AceTraderFx Aug 10 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 10 Aug 2020 05:30GMT
USD/JPY - 105.78… The greenback jumped to 106.05 in New York last Friday on release of upbeat U.S. jobs report, however, lack of follow-through buying triggered profit-taking and price retreated to 105.73 in thin Asian trading today as Japanese markets remain closed for Mountain Day holiday as geopolitical tensions between U.S. and China continue to linger.
Dollar’s strong rebound from last Thursday’s low at 105.31 to 106.05 Friday suggests pullback from last week’s high at 106.47 (Monday) has ended there and intra-day retreat would yield consolidation before prospect of another rise later. Above 106.05 would head to 106.19/20.
Bids are now seen at 105.60/70 with stops building up below there whilst initial offers are noted at 106.30/40.
In the absence of any economic data from U.S. today, pay attention to remarks from Chicago Federal Reserve President Charles Evans, who is scheduled to speak at 20:00GMT.
AceTraderFx Aug 11 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 11 Aug 2020 05:30GMT
USD/JPY - 106.03… The Japanese yen swung wildly in hectic trading yesterday as despite initial retreat to 105.73 in Asia, price rallied to session highs at 106.19 ahead of New York open on usd’s strength before dropping to an intra-day low at 105.71 in New York morning. The pair then rebounded strongly to 106.17 in Asia today due partly to the initial rally in Nikkei-225 as Japanese markets resumed trading before retreating again.
Despite dollar’s retreat from 106.19 to 105.71 yesterday, subsequent rebound suggests consolidation with upside bias remains and above 106.19 would bring re-test of last Monday’s peak at 106.47.
Bids are now seen at 105.80/90 and more below at 105.60/70 with stops building up below there whilst initial offers are noted at 106.60/70.
In the absence of major economic data from U.S. today, pay attention to comments from Richmond Federal Reserve President Thomas Barkin, who is set to on “Perspectives on the economy and what is next for recovery” at a webinar at 15:00GMT.
AceTraderFx Aug 12 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 12 Aug 2020 05:30GMT
EUR/USD - 1.1720… The single currency traded with a firm bias after falling to 1.1723 in Asia and gained to 1.1756 at European open before jumping to an intra-day high at 1.1807 in European morning. However, the pair met renewed selling there and tumbled to 1.1729 in late New York on usd’s broad-based strength, then lower to 1.1717 in Asia today.
Euro’s intra-day break below yesterday’s low at 1.1723 signals decline from last Thursday’s fresh 2-year peak at 1.1915 remains in progress and further weakness to 1.1697, then 1.1683 would be seen before prospect of rebound.
Offers are now seen at 1.1740/50 and more above at 1.1760/70 with stops building up above there whilst initial bids are noted at 1.1670/80.
Pay attention to the release of EU industrial production at 09:00GMT. Street forecasts for mm and yy are 10.0% and -11.5% vs previous readings of 12.4% and -20.9% respectively.
AceTraderFx Aug 13 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 13 Aug 2020 05:30GMT
EUR/USD - 1.1808… Although the single currency dropped to session lows at 1.1712 in Asia, price erased its losses and rallied to 1.1778 in European morning, then higher to 1.1816 in New York morning on usd’s broad-based weakness together with cross-buying in euro especially vs sterling.
The pair then retreated to 1.1781 in Australia today, however, renewed buying there lifted the pair to 1.1816 again in Asia today.
Euro’s rally from 1.1712 to 1.1816 yesterday suggests decline from last Thursday’s fresh 2-year peak at 1.1915 has made a temporary low there and consolidation with upside bias remains for gain to 1.1840/50.
Bids are now seen at 1.1770/80 and more below at 1.1750/60 with stops building up below there whilst initial offers are noted at 1.1870/80
Thursday data releases :
New Zealand food price index, UK RICS housing survey, Japan corporate goods price, machine tool orders, Australia employment change, unemployment rate.
France ILO unemployment rate, Germany CPI, HICP, wholesale price index.
U.S. import prices, export prices, initial jobless claims, continued jobless claims.
AceTraderFx Aug 14 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 14 Aug 2020 05:30GMT
EUR/USD - 1.1811… The single currency swung wildly in hectic trading yesterday. The pair traded with a firm bias in Europe and gained to session highs at 1.1864 in New York morning on usd’s broad-based weakness, however, price pared its gains and retreated sharply to 1.1794 in New York afternoon. Euro then staged a rebound to 1.1820 at Asian open today before retreating again to 1.1802.
Euro’s sharp retreat from 1.1864 to 1.1794 yesterday suggests the recovery from Wednesday’s low at 1.1712 has ended there and consolidation with downside bias remains for weakness to 1.1750/55.
