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

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AceTraderFx Nov 10: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
10 Nov 2016 02:07GMT

USD/JPY - ..... A piece of downbeat Japan's news. Reuters reported Japan's core machinery orders fell more than expected in September and the outlook pointed to more weakness, suggesting the economy may underperform as businesses show reluctance to invest amid sluggish demand at home and abroad.

Core machinery orders, a highly volatile data series regarded as an indicator of capital spending six to nine months ahead, fell 3.3 percent in September from the previous month, Cabinet Office data showed on Thursday.
That was bigger than a 0.8 percent decline expected by a Reuters poll of economists, following a 2.2 percent drop in August. However, orders rose 7.3 percent in July-September.

The outlook was even more gloomier with companies surveyed by the Cabinet Office forecasting that core orders will fall 5.9 percent in October-December from the previous quarter.
That suggested capital expenditure may have a net negative impact on near-term gross domestic product growth in the world's third biggest economy.
Japan's economy likely expanded for a third straight quarter in July-September, though growth is set to remain fragile.

The Cabinet Office will announce the GDP data on Nov. 14 at 8:50 a.m.(2350 GMT, Nov. 13).
The Japanese economy has failed to make much headway this year as weak demand at home and abroad has hobbled its recovery, forcing the Bank of Japan to once again push back the timing for hitting its 2 percent inflation target.

Prime Minister Shinzo Abe's government has been counting on capital expenditure to drive private sector-led growth, seen as crucial for putting the economy on a sustainable footing, but businesses have been slow to invest because of sluggish demand, yen's gains and external headwinds.

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AceTraderFx Nov 11: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
11 Nov 2016 07:08GMT

EUR/USD - 1.0913.. Euro gained respite in fairly quiet/subdued Asian session as Asian traders are pretty tired after this week's wild swings.
Although price initially dipped to 1.0876 after Asian open, buying interest emerged above yesterday's 1.0865 low and lifted price from 1.0876 to 1.0923, suggesting sideways move is likely to continue in Europe.

Euro may well edge higher on short covering as market will quieten down after European afternoon as financial markets in U.S. and Canada are closed for holiday today. Germany will shortly release October CPI data.

Bids are noted at 1.0875-65 n more below (there has been talk of option barrier at 1.0850) with stops reported below 1.0840.
Offers are tipped at 1.0940/50 with stops above 1.0960, more stops are touted above 1.1000, suggesting selling euro on intra-day recovery is still recommended.

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AceTraderFx Jun 18 : Intra-Day News and Views USD/CHF

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

USD/CHF - ...... Although dlr climbed a fresh 8-month high of 1.0105 in Asia today, the SNB were expressing their dismay over recent Franc's strength vs the euro. Reuters reported in NY afternoon Thursday the Swiss National Bank is active in the currency markets around the clock to check upwards pressure on the Swiss franc which remains "significantly overvalued", governing board member Andrea Maechler said on Thursday.

The central bank has increased its expertise in the foreign exchange markets and electronic trading in recent years, Maechler told a money market event in Geneva & it been selling francs in the foreign exchange markets this year, with sight deposits - seen as a proxy for its interventions - rising to record levels.

The bank's foreign currency assets ballooned to 666 billion Swiss francs ($663.61 billion) at the end of September, a rise of 31 percent since the bank scrapped its currency limit of 1.20 francs to the euro in January 2015.
It confirmed it was active in the markets after Britain's vote to quit the European Union in June, although it declined to comment on speculation it had entered the market after Donald Trump won the U.S. presidential election this month.

Governing board alternate member Dewet Moser suggested there were limits to how far the SNB could intervene.
The SNB charges banks 0.75 percent on excess deposits to help ward off interest in the franc, which is sought as a safe haven by investors in times of economic uncertainty.

Almost all Swiss banks have so far held off from imposing negative rates on retail customers, although PostFinance last week said it would start charging private customers for deposits of more than 1 million francs.
Maechler defended the policy, saying the SNB's negative interest rates and foreign currency interventions were "two mutually reinforcing measures, which are having the desired effect.

