AcetraderFx May 6: Intra-Day Market Moving News and Views EUR/USD

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AceTraderFx May 19: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
19 May 2015 07:49GMT

EUR/USD - 1.1170... Despite a brief recovery from 1.1277 to 1.1307 in European morning, price tumbled sharply lower to 1.1160 following comments from ECB's Executive Board member Benoit Coeure said that the central bank intends to increase its purchases of euro-area assets in May and June ahead of an expected low-liquidity period in the summer.(see our previous MMN).

At present, offers are building up from 1.1180 up to 1.1200 with mixture of offers and stops at 1.1220-30.
On the upside, bids are placed at 1.1150-1.1140 and around 1.1120 with buying interest from sovereign accounts around 1.1100.

 

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AceTraderFx May 28: Intra-Day News and Views (EUR/USD) & data to be released today

Intra-day Market Moving News and Views
28 May 2015 00:38GMT

EUR/USD - ..... Euro rebounded from Wed's fresh 1-week low of 1.0819 in volatile trading in NY. Bloomberg initially reported progress was being made between Greece and its international creditors. More headlines and reports emerged later in NY afternoon session.

The latest news according to Reuters report which came out after NY close is Greece and its international creditors have converged on key points on a cash-for-reforms deal but talks still have some room to cover before an agreement is clinched, according to Greece's economy minister.

"Right now negotiations are continuing, ... there have been big points of convergence," George Stathakis told Mega TV's On Line show. "There is still room to cover in the negotiations."
Greece's leftist-led gov't said on Wednesday it is starting to draft an agreement with its euro zone partners and the IMF that would pave the way for aid, but European officials dismissed this as wishful thinking.

While German FinMin Wolfgang Schaeuble was surprised by the upbeat tone from some Greek gov't officials, he said there was not much progress in the debt talks.
Stathakis said Athens has no "plan B" despite recent threats by some ministers that the cash-strapped government may default on loan repayments to the IMF. "I think (reaching) a deal is a one-way street, otherwise we would be entering uncharted waters,".

Greece and its EU/IMF lenders have been locked in tortuous negotiations on a reforms agreement for four months without a breakthrough in sight. Without a deal, Athens risks default or bankruptcy in weeks.

Stathakis said there will be one complete agreement and no partial deals."The agreement will cover the set of measures for this year and 2016 and the way that the funding gap will be covered in combination with the debt issue," he said.
Asked how much funding Greece would need, Stathakis said: "If one leaves the debt as is, there may be a need for 30 bln euros, If the debt issue is tackled, the (funding) need may be 10 bln euros."

Thursday will see the release of Japan's retail sales, Australia's building CAPEX, Swiss industrial orders, U.K. Q1 GDP, eurozone business climate and consumer confidence, Canada's production prices, U.S. pending home sales.

 

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AceTraderFx Jun 1:Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
01 Jun 2015 07:53GMT

EUR/USD - ...... Although euro staged a recovery after early intra-day sell off from 1.0988 to 1.0931 in Asia, price fell again after meeting renewed selling interest at 1.0968 and then fell to a fresh session low at 1.0907 in European morning due to a 'euro-bearish' news from German newspaper (see our previous MMN).

Investors are now awaiting the release of Markit/BME mfg PMI for Germany and Markit mfg PMI for euro zone at 07:55GMT and 08:00GMT respectively. Market expects the Markit mfg PMI for euro zone to be unchanged at 52.3 in May.

At the moment, stops located below 1.0900 are now in focus but buying interest from sovereign accounts is tipped in 1.0890-1.0870 region with mixture of bids and stops at 1.0850-40.
On the upside, fresh offers are building up at 1.0920-30 and more around 1.0950 with stops located just above 1.0970.

 

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AceTraderFx Jun 4: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
04 Jun 2015 07:05GMT

EUR/USD - ..... Despite yesterday's ferocious rally to a 2-week high of 1.1285 in NY morning after 10-year German Bund yields staged its sharpest 2-day rise since 1998, euro pared yesterday's gain as intra-day Bund yields eased, currently 0.899% vs Wednesday's high of 0.954% (intra-day traders are advised to follow short-term interest rate swings).

The single currency fell from Asian high at 1.1276 to 1.1235 in early European trading after tripping stops below 1.1240, current softness suggests choppy trading with downside bias remains.
As yesterday's rally was partly driven by heavy stoploss-buying, not a lot of bids are noted, a mixture of buying interest and stops is reported at 1.1195-85, below there would spark more technical selling.
Offers are seen at 1.1250-60 and more above with stops touted above 1.1300.

After a slew of heavy EZ eco. data in last few days, no European data are due out today but Jean-Claude Juncker, President of European Commission, is due to make a speech at 08:00GMT.

 

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AceTraderFx Jun 5: IIntra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
05 Jun 2015 06:30GMT

EUR/USD - ...... Bundesbank Chief Weidmann says 'key factor behind subdued inflation outlook is sharp drop in crude oil prices; growing labour mkt shortages are supply-side risk to growth and could lead to increased price pressures; foreign trade hampered by dampening global dynamics but also buoyed by euro's depreciation and strengthening cyclical recovery in eurozone.'

Earlier it was reported that Greece's leftist-led government may call early elections if the country's international lenders do not soften their terms for a cash-for-reforms deal, suggested by the Deputy Social Security Minister Dimitris Stratoulis, a hardliner in the gov't.
"The lenders want to impose hard measures. If they do not back down from this package of blackmail the gov't ... will have to seek alternative solutions, elections," he said.

Stratoulis is closer to the far-left faction of the ruling Syriza party, and it was not unclear if the statement represented a wider view within the party. But it underlined the deep anger at the proposal from lenders and a growing sense that the party will seek alternatives to avoid accepting the plan.

Greece delayed a key debt payment to the IMF due on Friday as PM Alexis Tsipras, facing fury among his leftist supporters, demanded changes to tough terms from international creditors for aid to stave off default.

 

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AceTraderFx Jun 8: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
08 Jun 2015 06:33GMT

EUR/USD - ..... Although euro edged higher after opening lower to 1.1083 in NZ and then staged a brief bounce to 1.1125 at European open due to release of upbeat Germany's trade surplus and industrial data, renewed selling interest quickly emerged and knocked price down below 1.1100 level again to 1.1087.

On Mon, Destatis said that Germany's trade balance rose to 22.3 bln euros, from 19.4 bln euros in the preceding month whose figure was revised up from 19.3 bln euros.
In a separate report, Destatis said that German industrial production rose to a seasonally adjusted annual rate of 0.9% in April, from -0.4% in the preceding month whose figure was revised up from -0.5%.

On Friday Euro tumbled from 1.1280 to 1.1049 in NY morning as upbeat U.S. jobs reports triggered broad-based buying in the greenback. Despite staging a recovery to 1.1136, price edged lower after NZ open on Monday and fell to 1.1084.
Euro is expected to remain under pressure ahead of European open and selling the eur/usd pair on recovery is recommended.

 

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AceTraderFx Jun 12: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
12 Jun 2015 07:32GMT

EUR/USD - ...... Although euro came under renewed selling pressure after a brief rise to 1.1264 in Asia and then fell to 1.1216 at European open, investors were reluctant to pressure price lower in subdued European morning trading and euro later staged a bounce to 1.1247.

Investors are now awaiting the release of euro zone's industrial production data at 09:00GMT.
Until then, choppy trading with a soft bias is envisaged. At present, offers are touted at 1.1270-80 and then 1.1295/00 with mixture of offers and stops at 1.1310-20, whilst bids are tipped in 1.1200-1.1180 region.

 

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AceTraderFx Jun 15: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
5 Jun 2015 09:00GMT

EUR/USD - ..... Despite initial gap-down open in NZ today around 1.1225 vs Friday's close around 1.1264 to an intra-day low of 1.1189 at European open.
Euro shrugged off weekend's bearish report of a collapse in Sunday's Greek debt talk and climbed back to where it left off to 1.1261 due to broad-based short-covering in euro.

The intra-day roller-coaster move means damn if you sell (in early Europe) and damn if you buy (on present pullback) as price continues to swing wildly.

Looks like some layers of bids are placed at 1.1200-1.1190 and offers tipped at 1.1260/70 with stops reported above Fri's high at 1.1297.
As price is currently trading near the middle of intra-day range, best to stand aside for the time being.

 

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AceTraderFx Jun 17: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
17 Jun 2015 07:32GMT

EUR/USD - ...... Although euro rebounded after intra-day retreat from Asian high of 1.1266 to 1.1242 in European morning and then climbed marginally higher to 1.1278, active selling in eur/chf cross (rumours of safe-haven flows into franc) checked intra-day gain there so far and price retreated to 1.1255.

Investors are now awaiting for the release of euro zone's inflation data at 09:00GMT.
At present, bids are touted at 1.1240-30 and around 1.1220 with stops building below 1.1200.
On the upside, offers from various accounts are placed at 1.1270-80, then 1.1295/00 with stops just above 1.1300.

 

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AceTraderFx Jun 23: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
23 Jun 2015 07:51GMT

EUR/USD - ..... Although Euro recovered after a brief breach of Asian sup at 1.1257 to 1.1242 in European morning due to the release of upbeat PMI reports from France and Germany, renewed selling due to concerns over Greek debt after official comments capped such gain at 1.1282.

At present, investors are awaiting the release of euro zone PMIs at 09:00GMT, whilst Italy's industrial production n retail sales are to be released at 08:00GMT n 09:00GMT respectively.

Offers are reported at 1.1290-00 and then 1.1310/15 with mixture of offers and stops at 1.1320-30.
On the downside, bids from various accounts are placed at 1.1240-1.1230 and then 1.1210/05 with stops building just below 1.1200.

Earlier Austrian FinMin said that there would be no agreement on Greek proposals without a concrete plan for implementation, laws; and that a third Greek bailout programme must not be introduced through back door, and unless there was a concrete plan showing how they would be carried out.

Greece had took a step back from the abyss on Monday when it presented proposals that euro zone leaders welcomed as a basis for a possible agreement in the coming days to unlock frozen aid and avert a looming default.