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

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

Intra-Day Market Moving News and Views
28 Sep 201603:30GMT

USD/JPY - .... Dlr rebounded ahead of Tokyo open due to initial broad-based yen selling after Tuesday's 'roller-coaster' session. Price climbed to intra-day high of 100.66 following hawkish comments by San Francisco Fed President John Williams (see 01:00GMT update).

Yesterday's rally from Asian 1-month low of 100.09 to 100.99 at European open and then subsequent cross-inspired selloff to 100.20 in New York morning suggests correction is over, however, intra-day rebound should bring further choppy sideways swings before prospect of another fall later today.
Offers are tipped at 100.70/80 and more above with stops reported above 101.00. Initial bids are noted at 100.30-20 and more below with stops building below 100.00.

Pay attention to release of U.S. Aug durable goods data due out at 12:30GMT.

Today is called 'Fed talk', pay extra attention to speeches by many Fed officials starting with Fed Kashkari at 12:45GMT, testimony by Fed Chair Yellen before the Committee on Financial Services at 14:00GMT, Fed's Bullard at 14:15GMT, Fed's Evans at 17:30GMT and Fed's Mester at 20:30GMT.

 

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AceTraderFx Sept 29: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
29 Sep 2016 02:11GMT

USD/JPY - ..... The pair took centre stage in Asia on Thursday. Although price traded narrowly in thin Australian morning after a rebound from New York low of 100.45, dlr jumped ahead of Tokyo morning on broad-based yen-selling as o/n sharp rse of nearly 6% in oil price following a surprise OPEC agreement to cut production boosted risk appetite.
Dlr easily penetrated 100.99 res and rallied to as high as 101.41 in Asia after tripping a series of stops above 101.00 and then 101.30.

Expect price to maintain a firm undertone after intra-day break of 100.99 res (now sup) and bids have been raised to 101.25 and more below with some stops touted below 101.00.
Some offers are tipped at 101.40/50 and more at 101.75/80 with more stops reported above 102.00.

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AceTraderFx Sept 30: Dlr trades narrowly in subdued Asian morning after yesterday's bloodbath !

Intra-Day Market Moving News and Views
30 Sep 2016 02:18GMT

USD/JPY - ...... Dlr trades narrowly in subdued Asian morning after yesterday's bloodbath !
Just when one thought (ourselves included) to be on 'risk on' mode following dlr's impressive intra-day rally in Asia, Europe and then subsequent gain to session high of 101.84 in New York morning following mildly upbeat U.S. data, the pair tumbled due to broad-based yen-buying on risk aversion following market news some clients (funds) of the embattling Deutsche Bank have pulled extra cash out.
Dlr fell to as low as 100.84 b4 staging a minor recovery to 101.25 in Asia.

Looks like it is risk-off day today as the antipodean currencies fell briefly below o/n New York lows, suggesting dlr/yen would be sold on recovery as yesterday' sharp fall from 101.84 signals at least the 1st leg of correction from Tuesday's 1-month trough at 100.09 has ended.
Offers are tipped at 100.25/35 and more above, some bids are noted at 100.95-85 with some stops below there.
However, more buying interest is reported at 100.50-40 n more below with fairly large stops building below the 100.00 mark.

There is still a slew of U.S. data due out later on this final day of the week as well as month as well as Q3 of 2016, starting with personal consumption expenditure, personal spending, personal income, then Chicago PMI and last but not least, University of Michigan consumer sentiment index.

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AceTraderFx Oct 3: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
03 Oct 2016 02:45GMT

USD/JPY - ..... Dlr repeated Friday's 'jumpy' behaviour in Asian trading on Monday. Despite initial cross-inspired gain to 101.60/61 at Tokyo open due to gain in the Nikkie , profit taking knocked price to 101.21 and all of a sudden, price spiked up to intra-day high of 101.65 before coming off straight away, suggesting this move was possibly linked to a bid order execution.

Despite Friday's fall from 101.79 (Asia) to 100.75 in Europe, subsequent rebound in New York to 101.44 near Friday's close n intra-day gain to 101.65 suggests pullback from last week's 101.84 (Thursday) has ended, so buying dlr on dips is favoured.

Offers are tipped at 101.60/70 and ore above with stops reported at 101.90/00.
Initial bids are noted at 101.10-00 and more below with stops below 100.70.

As dlr did not show much reaction (as usual) to Japan's tankan report, pay attention to U.S. economic data later today starting with Markit mfg PMI n then construction spending data.

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

Intra-Day Market Moving News and Views
04 Oct 201602:00GMT

USD/JPY - ...... Dlr rallied ahead of Tokyo open on broad-based yen selling as release of upbeat U.S. ISM mfg index boosted risk sentiment, price easily penetrated last week high and also strong res at 101.84 and climbed to intra-day top of 102.21 after tripping stops above 101.85, suggesting the pair is likely to extend recent cross-inspired gain after minor consolidation.

Bids have been raised to 101.90-101.85 and more below with stops below 101.60.
Some offers are tipped at 102.20/30 and more above with stops touted above 102.80.

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AceTraderFx Oct 5: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
05 Oct 2016 03:02GMT

EUR/USD - 1.1224.. Euro trade with a firm undertone after yesterday's wild swings in New York morning session. Despite falling in tandem with sterling in Europe to 1.1151 and then a brief drop to 1.1138 on hawkish comments by Richmond Fed President Jeff Lacker (he is not a voting FOMC member in 2016), euro 'jumped' on BLP report about ECB's QE tapering plan (see 00:40GMT update).
Although price quickly retreated to 1.1177, renewed buying emerged and lifted price.

As mentioned in previous update, traders are ignoring subsequent Reuters report an ECB media officer tweeted later on Tuesday, however, that the ECB's decision-making body has not discussed reducing the pace of its monthly bond buying. Therefore, do not get overly bullish on the euro as price may ratchet lower in European morning.
Ofers are tipped at 1.1230/40 and more above with stops reported at 1.1255/60, more stops are building above 1.1280. Initial bids are noted at 1.1200 and more below with stops below 1.1170.

Today is PMI day in the EZ starting with Italy's Markit services PMI, followed by the same fm France, Germany n EU n lastly, EU retail sales.

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AceTraderFx Oct 7: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
07 Oct 2016 03:10GMT

USD/JPY - ....... The pair pared (pun intended) this week's strong gain as the wild swings in sterling ahead of Asian open triggered a wave of yen-buying on risk aversion, some may say traders are taking risk off the table especially ahead of release of the key U.S. payrolls later in the day.

Although price fell to 103.54 in Asia after hitting a 1-month high of 104.16 in New York morning following upbeat U.S. weekly jobless claims (first-time filings for U.S. unemployment benefits unexpectedly fell to a near 43-year low), buying interest emerged and lifted dlr, suggesting range trading is in store until European open.

Offers are tipped at 104.00/10 n more above with stops above September's peak at 104.32.
Initial bids are noted at 103.55-45 and more below with stops touted below 103.30, there is market chatter of stops building below 103.00.

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

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

GBP/USD - 1.2343.. Cable fell ahead of Asian open on sterling-bearish news. Reuters reported Britain could lose up to 66 billion pounds a year under a "hard Brexit", The Times reported citing leaked government papers.
GDP could fall by as much 9.5 percent if Britain leaves the European Union compared with if it stays within the union, The Times reported.
The 66-billion-pound figure was in a draft cabinet committee paper which was seen by The Times.

A report by consultancy firm Oliver Wyman earlier this week said Britain's financial industry could lose up to 38 billion pounds in revenue in a 'hard Brexit'.
A quarterly survey of 7,000 businesses by the British Chambers of Commerce (BCC) on Monday showed that Business investment and turnover confidence in the UK had hit four-year lows.
Another survey by Deloitte reported that chief financial officers in major British firms reported only a partial rebound in business morale after a post-Brexit vote nosedive.

