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

[acetraderfx]

AceTraderFx Aug 28: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News & Views USD/JPY
28 Aug 2014 02:43GMT

USD/JPY - ..... Despite a recovery from 103.79 to 104.00 in NY session, dlr came under renewed selling pressure shortly after Tokyo open n briefly weakened to 103.70 as fall in Nikkei triggered broad-based buying in yen (N225 was last seen down 80 points to 15454).

Although dlr's intra-day breach of yesterday's NY low at 103.75 suggests further choppy trading below Mon's 7-month peak at 104.49 would continue, sharp fall is unlikely ahead of the release of a slew of U.S. data (U.S. Q2 GDP, PCE, jobless claims n pending home sales) in NY morning.
Therefore, trading dlr from both sides of the market is recommended.
Bids are placed at 103.70/65 n 103.55 with stops emerging just below 103.50. On the upside, offers are noted at 103.80-90 n then 104.00 with stops located above 104.10.
Japan's FinMin is to request record 25.8238 tln yen for debt servicing costs for fiscal 2015/16.

Last night despite dollar's brief bounce to 104.16 in Asian morning, selling interest below penetrated Tuesday's NY res at 104.17 capped dollar's upside and price ratcheted lower to 103.79 in New York morning before trading sideways. Offers are now tipped at 104.00-10 whilst some bids are located at 103.80-75 with some stops seen below there but buying interest is located well above 103.50 sup.
Federal Reserve said to hold open meeting on Sept 3 on final rules for liquidity ratio, margin for non-cleared swaps.


Thursday will see the release of Australia's HIA new home sales, building Capex and capital expenditure, Germany's unemployment rate and change, Italy's retail sales, eurozone business climate, consumer confidence and economic and industrial sentiment; U.K. CBI distributive trades; Germany's CPI and HICP, Canada's current account, U.S. PCE, GDP and pending home sales on Thursday.

 

[acetraderfx]

AceTraderFx Aug 29: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving New and Views

29 Aug 2014 02:22GMT

USD/JPY - .... Dlr went through a mini 'roller-coaster' session on Thur. Although broad-based buying in yen due to renewed geopolitical tensions in Ukraine pressured price to 103.56 in Thursday's Europe, release of upbeat 2nd reading of U.S. GDP lifted price to 103.90 in NY morning but only to retreat to 103.65 in NY afternoon.

Today, traders have showed muted reaction to the early release of a slew of mixed economic reports from Japan (including unemployment rate, all household spending, CPI, industrial production and retail sales), suggesting consolidation above said yesterday's 103.56 low would continue, therefore, buying dlr on dips is still the favoured strategy.

Bids are noted at 103.60-50 with stops below 103.50, whilst offers are placed at 103.85/90 and above with stops emerging above 104.20.

Friday will see the release of Japan's unemployment rate, CPI, industrial output and retail sales, New Zealand's business outlook, Australia's housing credit and private sector credit, Japan's housing starts and construction orders, Swiss KOF indicator, Italy's unemployment rate, eurozone inflation and unemployment rate, U.S. PCE, personal consumption and income, Canada's GDP, producer prices and raw material prices, U.S. Chicago PMI, University of Michigan condition and expectations.

 

[acetraderfx]

AceTraderFx Sept 15:Intra-Day Market Moving News & Views USD/JPY

Intra-Day Market Moving New and Views

15 Sep 2014

USD/JPY - ....... Although the greenback staged a rebound after initial gap-down open to 107.16 in NZ, renewed broad-based buying in yen due to fall in the Nikkei futures capped gain just below last Fri's fresh 6-year peak at 107.40 shortly after Asian open n price retreated fm 107.36 to 107.19 before recovering.

As today is Japan's 'Respect of the aged day holiday, market is expected to be quiet in Asia session n range trading below 107.40 should continue until European open.
Offers are noted at 107.30-40 and then around 107.50 with stops emerging just abv 107.70. On the downside, bids are placed at 107.10-00 and then 106.85/80 with stops located below 106.60.

