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

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AceTraderFx Sept 20: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
20 Sept 2017 02:40GMT

EUR/USD - 1.2014.. The single currency stand tall in fairly hectic Asian trading after penetrating yesterday's 1.2006 top to a fresh 1-week high of 1.2020. Tripping stops above 1.2010, more stops above 1.2030 are now in focus, suggesting buying euro on pullback for short-term trade is still recommended.

However, strong gain ahead of FOMC announcement is not envisaged and be aware of a selloff in post-FOMC esp. if Fed's "dot-plot" shows more Fed officials are expecting rate rise to be brought forward as well as the no. of rate increase in 2018.

For now, bids have been raised to 1.2000-1.1990 with stops below 1.1980, a mixture of offers n stops is touted at 1.2030/35.

Euro area eco. calendar is very light today with Germany's PPI being the only data due out.

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AceTraderFx Sept 21: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
21 Sept 2017 2:50GMT

USD/JPY - 112.53.. The greenback stand s tall in Asian trading after jumping from 111.12 to a 2-month high of 112.53 in post-FOMC when Fed's "dot plot" showed 12 FOMC members (up from 8 in June) still want a rate hike in Dec's meeting. Despite a minor retreat to 112.10 on profit taking ahead of New York close, early birds in Australia bot the buck and price climbed to intra-day high of 112.65 shortly after Tokyo open before coming off on selling by Japanese exporters who took advantage of recent dlr's strength.

Looks like range trading would be seen ahead of BoJ's policy announcement between 03:00-04:30GMT, the central is widely expected to stand pat in its rate decision and market focus is BoJ Kuroda's post-meeting press conference at 06:30GMT.

Bids are noted at 112.20-00 area with stops below 111.80, offers are tipped at 112.65/75 and more above with stops above 113.00.
Buying dlr on dips is the way to go due to rising U.S. Treasury yields with benchmark 10-year yield climbing to fresh 1-month high of 2.289% on Wednesday.

U.S. will release weekly initial jobless claims, Philly Fed survey, monthly home price n leading indicators but market will large show muted reaction to these data after yesterday's hawkish Fed rate forecast.

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AceTraderFx Sept 22: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
22 Sept 2017 2:40GMT

EUR/USD - 1.1954.. Euro maintains a firm undertone in Asia following yesterday's cable-led rebound to 1.1954 in New York morning. Intra-day decline in usd/yen n usd/chf due to renewed geopolitical tensions on the Korean Peninsular has led to broad-based usd weakness vs the European currencies in Asia, suggesting choppy consolidation with mild upside bias remains ahead of European open.

Bids are noted at 1.1930-20 with stops below 1.1890, more stops are reported below 1.1860.
Offers are tipped at 1.1975/85 and more above with stops above 1.2000.

Today is PMI day in the euro area countries, France will release Markit mfg n services PMIs, then the same from Germany and then the EU.
Pay attention to speeches by a great number of ECB officials including ECB President Draghi (please refer to our EI page for details).

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AceTraderFx Sept 25: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
25 Sept 2017 03:30GMT

EUR/USD - 1.1931.. Euro swung wildly in volatile trading on Mon as despite Sun's expected election win by Germany's Merkel, market concern on her difficulty in forging an unstable coalition in order to form a majority govt. together with the first right-wing AfD party to come in the parliament has unsettled the market, casting doubt on how the weak coalition govt. will move forward under present turbulent political climate surrounding the EU.

The single currency opened around 1.1951 n met renewed selling at 1.1960 in NZ, price later hit inra-day low of 1.1897 when German election result was made known.
However, short covering quickly lifted the pair n price then ratcheted higher back to 1.1934/35 shortly after Asian open. Looks like range trading usd be seen until European open n selling the euro on further rise for day trade is favoured.

Offers are tipped at 1.1960/80 area with some stops above 1.2010.
Bids are noted at 1.1920-00 with stops below 1.1890, more stops are touted below 1.1860.

