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

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AceTraderFx Dec 15: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
15 Dec 2016 02:00GMT

USD/JPY - ..... Dlr surged to a fresh 10-month peak of 117.86 n despite early release of upbeat Japanese data. Reuters reported Japanese manufacturing activity grew at the fastest pace in almost a year in December as new orders improved in a sign that domestic demand is gathering strength, a survey showed on Thursday.

The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) for December rose to a seasonally adjusted 51.9 from a final 51.3 in November.
The index remained above the 50 threshold that separates expansion from contraction for the fourth consecutive month and showed activity expanded at the fastest pace since January.

The index for new orders, which measures both domestic and external demand, rose to a preliminary 52.8 from 51.1 in the previous month, also the highest in 11 months.
However, the flash index for new export orders eased slightly to 51.7 from 51.9 in the previous month.

Sentiment among large manufacturers hit a one-year high in December as a weak yen brightened the outlook for exports, the Bank of Japan's closely-watched tankan business sentiment survey showed on Wednesday.
Companies also maintained upbeat capital expenditure plans in the tankan survey, suggesting the economy will pick up pace next year.

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AceTraderFx Dec 16: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
16 Dec 2016 02:17GMT

USD/JPY - ..... Dlr finally return to its range-bound mode after continuing recent spectacular ascent to a fresh 10-1/2 month high of 118.66 ahead of New York morning, despite intra-day jump after a strong retreat to 117.67 in New York morning, selling interest at 118.63 knocked price lower to 117.79/80 in New York afternoon and intra-day sideways move suggest traders are not eager or tempted to take the buck higher, at least for the time being.

Offer are tipped at 118.40/50 and more above with stops above 118.75, bids are noted at 117.80/70 with stops below 117.60.
However, more buying interest is touted at 117.20-00 area, suggesting buying on dips is the way to go.

U.S. eco. calendar is pretty light (T.G.I.F.) n housing starts at 13:30GMT is the notable one, set forecast for November reading to come in at 1.23 M vs previous reading of 1.32 M.
Later in the day, Richmond Federal Reserve President Jeffrey Lacker (non-voter) will be speaking at 17:30GMT.

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AceTraderFx Dec 19: Intra-Day News and Views AUD/USD

Intra-Day Market Moving News and Views
19 Dec 2016 02:00GMT

AUD/USD - .... Aussie shrugged off deepening Australia's budget deficit and edged higher to 0.7313 in Asia. Reuters reported Australia's conservative government on Monday forecast a A$10 billion deterioration in its budget deficit over the next four years but still hoped to snatch a surplus by 2020/21 and forestall a downgrade in its top credit rating.

There have been fears the update could trigger a downgrade in the country's prized triple-A rating and push up borrowing costs on over a trillion dollars of federal, state and bank debt.
Facing slowing economic growth and a seemingly intractable deficit, Treasurer Scott Morrison reaffirmed an aspiration to return to surplus June 2021 through a mixture of spending cuts and tax-raising measures.

A downgrade would also be a political nightmare for the Liberal National government of Prime Minister Malcolm Turnbull, which has long sold itself as a competent economic manager that can be trusted to balance the books.
The budget update showed the government expected a A$36.5 billion deficit for the year to June, slightly narrower than the initial forecast of A$37.1 billion. It then projected a steady, if slow, improvement to A$10 billion by June 2020.

The Treasurer also revised down estimates for gross domestic product growth for this year and next after the A$1.6 trillion economy surprisingly contracted by 0.5 percent in the September quarter, the first shrinkage since 2011.
It now expects GDP growth of 2 percent in 2016/17, down from 2.5 percent, and a pick up to 2.75 percent in 2017/18.

One bright spot has been a recovery in prices for many of Australia's major commodity exports, with coal and iron ore surging in the past few months. If sustained, that will add billions to the tax take and could ease the pressure on the ratings.
And even if the country is downgraded, analysts said they doubted that it would have much of an impact on bond yields or investor confidence.

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AceTraderFx Dec 20: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
20 Dec 201602:10GMT

USD/JPY -..... Dlr maintains a firm undertone in Tokyo trading after yesterday's intra-day wild swings. Although price fell steadily in Asia on Monday as standoff between U.S. and China over the seizure of U.S. Navy's underwater drone led to buying of yen on risk aversion.
Price weakened to 116.99 at European open before staging a rebound to 117.56 but only to tumble to one yen lower to 116.56 ahead of New York midday on news of killing of Russian ambassador in Ankara, Turkey.
However, upbeat comments by Fed Chair Janet Yellen (we did mention this in Monday's 02:50GMT update) lifted price to 117.39/40.

Dlr climbed from 116.99 to 117.41 in early Asian trading, but lack of follow-through buying has caused price to retreat, suggesting sideways swings are in store as market awaits BoJ's announcement around 03:00-03:30GMT at the end of its 2-day meeting.
Offers are tipped at 117.40/50 with stops above 117.60, more selling interest is touted at 118.00/10.
Bids are noted at 117.00-116.95 n more below with stops reported below 116.50.

The only eco. data coming out of the U.S. is Redbook retail sales which will be ignored by the market as fund flows are expected to have a direct influence on intra-day price swings as trading volume reduces ahead of upcoming X'mas break.

