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

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AceTraderFx Nov 09: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
09 Nov 2017 02:40GMT

EUR/USD - 1.1595.. The single currency orbited 1.1600 level in lack lustre Wednesday's session without a clear direction. Despite initial firmness in Asia and European morning due to usd's broad-based weakness on possible delay in U.S. tax reform, selling at 1.1611 capped intra-day gain and price ratcheted lower to 1.1579 in New York morning and later moved narrowly below 1.1600 for rest of the New York session.

Although euro's rebound from 1.1554 (Tuesday) to 1.1611 yesterday signals recent decline has made a temp. low, subsequent retreat to 1.1579 in New York suggests range trading would continue with a neutral bias, however, as long as previous res at 1.1616/24 holds, prospect of another fall still remains.

Offers are tipped at 1.1610/20 with stops above 1.1630.
Bids are noted at 1.1580-70 with stops reported below 1.1550.

Germany will release several trade data n EU will release eco. bulletin and eco. growth forecasts.
There will be a number of ECB members speaking today starting with ECB's Nouy, ECB's Coeure, ECB's Mersch, ECB's Constancio n ECB's Lautenschlager.

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AceTraderFx Nov 10: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
10 Nov 2017 03:00GMT

USD/JPY - 113.34.. Dlr moves in calm Asian trading on Friday after a whippy Thur session.
Despite initial marginal gain to 114.07 shortly after Asian open yesterday, dlr fell on intra-day active yen-buying due to selloff in the Nikkie, price weakened to a 1-week low of 113.24 ahead of New York open.

Although the pair staged a short-covering rebound to 113.69, broad-based decline in the greenback after details of Senate Republican tax bill were unveiled to cut the corporate tax rate to 20% from 35% but to delay implementation until 2019 sent price hitting fresh session lows of 113.09.
However, rebound in the U.S. yields in New York afternoon lifted price to 113.52.

Looks like range trading would continue until European open n as long as 113.09 low holds, consolidation with upside bias is in store but today's continued weakness in the Nikkie (N225 is currently down over 300 points at 22,552) suggests caution.
Bids are noted at 113.30-20 with stop reported below 112.90.
Offers are tipped at 113.60/70 with stops above 114.10.

U.S. financial markets are closed for Veterans Day holiday but U.S. will release University of Michigan consumer confidence at 14:00GMT.

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AceTraderFx Nov 13: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
13 Nov 2017 03:00GMT

USD/JPY - 113.68.. Dlr stands tall in early trading in Asia as intra-day selloff in the pound (see Sunday's MMN update) has led to broad-based usd's gain.

Although price opened flat in New Zealand, broad-based decline in sterling led to a bout of usd buying, price penetrated Friday's 113.64 high to 113.72 shortly after Tokyo open, his move suggests early correction from last Monday's 7-1/2 month peak at 114.74 has ended at 113.09 (Thursday) and consolidation with upside bias is seen, Friday's rally in U.S. yields (benchmark 10-year briefly climbed to a 2-week high of 2.4055%) should lend sup to the pair, so buying on dips is the way to go.

Bids are noted at 113.50-40 ans more below with stops reported below 114.00.
Offers are tipped at 113.80/90 and more above with stops above 114.10.

Although U.S. markets are back after Friday's Veterans Day holiday, no eco. data is due out today, so technical trading may well prevail and one can track intra-day move in the 10-year U.S. yields as rising rates will push dlr higher.

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AceTraderFx Nov 14: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
14 Nov 2017 02:00GMT

GBP/USD - 1.3222.. Cable rebounded on short covering in New York afternoon yesterday. Traders cited latest Brexit news for such a move. Reuters reported earlier British Brexit minister David Davis said on Monday the government would allow parliament the opportunity to debate, scrutinise and vote on any final Brexit agreement, offering a concession to Conservative Party rebels.

Prime Minister Theresa May is under pressure to offer a 'meaningful vote' on any deal for Britain's departure from the European Union. Members of her own party are willing to vote against the government to stymie a bill which she says is needed to sever ties with the bloc.

Due to market woes on U.K. leadership challenge suggests downside bias remains, below 1.3027 would extend fall from 1.3659 towards 1.2995.
Hold short for 1.3045 and only above 1.3165 would 'prolong' choppy consolidation, risk 1.3190/00 before down.

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AceTraderFx Nov 15: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
15 Nov 2017 03:30GMT

USD/JPY - 113.17.. Trading the pair yesterday proved to be tricky as despite initial firmness in Asia and then intra-day brief gain to 113.91 on rising U.S. yields after tripping some stops above 113.75, rally in the eur/usd in Europe together with sharp retreat in U.S. yields led to broad-based usd's weakness, price fell to 113.31 in New York morning.

Despite moving sideways in New York afternoon session, dlr met renewed selling in early Asian trading at 113.50 and fell to a 2-week low of 113.04 due to continued decline in U.S. yields.
Looks like price may head lower in European trading due to expected usd's weakness, so selling the pair on recovery is recommended.
Offers are tipped at 113.40/50 and more above with stops above 113.75.
A mixture of bids and stops is reported at 113.00-112.90.

Pay attention to release of key U.S. CPI n retail sales data at 13:30GMT and as it is our latest view usd may have already entered into another leg of broad-based decline, if the data come in weaker than market forecast, be prepared for further decline and even actual readings beat estimate, intra-day gain may only be short lived.

