AceTraderFx Apr 24: Intra-Day Market Moving News and Views USD/JPY, NZD/USD

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

24 Apr 2014 02:14GMT

NZD/USD - 0.8630 ... New Zealand's central bank raised its benchmark cash rate by 25 basis points to 3.00 percent earlier today, as widely expected.

RBNZ said there would be further increases to keep on top of inflation pressures in the strongly-growing economy.

New Zealand dollar strengthened to as high as 0.8638 after hawkish statement by Reserve Bank Governor Graeme Wheeler.

24 Apr 2014 01:57GMT

USD/JPY - 102.45
... Although the greenback has staged a rebound to 102.57 in Australian morning today after yesterday's cross-inspired retreat from 102.69 to 102.17 (Europe), renewed selling below 102.55/60 capped dlr's upside n more offers are tipped at 102.65/70 with stops only seen above 102.75.
Nikkei-225 index pared some of early losses n currently dropped by 16 points to 14530.

Trading is likely to be thin today as investors are waiting for Friday's release of Tokyo CPI data, the first reading after the sales tax increase.
Besides, BOJ board members will set policy on April 30, when they will release their latest forecasts on inflation and economic growth.

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AceTraderFx May 1: Intra-Day Market Moving News and Views USD/JPY, AUS/USD

Intra-Day Market Moving News and Views

01 May 2014

USD/JPY - 102.19 ... Despite yesterday's sharp fall from 102.67 to 102.03 in NY, dlr staged a brief bounce to 102.30 in Tokyo morning due to the rise in Nikkei following the strength in global equities, however, renewed selling there capped dlr's upside n price retreated as Nikkei-225 index pared most of early gains. Trading is expected to be thin in Asia as Chinese players are absent today due to Labour Day holiday.

Some offers are tipped at 102.30-40 n more at 102.60/65 with stops only seen above 102.80. On the downside, mixture of bids n stops at 102.00 is in focus. More stops are located below 101.90 n 101.80.

01 May 2014 01:32GMT

AUD/USD - 0.9297 ... Australian dollar maintained a firm undertone after the release of higher-than-expected Australia's import and export prices which rose by 3.2% n 3.6% in Q1 versus economists' forecast of 1.8% n 1.5% respectively.

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Acetraderfx May 7: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views

06 May 2014 23:54GMT

USD/JPY - 101.71
Bank of Japan April 7-8 minutes stated that "most members agreed BOJ should continue with QE as long as necessary to meet 2% price target; one member said BOJ's easing should be restricted to about 2 years; one member said speculation about protracted QE could lead to economic instability in the medium to long term; one member said corprate profits, employment and income are improving significantly.
Members agreed that consumer spending is resilient, even though there are some fluctuations due to sale tax hike; one member said front-loaded demand before sales tax hike in April was greater than last sales tax hike in 1997; one member said consumer confidence could pick up if exports increase and companies bring forward CAPEX plans; many members said price gains are seen across a wide range of items and not just energy-related goods; one member expressed concern that foreign exchange moves are having more influence on consumer prices; one member said inflation could quicken from April as firms use sales tax hike as opportunity to pass on rising costs."

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AceTraderFx May 8: Intra-Day Market Moving News and Views USD/JPY AUD/USD

Intra-Day Market Moving News and Views

08 May 2014 01:50GMT

USD/JPY - 101.82 ... Despite dlr's brief drop below Tuesday's low at 101.50 to 101.43 yesterday, the greenback ratcheted higher to a session high of 102.01 in NY after Federal Reserve Chair Janet Yellen indicated continued central bank support for the U.S. economy.
Price later retreated briefly to 101.58 on profit-taking before rising again to 101.96 in Asian morning today.
Bids are now located at 101.70 and 101.60 whilst some offers are tipped at 102.00 with stops only seen above 102.20.

Yellen said the U.S. economy was still in need of support from the central bank given the "considerable slack" in the labor market. She also cited the housing sector and geopolitical tensions as issues of concern.

08 May 2014 01:36GMT

AUD/USD - 0.9355 ... The Australian dollar jumped to 0.9362 after the release of better-than-expected Australian jobs report. Australia's employment change was 14,200 in April versus economists' forecast of 8,800 together with upwardly revised reading of 21,900 from 18,100 in March. Australian unemployment rate came in at 5.8% versus the expectation of 5.9%.

acetraderfx Representative
AceTraderFx May 9: Intra-Day Market Moving News and Views USD/JPY AUD/USD

Intra-Day Market Moving News and Views

09 May 2014 01:45GMT

USD/JPY - 101.67.. The greenback pares Thur's loss in quiet Asian trading as intra-day rebound in the Nikkei (currently up by 130 points at 14163) has prompted minor broad-based selling in the yen vs usd & eur.

