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

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AceTraderFx Jan 17: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
17 Jan 2017 02:09GMT

USD/JPY - ...... Dlr swung broadly sideways in Asian morning. Despite initial drop to 113.84 shortly after Tokyo open as weakness in the Nikkie to a 4-week low at 18849 (currently at 19454) triggered yen buying.
however, renewed buying above yesterday's 5-week trough at 113.76 lifted the pair to 114.28, suggesting further choppy trading above said Mon's low would continue.

Market remains jittery ahead of U.K. PM May's speech later today around 11:45GMT as she outlines her so-called 12 priority points for upcoming Brexit negotiations of leaving the EU's single market as well as regaining complete control of Britain's borders (immigration control).

The yen may gain if market interpret her speech will lead to a 'hard Brexit'.
For now, offers are tipped at 114.30/40 and more above with stops reported above 114.55. However, more selling interest is touted at 115.00/10.
On the downside, bids are noted at 114.00/113.90 with stops below 113.70.

After PM May's speech, U.S. will release New York Fed manufacturing index, also New York Fed President William Dudley will speak at an event at 13:45GMT and later at 15:00GMT, Fed Board Governor Lael Brainard speaks on monetary and fiscal policy before the Brookings Institution in Washington.

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AceTraderFx Jan 19: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jan 2017 02:19 GMT

EUR/USD - 1.0672
Although euro's strong rebound from 1.0589 yesterday signals 1st leg of correction Tuesday's 5-week peak at 1.0719 has ended and consolidation with upside bias is seen, above 1.0703 needed to signal upmove from January's near 14-year bottom has once again resumed and extend to 1.0740/50, loss of upward momentum should cap price at 1.0780/85.

On the downside, below 1.0622 would turn outlook bearish for another corrective fall to 1.0550/55.

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AceTraderFx Jan 24: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
24 Jan 2017 02:19GMT

USD/JPY - 112.83.. The greenback finally pared yesterday's steep fall and staged a recovery to 113.14 on buying by Japanese importers on bargain hunting.

Despite intra-day brief but strong bounce to 114.07 in New York morning following Trump's comments on his broad economic plans (but lacking in details), renewed broad-based usd selling emerged and knocked the buck to 112.75, price later ratcheted lower to session low of 112.70 at the close before hitting a 7-week trough of 112.53 after hitting light stops below last week's low of 112.57.
However, lack of follow-through selling triggered broad-based short covering n lifted price back up to 113.14.

Expect range trading to continue before dlr continues its recent losing streak, so trading from short side is favoured.
Offers are tipped at 113.10/20 and more above with stops above 114.10.
Bids are noted at 112.60-50 with stops below there.

Pay attention to release of a slew of U.S. eco. data later in the day starting with Redbook retail sales, Markit mfg PMI and existing home sales.

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AceTraderFx Jan 25: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
25 Jan 2017 04:04GMT

USD/JPY - 113.56.. In total contrast to its intra-day biddish tone in yesterday's Asian morning, dlr pared Tuesday's impressive rally from a 7-week low of 112.53 to 113.89 in New York.

Despite extending o/n gain to 113.99 just ahead of Tokyo open, the pair quickly fell on broad-based yen buying esp. vs eur and aud, price retreated to 113.49. Some traders attributed to intra-day dlr's weakness on safe-haven buying of yen as U.S. President Trump begins his U.S. economic revival plan by what many see as moving the country to protectionism.

As price is currently trading near the day's low, suggesting consolidation with downside bias remains for further weakness.
Offers are tipped at 113.80/90 n more above with some stops touted above 114.10.
Some bids are noted at 113.50-40 with stops below there, more stops are reported below Tuesday's New York low at 112.91.

No major U.S. data are due out with MBA mortgage applications, monthly home price are the data during early New York morning, so technical trading will prevail for rest of the day.

