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

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

Intra-Day Market Moving News and Views
23 Oct 2014 01:26GMT

USD/JPY - ...... Dlr pares Wed's gain in early Tokyo trading as intra-day retreat in the Nikkei (currently down 102 points at 15093 after yesterday's 2.5% rally) has led to intra-day renewed buying in yen.

Although the pair climbed in NY morning after U.S. CPI ticked higher and touched session high of 107.38, offers at Monday's 107.39 top checked intra-day gain and price edged lower near NY close.
Looks like range trading would continue in Asia, unless the Nikkei falls sharply, re-test of 107.28/39 is on the card.
Bids are noted at 107.00 and more below would stops below 106.80-75.
On the upside, offers are tipped at 107.45/50 with stops above there, however, more selling interest is reported at 107.80/00 area.

Thursday will see the release of New Zealand CPI, Japan manufacturing PMI, China HSBC manufacturing PMI, France business climate, manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, EU manufacturing PMI, services PMI, Italy trade balance, UK retail sales, CBI trends, U.S. home price index, jobless claims, manufacturing PMI, leading index and consumer confidence.

 

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AceTraderFx Oct 24: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

24 Oct 2014 01:49GMT

USD/JPY - ..... Just when the market gave a green light to buy the dlr/sell the yen on Thursday after yesterday's upbeat data in the euro zone (PMIs) and the U.S. (falling jobless claims, rising leading indicators), news on the 1st diagnosed case of Ebola in New York knocked the wind off the USD, knocking the pair briefly to 107.87 in Tokyo as the news triggered a bout of yen buying on risk aversion.
Nikkei pared initial gain after the N225 futures rallied 300 points (Nikkei spot index is currently up 142 points at 15280) & S&P futures are trading in negative territory.

Unless the Nikkei heads higher again later in the day once current Ebola scare subsides, range trading with downside bias is seen.
For now, offers are tipped at 108.10/20 and more above with stops above yesterday's NY high at 108.36.
Initial bids are noted at 107.85-80 and more below with stops touted below 107.40-35.

Japan's FinMin Taro Aso talked about the importance to proceed with sales tax plan as scheduled to maintain trust in JGB market.
Aso continued to say that the MoF will continue to communicate with markets to make sure discount bills and JGBs are auctioned smoothly.

Last night the greenback maintained a firm undertone due to renewed risk aversion as Dow Jones index rallied by more than 225 points or 1.37% to 16654. Besides, U.S. 2-year treasuries note yield climbs near 0.4%, highest in more than a week.
Bids were located at 108.10-05 n more at 107.90-80.
On the upside, some offers were tipped at 108.40-45 with mixture of stops n offers is seen at 108.50.

Friday will see the release of New Zealand trade balance, imports, exports, China house prices, Germany consumer sentiment, Italy retail sales, UK GDP and U.S. new home sales.

 

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AceTraderFx Oct 27: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

27 Oct 2014 02:00GMT

USD/JPY - ....... Although dlr 'gapped-up' higher to a fresh 2-week peak at 108.37 in Australia after Reuters reported Sun a Yomiuri poll showed public approval for Japan PM Abe's government has slumped, lack of follow-through buying n continued concerns over the Ebola case in NY prompted profit-taking. Dlr later retreated to 107.93 in Tokyo morning.

Today, dlr's retreat from 108.37 suggests initial consolidation with mild downside bias would be seen ahead European open but as long as 107.79 (Fri's low in NY) holds, outlook remains mildly bullish for marginal gain after consolidation n therefore, buying dlr on dips is the favoured strategy. Bids are noted at 108.00-107.90 with mixture of bids n stops at 107.80/75 n further out at 107.50/45. On the upside, offers are placed at 108.30-40 n then 108.50 with stops emerging just above 108.80.

The coming week will see the release of German Ifo business climate, U.K. CBI distributive trades, U.S. Markit services PMI flash, pending sales change and revised building permits change on Monday.

Japan's retail sales, German import index, U.S. durable goods, Redbook, CaseShiller house price, consumer confidence on Tuesday.

Japan's industrial output, New Zealand ANZ bussiness outlook, U.K. mortgage approval and mortgage lending, Canada's producer prices, FOMC rate decision and Fed's monetary policy statement on Wednesday.

RBNZ rate decision, Australia's HIA new home sales, import and export prices, U.K. Nationwide house prices, Swiss KOF indicator, German unemployment rate, EU business climate, economic sentiment and final consumer confidence, U.S. jobless claims, GDP in Q3 and core PCE, German CPI and HICP on Thursday.

