AceTraderFx Nov 06: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
06 Nov 2017 03:00GMT
USD/JPY - 114.58… The Japanese yen took centre stage in active Tokyo trading. Although price opened lower at New Zealand open on Monday, renewed buying at 113.96 quickly lifted price n the pair continued to move higher when Tokyo trading got underway.
Intra-day rise accelerated after dovish comments by BoJ’s Kuroda (though nothing new, see early updates for details) is speaking at a meeting with business leaders in Nagoya, Japan n dlr penetrated previous October’s 114.45 high and climbed to a 7-1/2 month peak at 114.74 after tripping stops above 114.45/5.
Expect minor consolidation before prospect o further rise, so buying dlr again on dips is favoured following Friday’s rally in post-NFP New York session on the back of upbeat ISM -non-mfg PMI and services PMI.
Bids have been raised to 114.45-35 with stops below 114.00, offers are tipped at 114.75/85 with stops above 115.00.
No U.S. eco. data is due out today but New York Fed President Dudley will speak before a luncheon of the Eco. Club of New York at 17:10GMT.
AceTraderFx Nov 07: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
07 Nov 2017 03:00GMT
USD/JPY - 113.88… Dlr pares o/n losses n inches higher from New York low of 113.70 after meeting some buying interest at 113.71/72 in Asia.
Despite yesterday’s initial rally to a 7-1/2 month peak of 114.74 on broad-based yen selling, the greenback quickly relinquished its intra-day gain n retreated to 113.96 in Europe due to falling U.S. yields.
Price staged a modest to 114.19 in New York morning before falling on the back of broad-based usd’s weakness to session lows of 113.70 near the close.
Looks like yesterday’s 114.74 high would hold for a day or 2 and choppy consolidation is in store, so one can sell the greenback of recovery due to falling U.S. yields (benchmark 10-year is currently at 2.3271% vs October’s high at 2.477%) or on next decline.
Offers are tipped at 114.00/10 and more above with stops above 114.45.
Bids are noted at 113.70 with stops below 113.50.
No U.S. eco data is due out but out-gong Fed chair Yellen will give a speech (unrelated to Fed policy) in Washington at 19:30GMT.
AceTraderFx Nov 08: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
08 Nov 2017 03:40GMT
EUR/USD - 1.1594… Despite hitting a fresh 3-month trough of 1.1554 in Europe on Tuesday after penetrating October’s bottom at 1.1575, the single currency regain traction in New York trading n ratcheted higher on short covering to 1.1592 in New York afternoon due to broad-based weakness/retreat in the usd.
The pair briefly climbed to 1.1606 after tripping some stops above 1.1600 ahead of Asian open following report from The Washington Post of possibly delays to U.S. corporate tax cut (see earlier update for details), Despite intra-day minor pullback, range trading with upside bias is likely to continue in Europe and pay attention to reaction from European traders to the The Washington Post’s report which may lead to further buying of the euro (or usd selling).
Bids are noted at 1.1585-75 and more below with stops reported below 1.1550.
Offers are tipped at 1.1615/25 with stops above there.
Eco. calendar in the euro area countries is very light today with France’s trade balance being the only data due out. German Chancellor Merkel will speak at Presentation of Economic Council’s Report at 10:00GMT.
AceTraderFx Nov 09: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
09 Nov 2017 02:40GMT
EUR/USD - 1.1595… The single currency orbited 1.1600 level in lack lustre Wednesday’s session without a clear direction. Despite initial firmness in Asia and European morning due to usd’s broad-based weakness on possible delay in U.S. tax reform, selling at 1.1611 capped intra-day gain and price ratcheted lower to 1.1579 in New York morning and later moved narrowly below 1.1600 for rest of the New York session.
Although euro’s rebound from 1.1554 (Tuesday) to 1.1611 yesterday signals recent decline has made a temp. low, subsequent retreat to 1.1579 in New York suggests range trading would continue with a neutral bias, however, as long as previous res at 1.1616/24 holds, prospect of another fall still remains.
Offers are tipped at 1.1610/20 with stops above 1.1630.
Bids are noted at 1.1580-70 with stops reported below 1.1550.
Germany will release several trade data n EU will release eco. bulletin and eco. growth forecasts.
There will be a number of ECB members speaking today starting with ECB’s Nouy, ECB’s Coeure, ECB’s Mersch, ECB’s Constancio n ECB’s Lautenschlager.
