AceTraderFx Jun 29 : Intra-Day News and Views & data to be released today - GBP/USD
Intra-Day Market Moving News and Views
Update Time : 29 Jun 2020 04:30GMT
GBP/USD - 1.2366… Despite the British pound’s selloff from 1.2436 to a near 1-month trough at 1.2314 on Friday, price rebounded to 1.2354 in New York afternoon and then gained to 1.2373 in Asia after finding renewed buying at 1.2327 in New Zealand.
Cable’s intra-day strong rebound suggests decline from June’s near 3-month peak at 1.2812 has made a temporary low at 1.2314 (Friday) and choppy trading with mild upside bias would be seen. However, offers at 1.2380/90 and more above at 1.2400/10 would cap current rise and yield retreat later.
In the absence of any major economic data from UK today, one should pay attention to Bank of England policymaker Gertjan Vlieghe’s speech on macroeconomic tail risks at 12:30GMT in London.
AceTraderFx Jun 30 : Intra-Day News and Views & data to be released today - GBP/USD
Intra-Day Market Moving News and Views
Update Time : 30 Jun 2020 04:30GMT
GBP/USD - 1.2300… The British pound went through a volatile session yesterday as despite initial rise from 1.2327 in New Zealand to an intra-day high at 1.2389 at European open, price erased its gains and tumbled in European session to a 1-month trough at 1.2252 in New York morning on sterling’s broad-based weakness on concerns over UK’s spending plan together with fears of a hard Brexit as the fifth round of negotiations between EU and UK begin. Later, the pair staged a short-covering rebound to 1.2317 at Asian open today before retreating.
Cable’s intra-day retreat from 1.2317 suggests the recovery from yesterday’s 1-month trough at 1.2252 has ended and there and consolidation with downside bias remains for a re-test of said support, break would extend decline from June’s near 3-month peak at 1.2812 to 1.2220/25.
Offers are now seen at 1.2310/20 with stops building up above there whilst initial bids are noted at 1.2200/10.
Pay attention to the release of UK GDP at 06:00GMT. Street forecasts for QQ and YY are unchanged from previous readings of -2.0% and -1.6% respectively. Market focus is also on UK PM Boris Johnson, who is set to unveil UK’s new infrastructure plan later today.
AceTraderFx July 02 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 02 July 2020 04:30GMT
USD/JPY - 107.47… Although the greenback tumbled from yesterday’s Asian high at 108.16 to 107.37 in New York open, price rebounded briefly to 107.60 on the back of encouraging U.S. ADP employment data. However, renewed selling there knocked price back down to 107.34 in Tokyo morning today before stabilising.
Dollar’s selloff from 108.16 to 107.37 yesterday and intra-day break below this level suggests upmove from last Tuesday’s 6-week trough at 106.08 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 107.05, then to 106.87 (61.8% r) before prospect of rebound.
Offers are now seen at 107.50/60 and move above at 106.70/80 with stops building up above there whilst initial bids are noted at 106.70/80.
Market focus is now on U.S. jobs report, which is scheduled to release a day earlier this month as U.S. markets will be closed on Friday for Independence Day holiday. Street forecast for non-farm payrolls and average earnings are 3,000k and -0.7% vs previous readings of 2,509K and -1.0% respectively.
AceTraderFx July 06 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 06 July 2020 04:30GMT
USD/JPY - 107.74… The greenback found renewed buying at 107.47 in New Zealand today after Friday’s sideways move in holiday-thinned North American session as U.S. markets were closed for Independence Day holiday. The pair then ratcheted higher to 107.77 in Tokyo morning on cross-selling in jpy due partly to the rise in Nikkei-225 (currently up by 316 points or 1.42%).
Dollar’s intra-day break of previous resistance at 107.72 suggests pullback from last week’s high at 108.16 (Wednesday) has ended at 107.34 Thursday and consolidation with upside bias remains for gain to 107.98, then towards said resistance.
Bids are now seen at 107.50/60 and more below at 107.30/40 with stops building up below there whilst initial offers are noted at 108.30/40.
Market focus is now on the release of U.S. ISM non-manufacturing PMI at 14:00GMT. Street forecast is 49.5, up from previous reading of 45.4.
AceTraderFx July 07 : Intra-Day News and Views & data to be released today - GBP/USD
Intra-Day Market Moving News and Views
Update Time : 07 July 2020 04:30GMT
GBP/USD - 1.2499… The British pound swung wildly in hectic trading yesterday as price initially gained in tandem with euro from New Zealand low at 1.2462 to 1.2509 at European open. Despite a brief pullback to 1.2475 in Europe, the pair rose to session highs at 1.2520 in New York morning before retreating sharply to 1.2482 on usd’s broad-based rebound. Sterling then staged a recovery to 1.2517 in Asia today before retreating again to 1.2491.
