AceTraderFx Aug 18: Intra-Day News and Views & data to be released today –EUR/USD
Intra-Day Market Moving News and Views
Update Time: 18 Aug 2021 05:30GMT
EUR/USD - 1.1719… The single currency inches higher in Asian morning after initial marginal weakness below previous 2021 bottom at 1.1705 (March) to a 10-month trough of 1.1703 on stop selling but lack of follow-through selling quickly lifted the pair.
Although intra-day recovery would bring consolidation in European morning, as the path of least resistance for the euro is down, market will test 1.1700 handle where a mixture of bids n stops are touted below there.
Offers are tipped at 1.1725/35 and more above with stops above 1.1755.
Ahead of market-moving U.S. CPI at 12:30GMT, the euro zone will release EU’s core HICP and HICP at 09:00GMT.
AceTraderFx Aug 19: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 19 Aug 2021 05:30GMT
EUR/USD - 1.1688… Euro bears returned with a vengeance at Asian open after euro’s overnight rebound from New York’s 10-month low of 1.1695 to 1.1742 on nasty short covering after release of less hawkish Fed minutes, price easily penetrated 1.1695 n hit fresh 2021 low of 1.1685.
As intra-day break of 1.1695 signals Medium Term downtrend has once again resumed, price is en route to projected target at 1.1653, then next chart objective at 1.1603 (see our tech page for details) early next week, therefore, trading euro from short side is the way to go.
Offers are tipped at 1.1705/15 with stops above 1.1745, some bids are noted at 1.1675/65 with some stops below 1.1650.
Eco. calendar from the euro area countries is very thin with EU’s current account being the only data due out.
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 2021 05:30GMT
USD/JPY - 109.74… Trading the pair on Thursday proved to be tricky as price swung wildly in European n New York sessions. Despite extending near term rise from this week’s 109.12 low (Monday) to 110.22 in Asia, price tumbled to 109.49 in European morning on active safe-haven yen buying due to weakness in global stocks n sharp drop in U.S. yields. However, recovery in U.S. equities n yields in New York session triggered unwinding of intra-day long yen positions and lifted price to 109.83, then 109.88 today.
Although yesterday’s fall from 110.22 signals further choppy trading below July’s 1-month peak at 110.79 would continue, present broad-based usd’s strength would bring sideways wings and as long as 109.49 holds, erratic rise from 109.12 may head to 110.32/35 but 110.54 should cap upside.
Bids are noted at 109.60-50 with stops below 109.45 while offers are tipped at 109.90/00 with stops above 110.25.
T.G.I.F., no U.S. eco. data is due out today so traders will take cue from intra-day moves in U.S. yields and later U.S. stocks.
Dallas Fed President Kaplan (non-voter) will participate in Q&A session on an event called “Economic Developments and Implications for Monetary Policy” at 15:00GMT.
AceTraderFx Aug 23: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 23 Aug 2021 05:30GMT
USD/JPY - 109.83… Although the pair met renewed buying at 109.73 in New Zealand n briefly penetrated Friday’s 109.88 high to 109.93 due to a bout of cross-selling in yen, intra-day broad-based retreat in the greenback capped dlr’s gain.
Dlr’s choppy swings on Friday after retreat from 110.22 to 109.49 Thursday suggests further range trading is in store, as long as 109.49 holds, upside bias remains, above 110.22 would indicate correction from August’s 1-month peak at 110.79 has ended.
Order board is fairly thin with bids noted at 109.60-50 with stops below 109.45 while offers are tipped at 109.95/05 with stops above there.
U.S. will release Markit mfg and services PMIs n exiting home sales.
A stronger-than-expected PMI reading would spur more usd buying n gain in U.S. yields.
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 2021 05:30GMT
EUR/USD - 1.1742… Euro pares Mon’s impressive gain from 1.1693 (AUS) to as high as 1.1750 due to broad-based usd’s weakness and sharp drop in U.S. yields n briefly retreated to 1.1735 in Asian morning.