AceTraderFx Nov 10: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
10 Nov 2017 03:00GMT
USD/JPY - 113.34… Dlr moves in calm Asian trading on Friday after a whippy Thur session.
Despite initial marginal gain to 114.07 shortly after Asian open yesterday, dlr fell on intra-day active yen-buying due to selloff in the Nikkie, price weakened to a 1-week low of 113.24 ahead of New York open.
Although the pair staged a short-covering rebound to 113.69, broad-based decline in the greenback after details of Senate Republican tax bill were unveiled to cut the corporate tax rate to 20% from 35% but to delay implementation until 2019 sent price hitting fresh session lows of 113.09.
However, rebound in the U.S. yields in New York afternoon lifted price to 113.52.
Looks like range trading would continue until European open n as long as 113.09 low holds, consolidation with upside bias is in store but today’s continued weakness in the Nikkie (N225 is currently down over 300 points at 22,552) suggests caution.
Bids are noted at 113.30-20 with stop reported below 112.90.
Offers are tipped at 113.60/70 with stops above 114.10.
U.S. financial markets are closed for Veterans Day holiday but U.S. will release University of Michigan consumer confidence at 14:00GMT.
AceTraderFx Nov 13: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
13 Nov 2017 03:00GMT
USD/JPY - 113.68… Dlr stands tall in early trading in Asia as intra-day selloff in the pound (see Sunday’s MMN update) has led to broad-based usd’s gain.
Although price opened flat in New Zealand, broad-based decline in sterling led to a bout of usd buying, price penetrated Friday’s 113.64 high to 113.72 shortly after Tokyo open, his move suggests early correction from last Monday’s 7-1/2 month peak at 114.74 has ended at 113.09 (Thursday) and consolidation with upside bias is seen, Friday’s rally in U.S. yields (benchmark 10-year briefly climbed to a 2-week high of 2.4055%) should lend sup to the pair, so buying on dips is the way to go.
Bids are noted at 113.50-40 ans more below with stops reported below 114.00.
Offers are tipped at 113.80/90 and more above with stops above 114.10.
Although U.S. markets are back after Friday’s Veterans Day holiday, no eco. data is due out today, so technical trading may well prevail and one can track intra-day move in the 10-year U.S. yields as rising rates will push dlr higher.
AceTraderFx Nov 14: Intra-Day Market Moving News and Views -GBP/USD
Intra-Day Market Moving News and Views
14 Nov 2017 02:00GMT
GBP/USD - 1.3222… Cable rebounded on short covering in New York afternoon yesterday. Traders cited latest Brexit news for such a move. Reuters reported earlier British Brexit minister David Davis said on Monday the government would allow parliament the opportunity to debate, scrutinise and vote on any final Brexit agreement, offering a concession to Conservative Party rebels.
Prime Minister Theresa May is under pressure to offer a ‘meaningful vote’ on any deal for Britain’s departure from the European Union. Members of her own party are willing to vote against the government to stymie a bill which she says is needed to sever ties with the bloc.
Due to market woes on U.K. leadership challenge suggests downside bias remains, below 1.3027 would extend fall from 1.3659 towards 1.2995.
Hold short for 1.3045 and only above 1.3165 would ‘prolong’ choppy consolidation, risk 1.3190/00 before down.
AceTraderFx Nov 15: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
15 Nov 2017 03:30GMT
USD/JPY - 113.17… Trading the pair yesterday proved to be tricky as despite initial firmness in Asia and then intra-day brief gain to 113.91 on rising U.S. yields after tripping some stops above 113.75, rally in the eur/usd in Europe together with sharp retreat in U.S. yields led to broad-based usd’s weakness, price fell to 113.31 in New York morning.
Despite moving sideways in New York afternoon session, dlr met renewed selling in early Asian trading at 113.50 and fell to a 2-week low of 113.04 due to continued decline in U.S. yields.
Looks like price may head lower in European trading due to expected usd’s weakness, so selling the pair on recovery is recommended.
Offers are tipped at 113.40/50 and more above with stops above 113.75.
A mixture of bids and stops is reported at 113.00-112.90.
Pay attention to release of key U.S. CPI n retail sales data at 13:30GMT and as it is our latest view usd may have already entered into another leg of broad-based decline, if the data come in weaker than market forecast, be prepared for further decline and even actual readings beat estimate, intra-day gain may only be short lived.
AceTraderFx Nov 16: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
16 Nov 2017 02:30GMT
USD/JPY - 112.92… Dlr moved broadly sideways in subdued Asian morning after yesterday’s selloff to a 3-week low of 112.48.
