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

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AceTraderFx Oct 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 Oct 2019 03:30GMT

EUR/USD - 1.0939
Despite euro's resumption of medium term decline to a fresh 28-month trough of 1.0880 in Europe on Tuesday, subsequent rally to 1.0942 (New York) on usd's broad-based weakness suggests temporary low is in place and stronger retracement towards 1.0967 would be seen before prospect of another fall.

Below 1.0906/08 needed to bring re-test of 1.0880, break, 1.0840 later. Only above 1.1000/05 would risk gain towards 1.1025.

There is no eco. data due out from the euro area countries, however, one should keep an eye out for a speech by ECB Vice President de Guindos at a meeting organised by the ECB in FFT at 12:00GMT.

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AceTraderFx Oct 02: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 02 Sept 2019 04:30GMT

GBP/USD - 1.2288... The British pound moves narrowly in Asian session after yesterday's roller-coaster ride. Although cable gained from 1.2260 to 1.2312 in Europe on Tuesday, price dropped to a 26-day low at 1.2205 in New York morning on cross-selling in sterling.
However, the pair then rallied to session highs at 1.2340 after Bloomberg reported that EU is ready to consider a time-limit on Irish backstop as well as weak U.S. manufacturing data before weakening to 1.2260. Price then rebounded to 1.2314 before moving broadly sideways.

Despite cable's resumption of decline from September's 2-month peak at 1.2582 to 1.2205 yesterday, subsequent rally to 1.2340 suggests temporary low is in place and further gain towards 1.2360/66 would be seen after consolidation, however, reckon 1.2381/93 would remain intact and yield retreat.
Bids are noted at 1.2270-60 with stops below 1.2240 while offers are tipped at 1.2310/20 with more above and stops above 1.2380.

The only economic data coming from the UK today is Markit construction PMI.
However, traders should keep an eye out for any Brexit development.

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AceTraderFx Oct 03: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 03 Sept 2019 04:30GMT

GBP/USD - 1.2302... The British pound pares yesterday's gain in calm Asian trading. Although cable fell from 1.2300 at Asian open to session lows at 1.2227 in European morning on Wednesday due partly to the release of soft UK construction data, price found renewed buying and later rose to an intra-day high at 1.2324 in New York due to renewed usd's weakness together with Brexit optimism after UK Prime Minister Boris Johnson gave details of his Brexit proposal before moving broadly sideways.

Although cable's rally from a 3-week bottom at 1.2205 to 1.2340 on Tue suggests recent decline from September's 2-month peak at 1.2582 has made a temporary low there, as long as 1.2347 (Monday's high) holds, consolidation with downside bias remains and below 1.2205 would extend said fall to 1.2180/90.
Offers are tipped at 1.2320/25 with stops above 1.2350 while bids are noted at 1.2270-60 with more below and stops reported below 1.2200.

On the economic calendar today, UK will only release Markit services PMI.
However, traders should remain cautious for Brexit headlines.

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AceTraderFx Oct 04: Intra-Day News and Views & data to be released today - USD/JPY

Intra-Day Market Moving News and Views
Update Time: 04 Sept 2019 04:30GMT

USD/JPY - 106.77.. Dollar is nursing loss in subdued Asian morning after hitting a near 4-week low of 106.49 in New York morning on Thursday as downbeat U.S. services data (following very weak mfg data on Wednesday) and falling yields led to market speculation Fed will cut its rate again at October 29-30 FOMC, however, profit taking soon emerged and later lifted price back up to 106.96.

Intra-day recovery from 106.49 suggests range trading is likely to continue in European morning as traders are keeping their powder dry ahead of release of key U.S. payrolls and average earnings data.
Bids are noted at 106.70-60 with stops below 106.40 while offers are tipped at 106.90/00 with stop reported above 107.30.

U.S. will later release the blockbuster NFP, average earnings, unemployment rate, international trade and trade balance. We also have a number of Fed officials scheduled to speak in New York afternoon, pay particular attention to Fed's Powell when he speaks at 18:00GMT (pleae refer to our EI section for details).

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AceTraderFx Oct 08: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 08 Sept 2019 04:30GMT

GBP/USD - 1.2294... The British pound recovers in Asian trading after yesterday's roller-coaster ride. Although cable edged up to 1.2336 in New Zealand, price met renewed selling and fell to an intra-day low of 1.2288 in European morning on Brexit news before rebounding to 1.2333 ahead of New York open but only to retreat in tandem with euro to 1.2290 near the New York close due to usd's strength.

Despite euro's corrective rise from last Tuesday's 3-week trough at 1.2205 to as high as 1.2413 on Thursday, subsequent selloff to 1.2276 Friday suggests temporary top is in place and yesterday's sideways swings would yield consolidation before prospect of another fall but below 1.2227 needed to bring re-test of 1.2205.
Offers are tipped at 1.2305/10 with more above and stops above 1.2360 while bids are noted at 1.2265-60 with stops below 1.2230.

Although there is no economic data coming out from UK today, we have Bank of England Governor, Mark Carney due to speak at 04:00 GMT at the task force on climate-related financial disclosure summit in Tokyo. Later, Bank of England MPC member Silvana Tenreyro will take part in a panel conversation at the ECB's annual conference on monetary policy at 09:30 GMT.

