AceTraderFx Apr 28, 2014: Intra-Day Market Moving News and Views GBP/USD

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

Intra-Day Market Moving News and Views
14 Apr 2015 02:32GMT

GBP/USD - ...... Cable strengthened after a brief drop to 1.4661 in Australia n price penetrated NY res at 1.4682 in Asian morning before retreating to 1.4666 due partly to cross-selling in sterling vs yen.

As yesterday's intra-day rebound from a fresh near 5-year trough at 1.4566 on short-covering strongly suggests recent losing streak has made a temporary low there, buying the British pound on intra-day pullback is favoured today.
Having said that, investors should pay close attention to the release of a slew of U.K. economic data at 08:30GMT (CPI, PPI, RPI and DCLG House Price Index).

At present, bids are noted at 1.4660-50 and around 1.4630 with mixture of bids and stops emerging below 1.4610.
On the upside, offers are placed at 1.4700-10, 1.4725/30 and more at 1.4740-50 with stops located just above 1.4750.

Tuesday will see the release of New Zealand NZIER confidence, U.K. BRC retail sales, Australia's NAB business confidence, Germany's WPI, U.K. CPI, PPI and RPI, eurozone industrial production, U.S. retail sales, Redbook and business inventories.

 

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

Intra-Day Market Moving News and Views
24 Apr 2015 02:34GMT

GBP/USD - ....... Cable rebounded strongly on Thursday after a brief drop to 1.4960 in Europe after U.K. retail sales missed estimates. Despite subsequent rally to session high of 1.5070 in NY afternoon, selling interest below Wednesday's 5-week peak at 1.5080 capped intra-day gain at 1.5070 n price subsequently retreated to 1.5042 at Asian open and then marginally lower to 1.5036.
Due to the absence of U.K. economic events on Friday, the British pound is likely to track euro's intra-day move closely, however, near term 'active' unwinding in eur/gbp cross (eur/gbp rallied from 0.7111 to 0.7198 on Thur) should weigh on the demand on cable today.

At the moment, offers are tipped at 1.5060-70, 1.5080-90 n more around 1.5100 with mixture of offers n stops located at 1.5120-30, whilst bids from various accounts are placed at 1.5010-00 and then 1.4980-70 with stops emerging just below yesterday's low at 1.4660.

Reuters reported earlier BoJ Governor Haruhiko Kuroda said that the country's trend inflation is steadily improving due to a tightening output gap and rising inflation expectations.
Kuroda, speaking in parliament, said the output gap is estimated around zero and will continue to improve ahead, while anchoring inflation expectations near 2% is very important in achieving the central bank's price stability goal.

Friday will see the release of Germany's Ifo business climate and U.S. durable goods.

 

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AceTraderFx May 5: Intra-Day News and Views (GBP/USD) & data to be released today

Intra-day Market Moving News and Views
05 May 2015 02:29GMT

GBP/USD - ...... The British pound tracked euro's intra-day move closely on Monday. Despite staging a recovery after early intra-day's sell off from 1.5175 (Europe) to 1.5090 at NY open, price met renewed selling interest at 1.5149 and quickly weakened to 1.5099 on renewed usd's broad-based strength following upbeat U.S. factory orders before moving very narrowly in NY afternoon and as well as during Asian morning on Tuesday.

U.K. markets will return today after yesterday's Early May Day holiday The Markit research group will release its U.K. construction PMI index at 08:30GMT.
Market expects a slight drop in the index to 57.4 in Apr from 57.8 in previous month.

Expects sideways move above yesterday's low at 1.5090 to continue in subdued Asian trading but selling the British pound on intra-day recovery is recommended due to recent weakness in European ccys vs the usd.
At present, offers are noted at 1.5135/40, 1.5150-60 n more at 1.5170-80 with stops building up above 1.5180, whilst bids are placed at 1.5100-1.5090 with some stops below there.

Tuesday will see the release of Australia new home sales, exports, imports, trade balance, RBA rate decision, France budget balance, UK construction PMI, EU producer prices, Canada imports, exports, trade balance, U.S. trade balance, Redbook retail sales, ISM non-manufacturing and services PMI.

 

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AceTraderFx May 11: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
11 May 2015 08:44GMT

GBP/USD - ....... Cable moves in a volatile fashion in European morning as investors are reluctant to enter large position ahead of BoE monetary policy decision at 11:00GMT.
Despite edging higher from Asian low at 1.5405 in tandem with euro to 1.5335 at European open, cross-selling in sterling knocked price down to 1.5393 before staging another bounce to 1.5431.

