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

AceTraderFx Jul 10: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 10 Jul 2019 03:00GMT

USD/JPY - 108.90.. Although dlr retreated from Tuesday's near 3-week high of 108.96 (Europe) to 108.74 in New York morning on profit taking and trading broadly sideways in subdued New York afternoon, the pair regained traction at Tokyo open n climbed to 108.98 due to renewed usd's strength before easing.

Dlr's intra-day marginal gain suggests recent upmove remains in progress n would head to daily target at 109.15 after consolidation, loss of momentum would prevent strong gain in Europe and risk has increased for a minor correction ahead of key event later today where Fed's chair J. Powell will present Fed's Semiannual Monetary Report to the Congress before the Senate Banking Committee and any dovish comments by him may send the greenback tumbling, however, on the flip side, if he reiterates the Fed's rate decision is data dependent, then dlr may briefly jump on that.
For now, trading from the long side is preferred. Bids are noted at 108.75-70 with stops below 108.60.
While offers are tipped at 109.00/05 with stops above 109.15/20.

On the data front, U.S. will release MBA mortgage applications, wholesale inventories n then at 18:00GMT, the important FOMC minutes but this may have muted impact after J. Powell's testimony. We also have Fed's Geroge speaking in Helsinki at 04:50GMT, J. Powell's testimont at 14:00GMT, Fed's Bullard at 17:30GMT n also Fed's Quarles at the same time also.

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AceTraderFx Jul 11: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 11 Jul 2019 03:00GMT

USD/JPY - 108.01.. The greenback took centre stage in active Asian trading on Thur due to broad-based buying of yen following yesterday's selloff from a 1-month high of 108.99 (Asia) to 108.53 after release of dovish prepared testimony of J. Powell which boltered market expectation of an immediate rate cut at next Fed's meeting in Jul, price later weakened to 108.36 after release of dovish FOMC minutes.

Dlr met renewed selling at 106.45 in Australian morning and penetrated said yesterday's low, intra-day decline continued in Asian morning n price tumbled to 107.99. As the selloff from 108.99 suggests upmove from June's 106.79 bottom has possibly ended, downside bias remains for further weakness towards 107.54 tomorrow or early next week, therefore, selling the buck on recovery is strongly recommended, current falling U.S. yields add credence to present bearish scenario.
Offers have been lowered to 108.25/35 with stops above 108.50, some bids are noted above 107.95-90 with stops below 107.80.

On the data front, U.S. will release core CPI, CPI and Fed's budget. Pay attention to Fed J. Powell's second day on Capital Hill at 14:00GMT as well as speeches by a number of other Fed officials afterwards (see our EI section for details).

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AceTraderFx Jul 12: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 12 Jul 2019 03:00GMT

USD/JPY - 108.41.. Despite extending decline from Wednesday's 1-month high of 108.99 to 107.86 in Asian morning yesterday, the greenback caught a bid in New York session n rallied to as high as 108.52 due to broad-based usd's rebound after release of stronger-than-expected U.S. inflation data together with rising treasury yields (benchmark 10-year rose from 2.037% to as high as 2.15%).

The pair extended Thursday's gain to 108.60 ahead of Tokyo open before easing after meeting selling interest from Japanese names (exporters). Although Thursday's upbeat U.S. CPI has dampened market expectations of aggressive rate cuts by the Fed, bearish bias on USD remains as Fed J. Powell repeated his dovish comments in his 2nd testimony on Capital Hill yesterday, suggesting a strong likelihood of a 25 b.p. rate reduction at July's FOMC meeting, therefore, 108.99 top should hold from here. For now, offers are tipped at 108.60/70 and more above with stops reported above 109.00.
Bids are noted at 108.30-20 with stops below 108.00.

T.G.I.F., on the data front, U.S. will later release PPI final, core PI final n export price. We also have Chicago Fed President Evans speaking at a financial forum in Chicago ar 14:00GMT.

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AceTraderFx Jul 15: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 15 Jul 2019 03:00GMT

EUR/USD - 1.1266.. The single currency also moves narrowly in lackluster Asian morning after staging a rebound from 1.1239 at New York open on Friday to 1.1274 in afternoon session, price edged higher to 1.1277 in Australia earlier today b4 easing.

As euro's said bounce from 1.1239 on Friday top 1.1277 today suggests early pullback from last week's high at 1.1285 (Thursday) has ended, upside bias remains for upmove from last Tuesday's near 3-week trough at 1.1194 to head to previous res area at 1.1311/21 after consolidation, however, loss of upward momentum is expected to cap price below 1.1345 today.
Order book is pretty thin on Monday with some bids noted at 1.1250-40 with stops touted below 1.1230 while some offers are tipped at 1.1285/95 with stops reported above 1.1300.

No eco. data is due out from the euro area countries and neither are there any ECB or EZ officials scheduled to speak today.

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AceTraderFx Jul 16: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 16 Jul 2019 03:00GMT

USD/JPY - 107.95.. Although the pair did not benefit from USD's broad-based gain vs its G7 peers and New York session yesterday after release of upbeat U.S. Empire State mfg index due to renewed cross-buying in yen, price caught a bid at Tokyo open and briefly jumped to 108.09, suggesting choppy sideways trading above last week's low at 107.81 (Friday) would continue.

Having said that, as dlr's decline from July's 108.99 high suggests recent upmove has made a top there, price is en route to re-test July's 107.54 bottom after present choppy consolidation is over, however, loss of downward momentum should keep dlr above 107.06.
Offers are tipped at 108.10/15 with some stops above 108.25, bids are noted at 107.85-80 with stops below 107.70.