Retailers were starting to mitigate the impact of higher import costs due to the fall in the value of the pound, she said in a statement, adding to signs that prices are likely to rise following the EU referendum in June and eat into spending power.
The BRC added its voice to a chorus of business groups who are calling on Prime Minister Theresa May to minimise the impact of Brexit on the economy.

On a like-for-like basis, stripping out changes in the amount of retail space open to shoppers over the past 12 months, sales rose by an annual 0.4 percent in September after falling by 0.9 percent in August.
Over the three months to September, total sales were up 1.0 percent, higher than in most of 2016 but slower than in 2015.

Separately on Tuesday, credit card firm Barclaycard sounded more upbeat, saying consumer spending grew by 3.6 percent in the July-September period, speeding up from 2.8 percent and 3.1 percent in the first and second quarters of 2016.
Barclaycard also said its measure of consumer confidence in the British economy hit its highest level since it began tracking it in 2014, with 48 percent of people saying they feel upbeat, up from 34 percent in the second quarter.

That confidence contrasts with the mood among many employers. Surveys published on Monday showed weak investment intentions as the prospect of Brexit weighs on firms.

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

Intra-Day Market Moving News and Views
12 Oct 201603:05GMT

GBP/USD - 1.2322.. Sterling took centre stage in Asia trading and staged a spectacular rally from 1.2107 in early Australian morning to as high as 1.2326. Traders attributed to cable's stellar performance on early sterling-supportive report on Bloomberg.

BLP reported PM Theresa May has accepted that Parliament should be allowed to vote on her plan for taking Britain out of the European Union, but asked lawmakers to do it in a way that gives her space to negotiate.
The decision seemed to calm investors after they dumped the pound on concern May was taking a gung-ho approach to the negotiations. The currency took a beating after May signaled her intention to put immigration curbs before the City of London's interests in pulling Britain out of the European Union.

Parliament will debate on Wednesday a motion from the opposition Labour Party calling for a "full and transparent debate on the government's plan for leaving the EU" and for Parliament to be able to "properly scrutinize that plan" before she begins formal talks. The request is supported by some lawmakers from May's own Conservative Party.

In response, May late on Tuesday tabled an amendment that effectively accepted the motion, adding that there shouldn't be an attempt to block Brexit or "undermine the negotiating position of the government."

A look at the debate about the role of Parliament in Brexit and why it matters.

The pound is the world's worst-performing major currency against the greenback this month, sinking more than 5 percent. The currency clawed back some ground in early Asian trading on Wednesday, gaining 1.3 percent.
Against this backdrop, a London Court this week will rule whether May can trigger Article 50 of the Lisbon Treaty, which starts an exit, without approval from her fellow lawmakers.

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AceTraderFx Oct 13: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
13 Oct 201603:15GMT

USD/JPY - 103.65.. Despite continuing its recent winning streak and touching a fresh 2-month peak of 104.64 shortly after Tokyo open, profit taking then emerged n knocked price lower, intra-day decline accelerated as the Nikkie moved into the black as downbeat China trade data spoofed investors and in turn led to broad-based yen-buying on risk aversion, the pair tumbled to as low as 103.56 before stabilising.

You don't need to be currency guru to predict recent usd's upmove has made a temp. top today and this high print will be marked as this week's top too.
Expect range trading to take place until European open and offers are tipped at 104.00/10 and more above with stops above 104.65.
Some minor bids are noted at 103.60-50 with stops touted below 103.10, suggesting selling the pair on intra-day recovery is favoured.

No major U.S. economic data are due out except the usual weekly jobless claims which gave the buck a lift last week but any corrective bounce should be views as a good selling opportunity for further downward correction to continue later. Market focus will be Fri's U.S. retail sales but this is tomorrow's business.

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