AceTraderFx Feb 25: Intra-Day Market Moving News and Views (EUR/USD)

Trading Discussion Currencies
43

[B]Intra-day Market Moving News and Views
10 Jul 2015[/B] [I]06:53GMT[/I]

[B]EUR/USD [/B]- ....... The single currency continued to strengthen in Asia on Friday on hopes that a deal will be reached between Greece and its creditors before the end of the weekend.

Price eventually rose to a fresh 1-week high of 1.1134 ahead of European open after triggering stops located above 1.1120 before easing.

In European morning, data from INSEE showed French industrial production rose 0.4% in May, while a separate report indicated French trade surplus in May narrowed to 0.3 bln euros from 0.4 bln euros in previous month.

At the moment, fresh bids from various accounts are building up in 1.1070-50 region with stops below 1.1030 whilst offers are tipped at 1.1140-1.1150 with stop just above there.

44

[B]Intra-day Market Moving News and Views
13 Jul 2015[/B] [I]07:16GMT [/I]

[B]EUR/USD[/B] - ...... Positive news from EU's Dijsselbloem:

‘Greek parliament will very quickly legislate on some issues, bringing back trust, while Greek proposals must be strengthened in product mkts, labor mkts.
Fund will also contribute to recapitalisation of banks with 25 bln euros to be used to recapitalise Greek banks.
Greek parliament will agree total package by Wednesday and first prior actions. EU could have call Wednesday, followed by national parliaments’ approval, and once parliamentary approvals done, EU will give formal launch to bailout negotiation.’

Also EU’s Juncker comment 'there will be no Grexit and we are satisfied with the result we have found.'
The other EU’s leader Tusk confirms ‘leaders have agreed in principle they are ready to start on bailout programme. Green and other national parliaments must agree before negotiations can begin, and there will be strict conditions while FinMins will urgently disucss bridge finance.’

45

[B]Intra-day Market Moving News and Views
15 Jul 2015 [/B] [I]07:43GMT[/I]

[B]EUR/USD[/B] - ...... Despite euro's brief drop to 1.0987 ahead of European open, price rebounded to 1.1027 in European morning and then chopped sideways inside 1.0987-1.1027 among the headlines about the Greece's debt crisis.

Further choppy trading around the 1.10 level is envisaged as investors await the decision of Greek parliament on whether to approve the tough austerity measures required in order for Athens to get its 3rd bailout package.

At present, bids are noted at 1.0980-70 with stops below 1.0960 whilst some offers are tipped at 1.1030-40 and more above with stop touted above 1.1085.

46

[B]Intra-day Market Moving News and Views
16 Jul 2015[/B] [I]08:01GMT[/I]

[B]EUR/USD [/B]- ...... Although euro staged a bounce from 1.0911 ahead of European open, price retreated after meeting renewed selling at 1.0949 and then tanked to a fresh 1-1/2 month trough at 1.0896 before recovering.

Looks like consolidation with downside bias would be seen in early European trading but sharp fall below 1.0900 level is not likely to be seen as investors are awaiting the release of euro zone’s inflation data at 09:00GMT and the announcement of ECB’s monetary policy decision at 11:45GMT and then Draghi’s press conference at 12:30GMT.

At the moment, offers from various accounts are noted at 1.0920-30 adn more around 1.0940-50 with mixture of offers and stops at 1.0970/75.
On the downside, bids are reported at 1.0880-1.0870 and then 1.0860/55 stops building just below 1.0850.

47

[B]Intra-day Market Moving News and Views
17 Jul 2015[/B] [I]07:47GMT[/I]

[B]EUR/USD [/B]- ...... Although the single currency ratcheted higher after meeting renewed buying at 1.0873 in Australia and then climbed to 1.0904 in Asian morning, price edged lower ahead of European open due to cross-selling in EURO vs YEN and GBP.

Later, buying interest from European traders together with unwinding in euro-crosses lifted price to a fresh session high of 1.0907 before retreating.

As mentioned previously, EURO is likely to move sideways while the positive developments in the Greek Debt crisis are still in focus.
At the moment, offers are noted at 1.0920-30 and more above with stop touted above 1.0950, whilst bids are reported in 1.0860-40 region with stops below 1.0810.