The only data due out is the key German Ifo data esp the business climate at 08:00GMT, although Auh reading expected to come in at 116.0 vs previous reading at 107.90, present political uncertainty in Germany will discourage strong euro buying even if the data turns out to be higher than street forecast.

A no. of senior ECB members will be speaking starting with ECB's Constancio at 07:00GMT, ECB's Mersch at 09:15GMT, ECB President Draghi at 13:00GMT n ECB's Coeure at 14:45GMT.

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

Intra-Day Market Moving News and Views
26 Sept 2017 02:20GMT

USD/JPY - 111.64.. Dlr trades near Mon's 111.48 low after initial short-covering rebound met with renewed selling at 111.80 just ahead of Tokyo open n price then retreated back to 111.54 as news of deployment of N. Korea fighter to boost its air defence triggered another bout safe-haven yen buying.

Yesterday's intra-day 3-legged fall from 112.53 (Asia) to 111.48 in New York morning on escalation in the North Korea war of words by North Korea Foreign Minister signals recent upmove has made a top at last Thursday's 2-month peak at 112.72 and choppy trading with downside bias remains for further weakness towards next chart obj. at 111.12, so selling the usd or rather, buying the yen is the way to go.

Offers are tipped at 111.75/80 and more above with stops above 112.00.
Some bids are noted at 111.55-45 with stops below there, more stops are reported below 111.00.

Although U.S. will release a slew of eco. data (refer to EI page for details), market will be more interested to speeches by 4 Fed officials starting with Cleveland Fed's Mester (non-voter), then Fed Governor Brainard (voter) at 14:30GMT, pay attention to Fed Chair Yellen at 15:50GMT when she speaks at a luncheon themed "Prospects for Growth : Reassessing the Fundamentals" n lastly Atlanta Fed's Bostic (voter) at 16:30GMT, so expect a 'lively' U.S. session later in the day.

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

Intra-Day Market Moving News and Views
26 Sept 2017 03:00GMT

USD/JPY - 112.35.. The greenback maintains a firm undertone in Asian morning after rising briefly above New York high at 112.48 to 112.54 on Bloomberg TV report of U.S. Trump's proposed tax cuts (see previous updates for details).

The pair briefly jumped from 112.00 to 112.48 after Fed's Yellen said in her first post-FOMC speech that the Fed needs gradual rate hikes, however, as dlr has risen broadly earlier in the day, broad-based profit taking quickly set in n price retreated to 112.12 n moved narrowly in subdued New York afternoon.

Looks like range trading would be seen ahead of European open n European traders may react on Yellen's mildly hawkish comments and Trump's proposed tax cuts by buying the dlr, so be ready to be long ahead of European open.
Bids are noted at 112.20-00 area with stops below there, more stops are reported below 111.80.
Offers are tipped at 112.50/60 with stops above 112.80.

U.S. will release MBA mortgage applications, building permits, durable goods orders and pending homes sales later in the day.
After yesterday's speeches by a line of Fed officials, we have more to come later today starting with Minneapolis Fed President Kashkari (non-voter) at 13:15GMT, Fed Gov. Brainard (voter) at 18:00GMT and then at 23:00GMT Boston Fed President Rosengren (non-voter).

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AceTraderFx Sept 28: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
28 Sept 2017 03:10GMT

EUR/USD - 1.1739.. Euro trades sideways in Asia after staging a rebound from Wednesday's fresh 1-month low of 1.1718 to 1.1775 on short covering in New York session.
However, as the single currency has pared said intra-day gain and retreated to 1.1734 in Asia today, suggesting recovery is possibly over n euro bears may well test euro's downside again during European trading as rising U.S. yields is supporting the greenback broadly.
Offers are tipped at 1.1760/70 with stops above 1.1780, more stops are reported above 1.1810.