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

Intra-Day Market Moving News and Views
21 Nov 201603:06GMT

USD/JPY - ..... Dlr maintains a firm undertone in Asian trading. Price opened below Friday's New York high of 110.95 and edged higher to a fresh 5-1/2 month peak of 111.12 in Australia, although the pair retreated to 110.65 on usual yen-buying by Japanese exporters (on hedging to lock in profit), renewed buying emerged and lifted price to 111.00/03 at Tokyo midday.
Despite dlr's firmness, intra-day usd's broad-based retreat vs other G7 currencies suggests price is unlikely to yield further strong gain in Europe as risk has increased for a much-needed minor correction to take place, possibly in European morning.
Offers are tipped at 1.1110/20 with some stops above there, more selling is touted below daily res at 111.45.
Bids are noted at 110.706-0 and more below with stops reported below 110.40.

U.S. calendar is pretty light today with Chicago national activity for Oct being the only data due out at 13:30GMT.
Also, no Fed officials are scheduled after last week's bombardment, so technical trading may prove useful in today's session.

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AceTraderFx Nov 22: Intra-Day News and Views EUR/USD

intra-Day Market Moving News and Views
22 Nov 201602:04GMT

EUR/USD - ..... Reuters overnight news on ECB, two of its top officials said it needs to continue supporting the euro zone economy with its ultra-loose policy, and cementing expectations for an extension of the ECB's bond-buying scheme next month.
The ECB will decide on Dec. 8 on whether and how to extend its 80 billion euros ($85 billion) monthly bond purchases. Sources have told Reuters the programme is all but certain to continue beyond its current March deadline.

President Mario Draghi told a European Parliament committee on Monday that ECB needed to maintain its current level of monetary support to bring euro zone inflation back to its target of almost 2 percent.
Euro zone inflation was 0.5 percent last month and is expected to rise beyond 1 percent early next year, mainly due to a stabilisation in oil prices.

Speaking in Munich, ECB Executive Board member Benoit Coeure said the time to start winding down the ECB's extraordinary policy accommodation had "not yet" come and the Bank needed to see a sustained rebound in inflation first.
Market-based gauges of inflation expectations have surged over the past two months and particularly since Donald Trump's U.S. election victory, which has spurred investor bets on greater fiscal spending in the United States.
But Draghi cautioned on Monday one should look beyond the market reaction to Trump's win, which will have long-term consequences that are difficult to predict.
Now sitting on more than a trillion-euros worth of government bonds, the ECB is looking for ways to ensure it can continue to find assets to buy in the coming months if its programme is extended.

Coeure said the ECB was far from having to contemplate buying stocks and had never discussed such option, which has been adopted by the Bank of Japan.
ECB sources have told Reuters one possible change being considered would see the ECB buying fewer bonds from countries where scarcity is starting to emerge, such as Germany.

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AceTraderFx Nov 23: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
23 Nov 2016 01:35GMT

EUR/USD - ...... A piece of o/n news on Greek bailout talks worth noting. Reuters reported Greece will continue talks with international creditors on fiscal and labour reforms, aiming to wrap up the second review of its bailout programme by early next month ahead of a euro zone finance ministers' meeting, government officials said on Tuesday.

Mission chiefs of the creditor institutions overseeing the programme's implementation - the euro zone's ESM rescue fund, the European Central Bank, the International Monetary Fund and the European Commission - left Athens on Tuesday, leaving remaining issues to be resolved by technical staff and via teleconference.

Germany's Sueddeutsche Zeitung reported that the finance ministers of Germany, France, Italy, Spain and the Netherlands planned to meet in Berlin on Friday with IMF officials for talks on Greece's debt crisis, ahead of a euro zone ministers' meeting on Dec. 5 to discuss short-term debt relief for Greece.
Government spokesman Dimitris Tzanakopoulos told reporters that Athens could not compromise on labour reforms or adopt new austerity measures.
Despite pre-election pledges to end austerity, Prime Minister Alexis Tsipras signed up to a new bailout package with conditions in July last year, the third since the crisis broke out in 2010.

Athens now wants a swift conclusion of its second assessment to qualify for more debt relief and inclusion in the ECB's bond-buying programme early next year, which could pave the way for it to regain market access by 2018.
But disagreements on fiscal targets and unpopular labour reforms, including collective bargaining, a mechanism to set the minimum wage and giving companies more freedom to lay off workers, have clouded Greece's hopes.

Reforms in the energy sector were also among the sticking points in the talks.
Greece has to open up its natural gas market and reduce state-controlled utility Public Power Corp's DEHr.AT share of the electricity market from about 90 percent to below 50 percent by 2020.

There has at least been enough agreement with the creditors on next year's fiscal gap to enable the government to submit its final budget draft to parliament on Tuesday. It aims for a primary surplus of 2.0 percent of economic output in 2017.

