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

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AceTraderFx Feb 07: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
07 Feb 2017 02:22GMT

USD/JPY - 111.79.. The greenback languishes near Asian 9-week low at 111.61 in relatively subdued Tokyo trading on Tuesday.
Despite staging an intra-day bounce from 111.99 to 112.58 on short covering in New York morning, the pair fell in New York afternoon on broad-based yen buying partly on risk aversion as well as further drop in U.S. treasury yields, yields on the benchmark 10-year U.S. note fell from 2.47% to 2.406% n fell further to 2.384% today.

The lack of a rebound in Asia despite early hawkish comments by Philly Fed President Harker (see 22:37GMT update) suggests as long as previous 122.06 low (now res) holds, downside bias remains for further weakness.
Offers are tipped at 111.85/95 and more above with stops above 122.30.
Initial bids are noted at 111.60-50 with stops below there, however, some buying interest is touted at 111.40-30.

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AceTraderFx Feb 08: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
08 Feb 2017 01:13GMT

GBP/USD - ...... Sterling swung the most vs its peer currencies in Tuesday's hectic trading.
Reuters reported earlier Sterling bounced back from its weakest point in two weeks against the dollar on Tuesday as investors jumped on signs of growing pressure on the government to give parliament a greater say in the final deal to leave the European Union.

Dealers said the pound's gains back to 1.2547 from an earlier low of $1.2347 were driven chiefly by junior Brexit minister David Jones' statement that parliament would be given a "meaningful" vote on the deal.

Jones later reiterated the harder line that there would be no renegotiation of the terms the government brings back to parliament. But the mixed messages were read as more evidence of pressure on Prime Minister Theresa May to soften a stance that prioritises control of immigration over membership of the bloc's lucrative single market.
The gains came after a rough few days for sterling, due largely to a run of surveys suggesting that the economy and consumer demand is finally softening in the face of Brexit-related risks.
Bank of England policymaker Kristin Forbes added to support for the pound by saying the bank should raise interest rates soon if growth remains solid and inflation continues to accelerate.

Further batches of downbeat data - this time from the BRC measure of retail sales and the first fall in UK house prices since the vote to leave the European Union last June - may add to jitters in the days ahead.
While Forbes was read as sounding a harder line on rates than the BoE last week, the data has highlighted concerns over how consumers will bear up in the face of price rises caused by an almost 20 percent fall in sterling.

Another piece of o/n news worth noting which will affect the pound. Reuters reported earlier Britain will not seek further talks with the European Union if parliament rejects the exit deal it reaches, the government said on Tuesday, as ministers defeated attempts to give lawmakers more say on the terms of the final agreement.

The statement, which echoes Prime Minister Theresa May's stance that "no deal for Britain is better than a bad deal for Britain" came as parliament debated a law that would give her the power to begin exit negotiations with the EU.

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AceTraderFx Feb 09: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
09 Feb 2017 02:19GMT

USD/JPY - ..... Although the pair remained under pressure in NY morning trading yesterday on broad-based USD weakness and also yen buying due to continued decline in U.S. Treasury yields (benchmark 10-year yields fell from 2.40% to 2.33%) as political uncertainty prompted investor to be active buyers in U.S. Treasuries as safe-haven assets, a late rebound in the greenback lifted price to 112.22.

Despite dlr's initial weakness to 11.75 in Australia, buying by Japanese importers lifted price in Tokyo trading, dlr climbed back to 112.34, suggesting the daily price swings seen in last 2 sessions above 111.60 would continue.
Having said that, reported offers at 112.50/55 are likely to cap intra-day gain and dlr may well fall back down again in European trading.
Bids are noted at 112.00 and more at 11.80-75 with stops touted below 111.60.
A mixture of offers and stops is reported at 112.55/60.

U.S. eco. calendar is fairly thin with the usual weekly jobless claims and wholesale inventories being the 2 sets of data due out later in the day.
Do pay attention to speeches by St. Louis Fed President Bullard (non-voter) at 14:10GMT n then Chicago Fed President Evans (voter) at 18:10GMT.

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AceTraderFx Feb 10: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
10 Feb 2017 02:39GMT

USD/JPY - 113.70.. The greenback stands tall in active Asian trading on Fri following yesterday's rally in New York morning after Trump's said a 'phenomenal' tax plan will be announced in a few weeks, his comments revived last year's Trump-election win euphoria and sent dlr flying to 113.34.

Renewed buying ahead of Tokyo open easily pushed price above said o/n high and intra-day rally in the Nikkie (up by as much as 2.5% following gains in the U.S. stocks to record highs) boosted risk sentiment and triggered broad-based yen selling.
To add fuel to intra-day dlr rally, purchase of more long-dated JGBs by BoJ sent dlr to fresh 1-week high of 113.80.

What a difference a day made, dlr was under pressure 24 hours ago and yesterday's Trump's comments and his meeting with Japan's PM Abe today followed by a golf match on Saturday has boosted market optimism, so buying dlr on dips is the way to go.
Bids are noted at 113.50-40 n more below with stops below 113.00.
Offers are tipped above 114.80/90 with stops above 115.00.

Pay attention to U.S. data later today starting with export and import price index and Uni. of Michigan consumer confidence.
Data to be released today:

Japan CGPI, China exports, imports, trade balance, France industrial production, Italy industrial output, UK construction output, industrial output, manufacturing output, trade balance, Canada employment, U.S. export price, import price and consumer sentiment.