Japan's all household spending, CPI and unemployment, GfK consumer confidence, Australia's PPI, Bank of Japan monetary statement, construction orders, housing starts, BOJ press conference, BOJ outlook report, EU inflation and unemployment, U.S. PCE price index, personal real consumption and income, core PCE price index, Canada's GDP and U.S. University of Michigan sentiment on Friday.

 

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AceTraderFx Oct 28: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

28 Oct 2014 01:08GMT

USD/JPY - ...... Statement from BoJ Governor Kuroda, quote:

'-Japan's economy is showing some weakness mainly in output but positive cycle remain intact
-job, income conditions improving steadily
-private consumption solid as a trend with non-durable goods sales emerging from sales tax hike pain
-Tankan shows many firms expect effect of sales tax hike to be temporary
-Japan's economy likely to continue moderate recovery with effect of tax hike seen easing
-consumer inflation slowing somewhat due to recent energy price falls but likely to hover around 1-1.5 pct for time being
-QQE exerting intended effects, japan on steady path toward meeting boj's price target
-Japan only half way in meeting boj's price target
-won't hesitate to adjust policy should risks threaten achievement of boj's price target
-negative yields seen in boj's short-term bill auctions are sign of how powerful effect of boj's monetary easing is
-BOJ is not trying to guide yields to negative territory, it is only consequence of its stimulus policy
-yen weakness so far has been positive for Japan's economy '

Tuesday will see the release of Japan's retail sales, German import index, U.S. durable goods, Redbook, CaseShiller house price and consumer confidence.

 

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AceTraderFx Oct 29: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

29 Oct 2014 02:08GMT

USD/JPY...... Despite dlr's volatile trading in Tuesday's NY session after release of mixed U.S. eco data, price rebounded after meeting renewed buying at 107.70 and traded firmly against the yen in NY afternoon.
Dlr rose above European high of 108.17 to a fresh intra-day high of 108.19 near NY close and then marginally higher to 108.23 in Tokyo morning on the rally in Nikkei index (currently up 1.36% to 15538).

Although cross-selling in yen on improved risk appetite after yesterday's rally in global stocks suggests buying on dips is recommended, sharp gain above Monday's 2-week peak at 108.37 is not envisaged as market participants are reluctant to enter large position ahead of the release of FOMC statement later in NY afternoon today.
The Fed is widely expected to announce the end of its bond-buying program today, though uncertainty as to whether or not the statement will contain dovish or hawkish language surrounding interest rates. As no press conference is scheduled, market won't hear any comments from Fed Chair Janet Yellen.

At present, bids are noted at 108.00-107.90 and around 107.80 with mixture of bids and stops emerging below 107.60.
On the upside, offers are placed at 108.30-40 and then 108.50 with stops located just above 108.70, however, heavy selling interest from various accounts is touted in the 108.90-109.10 region.

News from WSJ about today's Fed's monetary policy announcement, the newspaper reported that Federal Reserve officials meeting Tuesday and Wednesday are virtually certain to end their latest bond-buying program, but they won't be retiring the policy for good.

Their recent comments show bond purchases are now an established part of the Fed's policy tool kit that they could employ again in times of deep economic trouble.

Several Fed policy makers said they think the latest round of Treasury n mortgage-bond purchases, begun in late 2012, helped lower long-term interest rates, boosting hiring and growth. But they also see a high bar to launching more bond buying (QE) seeing it as a last resort to use only if very low interest rates n communications efforts were to fail to reverse a sharply worsening economic outlook.

Fed Chairwoman Janet Yellen has said she wouldn't rule out more bond buying if needed, and Fed Vice Chairman Stanley Fischer deemed the program 'largely successful.'

Many investors expect the Fed to start raising its benchmark short-term rate from near zero in the middle of next year, a view some top officials have encouraged.

Wednesday will see the release of Japan's industrial output, New Zealand ANZ business outlook, U.K. mortgage approval and mortgage lending, Canada's producer prices, FOMC rate decision and Fed's monetary policy statement.

 

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AceTraderFx Oct 30: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

30 Oct 2014 02:13GMT

USD/JPY - .....statement from PM Abe this morning:
"need to flexibly review composition of GPIF's pension fund management reflecting end to deflation;
won't use pension fund management directly to boost stock prices, but change in allocation will indirectly help Japan's economy.
whether Japan can return growth path in Jul-Sep quarter will be key on if proceed with next sales tax hike to 10%;
it's true sales tax hike weakens consumers' purchasing power, must scrutinise how it effects prospects for ending deflation;
economic growth is continuing as a whole;
want to look at various data for Jul-Sep in deciding if to compile extra budget to stimulate economy."

