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

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

Intra-Day Market Moving News and Views
21 Feb 2017 03:00GMT

USD/JPY - ..... Despite moving narrowly in holiday-thinned N. American session, the pair climbed ahead of Tokyo open, intra-day gain accelerated due to broad-based USD strength, price rallied to 113.57 after tripping stops above 113.25, then 113.50, suggesting upside bias remains for further headway to 114.00/05, so buying dlr on dips is the way to go.

Bids are noted above 113.40-30 and more below, offers are tipped at 113.80/90 with stops above 114.00.

U.S. will release a slew of eco. data starting with Redbook retail sales, Markit mfg n services PMIs.
A number of Fed officials will be speaking with Minneappolis Fed's Kashkari at 13:50GMT, Philly Fed's Harker at 17:00GMT n then San Francisco Fed's Williams at 20:30GMT.

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AceTraderFx Feb 22: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
22 Feb 2017 02:12GMT

USD/JPY - ..... Dlr moves broadly sideways in Tokyo trading after yesterday's rally from 113.09 (AUS) to 113.78 in New York morning due to broad-based USD strength and although price retreated to 113.41 after soft U.S. mfg and services PMIs, renewed buying quickly lifted price, dlr later climbed back to 113.73 in Australia on Wednesday.
However, despite mildly hawkish comments by Cleveland Fed President Mester (non-voter) in an interview with CNBC and Bloomberg TV this morning, price fell in Asian morning due to cross-buying in yen esp vs eur, suggesting further sideways swings below said Tuesday's high would continue.

Bids are noted at 113.45-40 and more below with stops below 113.20.
Offers are tipped at 113.70/80 with stops above there, more stops are touted above 114.00.

Market focus today is release of last Fed minutes at 19:00GMT (where most most of traders will not be round), however, pay attention to U.S. eco. data later in the day where Redbook retail sales will be released at 13:55GMT and then existing home sales at 15:00GMT. Fed Gov. Jerome Powell will speak at 18:00GMT.

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AceTraderFx Feb 23: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
23 Feb 201 02:21GMT

EUR/USD - 1.0552.. Euro is currently trading almost exactly where its was 24 hours ago after Wednesday's 'roller-coaster' rise.
Although price met renewed broad-based bashing at 1.0557 in Asia and tumbled to a 6-week trough of 1.0494 after tripping stops below 1.0520 in hectic European trading.
Price later rallied to 1.0566 on short covering in New York morning, despite a brief retreat to 1.0531 after release of Fed minutes, euro later climbed to session highs of 1.0573 due to broad-based USD retreat.

Euro's rally from 1.0494 to as high as 1.0573 has finally cut recent losing streak and subsequent retreat suggests consolidation is in store until European open.
Expect euro demand on dips as market is obviously short, so buying on dips is favoured where bids are noted at 1.0530-20 and more below with stops below 1.0490.
On the upside, offers are tipped at 1.0570/80 with stops touted above 1.0600.

U.S. eco. calendar is pretty light today with weekly jobless claims and month home price being the only data due out in New York morning.
Outgoing Atlanta Fed President Dennis Lockhart (retiring on Feb 28) will speak at 13:35GMT and Dallas Fed President Robert Kaplan (voter) will later speak at 18:00GMT.

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AceTraderFx Feb 24: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
24 Feb 2017 02:08GMT

USD/JPY - .... Dlr pares some of yesterday's loss and rebounded to 112.96 in Tokyo morning on bargain buying by Japanese names (importers) after hitting a near 2-week trough of 112.55 in New York Thursday.

Looks like range trading above 112.55 would continue in Asia with mild upside bias, however, market may well take another poke at 112.55 later in the day.
Offers are tipped at 113.00/10 with stops above 113.30, more stops are reported above 113.80.
Bids are noted at 112.60-55 with stops below 112.50, however, there is market chatter of fairly good buying above 112.00.

Later in the day, U.S. will release consumer confidence n new home sales at 15:00GMT.
No Fed official is scheduled to speak today, so we may have a quiet session in New York today and T.G.I.F.

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AceTraderFx Mar 01: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
01 Mar 2017 03:55GMT

USD/JPY - 112.93.. Dlr pares intra-day gain as U.S. Trump delivers his 1st speech to the Congress. The pair staged an impressive rally from yesterday's 3-week low of 111.70 as hawkish comments by influential New York Fed President William Dudley, price climbed to 112.88 near New York close and rose further to 113.38 in early Asian trading on broad-based USD gain.

Present retreat from 113.38 as Trump only announced a $1 trillion investment in infrastructure and no specifics on tax reforms have been give, so expect some unwinding of long USD positions before prospect of further gain later in the day. Bids are noted at 112.80-70 and more below with stops below 112.50.
Offers are tipped at 113.30/40 with stops above 113.50.

We have yet to see reaction from European traders on Fed Dudley's hawkish comments n Trump's speech, after that, U.S. will release a slew of eco. data at the start of the month which include PCE, personal consumption, Markit mfg PMI, construction spending, ISM mfg PMI n last but not least, Fed Beige book at 19:00GMT. Dallas Fed President Kaplan (voter) will speak at 18:00GMT.

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AceTraderFx Mar 02: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
02 Mar 2017 03:00GMT

USD/JPY - ...... The greenback stand tall in Asian trading following this following this week's impressive rally from Tuesday's 2-1/2 week low of 111.70 to 114.05 (New York) yesterday, price extended yesterday's gain to 114.16 at Tokyo open as rise in U.S. stocks markets to record highs (the Dow closed above 21000 mark) sent the Nikkie higher to a 14-1/2 month top of 19668, also higher U.S. Treasury yields boosted risk appetite for the dlr, leading to more broad-based selling in yen.

