AceTraderFx Apr 24: Intra-Day Market Moving News and Views USD/JPY, NZD/USD

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AceTraderFx Sept 23: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
23 Sep 2015 00:20GMT

USD/JPY - ...... The greenback met renewed selling pressure at 120.54 ahead of European open yesterday and tanked to session low at 119.69 in European morning. However, price pared its losses and rebounded to 120.18 before easing in New York afternoon. Dlr found renewed support ahead of Asian open at 119.99 and ratcheted higher to 120.33 in Asian morning in thin trading conditions as Japanese markets remained closed for a 3rd consecutive day.

Investors are now looking ahead to the next key mkt mover, Fed Chair Yellen's speech on Thursday in Amherst, Massachusetts, on 'Inflation Dynamics and Monetary Policy'. Traders will be paying attention to the language used by Yellen for hints on when the central bank wud begin its rate liftoff (later this year or earlier next year).

Bids have now been raised to 120.00/10 and more below at 119.80/90 with stops building up below 119.70 whilst initial offers are noted at 120.70/80, suggesting buying on dips is still the favored strategy.

 

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AceTraderFx Sept 24: Intra-Day News and Views (USD/JPY) & data to be released today


Intra-day Market Moving News and Views
24 Sep 2015 00:20GMT

USD/JPY - ...... Despite dlr's strong rebound from yesterday's low at 119.63 to 120.55 in New York morning, price met renewed selling below Monday's low at 120.66 n retreated to 120.05 before stabilising.
The greenback trades narrowly at Asian open as Japanese traders return from a 3-day market holiday.

Expect intra-day sideways move inside 120.55-55 as today's market's main focus is on Fed Chair Janet Yellen's speech right at NY close at 21:00GMT in Amherst, Massachusetts, on 'Inflation Dynamics and Monetary Policy'.

Traders will be paying attention to the language used by Yellen for hints on when the central bank would begin its rate liftoff (later this year or earlier next year).
Until then, pay attention to intra-day performance of the Nikkei and Asian stocks as renewed weakness may trigger another round of yen-buying on risk aversion.

Bids are noted at 120.00/10 and more below at 119.70/80 with stops building up below 119.60 whilst initial offers are seen at 120.80/90.

Data to be released on Thursday:
New Zealand trade reports, Japan manufacturing PMI, all industry activity index, UK Nationwide housing price, mortgage approvals, Germany Gfk consumer confidence survey, IFO reports, euro zone target LTRO, Italy industrial orders, retail sales, U.S. jobless claims, durable goods orders, new home sales, Chicago Fed national activity index.

 

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AceTraderFx Sept 25: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
25 Sep 2015 01:16GMT

USD/JPY - ..... Although the pair is currently around the same rate it was trading at this time yesterday, price actually tumbled to as low as 119.21 in NewYork morning due to intra-day broad-based usd's selling which started in Asian morning and throughout European session.
However, the greenback regained composure ahead of European close and rallied broadly ahead of the much-awaited Fed chair Janet Yellen's speech to 120.08. Price then climbed to 120.36 when Yellen's prepared speech was released.

Dlr has maintained a firm undertone in Tojyo morning after edging marginally higher to 120.38, however, as Nikkei has just moved back to negative territory, consolidation is likely to be in store before prospect of further rise but recent broad range trading should continue.

Offers are tipped at 120.45/55 and more above with stops touted above 121.00.
Initial bids are noted at 120.10-00 and more below with stops reported below 119.80. Therefore, buying dlr on dips is recommended.

Data to be released on Friday:
Japan inflation reports, CSPI, Italy wage inflation, France consumer confidence, U.S. GDP, personal consumption expenditures, Markit Service PMI and University of Michigan consumer sentiment index on Friday.

 

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AceTraderFx Sept 29: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
29 Sep 2015 01:02GMT

USD/JPY - ...... The greenback continued to edge lower throughout Asia n Europe yesterday, eventually falling to session low at 119.69 in New York morning on dlr's broad-based weakness due to dovish comments from Fed's Evans together with a 300+ points drop in DJI.
Dlr met renewed selling at 120.01 in Australia today and fall sharply to 119..60 at Tokyo open as Nikkei-225 index tumbled by over 2% in early trade.

