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

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AceTraderFx Jan 03: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK EUR/USD
Update Time: 03 Jan 2017 01:50 GMT

EUR/USD - 1.0476
Yesterday's intra-day decline in holiday-thinned Monday's session from 1.0532 (Asia) to 1.0451 suggests euro's correction from December's fresh 13-year bottom at 1.0352 has ended last Friday at 1.0655 and consolidation with downside bias remains for subsequent weakness to 1.0400/05, reckon pivotal sup at 1.0372 (last week's low) would remain intact.

On the upside, only above said yesterday's 1.0532 high aborts present bearish scenario on euro and may risk subsequent gain to 1.0580/90.

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AceTraderFx Jan 03: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
03 Jan 2017 07:26GMT

USD/JPY - ..... The pair rallies at European open as a bout of broad-based usd buying sent price to intra-day high of 117.80 following yesterday's gain to 117.67 in holiday-thinned Monday session.

As mentioned earlier, although dlr fell initially on Friday due to initial sharp jump in eur/usd as investors took risk off the table on the last trading day in 2016, dlr bulls quickly returned at Asian open (Japn's market is closed for holiday today) and lifted price from 117.22 (AUS) but then moved narrowly under Europe comes in.

Present firmness suggests dlr still has legs to move higher, order book is pretty light but there is market chatter of resting offers by Japanese exporters at 118.00 and above, so dlr needs to climb above 118.00/10 decisively to retain bullishness.
Bids are noted at 117.50-40 and more at 117.30-20.

Today is PMI day n U.S. will release Redbook retail sales, Markit mfg PMI, construction spending and last but not least ISM mfg PMI and these data will surely have a direct influence on intra-day price swings, so watch out.

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AceTraderFx Jan 04: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
04 Jan 2017 04:07GMT

USD/JPY - ..... Dlr pares yesterday's losses in New York morning in Asian trading today after a 'roller-coaster' ride in Tuesday's session. Price met renewed buying just ahead of Tokyo open at 117.54 and climbed back to 118.19 as a hefty intra-day 400+ points rally in the Nikkie (currently at 19530, up 415 points) boosted risk sentiment, however, price has retreated after meeting offers at 118.20/30 capped dlr's gain, suggesting range trading is in store.

Tuesday's rally from 117.22 (AUS) to 118.61 in New York morning and then subsequent selloff to 117.23 suggests further choppy swings below Dec's 10-1/2 month peak at 118.66 would continue.
Bids are noted at 117.50 n more at 117.25-20 with some stops below there, offers are tipped at 118.20/30 n more above with stops above 118.70/75.

As mentioned in yesterday's update, pay attention to release of U.S. data as dlr hit session high on Tuesday at 118.61 after upbeat U.S. data (construction spending and ISM mfg PMI). Today, U.S. will release Redbook retail sales and ISM NY index.

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AceTraderFx Jan 05: Intra-Day News and Views EUR/GBP

Intra-Day Market Moving News and Views
05 Jan 2017 01:30GMT

EUR/GBP - 0.8535.. A piece of Brexit news on U.K. Telegraph which came out in Australian morning worth noting. PM Theresa May will threaten to take Britain out of the single market unless the UK is given full control of its borders in a significant Brexit speech designed to counter claims she has no plan for leaving the EU.

The Prime Minister will outline her "vision for Britain outside of the EU" in a major speech later this month that will focus on the economy and immigration.
Both David Davis, the Brexit Secretary, and Boris Johnson, the Foreign Secretary, are having "significant" input into the speech, sources said. However, Liam Fox, the Trade Secretary considered one of the "three Brexiteers" alongside Mr Davis and Mr Johnson, is understood to have been sidelined.

The speech will be seen as a retort to claims of "muddled thinking" in Mrs May's Government by Sir Ivan Rogers, who on Tuesday resigned as Britain's EU ambassador after a series of rows with Downing Street.
One source predicted that Mrs May will make the speech after a Supreme Court ruling which will decide whether she has to formally consult Parliament before triggering Article 50, which begins formal Brexit negotiations.

Downing Street wants to get back on the front foot in the wake of the shock resignation of Sir Ivan, who had been "cut adrift" by Mrs May and her allies because of his negative view of Brexit.