48

[B]Intra-Day Market Moving News
21 Jul 2015 [/B] [I]07:14GMT[/I]

[B]EUR/USD[/B] - ..... Although euro came under renewed selling pressure after meeting selling at 1.0835 in Asia, buying interest above Monday's fresh near 3-month low at 1.0808 lifted price from 1.0812 and the single currency then staged a bounce to 1.0834 in European morning.

The quite market condition due to the absence of economic events or economic reports in today’s early European session suggests further choppy sideways trading is likely to be seen ahead of NY open.
However, selling the single currency against the greenback on intra-day recovery is the favourable strategy.

As previously mentioned, offers are touted at 1.0835-40 and more above with mixture of offers and stops above 1.0870, whilst bids are reported at 1.0805/00 with some stops below there.

49

[B]Intra-Day Market Moving News
22 Jul 2015[/B] [I]07:34GMT[/I]

[B]EUR/USD[/B] - ....... Although euro rebounded after meeting renewed buying interest at 1.0924 in Asia and then climbed to 1.0967 shortly after European open, price retreated afterwards as some investors decide to take profit ahead of Greek lawmakers' second vote on bailout reforms.

At present, bids from various accounts are touted around 1.0920-10 and then 1.0900-1.0890, whilst offers are located at 1.0960-70 with mixture of offers and stops at 1.0980-90.

Earlier in European morning, INSEE showed French business confidence rose more-than-expected in the last quarter. INSEE said that French business confidence rose to an annual rate of 102, from 100 in the preceding quarter.

50

[B]Intra-Day Market Moving News
23 Jul 2015[/B] [I]08:03GMT[/I]

[B]EUR/USD -[/B] ...... Although euro retreated after meeting renewed selling at 1.0956 in Asia and then briefly dropped to 1.0923 in European morning, buying interest from European traders lifted price from there and euro surged to as high as 1.1103 after triggering stops located above Tuesday's high of 1.0969 before easing.

At the moment, bids are reported at 1.0960-50 with mixture of bids and stops at 1.0940-30 whilst offers are tipped at 1.1010/15 and more above with stop touted above 1.1035.

51

[B]Intra-Day Market Moving News
24 Jul 2015 [/B] [I]07:12GMT[/I]

[B]EUR/USD[/B] - 1.0973... Although euro rebounded after retreating from 1.0994 to 1.0964 in Asia and then briefly rose to 1.0997 in European morning, renewed selling interest emerged after release of downbeat France's PMIs n knocked price lower.

On Thursday, Markit Economics showed that French manufacturing PMI fell unexpectedly to a seasonally adjusted 49.6, from 50.7 in the preceding month, whilst French Services PMI also fell more than expected to a seasonally adjusted 52.0, from 54.1 in the preceding month.

At the moment, offers are reported at 1.1000-10 n more above with stop touted above 1.1030.
On the downside, bids are noted in 1.0960-40 region with stops below 1.0920.

52

[B]Intra-day Market Moving News and Views
28 Jul 2015[/B] [I]07:10GMT[/I]

[B]EUR/USD[/B] - ..... In stark contrast to yesterday's biddish tone ahead of European open following Mon's rally to a near 2-week high of 1.1129, the single currency continues to ratchet lower at European open as the release of downbeat German sentix investors expectations gave short-term specs an excuse to sell the euro.

Some light stops below 1.1070 were tripped, price hits an intra-day low of 1.1052.
However, more bids are touted at 1.1055-50 and as long as this level (also NY low - 1.1050) holds, another move to 1.1220/30 is likely.
So buying euro on dips is still favoured after yesterday’s rally and on the downside, some more stops are reported below 1.1020.

53

[B]Intra-day Market Moving News and Views
29 Jul 2015[/B] [I]07:38GMT[/I]

[B]EUR/USD [/B]- ...... Although euro climbed higher after meeting renewed buying interest at 1.1058 in Australia, offers at 1.1080-90 capped intra-day gain at 1.1084 in Asia and the single currency later ratcheted lower to a low of 1.1030 in European morning due to speculation of a 'hawkish' Fed statement later today.

Earlier in European session, the research group Gfk showed that its index of Germany’s consumer climate remained unchanged at 10.1 in August, from 10.1 in the preceding month. Later, a separate report from INSEE said that French consumer confidence fell to 93 in July, from 94 in the preceding month.

