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

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AceTraderFx Dec 1: Intra-Day Market Moving News and Views(USD/JPY)


Intra-Day Market Moving News and Views

01 Dec 2014 02:02GMT
USD/JPY - 118.83 ... U.S. dollar rose to a fresh 7-year high of 119.02 against the Japanese yen on amid growing concerns over deflationary pressure in Japan due to the sell off in crude oil prices together with the release of weaker-than-expected China manufacturing PMI data.
Bids are now located at 118.70-60 and more at 118.50 whilst some offers are tipped at 119.00 and 119.20-30.

Statements from Japan Chief Cabinet Secretary Yoshihide Suga says capital spending is on rising trend on back of firm corporate earnings;
expect CAPEX will continue to rise;
will monitor FX movements.

Last Friday closing the greenback rallied to as high as 118.76 against the Japanese yen on dlr's broad-based strength together with active cross selling in yen especially versus euro.
Bids were then located at 118.50, 118.35/30 and more at 118.10-00.
On the upside, offers were tipped at 118.90/95 with stops building up above 119.00.

 

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AceTraderFx Dec 2: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

02 Dec 2014 01:53GMT
USD/JPY - ...... Although U.S. dollar rose briefly to a fresh 7-year peak of 119.15 yesterday after Moody's cut Japan's sovereign ratings, the pair a dramatic reversal due to a broad-based rebound in commodity prices and dlr weakened to 117.88 in NY before staging another rebound due to upbeat comments from Federal Reserve Vice Chairman Stanley Fischer who gave dollar bulls some confidence.

U.S. dollar ratcheted higher to 118.46 on short-covering, however, renewed selling interest is tipped below 118.50 and more offers are located at 118.70-80 with stops only seen above 119.00.
On the downside, some bids are located at 118.10-00 with stops seen below 117.88.

Japan's Deputy Chief Cabinet Secretary Katsunobu Kato says will continue to monitor JGB market n take appropriate debt management steps as needed; many market participants praise PM's commitment to not delay sales tax hike again; PM will present specific fiscal consolidation plan by summer next year.

Tuesday will see the release of Australia's Building Approvals and Current Account Deficit, RBA rate decision and statement, UK Markit/CIPS Construction PMI, eurozone Producer Prices, US Redbook and Construction Spending.

 

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

Intra-Day Market Moving News and Views
03 Dec 2014 02:01GMT

USD/JPY - 119.33 ... The greenback rallied to a fresh 7-year high at 119.44 in Tokyo morning on improved risk appetite due to the rally in global stock markets together with the release of slightly better-than-expected China's HSBC services PMI which came in at 53.0 versus previous reading of 52.9. Nikkei-225 currently rises by 199 points to 17862 following the 102 points rise in Dow Jones index on Tuesday.

Bids are now located at 119.15-10, 119.00 n more at 118.80. On the upside, some offers are tipped at 119.40-50, 119.70-80 n more at 120.00 (sizeable).

Yesterday, the NY morning despite a brief pullback fm a fresh 119.28 to 119.04, dlr had risen again n rose 1-pip higher to a fresh 7-year peak at 119.29. Although dlr maintained a firm bias after intra-day resumption of LT uptrend, as investors showed muted reaction to the release of upbeat U.S. construction spending data, suggesting sharp gain was not likely to be seen n price shud falter well below psychological res at 120.00, yield retreat later. U.S. Oct construction spending came at +1.1%, higher than expectation of 0.6% n also the highest lvl since May.

Wednesday will see the release of Australia's GDP, China's NBS Non-Mfg PMI and HSBC Services PMI, Swiss GDP, Germany's Markit Services PMI, eurozone Markit Services Final PMI, UK Markit/CIPS Serv PMI, eurozone Retail Sales, US ADP National Employment, Productivity Revised, Markit Comp Final PMI, ISM Non-Mfg PMI, Bank of Canada Rate Decision and statement, US Fed's Beige Book.