Cable’s gain to 1.2520 yesterday suggests the pullback from last Thursday’s high at 1.2530 has ended at 1.2439 Friday and upside bias remains for a re-test of said resistance, break would extend upmove from last Monday’s 1-month trough at 1.2252 towards 1.2565/70 later.
Bids are now seen at 1.2480/90 with stops building up below there whilst initial offers are noted at 1.2680/90.
Since there is no major economic data out of the UK today, pay attention to remarks from Bank of England Chief Economist Andy Haldane, who is scheduled to speak at 17:00GMT.
AceTraderFx July 08 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 08 July 2020 05:30GMT
EUR/USD - 1.1280… The single currency went through a roller-coaster ride on Tuesday as despite tumbling from Asian high at 1.1332 to session lows at 1.1260 in Europe on usd’s strength, the pair rebounded to 1.1307 in New York morning before retreating again to 1.1269 near New York closing, then lower to 1.1265 in Asia today.
Euro’s rebound from yesterday’s low at 1.1260 suggests pullback from Monday’s high at 1.1345 has ended there n consolidation with upside bias remains and above previous resistance at 1.1348 would extend upmove from 1.1169 (June) towards 1.1380/85.
Bids are now seen at 1.1260/70 with stops building up below there whilst initial offers are noted at 1.1390/00.
Pay attention to comments from ECB Vice President Luis de Guindos, who is scheduled to discuss measures adopted by the central bank on EU economic recovery at 14:00GMT.
AceTraderFx July 10 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 10 July 2020 05:30GMT
EUR/USD - 1.1270… Euro gained no respite in hectic Asian trading following selloff from Thursday’s fresh 3-week high of 1.1371 (EBS) to 1.1281 as usd regained traction of broad-based buying due to risk-off trade, price met renewed selling ahead of Asian open at 1.1290 n fell to 1.1271 after tripping stops below 1.1280 n stops below 1.1260 are now in focus.
Despite resumption of erratic rise from last week’s low at 1.1186 Wed) to 1.1371 yesterday, euro’s selloff from there suggests further volatile swings below June’s 3-month peak at 1.1422 would continue with downside bias, so selling on recovery is favoured for subsequent weakness to 1.1220.
Offers are tipped at 1.1300/05 with stops above 1.1320 whilst bids are noted at 1.1265/60 n more at 1.1230/20.
The euro area countries will release a slew of eco. data, please refer to our EI page for details. There is EU FinMin meeting in Brussels n ECB Vice President de Guindos will participate via videoconference
AceTraderFx July 14 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 14 July 2020 05:30GMT
USD/JPY - 107.19… Although the greenback edged lower to 106.79 in Asia yesterday, price rallied to 107.31 in New York morning on cross-selling in jpy before retreating to 107.15 on profit-taking. The pair then gained to 107.36 in Tokyo morning today on usd’s broad-based strength before weakening again.
Usd’s rally Friday’s low at 106.65 to 107.36 today suggests decline from July’s peak at 108.16 has ended there and consolidation with upside bias would be seen for gain to 107.78.
Bids are now seen at 107.00/10 and more below at 106.90/00 with stops building up below there whilst initial offers are noted at 107.90/00.
Pay attention to U.S. inflation data at 12:30GMT. Street forecasts for CPI mm and yy are 0.5% and 0.6% vs previous readings of -0.1% and 0.1% respectively.
AceTraderFx July 16 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 16 July 2020 05:30GMT
USD/JPY - 106.94… The greenback swung wildly in hectic trading yesterday as despite edging up to 107.30 in Asia, price tumbled in European morning on cross-buying in jpy and fell to session lows at 106.67 in New York morning. However, failure to penetrate last week’s low at 106.65 (Friday) triggered short-covering and the pair rebounded to 106.97 in New York, then marginally higher to 107.03 in Asia today before stabilising.
Dollar’s rebound from 106.67 yesterday suggests choppy trading above said support at 106.65 would continue and marginal gain is likely, however, offers at 107.20/30 should limit upside and yield another retreat. Below 106.65/67 would extend decline from July’s peak at 108.16 to 106.20/30.
Pay attention to the release of U.S. jobless claims at 12:30GMT and retail sales at 13:00GMT. Street forecast of jobless claims is 1,250k vs previous reading of 1,314k. Elsewhere, Chicago Fed President Charles Evans will speak on the current economic conditions and monetary policy at Annual Rocky Mountain Economic Summit at 17:30GMT.
