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

Trading Discussion Currencies
125

Intra-Day Market Moving News and Views
22 Feb 2016 05:08 GMT

EUR/USD - ...... Despite staging a modest rebound from Friday's 2-week low of 1.1067 to 1.1138 in New York session, intra-day selloff in the pound dragged euro lower, price retreated to 1.1104 in Asian morning before edging higher.

Order book is pretty thin on this Asian morning with some bids noted at 1.1100-1.1090 n more below with stops touted below 1.1060. Offers are tipped at 1.1130/40 with some stops above there, however, more selling interest is reported at 1.1150/60.

Expect range trading above 1.1067 to continue as market awaits release of a slew of mfg & services PMIs to come with France’s PMIs at 08:00GMT, Germany’s at 08:30GMT, Italy’s & EU’s at 09:00GMT. Germany’s Bundesbank will also release its month report at 11:00GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

126

Intra-Day Market Moving News and Views EUR/USD
24 Feb 2016 02:30GMT

EUR/USD - .....Earlier Reuters reported that the International Monetary Fund is making a big demand on Greece in the pension reform which required to complete its first bailout review.

Negotiations between the heads of the EU/IMF mission reviewing progress on Greece’s pensions overhaul, fiscal targets and the handling of bad loans, took a break earlier this month.
It is unclear when the lenders will return to Athens and whether the latest impasse can be broken.

Greece finance minister Euclid Tsakalotos said that the IMF is pushing them far too much. It’s not socially sensitive, and is asking them to do more than they had agreed in the summer.
Under a third bailout of up to 86 billion euros ($95 billion) signed last summer, Greece was asked to cut pension spending by 1 percent of gross domestic product this year. Athens has refused to cut pensions and says it will increase social security contributions instead.

But IMF’s director for Europe, Poul Thomsen, has said that Greece will need to implement extra measures worth about 9 billion euros to meet its fiscal targets by 2018 and that the Fund could not see how Athens could do so without major savings on pensions.

Without the lenders’ acknowledgement of the reforms, the government cannot start relief talks it needs to show austerity-weary Greeks their sacrifices are paying off.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

127

Intra-Day Market Moving News and Views
01 Mar 2016 03:37GMT

[B]EUR/USD[/B] - .... Euro pares yesterday's loss in Asia after falling sharply in European morning following release of weak EZ inflation data, price penetrated Fri's 1.0912 low to a fresh 3-week bottom of 1.0859 in New York morning, however, downbeat U.S. data triggered minor short-covering rebound to 1.0892.

Looks like sideways trading above said yesterday’s low would continue until European open.
Today is ‘PMI’ day with Italy releasing manufacturing PMI, then France, Germany n EZ.

Offers are tipped at 1.0990/00 with stops touted above 1.0920.
Initial bids are noted at 1.0865-65 with stops below 1.0840.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

128

Intra-Day Market Moving News and Views
07 Mar 2016 03:04GMT

[B]EUR/USD[/B] - ...... Euro trades narrowly with a soft bias in subdued Asian morning after Fri's intra-day rally from post-NFP New York morning at 1.0904 to as high as 1.1044.

Price has edged lower in NZ and Australia on Monday due to lack of follow-through buying, suggesting sideways trading below said Friday’s 1.1044 temp. top would continue.
Some bids are noted at 1.0970-60 with stops touted below 1.0950, however, more stops are reported below 1.0900.
On the upside, some offers are tipped at 1.1000/10 and more above with stops above 1.1045.

Pay attention to release of a slew of European data with Germany kicking off with Jan factory orders at 07:00GMT, then Italy’s PPI and later EU Sentix Mar investor confidence index.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

129

Intra-Day Market Moving News and Views
07 Mar 2016 09:43GMT

EUR/USD - ...... Although the single currency opened slightly lower in NZ today and traded in sideways fashion throughout Asia, price met renewed selling at 1.0994 ahead of European open and dropped sharply to 1.0944 in early European morning on cross-selling in EUR especially vs YEN.

German factory orders fell less-than-expected last month, official data showed on Monday.
German factory orders fell to a seasonally adjusted -0.1%, from -0.2% in the preceding month whose figure was revised up from -0.7%.

Bids are now lowered to 1.0940/50 and more below at 1.0920/30 with stops building up below there whilst initial offers are noted at 1.1010/20, suggesting further choppy trading wud be seen.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

130

ECB is expected to cut its deposit rate deeper into negative territory

Intra-Day Market Moving News and Views
10 Mar 2016 01:40GMT

[B]EUR/USD[/B] - ..... Euro pares yesterday's rally from 1.0946 to 1.1035 in Asia SS market remains nervous ahead of today's ECB meeting. ECB is set to unveil its second stimulus ****tail in three months on Thursday, spurred by fears that low energy costs are feeding into wages and prices, potentially perpetuating ultra-low inflation.

