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

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AceTraderFx Sept 13: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
13 Sep 2016 01:16GMT

EUR/USD - 1.1233.. The single currency went through a real 'roller-coaster' session in hectic Monday trading. Despite staging a short-covering rise to 1.1264 in European morning, price erased intra-day gain and fell to 1.1211 on broad-based selling in eur vs yen, gbp and the chf before stabilsing ahead of New York open.
Price moved narrowly in New York morning as traders awaited the final speech ahead of next week's key FOMC meeting by Fed's Brainard, the euro briefly jumped to session high of 1.1268 when Brainard maintained her usual dovish stance, however, USD rebounded broadly as market participants reckoned 1 dovish vote out the 10 voting members at next Wednesday's decision making meeting does mean there will be no rate hike by the Fed.

Euro's intra-day softness in Asia suggests said yesterday's 1.1268 high would hold from here and if price can not move above this res level by New York morning, market participants may well test euro's downside to look for the path of 'least resistance'.

Offers are tipped at 1.1255/65 and more above with stops reported at 1.1290, initial bids are noted at 1.1220/10 with fairly large stops below 1.1190, suggesting selling euro on recovery is still favoured.

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AceTraderFx Sept 14: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
14 Sep 201602:35GMT

USD/JPY - ..... Dlr rallied in New York afternoon session on media report the BoJ is ready to step up its monetary easing measure at next week's BoJ meeting, price jumped above New York morning high of 102.43 to 102.75.

Despite initial retreat to 102.43 on profit taking just ahead of Tokyo open, renewed broad-based selling in yen sent dlr higher to 103.20 after tripping stops above 102.80 and last week's top of 103.06.

Having said that, dlr's intra-day retreat suggests consolidation is in store as price has overshot to the upside even after Reuters confirmed Nikkei business daily reported that the BOJ plans to make its controversial negative interest rate policy the centre piece of future monetary easing, promising to weigh further cuts as expansions to asset buying near their limits.

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AceTraderFx Sept 15: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
15 Sep 2016 01:39GMT

GBP/USD - ..... Cable jumped in o.n New York session on short covering ahead of MPC rate decision today. Reuters reported earlier the Bank of England is expected to say on Thursday that it will still probably cut interest rates to a fraction above zero later this year, despite signs it overestimated the initial shock to Britain's economy from June's Brexit vote.
The BoE's nine rate-setters probably voted unanimously at their September meeting to keep Bank Rate at 0.25 percent, the lowest level in the BoE's 322-year history, according to a Reuters poll of economists.

The Bank will probably also signal that a further cut is likely the next time it meets, in November, as it to tries to help the economy cope with the referendum decision in June to leave the European Union.
When the BoE stepped in with a stimulus push on Aug. 4, it had little concrete data on the impact of the Brexit vote. But since then signs have grown that the economy, while still heading for a sharp slowdown, weathered the initial shock.

Governor Mark Carney, who has been accused by Brexit supporters of being alarmist with his warnings about the consequences of a "Leave" vote, said earlier this month that growth might slow to around 0.3 percent in the third quarter.
That would be slightly less severe than the 0.1 percent crawl that the BoE had expected but half the pace of growth in the April-June period.

The Bank's Monetary Policy Committee is expected to stick with the other emergency measures it announced last month although some of its members might again voice their objections.
The MPC is likely to reiterate that the Brexit uncertainty will drag on the economy as Britain and the EU thrash out a new relationship over the next couple of years, probably resulting in less access for British exporters to the EU's single market.

Another likely drag will come from a rise in inflation triggered by the slump in the value of the pound after the referendum. Although that could help exporters, it is likely to push up inflation, hurting the spending power of consumers.

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AceTraderFx Sept 19: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
19 Sep 2016 04:18GMT

EUR/USD - ..... Despite closing a the day's low on Friday due to usd's broad-based rally which started in NY morning following release of mildly upbeat U.S. CPI data, intra-day broad-based weakness in the usd (possibly in delayed reaction to New York bombing on Sun - see 00:06GMT update) suggests euro would gain temp. respite until European open before recent decline resumes.

Order book is fairly thin with some offers at 1.1175/80 and more above with stops reported above 1.1200.
Initial bids are noted at 1.1150-40 with stops below there, more stops are touted below daily sup at 1.1123.

EZ economic calendar is very thin with EU current account being the only data due out at 08:00GMT which is not expected to have any impact on the euro.

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

Intra-Day Market Moving News and Views
20 Sep 2016 02:14GMT

USD/JPY - ..... Dlr edges higher in subdued Asian morning. Some bargain buying is spotted by Japanese importers as Japanese financial markets reopen after yesterday's holiday, however, this week is an abbreviated week for Japanese traders as coming Thursday is another national day in Japan.

Despite yesterday's weakness to 101.58 in New York morning, usd's broad-based rebound in New York afternoon suggests consolidation with upside bias is in store and one can expect a bit of dlr short-covering to take place after decline from last week's high of 103.36 (Wednesday) to said Monday's low ahead of the 2-day Fed as well as BoJ monetary policy meeting.