Thursday will see the release of RBNZ rate decision, Australia's HIA new home sales, import and export prices, U.K. Nationwide house prices, Swiss KOF indicator, German unemployment rate, EU business climate, economic sentiment and final consumer confidence, U.S. jobless claims, GDP in Q3 and core PCE, German CPI and HICP.

 

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AceTraderFx Oct 30: More updates on Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views

30 Oct 2014 03:27GMT

USD/JPY - ...... Although the Dow staged a recovery on Wednesday after the FOMC announcement n ended the day down 31 points, the Nikkei rose to a 2-week high of 15666 in Tokyo trading. Some attributed to today's gain on Bloomberg report.

Japan's $1.2 tin pension fund will double its allocation target for local stocks, according to analysts, who've ratcheted up expectations for equity buying while sticking with projections for a reduction in bonds.

The GPIF will increase its domestic equity allocation to 24% of assets fm 12%, according to the median estimate of 12 fund managers. That's up fm 20% in a similar survey in May.
The Topix index soared 4% on Oct. 20 on a Nikkei newspaper report that the fund would set a 25% local-share target.

The Government Pension Investment Fund will increase its domestic equity allocation to 24 percent of assets from 12 percent, according to the median estimate of 12 fund managers


The greenback rallied to 108.96 in NY after upbeat FOMC statements judged the U.S. economy strong enough to end its 6-year long asset-purchase program by end of Oct.
Price ratcheted higher after meeting renewed buying interest at 108.75 in Australia n rose abv 109.00 level to a fresh 3-1/2 week high at 109.12 in Tokyo morning after comments fm Japan PM Abe (see our prev. report).

As dlr has maintained a firm undertone in Tokyo morning, suggesting buying dlr on dips in Asia is the way to go.
However, investors shud pay close attention to U.S. weekly jobless claims n advance Q3 GDP in NY morning as the readings may paint a mixed picture to recent U.S. economy n we may well see another volatile session in NY.

Bids are noted at 108.80-70 n around 108.50 with mixture of bids n stops noted further out at 108.30/25.
On the upside, cross-selling interest are placed at 109.20-30 with offers fm various accounts at 109.50-60 n then 109.75/80.

 

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AceTraderFx Oct 31: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
31 Oct 2014 00:08GMT

USD/JPY - .......Latest news: 'Japan government to approve GPIF reallocation on Friday, raising Japan equity target to 25% from the current target of 12%, two government sources said.'

Japan's economy minister Amari said that :
"Abe's cabinet is ready to take steps as needed, when asked about chance of compiling stimulus measures;
will consult with Abe whether stimulus package is needed, after scrutinising Jul-Sep data;
no decision yet on whether to complete stimulus package, also on size of any package."

Last night U.S. dollar rose to a fresh 3-1/2 week high of 109.36 versus the Japanese yen on renewed risk appetites due to the rally in Nikkei-225 index futures n U.S. stock markets.
Dow Jones index now rose by 221 point or 1.3% to 17196. Bids was located at 109.20-10 and more at 109.00. On the upside, some offers were tipped at 109.40 and 109.60.


Friday will see the release of Japan's all household spending, CPI and unemployment, GfK consumer confidence, Australia's PPI, Bank of Japan monetary statement, construction orders, housing starts, BOJ press conference, BOJ outlook report, EU inflation and unemployment, U.S. PCE price index, personal real consumption and income, core PCE price index, Canada's GDP and U.S. University of Michigan sentiment.

 

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AceTraderFx Nov 3: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

03 Nov 2014 02:39GMT

USD/JPY - ...... Dlr pares initial gain after rising to a fresh near 7-year peak of 113.00/01. The euphoria of broad-based yen-selling continued at Monday's open after Friday's close near the day's high of 112.48 together with the closing of the Dow & S&P 500 at their records highs (Nikkei futures were up 495 points on Fri) boosted risk sentiment even though markets are closed in Japan for Culture Day holiday.

Although dlr opened near said Friday's NY close in NZ, st specs sold the yen broadly, sending dlr to 113.00/01 in Australia, however, price eased to 112.65 on lack of follow-through buying.
Initial bids are reported at 112.50-40 with stops below there, however, more buying interest is noted above 112.00.
On the upside, offers are touted at 112.90/00 with some stops above there. As the w/end release of downbeat China official mfg PMI plus today's release of weaker-than-expected China official non-mfg PMI have not tempered risk sentiment in the yen, buy dlr on dips is the way to go.