The euro zone’s central bank is widely expected to cut its deposit rate deeper into negative territory and adjust its 1.5 trillion euro asset-buying scheme, hoping to boost prices after inflation dipped back into negative territory last month.

The ECB has little to show for the 700 billion euros it has spent buying government bonds and other assets in the past year, as tumbling raw materials prices blunt the impact of its quantitative easing. That raises the risk that people will lose faith in the bank’s commitment to its mandate, dragging down long-term price expectations.
Inflation has been below the ECB’s nearly 2 percent target for three years and is likely to remain so for many more.

Draghi has already said that acting too soon is better than acting too late, and that the rate meeting needs to recognise that the outlook for growth and inflation have deteriorated. But with policy already deep in unconventional territory, the ECB has few big guns left and most remaining options risk either negative side effects or potential legal challenges, suggesting the Governing Council will opt for a package of modest measures.

Analysts polled expect the ECB to cut its deposit rate to -0.4 percent from -0.3 percent, charging banks more for keeping their cash with the bank overnight. They also see a 60 percent chance the ECB will raise its monthly asset purchases, probably by 10 billion euros to 70 billion euros a month.
It could also firm up its forward guidance, drop a self-imposed limit not to buy assets yielding less than its deposit rate and launch a new targeted longer-term refinancing operation, possibly at a negative rate, to help boost lending, growth and eventually inflation.

But more radical ideas, like an even deeper rate cut, a multi-tier deposit rate, or buying non-performing bank loans, are unlikely to gain traction within the diverse 25-member Governing Council that has shunned radical steps in several earlier tweaks of its asset-buying programme.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

131

Intra-Day Market Moving News and Views (USD/EUR)
11 Mar 2016 03:02GMT

[B]EUR/USD[/B] - ..... Euro trades relatively with a firm undertone after yesterday's 'spectacular' rally from 1.0821 (interbank low) to as high as 1.1218. Although the single currency tanked from 1.0990 top a fresh 1-month trough of 1.0821 after ECB cut interest rate n expanded its bond purchase programme as expected, short-covering quickly lifted the pair to 1.1116 and intra-day rally continued after ECB's Draghi said rate cuts are done for now at the Q&A press conference, price later climbed to as high as 1.1218 after tripping a series of stops on the way up.

Despite intra-day firmness, yesterday’s 1.1218 high is likely to hold until European open as Asia traders are reluctant to take the pair higher as profit-taking offers by U.S. & European traders should prevent strong gain.
Offers are tipped at 1.1210/20 with some stops above there, some bids are noted at 1.1160-50 with some stops touted below there.

Germany will release final inflation data at 07:00GMT followed by Italy’s industrial production at 09:00GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

132

Intra-Day Market Moving News and Views (USD/EUR)
14 Mar 2016 04:03GMT

[B]EUR/USD -[/B] ..... Euro opened lower on news of defeats in election results by the ruling CDU party on Sunday. Reuters reported Chancellor Angela Merkel's conservatives lost in two out of three state elections on Sunday as Germans punished her accommodative refugee policy with a big vote for the anti-immigration Alternative for Germany (AfD), exit polls showed.

The pair fell to 1.1135 before renewed buying emerged n later lifted price to 1.1176 ahead of Asian open, however, euro moved sideways in Asian trading as traders await reaction from European players when they come in, therefore, sideways swings are expected to continue.
Offers are tipped at 1.1180/90 with stops above 1.1200, more stops are reported above last week’s high at 1.1218.
Initial bids are noted at 1.1235-25 with some stops below 1.1220, more stops are touted below Friday’s 1.1080 low.

The only economic data due out today is EZ industrial production, January’s M/M is expected to come in at -0.1% vs previous reading of -1.3%.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

133

Intra-Day Market Moving News and Views (USD/EUR)
18 Mar 2016 08:40GMT

EUR/USD - ....... Although the single currency briefly edged up to 1.1337 in Asian morning, price dropped sharply to 1.1275 at European open as ECB's Praet hinted that ECB cud cut its rates further and continues to remain under pressure.

Germany’s producer price index fell more-than-expected last month.
In a report, Destatis said that German Producer Price Inflation fell to a seasonally adjusted annual rate of -0.5%, from -0.7% in the preceding month.

Offers are now seen at 1.1290/00 and more above at 1.1310/20 with stops building up above there whilst initial bids are noted at 1.1220/30, suggesting selling on pullback is favored.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

134

Intra-Day Market Moving News and Views (USD/EUR)
21 Mar 2016 09:13GMT

EUR/USD - … Despite opening slightly lower in New Zealand, the single currency rebounded to 1.1285 in Asian morning on cross-buying in eur/gbp.
However, renewed selling there pressured the pair lower and price dropped sharply to session low at 1.1236 in early European morning and continues to remain under pressure.