Despite o/n cross-inspired decline to 101.47 in NY session, bids abv Wed's 3-week low contained dlr's weakness n traders cited minor short-covering in Australian morning, suggesting choppy sideways trading with mild upside bias is in store, however, offers reported at 101.90/00 are likely to check intra-day rebound, so whilst trading on both sides of the market for intra-day trade is okay, day traders shud sell the greenback on recovery.

09 May 2014 01:40GMT
AUD/USD - 0.9357.. The RBA just released its quarterly monetary statements Reuters reported:

RBA on Fri said record low interest rates are likely to be needed for some time yet as there should be spare capacity in the economy for the next couple of years.

In a 68-page report, RBA highlighted several key headwinds surrounding its outlook including a likely sharp decline in mining investment n a tightening in fiscal conditions. The net result was to give the impression that rates could stay low for a very long time to come.

"The Board's view is that the current accommodative monetary policy setting is likely to be appropriate for some time yet," the RBA said.

The RBA did note that the cash rate, at a record low 2.5%, was imparting a substantial degree of stimulus that should help support the economy.

The RBA played down a surprisingly mute first quarter inflation reading saying the data appeared to have "overstated any change in inflationary pressures." "It is likely that the past two quarters of inflation data have reflected an element of statistical noise," the RBA said. The central bank noted the path of the exchange rate was also a "significant source of uncertainty" for predicting growth and inflation, but suggested it should weaken over time.

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

Intra-Day Market Moving News and Views

12 May 2014 01:47GMT

USD/JPY - 101.97
The greenback ratcheted higher to 102.05 against the Japanese yen in Asia today due to initial gain in Nikkei-225 index, following the rise in U.S. stock markets last Friday, however, investors may buy Japanese yen again due to an escalation in East-West tensions after pro-Moscow rebels declared victory in a referendum on self-rule in eastern Ukraine. Some offers are tipped at 102.20, 102.50 and 103.00 whilst some bids are located at 101.50 and 101.00.

Organisers of the weekend referendum said nearly 90 percent had voted in favour, possibly opening the way for the region to break away from Kiev in a conflict increasingly out of control.

12 May 2014 01:34GMT

AUD/USD - 0.9356
Australian April business confidence index rises to 6 versus 4 in March. The Australian dollar bounces briefly from 0.9349 after the data.

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AceTraderFx Jun 4: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views

04 Jul 2014

USD/JPY - ... Japan's giant public pension fund (GPIF) enjoyed another strong financial year as domestic stocks rose, but its performance was marred by a pullback in the January-March quarter - just as the fund was cautiously beginning to seek better returns on its equity investments.

The $1.24 trillion Government Pension Investment Fund, the world's largest, generated an 8.6 percent return in the year through March, its third-best ever, helped by a weaker yen and a 47 percent jump in Japanese equities, the fund reported on Friday.

GPIF posted a loss of 0.8 percent, however, in the final three months, its first loss in seven quarters, as the Nikkei stock average slipped 9 percent.

Japan had appointed Hosomizo as new chief financial regulators.

Earlier today, the greenback rallied to as high as 102.27 y'day due to the release of much stronger-than-expected U.S. non-farm payrolls data which came in at 288,000 versus economists' forecast of 213,000. The U.S. unemployment rate also fell to 6.1% in June from previous reading of 6.3% in May, however, profit-taking in Asian morning capped dlr's upside somewhat. Offers are now tipped at 102.20/25 n more at 102.30 with stops building up abv 102.35 res. On the downside, bids are located at 102.10-00 n more at 101.90-80.

Nikkei-225 index currently rose by 97 points to 15445 following the rally in U.S. stock markets (Dow Jones index rose by 92 points to a record close at 17068. Trading is likely to be thin today as there is no major economic data coming out due to U.S. Independence Day Holiday.

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AceTraderfx Jul 8: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views USD/JPY

08 Jul 2014

USD/JPY - BoJ Nakaso on his speech said & quote:

"Japan's economy has continued to recover moderately as virtuous cycle among production, income, and expenditure has kept growth momentum intact."
"Exports will probably start to pick up gradually if not dramatically as global economy recovers."

Dlr edges higher to 101.85 after his statements, having touched a low of 101.69 in Tokyo morning session.