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AceTraderFx Jan 05: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
05 Jan 2017 08:11GMT

EUR/USD - 1.0562.. A piece of euro supportive news. Reuters reported German economists called on the European Central Bank on Thursday to raise interest rates after euro zone consumer prices grew faster than expected in December.
The European Central Bank aims for an inflation level of just under 2 percent but has undershot the target for years. It has been buying tens of billions of euros of government bonds each month to inject more cash into the banking system and stimulate price rises in the economy.

But data on Wednesday showing that prices in the 19 countries sharing the euro rose 1.1 percent on the year last month have stirred a historic fear of inflation among Germans that goes back to the 1920s.
DIW institute chief Marcel Fratzscher told the paper: "The sooner the inflation rate in Europe reaches the goal of 2 percent, the quicker the ECB can raise interest rates. Savers would also benefit from this."
Isabel Schnabel, one of the panel of economists that advises Chancellor Angela Merkel's government, told Bild an end to ultra-expansive monetary policy should come soon.

The comments add to a chorus from Europe's biggest economy after the head of the Ifo institute Clemens Fuest said a jump in German inflation was a signal for the ECB to end its expansive monetary policy and its bond buying programme.
German consumer prices, harmonised to compare with other European countries (HICP) rose by 1.7 percent on the year in December after increasing 0.7 percent in November, the Federal Statistics Office said on Tuesday.

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AceTraderFx Jan 06: Intra-Day News and Views AUS/USD

Intra-Day Market Moving News and Views
06 Jan 2017 01:17GMT

AUS/USD - ..... Despite release upbeat Australian trade data, AUD showed muted reaction to this.
Reuters reported earlier Australia boasted its first trade surplus in almost three years in November as surging commodity prices boosted export earnings beyond all expectations, a much-needed windfall for mining profits, national income and tax revenues.

Friday's data from the Australian Bureau of Statistics showed a trade surplus of A$1.24 billion ($908.92 million)in November, far above forecasts of a A$500 million deficit.
Exports jumped by 8.4 percent, or a whopping A$2.3 billion, to top A$30 billion for the first time ever. Coal, iron ore and rural exports all enjoyed double-digit gains, while imports were unchanged on the month.

November's barnstormer ended a 31-month run of deficits and is likely a just a taster of more to come as prices for many key resources remain strong on the back of sustained Chinese demand.

Data to be released on Friday:

Australia exports, imports, trade balance, Germany industrial orders, France exports, imports, trade balance, current account, EU retail sales, business climate, economic sentiment, industrial sentiment, consumer confidence, Canada unemployment, exports, imports, trade balance, Ivey PMI, U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings and factory orders.

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AceTraderFx Jan 10: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
10 Jan 2017 04:29GMT

EUR/USD - ..... Euro continued to capitalise on its yesterday's gain in New York session on the back of a spectacular rally in eur/gbp cross, traders bought the euro and sold sterling actively as w/end Brexit comments by UK PM May ignited market concerns of a possible 'hard' Brexit.
Euro easily rose above European 1.0556 top and hit session highs of 1.0583.

Despite initial sideways move in Aust., renewed buying in eur/gbp sent price higher above said New York top n euro climbed to 1.0619 near Asian midday with stops above last Friday's 1.0622 high and then December's peak at 1.0655 are now in focus.

Bids have been raised to 1.0590-80 and more below with stops below 1.0550, some offers are tipped at 1.0620/30 and more above with fairly large stops touted above 1.0660.

Offers are tipped at 115.90/00 and more at 116.15/25 with stops above 116.55.
A mixture of bids and stops is reported at 115.10-00.

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AceTraderFx Jan 12: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
12 Jan 2017 03:12GMT

USD/JPY - ...... Yesterday's was a classic case that the market does not always get it right.
Although the greenback was very well bid across the board in Europe n New York morning as traders loaded up long usd positions in anticipation that U.S. President-elect Trump will outline his U.S. fiscal stimulus measures, the pair climbed from 115.82 to as high as 116.87 in New York.
However, traders dumped the buck when after Trump disappointed the market and resulted in a free fall to session lows of 114.25.