Bids are now lowered to 1.1220/30 and more below at 1.1200/10 with stops building up below there whilst initial offers are noted at 1.1270/80, suggesting further choppy trading would be seen.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

135

Intra-Day Market Moving News and Views (USD/EUR)
24 Mar 2016 04:07GMT

EUR/USD - 1.1170.. Euro is nursing loss in Asian morning after falling for 4 consecutive days to 1.1159 in New York on Wednesday in the aftermath of Tuesday's bombing attacks in Brussels.

The lack of a rebound suggests intra-day downside bias remains as offers are tipped at 1.1190/00 and more above with stops reported above 1.1240.
Some bids are noted at 1.1160 with stops touted below 1.1150.

Ahead of the long Easter holiday in Europe, there is a slew of economic data due out in European morning with Germany’s April Gfk consumer sentiment, France’s business climate, Italy’s industrial orders and retail sales .

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

136

2016 Investment. Long EUR.USD @1.116
Draghi is stimulating European Corporate Bonds. There will be a net positive Foreign capital inflow into European Union stimulating the strength of EUR.USD.
Target: 1.30 by end of 2017.
Will add more long once 1.17 becomes support at end of 2016 and deflation fighting policies stay intact.

Position will close upon EU Central Banks removing deflation fighting policies and ending QE.

See ya’ll at end of 2017.

137

Intra-Day Market Moving News and Views
29 Mar 2016 02:23GMT

EUR/USD - ...... Euro edges lower in Asian morning after yesterday's intra-day rally following release of soft U.S. inflation data, price jumped above 1.1176 res immediately after the data, tripping stops above there and euro then climbed to 1.1220 before paring intra-day gain on upbeat U.S. pending home sales report.

Current softness suggests consolidation below said Monday’s 1.1220 top would be seen, however, as yesterday’s rally signals recent decline has made a temporary low last week at 1.1144 (Thursday), buying interest near 1.1176 is expected to contain weakness and bring another rebound later today.

Offers are tipped at 1.1210/20 with stops above there, more selling interest is reported at 1.1240/50.
Bids are noted at 1.1180-70 and more below with stops touted below 1.1140.

The only economic data coming from Europe today is Italy’s business and consumer confidence indices, so all eyes are on U.S. data n Fed Chair Yellen’s speech later today.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

138

Intra-Day Market Moving News and Views
30 Mar 2016 02:25GMT

[B]EUR/USD[/B] - ...... The single currency rebounded after meeting renewed buying interest at 1.1169 in Europe on Tuesday and then later rallied to as high as 1.1303 in New York afternoon as Fed's chair Janet Yellen dragged down the U.S. dollar by strongly emphasizing that the Federal Reserve should proceed cautiously in normalizing its current monetary policy cycle.

Later, euro eased to 1.1283 before moving sideways.

Today, investors should pay attention to the release of a slew of economic reports from euro zone in European session, these include business climate, economic sentiment, industrial sentiment, service sentiment, and consumer confidence.
In addition, Germany will release its inflation data for March at 12:00GMT.

At the moment, bids are noted at 1.1270-60 and then in the region of 1.1250-1.1230 with stops below 1.1220.
On the upside, offers are reported at 1.1310-20 and more around 1.1330 with stops just above 1.1340.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

139

Intra-Day Market Moving News and Views
01 Apr 2016 02:19GMT

[B]EUR/USD [/B]- ...... Although euro continued its recent winning streak n rose to a fresh 4-1/2 month peak at 1.1412 in New York morning after data showed that inflation in euro zone improved in March, release of upbeat U.S. Chicago PMI knocked price down to 1.1375 later in New York session.

Euro retreated again after a brief gain to 1.1389 at Asian open and edged lower to 1.1373.

Today’s focus for the single currency will be on the release of a slew of Manufacturing PMIs from Markit, a leading market research company, for euro zone n its member countries in European morning, theses includes Switzerland, France, Italy and Germany.
In addition, euro zone will release its unemployment rate for February at 09:00GMT.

At present, bids are reported at 1.1350-40 and then 1.1320-00 area with stops below there.
On the upside offers are noted at 1.1380-90 and then near 1.1400 with stops building above 1.1420.

Data to be released on Friday:

Australia AIG manufacturing index, Japan Tankan big manufacturing index, Tankan big non-manufacturing index, Tankan large all industry Capex, Tankan small manufacturing index, Tankan small non-manufacturing index, Tankan small all industry Capex, manufacturing PMI, China non-manufacturing PMI, manufacturing PMI, Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, France Markit manufacturing PMI, Germany Markit manufacturing PMI, Eurozone Markit manufacturing PMI, unemployment rate, U.K. Markit manufacturing PMI, U.S. non-farm payrolls, unemployment rate, private payrolls, manufacturing payrolls, average earnings, participation rate, manufacturing PMI, construction spending, Reuters/University of Michigan consumer sentiment index and Canada RBC manufacturing PMI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

140

Intra-Day Market Moving News and Views
01 Apr 2016 09:16GMT

[B]EUR/USD[/B] - ..... The single currency trades with a firm undertone as early release of upbeat German & EZ mfg PMIs prompted another wave of broad-based euro buying (eur/gbp climbed to fresh 14-month peak of 0.7965), suggesting re-test of yesterday's 5-month high at 1.1412 (New York) is on the cards where buy stops are reported above there.