Although profit taking briefly pushed price lower to 113.83, renewed buying emerged ans lifted price, suggesting the pair will continue this week's upmove after consolidation.
Bids are noted at 113.85-75 and more below with stops below 113.30.
Some offers are tipped at 114.15-25 with stops above 114.50, suggesting buying dlr on dips is the way to go as latest hawkish comments by senior Fed officials (see earlier updates) have raised market expectation of a rate hike at next March 15-16 Fed meeting.

U.S. will release weekly jobless claims and ISM NY (bus conditions) index later in the day.

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AceTraderFx Mar 03: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
03 Mar 2017 03:15GMT

EUR/USD - The euro survived another day of selling on Thursday as despite ratcheting lower from 1.0546 in Europe to 1.0496 in New York afternoon, bids above last Wed's 6-week low lifted the pair and price staged a short-covering rebound at Asian open today, climbing back to 1.0523 ahead of Tokyo lunch session.

Looks like more choppy trading above 1.0494 would be seen in European morning, however, intra-day weakness in the antipodean currencies suggests selling the euro on recovery in anticipation of recent decline is favoured.
Offfers are noted at 1.0525/30 and more above with stops above 1.0550, more selling interest is tipped at 1.0560/70 with stops above 1.0575.
Initial bids are reported at 1.0500-1.0490 with stops below there.

Today is PMI day in the euro zone, Germany will release retail sales 1st, then Italy's services PMI, the same from France, then Germany and the EU.
Italy will release GDP and then EU retail sales.

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AceTraderFx Mar 06: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
06 Mar 2017 02:13GMT

USD/JPY - ..... Dlr remains under pressure in Asian trading on Monday as early breaking news that North Korea had launched missiles into the Japan's Exclusive Economic Zone lifted geo-political tension and then triggered broad-based yen buying on risk aversion.
Price fell from intra-day high of 114.14 (AUS) to 113.72 after Japan's officials lodged protest to the missile firing.

The fact dlr had fallen broadly in post-Yellen's New York session Friday due to active liquidation of long USD positions on profit taking suggests consolidation with downside bias is in store and intra-day weakness in the Nikkie (currently at 19372, down 97 points) pullback in U.S. Treasury yields (the benchmark 10-year retreated from Friday's high of 2.521% to a low of 2.467% today) should pressure the greenback in Tokyo trading.

Offers are tipped at 114.05/15 and more above with stops above 114.60.
Bids are noted at 113.75-65 and below with some stops below 113.45.

U.S. eco. calendar is very light today with factory orders being the only data due out at 15:00GMT. However, later in the day, Minneapolis Fed President Kashkari (voter) will speak on "A View From the Federal Reserve Bank of Minneapolis" at the National Association for Business Economics 2017 policy conference at 20:00GMT.

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AceTraderFx Mar 07: Intra-Day Market Moving News and Views -GBP/USD

Intra-Day Market Moving News and Views
07 Mar 2017 01:05GMT

GBP/USD - ...... A piece of downbeat eco. news. Reuters reported British consumers are cutting back on non-essential spending as the impact of last year's Brexit vote pushes up the cost of their day-to-day shopping, two surveys showed on Tuesday.
In a fresh sign of caution among consumers - who helped the economy withstand the Brexit shock last year - the British Retail Consortium industry group and Barclaycard reported signs of weakening demand for more expensive items.

The spending power of households is being stretched by the fall in the value of the pound since Britain's referendum decision in June to leave the European Union and by a rise in global oil prices.
Inflation has risen to nearly 2 percent and many economists think it will hit 3 percent this year.

British finance minister Philip Hammond is due to announce an annual budget statement on Wednesday and has signalled he will keep money in reserve in case the economy needs help to get through a slowdown in the economy as Britain leaves the EU.

The BRC said total sales rose in value terms by 0.4 percent in February compared with the same month last year, stronger than a 0.1 percent increase in January but below the 12-month average of 0.9 percent.

On a like-for-like basis - which excludes new store openings - sales fell by 0.4 percent, a slightly smaller fall than January's decline of 0.6 percent but the first back-to-back two-month dip since March and April last year.

Economists taking part in a Reuters poll had expected like-for-like sales to rise by 0.2 percent.

The Bank of England is watching closely to see if households rein their spending as it weighs up whether the economy needs more monetary stimulus to spur demand or an interest rate hike to curb inflation.

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AceTraderFx Mar 08: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
08 Mar 2017 03:10GMT

USD/JPY - ..... The pair slipped to 113.75 in Asian trading on intra-day renewed cross-buying in yen as lack of follow-through buying following Tuesday's gain to 114.15 in New York morning triggered some liquidation in long USD position.

Looks like sideways range trading in in store in Asia as market is in wait-n-see mode ahead of Friday's key U.S. jobs report.
Having said that, rise in U.S. Treasury yields in last few days (benchmark 10-yer yield is currently at 2.5124%, now far from February's high at 2.5240%) suggests dlr would be supported on dips, so buying on further decline is still recommended.
Offers are tipped at 113.95/05 and more above with stops above 114.20.
Bids are noted at 113.75-70 and more below with stops below 113.50.

U.S. will release a slew of eco. dat, starting with mortgage applications followed by important ADP private employment (forecast for Feb is 180K gain vs previous reading of 246K), then labor costs, productivity, wholesale inventories and wholesale sales.

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