As said Monday’s rally signals MT downtrend has made a temp. low at Friday’s 9-1/2 month bottom at 1.1664, consolidation with upside bias remains for further gain to 1.1784, o/bot condition should cap price below 1.1804.
Bids are noted at 1.1735-25 with stops below 1.1700 while offers are tipped at 1.1745/50 with stops above there.
On the data front, Germany will release Q2 GDP at 06:00GMT. ECB board member Schnabel will take part in a panel discussion at an economic event at 12:30 GMT.
AceTraderFx Aug 25: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 25 Aug 2021 05:30GMT
EUR/USD - 1.1738… The single currency pares yesterday’s gain in Asian morning after yesterday’s resumption of upmove from Friday’s 9-1/2 month bottom at 1.1664 to 1.1765 in NY morning before briefly retreating to 1.1744 as rally in U.S. yields triggered profit taking.
As euro’s said rise from 1.1664 suggests long-awaited correction of recent downtrend has taken place, as long as Tuesday’s 1.1728 low holds, upside bias remains for further headway to 1.1780/84 but reckon res at 1.1804 should cap current upmove.
Bids are noted at 1.1745/35 with stops touted below 1.1725 while some offers are tipped at 1.1765/70 with some stops reported above there.
On the data front, we have Germany’s key Ifo data for Aug, pay attention to Ifo business climate n current conditions, a higher-than-expected reading will push euro higher.
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 2021 05:30GMT
USD/JPY - 110.00… Dlr orbits 110.00 handle in subdued Asian morning after yesterday’s rise from 109.63 (AUS) to 110.12 in New York session due to broad-based yen selling on return of risk sentiment as well as rally in U.S. yields (benchmark 10-year climbed from 1.2830% to a near 2-week high of 1.3520%).
As dlr’s rise from 109.42 (Tue) to 110.12 suggests pullback from last week’s 110.22 high has ended, break of this res would extend upmove from 109.12 to 110.54, possibly re-test of Aug’s 1-month high at 110.79 if Fed’s J. Powell is sounding hawkish at Fri’s Jackson Hole symposium. Bids have been raised to 109.95/85 with stops below 109.80 while offers are tipped at 110.15/25 with stops reported above there.
U.S. will release a slew of eco. data later today, please refer to our EI page for details and pay attention to weekly jobless claims and continued jobless claims, also Q2 GDP, PCE and core PCE.
If U.S. data come in stronger than street forecast, U.S. yields and the greenback will move higher.
AceTraderFx Aug 27: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 27 Aug 2021 05:30GMT
USD/JPY - 109.98… Although dlr caught a bid at European open on Thursday ans climbed to 110.22 due to cross-selling in yen and intra-day gain in US yields, failure to penetrate 110.22 (last week’s high Thursday) pushed price back to 109.95 morning.
Intra-day sideways swings suggests range trading below 110.22 may continue in Europe as traders are keeping their powder dry ahead of Fed Pwoell’s keynote speech at Jakcson Hole at 14:00GMT (his prepared text may be released in early New York morning though). Market is expecting Fed’s tapering in his speech which is a prelude to rate rise in 2022, such a scenario would push usd higher vs G& currencies. On the flip side, if he sounds dovish, then usd bears may come back with a vengeance.
Offers are tipped at 110.15/25 with stops above there n bids are noted at 109.95/90 with stops below 109.85.
U.S. will release a slew of eco. data in New York morning, please refer to our EI page for details n pay attention to July’s PCE (Fed’s favourite inflation gauge), a higher-than-expected number would spark usd buying n higher US yields due to inflationary expectation.