The coming week will see the release of following economic data:

Australian building approvals, China NBS non-manufacturing PMI n HSBC manufacturing PMI, German and EU Markit manufacturing PMI, U.K. Markit manufacturing PMI, U.S Markit manufacturing PMI, construction spending, ISM manufacturing employment index and manufacturing PMI on Monday;

Australia's trade balance and retail sales, RBA interest rate decision and statement, U.K. Halifax house price, Markit construction PMI, EU producer prices, U.S. international trade, Canada's exports, imports and trade balance, U.S. Redbook, ISM New York index, factory orders, durable goods on Tuesday;

New Zealand's HLFS unemployment rate, job growth and labour cost index, China's HSBC services PMI, Swiss CPI, German Markit services PMI, U.K. Markit services PMI, eurozone retail sales, U.S. ADP National employment, Markit services PMI, ISM non-manufacturing PMI and employment index on Wednesday;

Australia's unemployment rate and employment change, Japan's leading indicator, Swiss consumer confidence, Germany's industrial orders, U.K. industrial output and manufacturing output, BOE interest rate decision, ECB rate decision, Canada's building permits, U.S. labor costs and productivity and Canada's Ivey PMI on Thursday;

Swiss unemployment rate, Germany's imports, exports and trade balance, Swiss retail sales, U.K. goods trade balance and average earnings, Canada's unemployment and employment change, U.S. non-farm payrolls, unemployment rate, private payrolls, government payrolls and consumer credit on Friday.

 

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

Intra-Day Market Moving News and Views

10 Nov 2014 01:05GMT

USD/JPY - 114.38.. Dlr opened in NZ around where it left off in NY Friday (around 114.62), however, renewed usd's broad-based weakness following a weak closing Friday pressured price in NZ/AUS, the pair fell 1-tick below Friday's 114.26 low at Tokyo open but lack of follow-through selling quickly lifted price.

Despite the Dow & S&P 500 indices touching record closing highs for the 3rd day in a row, intra-day weakness in the Nikkei (currently down 121 points at 16759) as well as falling U.S. treasury yields suggests dlr may well have formed a temporary high at Friday's fresh 7-year peak at 115.62.
Offers are tipped at 114.60/65 n more above with stops touted above 115.00.
On the downside, initial bids are noted at 114.25-20 and more below at 114.10-00 with stops reported below there, suggesting consolidation with downside bias is in store.

Reuters reported citing source from the Japan's Yomiuri newspaper Japan's PM Shinzo Abe is considering dissolving the lower house of parliament and calling a snap election if he decides to delay a plan to raise the sales tax next year.
If Abe does dissolve the lower house, an election could be held on Dec. 14 or Dec. 21, the Yomiuri reported on Sunday citing several government and ruling party sources.
Abe has also told members of his party's coalition partner of this plan, the Yomiuri said. In a TV interview on Fri, Abe said he was not thinking of calling an early election, but then he hedged his bets by saying this is something a prime minister always has to say.
Abe has to decide by year's end whether to go through with a plan to raise the sales tax to 10 percent from 8 percent in October 2015.
Abe could delay this plan by a year and a half if 3rd quarter GDP, which is due on Nov. 17, struggles to accelerate, the Yomiuri said.
If Abe does delay the tax hike he would call an election to ask the public to judge his economic policies, the Yomiuri said.


Data to be released this week:

Australia housing finance, China CPI, PPI, Italy industrial output, EU sentix index and Canada housing starts on Monday.

Japan trade balance, current account, tertiary industry index, Australia home price index, NAB business confidence, France market holiday, Canada market holiday and U.S. market holiday on Tuesday.

Australia Wage price index, UK average earnings, claimant count, ILO unemployment, BoE inflation report, EU industrial production, U.S. redbook retail sales, wholesale inventories and wholesale sales on Wednesday.

Japan CGPI, machinery orders, industrial output, capacity utilization, China industrial output, retail sales, Germany CPI, HICP, Swiss PPI, Italy CPI, Canada housing price index, U.S. jobless claims and Federal budget on Thursday.

France GDP, Germany GDP, Italy GDP, UK construction output, EU GDP, CPI, U.S. retail sales, export prices, import prices, business inventories, U. of Michigan sentiment and Canada manufacturing sales on Friday.