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

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

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

EUR/USD - ...... Euro remains under pressure in subdued Asian trading as traders are mostly on the sideline ahead of ECB rate decision later in the day.
Although price briefly dipped to session lows of 1.0535 after release of robust U.S. private jobs report, euro quickly staged a short-covering bounce to 1.0562 but the pair then ratcheted lower to 1.0536 in New York afternoon, suggesting intra-day downside bias remains.

Offers are tipped at 1.0560/70 and more above with stops above 1.0580, more stops are reported above 1.0600.
Initial bids are noted at 1.0535-25 and more at 1.0505-00 with fairly large stops below 1.0490, suggesting selling euro on recovery is the way to go.

No eco. data is due out today but German FinMin Wolfgang Schaeuble will meet U.S. Treasury Secretary Steven Mnuchin in Berlin later today.

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

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

USD/JPY - ..... Dlr stands head and shoulders above its major peer currencies in Friday's Tokyo morning and hit a fresh 6-week high of 115.26 after penetrating yesterday's 115.00 (New York).

Despite moving narrowly but with a firm undertone in Australia, buying emerged at 114.88 sent price swiftly higher, the pair then rallied to 115.26 after tripping stops above 115.00/05.
Traders cited continued rise in U.S. yields in Asia was the main driver, the benchmark 10-year Treasury yield climbed to a neat 3-month high of 2.624% vs Thursday's high of 2.609%.
In addition, intra-day gain in the Nikkie (currently at 19550 and up 1.2%) is boosting risk sentiment, leading to broad-based selling in the yen vs usd, eur, gbp, aud and nzd etc.

With plenty of positive fundamentals supporting the greenback, price can only head North, right. If U.S. jobs report n average wage growth come in as per street forecast or well above in the former (after Wednesday's monster gain in private payrolls), then this week's ascent may accelerate.
Bids are noted at 115.00-114.80 area with some stops below 114.50.
Offers are tipped at 115.35/45 with stops above 115.60.

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

Intra-Day Market Moving News and Views
13 Mar 201702:27GMT

USD/JPY - ..... The pair moved sideways in subdued Tokyo trading on Monday after tumbling from Friday's 7-week high of 115.51 to 114.66 due to broad-based usd decline in post-NFP trading as well as strg retreat in the U.S. Treasury yields (benchmark 10-year yield hit a near 3-week peak of 2.624% b4 pullback back to 2.575%, currently at 2.585%).

Although price dipped marginally lower below said Friday's 114.66 low to 114.64 at New Zealand open, lack of follow-through selling lifted dlr n the pair then edged higher following release of downbeat Japan's machinery orders.
Looks like sideways move would continue in Asia and intra-day broad-based usd's softness suggests selling the pair on recovery is recommended for another corrective fall later in the day.
Offers are tipped at 115.00/10 and more above with stops above 114.40.
Initial bids are noted at 114.70-90 with stops below 114.50.

No U.S. eco. data is due out n N. America has pushed their clocks forward by one hour on Sunday, so European traders have a shorter lunch break in next 2 weeks if they follow or trade on U.S. data.

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

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

EUR/USD - ..... Euro remains on the back foot in subdued Asian trading after extending decline from Monday's fresh 1-month high of 1.0714 to 1.0645 ahead of Asian open.

Although some traders attributed to Monday's intra-day decline to dovish comments by ECB officials Smets and de Galhau, euro actually was under broad-based selling in European morning and later weakened 1.0653 near New York close.

Looks like consolidation with downside bias is in store ahead of European open and pay attention to release of key Germany's ZEW eco. sentiment index.
Offers are tipped at 1.0675/80 n more at 1.0695/000 with stops above 1.0715/20.
Some bids are noted at 1.0640-30 with stops below there.

Germany will release CPI, ZEW eco sentiment followed later by EU industrial production.

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AceTraderFx Mar 15: Intra-Day Market Moving News and Views - USD/JPY

Intra-Day Market Moving News and Views
15 Mar 2017 02:41GMT

USD/JPY - ..... Although Dollar is currently trading roughly at the same level where its was at 24 hours ago, price swung wildly in hectic Tuesday's session.
Price initially climbed from 114.76 to 115.20 in Europe before tumbling on active yen-buying to session lows of 114.52 at New York midday before rebounding on short covering as Dollar gained broadly vs G4 currencies in New York afternoon.

Yesterday's strong retreat from 115.20 suggests sideways swings would continue as market has to digest a slew of key U.S. eco. data and then Fed rate decision (a rise is almost a done deal) and more importantly, the published Fed's dot plot (rate hike forecasts) and Fed Chair Yellen's press conference.
Offers are tipped at 114.90/00 and more above with stops above 115.20.
Bids re noted at 114.55-50 with stops below 114.40.

Data to be released on Wednesday:
Japan industrial output, capacity utilisation.
France CPI, HICP, Swiss PPI, Italy retail sales, CPI, HICP, UK claimant count, unemployment rate, EU employment change.
U.S. CPI, core CPI, retail sales, business inventories and FOMC rate decision.