AceTraderFx Aug 30: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 30 Aug 2021 05:30GMT
USD/JPY - 109.77… Although dlr remained on the back foot in Asia on Monday following decline from Friday’s near 2-week high of 110.26 to 109.79 in hectic New York session due to broad-based usd’s weakness following Fed Powell’s dovish Jackson Hole speech, price met renewed selling at 109.88 in New Zealand and fell marginally below 109.79 to 109.71 in Asian morning before edging higher on minor short covering.
As Friday’s selloff from 110.26 signals further volatile trading below August’s 110.79 peak would continue with downside bias, further weakness towards last week’s low at 109.42 is envisaged after consolidation, break would pressure price towards 109.12.
Order board is pretty thin with some offers tipped at 110.00/10 with stops above 110.30 while some bids are noted above 109.70-60 with stops below there.
On the data front, U.S. will later release pending home sales n Dallas fed mfg index.
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 2021 05:30GMT
EUR/USD - 1.1807… Euro inches higher at Asian open at 1.1796 n edged higher to 1.1807 ahead of Tokyo lunch session, suggesting pullback from Monday’s 2-week peak of 1.1810 has ended at 1.1784 (New York).
Trading the single currency from long side is favoured for resumption of upmove from August’s 9-1/2 month trough at 1.1664 to 1.1825/30, however, loss of momentum would cap price below 1.1857 n yield retreat later today.
Bids are noted at 1.1795-85 with stops below 1.1775 n offers are tipped at 1.1810/20 with stops touted above there.
We have data dump from the euro area countries in European morning, (please refer to our EI page for details).
AceTraderFx Sept 01: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 01 Sept 2021 05:30GMT
EUR/USD - 1.1802… Euro moves narrowly in subdued Asian morning after Tue’s retreat in New York morning from a 3-week high of 1.1847 (Reuters) to 1.1797 on rally in U.S. yields as well as month-end usd’s demand.
As said decline from 1.1847 signals recent upmove from August’s 9-1/2 month trough of 1.1664 has made a temporary top, however, intra-day broad-based euro’s buying vs yen, gbp n chf suggests range trading may continue before prospect of another fall for subsequent weakness towards 1.1734 (61.8% r of 1.1664-1.1847).
Offers are tipped at 1.1810/20 n more above with stops touted above 1.1850.
Bids are noted at 1.1795/90 with stops below 1.1780.
Today is PMI day in the euro area countries (please refer to our EI page for details), pay attention to German n EU Markit mfg PMIs.
We have ECB Board members Fernadez-Bollo n Widmann speaking at 11:55GMT n 12:00GMT respectively.
AceTraderFx Sept 02: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 02 Sept 2021 05:30GMT
EUR/USD - 1.1839… Euro pares Wed’s gain to a near 1-month peak of 1.1856 in New York morning due to renewed usd’s weakness and inched lower to 1.1838 in subdued Asian morning.
As yesterday’s break of Tuesday’s 1.1847 high signals recent upmove from August’s 9-1/2 month bottom at 1.1664 remains in force, upside bias remains for further gain to 1.1880/8, however, loss of upward momentum should cap price below 1.1909 (July peak) and risk has increased for a retracement of said rise ahead of Friday’s key U.S. jobs report. So whilst trading from long side is cautiously favoured, profit should be taken on next upmove.
Bids are noted at 1.1840-30 with stops touted below 1.1810 n offers are tipped at 1.1855/65 with stops above 1.1885 n more above 1.1910.
Eco. calender in the euro area countries is pretty thin with EU’s producer prices being the only data due out.
AceTraderFx Sept 03: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 03 Sept 2021 05:30GMT
USD/JPY - 109.92…Although the pair remained on the back foot on Fri n met selling at 109.97 due to continued usd’s weakness vs other G6 currencies, price briefly penetrated Wed’s 109.89 low to 109.85 after tripping stops below 109.90, lack of follow-through through selling due to cross weakness in yen quickly lifted price.
