Intra-Day Market Moving News and Views
15 Apr 2016 02:00GMT
EUR/USD - ....... Although the single currency came under selling pressure at 1.1284 ahead of Asian open on Thursday and fell to 1.1254, then 1.1234 shortly after European open, short-covering lifted the pair, price rose to 1.1295 in New York before moving sideways.
Later, price tanked to 1.1248 in New York morning after release of better-than-expected U.S. initial jobless claims and then moved sideways for rest of the session.
Today, despite intra-day’s gain in the greenback in Asian morning, cross-buying in euro vs yen suggests choppy sideways move above yesterday’s low at 1.1234 would continue ahead of European open and therefore, investors can look to trade euro from both sides of the market in Asian session.
In European morning, Germany will release its Wholesale Price Index for Mar at 06:00GMT, whilst Italy will release its latest trade data at 08:00GMT, other than that, focus of the market will be on the ‘2016 Spring Meetings of the International Monetary Fund and the World Bank Group (to April 17)’ n G20 Press conference at IMF headquarters.
At the moment, bids are noted at 1.1250-40 and then 1.1230-20 with mixture of bids and stops at 1.1210-1.1190 region. On the upside, offers are reported at 1.1280-90 and more at 1.1300-10 with stops above 1.1320.
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Intra-Day Market Moving News and Views
20 Apr 2016 02:08GMT
EUR/USD - 1.1361... The single currency found support at 1.1303 at Asian open yesterday and then rallied to 1.1345 in European morning due to active cross-buying in euro vs yen, then higher to 1.1385 in New York morning after release of downbeat U.S. new home sales data before retreating.
Euro found support at 1.1352 ahead of Asian open today and moved sideways afterwards.
Today, Germany will release its Producer Price Index for March at 06:00GMT and expectations of this readings from the market is 0.2% m/m and -2.9% y/y compare to previous readings of -0.5% and -3.0% respectively.
Other than that, cross trading in euro should dominate the intra-day swings of the single currency but buying on dips is recommended.
At the moment, bids are reported at 1.1350-40 and then 1.1330-20 with mixture of bids and stops at 1.1320-00 region. On the upside, offers are noted at 1.1390-00 and more at 1.1410-20 with stops above there.
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Intra-Day Market Moving News and Views
21 Apr 2016 02:08GMT
EUR/USD - ...... The single currency erased its early gains against the greenback and fell in New York session after a brief rise to a high of 1.1388 as investors adjusted positions in the lead up to a policy meeting by the European Central Bank on Thur. The pair eventually tumbled to 1.1291 in o/n New York before recovering.
Today, the ECB is scheduled to announce its latest monetary policy decision and hold a press conference at 11:45GMT and 12:30GMT respectively.
The central bank is widely expected to hold interest rates unchanged at record lows, but President Mario Draghi is likely to drive home the case for ultra-loose monetary policy.
At the moment, initial offers are tipped at 1.1320-30 and more at 1.1340-50 with stops above there, whilst bids are noted at 1.1290-1.1280 and then 1.1270-60 with stops below 1.1250.
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[B]Intra-Day Market Moving News and Views
22 Apr 2016 [/B] [I]03:23GMT[/I]
EUR/USD - ...... Euro surrendered its early gains versus the greenback and tumbled from 1.1399 to a fresh intra-day low of 1.1270 in New York session on Thursday following dovish comments from ECB's President Mario Draghi in ECB's press conference as he hinted that rates could be cut again in the short-term future.
Today, although yesterday’s intra-day selloff in New York session suggests consolidation with downside bias would be seen in Asia, investors should pay attention to the release of a slew of economic data from euro zone and its member countries, these include Markit manufacturing PMI and Service PMI for France n Germany and euro zone, Germany IFO reports, Italy industrial orders and retail sales.
At present, offers are noted at 1.1320-30 and more at 1.1340-60 region with stops above 1.1380, whilst initial bids are reported at 1.1290-80 and then 1.1270-60 with stops below 1.1250.
