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

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

Intra-Day Market Moving News and Views
06 Feb 2018 03:25GMT

USD/JPY - 108.72.. Dlr gained no respite in hectic Asian trading as despite minor consolidation after o/n selloff from 110.26 to 108.99 in New York session due to active safe-haven yen buying as a result of plunge in U.S. equities n falling U.S. Treasury yields, renewed selling at 109.29 emerged n price tumbled to 108.55 as the Nikkie quickly shed 5% shortly after Tuesday's open.

Looks like yen-buying will continue today as Monday's intra-day 6.3% plunge in the Dow triggered active risk aversion where investors purchased the safe-haven yen and swiss franc n sent dlr/yen and dlr/chf sharply lower, U.S. Treasury yields also tumbled, benchmark 10-year yields fell from intra-day 4-year high of 2.885% to as low as 2.691% near the close.

The Dow fell almost 1,600 points at one time and later closed down 4.6% to 14346. Monday's over 1,000 points selloff represent the biggest single-day point-drop ever.

Offers are tipped at 108.90/00 with stops above 109.30, a mixture of bids and stops is touted near 108.30-25, suggesting selling dlr in anticipation of a break of Jan's 4-month bottom at 108.29 later in the day is recommended.

U.S. will release trade balance, Redbook sales and JOLTS jobs opening. St. Louis Fed President Bullard (non-voter) will speak of monetary policy at 13:50GMT.

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

Intra-Day Market Moving News and Views
07 Feb 2018 03:30GMT

EUR/USD - 1.2387.. Euro has traded narrowly in calm Asian morning after yesterday's 'roller-coaster' ride. Price rallied fm 1.2351 (Asia) to intra-day high of 1.2434 in Europe on news of a German coalition deal is near.
However, selloff in global stocks led to usd buying and knocked price to a 10-day trough of 1.2314 in New York morning, while intra-day rally in U.S. equities prompted broad-based usd selling and sent the euro sharply higher back to 1.2405.

As yesterday's rally from 1.2314 to 1.2405 suggests recent correction from January's 3-year peak at 1.2538 has made a low, consolidation with upside bias is expected and price is likely to head towards 1.2434 in European trading, so buying the single ccy on dips is favoured.
Bids are noted at 1.2370-50 area with stops below 1.2335.
Offers are tipped at 1.2395/05 and more above with stops above 1.2435.

Euro area countries will release a slew of eco. data starting with Germany's industrial output, France's trade data and then Italy's retail sales. ECB's Nouy and Lautenschalager will be speaking at 09:00GMT.

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

Intra-Day Market Moving News and Views
08 Feb 2018 02:30GMT

USD/JPY - 109.29.. The pair remains range bound despite usd's strength vs other G7 currencies on Wednesday as market remains jittery by this week's global stock market rout, leading to continued broad-based yen buying, however, firm U.S. yields should underpin the buck and dips would attract renewed buying interest.

Despite yesterday's rebound from session lows of 108.92 in Europe to 109.69 near New York close, selling emerged below Wednesday's 109.72 and later knocked price back down to 109.12 just ahead of Tokyo open today before renewed buying emerged and lifted the pair, suggesting intra-day sideways swings would continue, so strategy is to buy dips and take profit on subsequent bounce.
Bids are noted at 109.15-05 with stops below 108.90, offers are tipped at 109.65/75 with stops above there, more stops are reported above 110.00.

U.S. eco. calendar is very thin with the usual weekly jobless claims being the only data due out.
After yesterday's speeches by a number of Fed's officials, we have Philly Fed President Harker (non-voter) speaking at 13:00GMT and Minneapolis Fed's Kaskari (non-voter) at 14:00GMT.

 

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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 2018 03:30GMT

USD/JPY - 108.87.. Dollar remains on the back foot after yesterday's selloff from 109.79 (Europe) to as low as 108.59 due to active sage-haven buying of the yen on risk aversion following another day of plunge in U.S. equities where the Dow fell 1,032 points, or 4.15% to 23,860.46.

Many traders have global market indices n charts on the screens as stock market prices take centre stage. The Nikkie shed over 3% (circa 32296, down 3.22%) following o/n selloff in the Dow and dlr briefly hit intra-day low of 108.50 before staging a recovery on bargain hunting.

Expect range trading for now as Asian traders await European stock markets' reaction at the open, price is likely to fall if the Dax and Footsie fall at the open, so trading the pair from short side in anticipation of more yen buying is favoured.
Offers are tipped at 109.00/10 with some stops above 109.20.
Bids are noted at 108.50-40 with stops reported below 108.25, more stops are touted below 108.00.

The only eco. data due out in the U.S. is wholesale inventories n sales, so all eyes are on the Dow n S&P 500, be nimble n be quick when stock indices swing around.

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AceTraderFx Feb 12: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
12 Feb 2018 03:10GMT

USD/JPY - 108.68.. Dlr moved in choppy fashion in fairly hectic Asian trading as financial markets are closed in Japan for National Foundation Day holiday.

Despite initial marginal gain to 108.95 in New Zealand following weekend Reuters report (see Sat. update) Japan's govt. has decided to nominate Kuroda for a rare 2nd term as governor of the central bank when his current one expires in Apr, usd's intra-day weakness quickly retreated n later retreated to 108.56 before stabilising, suggesting range trading is in store.

As Friday's rebound from New York's 5-month bottom at 108.05 due to rally in U.S. equities suggests temp. low has been made, consolidation with upside bias is envisaged, so buy the pair on dips is favoured. Bids are noted at 108.55-50 and more below with stops below 108.30.
Offers are tipped at 108.95/00 above more above with stops above 109.35.

As no eco. data is due out from the U.S. except Fed budget, the pair is expected to take its cues from intra-day moves in European stocks and later U.S. equities, if global stock markets follow Fri's rally in the Dow n move higher, dlr will head higher also in tandem on return of slight risk appetite as well as short covering.

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

Intra-Day Market Moving News and Views -EUR/USD
13 Feb 2018 03:10GMT

.. EUR/USD - 1.2288.. Euro maintains a firm undertone in Asian trading after extending marginal gain above yesterday's high at 1.2297 to 1.2307 ahead of Asian open after tripping stops above 1.2300.
However, price has eased on lack of follow-through buying.

Although yesterday's rebound from 1.2235 (New York low) to 1.2297 due to intra-day rise in the Dow has led to broad-based usd's weakness in New York afternoon, Asian traders are reluctant to push the euro higher ahead of European open, suggesting range reading below 1.2307 wud be seen.
Offers are noted at 1.2300/10 with stops touted above 1.2315.
Bids are noted at 1.2280-70 and more below with stops below 1.2230.

The only eco. data due out in the euro area countries today is France's non-farm payrolls.

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

Intra-Day Market Moving News and Views
14 Feb 2018 03:10GMT

USD/JPY - 107.66.. Although dlr shrugged off upbeat Japan's GDP data which showed economy grew for 8 consecutive quarters in longest streak for 28 year n climbed to 107.90 on bargain hunting by Japanese names (importers) following Tuesday's selloff to a fresh 5-month trough of 107.41 in New York, the pair pared intra-day gain and retreated to 107.64 as the Nikkie moved back to the red despite overnight minor gains in U.S. equities where the Dow closed very slightly up by 0.16% at 24640.

Looks like consolidation with downside bias would be seen n traders are eager to take probe at 2017 bottom at 107.32 where a daily close below there would pave the way for price to head towards 106.00 later this month.
Offers are tipped at 107.75/85 and more above with some stops above 108.05.
Bids re noted at 107.55-50 with a mixture of bids and stops touted at 107.35/30.

Some traders attributed to Tuesday's selloff whoch started in Tokyo on media report Japan's FSA is mulling the lowering of the max. leverage allowed on FX trading by individuals from current 25 times margin to 10 times this spring to curb risk taking.

Later today, all eyes are on release of key U.S. CPI n retail sales data, a higher-than-expected inflation reading will bolster mkt expectation of 3-4 Fed rate hikes this year n will lead to higher U.S. yields but the Dow will fall on such action and the yen will strength on risk aversion - a bit of a bewildering analysis isn't it !

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AceTraderFx Feb 15: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
15 Feb 2018 05:00GMT

EUR/USD - 1.2456.. Euro stand tall in relatively subdued Asian trading after yesterday's wild swings n subsequent impressive rally from 1.2276 to as high as 1.2465 in volatile post-U.S. CPI trading in New York session.

Although intra-day pullback after rising marginally higher to 1.2473 due to renewed broad-based yen's strength suggests minor consolidation is in store ahead of European open, as said yesterday's rally signals euro's correction from Jan's 3-year peak at 1.2538 is over, euro bulls are determined to re-test this major res level.

Therefore, buying the single ccy on dips is the way to go and bids are noted at 1.2450-40 and more below with stops reported below 1.2400.
Offers are tipped at 1.2475 n more above with stops above 1.2500.

Eco. release from the euro area countries will start off with France's unemployment, Italy's trade balance n the same from the EU. Several ECB members n European official will be speaking today, please refer to our EI page for details.

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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 2018 03:00GMT

USD/JPY - 106.74.. Dlr maintains a firm undertone in Asian morning after intra-day gain above Monday's 106.73 high to 106.79.

Although price moved narrowly in holiday-thinned North American after session, renewed buying emerged at 106.56 in Australia and sent price to intra-day high of 106.79, suggesting as long as 106.50/56 sup holds, marginal gain is likely. Bids are noted at 106.65-60 with stops touted below 106.50.
Offers are tipped at 106.80/85 with stops above 107.00.

U.S. markets will re-open a long w/end holiday but no econpmic release is scheduled, so traders will watch U.S. yields, U.S. bond auctions and the Dow for direction.

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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 2018 03:30GMT

USD/JPY - 107.80.. Dlr stand s tall in active Asian trading. The pair took centre stage and easily climbed above Tuesday's 107.38 high to a near 1-week high of 107.85 and broad-based yen selling, triggering stops above 107.40, then 107.60.

Traders cited yesterday's gain in Treasury yields as well as fairly successful auction of short-term U.S. debts were the reasons for intra-day rise, current broad-based gains in Asian stocks (N225 up 0.6% at 22064) also boosted risk appetite, suggesting price may head a bit higher in Europe, so buying on dips is the way to go.
Bids have been raised to 107.50-55 and more below and a mixture of offers with stops is touted at 108.00/05.

Although market focus is the release of minutes of last Fed's meeting at 19:00GMT, before that, U.S. will release MBA mortgage applications, Redbook retail sales, Markit manuf. and services PMI and existing home sales.
We also have Minneapolis Fed's Kashkari and Philly Fed's Harker speaking at 14:00GMT.

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