Although traders ignored upbeat U.S. retail sales and CPI data and sold the greenback broadly after the release and knocked price to session lows of 112.48, short covering quickly emerged and lifted the buck across the board, price later rallied on active short covering to 113.19 but only to succumb to falling U.S. yields n retreated to 112.73 late New York trade and edging higher as U.S. yields inched higher.
Looks like choppy trading above 112.48 would be seen from here as usd extended gain vs the euro in Australian morning.
Offers at 113.15/25 may cap intra-day gain and yield another fall later in the day.
Bids are noted at 112.65-55 with stops below 112.40.
After yesterday’s key U.S. data, today we have weekly jobless claims, import n export prices, Philly Fed survey, industrial and manufacturing prod. data, capacity utilization and NAHB housing market index. A number of Fed officials will be speaking today too (pls see EI page for details), so one can expect a lively New York session.
Last but not least, although the U.S. House will vote on Trump’s tax plan, the outcome may well come late in the day, so just have to keep an eye out on the breaking news if you want to trade on the news (pun intended).
AceTraderFx Nov 17: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
17 Nov 2017 03:30GMT
USD/JPY - 112.50… Dollar fell broadly in hectic Asian trading as Bloomberg TV reported, citing source from the WSJ, U.S. Special Counsel Mueller said to have issued subpoena to Trump’s campaign.
The pair initial penetrated initial sup at 112.73/75 and tripped stops below there, intra-day decline continued and price then breached Wednesday’s 112.48 low at 112.48 and hit a 4-week trough of 112.40 ahead of Tokyo lunch break before staging a minor recovery on short covering.
Intra-day usd’s weakness vs its G7 peers suggests further losses are to be expected in European trading as European players have yet to react to the Mueller’s news n market has discounted Thursday’s passing of GOP tax bill by the House as the tax reform still faces uncertainty when it is sent to the Senate for voting which is expected to be well after next Thursday’s Thanksgiving Day holiday.
Offers have been lowered to 112.65/75 and more above with stops above 113.15.
Some bids are noted at 112.40-30 with stops below 112.00.
U.S. will release building permits, housing starts n KC Fed manf. index later today and these data are unlikely to save the falling usd.
AceTraderFx Nov 20: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
20 Nov 2017 03:20GMT
EUR/USD - 1.1734… Despite moving narrowly in New Zealand and Australian morning, the single currency took centre stage n tumbled on news reported the weekend marathon coalition talks between Merkel’s CDU parties with other 3 parties (esp. the FDP) broke down, the pair fell from 1.1798 (AUS) to as low as 1.1723 ahead of Asian open.
Despite staging a short- covering bounce to 1.1750/51, euro is hovering just above said intra0day low, suggesting price may well come under renewed selling pressure when European early birds come to the market.
Offers are tipped at 1.1750/60 and more above with stops above 1.1800.
Some bids are noted at 1.1725-20 with stops below 1.1700.
Germany will release PPI at 07:00GMT and Buba will publish its monthly report.
The EU General Affairs Council meeting starts today, ECB’s Luatenschlager will speak at 12:15GMT, then ECB’s President will speak to European Parliament’s ECON Committee at 14:00GMTECB’s Vice President Constancio will be chairing a panel at ECB’s conference in FFT at 14:15GMT.
AceTraderFx Nov 21: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
21 Nov 2017 03:10GMT
USD/JPY - 112.55… The pair maintains firm footing in fairly subdued Asian trading following yesterday’s rally from a 4-1/2 week bottom at 111.89 (AUS) to as high as 112.72 in New York afternoon due to broad-based usd’s gain together with rising U.S. Treasury yields.
Dlr’s said strong bounce from 111.89 suggests recent decline has made a temporary low there and range trading is seen before further gain due to anticipated strength in the greenback vs its G7 counterparts, so buying on dips is recommended.
Bids are noted at 112.50-40 and more below with stops below 112.20.
Offers are tipped at 112.70/80 with stops above 113.00.
U.S. will release national activity index, Redbook retail sales and existing home sales. Also, Fed Chair Yellen will participate in moderated discussion at a conference in New York at 23:00GMT but since she is stepping down as soon as Fed Government Powell takes over in Feburary 2018, her comments will no longer carry much weight.