Looking ahead, investors' focus this week will be on the outcome of Wed's Fed policy meeting n the following press conference hold by Fed Chair Janet Yellen.
Market is expecting the Fed to cut its asset purchase program by another $10 bln which would keep it on track for winding up the program in Oct, and to start raising interest rates sometime in mid-2015.

 

[acetraderfx]

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

Intra-Day Market Moving New and Views

23 Sep 2014 02:20GMT

USD/JPY - 108.78.. Although dlr remained under pressure at Asian open following o/n weakness in NY session as decline in the Dow (down 107 points) triggered broad-based buying of yen on risk aversion.
The pair briefly penetrated NY low of 108.74 n fell to intra-day low of 108.60, however, release of stronger-than-expected China HSBC flash mfg PMI (Sep came in at 50.5 vs forecast of 50.0) boosted risk sentiment n lifted price to 108.81.

Range trading is expected in quiet Asian morning session as financial markets in Japan are closed for Autumn Equinox holiday.Bids are reported at 108.65-55 with stops touted below 108.50.
Offers are noted at 109.00/10 n more abv with stops abv 109.20. However, more selling interest is reported near last Fri's fresh 6-year peak at 109.46.

In an interview at a Bloomberg's eco. forum in NY on Mon, NY Fed President William Dudley said a sharply stronger dollar could hamper Fed efforts to spur growth n lift inflation.

Tuesday will see the release of China's HSBC manufacturing PMI, German and eurozone Markit service PMI, U.K. PSNB and PSNCR, Canada's retail sales, U.S. Redbook and Markit manufacturing PMI.

 

[acetraderfx]

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

Intra-Day Market Moving New and Views

25 Sep 2014 02:25GMT

USD/JPY - ....... Dlr ended up higher above 109.00 level yesterday as release of robust U.S. new home sales data triggered broad-based buying in greenback in NY n investors ignored the comments from Japan PM Abe who expressed concerns over the impact of a weak yen ahead of Wednesday's Tokyo open.

Despite dlr's retreat after climbing to 109.34 ahead of Tokyo open, intra-day near 200 points rally in the Nikkei should continue to boost risk sentiment and buying dlr on dips is still the way to go, however, sharp gain beyond last Friday's 6-year peak at 109.46 is not likely ahead of release of a slew of U.S. data in NY morning where are expected to come in weaker than previous readings.
Bids are noted in the region of 109.00-108.80 and then 108.60-50 with stops emerging below 108.30, whilst offers are placed at 109.45/50 and further out at 109.80-90 with stops located just above psychological barrier at 110.00.

U.S. will release durable goods, weekly jobless claims and Markit Service PMI today. Economists forecast durable goods orders to drop 18.0% in August after July's unusual 22.6% jump which mainly caused by a 317% spike in civilian aircraft n parts orders due to Boeing booking of a record 327 airplane orders.
For the weekly jobless claims and Markit Service PMI, market expects the number to climb to 299K a week ago and to drop to 59.0 in Sept from 59.5 in previous month respectively.

Thursday will see the release of U.K. CBI distributive trades, U.S. building permits, durable goods and Markit services PMI.

 

[acetraderfx]

AceTraderFx Sept 26: Intra-Day News & Views USD/JPY

Intra-Day Market Moving News and Views

26 Sep 2014 08:42GMT

USD/JPY - ...... Despite the greenback's initial weakness to 108.48 in Australia, renewed buying emerged there n pushed the pair higher. Dlr rose to 109.11 ahead of Asian open, n then higher to 109.16 in Asian morning on comments from Japan's Shiozaki. However, price pared its gains and retreated briefly but sharply to 108.85 b4 rebounding again in Europe.

Japan Welfare minister Shiozaki said he has no intention to put off reforms for the Gov't Pension Ivestment Fund (GPIF).
Reform of this fund is expected to result in more investment being channeled into Japanese equities n overseas assets, thus causing weakness in yen.