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AceTraderFx Feb 13: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
13 Feb 2017 02:17GMT

USD/JPY - ..... The pair rallied shortly after Mon open in New Zealand as Sunday's missile test by N.Korea stirred up another geo-political unrest on the Korean peninsular (see Sunday's updates).
However, the Nikkie is largely unaffected by this and is currently up buy 0.5% at 19479.
Traders quickly sold the yen broadly and sent price higher above Friday's 113.86 ahead of Tokyo open, dlr climbed to 114.17 after tripping stops above 114.00 before easing.

Intra-day pullback from 114.17 suggests consolidation is in store and dlr is likely to in demand on dips as market awaits more reaction when European traders step in, so trading the pair from long side is favoured.
Bids are noted at 113.85-75 and more above with stops below 113.20.
Some offers are tipped at 114.20/30 with stops above 114.30/40.

As no U.S. data is due out today, order flows will have great influence on intra-day price swings.

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AceTraderFx Feb 14: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
15 Feb 2017 02:05GMT

EUR/USD - ...... Euro is nursing losses after yesterday's resumption of recent decline to a 4-week trough of 1.0561 after Fed Yellen's hawkish testimony before the U.S. Congress.
Although short-term specs made another attempt to know the pair lower at Asian open, buying interest (probably profit taking bids) at 1.0565 contained weakness, suggesting euro would move sideways before prospect of further weakness later in the day, so selling the pair on recovery is the way to go.

Offers are tipped at 1.0580/90 with some stops above 1.0600, however, more selling interest is reported at 1.0625/35.
On the downside, initial bids are noted at 1.0565-60 with some stops below 1.05550.

Euro area economic calendar is very light with EU trade balance being the only data in European morning, so traders will pay more attention to U.S. inflation data and retails sales at 13:30GMT.

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AceTraderFx Feb 16: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
16 Feb 2017 09:10GMT

GBP/USD - 1.2489.. Despite yesterday's selloff after being hit by a double whammy of slow UK's wage growth in European morning and then upbeat U.S. data, cable rallied from a 1-week low of 1.2383 in New York morning to 1.2481 and later traded sideways which continued in Asian session today.

Price rose to 1.2498 in European morning due partly to renewed USD weakness as well as cross-buying in sterling, suggesting near term upside bias remains.
Having said that, don't get overly bullish on cable as price continues to 'gyrate' inside recent broad range of 1.2347-1.2582 and position takers are probably on the sideline ahead of Friday's release of UK retail sales, so range trading should continue today.
Bids are noted at 1.2460-50 with stops below 1.2430.
Offers are tipped at 1.2495/00 with some stops above there, however, more selling interest is touted at 1.2540/50.

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AceTraderFx Feb 17: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
17 Feb 2017 02:00GMT

USD/JPY - ...... Dlr remained on the back foot in hectic trading on Thursday and tumbled from 114.31 (Aust.) to as low as 113.09 in New York afternoon due to broad-based USD weakness as well as active yen buying before staging a minor short covering rebound near New York close.

The greenback pared yesterday's losses at Tokyo open on buying by Japanese importers, suggesting 113.09 low print will remain during Asian session.
However, as USD has fallen broadly since Wed despite upbeat U.S. data and with U.S. Treasury yields falling in last 2 days (benchmark U.S. 10-year yield dropped from 2.524% on Wednesday to 2.438% yesterday), price is expected to meet renewed selling in European session.

Offers are tipped at 113.50/60 and more above with stops reported above 114.00.
Initial bids are noted at 113.30-20 with stops below 113.00. No U.S. data is due out today after pretty heavy eco. calendar in last few days suggest funds flow and technical trading will have a great influence on intra-day price swings, so be nimble and be quick and T.G.I.F. (note U.S. markets are closed for President's Day holiday, so beware of pre-long w/end position unwinding in New York session later in the day).

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AceTraderFx Feb 17: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
17 Feb 2017 09:37GMT

GBP/USD - 1.2415.. Cable tumbled to intra-day low of 1.2409 after downbeat U.K. retail sales. Reuters reported British retail sales unexpectedly fell in January, adding to a slump in December, showing that consumers are reining in their spending as inflation rises after last year's Brexit vote.

Shoppers have driven Britain's economy since June's decision by voters to leave the European Union. But they are widely expected to turn more cautious as prices rise following the fall in the value of the pound after the referendum.
Official data on Friday showed retail sales volumes fell by 0.3 percent month-on-month in January, much weaker than economists' forecasts in a Reuters poll for a 0.9 percent increase. No forecaster had expected a fall.

The BoE expects rising inflation means growth in the real incomes of British households is likely to falter later this year and stall completely in 2018, raising the risk of a slowdown in the overall economy. The BoE has signaled it is in no rush to raise record-low interest rates.

The ONS said retail prices rose 1.9 percent in January compared with a year ago, the most since July 2013 and up sharply from December's 0.9 percent. The rise in motor fuel prices, up 16.1 percent, was the biggest since September 2011.

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

Intra-Day Market Moving News and Views
20 Feb 2017 02:02GMT

USD/JPY - ...... The pair traded broadly sideways in Asia after Friday's cross-inspired decline to a 1-week low of 112.62 shortly after New York open, however, broad-based USD rebound lifted price to 112.97.
Dlr briefly climbed to 113.00 ahead of Tokyo open on bargain hunting by Japanese names, however, as yen remains bid vs eur, gbp and aud in Asia due partly to falling U.S. Treasury yields (benchmark 10-year dropped from 2.5238% last Wednesday to 2.4004% on Friday), suggesting choppy trading with downside bias remains.

Offers are tipped at 113.00/10 with stops above there, more selling interest is reported at 113.40/50.
Initial bids are noted at 112.80-70 with stops below 112.60.

No U.S. data is due out as U.S. markets are closed for Presidents' Day holiday.

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