AceTraderFx Nov 22: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
22 Nov 2017 03:00GMT
USD/JPY - 112.33… Dlr continued to swing broadly sideways in choppy Tuesday’s trading. Despite initial gain to 112.70 yesterday, offers below Monday’s 112.72 emerged n knocked price steadily lower in European morning. Dlr briefly spiked lower to session lows of 112.18 in New York morning on falling U.S. yields and then recovered to 112.52 at New York midday.
The greenback weakened broadly ahead of Asian open on mildly dovish comments by Fed Chair Yellen when said said she is “very uncertain” about inflation will rebound and is open to the possibility that prices could remain low for years to come. In addition, WSJ news of continued investigation by U.S. Special Council Mueller (see previous update for details) led to a bout of yen-buying on risk aversion pressured the pair to 112.20.
However, renewed buying above yesterday’s New York low at 112.18 has lifted the pair ahead of Tokyo lunch break.
Looks like broad sideways trading would continue until European open so traders can play the near term 112.20-112.70 range for now.
Bids are noted at 112.20-15 with stops below 112.00, more stops are reported below 111.80.
Offers are tipped at 112.50/55 n more at 112.70/75 with stops above there.
U.S. will release MBA mortgage applications, durable goods orders, initial weekly jobless claims, University of Michigan consumer confidence n last but not least, last FOMC minutes at 19:00GMT.
AceTraderFx Nov 23: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
23 Nov 2017 03:30GMT
USD/JPY - 111.35… Dlr finally staged a short-covering rebound in holiday-thinned Asian morning as financial markets in Japan are closed for Labour Thanksgiving Day holiday.
Although the pair remained on the back foot earlier in Australia after yesterday’s selloff which started in Australia from 112.50 and fell to 111.95 in European morning, intra-day descent accelerated in New York session, triggering a series of stops below 111.80, then 111.65.
Price tumbled to a 2-month trough of 111.15 following release of dovish Fed minutes. Although renewed selling emerged at 111.31 ahead of Asian open m knocked price lower to intra-day low at 111.07, the pair climbed steadily on broad-based yen-selling.
Dlr’s intra-day rebound suggests a temporary bottom is in place and range trading is expected in European session and with U.S. markets off for Thanksgiving Day holiday, trading may slow in North American morning session.
Offers are tipped at 111.40/50 with stops above 111.95.
Bids are noted at 111.10-00 with stops below there.
AceTraderFx Nov 24: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
24 Nov 2017 02:10GMT
USD/JPY - 111.33… Despite moving narrowly in holiday-thinned North American session due to U.S. Thanksgiving Day holiday Thursday, the pair met renewed buying in Australia at 111.20 and climbed briefly above yesterday’s 111.38 high to 111.44 on bargain hunting by Japanese names (importer) as Japanese players also returned from Thursday’s Labor Thanksgiving Day holiday too.
Although dlr’s intra-day gain in Asian morning suggests range trading above yesterday’s fresh 2-month trough at 111.07, offers reported at 111.45/50 and more above with stops above 111.90 should cap upside and price may resume its recent descent due to falling U.S. yields later today.
Bids for now are noted at 111.20-10 with stops below 111.00.
U.S. eco. calendar is pretty thin with Markit manufacturing and services PMIs being the only data due out at 14:45GMT but these data may well move the market if actual reading come in weaker or stronger than market expectations.
AceTraderFx Nov 27: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
27 Nov 2017 02:30GMT
USD/JPY - 111.43… Dlr swung wildly in hectic trading on Monday Despite opening lower n briefly dipping to 111.37 in New Zealand on cross-buying in yen, the pair quickly erased intra-day losses n climbed ahead of Tokyo open to 111.69 after tripping stops above Friday’s 111.58 high.
However, dlr was unable to hold on to its short-lived intra-day gain and came under selling pressure due to renewed broad-based yen buying on the back of weakness in the Nikkie.
Dlr’s intra-day weakness suggests early correction from last Thursday’s 2-month trough at 111.07 has possibly ended and below Friday’s New Year low at 111.30 would add credence to this view.
Offers are tipped at 111.55/65 with stops above 111.70, more stops are reported above 111.90.
Initial bids are noted at 111.40/30 with stops below there and more stops are building below 111.00.
U.S. eco. calendar is pretty light with October new home sales and Dallas Fed mfg business index being the data due out during New York morning.
AceTraderFx Nov 28: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
28 Nov 2017 02:30GMT
USD/JPY - 111.17… Dlr swung broadly sideways in choppy Asian trading following yesterday’s weakness to a fresh 2-month trough of 110.84 in New York morning due to yen buying on risk aversion following media reports that North Korea may be preparing for another missile launch (see previous update for details), however, price briefly jumped to 111.31 at the close on short covering.