 

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AceTraderFx Dec 4: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
04 Dec 2014 01:32GMT

USD/JPY - ...... BoJ board member Takehero Sata who is speaking at a meeting with business leaders in Kochi quoting his speech by Reuters :

-efforts to restore fiscal health important when BoJ seeks o exit QQE;
-success of QQE hinges on govt's commitment to fiscal reform;
-have proposed making BoJ's price target a flexible one with room for some allowance;
-BoJ's tools to respond ltd if concern over govt's commitment heightens, raises risk premium in JGB market;
-prices reflect state of economy n are not a variable that can be controlled by a central bank;
-what's important is not to focus on monthly fluctuations of CPI but to scrutinise wide range of data in forward-looking manner;
-dissented fm Oct 31 easing as virtuous cycle of eco. activity n prices was basically intact;
-marginal effect of expanding QQE won't be large given nominal interest rates already at historically low levels;
-must watch whether BoJ's asset buying creates distortions on eco. activity or accumulation of financial imbalances;
-there is uncertainty on whether global growth will steadily heighten IMF projects;
-must be mindful of risk of Europe experiencing prolonged low inflation or slipping into deflation;
-expect Japan's economy to recover moderately as a trend as exports have stopped falling;
-risk to Japan's economy are exports, effect of weak yen on domestic demand, n outlook of household, business sentiment;
-Japan's CPI growth may stall around middle of next year given commodity price moves;
-commodity price falls positive for Japan's economy, will push up overall prices in long run.

Thursday will see the release of Australia's Retail Sales and Trade Balance, UK Halifax house prices, Swiss Industrial Orders, BOE rate decision, ECB rate decision, ECB press conference, US Initial jobless claims, Canada's Ivey PMI.

 

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AceTraderFx Dec 8: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

08 Dec 2014 00:48GMT

USD/JPY - ..... Although dlr climbed to a fresh 7-year peak of 121.85 ahead of Tloyo open on Mon, release of downbeat revision in Japan's Q3 GDP triggered buying of yen on risk aversion.

Reuters reported Japan's economic contraction in Jul-Sep was deeper than initially expected on declines in capital expenditure, according to revised data on Mon that backs PM Shinzo Abe's recent decision to delay a 2nd sales tax hike.

The data indicated that the hit fm Apr's sales tax hike turned out to be bigger than expected.

Abe, who has called a snap poll for Sun, hopes voters will agree that his stimulus policies n a decision to delay a 2nd sales tax hike next year will revive a sputtering economy.

The key factor behind the downgrade was a 0.4% decrease in capital expenditure, which was revised from a preliminary 0.2% fall after incorporating last week's upbeat corporate capital spending survey.

On Apr 1, Japan's sales tax increased to 8% fm 5%. After that hit household spending n led to Nov. 17's dismal preliminary GDP data showing the economy was in recession, Abe postponed a 2nd tax hike to 10% by 18 months until Apr 2017.

The revised GDP data could be bad news for the BoJ, which will scrutinise it n other factors at a two-day rate review that ends on Fri. The central bank, which eased policy on Oct. 31, is widely expected to keep monetary settings unchanged and maintain its upbeat view of the economy.

Economists expect Japan to resume moderate growth in the current quarter on signs corporate and household spending are gradually recovering fm the pain caused by the Apr tax hike.

This week will see the release of the following economic data:

Japan's Reuters Tankan DI, GDP, Current account, Tertiary industry index, Economy Watchers Poll, UK's BoE Quarterly Bulletin, China's Trade Balance, Imports and Exports, Germany's Industrial output, Switzerland's CPI, EU's Sentix Investment Confidence, Canada Housing starts, building permits, U.S. employment trends on Monday.

U.K.'s BRC retail sales, Australia NAB Business Confidence, NAB Business conditions, Switzerland's unemployment rate, Germany's Trade Balance, Exports, Imports, France's Budget Balance, Trade Balance, Imports, Exports, U.K.'s Industrial output, Manufacturing Output, NIESR GDP Estimate, U.S.'s NFIB Business Optimism, Redbook, Wholesale inventories, Wholesale sales on Tuesday.

New Zealand's Government Monthly Debt, Government Optg Balance, Japan's Business Survey Index, Corp Goods Price, Australia's Housing Finance, Invest Housing Finance, China's CPI, PPI, Japan's Consumer Confidence, Machine tool orders, France's non-farm payrolls, Industrial Output, U.K.'s Trade Balance, U.S. Federal Budget on Wednesday.

New Zealand's RBNZ rate decision, Japan's Machinery Orders, U.K.'s RICS Housing Survey, Australia's Employment, Unemployment rate, Germany's CPI, HICP, France's CPI, Switzerland's SNB rate decision, Italy's Industrial output, U.S.'s Export prices, Import prices, Retail sales, Initial jobless claims, Business inventories, Canada's New Housing Price Index and Capacity Utilization on Thursday.