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AceTraderFx Dec 21: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
21 Dec 2016 03:01GMT

USD/JPY - ..... Dlr pares yesterday's rally from 116.99 (AUS) to as high as 118.24 in Europe as mildly dovish comments by BoJ Governor Kuroda at post-BoJ meeting press conference sparked off active yen-selling.
However, price was unable to capitalise on intra-day gain as rally in the eur/usd in New York morning led to broad-based usd's weakness, knocking price to 117.66.

Despite dlr's initial gain to 118.07 shortly after Tokyo open as o/n rise to record highs on Wall Street boosted risk appetite, dlr soon gave up short-term gain and turned lower, some cited upbeat assessment of overall Japanese economy by Japan's gov't (see 02:01GMT update) triggered yen-buying, dlr fell to 117.55 after tripping some stops below 117.60.
Intra-day weakness suggests dlr may not be able to re-visit its last week's 10-1/2 month peak at 118.66 any time soon, so range trading is the order of the day, possible for rest of this week as trading volume is expected to thin out fairly soon esp. on Fri when Japanese financial market is closed for Emperor's birthday.

Offers are tipped at 118.00/00 and more at 118.20/30 with stops above 118.45 but more selling interest is reported at 118.60/70.
Some bids are noted at 117.50-40 with stops below there, more buying is reported at 117.00-116.90 with large stops touted below 116.50.

The only economic data due out in the U.S. later today is existing home sales for November.

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AceTraderFx Dec 22: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
22 Dec 2016 01:44GMT

USD/JPY - 117.58... Trading the dlr proved to be pretty tricky yesterday as price swings from initial loss to gain, depending which intra-day session you were trading.
The pair came under renewed active selling at 118.07 in Asia Wednesday, mainly on active yen-buying, price fell to 117.39 ahead of European open and dlr later hit session lows of 117.11 also ahead of New York open before staging a short-covering bounce to 117.86.

Well, it looks like the pair is not going anywhere in a hurry, esp. ahead of Friday's market holiday in Japan, therefore, further 'gyrations inside this week's 116.56-118.24 range are expected to continue, some may see a 'triangle' pattern from 118.66 is unfolding, suggesting buying dlr on dips is still the preferred game until a see a daily close below this week's low at 116.56 (Monday).

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AceTraderFx Dec 23: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
23 Dec 2016 02:10GMT

USD/JPY - ..... Dlr went nowhere in lack lustre Thursday's session and is doing nothing in subdued Asian morning today as Japanese market is closed for Emperor's Birthday, so traders can go for an early X'mas celebratory lunch.

Despite yesterday's brief jump to 117.88 after upbeat U.S. GDP revision, intra-day rally in eur/usd swiftly knocked dlr lower to session lows of 117.27 but subsequent broad-based rebound in the usd lifted the pair to 117.69/70 before moving narrowly in thin New York afternoon trading.

Range trading is expected to continue in European morning, however, pay attention to release of U.S. data later in the day which may cause some whippy move in a holiday-thinned New York market, U.S. will release University of Michigan consumer confidence n then new home sales.

Offers are tipped at 11765/70 n more at 117.85/95 with stops above 118.10, however, more sell interest is reported at 118.30/40. Some bids are noted at 117.30-20 n more below with stops below 117.00

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

Intra-Day Market Moving News and Views
28 Dec 2016 07:31GMT

EUR/USD - ..... Euro pares intra-day gain at European open after price extended gain from yesterday's 1.0432 low to 1.0480 in Asia.
Seller emerged quickly pushed price back down to 1.0465, suggesting consolidation with downside bias is in store.

Offers are tipped at 1.0480/90 with stops above last week's high at 1.0499.
Bids are noted at 1.0455/50 and more below with stops reported below 1.0425.

Euro area economic calendar is very light with Italy's December consumer n business confidence the only 2 data due out at 09:00GMT.
U.S. economic calendar is pretty light today with November pending home sales the only data for traders to chew on.

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AceTraderFx Dec 29: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
29 Dec 2016 06:20GMT

EUR/USD - ..... Just as if you think the single would re-vist last Tuesday's 13-year low at 1.0352 after yesterday's sharp selloff just ahead of European open at 1.0480 to as low as 1.0372 near New York midday, intra-day decline in dlr/yen or rather active gain in the yen led to broad-based usd's weakness in Asia, sending the single currency above 1.0427/32 res area to as high as 1.0465, suggesting said 1.0352 bottom would be 2016 trough in the history book.

Current firmness ahead of European open suggests euro still has legs to move higher towards 1.0499 (last week's reaction high) and stops above 1.0500 are now in focus.
Bids are noted at 1.0440-30 and more below with stops below 1.0370.
Some offers are touted at 1.0480/90. Therefore, buying euro is favoured but beware of possible sharp retreat if euro is unable to penetrate 1.0499/00.

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AceTraderFx Dec 30: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
30 Dec 2016 03:00GMT

USD/JPY - ..... Dlr pares initial weakness to a fresh 2-week trough of 116.05 ahead of Asian open as intra-day sharp jump in the eur/usd led to broad-based usd's weakness.
However, lack of follow-through selling below Thursday's 116.23 low quickly lifted the pair and price moved narrowly sideways in subdued Tokyo trading as many traders have closed their books for the year, suggesting one has to look to Europe for bigger price swings.

If you are still trading, then the only U.S. eco. data to trade on is Dec Chicago PMI, street forecast is 57.6 vs previous reading of 57.6 too.

Bids are noted at 116.20-00 area with some stops below there, offers are tipped at 116.70/80 with stops reported above 117.00.

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