Expect range trading until European open before decline from this week’s 110.41 high (Wednesday) heads to 109.60, then 109.42 but reckon daily sup at 109.12 should remain intact. Offers are tipped at 110.05/10 with some stops above 110.15 while bids are noted at 109.85-80 with stops below 109.60.
U.S. release the most important eco. data later today, namely non-farm payrolls, market is expecting 750k increase vs prev. readings of 943k, however, if actual figure is much lower than forecast (due to Wednesday’s huge downside beat in ADP payrolls), then the greenback would come under active selling pressure.
Please refer to our EI page for details of other U.S. data
AceTraderFx Sept 06: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 06 Sept 2021 05:30GMT
USD/JPY - 109.81… Dlr pares Fri’s decline n edges higher in Asian morning on Monday to 109.83 shortly after Tokyo open.
Despite Friday’s fall from 110.07 (Asia) to 109.60 in New York morning on broad-based usd’s selloff vs other G6 currencies following a monster miss in U.S. payrolls and a spike down in U.S. yields, intra-day jump in U.S. yields (benchmark 10-year rallied from 1.267% to 1.336%) triggered short covering in the pair to 109.74 at the close. Expect range trading and as long as 110.07 res holds, decline from last week’s high at 110.41 would head back to 109.42, then later 109.12.
Order board is pretty thin on Mon with some offers tipped at 109.85/90 with stops above 110.10 while bids are noted at 1109.70-60 with stops touted below there.
No U.S. eco. data is due out as markets in U.S. as well as Canada are closed for Labor Day holiday.
AceTraderFx Sept 07: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 07 Sept 2021 05:30GMT
EUR/USD - 1.1882… Despite Monday’s stronger-than-expected retreat from 1.1886 (AUS) to 1.1856 in European morning on profit taking after hitting a 1-month peak of 1.1908 in post-NFP New York session on Friday and then narrow move in holiday-thin N. American session, the single currency caught a bid at Asian open today and climbed to 1.1884 due to renewed usd’s broad-based weakness.
Expect consolidation with upside bias ahead of European open, a firm break of said Monday’s high would signal pullback from 1.1908 has ended, then re-test of this level would be seen, however, as recent upmove is losing momentum, reckon upside would falter below daily res at 1.1976 and risk has increased for a correction ahead of Thursday’s key ECN monetary policy meeting.
Bids are noted at 1.1865/60 with stops below 1.1850 whilst some offers are tipped at 1.1885/95 and more above with stops above 1.1910.
The euro area countries will release a slew of eco. data, please refer to our EI page for details. Pay attention to German n EU’s ZEW eco. sentiment as well as EU GDP at 09:00GMT.
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 2021 05:30GMT
EUR/USD - 1.1847… Euro remains on the back foot after yesterday’s fall from 1.1884 (Asia) to 1.1838 in New York morning on intra-day usd’s strength due to rally in U.S. yields, suggesting range trading may continue until European open.
As the decline from Friday’s 1-month peak at 1.1908 suggests recent upmove from August’s 9-1/2 month bottom at 1.1664 has made a top there, consolidation with downside bias is seen ahead of Thursday’s key ECB monetary policy meeting (market is expecting a dovish hold), therefore, selling euro on recovery in expectation of retrace. of said upmove is favoured.
Offers are tipped at 1.1855/65 with stops touted above 1.1885 while bids are noted at 1.1840-30 with stops below there.
The euro area countries will release a slew of eco. data, please refer to our EI page for details.
We also have ECB’s Jochnick, McCaul n Fernandez-Bollo speaking at 08:20GMT, 11:00GMT n 13:45GMT respectively.
AceTraderFx Sept 09: Intra-Day News and Views & data to be released today –USD/JPY
Intra-Day Market Moving News and Views
Update Time: 09 Sept 2021 05:30GMT
USD/JPY - 110.16… Dlr remains under pressure in Asian morning on renewed yen buying following Wed’s intra-day gain to a 3-1/2 week high of 110.44 at European open but decline in global stocks n U.S. yields triggered safe-haven yen buying n quickly knocked price to 110.15.