Therefore, trading euro from the long side is recommended, however, do exit long positions ahead of key U.S. payrolls is recommended as the NFP had clocked up well above 225k in last 4 out of 5 months.
Another robust number (230K plus) may knock euro briefly to 1.1360/70 before buyers emerge.

For now, bids have been raised to 1.1390-80 and more below with stops below 1.1360. Offers are tipped at 1.4410/15 with stops above there.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

141

Intra-Day Market Moving News and Views
05 Apr 2016 03:01GMT

EUR/USD - ....... The single currency gained support at 1.1385 ahead of Asian open on Tuesday and climbed above 1.1400 level again, helped by the intra-day weakness in the greenback vs yen.

Apart from the the release of Markit’s service PMI readings for Italy, France, Germany and euro zone in European morning today, investors should also pay attention to the release of Germany factory orders n euro zone’s retail sales at 06:00GMT and 09:00GMT respectively.

At the moment, bids are reported at 1.1380-70 n then 1.1360-50 with stops below there.
On the upside, offers are noted at 1.1410-20 and more ahead of last Friday’s 5-month peak at 1.1438 with stops located above 1.1450.

Data to be released on Tuesday:

New Zealand business confidence, Australia AIG service index, imports, exports, trade balance RBA interest rate decision, Germany factory orders, Markit service PMI, Italy Markit service PMI, France Markit service PMI, Eurozone Markit service PMI, retail sales, U.K. Markit service PMI, retail sales, U.S. trade balance, Redbook, Markit service PMI, ISM non-manufacturing PMI, jobs opening, economic optimism, Canada imports, exports and trade balance.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

142

Intra-Day Market Moving News and Views
07 Apr 2016 02:18GMT

EUR/USD - ....... Euro pared all its early intra-day losses in New York session and rallied from 1.1327 (Europe) to as high as 1.1433 at New York midday.

Later, price retreated to 1.1392 after release of FOMC minutes before staging a bounce to 1.4144 in Asian morning on Thursday.

Today, investors should pay attention to speeches from several ECB’s officials during the European session, these include Peter Praet, Benoit Cœuré, Ignazio Visco, and Vitor Constancio.

At present, bids are noted at 1.1390-80 and 1.1370-60 with stops below 1.1350, whilst on the upside, offers are reported at 1.1420-30 and then 1.1440-50 with stops above there.

Data to be released on Thursday:

Australia AIG construction index, France exports, imports, trade balance, current account, U.S. initial jobless claims and Canada building permits.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

143

Intra-Day Market Moving News and Views
11 Apr 2016 01:52GMT

EUR/USD - ...... The single currency extended Fri's intra-day erratic upmove from 1.1349 at Monday's New Zealand open and briefly breach of 1.1419 (New York) to 1.1420 before easing to 1.1395 shortly after Asian open.

Although eur/usd pair may yield marginal gain in Asia after consolidation, subdued market condition due to the absence of economic events from euro zone today and recent weakness in euro’s crosses suggests further choppy trading below last Thursday’s 5-1/2 month peak at 1.1454 would continue and therefore, trading euro in anticipation for another fall towards 1.1338 (reaction low from 1.1454) is recommended.

At present, offers are reported at 1.1420-30 an more at 1.1440-50 with stops abv 1.1460, whilst bids are noted at 1.1380-70 n then 1.1360-50 with stops below 1.1340.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

144

Intra-Day Market Moving News and Views
13 Apr 2016 01:18GMT

EUR/USD - ....... The single currency went through a 'roller-coaster' session on Tuesday as despite an initial rally above last week's top at 1.1454 to a fresh 5-1/2 month peak at 1.1465 in Europe, price tumbled to as low as 1.1346 in New York morning on long-liquidation before staging a recovery to 1.1401.

Euro moved sideways inside a tight range of 1.1372-1.1401 in New York afternoon as well as in early Asian session.

Today in European morning, France will release its latest inflation readings, whilst euro zone will release its industrial production data for Feb. Market expects the industrial production in euro zone to be -0.7% in Feb compare to +2.0% in preceding month.

At the moment, offers are noted at 1.1400-10 and more at 1.1420-30 with stops above 1.1440.
On the downside, bids are reported at 1.1350-40 and then 1.1320-10 with stops below 1.1300.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates