AceTraderFx Apr 15: Intra-Day Market Moving News and Views

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AceTraderFx Apr 30: Intra-Day Market Moving News and Views EUR/USD USD/JPY

Intra-Day Market Moving News and Views

30 Apr 2014 01:58GMT

EUR/USD - 1.3809 ... The single currency remains under pressure in Asia today after yesterday's sell off from 1.3879 to 1.3806 due to the release of 'soft' Germany's inflation data. Selling interest is seen at 1.3820-30 n more at 1.3840-50. On the downside, some stops are reported below 1.3800, 1.3790 n 1.3785.

Further sideways trading is expected until European open as market players are awaiting the release of German retail sales data at 06:00GMT. Germany and euro zone will release its unemployment rate at 07:00GMT n estimated CPI at 09:00GMT respectively.

30 Apr 2014 01:44GMT
USD/JPY - 102.50 ... Despite initial firmness to 102.66 at Tokyo open on improved risk appetite due to the rise in Nikkei, following the rally in global stock markets on Tuesday. Selling interest below yesterday's high at 102.79 capped dlr's upside. The pair retreated to 102.48 in Asian morning, however, trading is relatively thin as investors are waiting for the BOJ rate decision, to be released at around 3:00-3:30GMT.

Some market players are expecting the BOJ to deliver further "Quantitative and Qualitative Monetary Easing" (QQE) on Wednesday, in the form of a further 10 trillion yen increase in the monetary base, biased towards riskier assets.

Besides, BOJ Governor Kuroda is due to hold a post-meeting news conference at 06:30GMT.

Orders book shows some offers are tipped at 102.70 with stops seen above 102.80 but mixture of offers n stops is tipped at 102.95/00. On the downside, some bids are located at 102.30/35 n 102.05/10 with stops seen below 102.00 n 101.90

 

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AceTraderFX May 28: Intra-Day Market Moving News,Views and data to be released today

Intra-Day Market Moving News and Views


28 May 2014 01:13GMT

USD/MAJ
Fed's Lockhart says:
Labor market tightening in certain industries and regions, points to skilled trades in places like Louisiana's oil sector;
Some aspects of labor market may be approaching full employment, others remain very weak;
No strong preference whether taper ends in October or December;
Important to global system that U.S. follow all BASEL requirements;
Fed still in early days of testing new tools for controlling future interest rates;
Inflation above 2 percent should not be ruled out, says a measured overshoot is ok up to 2.5 percent;
Fed should continue reinvesting bond proceeds until it begins to raise rates.
"considers long-term neutral Fed funds rate at around 4%; does not believe economy will be weak over the long run; does not believe there is a skills mismatch between jobs and job-seekers, feels stronger growth will absorb labor slack."

Economy should rebound to near 3 percent growth in Q2 after poor start;
Despite optimism, Fed still needs patience, "confirming evidence" of sustainable growth before lifting interest rates;
No rush to raise rates, sees no increase until second half of 2015;
Transition to rate increases will need careful execution and clear communication;
Labor market still slack and well short of full employment;
Improvement in labor outlook will be steady but not "dramatic";
Inflation will increase to the Fed's target only over the medium term.

Data to be released on Wednesday:

Australia Westpac leading index, China industrial profits YTD, Switzerland GDP, Germany import price index, unemployment rate, unemployment change, France PPI, Italy business confidence, economic conference, euro zone economic conference, industrial conference, consumer conference, service conference, business climate indicator and U.K. CBI reported sales.

 

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AceTraderFx May 29: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

29 May 2014 01:32GMT

USD/JPY - 101.70

New on BOJ's Shirai speech:
Positive cycle of output, income, expenditure likely to continue in Japan;
Downside risks subsiding somewhat but still need to be mindful of them;
Japan prices likely to gradually rise around 4Q 2014;
Will take some time for medium-, long-term inflation expectations of households to rise as a trend;
Downside risks on Japan price outlook subsiding somewhat, but still need monitoring;
Must scrutinise economy, price moves after second sales tax hike to see whether 2 pct inflation will be sustained stably;
My economy, price forecasts are made on assumption QQE will be maintained beyond 2015;
Feel Japan will need more than 2 years to achieve 2 pct inflation under current flexible inflation targeting;
Expectations of households to rise as a trend.


00:51GMT
Chinese Premier Li Keqiang says will adopt timely and moderate "fine tuning" of economic policy;
fundamental fiscal and monetary policy will remain intact.