The U.S. will release a slew of eco. data starting with import n export price, retail sales, Redbook sales, industrial production, capacity utilization, mfg output, business inventories and NAHB housing market index. Therefore, one can expect dlr to move after these data come out. We also have a number of Fed officials speaking during U.S. session, please refer to our EI section for details.

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AceTraderFx Jul 17: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 17 July 2019 03:00GMT

EUR/USD - 1.1209.. The single currency remains on the back foot in relatively subdued Asian trading after falling yesterday from 1.1263 (AUS) to 1.1208 in New York afternoon session.
Intra-day decline began in early European trading due initially to selloff in sterling, then release of downbeat ZEW economic sentiment, the release of robust U.S. retail sales later pressured price to sessions lows of 1.1208.

As Tuesday's weakness to 1.1208 signals early recovery from last week's 1.1194 low has ended at 1.1285, below said sup would extend decline from 1.1412 (June's 3-month peak) to next daily obj. at 1.1182, however, oversold condition is likely to limit weakness to 1.1145/50.
Offers are tipped at 1.1220/30 and more above with stops above 1.1265.
Bids are noted at 1.1205-1.1195 with stops reported below 1.1180.

On the data front, Italy will kick off with industrial orders and sales, then EU's construction output, HCIP final and core HICP.
ECB board member Coeure will participate at an event in Paris at 07:30GMT.
We have a 2-day G7 FinMin and central bank governors meeting in Chantilly, France today, ECB Preisent Draghi and ECB's Coeure will participate in the meeting.
Also, ECB's board member and Buba President Weidmann will speak in Germany at 10:00GMT.

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AceTraderFx Jul 18: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 18 Jul 2019 03:00GMT

USD/JPY - 107.67.. The greenback remained under pressure in Australia following yesterday's decline from 108.32 to 107.95 in New York session as a sharp fall in U.S. Treasury yields (benchmark 10-year yield dropped from 2.11% to 2.043%) led to broad-based usd selling.

Dollar fell initially to 107.88 before a minor recovery but only to meet renewed selling at Tokyo open on broad-based yen buying, the pair penetrated last week's 107.81 (Friday) low to 107.65 after tripping stops below 107.80, suggesting re-test of July's 107.54 bottom is on the cards, however, recon 107.06/10 would hold today.
Offers have been lowered to 107.85/90 and more above with stops above 108.15 while a mixture of bids and stops is reported at 107.55-50.

U.S. will release a slew of eco. data starting with weekly jobless claims, Philly Fed business index and then leading indicators. Also we have Atlanta Fed President Bostic and New York Fed President Williams speaking at 13:30GMT n 18:15GMT respectively in New York session.

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AceTraderFx Jul 19: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 19 July 2019 03:00GMT

EUR/USD - 1.1263.. Trading the single currency proved to be tricky in hectic Thursday's session. Although euro extended previous day's gain to 1.1244 shortly after European morning, price briefly fell to 1.1206 on dovish ECB's report by Bloomberg n only later to jump to session highs of 1.1280 in NY afternoon due to broad-based usd's weakness on Fed Williams' dovish remarks but official statement by New York Fed briefly knocked price back down to 1.1241 in Australia.

Euro's daily swings seen this week suggests recent price gyrations inside 1.1285-1.1201 range would continue and as long as upper level holds, another fall towards 1.1201 is likely but below July's 1.1194 bottom needed to extend recent decline towards projected downside target at 1.1150.
Offers are tipped at 1.1275/85 with stops above there whilst bids are noted at 1.1245-35 with stop below 1.1220, more stops are touted below 1.1190, then below 1.1180.

On the data front, Germany will kick off with PPI n then followed by EU's current account.

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AceTraderFx Jul 22: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 22 Jul 2019 03:00GMT

USD/JPY - 107.97.. Dlr remains on the front foot in Asian trading on Monday after Friday's intra-day gain to 107.96 due to broad-based usd's strength. Price opened around 107.78 in New Zealand and renewed buying at 107.71 pushed price to 108.06 in Asia partly on cross-selling in yen.

The rally from last Thursday's 3-week trough at 107.22 suggests recent erratic decline from July's 108.99 peak has made a low there and consolidation with upside bias is seen for at least a strong retracement of this move to daily target at 108.15, loss of momentum is likely to limit upside to 108.37.
Bids have been raised to 107.80-70 with stops below 107.50 while offers are tipped at 108.30/40 with stops above there.

U.S. economic calendar is very light today with Chicago national activity index for July being the only data due out at 12:30GMT, so order flows will have a strong impact on intra-day price swings. BOJ Governor Kuroda will deliver a speech at an IMF event in Washington DC at 15:00GMT.

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AceTraderFx Jul 23: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 23 Jul 2019 03:00GMT

USD/JPY - 108.06.. Although dlr briefly dipped to 107.84 at Tokyo open on renewed cross-buying in yen, a bout of usa buying quickly erased and lifted price, the pair easily penetrated Monday's 108.06 high and climbed to 108.07 due to sudden bounce in U.S yields.

As intra-day gain in usd/yen has led to broad-based gain in the greenback, suggesting upside bias remains for upmove from last Thursday's 3-week trough at 107.22 to head to next chart obj. at 108.37, however, reckon res at 108.60 would cap upside.
Bids have been raised to 107.95-90 with stops below 107.70 while offers are tipped at 108.15/20 with stops touted above 108.40.

U.S. will release a slew of eco. data later today starting with Redbook sales, home price, existing home sales and Richmond Fed mfg index.

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