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

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AceTraderFx Jun 30: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
30 Jun 201602:05GMT

USD/JPY - ...... Although the greenback extended yesterday's intra-day rise to 103.02 in Australia, profit-taking knocked price lower to 102.61 in Tokyo morning, despite the release of weak industrial output figures from Japan.

In Asia, investors should pay attention to the release of Japan's housing starts and construction output for May at 05:00GMT.
Later, focus for the greenback should turn into the weekly initial jobless claims from U.S. and Chicago PMI in New York morning, then the speech from Fed's Bullard (17:30GMT).

At present, bids are reported at 102.50-40 and more at 102.30-20 with mixture of bids and stops in the region of 102.10-101.90.
On the upside, offers are noted at 102.80-90 and then 103.00-10 with stops above there.

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AceTraderFx Jul 4: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
04 Jul 2016 03:16GMT

USD/JPY - .... Although short-term specs gave the greenback a brief bashing ahead of Asian open on stop hunting and pressured the pair briefly below Friday's 102.44 low to 102.43, lack of follow-through selling swiftly lifted price to 102.68, suggesting range trading is likely to continue in Asia.

As U.S. market is closed for Independence Day holiday, trading is likely to die down by European midday.
Friday's intra-day selloff from 103.40 (AUS) to as low as 102.44 in Europe n subsequent narrow move in New York session suggests a temp. top has been made there, so mentality today is to sell the pair on recovery for a retracement of last week's erratic rise from 101.41 (Monday).

Offers are tipped at 102.70/80 and more at 103.00/05 with stops building above 103.55.
Initial bids are noted at 102.45-102.35 with stops below there, more stops are touted below 102.00.

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AceTraderFx Jul 04: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
04 Jul 2016 09:05GMT

Euro hits intra-day low after downbeat Eurozone data, Reuters reported sentiment in the euro zone fell to an 18-month low in July, a survey showed on Monday, as investors and analysts fear a major economic fallout from Britain's vote last month to leave the European Union.

The Frankfurt-based Sentix research group's index fell to 1.7 from 9.9 in June. Analysts polled by Reuters has expected a reading of 5.0.
Statement from Sentix said that the Brexit vote at the end of June in the United Kingdom is having a very different impact globally in terms of economic expectations, investors are clearly differentiating and in addition to Switzerland, they see the euro zone as mostly affected. Therefore the euro zone economy is dangerously close to stagnation.

Reflecting those concerns, the sub-index measuring expectations fell to -2.0 from 10 in June, reaching its lowest level since November 2014. A sub-index measuring the euro zone's current condition fell to 5.5 from 9.8.

Sentix added that the European Central Bank (ECB) faces huge pressure from markets to act. A sub index measuring monetary policy expectations rose to 30.5 from 15.

The European Central Bank surprised many in March with interest rate cuts, additional monthly bond purchases and more cheap loans for banks designed as an incentive for them to lend more but left policy unchanged in April.

An index tracking Germany showed sentiment in Europe's largest economy fell to 18.4 from 20.7. Investors were sceptical about the outlook for the German economy and the index measuring expectations fell to 2.7 from 7.9.

This survey of 1,056 investors was conducted end of last week, between June 30 and July 2.

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Reuters reported Sharp Fall In British Business Confidence

AceTraderFx Jul 05: Intra-Day Market Moving News and Views GBP/USD
Intra-Day Market Moving News and Views
05 Jul 2016 01:05GMT

Yesterday at closing GBP/USD bids were seen at 1.3250/60 and more below at 1.3220/30 with stops building up below there whilst initial offers were noted at 1.3370/80, suggesting further choppy trading would be seen.

Reuters just reported confidence among British businesses fell sharply following the vote to leave the European Union, a survey showed on Tuesday, reinforcing the view that the economy could be in for hard times after the historic decision.
The number of businesses pessimistic about the economy over the next twelve months jumped to 49 percent in the week following the referendum from 25 percent before the vote outcome, according to a survey conducted by YouGov and the Centre for Economics and Business Research (Cebr).

Britain's vote to withdraw from the 28-nation club has prompted political chaos, a sharp drop in sterling and clouded the economic outlook.
Against this backdrop, Bank of England Governor Mark Carney has said it would likely need to provide more stimulus to the economy over the summer.

The survey of 1,000 British-based companies also showed 26 percent of respondents were pessimistic about their own business outlook, up from 16 percent before the referendum.
Businesses are increasingly downbeat about their operations in the year ahead, with expectations for domestic sales, exports and capital investment all dropping sharply, it showed.