Reuters reported, Chicago Fed President Charles Evans, while answering questions at Marquette University, said Fed should leave interest rates near zero longer than planned and take an "extra patient approach" to tightening policy due to the risk that inflation will not rebound as quickly as expected. He also added 'Federal Reserve would need to deliver more stimulus "if things were to weaken very much.'

Pay attention to U.S. consumer confidence at 14:00GMT today. Street forecast is for a drop to 96.0 from previous reading of 101.5.
Offers have now been lowered to 119.90/00 and more above at 120.10/20 with stops building up above 120.40 whilst initial bids are noted at 119.10/20, suggesting selling the buck on recovery is still favored.

Data to be released on Tuesday:
UK Rightmove housing price, CBI distributive trades, euro zone consumer confidence, industrial sentiment, and service sentiment, Germany inflation reports, Canada producer prices, U.S. consumer confidence.

 

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AceTraderFx Sept 30: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
30 Sep 2015 00:40GMT

USD/JPY - ...... Despite yesterday's initial fall to 119.25 at European open, the greenback rose to 120.05, then session high at 120.16 in New York morning on broad-based selling of jpy as some calmness returned to the mkts following Monday's rout in stock mkts n as U.S. consumer confidence rose in Sep.
Later, dlr retreated to 119.53 in late New York afternoon, however, renewed support there lifted the pair n price rose to 120.02 at Tokyo open, helped by release of downbeat Japan data (see prev. MMN).

Pay attention to the release of U.S. ADP jobs report at 12:15GMT. Street forecast is for 194K vs previous reading of 190K. Investors shud also keep a keen eye on headlines coming fm Fed Chair Yellen's opening remarks at a conference later today at 19:00GMT.

Bids are now raised to 119.80/90 and more below at 119.50/60 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting buying on intra-day dips is the favored strategy.

Data to be released on Wednesday:
New Zealand building consents, NBNZ business outlook, Japan industrial reports, retail sales, housing starts, construction orders, Australia building approvals, private sector credit, UK Gfk consumer confidence, Nationwide house price, current account, GDP, France consumer spending, producer price, Switzerland KOF indicator, Germany unemployment reports, Italy unemployment rate, inflation reports, producer prices, U.S. ADP national employment, Chicago PMI, and Canada GDP.

 

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AceTraderFx Oct 2: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
02 Oct 2015 00:37GMT

USD/JPY - ...... Despite y'day's initial rise to session high at 120.28 after the release of Chinese PMIs, the greenback met renewed selling and tumbled to intra-day low at 119.49 in New York morning, weighed down by the release of downbeat U.S. jobless claims and ISM manufacturing PMI.
Later, dlr staged a short-covering rebound to 119.96 in New York afternoon before retreating. However, price found renewed support at 119.78 ahead of Tokyo open and gained to 119.94 in Asian morning.

Mkt focus is now solely on the release of U.S. jobs report at 12:30GMT. Street forecast for NFP is an increase to 203K fm prev. reading of 173K whilst unemployment rate is expected to remain unchanged at 5.1%. An upbeat report wud further boost the case for a rate hike before the end of this year whereas a downbeat data cud see Fed Chair Yellen delay it to next year.

Bids are now seen at 119.30/40 and more below at 119.10/20 with stops building up below there whilst offers are noted at 120.20/30, suggesting choppy trading would be seen till European open.

Data to be released on Friday:

Japan all household spending, unemployment rate, Australia retail sales, Markit construction PMI for UK, euro zone producer prices , U.S. non-farm payroll, unemployment rate, average earnings, durable goods (revised), and factory orders.

 

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AceTraderFx Oct 5: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
05 Oct 2015 01:04GMT

USD/JPY - ...... The greenback has stabilisied around 120 mark in early trading on Monday after Fri's volatile trading, following the release of disappointing U.S. jobs report. Dlr remains well bid and found support at 119.88 in Australia and gained to 120.10 in Asian morning, due partly to the 200+ points rally in the Nikkei-225 index.

Pay attention to the release of U.S. ISM non-manufacturing PMI at 14:00GMT. Street forecast is for a decrease to 58.0 from previous reading of 59.0.

Bids are now seen at 119.70/80 and more below at 119.50/60 with stops building up below there whilst initial offers are noted at 120.40/50, suggesting buying on dips for near term gain is favored.