Bids are now seen at 108.80/90 n more below at 108.50/60 with stops building up below there whilst initial offers are noted at 109.40/50, suggesting buying on dips is still favored.

Earlier this morning, despite extending previous day's gain to 109.34 ahead of Tokyo open on Thur, then a marginal rise to 109.37 at European open, the pair fell sharply below 109.00 level in Thur's NY morning on risk aversion due to decline in U.S. n European stock markets together with news of Japan's health minister Shiozaki who said no hurry to reform GPIF.
Price tanked to 108.51 n then briefly recovered to 108.88 b4 edging lower in NY afternoon. Dollar fell briefly to 108.47/48 in Tokyo morning but rebounded to 109.11 as Nikkei pared initial losses after a 286 points 'gap-down' opening.

Although yesterday's intra-day sell off fm 109.37 to 108.51 indicates choppy trading below last Fri's 6-year peak of 109.46 wud contniue as investors are reluctant to add bets ahead of the release of U.S. GDP data (even though it is a final reading) n consumer sentiment report later today, range trading abv this week's low at 108.26 (Tue) shud continue in Asia n early Europe.
Offers are noted at 108.75/80, 108.95/00 n around 109.20, whilst bids are placed at 108.35/30 n then 108.20 with mixture of bids n stops located just below 108.00.

On the data front, economists estimate the U.S. Q2 real GDP is likely revised higher to 4.6%, while no significant revisions are expected for the GDP price index n core PCE deflator in Q2.
Later, University of Michigan will release report for consumer sentiment in Sept n market expects the final Sept sentiment index to come in higher at 84.7 than the preliminary report.

 

[acetraderfx]

AceTraderFx Sept 29: Intra-Day News & Views (USD/JPY)

Intra-Day Market Moving New and Views

29 Sep 2014
USD/JPY - ..... The greenback strengthen against the yen ahead of Europe after comments from Japan PM Abe (see our prev. MMN), price rose above last Friday's 6-year peak at 109.54 to 109.75 b4 retreating to 109.55 due to renewed broad-based weakness in dlr.

Offers at 109.60-70 are being absorbing but more are noted at 109.80/85 and ahead of 110.00 with stops emerging just above there.
On the downside, fresh bids are building up at 109.40-30 and 109.20-10 with mixture of bids and stops located just below 109.00.

Japan's PM Abe said a need to keep cautious watch on impact on economy from sales tax hike, higher fuel prices and adverse weather;
want to achieve summit with Chinese leader at early stage.'

Earlier, BoJ Governor Kuroda said we should pay more attention to the needed to strengthen financial system as a whole on global basis; it is also critical to implement a wide range of initiatives to maintain financial system stability; if the function of the financial system declines, the effects of monetary policy will decline; central banks cannot be unconcerned about the stability of the financial system.

Kuroda continues n says history suggests substantial imbalances in financial, economic activity emerge via feedback loop in which changes in output gap, financial cycle reinforce each other; developments in Japan's financial intermediation show no indication of overheating or excessively bullish expectations; BoJ will make policy adjustment without hesitation if judged necessary to achieve its price target.

 

[acetraderfx]

AceTraderFx Oct 3: Intra-Day News & Views(USD/JPY) & data to be released today

Intra-Day Market Moving New and Views

03 Oct 2014 02:40GMT

USD/JPY -......News from Japan Health Min Shiozaki, He said, quote
'what's most important in GPIF reform is to safely and efficiently manage public's pension funds;
reforming fund management, governance both important for GPIF.'

Another news from Japan PM Abe, he said, quote:
'its true Apr sales tax hike led to 7.1% contraction in Apr-Jun GDP;
must scrutinize impact of bad summer weather, rising fuel costs on economy, among other factors, in deciding whether to proceed with second sales tax hike.'