Offers are now seen at 1.1830/40 with stops building up above there whilst initial bids are noted at 1.1720/30.
EU will release its final figures its Q2 GDP at 09:00GMT. Street forecasts for QQ and YY are -12.1% and -15.0%, unchanged from their preliminary readings respectively.
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AceTraderFx Aug 17 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 17 Aug 2020 05:30GMT
USD/JPY - 106.52… The greenback remained under pressure on Friday and dropped to session lows at 106.44 in New York morning on usd’s broad-based weakness due to stalemate in talks between the Democrats and Republicans on the coronavirus pandemic aid stimulus. The pair then staged a short-covering rebound to 106.65 in New Zealand today, however, price met renewed selling interest and retreated to 106.47 in Asian morning.
Dollar’s fall to 106.44 on Friday suggests the 1st leg of correction from July’s 4-1/2 month trough at 104.19 has ended at last Thursday’s near 3-week peak at 107.04 and mild downside bias would be seen, however, bids at 106.20/30 would contain current fall and yield another rebound.
In the absence of major economic data from the U.S. today, one should pay attention to comments from Atlanta Fed President Raphael Bostic, who is scheduled to speak at 16:00GMT.
AceTraderFx Aug 20 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 20 Aug 2020 05:30GMT
USD/JPY - 106.12… The greenback swung wildly in hectic trading yesterday as despite rebounding strongly from Asian low at 105.11 to 105.60 ahead of European open, price retreated to 105.18 ahead of New York open. However, the pair then erased its losses and rallied to session highs at 106.14 near New York close on usd’s broad-based rally after the rally of Fed’s FOMC minutes, which hinted the central bank would consider extending the duration on its aggressive monetary policy. Price then found renewed buying at 105.98 in Australia today and gained to 106.21 before stabilising.
Dollar’s intra-day break above overnight resistance at 106.14 suggests decline from August’s near 3-week peak at 107.04 has made a temporary low at 105.11 yesterday and consolidation with upside bias remains for stronger retracement to 106.65.
Bids are now seen at 105.80/90 and more below at 105.60/70 with stops building up below there whilst initial offers are noted at 106.90/00.
Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is 925k vs previous reading of 963k. Elsewhere, the President of San Francisco Federal Reserve Mary Daly will speak at 17:00GMT.
AceTraderFx Aug 21 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 21 Aug 2020 05:30GMT
EUR/USD - 1.1866… The single currency swung wildly in hectic trading yesterday as despite initial rebound to 1.1868 in early European morning, price retreated to 1.1813, then lower to session lows at 1.1803 in New York morning due to cross-selling of euro especially vs sterling. However, the pair then erased its losses and rallied to 1.1864 in New York, then higher to 1.1876 in Asia today on usd’s weakness before stabilising.
Euro’s strong rebound from yesterday’s low at 1.1803 suggests the 1st leg of correction from Tuesday’s fresh 2-year peak at 1.1965 has ended there and gain to 1.1890/95 would be seen, however, offers at 1.1900/10 should limit upside and yield another retreat later.
Below 1.1831 would bring re-test of 1.1803, break would extend marginally but bids at 1.1780/90 would contain downside.
There is a slew of PMIs due from the eurozone today but pay particular attention to Germany’s manufacturing and services PMIs at 07:30GMT. Street forecasts are 52.5 and 55.1 vs previous readings of 51.0 and 55.6 respectively.
AceTraderFx Aug 24 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 24 Aug 2020 05:30GMT
EUR/USD - 1.1802… The single currency pares Friday’s losses in relatively subdued Asian trading n recovered to 1.1806 ahead of Asian open, suggesting range trading is in store.
As Fri’s selloff from 1.1882 (Europe) due to downbeat euro zone PMI data to an 8-day low of 1.1755 in New York on broad-based usd’s strength signals decline from last Tuesday’s 2-year peak at 1.1965 would resume towards next daily obj. at 1.1712 after consolidation.
Order book is pretty light on Monday with offers tipped at 1.1805/10 and stops above 1.1835 while some bids are noted at 1.1765-55 with stops below 1.1750.
There is no eco. data due out from the euro zone, however, German Bundesbank will release its monthly report during European morning.
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AceTraderFx Aug 26 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 26 Aug 2020 05:30GMT
USD/JPY - 106.51… The greenback traded with a firm bias in Asia and Europe yesterday on the return of risk sentiment due to U.S.-China trade optimism and price gained to 106.49 before retreating to 106.26 at New York open. However, renewed buying there lifted the pair and dollar rose to session highs at 106.57 in New York morning before stabilising.