Earlier quoting comments by BoJ Deputy Governor Nakaso who was speaking in Tokyo to a joint luncheon of the American Chamber of Commerce in Japan (ACCJ), European Business Council in Japan (EBC), and Swiss Chamber of Commerce and Industry in Japan (SCCIJ):

- we intend to achieve the price stability target of 2 percent at the earliest possible time by steadily pursuing qqe
- under qqe Japan appears to finally have embarked on path toward overcoming deflation
- strongly hope that the government will continue to implement the growth strategy unwaveringly
- with supply capacity constraints having surfaced, now is a golden opportunity to address Japan's longstanding challenge of raising growth potential
- BOJ already has an extensive range of operational instruments to exit from qqe
- past BOJ monetary policy lacked strong enough commitment to price stability
- exit policies should be designed depending on prevailing economic and inflation situation at the time
- premature to discuss the specifics of an exit from qqe at this stage
- BOJ has no intention of going beyond its mandate of achieving its price target, has no intention to monetise govt debt
- BOJ's current commitment to achieve 2 pct in two year horizon does not mean boj will end qqe in two years
- BOJ is committed to continuing with qqe as long as necessary
- BOJ will adjust policy without hesitation if judged necessary for achieving its price target
- CPI growth likely to slow temporarily especially through the summer but is likely to accelerate thereafter
- qqe raises inflation expectations, which provides room for further easing as this helps lower real interest rates
- U.S., UK and Euro area economies are on recovery trend but their output gaps remain negative
- Japan's economy has continued to recover moderately as virtuous cycle among production, income, and expenditure has kept growth momentum intact

acetraderfx Representative
AceTraderFx Jul 28: Intra-Day Market Moving News,Views & data to be released today

Intra-Day Market Moving New and Views USD/JPY

28 Jul 2014

USD/JPY - .... The greenback continues to trade with a soft bias in Tokyo this morning after cross-inspired retreat from Friday's 2-week peak at 101.94 to 101.72 in NY as weekend's events in Russia-Ukraine n Middle East boosted yen demand at Tokyo open (eur/yen weakened 1 tick below Fri's 136.65 low).

Expect range trading to continue in Asia until European open, however, as the N225 index has shrugged off initial loss after Fri's decline in the Dow n has climbed to a fresh 6-month peak of 15.556, suggesting buying on dips is favoured. Later today, investors should pay attention to the release of Markit service PMI for U.S. n U.S. pending home sales data due at 13:45GMT n 14:00GMT respectively.

At the moment, offers are noted at 101.90-00 n around 102.10 with stops emerging abv 102.30. On the downside, bids are placed at 101.50-40 n then 101.30/25 with stops located below 101.20.

Next week will see the release of U.S. Markit Services PMI Flash, pending Homes Index and pending sales change on Monday; Japan’s unemployment rate and retail sales, Australian HIA home sales, Germany import prices, U.S.

Redbook and consumer confidence on Tuesday.

Japan’s industrial output, industrial production forecast, Swiss KOF indicator, Eurozone business climate, economic and services sentiment, Germany’s CPI and HICP, U.S. ADP employment, Canada’s producer prices, U.S. GDP and FOMC rate decision on Wednesday.

U.K. GfK consumer confidence, Australia’s building approvals and private home approval, Japan’s housing start and construction orders, Germany’s unemployment rate, Canada’s GDP and U.S. Challenger layoffs and Chicago PMI on Thursday.

China’s NBS manufacturing PMI, Australia’s PPI, Japan’s manufacturing PMI, China HSBC manufacturing PMI final, U.S. unemployment rate, Markit/CIPS manufacturing PMI, unemployment rate, PCE price index, private payrolls and non-farm payrolls, University of Michigan consumer confidence and ISM manufacturing PMI on Friday.

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

Intra-Day Market Moving New and Views USD/JPY

29 Jul 2014

Statement from BoJ's broad member Koji Ishida, quote:
'Japan's economy continues to recover moderately;
exports continue to move sideways, lacking momentum;
structural factors, such as shift of Japan firms' production overseas, may be partly behind soft exports;
capex expected to increase moderately as a trend;
next month's Q2 GDP data likely to show negative growth but economy's positive momentum seen intact;
effect of April sales tax hike likely to subside gradually;
labour market conditions likely hold key to whether household spending will remain firm;
want to scrutinise whether companies increasingly translate costs to consumers through higher prices;
environment surrounding exports to gradually improve as global growth pick up, tough uncertainty remains;
QQE exerting intended effects on markets, Japan's 10-year JGB yield remains at very low levels;
inappropriate to judge if BoJ's target by looking at core CPI alone, must take into account other data too to guage overall price trend.'

Data to be released on Tuesday:

Japan unemployment rate, retail sales, Australia HIA home sales, Germany import prices, U.S. Redbook retail sales and consumer confidence.
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