Yesterday saw USD/JPY, the pair was the major mover. Price came under renewed selling pressure due to broad-based buying of yen at Tokyo open as previous day sell off in the Dow pressured the Nikkei.
Dlr fell below Wednesday's 108.87 low to 138.55 after N225 index tumbled 420 points n despite a brief recovery to 108.96 at yesterday European open, renewed weakness in the Nikkei futures prompted another wave of broad-based buying in yen, the pair tumbled to session low of 108.32.
However, price pares yesterday intra-day loss as Nikkei futures staged a recovery after having fallen 120 points earlier.

Data to be released on Friday:

China market holiday, non-manufacturing PMI, Australia new home sales, Japan services PMI, Italy services PMI, France services PMI, Germany market holiday, services PMI, EU services PMI, retail sales, UK services PMI, U.S. non-farm payrolls, unemployment rate, avg. earnings, trade balance, services PMI, ISM non-manufacturing PMI, Canada imports, exports and trade balance.

 

[acetraderfx]

AceTraderFx Oct 7: Intra-Day News & Views(USD/JPY) & data to be released today

Intra-Day Market Moving New and Views

07 Oct 2014 01:34GMT

USD/JPY - ...... Reuters news quoting BOJ GOV Kuroda who is speaking before the parliament and says, quote:
recent export moves lacking momentum;
exports likely to improve moderately as overseas growth picks up;
tankan showed CAPEX plans are pretty firm;
positive cycle of households, companies using their income for spending is in place;
effect of sales tax hike on economy being prolonged, bad weather also affecting economy;
weak yen is generally positive for Japan's economy if it reflects economic, market fundamentals;
in general, weak yen has some positive effects on exports, Japan firms operating overseas;
weak yen also pushes down earnings of non-manufacturers by pushing up import costs.

Kuroda continues n says BOJ ready to adjust policy if needed, which means we will ease policy if economic, price outlook undershoots our forecasts; economy on steady track to meet 2% inflation goal; receny yen weakness due to diverging monetary policies between Japan, U.S. n Europe; yen weakness up until now has not been a problem for Japan's economy; important for public finances to be sustainable; appreciate govt's effort to tackle fiscal reforms.


01:12GMT Japan's GPIF now aims to decide portfolio overhaul between mid-Nov n mid-Dec, source.
Japan's Chief Govt. Spokesman says "had expected weak yen to boost exports but now moving sideways".
This morning BOJ Governor Kuroda to appear in parliament from around 01:20GMT - parliamentary source.
BOJ board meeting to recess for about 1-2 hours during time GOV Kuroda appears in parliament.

Last night, the greenback tumbled to as low as 108.65 due to active long liquidation in thin U.S. trading. Offers are tipped at 109.00-10 n more at 109.30. On the downside, a mixture of bids n stops is located at 108.50.

Tuesday will see the release of New Zealand business confidence, Japan BoJ rate decision, leading indicators, Australia RBA rate decision, Germany industrial output, Swiss CPI, retail sales, UK industrial output, manufacturing output, Canada building permits and U.S. redbook retail sales.

 

[acetraderfx]

AceTraderFx Oct 7: Intra-Day News & Views NZD/USD

Intra-Day Market Moving New and Views

07 Oct 2014

NEW ZEALAND GOVT OPERATING DEFICIT (OBEGAL) TO JUNE 30 NZ$2.93 BLN, -13 PCT VS FORECAST
NZ GOVT DEBT AT JUNE 30 26.2 PCT GDP, VS FORECAST 25.9 PCT

NZ Finance mininster Bill English said reaching 2014/15 surplus will be a challenge
- 'won't speculate' on whether will reach surplus
- govt to focus on controlling spending
- exchange rate still a headwind for economy, exporters
- tax revenue may be less than forecast this year
- economic outlook positive compared with other developed economies
- growth expected at more normal levels, reflecting lower dairy prices, global outlook
- half-yr economic fiscal update to be on Dec. 16