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AceTraderFx Oct 09: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 09 Sept 2019 04:30GMT

GBP/USD - 1.2215... The British pound moves narrowly in subdued Asian trading after yesterday's selloff. Although cable recovered to 1.2302 at European open on Tuesday, price met renewed selling and later tumbled to a 1-month bottom at 1.2196 in New York morning on renewed Brexit concern after news reported breakdown in Brexit talks before rebounding to 1.2226 in Australia today on short-covering.

Cable's selloff from last Thursday's high at 1.2413 and then yesterday's break of last Tuesday's 1.2205 low to 1.2196 confirms recent decline from September's 2-month peak at 1.2582 has once again resumed and further weakness towards 1.2180 would be seen after consolidation but oversold condition should keep price above 1.2142.
Offers are tipped at 1.2225/35 with stops above 1.2255/60 while bids are noted at 1.2190 with more below with stops reported below 1.2150.

Although there is no economic data coming out form UK today, Bank of England will publish its Financial Policy Summary and Record of the Financial Policy Committee meeting at 08:30 GMT. Traders should also remain cautious on any Brexit headlines that may cause some volatility.

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

Intra-Day Market Moving News and Views
Update Time: 10 Sept 2019 04:30GMT

USD/JPY - 107.56.. The greenback swung 'wildly' in early trading on Thur as market lays hostage to conflicting U.S./China news on latest trade talks.

Although price tumbled in Australia morning on HK SCMP news of no progress in preliminary U.S./China trade talks and China delegates will leave one day early after today's high-level talk is finished, dollar erased initial loss and later rallied to 107.76 on subsequent release of positive news (see early updates), suggesting corrective rise from last Thursday's near 4-week low at 106.49 may head to 107.89.
Bids are noted at 107.45-35 and more below with stops touted below 107.00.
Offers are tipped at 107.80/90 with stops reported above 108.00.

With Wed's FOMC minutes now a distant memory, market will focus on release of a slew of U.S. data later today (see our EI section for details), pay particular attention to CPI and core CPI as well as real weekly earnings for September.
We also have Minneapolis Fed's Kashkari and San Francisco Fed's Daly speaking in New York session.

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

Intra-Day Market Moving News and Views
Update Time: 11 Oct 2019 04:30GMT

GBP/USD - 1.2438... The British pound pares yesterday's gain in relatively calm Asian trading. Cable initially gained from 1.2203 in Australia to 1.2265 in Europe on Thursday and despite subsequent retreat to 1.2216 in New York morning, price found renewed buying and rallied to a 2-week high at 1.2469 on positive Brexit news after UK Prime Minister Johnson met with Irish Prime Minister Varadkar before weakening to 1.2420 (Reuters) in Australia today on profit-taking.

Cable's impressive rally to 1.2469 yesterday suggests recent decline from September's 2-month peak at 1.2582 has made a temporary low at 1.2196 on Tuesday and range trading would be seen ahead of European open before price extends to 1.2500/10, however, overbought condition may cap price below 1.2560 today and yield correction.
Bids are noted at 1.2415-10 and more below with stops below 1.2360 while offers are tipped at 1.2500/10 with stops above 1.2530.

Although there is no economic data coming from UK today, the pound is likely to remain volatile on intra-day Brexit headlines, so be nimble and be quick.

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AceTraderFx Oct 14: Intra-Day News and Views & data to be released today - GBP/USD

Intra-Day Market Moving News and Views
Update Time: 14 Oct 2019 04:30GMT

GBP/USD - 1.2592... The British pound remains on the back foot in Asian trading after Friday's volatile session. Cable traded with a firm bias and rose to 1.2506 in European morning and despite a brief but sharp fall to 1.2409 on initial comments from EU's Tusk, the pair later rallied to a 3-month high at 1.2708 in New York morning due to constructive Brexit talks between UK's Barclay and EU's Barnier before retreating to 1.2591 today.

Despite cable's rally above September's high at 1.2582 to 1.2708, subsequent retreat suggests recent upmove from 2019 34-month trough at 1.1959 (Sep) has made a temporary top, as long as 1.2582 holds, another rise would be seen after consolidation, however, reckon 1.2755/63 would remain intact.
Bids are noted at 1.2590-85 with stops below 1.2575 while offers are tipped at 1.2640/45 with more above with stops reported above 1.2735/40.

Although there is no economic data coming from UK today, we have Bank of England Deputy Governor Jon Cunliffe due to speak at 12:10 GMT on the outlook for monetary policy at the Society of Professional Economists annual conference.

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

Intra-Day Market Moving News and Views
Update Time: 15 Oct 2019 04:30GMT

GBP/USD - 1.2610... The British pound went through a roller-coaster ride on Monday on Brexit headlines. Although cable fell from 1.2645 in New Zealand to 1.2517 in European afternoon on weekend report that EU said more work needed for Brexit, price rallied to 1.2650 on cross-buying in sterling before retreating to 1.2536, however, the pair then staged a strong rebound to 1.2637 in Australia today on renewed Brexit optimism and then traded broadly sideways.

Yesterday's rally from 1.2517 to 1.2650 suggests pullback from Friday's 3-1/2 month high at 1.2708 has possibly ended and consolidation is in store before prospect of another rise, above 1.2708 would extend upmove from Sep's 34-month trough at 1.1959 to 1.2750/60. Bids are noted at 1.2575-65 with more below with stops below 1.2520 while offers are tipped at 1.2680/90 with stops above there.

On the economic calendar, UK will release claimant count, ILO unemployment rate, employment change, and average weekly earnings. Also, we have some Bank of England's officials, including Governor Mark Carney, due to speak later, please refer to our EI page for more details.

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