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[B]Intra-Day Market Moving News and Views
25 Apr 2016[/B] [I]03:00GMT[/I]
EUR/USD - ...... Although euro fell below previous week's low at 1.1234 to a fresh 3-week trough of 1.1218 in Friday's New York session n then marginally lower to 1.1216 ahead of Asian open today, lack of follow-through selling prompted short-covering n price later recovered to 1.1241.
Today, European Commission and ECB will have joint conference in Frankfurt at 06:45GMT. The ECB official website stated that this year’s joint ECB/EU Commission conference on financial integration and stability will focus on the further development of the Banking Union and the Capital Markets Union as catalysts for further financial integration in Europe. The ECB Vice-President, Vitor Constancio, and the European Commissioner for Financial Stability, Financial Services and Capital Markets Union, Lord Jonathan Hill, will give keynote speeches.
Moreover, in two high-level panels, a selected group of key policymakers, financial market leaders and academics will discuss the achievements and further steps for the Banking Union as well as the long term vision of the Capital Markets Union and its contribution to financial integration.
At present, initial bids are noted at 1.1220-10 and then 1.1200-1.1190 with stops below 1.1180, whilst offers are reported at 1.1250-60 and then 1.1270-80 with stops above 1.1300.
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[B]Intra-Day Market Moving News and Views
26 Apr 2016[/B] [I]01:48GMT[/I]
EUR/USD - ....... Although the single currency fell marginally lower to a fresh 3-week trough of 1.1216 ahead of Asian open on Monday, cross-buying in euro vs other major currencies lifted price in Europe and eur/usd pair later climbed to 1.1278 in New York session before moving sideways.
As euro’s sideways move is likely to continue in subdued Asia, trading euro from both sides of the market is recommended.
At present, offers are reported at 1.1290-00 and more at 1.1310-20 with stops above 1.1330, whilst bids are noted at 1.1250-40 and then 1.1230-20 with stops below 1.1210.
[B]Data to be released on Tuesday: [/B]
Germany import price index, Italy trade balance, U.K. mortgage approvals, U.S. building permits, durable goods, Redbook index, CaseShiller home price indices, U.S. Markit service PMI, consumer confidence and Richmond Fed manufacturing index.
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[B]Intra-Day Market Moving News and Views
05 May 2016[/B] [I]02:20GMT[/I]
EUR/USD - 1.1486.. Euro is nursing loss in subdued Asian trading after yesterday's resumption of decline from Tuesday's 8-month high of 1.1617 to 1.1467 in New York morning, subsequent sideways move in New York afternoon suggests range trading would continue ahead of European open.
Although euro’s aforesaid selloff from 1.1617 confirms recent strong upmove has made a top there, steep fall is unlikely to be seen as traders are expected to keep their powder dry ahead of Friday’s NFP.
In addition, many European centres are closed today (Germany, France, Switzerland plus many euro zone countries) for Ascension Day holiday (traditionally celebrated on a Thursday, the fortieth day of Easter), so trading may well be quiet until London opens.
Offers are noted at 1.1500/10 and more above with stops above 1.1530, a mixture of bids and stops is touted at 1.1470-60 with more stops reported below 1.1440.
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[B]Intra-Day Market Moving News and Views
09 May 2016[/B] [I]03:00GMT[/I]
EUR/USD - ....... The singe currency came under renewed selling pressure in New Zealand and briefly dropped below Friday's New York low at 1.1387 to 1.1380 at Asian open on dlr's broad-based strength.
However, euro pared its losses and staged a short-covering rebound to 1.1405 in Asian morning before retreating again.
Germany will release its factory orders at 06:00GMT. Street forecast for m/m reading is 0.7% vs previous figure of -1.2%.
Offers are now seen at 1.1420/30 and more above at 1.1450/60 with stops building up above there whilst initial bids are noted at 1.1340/50, suggesting selling on pullback is the way to go.
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[B]Intra-Day Market Moving News and Views
12 May 2016[/B] [I]03:00GMT[/I]
EUR/USD - ...... The single currency found renewed buying at 1.1378 in Asia and rallied to an intra-day high at 1.1447 at New York midday on dlr's broad-based weakness together with active cross-buying of euro vs sterling. However, lack of follow-through buying triggered profit-taking n euro retreated to 1.1421 in late New York afternoon and continues to remain under pressure in Asia.