Dollar’s break above previous resistance at 106.21 to 106.57 yesterday suggests near term decline from Augu’st peak at 107.04 has made a low at last week’s bottom at 105.11 and consolidation with upside bias remains for stronger retracement to 106.80/90. Bids are now seen at 106.20/30 with stops building up below there whilst initial offers are noted at 107.00/10.
Pay attention to the release of U.S. durable goods at 12:30GMT. Street forecast is 4.3% vs previous reading of 7.6%.
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AceTraderFx Aug 27 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 27 Aug 2020 05:30GMT
EUR/USD - 1.1828… The single currency swung wildly in hectic trading yesterday as despite edging up to 1.1840 in Asia, price dropped to session lows at 1.1773 at New York open on usd’s brief strength on the back of upbeat U.S. data. However, the pair erased its losses and rebounded strongly to 1.1838 in late New York, then to 1.1849 today in Asia before retreating again.
Euro’s intra-day re-test of Monday’s high at 1.1749 suggests near term upmove from last Friday’s low at 1.1755 would resume after consolidation and head to 1.1860/65, however, offers at 1.1860/70 would limit upside and yield another retreat later. Below 1.1773 would bring re-test of 1.1755 later.
In the absence of major economic data from EU today, pay attention to comments from ECB board member Philip Lane at 15:50GMT, who is scheduled to speak at the 44th Economic Policy Symposium.
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AceTraderFx Aug 28 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 28 Aug 2020 05:30GMT
EUR/USD - 1.1832… The single currency went through a volatile session in New York yesterday as despite initially rebounding to 1.1849 in Asia, price dropped to 1.1795 ahead of New York open before jumping to an intra-day high at 1.1901 after Fed Chairman Powell’s initial remarks. However, the pair then swiftly erased its gains and tumbled to session lows at 1.1763 on usd’s broad-based rally before staging a strong recovery to 1.1834 in New York afternoon and then trading sideways today.
Euro’s selloff from 1.1901 to 1.1763 yesterday suggests the recovery from last Friday’s low at 1.1755 has ended there and subsequent rebound would yield consolidation before prospect of another retreat later.
Offers are now seen at 1.1850/60 and more above at 1.1870/80 with stops building up above there whilst initial bids are noted at 1.1730/40.
Pay attention to the release of EU business climate, economic sentiment and consumer confidence at 09:00GMT. Street forecasts are -1.18, 85.0 and -14.7 vs previous readings of -1.80, 82.3 and -14.7 respectively.
AceTraderFx Aug 31 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 31 Aug 2020 05:30GMT
EUR/USD - 1.1911… The single currency rallied to 1.1919 in European morning on Friday on usd’s broad-based weakness before retreating sharply to 1.1868 in New York morning. However, the pair found renewed buying there and gained to 1.1929 in Asian morning today and continues to trade with a firm bias.
Euro’s intra-day break above Friday’s high at 1.1919 to 1.1929 signals early correction from August’s fresh 2-year peak at 1.1965 has ended at 1.1755 earlier and consolidation with upside bias remains for further gain to 1.1950/55 but aforesaid top should hold on 1st testing and yield retreat. Bids are now seen at 1.1880/90 with stops building up below there whilst offers are noted at 1.1960/70.
Pay attention to the release of Germany’s CPI mm and yy at 12:00GMT. Street forecasts are -0.2% and 0.1% vs previous readings of -0.5% and -0.1% respectively.
AceTraderFx Sept 01 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 01 Sept 2020 05:30GMT
USD/JPY - 105.68… The greenback found renewed buying at 105.30 in Asia yesterday and rallied to session highs at 106.09 in early New York morning due partly to cross-selling in jpy before retreating to 105.79 on profit-taking. The pair then staged a rebound to 106.03 at Asian open today, however, renewed selling there knocked price back down and dollar fell to 105.67 on usd’s broad-based weakness.
Dollar’s retreat from yesterday’s high at 106.09 suggests the recovery from last Friday’s low at 105.21 has ended there and consolidation with downside bias remains, below 105.21 would bring re-test of August’s bottom at 105.11 later.
Offers are now seen at 105.80/90 with stops building up above there whilst initial bids are noted at 104.90/00.
Pay attention to the release of US ISM manufacturing PMI at 14:00GMT. Street forecast is for a slight uptick to 54.5 from previous reading of 54.2.
AceTraderFx Sept 02 : Intra-Day News and Views & data to be released today - USD/JPY
Intra-Day Market Moving News and Views
Update Time : 02 Sept 2020 05:30GMT
USD/JPY - 106.08… The greenback went through a roller-coaster ride on Monday as despite edging up to 106.03 in Asia, price swiftly dropped to session lows at 105.60. However, lack of follow-through selling triggered short-covering and price then rose to an intra-day high at 106.15 in New York morning due partly to upbeat U.S. data. Then pair then weakened to 105.86 at Asian open today before staging another recovery to 106.12.