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AceTraderFx Nov 24: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
24 Nov 2016 02:50GMT

USD/JPY - ..... The pair trades narrowly in subdued Asian morning even though Japanese traders returned from Wednesday's market holiday. Price moved just below Wed's 7-1/2 month peak at 112.98 and Asian players are reluctant to take dlr higher after yesterday's spectacular rally from 111.12 to as high as 112.98 on the back of a surprisingly robust U.S. durable goods order and other eco. data, the market has priced in an almost 100% certainty of a rate hike by the Fed in Dec and with U.S. stocks market reaching record highs and the Nikkie at multi-month peak today, selling the yen vs its peer currencies is the way to go.

Having said that, despite aforementioned bullish factors supporting the case for a higher dlr, as U.S. financial markets are closed today for Thanksgiving Day and may traders will be off on Friday, thin market conditions will make trading a bit difficult as the dlr can easily go down sharply on long liquidation.

For now, initial bids are noted at 112.40-30 and more below with stops reported below 113.00.
On the upside, offers are tipped at 112.90/00 with some stops touted above there.

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AceTraderFx Nov 25: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
25 Nov 2016 02:07GMT

EUR/USD - 1.0555.. Euro is trading a tad higher vs where it was in Asian morning 24 hours ago. Although euro bears gave the single currency another bashing in early European trading Thur n knocked the pair to 1.0518, a 20-month bottom, however, lack of follow-through selling quickly lifted price and euro rallied to 1.0586 after tripping stops above 1.0566/70, however, price quickly retreated once stop-buying was over and fell back to 1.0543 b4 moving sideways in holiday-thinned North American session.
Offers are tipped at 1.0560/70 and more above with stops above 1.0600.
Bids are noted at 1.0530-20 and more below with market chatter of a fairly large option barrier at 1.0500.

After yesterday's release of important German Ifo and Gfk data, traders may show relatively muted reaction to release of France's consumer confidence, Italy's industrial orders n retails sales during European morning.

Despite marginal weakness to 1.0539 in Asia as intra-day rally in dlr/yen has led to a bout of broad-based usd-buying, buying interest emerged and euro inch higher again, suggesting choppy sideways swings above 1.0518 low would continue.

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AceTraderFx Nov 28: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
28 Nov 2016 01:14GMT

EUR/USD - .....Saturday, European Central Bank Executive Board member Benoit Coeure said on Greece's bailout performance review is progressing well and its timely conclusion will be a key factor in including the country's bonds in the ECB's asset buying scheme.

Greece's official creditors are assessing its performance against reforms and fiscal targets set in its bailout programme of up to 86 billion euros ($91.02 billion) agreed last summer, its third since its debt crisis exploded in 2010.
The Eurogroup of euro zone finance ministers is scheduled to meet on Dec. 5 to take stock of the progress made and set a timeline for the completion of the review.
Greek government officials said this week that there were still differences between Athens and its lenders on fiscal targets and labour and energy reforms.
Coeure said it was "vital" for Greece that the financial aid programme which ends in 2018 succeeds, noting that a fourth bailout "is not an option anyone is considering."

He said that the ECB did not have a precise timeline on including Greek government bonds in its asset buying scheme, a move Athens has high hopes for as it would help it regain market access before the bailout ends.
The ECB's Governing Council would base its assessment also on an internal analysis, taking into account other risk management considerations before making the final decision.

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AceTraderFx Nov 29: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
29 Nov 2016 03:12GMT

USD/JPY - ..... Dlr orbits 112.00 level in directionless Tokyo trading after yesterday's intra-day wild swings.
Despite tumbling from 113.11 (New Zealand) to as low as 111.36 in Asian morning partly on active cross-unwinding in yen, dlr buyers emerged and the pair later ratcheted higher back to 112.79 just ahead of New York open but on to erase all of said intra-day gain as fall in U.S.
Treasury yields triggered another wave of yen-buying, dlr fell back to 111.62 ahead of Tokyo open before stabilising.

Intra-day rebound suggests further choppy trading above said yesterday's 111.36 low would continue.
Bids are noted at 111.70-60 and more below with stops below 111.30.
Offers are tipped at 111.25/35 and more above with stops reported above 112.80.

Pay attention to release of key U.S. Q3 GDP at 13:30GMT, personal consumption expenditures, Redbook retail sales, CaseShiller home price indices n then consumer confidence.
Also, Fed officials Dudely and Powell will be speaking during New York session.

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