At present, offers are tipped at 1.1050-60 with mixture of offers and stops at 1.1070-80.
On the downside, mixture of bids and stops are reported at 1.1020-10, however, more buying interest is touted at 1.1000-1.0980 area.

54

[B]Intra-day Market Moving News and Views
31 Jul 2015[/B] [I]08:06GMT[/I]

[B]EUR/USD[/B] - ...... Although investors shrugged off the release of unexpectedly fall in Germany's retail sales last month and lifted price from 1.0928 to 1.0967 shortly after European morning, renewed selling interest quickly emerged there and knocked price lower to 1.0921 before recovering.

At present, investors are awaiting to the release of euro zone’s inflation and unemployment, Italy’s inflation reports and producer prices at 09:00GMT.
Bids are noted 1.0910/05 with mixture of bids and stop at 1.0900-1.0890 and around 1.0870.
On the upside, offers from various accounts are touted at 1.0970-80 and more at 1.0990-00 with stops building up above 1.1000.

55

[B]Intra-day Market Moving News and Views
04 Aug 2015[/B] [I]08:14GMT[/I]

[B]EUR/USD[/B] - ..... Euro rebounded after an initial fall to 1.0932 in Asia due to renewed cross-buying interest and price ratcheted higher to 1.0979 in European morning before easing.

At present, investors are awaiting the release of euro zone’s producer prices for June at 09:00GMT. Street forecasts are 0.0% m/m and -2.2% y/y vs previous readings of 0.0% and -2.0% respectively.

For now, offers are noted in 1.0990-1.1000 with stops reported just above there, whilst bids are noted at 1.0950-1.0940 and more below with stops touted below 1.0920.

56

[B]Intra-day Market Moving News and Views
11 Aug 2015[/B] [I]08:33GMT[/I]

[B]EUR/USD[/B] - ...... Although euro retreated from 1.1032 in Asia due to the surprise China's devaluation in yuan, buying interest emerged at 1.0960 ahead of European n euro later surged above yesterday's New York high of 1.1042 to 1.1049 in European morning before easing.

At European open, a report from Destatis showed Germany’s wholesale price index rose less-than-expected last month. Germany’s wholesale price index rose to 0.1% in July, from -0.2% in the preceding month.

At present, bids from various accounts are reported at 1.1000 and more around 1.0980 with stops touted below 1.0960.
On the upside, offers are tipped at 1.1060-70 and more above with stops reported above 1.1080.
However, as mentioned previously, some large stops are touted above 1.1130/40.

57

[B]Intra-day Market Moving News and Views
13 Aug 2015[/B] [I]09:00GMT[/I]

[B]EUR/USD[/B] - .... Despite euro's brief jump to 1.1189 in Asia after PBOC devaluate the yuan for the 3rd consecutive day, price came under renewed selling pressure as market bought back the buck.

Euro later fell to 1.1132 at Asian midday and then 1.1107 in European morning before recovering.

At present, offers are noted at 1.1140-50 and more above with stops touted above 1.1170.
On the downside, bids are noted at 1.1100-1.1090 and more below with stops below 1.1080.

58

[B]Intra-day Market Moving News and Views
24 Aug 2015[/B] [I]00:45GMT[/I]

[B]EUR/USD[/B] - .... Euro pares Friday's spectacular gain after rallying from 1.1241 (Europe) to as high as 1.1389 near NY close as sell-off in global stocks (Dow suffered its largest 1-day decline in nearly 4 years n closed near the day's low) had prompted more unwinding of previously established short euro positions.

The single currency climbed marginally to a 2-month high of 1.1395 as intra-day cross-inspired selloff in dlr/yen n commodity currencies sparked off a fresh round of USD’s broad-based weakness.
However, lack of follow-through buying quickly pushed price lower to 1.1370 at Asian open.

As euro was the strongest ccy vs its G7 peers on Friday, this tend is expected to continue in Monday trading, so buying the pair on intra-day retreat in anticipation of a resumption of recent up-move is the way to go. Buying interest is noted at 1.1360-50 and more below with stops touted below 1.1300, some offers are tipped at 1.1390/00.

The only economic releases are Germany Jul import price index and industrial production at 06:00GMT.
So best to pay attention to performance of Asian & European bourses as further weakness (2% plus) is likely to trigger more euro buying.