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AceTraderFx Jan 26: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
26 Jan 2017 02:07GMT

USD/JPY - 113.38.. Despite initial weakness to 113.06 shortly after Tokyo open as short-term specs sold the pair in Australia following o/n weakness in New York afternoon, rally in the Nikkie (N225 currently at 19305, up by 1.3% after rise in the Dow, S&P 500 and NASDAQ to record highs on Wednesday) in early Tokyo morning trade boosted risk sentiment lifted the pair, suggesting choppy range trading is set to continue in Asia.

Having said that, anticipated usd's broad-based weakness suggests selling dlr on intra-day rebound is the way to go as Wed's several upside attempts to push price above 113.90 failed and ended with subsequent strong retreat.
Offers are tipped at 113.65/75 n more at 113.90/00 with stops reported above 114.10.
Initial bids are noted at 113.10-00 with stops below 112.90, however, more buying interest is reported above 112.50.

Later today, U.S. will release a slew of eco. data starting with initial weekly jobless claims, wholesale inventories, Markit services PMI, new home sales n then leading eco. index.

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AceTraderFx Jan 27: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
27 Jan 2017 04:38GMT

USD/JPY - .... The pair continued yesterday's impressive rally in active Tokyo trading due to broad-based selling in yen, traders attributed this move to a surprise increase in buying JGBs by the BoJ (see prev. MMN coverage for details).

Dlr briefly retreated to 114.09 in NY morning after weaker-than-expected U.S. weekly jobless claims, however, renewed usd broad-based weakness quickly lifted the pair n sent price to session highs of 114.85 before falling back to 114.26 in New York after afternoon on profit taking.
The pair rallied abv said New York low after BoJ's money market action and climbed to 115.04 after tripping stops above 114.85 n then 115.00.

As price has maintained a firm undertone ahead of Tokyo lunch break, suggesting intra-day upside bias remains for further gain. Bids are noted at 114.80-70 n more below with stops reported below 114.20.
Some offers are tipped at 115.00/10 n more above with stops above 115.65.

Pay attention to release of a slew of U.S. eco. data later in the day n in particular, the preliminary read of the key U.S. advance Q4 GDP, Dec durable goods orders, PCE Q4 n then University of Michigan consumer confidence.
Traders will pay close attention to the annual GDP growth which is expected to be 2.2% vs prev. reading of 3.5%, if actual comes in higher than street forecast, then usd will go higher, if it disappoints, then expect a broad-based usd decline.

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AceTraderFx Feb 01: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
01 Feb 2017 10:03GMT

GBP/USD - ..... Cable briefly rose above yesterday's 1.2595 high to 1.2605 in Europe but retreated after release of in-line U.K. mfg PMI. Reuters reported sterling's fall since Britain voted to leave the European Union stoked the sharpest rise in factory costs on record last month but offered little boost to exports, tainting otherwise robust manufacturing growth at the start of 2017.

Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) edged down to 55.9 from December's 2-1/2 year peak of 56.1, matching the consensus forecast in a Reuters poll.
The survey out on Wednesday suggested Britain's economy continues to expand at a solid rate after outpacing its rivals last year, with the PMI's gauge of manufacturing output pointing to the fastest growth since May 2014.
But it also drove home the view shared by Bank of England policymakers, who meet this week, that rising prices will soon put a brake on household spending, a key driver of the economy.

Factories' raw material costs rose at the fastest pace since PMI records began 25 years ago - fuelled by the pound's near 20 percent drop against the dollar since June's Brexit vote, as well as higher prices for steel and oil.
In response, manufacturers raised the prices they charged for their goods at the fastest pace since April 2011.

In previous months spiralling cost pressures had been matched with an improvement in export orders, but this faded in January's PMI. Orders from abroad rose at the weakest rate since last May, before the Brexit vote.
Manufacturing accounts for around a tenth of British economic output, and recent strong manufacturing PMIs have not fully transferred into subsequent official growth statistics.