AceTraderFx July 17 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 17 July 2020 05:30GMT
EUR/USD - 1.1384… The single currency went through a roller-coaster ride yesterday as despite retreating to 1.1379 in European morning, price rallied to session highs at 1.1442 in post-ECB trading. However, failure to break Wednesday’s 4-month peak at 1.1451 triggered profit-taking and the pair dropped to session lows at 1.1371 in New York afternoon due partly to usd’s broad-based strength before trading sideways in Asia today.
Euro’s retreat from yesterday’s 1.1442 high signals choppy trading below aforesaid 1.1451 top would continue with downside bias and weakness to 1.1326 is seen.
Offers are now seen at 1.1390/00 and more above at 1.1410/20 with stops building up above there whilst initial offers are noted at 1.1310/20.
Although there is a slew of economic data to be released from the eurozone today, market focus is on a special EU summit beginning today, where the EU countries are expected to vote on the 750 billion euro recovery fund to revive the region’s growth.
Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Vviews
Update Time : 21 July 2020 05:30GMT
USD/JPY - 107.17… The greenback went through a roller-coaster ride on Monday as despite rising from 107.02 in New Zealand to session highs at 107.53 in Asian morning, price pared its gains and retreated sharply to 107.04 in New York morning due to fall in U.S. Treasury yields. The pair then rebounded to 107.33 in New York afternoon before weakening to 107.13 in Asia today.
Dollar’s retreat from yesterday’s 11-day high at 107.53 signals upmove from July’s trough at 106.65 has made a temporary top there and consolidation with downside bias remains for weakness to 106.84, then 106.65 again, break would extend decline from 108.16 (July) to 106.40/50.
Offers are now seen at 107.30/40 with stops building up above there whilst initial bids are noted at 106.30/40.
AceTraderFx July 22 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 22 July 2020 05:30GMT
EUR/USD - 1.1542… The single currency went through a roller-coaster session yesterday as despite gaining to 1.1469 on EU recovery fund optimism, price dropped to 1.1424 in Asia on profit-taking after EU leaders announced a deal has been reached. The pair found renewed buying there and jumped in New York morning to a 1-1/2 year peak at 1.1539 on usd’s broad-based weakness due to improved risk sentiment, then marginally higher to 1.1541 today.
Euro’s intra-day break above yesterday’s 18-month peak at 1.1539 signals erratic upmove from March’s bottom at 1.0637 remains in progress and further gain to 1.1570/75 would be seen after consolidation.
Bids are now seen at 1.1520/30 and more below at 1.1490/00 with stops building up below there whilst initial offers are noted at 1.1590/00.
In the absence of major economic data from the eurozone today, pay attention to comments from ECB President Christine Lagarde at 13:15GMT.
AceTraderFx July 23 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 23 July 2020 05:30GMT
EUR/USD - 1.1571… The single currency went through a roller-coaster ride yesterday as despite edging up to 1.1547 in Asia, price dropped to 1.1508 on risk aversion due to renewed U.S.-China tensions. However, renewed buying lifted the pair and euro rose to a 21-month peak at 1.1601 in New York morning on the return of risk sentiment before retreating to 1.1564 on profit-taking and then trading sideways inside a narrow range today.
Euro’s rise above Tuesday’s high at 1.1539 to 1.1601 yesterday signals upmove from March’s trough at 1.0637 remains in progress and further gain to 1.1630/40 would be seen after consolidation.
Bids are now seen at 1.1550/60 with stops building up below there whilst initial offers are noted at 1.1640/50.
Germany will release Gfk’s measure of consumer sentiment at 06:00GMT. Street forecast is -5.0 vs previous reading of -9.6. Elsewhere, ECB Vice President Luis de Guindos will take part in an online seminar at 09:00GMT.
AceTraderFx July 28 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 28 July 2020 05:30GMT
EUR/USD - 1.1749… The single currency extended its recent winning streak and rose above Friday’s high at 1.1658 to 1.1725 in Asia yesterday. The pair then found renewed buying at 1.1683 in European morning and rallied to a fresh 22-month peak at 1.1781 in New York morning on usd’s continued weakness before retreating to 1.1743 in New York afternoon on profit-taking. Price then rebounded again to 1.1773 in Asia today before weakening.
Euro’s intra-day retreat after failure to break yesterday’s high at 1.1781 suggests Medium Term upmove is not ready to resume yet and range trading would be seen, reckon bids at 1.1730/40 and more below at 1.1710/20 would contain downside and yield another rise later.
Above 1.1781 would extend to 1.1815 but offers at 1.1820/30 would cap upside and yield correction.
Data to be released on Tuesday :
UK CBI distributive trades, and U.S. redbook, CaseShiller home price, consumer confidence, Richmond Fed manufacturing index.
