AceTraderFx: Intra-Day Market Moving News & Views & data to be released today

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AceTraderFx Aug 30: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
30 Aug 2016 03:02GMT

USD/JPY - ...... The greenback resumed its recent ascent n rose to 102.39 at European open yesterday on dlr's broad-based strength, however, lack of follow-through buying triggered profit-taking and price retreated. Dlr found renewed support at 101.75/76 at Tokyo open and gained to 102.25 due to release of upbeat JP retail sales together with the rebound in Nikkei.

Pay attention to the release of U.S. consumer confidence at 14:00GMT. Street forecast is for a slight decrease to 97.0 from previous reading of 97.3.

Bids are now seen at 101.80/90 and more below at 101.60/70 with stops building up below there whilst initial offers are noted at 102.70/80, suggesting buying on dips for a resumption of recent uptrend is favored.

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AceTraderFx Aug 31: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
31 Aug 201601:25GMT

USD/JPY - ...... THe greenback found renewed buying at 102.16 in European morning and rallied to an intra-day high at 102.13 in New York afternoon as the release of upbeat U.S. consumer confidence data increased speculation of a rate hike from the Fed later this year.
Profit-taking offers there pressured the pair lower to 102.86 ahead of Asian open before climbing to 103.23 at Tokyo open.

Pay attention to the release of U.S. ADP employment at 12:15GMT.
Street forecast is for a slight drop to 175K from previous reading of 179K.

Bids are now seen at 102.70/80 and more below at 102.50/60 with stops building up below there whilst initial offers are noted at 103.70/80, suggesting buying on dips for a resumption of recent uptrend is favored.

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AceTraderFx Sept 1: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
01 Sep 201602:00GMT

USD/JPY - ...... The greenback resumed its recent ascent and rose to a fresh 4-week peak at 103.53, helped by the release of upbeat U.S. jobs data. However, lack of follow-through buying triggered profit-taking and price retreated to 103.25 in New York, then lower to 103.10 in Tokyo morning.

There is a slew of data to be released today from U.S. but one should pay particular attention to jobless claims (12:30GMT) and manufacturing PMI (13:45GMT).
Street forecasts are 265K and 52.1 vs previous readings of 261K and 52.1 respectively.

Bids are now lowered to 102.90/00 and more below at 102.70/80 with stops building up below there whilst initial offers are noted at 103.70/80, suggesting further choppy trading would be seen.

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AceTraderFx Sept 2: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
02 Sep 2016 02:08GMT

USD/JPY - ...... Although the greenback resumed its recent winning streak n rose to a fresh 1-month peak at 104.00 in New York morning yesterday, price swiftly pared its gains and tumbled to 103.13 after the release of poor U.S. ISM PMI data.
Dlr found some support there n staged a rebound to 103.41 in New York afternoon and continues to trade with a firm bias in Tokyo morning.

Market focus is now solely on the release of U.S. jobs report at 12:30GMT. As this data will provide a key insight in to whether the Fed will hike rates once more this year.
Street forecasts for NFP n unemployment rate are 180K and 4.8% vs previous readings of 255K and 4.9% respectively.

Offers are now seen at 103.40/50 and more above at 103.70/80 with stops building up above there whilst initial bids are noted at 102.80/90, suggesting further choppy trading would be seen.

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AceTraderFx Sept 5: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
05 Sep 201601:03GMT

USD/JPY - ..... Reuters just reported activity in Japan's services sector slipped back into contraction in August as demand remained subdued despite a slight pick-up in new business, a private survey showed on Monday, highlighting the fragility of the economy.

The IHS Market Japan Services Purchasing Managers Index (PMI) dipped to 49.6 in August from 50.4 in July on a seasonally adjusted basis, below the 50 mark that separates expansion from contraction on a monthly basis.
While the decline was marginal, the reading was below the historical average and reflected a sector that was struggling for traction. The index has been darting between modest expansion and contraction since March.
The index for new business rose for the first time in three months to 50.7 from 49.7 in July, marking the sharpest increase since February.
But activity remained sluggish, prompting services firms to cut staffing for the third month in a row, albeit at a more modest pace than in July.

The services sector accounted for 70 percent of Japan's gross domestic product in 2014.

Sustained weakness would put more pressure on Prime Minister Shinzo Abe and the Bank of Japan, which have struggled to boost the economy and beat nearly two decades of deflationationary trends despite over three years of aggressive monetary policy and fiscal spending.
The composite Japan index for output in both manufacturing and services dipped into contraction, with a reading of 49.8 compared with 50.1 in July. Manufacturing had a 18.7 percent share of the GDP in 2014.
Japan's government is set to roll out economic stimulus featuring 13.5 trillion yen ($131 billion) in fiscal measures for public works and other spending to spur growth, though the spending will be spread over several years.

A majority of economists also expect the Bank of Japan will ease policy further later this month, a Reuters poll found, despite growing concerns in markets that its massive stimulus programme may be starting to do more harm than good.