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AceTraderFx Feb 02: Intra-Day Market Moving News and Views AUD/USD

Intra-Day Market Moving News and Views
02 Feb 2017 01:12GMT

AUD/USD - .... Reuters just reported Australia boasted its biggest trade surplus on record in December as surging commodity prices showered the resource-rich nation in cash, a windfall that could lessen the risk of a downgrade to its triple A credit rating.
Thursday's data from the Australian Bureau of Statistics showed a trade surplus of A$3.51 billion in December, handily outpacing forecasts of A$2.2 billion.

The previous month was also revised up sharply to A$2.0 billion, a double win that lifted the local dollar a quarter U.S. cent to $0.7624. Exports jumped by 5.3 percent to a record A$32.6 billion, led by double-digit gains in coal and iron ore, while imports edged up only 0.7 percent.
For the December quarter as a whole, the country notched up a surplus of A$4.8 billion in a startling turnaround from the previous quarter's A$3.8 billion shortfall.

That will also sharply shrink the fourth-quarter current account deficit, a timely improvement given S&P Global Ratings has cited a reliance on foreign funding as one reason it might cut Australia's top credit rating.
The rush of export earnings will also ripple through the economy via higher profits, incomes and tax receipts. That will again be a timely source of support given another engine of growth - residential construction - looks to be near its peak.

A separate report out on Thursday showed approvals to build new homes dipped 1.2 percent in December, the fourth fall in five months.
The pipeline of work yet to be done is still at record highs and should last longer in this cycle as much more of the construction comprises high-rise apartment towers.

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AceTraderFx Feb 03: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
03 Feb 2017 09:30GMT

GBP/USD - ......Reuters just reported growth in Britain's services sector slowed for the first time in four months in January, dipping just below its long-run average, as businesses battled the sharpest rise in costs in more than five years, a closely watched survey showed on Friday.

Britain's economy unexpectedly outpaced all its major peers last year, wrong footing those who expected an immediate hit from June's Brexit vote, and the spotlight is now on how resilient it will prove this year as price rises start to bite more.
Friday's data suggest any slowdown is likely to be gradual.
The Markit/CIPS services purchasing managers' index (PMI) dropped to a three-month low of 54.5 last month from December's 15-month high of 56.2, at the bottom end of a range of forecasts in a Reuters poll of economists.
This follows drops in PMIs for the smaller manufacturing and construction sectors earlier this week. Nonetheless, Markit said that together they still pointed to growth of 0.5 percent in the first three months of 2017, matching the BoE's latest forecast.

Services businesses said they were feeling more upbeat due to new orders, products and markets, as well as continued low interest rates and what they saw as more clarity about Britain's exit from the European Union.
Manufacturers had previously reported the sharpest rise in raw material costs on record, and services businesses on Friday said their costs were rising at the fastest since March 2011 due to sterling's fall since the referendum.

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AceTraderFx Feb 06: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
06 Feb 2017 07:03GMT

EUR/USD - ..... Euro showed 'muted' reaction to upbeat German data. Reuters reported higher demand for capital goods at home and abroad drove the biggest monthly increase in German industrial orders in around 2-1/2 years in December, data showed on Monday.
The single currency pared Friday's gain and eased ahead of European open after rising marginally above Friday's 1.0797 to 1.0800 in Australia following Sunday's euro comments by German Finance Minister Schaeuble (see 00:40GMT update), suggesting range trading is in store in European morning before prospect of further gain.

Offers are tipped at 1.0800/10 and more above with stops above 1.0850, more stops are reported above 1.0875.
Initial bids are noted at 1.0770-60 with some stops below 1.0750.

Germany will release industrial orders for Dec, then followed by EU Sentix investor confidence index.
Later, ECB's Frank Smets, Director General Economics (newly appointed) will speak at 09:30GMT and ECB President Draghi will speak on the occasion of the ECON hearing at 14:00GMT.

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