Pay attention to the release of EU industrial production m/m and y/y at 09:00GMT.
Street forecasts are 0.0% n 1.1%, up from previous readings of -0.8% and 0.8% respectively.
Bids are now lowered to 1.1410/20 and more below at 1.1380/90 with stops building up below there whilst initial offers are noted at 1.1470/80, suggesting near term upside bias would be seen, hence buying on dips is favored.
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[B]Intra-Day Market Moving News and Views
17 May 2016[/B] [I]03:00GMT[/I]
EUR/USD - ...... Despite yesterday's initial rise to session high at 1.1342 at New York open, the single currency met renewed selling and retreated to 1.1313 in New York afternoon, then marginally lower to 1.1309 ahead of Asian open today and continues to remain under pressure due to active cross-selling in eur/gbp.
In the absence of major eco. data from eurozone today, price is likely to trade in a sideways manner with offers seen at 1.1330/40 and more above at 1.1350/60 with stops building up above there whilst initial bids are noted at 1.1280/90.
Later today the Greece’s parliament will vote on a new package of tax hikes and reforms demanded by its international lenders on Sunday, two days before euro zone finance ministers assess whether Athens qualifies for much-needed bailout loans.
The bill would increase value added tax by 1 percentage point to 24%, raise tax on fuel, tobacco and alcohol, liberalize the sale of banks’ non-performing loans and detail the set-up a new privatization fund.
The officials also added that it will also include details on a contingency mechanism to impose tighter austerity measures, which will be activated only if Greece misses its fiscal targets.
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[B]Intra-Day Market Moving News and Views- EUR/USD
25 May 2016[/B] [I]02:108[/I]
EUR/USD - ..... The euro zone gave Greece its firmest offer yet of debt relief in what finance ministers called a breakthrough deal that won a commitment from the IMF finally to return to taking part in the bailout for Athens.
After talks that lasted into the small hours of Wednesday, the Eurogroup ministers gave a nod to releasing 10.3 billion euros in new funds for Greece in recognition of painful fiscal reforms pushed through by Prime Minister Alexis Tsipras’s leftist-led coalition, subject to some final technical tweaks.
But a bigger step forward was a deal by which the euro zone agreed to offer Athens debt relief in 2018 if that is necessary to meet agreed criteria on its payments burden. That was enough to secure an agreement from the International Monetary Fund to again join the euro zone in funding the bailout of Greece.
Acknowledging the “political capital” European ministers invested to reach the deal – a nod to strong German objections to debt relief – Dijsselbloem called it a “new phase” in a six-year drama to stabilise Greece’s finances that has taken the 16-year-old euro zone to the brink of break-up.
Mutual trust was returning to the talks, he said, nearly a year after Tsipras’s rejection of austerity measures pushed Athens close to be pushed out of the euro.
The IMF has long insisted on the European governments taking a hit to relieve Athens of some of its debt in order to make its public finances more sustainable. The refusal of Germany and others to do that had led to months of wrangling with the IMF in which Athens had been something of a spectator in negotiations.
While the Europeans did not offer immediate debt relief, or make an unconditional promise of reducing the payments Greece must make to them, they did spell out criteria for it.
Athens’ gross financing needs show be kept below 15 percent of GDP in the medium term and below 20 percent beyond that.
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[B]Intra-Day Market Moving News and Views
30 May 2016[/B] [I]03:12GMT[/I]
EUR/USD - 1.1101.. Euro languishes near a 2-1/2 month trough of 1.1098 in Asia on Monday as intra-day rally in DLR/YEN has led to renewed broad-based usd's strength.
Having said that, Asian traders are not too eager to knock the pair lower as price has already fall fairly sharply in New York session on Friday, so one can expect a minor recovery to occur ahead of European open ahead of release of a slew of economic data from euro zone countries.
Offers are tipped at 1.1220/30 and more above with stops above 1.1150, some bias are noted at 1.1090-00 and more below (profit taking).