Data to be released on Thursday :

Japan retail sales, Australia HIA new home sales, private capital expenditure, China leading index, Canada current account balance, U.S. GDP, personal consumption, core PCE, initial jobless claims, pending home sales.

 

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AceTraderFx May 30: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

30 May 2014 01:55GMT

USD/JPY - 101.62

Early release of Japan's economic data showed that Japan's inflation accelerated in April to a 23-year high while industrial output and household spending fell after a sales-tax increase. Consumer prices excluding fresh food rose 3.2% y/y in April after a 1.3% increase in March.

A piece of news worth mentioning, Board member Sayuri Shirai said on Thursday the BOJ's unprecedented easing could last beyond next year and downplayed the bank's optimism that inflation would reach its target in fiscal 2015.

The greenback fell to 101.43 on Thursday due to cross buying in Japanese yen, however, short-covering lifted price to 101.79 in Australian morning b4 easing. Some bids are located at 101.55-50 with stops building up below 101.40 n 101.35. On the upside, some offers are tipped at 101.75/80 n 101.95/00.


Japan's MOF's Furusawa says that there are indications Japan's economy is entering a virtuous cycle; is no longer in deflationary situation.

Japan EconMin Amari says that April CPI shows the sales tax hike is being passed on effectively.

Data to be released on Friday:

New Zealand building permits, U.K. Gfk consumer confidence, Japan jobless rate, overall household spending, National CPI, Tokyo CPI, industrial production, housing starts, construction orders, China leading index, Germany retail sales, Switzerland KOF leading indicator, Italy PPI, CPI, Canada GDP, U.S. personal income, personal spending, PCE, Chicago PMI and University of Michigan confidence.

 

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AceTraderFx Jun 3: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views

03 Jun 2014 01:13GMT

USD/JPY - 102.39

BOJ governor Kuroda says various means are available if BOJ were to exit QQE; how to exit QQE, including what to do with BOJ's JGB buying, will depend on price, market developments at the time; don't see limits to options available to BOJ if it were to ease again to ensure achievement of 2% inflation target.

BOJ says key monetary official Amamiya to be reappointed as executive overseeing monetary policy department.

BOJ governor Kuroda says too early to debate specific plans on exiting BOJ's QQE policy; taking about specific exit strategy at too early a stage could create confusion in markets, as seen in overseas examples; it's true we will need to debate exit strategy when 2% inflation is achieved in stable manner, but too early to do so now.

BOJ's Kuroda says BOJ won't rule out adjusting policy if achievement of price target becomes difficult, but as of now Japan moving steadily toward meeting the target.

He then says "private consumption likely to remain firm as a trend despite impact of sales tax hike".

BOJ's Kuroda says Japan's output gap has narrowed to near zero but how demand performs remain important.

Earlier, Reuters news quoting source fm the Nikkei, Japan GPIF's asset allocation committee head says raising Japan stock weighting to 20% wouldn't be too high.

BoJ Governor Kuroda says "expect Japan consumer inflation to reach 2% around fiscal 2015"; "won't hesitate to adjuest policy if risks threaten achievement of 2% inflation target"; "hope Japan govt steadily proceeds with steps to boost Japan's growth potential".

 

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AceTraderFx Jun 4: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views USD/JPY, AUD/USD

04 Jun 2014 01:56GMT

USD/JPY - 102.61

Despite y'day's brief retreat to 102.27, the greenback ratcheted higher against the Japanese yen to 102.55 in NY n then 102.67 in Asian morning due to the selloff in U.S. Treasuries. The U.S. 10-year yield climbed to 2.6% yesterday, the highest level since May 14, due to that speculation that the Wed's release of U.S. ADP empolyment report will show the U.S. added more than 200,000 jobs for a third month.

Bids are now located at 102.40-20 n more at 102.05-00 with some stops seen below 102.00. On the upside, some offers are tipped at 102.75-85 with mixture of offers n stops seen at 103.00.

04 Jun 2014 01:34GMT

AUD/USD - 0.9285
The Australian dollar jumped to 0.9299 after the release of robust Australia's GDP data which came in at 1.1% q/q n 3.5% y/y versus economists' forecast of 0.9% q/q n 3.2% y/y respectively.

Data to be released on Wednesday:

Australia GDP, Japan Markit service PMI, Itarly Markit/ADACI service PMI, France Markit service PMI, U.K. Halifax house prices, Markit/CIPS service PMI, euro zone service PMI, producer prices, GDP (revised), U.S. ADP national employment, trade balance, productivity (revised), labor costs, ISM non-manufacturing PMI, Canada trade balance, exports, imports, BoC rate decision.