Despite sideways swings in NY session, price fell marginally lower to 110.11 in Asian morning, suggesting further consolidation is in store before prospect of resumption of recent upmove to Aug’s peak at 110.79.
Bids are noted at 110.10/05 with some stops touted below 110.00 while offers are tipped at 110.40/45 with stops above there.
U.S. will later release weekly jobless claims n continued jobless claims. Last but not least, we have an army of Fed officials (8 in total!) scheduled to speak ahead of next week’s blackout ahead of Sept 21-22 FOMC meeting, pls refer to our EI page for details.
AceTraderFx Sept 10: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 10 Sept 2021 05:30GMT
EUR/USD - 1.1833… Euro moved broadly sideways in lethargic Thur’s session as the key ECB monetary policy meeting turned out to be a non-event. Price clocked up a 35 point range in post-ECB New York morning, price briefly rose to 1.1841 on unchanged rate decision by ECB but said it will slow bond buying pace n later ratcheted lower to session lows of 1.1806 when Lagarde emphasized this move is called calibration n not tapering.
Euro’s subsequent bounce back to 1.1839 in New York afternoon suggests further choppy swings above Wednesday’s 1.1803 low would continue in European morning, however, as long as 1.1851/56 res holds, decline from last Friday’s 1-month peak at 1.1908 would head to 1.1784/94 but loss of momentum should keep euro well above 1.1757.
Offers are tipped at 1.1835/40 with stops above 1.1860 while bids are noted at 1.1810/05 with stops below 1.1800.
On the data front, the only eco. number due out is France’s industrial out. The Eurogroup will meet today n ECB President Lagarde will speak at Eurogroup press conference at 09:30GMT, we have have a number of ECB also scheduled to speak in European morning, please refer to our EI page for details.
AceTraderFx Sept 13: Intra-Day News and Views & data to be released today – USD/JPY
Intra-Day Market Moving News and Views
Update Time: 13 Sept 2021 05:30GMT
USD/JPY - 109.95… The pair moves narrowly in Tokyo morning on Mon despite usd’s renewed strength vs other major counterparts as pullback in US yields after Friday’s rally n weakness in Asian stocks following decline in global equities Fri has dampened risk sentiment.
Dlr’s decline from last Wed’s 3-1/2 week high of 110.44 to 109.63 (Thursday) signals recent erratic upmove has made a top n Friday’s cross-inspired bounce to 109.99 suggests 1st leg of correction over, therefore, sideways swings are in store before prospect of another fall later today or tomorrow.
Offers are tipped at 109.95/05 with stops above 110.20 while some bids are noted at 109.80-70 with stops reported below 109.60.
No U.S. eco. data is due out today except Fed budget, so traders will take cue from movement in US yields and US stocks, however, market’s main focus is Tuesday’s US CPI data as higher readings will reinforce market expectation of Fed’s tapering at next week FOMC meeting.
AceTraderFx Sept 14: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and Views
Update Time: 14 Sept 2021 05:30GMT
EUR/USD - 1.1816… In stark contrast to Mon’s weak posture, the single currency remained on the front foot in Asian morning after staging a rebound from a 2-week trough of 1.1771 ahead of New York open to 1.1817 in New York morning as falling U.S. yields triggered broad-based long liquidation in usd.
Intra-day firmness suggests recent decline from September’s 1-month peak at 1.1908 has made a temp. low on Monday n consolidation with upside bias is seen for gain to 1.1839 (50% r from 1.1908), however, near term o/bot condition would cap price below Friday’s high at 1.1850. Whilst trading from long side for further intra-day gain is favoured, day trader should sell euro on upmove in anticipation of resumption of recent decline later this week.
No eco. data is due out from the euro area countries ahead of U.S. CPI, however, a number of ECB officials scheduled to speak, pls refer to our EI page for details.