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AceTraderFx Nov 16: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
16 Nov 2017 02:30GMT

USD/JPY - 112.92.. Dlr moved broadly sideways in subdued Asian morning after yesterday's selloff to a 3-week low of 112.48.
Although traders ignored upbeat U.S. retail sales and CPI data and sold the greenback broadly after the release and knocked price to session lows of 112.48, short covering quickly emerged and lifted the buck across the board, price later rallied on active short covering to 113.19 but only to succumb to falling U.S. yields n retreated to 112.73 late New York trade and edging higher as U.S. yields inched higher.

Looks like choppy trading above 112.48 would be seen from here as usd extended gain vs the euro in Australian morning .
Offers at 113.15/25 may cap intra-day gain and yield another fall later in the day.
Bids are noted at 112.65-55 with stops below 112.40.

After yesterday's key U.S. data, today we have weekly jobless claims, import n export prices, Philly Fed survey, industrial and manufacturing prod. data, capacity utilization and NAHB housing market index. A number of Fed officials will be speaking today too (pls see EI page for details), so one can expect a lively New York session.
Last but not least, although the U.S. House will vote on Trump's tax plan, the outcome may well come late in the day, so just have to keep an eye out on the breaking news if you want to trade on the news (pun intended).

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AceTraderFx Nov 17: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
17 Nov 2017 03:30GMT

USD/JPY - 112.50.. Dollar fell broadly in hectic Asian trading as Bloomberg TV reported, citing source from the WSJ, U.S. Special Counsel Mueller said to have issued subpoena to Trump's campaign.

The pair initial penetrated initial sup at 112.73/75 and tripped stops below there, intra-day decline continued and price then breached Wednesday's 112.48 low at 112.48 and hit a 4-week trough of 112.40 ahead of Tokyo lunch break before staging a minor recovery on short covering.

Intra-day usd's weakness vs its G7 peers suggests further losses are to be expected in European trading as European players have yet to react to the Mueller's news n market has discounted Thursday's passing of GOP tax bill by the House as the tax reform still faces uncertainty when it is sent to the Senate for voting which is expected to be well after next Thursday's Thanksgiving Day holiday.
Offers have been lowered to 112.65/75 and more above with stops above 113.15.
Some bids are noted at 112.40-30 with stops below 112.00.

U.S. will release building permits, housing starts n KC Fed manf. index later today and these data are unlikely to save the falling usd.

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

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

EUR/USD - 1.1734.. Despite moving narrowly in New Zealand and Australian morning, the single currency took centre stage n tumbled on news reported the weekend marathon coalition talks between Merkel's CDU parties with other 3 parties (esp. the FDP) broke down, the pair fell from 1.1798 (AUS) to as low as 1.1723 ahead of Asian open.

Despite staging a short- covering bounce to 1.1750/51, euro is hovering just above said intra0day low, suggesting price may well come under renewed selling pressure when European early birds come to the market.
Offers are tipped at 1.1750/60 and more above with stops above 1.1800.
Some bids are noted at 1.1725-20 with stops below 1.1700.

Germany will release PPI at 07:00GMT and Buba will publish its monthly report.
The EU General Affairs Council meeting starts today, ECB's Luatenschlager will speak at 12:15GMT, then ECB's President will speak to European Parliament's ECON Committee at 14:00GMTECB's Vice President Constancio will be chairing a panel at ECB's conference in FFT at 14:15GMT.

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

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

USD/JPY - 112.55.. The pair maintains firm footing in fairly subdued Asian trading following yesterday's rally from a 4-1/2 week bottom at 111.89 (AUS) to as high as 112.72 in New York afternoon due to broad-based usd's gain together with rising U.S. Treasury yields.

Dlr's said strong bounce from 111.89 suggests recent decline has made a temporary low there and range trading is seen before further gain due to anticipated strength in the greenback vs its G7 counterparts, so buying on dips is recommended.
Bids are noted at 112.50-40 and more below with stops below 112.20.
Offers are tipped at 112.70/80 with stops above 113.00.

U.S. will release national activity index, Redbook retail sales and existing home sales. Also, Fed Chair Yellen will participate in moderated discussion at a conference in New York at 23:00GMT but since she is stepping down as soon as Fed Government Powell takes over in Feburary 2018, her comments will no longer carry much weight.

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AceTraderFx Nov 22: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
22 Nov 2017 03:00GMT

USD/JPY - 112.33.. Dlr continued to swing broadly sideways in choppy Tuesday's trading. Despite initial gain to 112.70 yesterday, offers below Monday's 112.72 emerged n knocked price steadily lower in European morning. Dlr briefly spiked lower to session lows of 112.18 in New York morning on falling U.S. yields and then recovered to 112.52 at New York midday.

The greenback weakened broadly ahead of Asian open on mildly dovish comments by Fed Chair Yellen when said said she is "very uncertain" about inflation will rebound and is open to the possibility that prices could remain low for years to come. In addition, WSJ news of continued investigation by U.S. Special Council Mueller (see previous update for details) led to a bout of yen-buying on risk aversion pressured the pair to 112.20.
However, renewed buying above yesterday's New York low at 112.18 has lifted the pair ahead of Tokyo lunch break.

Looks like broad sideways trading would continue until European open so traders can play the near term 112.20-112.70 range for now.
Bids are noted at 112.20-15 with stops below 112.00, more stops are reported below 111.80.
Offers are tipped at 112.50/55 n more at 112.70/75 with stops above there.

U.S. will release MBA mortgage applications, durable goods orders, initial weekly jobless claims, University of Michigan consumer confidence n last but not least, last FOMC minutes at 19:00GMT.

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