Dollar’s rebound from Monday’s low at 105.21 to 106.15 yesterday suggests further choppy trading above August’s bottom at 105.11 would continue with upside bias and marginal gain is likely.
However, offers at 106.40/50 and more above at 106.60/70 should cap current rise and yield retreat later.
Pay attention to release of U.S. ADP employment at 12:15GMT. Street forecast is 950k, up significantly from previous reading of 167k. Elsewhere, New York Fed President John Williams will speak at 14:00GMT whilst Minneapolis Fed President Kashkari will deliver remarks at 18:00GMT.
AceTraderFx Sept 03 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 03 Sept 2020 05:30GMT
EUR/USD - 1.1828… The single currency met renewed selling at 1.1929 in Asia yesterday and retreated to 1.1893. Intra-day decline accelerated in European morning due partly to cross-selling in euro especially vs sterling and dropped to an intra-day low at 1.1823 in New York morning on usd’s weakness before staging a rebound to 1.1857 near New York close on short-covering. The pair then retreated again to 1.1825 in Asia today and continues to remain under pressure.
Euro’s fall to 1.1823 yesterday suggests MT uptrend has made a temporary top at Tuesday’s fresh 2-year peak at 1.2011 and consolidation with downside bias remains for weakness to 1.1780/90.
Offers are now seen at 1.1850/60 with stops building up above there whilst initial bids are noted at 1.1760/70.
There is a slew of services PMIs to be released from the euro area today but one should pay attention to the release of EU retail sales at 09:00GMT.
Street forecasts for mm and yy are 1.5% and 3.5% vs previous readings of 5.7% and 1.3% respectively.
AceTraderFx Sept 04 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 04 Sept 2020 05:30GMT
EUR/USD - 1.1846… Although the single currency met renewed selling at 1.1855 in Australia yesterday and dropped to session lows at 1.1790 at European open on usd’s strength, price erased its losses and rallied to 1.1848 in New York morning, then higher to an intra-day high at 1.1864 in New York afternoon on usd’s weakness together with cross-buying in euro especially vs sterling. Lack of follow-through buying triggered profit-taking and price retreated to 1.1839 at Asian open today before trading sideways.
Despite yesterday’s rally from 1.1790 to 1.1864, subsequent retreat suggests the recovery has possibly ended, below 1.1800/05 would confirm and bring re-test of said support, break would extend decline from Tuesday’s 2-year peak at 1.2011 to 1.1763.
Offers are now seen at 1.1750/60 with stops building up above there whilst initial bids are noted at 1.1740/50.
Pay attention to the release of Germany industrial orders at 06:00GMT. Street forecasts for mm and yy are 5.0% and -20.4% vs previous readings of 27.9% and -11.3% respectively. Elsewhere, ECB Chief Economist Philip Lane is scheduled to speak at the ECB Annual Research Conference at 15:00GMT.
AceTraderFx Sept 08 : Intra-Day News and Views & data to be released today - EUR/USD
Intra-Day Market Moving News and Views
Update Time : 08 Sept 2020 05:30GMT
EUR/USD - 1.1806… The single currency remained under pressure in Asia yesterday and despite a brief rebound to 1.1848 in early European morning, price dropped to 1.1813 in Europe before trading sideways in holiday-thinned North American session. The pair then met renewed selling at 1.1822 in Australia today and fell to 1.1796 in Asian morning on usd’s broad-based rebound.
Euro’s intra-day break below yesterday’s low at 1.1813 signals a re-test of Fri’s trough at 1.1782 would be seen after consolidation, break there would extend decline from last Tuesday’s 2-year peak at 1.2011 to 1.1760/65. Offers are now tipped at 1.1820/30 with stops building up above there whilst initial bids are noted at 1.1740/50.
AceTraderFx Sept 08 : Daily Recommendations on Major – USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time : 08 Sept 2020 09:30GMT
USD/JPY - 106.26
Dollar’s sideways move following rally from last Monday’s 105.30 low to 106.55 on Thursday suggests choppy trading inside recent 107.04-105.11 broad range would continue, as long as 106.01 holds, consolidation upside bias remains, above 106.55 would head to 106.94 but 107.04 may limit upside.
On the downside, only below 106.01 would risk stronger retracement to 105.86, then 105.60/70 before prospect of rebound.
Data to be released later :
UK BRC retail sales, France non-farm payrolls, current account, trade balance, imports, exports, Germany exports, imports, trade balance, current account, Italy retail sales, EU employment change, GDP.
Canada leading index.
DAILY MARKET OUTLOOK on Major