[B]Data to be released this week:[/B]

Japan leading indicators, and Germany import price on Monday. In addition, Federal Reserve Bank of Atlanta President Dennis Lockhart will speak on “Pensions and Economy” before the 2015 Public Pension Funding Forum co-hosted by the National Conference On Public Employee Retirement System.

Germany GDP, Ifo reports, UK BBA mortgage approvals, U.S. existing home sales, consumer confidence, new home sales and Redbook on Tuesday.

New Zealand trade balance, Australia CB leading indicator, UK nationwide house prices, CBI distributive trades, and U.S. durable goods orders on Wednesday.

Australia building capex, capital expenditure, France business climate, Switzerland industrial orders, and U.S. pending home sales on Thursday.

UK Gfk consumer confidence, Japan all household spending, CPI, retail sales, Switzerland GDP, France producer prices, Italy business confidence, consumer confidence, U.K. GDP (second release), Italy wage inflation, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, Germany CPI, HICP, Canada producer prices, and U.S. consumption, PCE, personal income, personal consumption, on Friday.

59

[B]Intra-day Market Moving News and Views
25 Aug 2015[/B] [I]07:18GMT[/I]

[B]EUR/USD[/B] - ......Despite edging lower to 1.1525 in Asian morning on profit-taking, the single currency rebounded to 1.1578 at European open as European futures pointed to a rebound in stocks after yesterday's rout.

Euro showed muted reaction to the release of in-line German GDP figures and investor focus is now on the release of German Ifo data at 08:00GMT.

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 1.1610/20, suggesting mild upside bias remains.

60

[B]Intra-day Market Moving News and Views
14 Sep 2015 [/B] [I]09:14GMT[/I]

[B]EUR/USD [/B]- ...... Although euro gained support after European open and rose above Asian high of 1.1359 to 1.1373, lack of follow-through buying prompted profit taking and price retreated to 1.1330/31, despite release of better-than-expected euro zone industrial production.

Eurostat said on Monday that euro zone industrial production rose to a seasonally adjusted 0.6% in July, from -0.3% in the preceding month whose figure was revised up from -0.4%.

At present, offers are noted at 1.1340-50 and more at 1.1365/70 with mixture of offers and stops at 1.1390-00.
On the downside, bids are reported at 1.1310-00 and then around 1.1280 with stops just below 1.1260.

61

[B]Intra-day Market Moving News and Views
25 Sep 2015[/B] [I]01:35GMT[/I]

[B]EUR/USD [/B]- .... Euro is currently not far from where it was trading at 24 hours ago but price swung wildly in hectic Thursday's session.

Although short-term specs sold euro initial in Asia yesterday, renewed buying a 1.1165 contained weakness and price ratcheted higher to 1.1223 in European morning before moving higher at European midday as surprised rate cut by Norwegian central bank triggered broad-based euro buying (vs gbp esp.).
Intra-day rise accelerated after 1.1223 res was penetrated, price rallied to as high as 1.1296 in New York morning before seller returned and price fell ahead of Euroepan close, falling to 1.1216 and despite a minor recovery, euro tumbled to 1.1160 after Fed chair Yellen’s hawkish comments.

Yesterday’s selloff from 1.1296 suggests correction from this week’s 1.1105 (Wed) low has ended and selling on intra-day recovery is the way to go. Offers are tipped at 1.1190/00 n more above with some stops above 1.1235. Initial bids are noted at 1.1160-50 and more below with a mixture of bids and stops at 1.1105/00.

France will release consumer confidence at 06:45GMT, then Bundesbank President and ECB Governing Council Board member Jens Weidmann is due to speak at 07:00GMT, and at 08:00GMT, Italy will release wage inflation data.

62

[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 06 Oct 2015[/B] [I]08:14 GMT[/I]

[B]USD/JPY - 120.25[/B]
Despite Friday’s swift selloff from 120.41 to 118.68 after the release of disappointing U.S. jobs report, subsequent strong rebound due to the rally in Dow Jones suggests further choppy trading above September’s low at 118.60 would continue with mild upside bias and above 120.41 would yield stronger gain to 120.66/70.
However, near term loss of momentum would keep price below resistance at 120.99.

On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.