Looks like we have made a temp. low as the greenback is currently maintaining a firm undertone against its major peers, suggesting range trading is in store, so selling dlr on further intra-day recovery is still favoured.
Initial offers are tipped at 111.30 with stops above 111.45, however, more selling interest is reported at 111.60/70.
On the downside, bids are noted at 110.95-85 with stops below 110.80.
Pay attention to a slew of U.S. data stating with building permits, wholesale inventories, Redbook retail sales, monthly home sales, monthly housed price, CaseShiller home price, consumer confidence, Richmond Fed mfg index.
After speeches by some Fed officials this morning, more are due to speak later in the day, see our EI page for details.
AceTraderFx Nov 29: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
29 Nov 2017 03:20GMT
EUR/USD - 1.1849… The euro is nursing losses in subdued Asian morning after tumbling to from yesterday’s 1.1920 (Europe) high to as low as 1.1828 due to active cross-selling in euro esp. vs sterling.
Despite intra-day brief bounce to 1.1920 in European morning on Tuesday, the pair then ratcheted lower to 1.1875. Intra-day decline resumed in New York morning and accelerated on active selling in eur/gbp cross following media reports an agreement on Brexit divorce bill was reached between Britain and the EU, price tanked to 1.1828 in New York afternoon before rising back to 1.1853 in Asia on short covering.
Although range trading above 1.1828 is expected ahead of European open, offers noted at 1.1860/70 are likely to cap intra-day bounce and market may well test euro’s downside in Europe as the Brexit news came after European close.
Bids are noted at 1.1830-20 with stops touted below 1.1800.
France will kick off release of eco. data with consumer spending n Q3 GDP, the EU will release bus, eco., industrial and services sentiment indexes and Germany will release key inflation data.
ECB’s Constancio will speak 10:00GMT, then Bundesbank President n ECB Board member Weidmann will speak at 17:00GMT and finally ECB’s Knot at 18:30GMT.
AceTraderFx Dec 01: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
01 Dec 2017 03:20GMT
USD/JPY - 112.50… Dlr pares yesterday’s gain in choppy Asian trading after climbing to a 9-day high at 112.63 in roller-coaster New York session.
Although the greenback continued this week’s ascent and rose to 112.48 in European morning, price retreated in New York morning after in-line U.S. PCE data and briefly tumbled to 111.74 on New York Times report that the White House has plan to replace Secretary of State Tillerson with CIA director Pompeo within weeks, price quickly erased intra-day losses and jumped on the back of strong rise in U.S. Treasury yields (benchmark 10-year yields hit 1-month high of 2.4370%), the pair later climbed to 112.63, then 112.70 in Australia before retreating to 112.32 on news U.S. Senate will not vote on Republican tax bill Thursday night and debate to continue on Friday at 11am EDT (16:00GMT).
Range trading below 112.70 is now expected until European open n buying dlr on dips is still cautiously favoured (but do keep an eye on U.S. yields).
Bids are noted at 112.35-30 with stops below 132.15, more stops are reported below 111.70.
Offers are tipped at 112.70/75 with stops above there.
U.S. will release Markit mfg PMI, construction spending n ISM mfg PMI.
Pay attention to speeches by several Fed officials starting with Fed’s Bullard, Fed’s Kaplan and Fed’s Harker.
AceTraderFx Dec 04: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
04 Dec 2017 03:40GMT
EUR/USD - 1.1874… Euro moved relatively narrowly in Asian morning after opening lower to 1.1851 in New Zealand following a roller-coaster ride in hectic Friday’s session.
Despite initial weakness to 1.1851 on broad-based usd’s gain due to market optimism of U.S. tax reform, buying interest above Friday’s 1.1845 (New York) low contained intra-day weakness and the pair then inched higher to 1.1875 on lack of follow-through selling as Asian traders are on the sideline and are awaiting reaction on Saturday’s U.S. approval of the tax overhaul from European counterparts.
Offers are tipped at 1.1885/95 with some stops above 1.1900, more stops are reported above 1.1840.
Bids are noted at 1.1855-45 with stops below 1.1840.
Euro zone will release Sentix investor confidence a n PPI at 09:30GMT.
Eurogroup will begin a meeting at 12:00GMT where ECB President Draghi and Board member Couere will also participate.