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AceTraderFx Sept 6: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
06 Sep 2016 01:18GMT

EUR/USD - ....... Euro traded narrowly in subdued North American session on Monday. Although intra-day selloff in dlr/yen led to a brief moment of broad-based usd's weakness at European open and lifted euro to intra-day high of 1.1182, renewed selling then emerged n price later fell steadily to session low of 1.1140 in N. American morning before moving narrowly.

The fact that euro is trading near Monday's low suggests market is eager to pressure price towards last week's low at 1.1123 and stops are reported below 1.1120 and more below 1.1100.
Offers are noted at 1.1160/70 and more above with stop above 1.1185. So selling euro on recovery is the way to go.

A slew of eco. data will be release during European morning starting off with German industrial orders and then EZ revived GDP.

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AceTraderFx Sept 7: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
07 Sep 2016 01:40GMT

USD/JPY - ...... The pair took centre stage in hectic Wed Asian trading. Price fell ahead of Asian open after tripping large stops below 101.90 n hit intra-day low of 101.25.
Although short-covering lifted price back to 101.68, price inched lower n showed muted reaction to hawkish comments by San Francisco Fed President John Williams.

The fact that price is unable to stage a strong recovery in Asia suggests market is more eager to test dlr's downside. Offers are tipped at 101.65/75 and more above with some stops reported above 102.00.
A mixture of bids and stops is touted at 101.15-/00 area.

Although yesterday's US ISM services PMI was the key driver in knocking the greenback broadly lower in New York, there is little in upcoming U.S. data this week which will have much impact on price move, so fund flows will play a more important factor in the coming days.

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AceTraderFx Sept 8: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
08 Sep 201602:34GMT

USD/JPY - ..... Dlr finally gained respite in Thursday's Asian morning after having fallen for 3 consecutive days this week in Asia.
Although renewed buying at 101.65 lifted the pair ahead of Asian open and pushed price to intra-day high at 101.92 at Tokyo open, renewed selling quickly emerged and knocked price back down to 101.57, suggesting consolidation with downside bias remains.

Looks like the pair will move sideways but with a soft undertone as market's focus is on ECB's monetary policy announcement n Draghi's press conference (12:30GMT), so eur/usd will take centre stage later in the day.
For now, offers are tipped at 101.90/00 and more above with stops reported above 102.30/40, minor bids are noted at 101.50-40 with stops below 101.20.

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AceTraderFx Sept 8: Dollar fell at Tokyo open as news of a nuclear test by North Korea

Intra-Day Market Moving News and Views
09 Sep 2016 01:45GMT

USD/JPY - ..... Reuters reported Japan's Nikkei share average turned negative in mid-morning trade on Friday, erasing earlier gains after sentiment was soured by news of an artificial earthquake in North Korea seen as a possible nuclear test.
The Nikkei fell 0.3 percent to 16,917.22 as of 0058 GMT, after rising to as high as 17,029.78 earlier.
The U.S. Geological Survey reported a 5.3-magnitude seismic event in North Korea on Friday, near a nuclear test site in the northeastern part of the county.

Dlr fell at Tokyo open as news of a nuclear test by N. Korea stoked geopolitical fear and triggered broad-based yen-buying on risk aversion.
Prime Minister Shinzo Abe has instructed the relevant ministries to collect and analyse information regarding North Korea, Chief Cabinet Secretary Yoshihide Suga told a news conference.
A seismic event in North Korea on Friday morning measured by the U.S. Geological Survey with a magnitude of 5.3 appeared to be a nuclear test, South Korea's meteorological agency said earlier.

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AceTraderFx Sept 12: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
12 Sep 201603:09GMT

USD/JPY - ...... Dlr pares initial decline in Australia on Monday following a brief rise to session high of 103.06 as hawkish comments by Fed's Rosengren just ahead of NY open led to broad-based usd buying, however, mildly dovish comments in an interview with CNBC by Fed's Tarullo triggered long liquidation in the greenback, dlr retreated to 102.54 before trading sideways.

The intra-day decline to 102.31 in Australia caused by broad-based yen buying on risk aversion was attributed to expected broad-based weakness in Asian stocks after Friday's 2% plus decline in the Dow and S&P 500, Asian equities are in the red (N225 down 1.5%, Shanghai Comp. down 1.6% n HSI down 2.5%). Although dlr has rebounded in Asia, range trading below said Fri's 103.06 top is expected to continue.

Offers are tipped at 102.70/80 and more above with stops above 103.10.
Some bids are noted at 102.40-30 with stops below 102.20.

Although no U.S. data are due out today, pay attention to speeches by Atlanta Fed President Lockhart (non-voting member) at 12:05GMT, then Minneapolis Fed President Kashkari (alternate voting member) n last by not least, a final-minute scheduled speech by Fed Lael Brainard (actually all eyes n ears are on her) at 17:00GMT in Chicago.
Brainard is perceived as the most dovish member of the FOMC and market reckons her speech may be intended to send final signal to the market of the Fed's thinking of rate hike as after today, no Fed officials are allowed to make any public comments 1 week ahead of the 20-21 Sep FOMC meeting.

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