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AceTraderFx Mar 16: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
16 Mar 2017 03:29GMT

USD/JPY - .... Dlr languishes near a 2-week low of 113.16 despite yesterday's anticipated Fed's rate rise, the second time in 3 months. The greenback tumbled broadly due to less hawkish Fed rate increase forecasts, cutting market's expectation of 3 more hikes to 2 in the remaining of 2017.

Well, this is more of a case of 'buy the rumour and sell on fact' as traders have been loading up long USD positions in recent days. However, the major factor that knocked dlr/yen lower was the sharp fall in U.S. yields where the key benchmark 10-year Treasury yield fell fm Tue's near 3-month peak of 2.629% to 2.495%, rate dipped marginally to 2.486%, hence, dlr's weakness in Tokyo trading.

Although USD demand by Japanese importers are providing sup on dips for the greenback, sellers are likely to emerge after BoJ Kuroda's press conference (06:30GMT).
Offers are tipped at 113.55/65 and more above with stops above 114.00.
Some bids are noted at 113.15-00 area with stops below there, suggesting sell Dolllar on recovery is recommended for intra-day trade.

Later in the day, U.S. will release weekly jobless claims, housing starts and Philly Fed mfg index.

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

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

USD/JPY - ...... Dlr is currently roughly where it was trading 24 hours after a seesawed Thursday session.
Despite ratcheting lower from yesterday's 113.55 (AUS) high to a 2-week low of 112.91 on broad-based yen buying in early European trading, price rallied back to 113.53 on short covering b4 falling back to 112.98 at New York midday.
However, buying interest emerged and lifted price back to 113.43 and dlr later inched higher and climbed back to 113.49/50 in Asia today.

Looks like dlr would gain more respite in Asian trading, just like yesterday but beware of another round of yen buying when European traders arrive, so selling on intra-day recovery is favoured but downside today looks very ltd due to recovery in the U.S. yields (benchmark 10-year treasury yield has climbed back to 2.544% today from yesterday's 2.486% low).
Offers are tipped at 113.50/60 with some stops above there, more stops are touted above 114.00.
Bids are noted at 113.25/20 and more at 113.00 with stops reported below 112.90.

Data to be released on Friday:
New Zealand business PMI, Italy trade balance, EU trade balance, U.S. industrial production, capacity utilisation and consumer confidence.

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

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

USD/JPY - 112.54.. Dlr languished near a fresh 2-week low of 112.48 in holiday-thinned trading in Asian morning as Japan's financial markets for closed for Vernal Equinox Day holiday.

The pair met renewed selling in New Zealand at 112.76 as lack of key developments at the end of G20 meeting on Saturday (G20 communique dropped pledge to avoid trade protectionism and to refrain from ccy intervention) prompted short-term specs to renew their broad-based USD selling, price fell below 112.57 after tripping some stops below there.

Although intra-day weakness suggests downside bias remains ahead of Euroepan open, so buying interest is touted at 112.35-20 area with stops below 112.00.
Offers are tipped at 112.75/85 with stops above 113.00.

The only U.S. eco. data due out is Chicago Fed National Activity index at 12:30GMT.
Last but not least, at 17:10GMT, Chicago Fed President Evans (voter) will be the first Fed official out of 9 policy makers who are scheduled to make public speeches this week.

 

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AceTraderFx Mar 21: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - ...... Although euro fell initially ahead of Asian open to 1.0720 after tripping light stops below o/n NY low of 1.0735, short covering quickly lifted the single currency and price quickly rallied on broad-based usd's weakness (except vs yen), the pair later climbed on intra-day high of 1.0770 before stabilising.

Euro's rebound from 1.0720 strongly suggests correction from last week's 1.0783 high has ended and trading the euro from long side is the way to go.
Bids are noted at 1.0750-40 and more below with stops below 1.0700.
Offers are tipped at 1.0770/80 with stops above there, more stops are touted above 1.0800.

Data to be released later:
Swiss trade balance, UK CPI, core CPI, RPI, PPI input, PPI output, PPI core output, PSNB, PSNCR, CBI trends,
Canada retail sales, U.S. current account and redbook retail sales.

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

Intra-Day Market Moving News and Views
22 Mar 2017 02:30GMT

USD/JPY - 111.54.. Dlr remains on the back foot in choppy Tokyo trading after yesterday's cross-inspired selloff to 111.55 in New York, then to a fresh 3-1/2 month trough of 111.44 on stop hunting in Australia before bouncing briefly to 111.76/77 shortly after Tokyo open as bargain hunting by Japanese importers triggered minor short covering in the greenback.
However, price briefly dipped to 111.46/47 on news of possible firing of several missiles by North Korea.

Yesterday's break of February's 111.60 bodes ill for the buck as falling U.S. yields (benchmark 10-year yield fell from last week's 2.629% to 2.416% yesterday, then 2.4103% today) together with broad-based weakness in Asian stocks should pressure price due to expected yen buying on risk aversion.
So selling the pair on recovery is the way to go. Offers are tipped at 111.80/90 with some stops above 113.00.
Some bids are noted at 111.55-45 and more below with stops touted below 111.00.

U.S. wlll release monthly home price and exisiting home sales later in the day and no more Fed speak for rest of the day after Fed's Mester and Rosengren expressed their view a little while ago.

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