Despite staging a short-covering rebound to 115.63, dlr ratcheted lower in Australia and Tokyo trading today on renewed usd's weakness, price fell back to 114.62 ahead of Tokyo lunch break.
Dlr's intra-day weakness due partly to yen's strength vs eur, gbp and aud etc suggests consolidation with downside bias remains, so selling the pair on recovery is favoured.

Offers are tipped at 115.00/10 and more above with stops above 115.65.
Some bids are noted at 114.60-50 n more below with stops below 114.20.

After Trump news conference, market may go back to basics and pay attention to release of U.S. eco. data as well as speeches by a great number of Fed officials (see 01:30GMT update for details).
U.S. will release weekly jobless claims, export n import prices, all due out at 13:30GMT which are unlikely to have much influence on price but hawkish comments by Fed speakers may have a brief supporting effect.

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AceTraderFx Jan 13: Intra-Day News and Views GBP/USD

Intra-Day Market Moving News and Views
13 Jan 2017 01:24GMT

GBP/USD - ..... The news that made the most impact to price was Thursday's Brexit news which came out near European close which knocked cable from 1.2289 to as low as 1.2152 near New York close.
Reuters reported earlier sterling slipped on Thursday after a spokeswoman said British PM Theresa May will give a speech next week on her plans for leaving the European Union, which sparked fears that she would suggest Britain will undergo a "hard Brexit".

Sterling skidded to its lowest levels for almost 32 years -excluding a "flash crash" in October - this week, after May said over the weekend that Britain would not keep "bits" of EU membership when it leaves the bloc.
Investors interpreted this to mean Britain would lose access to the lucrative European single market in order to give priority to reasserting full control of its borders to curb immigration.

This scenario has come to be known as "hard Brexit" a phrase that May herself rejects. The pound had rebounded to as high as $1.2317 earlier on Thursday against a dollar weakened by a lack of detail on President-elect Donald Trump's spending plans in his first news conference since his election on Wednesday.
Traders are also awaiting a decision - expected in the coming days - from Britain's Supreme Court on whether to uphold a High Court ruling last year that said May's government needed parliamentary approval before triggering "Article 50", which will formally kick off Brexit negotiations with Brussels.

Investors reckon that if lawmakers from across the political spectrum - a majority of whom backed staying in the EU in June's referendum - are involved in activating Article 50, they will push for a "softer" Brexit, which would be sterling-positive.
A further boost to sterling could come if Britain is forced to delay its exit talks because of a potential suspension of Northern Ireland's regional assembly - which a lawyer said on Wednesday was a possibility. The resignation of Northern Ireland Deputy First Minister Martin McGuinness on Monday effectively collapsed the devolved government.

Bank of England Governor Mark Carney said on Wednesday that the immediate risks from Brexit had fallen, and that the central bank may now raise its forecasts for the UK economy.

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AceTraderFx Jan 16: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
16 Jan 2017 07:00GMT

EUR/USD - ..... Euro traded broadly sideways in directionless Asian morning. Despite being dragged lower by the pound fm 1.0615 at New Zealand open to intra-day low of 1.0595, renewed buying lifted the pair and price rebounded to 1.0635 in Australia, price then move relatively sideways in Asia.

The fact that Friday's retreat from 1.0673 to 1.0596 in New York morning suggests further choppy trading below last Thursday's 1-month peak at 1.0685 would continue, consolidation with downside bias remains.
Offers are tipped at 1.0635/45 and more with some stops above 1.0675, however, more stops are touted above 1.0685 and then above 1.0700.
Bids are noted at 1.0600-1.0590 with stops below there.

Euro area countries will release some eco. data starting with Italy's Dec CPI (Final), the same fm the EU (Final), EU CPI n trade balance.

ECB policymakers Francois Villeroy de Galhau and Peter Praet will speak at a Bank of France's "Secular Stagnation and Growth Measurement Conference" at 08:00GMT, then ECB Board Member Yves Mersch will deliver a speech at the farewell ceremony for Bank of Finland Deputy Governor Pentti Hakkarainen in Helsinki at 12:30GMT.

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