New Zealand's Manufacturing PMI, Japan's Capacity Utilization Index Change, Industrial output, Chain's Industrial output, retail sales, France's Current account, Italy's Consumer Prices, U.K.'s Construction O/P, EU's employment, Industrial production, U.S.'s PPI and University of Michigan Sentiment Index on Friday.

 

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AceTraderFx Dec 9: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views

09 Dec 2014 02:25GMT

USD/JPY - ....... The greenback tumbled from yesterday's fresh 7-year high at 121.85 (AUS) to as low as 120.20 (NY) due to active long liquidations as Japan's Nikkei-225 index fell sharply following the decline in global stock markets.
Despite staging a brief recovery to 121.00 at Tokyo opening, selling interest there capped dlr's upside somewhat.
Offers are now tipped at 120.90-00 and more at 121.20-30.
On the downside, some bids are located at 120.50 and 120.30-20.

Earlier statement statement from Japan FinMin, quote:
'don't think Japan in recession;
to stick to aim of achieving primary budget surplus in FY2020/21 although sales tax hike delay makes it harder to meet the target;
won't comment on FX levels;
closely watching market moves.'
'there are signs that wages will continue rising, allowing economy to withstand future tax hike;
decline in oil prices is likely to offset rise in import prices due to weak yen.'

Tuesday will see the release of U.K.'s BRC retail sales, Australia NAB Business Confidence, NAB Business conditions, Switzerland's unemployment rate, Germany's Trade Balance, Exports, Imports, France's Budget Balance, Trade Balance, Imports, Exports, U.K.'s Industrial output, Manufacturing Output, NIESR GDP Estimate, U.S.'s NFIB Business Optimism, Redbook, Wholesale inventories, Wholesale sales. EU finance ministers meet in Brussels.

 

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AceTraderFx Dec 10: Intra-Day News and Views (USD/JPY AUD/USD)

Intra-Day Market Moving News and Views
10 Dec 2014 02:01GMT

USD/JPY - ....... Despite yesterday's sharp sell off from 121.00 to as low as 117.90 due to renew risk aversion on political instability in Greece together with the sell off in European equities, the greenback rebounded strongly in late NY on the rebound in U.S. stock markets.
The pair rose to 119.92 in Asian morning as Nikkei-225 index pared some of early losses.
Bids are now located at 119.70-65, 119.50 and more at 119.30.
On the upside, some offers are tipped at 120.00 and 120.10-20.
On the data front, Japan will release its consumer confidence index at 05:00GMT.

AUD/USD - ........ Australian dollar fell in Asian morning after the release of lower-than-expected China's CPI and PPI data which came in at -0.2% m/m or 1.4% y/y and -2.7% y/y versus 0.0% m/m or 1.6% y/y and -2.4% y/y respectively.

 

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

Intra-Day Market Moving News and Views
11 Dec 2014 02:35GMT

USD/JPY - ....... The greenback tumbled against the Japanese yen due to renewed risk aversion on the sell off in global stock markets. Nikkiei-225 index fell by more than 1% following Wednesday's 268 points drop in Dow Jones index. The pair weakened to as low as 117.45 in Tokyo morning before rebounding strongly to 118.33 on short-covering.

Offers are now tipped at 118.20 and more at 118.30-40.
On the downside, some bids are located at 117.70 and 117.50.

Investors are now focusing on an election sweep for Japanese Prime Minister Shinzo Abe this weekend.
Nikkei news reported this morning that Abe needs big margin of victory to retain influence, the LDP and Komeito held 326 out of 480 seats in the lower house before it was dissolved last month; following a slight trim, 475 seats will be up for grabs on December 14; LDP and Komeito leaders have set a joint goal of winning at least 270; they need 266 seats needed to guarantee majorities on all of the house? standing committees; a senior LDP election strategist reckons the party will win in 20 to 30 fewer districts than in 2012, but will pick up more seats determined by proportional representation; if Komeito manages to maintain its status quo ante of 31 seats, the coalition stands a good chance of taking 270 to 300 seats, give or take a few, says a senior LDP lawmaker.

Thursday will see the release of Japan's Machinery Orders, U.K.'s RICS Housing Survey, Australia's Employment, Unemployment rate, Germany's CPI, HICP, France's CPI, Switzerland's SNB rate decision, Italy's Industrial output, U.S.'s Export prices, Import prices, Retail sales, Initial jobless claims, Business inventories, Canada's New Housing Price Index and Capacity Utilization.