Some news worth noting, Reuters reported, New York Fed President William Dudley, at a conference in Boston on Saturday, said U.S. is a long way from putting in place rules that will protect the financial system and the economy from broad risks, due in part to regulatory structure and to the difficulties of predicting the next crisis.

He added 'while the use of macroprudential tools holds promise, we are a long way from being able to successfully use such tools in the U.S.'

 

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AceTraderFx Oct 6: Intra-day Market Moving News and Data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
06 Oct 2015 00:40GMT

USD/JPY - ...... The greenback opened slightly higher in New Zealand yesterday and continued to trade with a firm bias throughout Australia and Asia. Dlr gained to 120.31 in European morning and ratcheted higher to session high at 120.55 in New York afternoon, helped by the rise in U.S. equities.
Price is trading with a firm undertone in Tokyo morning as Nikkei-225 is currently up by 300+ points.

There is no major eco. data to be released from U.S. today, however, investors should keep an eye on headlines from Fed William's speech at 21:00GMT. Though it is safe to assume the Fed won't raise rates anytime soon, in light of recent disappointing jobs report, the central banker should drop hints on if the Fed can raise rates before the end of the year.

Bids are now seen at 120.10/20 and more below at 119.80/90 with stops building up below there whilst initial offers are noted at 120.70/80, suggesting buying on dips is favored.

Data to be released on Tuesday:

New Zealand business confidence, Australia Westpac consumer confidence, imports, exports and trade balance, RBA rate decision and statement, Germany factory orders, U.K. Halifax house prices, Switzerland CPI, U.S. trade balance, Redbook, and Canada trade reports.

 

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AceTraderFx Oct 7: Intra-day Market Moving News & ata to be released today (USD/JPY)

Intra-Day Market Moving News and Views
07 Oct 2015 00:47GMT

USD/JPY - ...... The greenback met renewed selling at 120.57 in Asian morning yesterday and retreated to 120.12 b4 staging a rebound. However, price came under renewed pressure and dropped marginally below to session low at 120.11 at New York midday. Later, dlr pared its losses n gained to 120.38 in New York afternoon and continues to remain well bid at Tokyo open.

Market attention is now on BoJ's rate decision around 03:00GMT. Although it is widely expected there won't be any new monetary decisions made today, the central bank has come under pressure from the government to provide additional stimulus for the economy. Hence, investors should pay attention to Governor Kuroda's press conference at 06:30GMT, as he may drop hints about his plans considering QE.

Bids are now seen at 119.90/00 and more below at 119.70/80 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting choppy trading would be seen ahead of BoJ's rate decision.

Data to be released on Wednesday:
Japan BoJ rate decision, BoJ monetary policy statement, BoJ governor Kuroda press conference, leading economic index, Australia HIA new home sales, Germany industrial production, France exports, imports and trade balance, ECB's non-monetary policy's meeting, UK industrial production, manufacturing production; NIESR GDP estimate, Canada building permits

 

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AceTraderFx Oct 7: BOJ maintained its optimistic view

07 Oct 2015 03:10GMT

USD/JPY - ..... Reuters later reported the BoJ held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten its rosy projection that the economy is on track to hit its ambitious 2% inflation target next year.

But lingering fears of recession will keep the central bank under pressure to ease at a more crucial meeting on Oct. 30, when it is expected to cut its long-term economic and price forecasts, analysts say.
For now, the BOJ maintained its optimistic view that while exports and output have been hurt by slowing emerging market growth, Japan's economy continues to recover moderately.

Japan's economy shrank in April-June and some analysts expect another contraction in July-September on slumping global demand and weak consumption.
Core consumer prices slid in August to mark the first annual drop since the BOJ deployed its massive stimulus programme more than 2 years ago, casting doubt on whether heavy money printing alone can accelerate inflation to 2%.

BOJ Governor Haruhiko Kuroda may struggle to convince markets at his post-meeting news conference that the economy can emerge from the doldrums without additional monetary support, analysts say.

In a semi-annual review of its forecasts on October 30, the BOJ is set to slash its economic growth forecasts and push back the timing for achieving its price target, sources say.
The BOJ now expects inflation to hit 2% by around September next year, a forecast many analysts criticise as too ambitious.