Initial bids are noted at 1.1720-10 (profit taking) with some stops touted below 1.1700, so selling euro on recovery is the way to go (our daily strategy is holding short entered at 1.1760).

Euro area countries will release a slew of eco. data starting with Germany's Gfk consumer confidence, EU bus. climate, eco. , bus., services n industrial sentiment index n Germany's prel. CPI.
Pay attention to speeches by ECB member Hansson at 06:30GMT, ECB Chief Economist Praet at 08:00GMT and ECB Board member Lautenschlager at 11:00GMT.

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AceTraderFx Sept 29: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
29 Sept 2017 02:50GMT

EUR/USD - 1.1780.. Euro moves narrowly sideways in subdued Asian trading after a tumultuous week which saw the euro tumbling from 1.1960 (New Zealand Monday) to a 1-month low of 1.1718 due to market jitters following uncertainty on the forming of an uneasy German coalition by Merkel's govt. together with hawkish Fed n rising U.S. yields on the back of market renewed optimism of Trump trade following his tax proposal.

Well, despite yesterday's initial weakness to 1.1721 at European open, a bout of broad-based profit taking in the usd quickly lifted the euro n price ratcheted higher to 1.1785 and later to session high of 1.1804 despite upbeat U.S. data, however, price later retreated to 1.1773 at New York midday n moved narrowly in New York afternoon.

Although yesterday's rally to 1.1804 confirms recent decline has made a temp. bottom at 1.1718, further strong rise above 1.1800 is now envisaged and selling on upmove is still favored.
Offers are tipped at 1.1800/10 and more above with stops above 1.1840. Initial bids are noted at 1.1770-60 and more below with stops below 1.1710.

Pay attention to release of a slew of eco. data starting with Herman retail sales, France's consumer spending, CPI n PPI, German unemployment, Italy's CPI n PPIn then EU CPI. ECB's Nouy will speak at 07:30GMT.

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AceTraderFx Oct 03: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 113.06.. Dlr popped higher in early Asian trading due to renewed usd strength following yesterday's gain, price easily penetrated Monday's 113.06 high to 113.17 as rebound in U.S. yields plus yesterday's rise in U.S. stocks to record highs boosted risk appetite, suggesting re-test of last Wed's 2-month peak at 113.26 would be seen after consolidation.

Therefore, buying dlr on dips is the way to go despite Mon's wild swings in New York session, bids are noted at 113.00/112.90 n more below with stops reported below 112.50.
A mixture of offers n stops is touted at 113.25/30.

Data to be released on Tuesday:
China market holiday, Germany market holiday, New Zealand NZIER confidence, GDT price index, Australia HIA new home sales, building permits, RBA interest rate decision, Japan consumer confidence.
U.K. Markit construction PMI, EU producer prices.
U.S. will release Redbook sales n ISM New York bus conditions index later in the day.

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AceTraderFx Oct 04: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
04 Oct 2017 03:20GMT

USD/JPY - 112.67.. In total contrast to dlr's firmness in Asia 24 hours ago, the pair remained on the back foot in early Wednesday's trading as another bout of broad-based usd bashing at Asian open knocked the pair down from 112.90 (AUS) TO 112.51.

Traders cited yesterday's fall in U.S. Treasury yields in New York on market speculation Fed Governor Jerome Powell (a known dove) will be the next Fed Chair when Yellen term expires in Feb 2017. Today's news on BLP TV that Trump aides are said to deliver short list for Fed Chair triggered another round of usd selling.

Pay attention to release of U.S. eco. data starting with ADP private payrolls, Sep reading is expected to come in at 125K vs previous month's figure of 127K due to disruption caused by recent hurricane disruption.
Afterwards, we have Markit services PMI and ISM-non mfg PMI. Last but not least, Fed Yellen will give brief welcome remarks before the Community Banking in the 21st Century Research and Policy Conference hosted by the Federal Reserve Bank of St. Louis at 19:15GMT n this is unlikely to affect the FX market.

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