AceTraderFx July 29 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 29 July 2020 05:30GMT
USD/JPY - 105.08… Although the greenback edged up to 105.68 ahead of European open yesterday, the pair met renewed selling there and knocked price down in Europe on active cross-buying in jpy and the pair fell below Monday’s 105.12 to a fresh 4-month trough at 104.96 due partly to usd’s weakness before trading sideways throughout New York afternoon and briefly recovering to 105.24 in Asia today.
Dollar’s break below Monday’s 4-month bottom at 105.12 to 104.96 signals erratic decline from 111.71 (March) remains in progress and further weakness to 104.50/60 would be seen after consolidation.
Offers are now seen at 105.20/30 and more above at 105.40/50 with stops building up above there whilst initial bids are noted at 104.30/40.
Although there is a slew of U.S. data to be released today, market focus is on the Federal Reserve’s rate decision at 18:00GMT. It is widely expected that the central bank will keep its rates on hold but investors should pay extra attention to Chairman Powell’s press conference at 18:30GMT as he may provide hints on whether there will be additional easing of monetary policy in the future.
AceTraderFx Aug 03 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 03 Aug 2020 05:30GMT
EUR/USD - 1.1769… Although the single currency rose to a fresh 2-year peak at 1.1906 at European open on Friday, price erased its gains on usd’s broad-based rally and tumbled to 1.1762 in New York. The pair then recovered to 1.1796 in New Zealand today, however, renewed selling there knocked price back down to 1.1742 in Asia due partly to cross-selling in euro especially vs sterling before stabilising.
Euro’s intra-day break below 1.1762 suggests MT uptrend has made a temporary top at 1.1906 on Friday and choppy trading with mild downside bias would be seen. However, bids at 1.1730/40 and below at 1.1710/20 would contain current fall and yield a much-needed recovery later.
There is a slew of manufacturing PMIs to be released from the eurozone today. Pay particular attention to Germany’s figure at 07:55GMT, which is expected to remain unchanged at 50.0.
AceTraderFx Aug 04 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 04 Aug 2020 05:30GMT
USD/JPY - 106.16… The greenback swung wildly in hectic trading yesterday as despite initial jump to 106.43 in Asia, price fell sharply to session lows at 105.59 in European morning due partly to cross buying in jpy. The pair then erased intra-day losses and rallied to 106.47 in New York morning on usd’s renewed strength before retreating to 105.92 in late New York on profit-taking. However, renewed buying there lifted the usd and price rebounded to 106.19 in Asia today.
Dollar’s sharp retreat from 106.47 to 105.92 yesterday suggests the 1st leg of correction from Friday’s 4-1/2 month trough at 104.19 has ended there n consolidation with downside bias remains for weakness to 105.70/80.
Offers are now seen at 106.20/30 with stops building up above there whilst initial offers are noted at 106.70/80.
Pay attention to the release of U.S. factory orders at 14:00GMT. Street forecast is 5.0% vs previous reading of 8.0%.
AceTraderFx Aug 05 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 05 Aug 2020 05:30GMT
USD/JPY - 105.59… The greenback edged up to 106.19 in Asia yesterday before retreating to 105.85 in early European morning. Despite another rebound to 106.19 at New York open, failure to penetrate this level triggered renewed selling interest and the pair dropped to 105.64 in New York afternoon on falling U.S. Treasury yields together with cross-buying in jpy, then lower to 105.52 in Asian morning today.
Although dollar’s intra-day break below yesterday’s low at 105.64 suggests 1st leg of correction from last Friday’s 4-1/2 month trough at 104.19 has ended at 106.47 on Monday.
Bids at 105.40/50 and below at 105.20/30 should contain downside and yield another rebound later today.
Pay attention to the release of U.S. ADP employment at 12:15GMT and ISM non-manufacturing PMI at 14:00GMT. Street forecasts are 1,500k and 55.0 vs previous readings of 2,369k and 57.1 respectively.
AceTraderFx Aug 07 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 07 Aug 2020 05:30GMT
EUR/USD - 1.1849… Trading the single currency proved to be tricky in roller-coaster Thursday’s session. Although euro edged higher from 1.1864 (Asia) and hit a fresh 2-year peak of 1.1915 at European open, broad-based long liquidation in euro knocked price to session lows of 1.1819 in New York morning but only to rebounded later to 1.1893.
Despite yesterday’s rebound from 1.1819, euro’s intra-day retreat in Asia suggests choppy sideways swings would continue in Europe as traders are keeping their powder dry for release of US NFP. Offers are tipped at 1.1880/90 with stops above 1.1900 and more stops are touted at 1.0920.
Bids are noted at 1.18230/20 n more below with stops reported below 1.1800.
The euro area countries will release a slew of eco. data in European morning, please refer to our EI page for details.