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

[acetraderfx]

AceTraderFx Jun 2: British voters neck-to-neck on poll to 'leave or stay' in EU and manufacturing PMI rose slightly

Intra-Day Market Moving News and Views GBP/USD
01 Jun 2016 08:45GMT

GBP/USD - ...... Breaking news from Reuters, YouGov/Times poll shows 41 pct of Britons would vote to remain in EU, 41 pct to leave. British voters are evenly split between "Remain" and "Leave" ahead of a June 23 referendum on whether to remain in the European Union, according to the latest online opinion poll from YouGov for The Times newspaper.
The poll of 1,735 people, conducted on May 30-31, found that both camps were level on 41 percent, with 13 percent undecided and 4 percent not intending to vote.
The results were identical to YouGov's previous survey for The Times, which was conducted on May 23-24.

The Markit/CIPS manufacturing Purchasing Managers' Index (PMI) rose more than expected to 50.1 in May from April's slightly upwardly revised 49.4, the lowest reading since early 2013. Economists in a Reuters poll expected a 49.6 figure.
British manufacturing activity barely grew last month, adding to signs that the economy is slowing in the run-up to a referendum on European Union membership, a survey showed on Wednesday.
But the index was only a fraction above the 50 mark which separates growth from contraction, and below levels seen at the start of 2016. Official figures show manufacturing failed to contribute to overall growth throughout 2015 and early 2016.

Britain's economy slowed in the first three months of the year, and recent data showed business investment fell in annual terms for the first time in three years as uncertainty over the June 23 referendum weighed on sentiment.
Many economists expect the economy to weaken further in the second quarter. The Bank of England has said a vote to leave the EU could even tip the economy into recession.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 3: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
03 Jun 2016 01:28

USD/JPY - ...... The greenback met renewed selling at 109.32 yesterday at European open and tumbled to session low at 108.53 in New York morning, weighed down by the release of slightly downbeat U.S. ADP jobs report.
However, price pared its losses n staged a short-covering rebound to 108.93 in New York afternoon, then 109.14 in Tokyo morning.

Mkt focus is now on the release of U.S. jobs report at 12:30GMT. Street forecast for non-farm is for a slight increase to 162K from previous reading of 160K and unemployment rate is expected to fall to 4.9% from 5.0%.
Traders will be using this data to base their judgement on when the Fed would look to hike its rates next.

Offers are now raised to 109.40/50 and more above at 109.60/70 with stops building up above there whilst initial bids are noted at 108.50/60, suggesting further choppy trading would be seen.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 6: Latest poll on Brexit is 4% ahead by YouGov poll

Intra-Day Market Moving News and Views
06 Jun 2016 00:07GMT

GBP/USD - ....... YouGov Brexit poll for ITV puts 'remain' at 41 pct, 'leave' at 45 pct.
Reuters then reported support for Britain to leave the European Union stood 4 points ahead of support for remaining in the 28-member bloc, according to a YouGov poll for ITV, Bloomberg reported on Monday.

The poll was based on a Wednesday-Friday survey of 3,405 people.
Britons vote on June 23 on whether to remain in the EU.

The campaign to get Britain out of the European Union has a 2-point lead over the "Remain" campaign, polling firm TNS citing a poll conducted in the third week of May.
Forty-three percent of respondents wanted Britain out of the EU, while 41 percent wanted it to stay, according to the online poll of 1,213 Britons. The difference was within the poll's margin of error. Sixteen percent of respondents were undecided.

The TNS poll was carried out between May 19-23, a month before the EU referendum date.

Britons will vote in just over 2 weeks time on June 23 on whether to remain in the 28-member bloc, with important implications for its trade, economic and political status.
The campaign to stop Britain voting to leave the EU has seen its lead shrink recently, with polls in the past week showing gains for "Leave".
Sterling fell sharply last Tuesday when both an online and a telephone poll for ICM showed a 3-percentage-point lead for the "Leave" campaign.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 7: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
07 Jun 2016 01:28

USD/JPY - ..... The greenback staged a short-covering rally from yesterday's Australia low at 106.35 to 107.28 in early European morning, then 107.56 at New York midday after Yellen's comments.
However, dlr briefly retreated to 106.84 in New York afternoon before rising again to 107.66 near New York closing. Price came under renewed selling pressure ahead of Tokyo open and fell again to 107.22 at Tokyo open as Yellen's comments yesterday failed to provide support to the buck.

As there are is no major eco. data due today, traders are likely to use the combination of Yellen's comments together with Friday's jobs report to trade the market.

Offers are now seen at 107.50/60 and more above at 107.80/90 with stops building up above there whilst initial bids are noted at 106.80/90, suggesting choppy trading with downside bias would be seen initially.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 7: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 07 Jun 2016 09:23 GMT

USD/JPY - 107.76
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store, however, resistance at 108.07 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.
On the upside, only above 108.07 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 10: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
10 Jun 2016 01:28

USD/JPY - ...... Reuters reported ahead of Asian open, Japanese Economy Minister Nobuteru Ishihara said today that he was closely watching the impact of a referendum in Britain later this month over whether or not Britain is to remain in the European Union. Speaking to reporters, he said that if Britons decide to leave the EU this could impact Japanese companies with operations in Britain.