As both U.K. & U.S. markets are closed for holiday today, trading activity is expected to die down near European midday.
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[B]Intra-Day Market Moving News and Views
15 Jun 2016[/B] [I] 02:52GMT[/I]
[B]EUR/USD[/B] - ....... The single currency fell below Mon's low at 1.1232 to 1.1208 in Europe yesterday as German 10-Year Bunds slipped into negative territory for the first time on record due to fears ahead of EU referendum.
Later, price dropped further to 1.1189 in New York morning after meeting renewed selling at 1.1241 before staging a bounce to 1.1220 on short-covering before moving sideways in New York afternoon.
Today, apart from the release of France’s CPI at 06:45GMT, investors should pay attention to the speeches from Bundesbank’s Weidmann and ECB’s Constancio at 14:00GMT and 14:30GMT respectively.
At the moment, offers are reported at 1.1230-40 and more at 1.1250-60 with stops above there, whilst initial bids are noted at 1.1190-80 and then 1.1170-60 with stops below 1.1150.
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[B]Intra-Day Market Moving News and Views
16 Jun 2016[/B] [I]03:50GMT[/I]
[B]EUR/USD [/B]- ..... The single currency ratcheted higher after holding above Tuesday's low at 1.1189 and later rallied to 1.1298 in o/n New York following the unchanged Fed's rate decision n the release of FOMC statement. Later, price retreated to 1.1248 on profit-taking before edging higher again in Asian morning on Thursday.
Today will see the release of euro zone’s CPI for May at 09:00GMT. Market expects the inflation in euro zone to decrease to a monthly rate of 0.3% in May from 0.4% in preceding month.
Later, ECB’s Mersch will give speech at 15:15GMT.
At present, bids are noted at 1.1250-40 and then 1.1230-20 with stops below there, whilst offers from various accounts are tipped at 1.1280-90 and more at 1.1300-10 with stops above 1.1330.
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[B]Intra-Day Market Moving News and Views
04 Jul 2016[/B] [I]09:05GMT[/I]
Euro hits intra-day low after downbeat Eurozone data, Reuters reported sentiment in the euro zone fell to an 18-month low in July, a survey showed on Monday, as investors and analysts fear a major economic fallout from Britain’s vote last month to leave the European Union.
The Frankfurt-based Sentix research group’s index fell to 1.7 from 9.9 in June. Analysts polled by Reuters has expected a reading of 5.0.
Statement from Sentix said that the Brexit vote at the end of June in the United Kingdom is having a very different impact globally in terms of economic expectations, investors are clearly differentiating and in addition to Switzerland, they see the euro zone as mostly affected. Therefore the euro zone economy is dangerously close to stagnation.
Reflecting those concerns, the sub-index measuring expectations fell to -2.0 from 10 in June, reaching its lowest level since November 2014. A sub-index measuring the euro zone’s current condition fell to 5.5 from 9.8.
Sentix added that the European Central Bank (ECB) faces huge pressure from markets to act. A sub index measuring monetary policy expectations rose to 30.5 from 15.
The European Central Bank surprised many in March with interest rate cuts, additional monthly bond purchases and more cheap loans for banks designed as an incentive for them to lend more but left policy unchanged in April.
An index tracking Germany showed sentiment in Europe’s largest economy fell to 18.4 from 20.7. Investors were sceptical about the outlook for the German economy and the index measuring expectations fell to 2.7 from 7.9.
This survey of 1,056 investors was conducted end of last week, between June 30 and July 2.
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[B]Intra-Day Market Moving News and Views
15 Jul 2016[/B] [I]03:00GMT[/I]
EUR/USD - ..... Although one will be forgiven to expect very narrow move to take place in Asian morning following euro's trendless trading in New York afternoon, intra-day rally in cable forced traders to buy the euro in sympathy (rally in eur/yen also triggered euro buying too), price ratcheted higher from 1.1102 to 1.1140.
Despite yesterday’s intra-day retreat from 1.1165 to 1.1098 in New York morning following upbeat U.S. data, intra-day sterling-led rebound suggests consolidation with upside bias would be seen until European open. Having said that, traders are also mindful of 1.1186/90 being the res or top of recent trading range, so a break of this res is unlikely in the absence of supporting fundamental factors.