 

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

Intra-Day Market Moving News and Views
12 Dec 2014 02:15GMT

USD/JPY - ....... The greenback swung wildly against the Japanese yen on Thursday. Despite hitting a fresh 2-week low of 117.45 in Tokyo morning on Thursday, dollar ratcheted higher and rose to 119.56 on active short-covering due to the rebound in Nikkei-225 index following the rise in U.S. stock markets.
However, the sell off in crude oil prices (broke $60 per barrel) in late NY knocked price lower to 118.61.
Offers are now tipped at 119.10-20 and more at 119.40-50.
On the downside, some bids are located at 118.70-60 with stops seen below 118.50.


Friday will see the release of New Zealand's Manufacturing PMI, Japan's Capacity Utilization Index Change, Industrial output, Chain's Industrial output, retail sales, German Wholesale Price, France's Current account, Italy's Consumer Prices, U.K.'s Construction O/P, EU's employment, Industrial production, U.S.'s PPI and University of Michigan Sentiment Index.

 

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AceTraderFx Dec 15: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
15 Dec 2014 00:33GMT

USD/JPY - ...... Dollar swung wildly in early Asian trading following Japan's national election on Sunday. Reuters reported Japanese PM Shinzo Abe's coalition cruised to a big election win, ensuring he will stick to reflationary economic policies n a muscular security stance, but record low turnout pointed to broad dissatisfaction with his performance.

The Nikkei is currently down 264 points at 17108 following Friday's decline in the Dow & S&P 500.
The greenback fell due to broad-based gain in the yen after Japanese stocks weakened following an expected big victory for Japanese PM Shinzo Abe's coalition in Sun's election.
Although dlr opened high at 119.04 in thin New Zealand session, price quickly swung from gain to losses due to broad-based buying in yen, dlr later fell to 117.78 ahead of Tokyo open before staging a recovery.

Abe's LDP n its junior partner, the Komeito party, won 326 seats, more than the 317 seats in the 475-member lower house required to maintain a two-thirds "super-majority" that smoothes parliamentary business. But the LDP won 291, slightly short of the 295 it held before the poll.

"I believe the public approved of two years of our 'Abenomics' policies," Abe said in a televised interview. "But that doesn't mean we can be complacent."

Turnout was estimated to be a record low of 53.3%, below the 59.3% in a 2012 poll that returned Abe to power for a rare 2nd term on pledges to reboot an economy plagued by deflation n an aging, shrinking population.

Hopes for Abenomics were hit when Japan slipped into recession in the 3rd quarter following an Apr sales tax rise. Wage increases have not kept pace with price rises n data suggest any economic rebound is fragile.


Data to be released this week:

Japan's Tankan surveys, Switzerland's Proper/Import Price, UK's CBI Trends, U.S.'s NY Fed Manufacturing, Capacity Utilization, Industrial Output, Manufacturing Output, NAHB Housing Market Index, Net Long-Term TIC Flows on Monday.

Australia's RBA Minutes, China HSBC Manufacturing PMI, Markit Manufacturing PMI and Service PMI for France, Germany and Eurozone, Italy's Trade Balance, UK's PPI, CPI,RPI, BoE Financial Stability Report, Germany ZEW Current Conditions, Eurozone's trade balance, Canada's Manufacturing sales, U.S.'s Building Permits, Housing Starts, redbook and Markit Manufacturing PMI on Tuesday.

New Zealand's Current Account, Japan's Trade Balance, exports, imports, Switzeland's SNB's Quarterly Bulletin, ZEW Investor Sentiment, UK's BoE Meeting Minutes and MPC Vote Outcome, Average Earnings, Claimant Count Change, ILO Unemployment, Eurozone's Inflation data, Lobour Costs, Canada's Wholesale trade, U.S.'s CPI, Current Account, FOMC Rate Decision on Wednesday.

New Zealand's GDP, China's House Prices, Switzerland's Trade, Germany's IFO Business Climates, IFO Current Conditions, IFO Expectations, U.K.'s Retail sales, U.S. Markit Service PMI, Philly Fed Business and Leading index change on Thursday.

New Zealand's NBNZ Business Outlook, Germany's Gfk Consumer confidence, Gfk Consumer Sentiment, Producer Prices, France's Business Climate, Eurozone's Current Accounts, Italy's Industrial Sales, U.K.'s Gfk Consumer Confidence, PSNCR, PSNB, CBI Distributive Trades, Canada's CPI and Retail Sales on Friday.