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AceTraderFx Jul 06: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
06 Jul 201602:02GMT

USD/JPY - ..... Despite staging a minor short-covering recovery after New York close following hawkish comments by some Fed officials (see previous updates for details), the pair tumble ahead of Tokyo open as intra-day selloff in the sterling prompted fresh round of yen-buying by investors on risk aversion.
The intra-day weakness in the Nikkie (currently down 3% at 15192) suggests market remains in 'risk off' mode. Therefore, selling the greenback is recommended.

Offers have been lowered to 101.00/10 and more above, some bids are noted at 100.50-40 and more below with stops touted below 100.00.

Although U.S. will release some eco. data in New York morning, market may pay more attention to Fed minutes for June later in the day at 18:00GMT

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U.S. benchmark and Treasury yields hit record lows, with some investors betting the Fed would keep rates on hold through 2017

AceTraderFx Jul 07: Intra-Day Market Moving News and Views
07 Jul 201601:02GMT

USD/MAJORS -U.S. benchmark and long-dated Treasury yields hit record lows, with some investors betting the Fed would keep rates on hold through 2017. The dollar, which has gained more than two percent against a basket of currencies since the Brexit vote and could weigh on U.S. exporters, weakened slightly following publication of the Federal minutes, see below.
Before the British vote, the Federal had signaled two interest rate hikes would likely be needed this year to keep the U.S. economy from eventually overheating.

But since the British referendum, several Fed policymakers have said the uncertainty warrants caution, including New York Fed President William Dudley who said on Tuesday the Fed needed to be patient on rate increases and that it was too soon to know the fallout from the British decision.
A severe slowdown in hiring during May and weak business investment even outside the sagging energy sector had raised questions about the U.S. outlook even before the Brexit vote.
Still, in the minutes of the June meeting, many Fed policymakers who participated in the policy discussion stressed the sharpness of the hiring slowdown could be statistical noise, and most argued the economy would be ready for rate increases unless a financial or economic shock knocks America off course, according to the minutes.

Since the Brexit vote, the British pound has plunged 13 percent against the dollar, including a 1 percent decline on Wednesday, and investors and policymakers are watching out for further signs of financial stress that could hit economic growth in America and worldwide.
Fed released minutes of its previous meeting overnight. Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain's vote on EU membership, according to the minutes of the Fed's June policy meeting released on Wednesday.

The minutes of the June 14-15 meeting, which took place ahead of the June 23 referendum in which Britons voted to leave the European Union, showed widespread unease over the so-called "Brexit" vote, including among voting members on the rate-setting Federal Open Market Committee.

Worries have only intensified since the vote and Fed Governor Daniel Tarullo cited the rise in uncertainty on Wednesday when he argued for holding off on rate hikes until inflation had turned decisively higher.
At the June policy meeting, policymakers also cited a severe slowdown in hiring by U.S. employers as a reason for leaving interest rates steady last month, the minutes showed.

The Brexit vote shocked investors and triggered $2 trillion in losses in global stock markets the day after the referendum.
Anxieties remain, with global financial conditions tightening as investors anticipate it could take years before Britain and the EU agree to new rules on finance, trade and immigration.

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AceTraderFx Jul 08: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views

08 Jul 2016 01:11GMT

USD/JPY - ..... Japan government data showed today gains in Japanese price-adjusted real wages slowed further in May, a sign upward pressure on pay rises may be waning and adding to headaches for policymakers who want wage gains to spur private consumption.
Wage growth is key for Prime Minister Shinzo Abe's reflationary Abenomics policy, which aims to end two decades of deflation and stagnation. Abe has repeatedly urged companies to increase worker compensation, as tepid pay rises may make households tighten their purse strings.

Real wages, adjusted for inflation, rose 0.2 percent in May from a year earlier, less than a revised 0.4 percent annual increase in April, data from the labour ministry showed.
Wage earners' nominal cash earnings fell for the first time since June 2015, dipping 0.2 percent this May from a revised 0.0 percent annual change in April, the data showed. Previous data showed nominal cash earnings rose an annual 0.3 percent in April.

Regular pay, which determines base salaries, dropped an annual 0.1 percent. Overtime pay - a barometer of strength in corporate activity - rose 0.6 percent in May, but less than the revised 1.1 percent gain the previous month, the data showed.
Special payments fell 4.1 percent in May, compared with a revised 1.7 percent drop in April. Because special payments are generally small, even a slight change in the amount can cause big percentage changes.

The government data also shown Japan's current account surplus narrowed slightly in May from a month earlier as a strong yen curbed gains from investment overseas, while travel income hit a record surplus due to a rise in foreign tourists.
The Ministry of Finance said the current account surplus, which measures the flow of goods, services and investments into and out of the country, stood at 1.81 trillion yen ($17.96 billion), down from 1.88 trillion yen in April.
It was the 23rd straight month of surplus, the ministry said.
Economists polled by Reuters had forecast a surplus of 1.75 trillion yen.

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AceTraderFx Jul 11: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
11 Jul 2016 01:10GMT

British finance minister George Osborne will meet some of Wall Street's biggest investors in New York on Monday to urge them to stick with Britain despite last month's vote to leave the European Union, his office said.
The vote for Brexit has pushed the pound to 31-year lows against the dollar and many investors have warned that Britain - until this month the world's fifth-largest economy - faces years of uncertainty over everything from trade to investment.

In an opinion piece in the Wall Street Journal, Osborne said he wanted to strengthen trade ties with the United States, Canada and Mexico, and had spoken several times in the past two weeks to House of Representatives Speaker Paul Ryan. Adding Britain and the United States were the biggest foreign investors in each other's country.

Last month's vote has forced Britain, which has negotiated its trade deals through the EU for decades, to rethink its ties with the rest of the world, but reaching any new deals may prove hard while Britain's relationship with the EU is in flux.

At a meeting with Osborne last week, five U.S. investment banks promised that they would try to help London keep its top spot as an international financial centre - though one bank at the meeting privately warned that uncertainty about Britain's future EU trade ties made further investment hard.
Osborne's visit to New York will be the first of a series of trade missions to key global financial and political centres, including Singapore and China later this month, his office said.

He is also due later this week to meet U.S. Treasury Secretary Jack Lew in London and hold talks with other EU members' finance ministers in Brussels.
Last week British Business Secretary Sajid Javid began preliminary talks with India about a bilateral trade deal, and Osborne met senior Chinese officials, agreeing to work to foster stronger ties between the two countries.
New Zealand Trade Minister Todd McClay said on Monday he wanted to negotiate a trade deal with Britain but timing would depend on discussions Britain first needed to have with the EU.

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AceTraderFx Jul 12: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
12 Jul 2016 01:11GMT

GBP/USD - ..... Reuters reported a survey on British consumer spending slowed in June as bad weather added to uncertainty around the June 23 referendum on Britain's membership of the European Union. There were also fresh signs of pessimism among the country's manufacturers in the run-up to the referendum, but a leading credit card firm said spending rose immediately after the vote.

The British Retail Consortium said spending rose by 0.2 percent last month compared with June of last year, slowing sharply from growth of 1.4 percent in May.
Clothing and footwear were hit as rain dominated the weather. On a 12-month basis, clothing recorded its slowest growth since December 2009 and footwear saw its slowest growth since records began in 2009.

On a like-for-like basis, stripping out changes in the amount of retail space open to shoppers over the past 12 months, the BRC said sales fell by 0.5 percent in June versus a year ago, compared with a 0.5 percent increase in May.
Britain's decision to leave the EU is expected to hurt the economy and there have been signs of a sharp hit to confidence among consumers and businesses.

A survey published by the British Chambers of Commerce on Tuesday gave another downbeat picture of the outlook.
The balance of manufacturers who expect turnover to improve fell to its lowest level since the third quarter of 2012 while a similar measure for the services sector remained unchanged at a historically low level, according to the survey which was conducted between May 23 and June 13.

But it wasn't all gloom and doom for retailers.
Consumer spending grew by 3.6 percent in May and June - its strongest growth since January, according to Barclaycard, which processes nearly half of Britain's credit and debt card transactions.
In the week after the referendum, spending grew by 2.1 percent although discretionary spending in pubs and restaurants fell, Barclaycard said.

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

Intra-Day Market Moving News and Views
13 Jul 2016 03:00GMT

USD/JPY - ..... In total stark contrast to dlr's spectacular rally seen on Monday and Tuesday (this 2-day rise was the biggest dlr's gain since 2014), the pair fell just ahead of Tokyo open.
Intra-day accelerated when Japan's government spokesman denied "helicopter money" as part of next stimulus measure, dlr later tumbled to as low as 103.95 before stabilising.

Looks like yesterday's 2-week high print at 104.99 would continue to hold and choppy trading with downside bias is likely as dlr longs established this week will be unwound, therefore, selling the pair on intra-day recovery is favoured.

Offers are tipped at 104.35/45 n more at 104.70.
Initial bids are noted at 104.00-103.90 with some stops touted below 103.70.

Yesterday, Abe's meeting with former U.S. Federal Reserve Chair Ben Bernanke, a proponent of "helicopter money" policies, also fueled speculation that the government's stimulus package could be funded by the Bank of Japan's easing.
Today, The Sankei newspaper reported Etsuro Honda, an economic adviser to Prime Minister Shinzo Abe, told the premier that now was a good time to embark on the policy, in which money is printed and directly handed to the private sector to stimulate the economy.
While Chief Cabinet Secretary Yoshihide Suga said that the Bank of Japan would decide monetary policy steps based on market movements and economic environment.

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