Bids have been raised to 101.80-75 and more below with stops below 101.40, however, more stops are touted below September's bottom at 101.21.
Offers are tipped at 102.10/15 and more above with stops reported above 102.50, suggesting buying dlr on dips is the way to go.

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

Intra-Day Market Moving News and Views
21 Sep 201602:46GMT

USD/JPY - ..... Dlr remains under pressure on broad-based yen buying in nervous Tokyo trading as market awaits impending monetary policy decision from BoJ.

Many call today 'Super Wednesday' as 2 majors central banks (BoJ and then the Fed) will announce their rates decision at the end of a 2-day meeting.
Although many believe the BoJ would stand pat on its rates and may add further stimulus measures ahead of FOMC decision, if this is the outcome, then traders are expected to buy the yen pretty aggressively n only 'bold' action by BoJ Governor would spark off yen selling as market is short usd/long yen ahead of the BoJ's announcement which is expected to be made between now and Tokyo midday.

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

Intra-Day Market Moving News and Views
22 Sep 2016 02:27GMT

USD/JPY - 103.37.. Although dlr came under renewed selling pressure ahead of Asian open after extending yesterday's post-BoJ selloff from 102.78 to 100.30 in New York afternoon following Fed's unchanged rate decision, price weakened to intra-day low of 100.10 on stop-selling but lack of follow-though soon lifted the pair to 100.48, suggesting a temp. bottom is in place n range trading is in store until European open.

Offers are tipped at 100.50/60 with some stops above there, however, more selling interest is reported at 100.90/00. Initial bids are noted at 100.10-100.00 with some stops below there, more buying interest (from Japanese importers) is touted above 99.50.

After 'Super' Wed, U.S. will release of a slew of economic data starting with the usual weekly jobless claims, national activity index, monthly home price, existing home sales and Kansas City Fed mfg index.

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AceTraderFx Sept 23: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
23 Sep 2016 02:05GMT

EUR/USD - ..... Although the single staged an impressive rally in European session yesterday n later hit at high of 1.1257 in New York morning on active short-covering in the euro following usd's broad-based weakness in post-FOMC session on Wed, selling interest emerged n price later retreated to 1.1200 ahead of New York close, suggesting the 1st leg of correction from Wed's 5-week bottom at 1.1121 has ended there and consolidation is expected to continue in Asia and European morning.

Offers are tipped at 1.1230/40 and more at 1.1255/60 with stops reported above previous res at 1.1284/85.
Initial bids are noted at 1.1200 with stops below 1.1180, however, expect buying interest to emerge near 1.1160/65.

Pay attention to a slew of euro zone data in European morning.
Today is PMI day with France kicking off with France with GDP and Markit Mfg and Services PMIs, then the sames PMIs from Germany followed by the release of same PMIs from the EU.

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

Intra-Day Market Moving News and Views
26 Sep 201602:18GMT

USD/JPY - 100.85.. Despite Friday's rebound from 100.68 (Europe) to 101.17 in New York afternoon following hawkish comments by Fed's Rosengren, dlr came under selling pressure ahead of Tokyo open on renewed cross-buyng in yen and retreated to 100.71, suggesting near term sideways trading below 101.24 (Friday's Asian high) would continue with downside bias.

Offers are tipped at 101.00/10 and more above with stops reported above 101.30.
A mixture of bids and stops is noted at 100.70-65, however, more buying interest is touted above last week's 100.10 low with stops reported below 100.00.

Pay attention to release of U.S. eco. data starting with new home sales at 14:00GMT n then Dallas Fed mfg business index at 14:30GMT.
Last but now least, several FOMC members are scheduled to speak later today with Fed's Kashkari at 13:00GMT, Fed's Tarullo at 15:45GMT and then Fed's Kaplan at 17:30GMT.

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AceTraderFx Sept 27: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
27 Sep 201604:05GMT

EUR/USD - ...... Although euro continued its recent winning streak on Mon n climbed above last week's 1.1257 (Thurday) high to 1.1270 in European morning, helped by release of surprisingly upbeat Ifo business climate index, price climbed to session highs of 1.1279 in New York before paring intra-day gain on broad-based euro longs esp vs usd, yen and gbp.

Euro inched lower to 1.1239 at Asian open as market pared more long euro positions ahead of the televised U.S. presidential debate n traded narrowly, suggesting range trading below Mon's 1-week high would continue.
Offers are tipped at 1.1270/80 with stops above 1.1300, initial bids are noted at 1.1240-30 and more below with stops below 1.1220.
However, more buying interest is touted at 1.1200-1.1190 with stops reported below there.

On the economic data front, Germany will release import price, then Italy's industrial orders, industrial sales. Later today, Bundesbank board member Andreas Dombret will make a speech at a financial forum in Vienna at 15:00GMT.

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