Bids are noted at 1.1110-00 and more below with stops below 1.1080, more stops are touted below 1.1040.
Offers are tipped at 1.1140/50 n at 1.1160/65 and more above with fairly large stops rumoured above 1.1200.
Italy will release trade data at 08:30GMT n EZ will release by the same together with inflation data afterwards.
Pay attention to release of a slew of U.S. eco. data later today with key U.S. CPI, retail sales, New York Fed mfg index at 12:30GMT, then we have industrial and manufacturer output, capacity utilization, bus. inventories, University of Michigan consumer confidence.
Last but not least, FOMC members Williams and Bullard will be speaking in New York afternoon.
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[B]Intra-Day Market Moving News and Views
15 Aug 2016[/B] [I]03:08GMT[/I]
EUR/USD - 1.1156... Despite opening slightly higher in New Zealand, the single currency met renewed selling at 1.1173 and resumed its fall from Friay's high at 1.1222 towards 1.1154 at Asian open and continues to remain under pressure in Asian morning, due partly to cross-selling of euro vs sterling.
Trading is expected to be relatively thin today as Italy and France will remain closed for market holiday and offers are now seen at 1.1170/80 and more above at 1.1190/00 with stops building up above there whilst initial bids are noted at 1.1100/10, suggesting choppy trading with downside bias would be seen.
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[B]Intra-Day Market Moving News and Views
23 Aug 2016[/B] [I]01:42GMT[/I]
EUR/USD...... The single currency rallied from yesterday's Asian low at 1.1271 to 1.1331 in New York morning on dlr's broad-based retreat. Renewed buying at 1.1311 in New York lifted the pair again n euro gained to 1.1334 at Asian open today and continues to trade with a firm bias.
There is a slew of data from eurozone today, including mfg. and serv. PMIs from France, Germany and EZ.
These figures would give a guage on the economy within the region after the Brexit vote n the impact it has had.
Offers are now raised to 1.1340/50 and more above at 1.1360/70 with stops building up above there whilst initial bids are noted at 1.1270/80, suggesting further choppy trading would be seen.
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[B]Intra-Day Market Moving News and Views
23 Sep 2016 [/B] [I]02:05GMT[/I]
EUR/USD - ..... Although the single staged an impressive rally in European session yesterday n later hit at high of 1.1257 in New York morning on active short-covering in the euro following usd's broad-based weakness in post-FOMC session on Wed, selling interest emerged n price later retreated to 1.1200 ahead of New York close, suggesting the 1st leg of correction from Wed's 5-week bottom at 1.1121 has ended there and consolidation is expected to continue in Asia and European morning.
Offers are tipped at 1.1230/40 and more at 1.1255/60 with stops reported above previous res at 1.1284/85.
Initial bids are noted at 1.1200 with stops below 1.1180, however, expect buying interest to emerge near 1.1160/65.
Pay attention to a slew of euro zone data in European morning.
Today is PMI day with France kicking off with France with GDP and Markit Mfg and Services PMIs, then the sames PMIs from Germany followed by the release of same PMIs from the EU.
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[B]Intra-Day Market Moving News and Views
11 Nov 2016[/B] [I]07:08GMT[/I]
EUR/USD - 1.0913.. Euro gained respite in fairly quiet/subdued Asian session as Asian traders are pretty tired after this week's wild swings.
Although price initially dipped to 1.0876 after Asian open, buying interest emerged above yesterday’s 1.0865 low and lifted price from 1.0876 to 1.0923, suggesting sideways move is likely to continue in Europe.
Euro may well edge higher on short covering as market will quieten down after European afternoon as financial markets in U.S. and Canada are closed for holiday today. Germany will shortly release October CPI data.
Bids are noted at 1.0875-65 n more below (there has been talk of option barrier at 1.0850) with stops reported below 1.0840.
Offers are tipped at 1.0940/50 with stops above 1.0960, more stops are touted above 1.1000, suggesting selling euro on intra-day recovery is still recommended.
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