Ishihara also comment that a decline in Japanese machinery orders in April was no reason to be pessimistic about capital expenditure and that he had no plans to change his economic assessment.
Reuters had reported that Japanese wholesale prices fell 4.2 percent in the year to May.
The fall in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, compares with the median market forecast for a 4.2 percent annual decrease and follows a 4.2 percent annual decrease in April.

Overall final goods prices -- the prices of finished products charged to businesses -- fell 3.0 percent from a year earlier.
Domestic final goods prices, which loosely track the consumer price index, fell 1.2 percent from a year earlier.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 13: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
13 Jun 2016 01:28

USD/JPY - ....... Despite a brief gain to 107.01 at New Zealand open, price retreated ahead of Asian open and fell to 106.38 as intra-day decline in Nikkei triggered broad-based buying in yen (N225 index is currently down 2.65% to 16163).

As investors are cautious ahead of this week's central bank meetings as well as Britain's June 23 referendum on whether to remain in the European Union, and are no economic data from U.S. today, suggesting choppy trading with downside bias would be seen but May's 18-month trough at 105.55 should remain intact.

At present, offers are noted at 106.80-90 n more at 107.00-10 with stops above 107.30, whilst bids are reported at 106.30-20 and then 106.10-00 with stops below there.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

Intra-Day Market Moving News and Views
14 Jun 2016 03:22GMT

GBP/USD - ...... Cable erased yesterday's gain in New York after price rebounded from a near 2-month European low of 1.4116 to 1.4330 in New York.
Traders reacted by buying sterling in New York morning when certain newswire erroneously reported the 'Remain' camp was 6 points ahead and that resulted in a fierce short-covering rally, price briefly fell back to 1.4201 after latest poll results showed the 'Leave ' camp was ahead, traders were in no mood of selling the pound after intra-day wild swings.

Latest polls results on Reuters as follow :
"Leave" on 46 pct, "Remain" 39 pct -YouGov poll; "Leave" on 49 pct, "Remain" 48 pct -ORB poll; "Out" on 53 pct, "In" 47 pct -ICM polls and Sun says UK must set itself free from "dictatorial Brussels".
Offers and bids...forget about them for the time being.

Pay attention to a slew of U.K. inflation data at 08:30GMT, however, market reaction from these data will only be very temporary.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Jun 16: Intra-Day Market Moving News and Views USD/CAD

Intra-Day Market Moving News and Views
16 Jun 2016 00:02GMT

USD/CAD - ....... Reuters then reported Canadian growth is likely to be flat or slightly negative in the second quarter due to the impact of the Alberta wildfires before an outsized recovery takes hold in the third quarter, remarks by the Bank of Canada.

In a speech that served as an update to the central bank's most recent forecast in April, Governor Stephen Poloz said that on the whole, the economy was making progress as it adjusted to low oil prices.

Poloz said that with the growth is expected to be "very choppy", the second and third quarters could still see an average growth rate close to the April outlook.
In his prepared remarks he said that continued patience is required, but they have the right to be optimistic. His message is that the process has been uneven, and probably will remain so, but they are making real progress now. He continued to say that nonetheless, the slumping investment spending plans in the energy sector and the possibility that households will suddenly curb their spending amid high debt levels present risks to the outlook.

AceTrader - Best Intra-day Forex Trading Strategies
Provides 24-hrs Intraday and Daily forex trading signals & commentaries. Services started on Thomson Reuters since 1989.

 

[acetraderfx]

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

Intra-Day Market Moving News and Views
17 Jun 2016 01:52GMT

USD/JPY - ......The dollar fell to around a two-year low against the yen overnight after the BOJ held back from expanding stimulus as worries mounted over Britain's referendum next week on whether or not to stay in the European Union.
In Japan the MOF has jurisdiction over currency policy and intervention. The BOJ conducts intervention at the instruction from the ministry.

Japan has stayed out from the market since it last intervened in November 2011.
Japan's FinMin Taro Aso declined to comment when asked if the MOF and FSA have any contingency plans to avoid financial market turmoil in case of Brexit.

Reuters reported Aso on Friday fired off a warning shot against a recent rise in the yen, saying he was deeply concerned about "one-sided, rapid and speculative" currency moves and would respond urgently if necessary - a hint at possible yen-selling market intervention.

The latest jawboning - official comment intended to influence markets - comes as the yen hit multi-year highs versus the dollar and euro after the Bank of Japan stood pat on Thursday, despite market fears of global turmoil rout if Britain votes to leave the European Union in the June 23 referendum.
Officials from the Ministry of Finance (MOF), the Bank of Japan and the Financial Services Agency (FSA) would meet later today to discuss financial markets according to Aso.
While the government said the change in assessment was not a downgrade, it could fan more concerns that the BOJ will have difficulty reaching its 2 percent price target by March 2018.

Even as the BOJ stood pat, there were expectations that the central bank will ease further at its next meeting in July, when it issues fresh quarterly growth and inflation forecasts.
Some economists predict the central bank could take a three-pronged approach in July: increasing its already massive government bond purchases, buying more riskier assets and cutting rates further into negative territory.
Economists also worry that a firming yen, which makes imports cheaper, will further dampen inflation.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates