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

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AceTraderFx Jul 11: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
11 Jul 2018 03:00GMT

USD/JPY - 110.98.. Dlr finally pares intra-day losses after tumbling from 111.27 near NewYork close to 110.80 in Australia on news that U.S. will impose an extra $200 bln in tariffs on Chinese imports, the news triggered broad-based yen buying on risk aversion, price later hit intra-day low of 110.77 in early Asian trading before staging a minor bounce to 111.02 on short covering.

Yesterday's decline from a 6-week high of 111.35 suggests price is not ready to re-test May's 111.40 and intra-day weakness to 110.77 confirms recent cross-inspired upmove has made a temp. top there with U.S. yields falling in Asia on the China tariff news, downside bias remains for stronger retracement towards 110.28. Therefore, selling dlr on recovery is the way to go.
Offers are tipped at 111.00/10 and more above with stops reported above 111.40.
Some bids are noted at 110.80-75 with stops below there.

On the data front, U.S. will release MBA mortgage applications, June PPI, wholesale inventories n wholesale sales. Atlanta Fed President Bostic (voter) will speak at 16:30GMT.

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

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

USD/JPY - 112.28.. Dlr stands tall in active trading in Tokyo morning session. Despite initial narrow move in Australia after early pullback from a 6-month peak of 112.17 (New York), renewed buying emerged at 111.92 and lifted price, the pair later penetrated 112.17 to 112.35.

Current firmness suggests dlr still has legs to move higher after minor consolidation, so buying the greenback on pullback is the way to go.
Bids have been raised to 112.00-90 with stops below there.
Some offers are tipped at 112.35/45 with stops above112.80.

On the data front, U.S. will release key inflation gauge, Jun CPI, initial weekly jobless claims, real weekly earnings n Federal budget. Minneapolis Fed President Kashkari will speak at 12:30GMT.

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

Intra-Day Market Moving News and Views
13 Jul 2018 03:10GMT

EUR/USD - 1.1667.. Euro trades narrowly but with a soft undertone in subdued Asian morning. Despite hitting session lows of 1.1650 after ECB minutes, the pair rallied on short covering in tandem with cable to 1.1696 near New York midday, however, price was then dragged lower by intra-day weakness in sterling and move back to 1.1655 in Australia earlier.

Euro's retreat from 1.1696 suggests re-test of 1.1650 low would be seen after consolidation, break would extend decline from Monday's 3-week high at 1.1791 to 1.1630, however, as broad outlook remains consolidative, reckon last week's low at 1.1591 should remain intact.
Offers are tipped at 1.1675/85 and more above with stops reported above 1.1700.
Bids are noted at 1.165-50 with stops below 1.1630, more stops are touted below 1.1590.

On the data front, Germany will release wholesale price index n the France's nonfarm payrolls.

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

Intra-Day Market Moving News and Views
16 Jul 2018 03:10GMT

USD/JPY - 112.50.. The greenback or the Japanese yen took centre stage in holiday-thinned Asian trading ( Japanese financial market is closed for Marine Day holiday). Although price initially opened lower n fell to 112.12 in New Zealand, a bout of yen selling quickly emerged n lifted price back up to 112.57 in Asian morning.

Intra-day rebound from 112.12 suggests the pullback from last Friday's fresh 6-month peak at 1112.80 has possibly ended and consolidation with upside bias is in store until European open.
Bids are noted at 112.25-15 with stops touted below 111.90.
Offers are tipped at 112.55/60 n more above with stops above 112.80.

On the data front, U.S. will release a slew of eco. data starting with New York Fed mfg index, June retail sales and business inventories.
Also, U.S. Trump will be meeting Russia's Putin in Helsinki at 10:15GMT.

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AceTraderFx Jul 17: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
17 Jul 2018 03:10GMT

EUR/USD - 1.1708.. The single currency moved narrowly in subdued Asian morning after yesterday's rally to 1.1725 near London midday before briefly retreating to 1.1695 on profit taking in New York.

Looks like range trading would continue until European open, however, as yesterday's rise above 1.1700 to 1.1725 suggests early correction from July's 1.1791 peak has ended at 1.1613 on Friday, consolidation with upside bias remains for further headway towards 1.1758, so trading from long side is the way to go.
Bids are noted at 1.1700-1.1695 and more below with stops reported below 1.1670.
Offers are tipped at 1.1720/25 with stops above 1.1760.

Italy is the only euro area country which will release a slew of eco. data starting with industrial order, industrial sales n Jun CPI.

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AceTraderFx Jul 18: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
18 Jul 2018 03:10GMT

USD/JPY - 112.94.. Although dlr extended yesterday's gain n briefly climbed above Ne York high at 112.92 to a fresh 6-month peak of 113.08 ahead of Tokyo open, lack of follow-through buying quickly nudged price lower on profit taking, then pair edged back to 112.88/89.

Expect sideways trading ahead of European open, however, as yesterday's break of last week's high at 112.80 confirms Medium Term upmove has once again resumed, price is en route towards next daily obj. at 113.39, therefore, buying the greenback on dips due to usd's broad-based strength following Tuesday's Fed J. Powell's upbeat testimony is the way to go.
Bids are noted at 112.80-70 n more below with stops below 112.50.
Offers are tipped at 113.05/15 with stops above 113.30.

On the data front, U.S. will release MBA mortgage applications, building permits, housing starts and then Fed beige book. Fed chairman Powell will speak again on Capital Hill on the second day of his 2-day semi-annual testimony, he will speak before the House Financial Services Committee at 14:00GMT, so usd may remain bid when his prepared text (probably the same one as Tuesday) is released.

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AceTraderFx Jul 19: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
19 Jul 2018 03:00GMT

EUR/USD - 1.1642.. Euro moved sideways in directionless Asian morning after staging a rebound from Wednesdsay's 2-week low of 1.1602 to 1.1662 in New York session as broad-based pullback in USD triggered short covering in the euro.

Although said yesterday's bounce suggests recent decline from July's 1.1791 peak has made a temp. low there and range trading is in store, as long as 1.1676 (previous sup, now res) holds, consolidation with downside bias remains for another fall later today.
Offers are tipped at 1.1660/65 with stops above 1.1680.
Bids are noted at 1.1630-20 with stops below 1.1590.

No eco. data is due out in the euro area, so technical trading n fund flow will have a strong influence on intra-day price swings.

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AceTraderFx Jul 20: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
20 Jul 2018 03:10GMT

EUR/USD - 1.1646.. Euro has stabilised ahead of Tokyo lunch break after retreating to 1.1626 led by intra-day decline in eur/yen due to buying of yen on risk aversion after China's lowered the mid-point fixing rate of the CNY to the lowest level in a year, however, renewed buying quickly emerged n lifted the pair.

Despite continuing its losing streak and hitting a fresh 2-week trough of 1.1575, euro's subsequent jump to 1.1678 near New York midday following usd-negative comments by Trump in an interview with CNBC (see prev. update for details) suggests recent decline has made a low and consolidation with upside bias remains for a stronger retracement of early fall from July's 1.1791 peak.
Bids are noted at 1.1650-40 n more below with stops below 1.1600.
Offers are tipped at 1.1665/75 wit stops above 1.1700.

On the data front, Germany will release PPI n then EU's current account.

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AceTraderFx Jul 23: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
23 Jul 2018 03:10GMT

USD/JPY - 110.94.. The pair took centre stage in hectic trading on Monday due to broad-based yen buying.

Despite initial narrow trading in New Zealand/Australia morning, renewd usd selling emerged at 111.51 ahead of Tokyo open and price tumbled to an 11-day trough of 110.75 after tripping stops below 111.20.

Trader cited Reuters and other media reports over the weekend that the BOJ could debate changes in its monetary policy at its upcoming meeting, with potential tweaks to its interest rate targets and stock-buying techniques were the main reason for intra-day yen rally. However, the pair briefly recovered after BoJ announced its first unlimited JGB buying since Feb.

Dlr's selloff from last Thursday's 6-month to as low as 110.75 signals Medium Term upmove has made a top there and selling the greenback for weakness to next chart obj. at 110.28 is strongly recommended.
Offers have been lowered to 111.20/30 with stops above 111.55.
Bids are noted at 110.75-65 and more below with stops below 110.20.

On the data front, U.S. will release Chicago national activity index n existing home sales later today.

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

Intra-Day Market Moving News and Views
24 Jul 2018 03:10GMT

USD/JPY - 111.25.. Dlr reclaimed 111.00 handle after yesterday's intra-day selloff from 111.51 (Nealand Zealand) to 110.75 in hectic Tokyo trading as jump in JGB yields on media report the BoJ may tweak its policy at its next monetary meeting (Tuesday next week) triggered active yen buying, however, rising U.S. yields helped the greenback erase its intra-day losses n price later climbed to 111.54 in New York morning before easing.

Although st specs pushed price from 111.29 to 111.51 ahead of Tokyo open, dlr fell to intra-day low of 111.06 after PBOC set the yuan's reference rate to a fresh near 1-year low, however, short covering lifted price to 111.25, suggesting choppy sideways swings are in store until European open.

AS mentioned in yesterday's update, dlr's selloff from last Thursday's 6-month peak at 113.17 to 110.75 on Monday signals long-awaited correction of Medium Term uptrend has occured.
Downside bias remains for price to head back to 110.28 (July bottom), therefore, trading dlr from short side (our daily and weekly strategies are holding short usd positions) is recommended.
Offers are tipped at 111.45/45 with stops above 111.60.
Bids are noted at 111.10-00 and more below with stops below 110.70.

On the data front, U.S. will release Redbook sales, monthly home price, Markit mfg n services PMI n Richmond Fed mfg index.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates