifted recent lockdown restrictions. Also, Cleveland Fed’s Mester will speak for a second day later in NY at 16:15GMT.
AceTraderFx Jun 19 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 19 Jun 2020 04:30GMT
USD/JPY - 106.92… Dlr trades relatively narrowly in subdued Asian morning after a roller-coaster Thursday’s session. Despite initial fall from 107.05 to 106.71 on safe-haven yen buying in Asia, price rebounded on short covering to 107.12 in Europe but only to tumble to session lows of 106.68 near New York midday on renewed yen’s strength, however, price climbed back to 107.09 near New York close.
Although yesterday’s rebound from 106.68 suggests price is not ready to re-test last Thursday’s 4-week trough at 106.58 n further choppy swings may continue before decline from Jun’s 109.84 peak heads towards next daily chart obj. at 105.99 (May bottom), anticipated yen strength vs yen, eur, gbp n aud etc suggests trading the pair from short side is still preferred. Offers are tipped at 109.05/15 with stops above 109.20 while bids are noted at 106.70-60 with stops reported below 106.50.
TGIF, although the only U.S. eco. data due out is current account, we have a number of FOMC officials scheduled to speak in New York session (see EI page for details), pay attention to video conference of Fed chief Powell who is joined by Cleveland Fed President Mester to participate in live conference at 17:00GMT.
AceTraderFx Jun 22 : Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time : 22 Jun 2020 04:30GMT
EUR/USD - 1.1191… Euro gains respite in Asian trading after hitting a 2-1/2 week trough of 1.1169 in New York morning on Fri. Trading the single ccy proved to be tricky in Fri’s session as despite intra-day retreat from 1.1221 to 1.1195 in Europe, price briefly jumped to session highs of 1.1254 on broad-based usd’s weakness but renewed usd buying soon emerged as U.S. stocks headed south together with falling U.S. yields n the pair quickly tumbled to 1.1169 before swinging sideways for rest of New York afternoon.
As Friday’s weakness to 1.1169 suggests recent decline from June’s 3-month peak at 1.1422 remains in force n would head to 1.1147, selling on intra-day recovery is the way to go but loss of downward momentum should keep price above 1.1100/10 today. Offers are tipped at 1.1195/05 with stops above 1.1225 and bids are noted at 1.1175/70 with stops below 1.1140.
The only data due out from the euro-area countries is EU’s May consumer confidence at 14:00GMT. The German Bundesbank will publish its monthly report. There is a European Council n European Commission will hold a summit meeting today where Chinese Preisident Xi n Premier Li will join via video conferencing, ECB Vice President de Guindos will speak at a financial conference in Frankfurt at 14:15GMT, later ECB’s Chief Economist Lane at a seminar at 16:30GMT.
AceTraderFx Jun 24 : Intra-Day News and Views & data to be released today- USD/JPY
Intra-Day Market Moving News and Views
Update Time : 24 Jun 2020 04:30GMT
USD/JPY - 106.50… Dlr pares yesterday’s loss in choppy Asian trading n falling on Tuesday from 107.21 (Europe) to a 6-week trough of 106.08 in New York, traders cited the sharp one-way drop possibly linked to Japan’s Softbank currency hedging of its sales of $ 21 bln in value of its holdings in U.S. T-mobile.
As Tuesday’s break of previous June’s 106.58 low to 106.08 signals decline from June’s 109.84 peak has resumed, price is en route to 105.99 (May low), then 105.15 next week. Therefore, trading the pair from short side is the way to go.
Offers are tipped at 106.60/70 with some stops touted above 106.75 while bids are noted at 106.30-20 with stops below 105.95.
U.S. will release some second-tier eco. data in New York morning, however, we have Chicago Fed President Evans n St. Louis Fed President scheduled to speak later today at 16:30GMT and 19:00GMT respectively.