At present, offers are touted at 1.5450-60 and around 1.5480 with a mixture of offers and stops at 1.5490-00.
On the downside, bids are reported at 1.5390/85 and then 1.5375/70 with stops building up below 1.5355 (reaction low from Fri's fresh 2-month peak at 1.5523).

 

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AceTraderFx May 18: Intra-Day News and Views (GBP/USD) & data to be released today

Intra-day Market Moving News and Views
18 May 2015 02:48GMT

GBP/USD - ..... Despite cable's intra-day strg rebound from 1.5702 to 1.5809 in NY session on Friday, active cross-selling in sterling, especially vs euro, knocked price down to 1.5721 near NY close.
Cable opened higher at 1.5745 in NZ today and then fell to 1.5707 in tandem with eur/usd after Asian open.

Due to lack of important U.K. economic data today, the British pound is likely to follow intra-day swings in the euro.
Earlier, property tracking website Rightmove said on Monday that the average asking price for a new house in the UK was down 0.1% on month in May.
On a yearly basis, house prices advanced 2.5%, slowing from 4.7% in the previous month.

At present, bids are reported at 1.5710-00 with stops below there.
On the upside, offers are located at 1.5750-60 and more above with some stops above 1.5820.

This week will see the release of U.K. Rightmove house price, Japan's machinery orders, China house prices, Japan's capacity utilization index, industrial output and tertiary industry index, Swiss retail sales, Germany's Buba monthly report and U.S. NAHB housing market index on Monday.

New Zealand's PPI, Australia's CB leading indicator and RBA meeting's minutes, U.K. CPI, PPI, RPI and DCLG house price index, Germany's ZEW economic sentiment, eurozone inflation report, U.S. building permits, housing starts and Redbook on Tuesday.

Japan's GDP, Australia's Westpac consumer confidence, Germany's producer prices, ECB's meeting, U.K. MPC vote outcome, Swiss ZEW investor sentiment, Canada's wholesales trade and FOMC minutes on Wednesday.

Australia's consumer inflation expectation, Japan's Nomural/JMMA Mfg PMI, New Zealand's budget cash balance, Japan's all industry activity, Germany's and eurozone Markit comp., service and manufacturing flash PMI respectively, U.K. retail sales, CBI trend trade, U.S. initial jobless claims, Chicago Fed actively index, Philly Fed business index and existing home sales on Thursday.

Japan's Tankan DI, China's CB leading economic index, Bank of Japan monetary policy statement and press conference, Germany's GDP, Ifo business climate, U.K. PSNCR, U.S. CPI, Canada's CPI and retail sales on Friday.

 

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AceTraderFx May 20: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
20 May 2015 02:11GMT

USD/JPY - ....... Dlr shrugged off surprise upbeat Japan's GDP n rose above overnight NY high of 120.74 to an 8-week peak of 120.98 in early Asian trading as a gain in the Nikkei index boosted risk appetite and triggered broad-based selling in yen.

Today's focus for the greenback is the release of FOMC minutes at 18:00GMT and although price has continued to ratchet higher following the upbeat U.S. housing market data released on Tuesday and buying dlr on dips is recommended, sharp gain beyond 121.20 is ahead of the said minutes.

At the moment, bids are noted at 120.70-60 and around 120.50 with mixture of bids and stops at 120.30-20.
On the upside, offers from various accounts are placed at 121.20-30, 121.40-50 and more in 121.70-90 region.

Wednesday will see the release of Japan's GDP, Australia's Westpac consumer confidence, Germany's producer prices, ECB's meeting, U.K. MPC vote outcome, Swiss ZEW investor sentiment, Canada's wholesales trade and FOMC minutes.

 

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AceTraderFx May 26: Intra-Day News and Views (GBP/USD) & data to be released today

Intra-day Market Moving News and Views
26 May 2015 02:27GMT

GBP/USD - .... Cable languishes above intra-day 2-week low of 1.5432 after falling in tandem with eur/usd at Asian open, triggering stops below 1.5455 and 1.5445 on the way down.
However, sterling's decline is relatively less severe as compared to euro as eur/gbp cross pair is trading near Monday's fresh 2-month low at 0.7073.

Looks like cable would track intra-day swings in eur/usd in European morning as the only U.K. data due out is CBI distributive trades which will be released at 10:00GMT.
Order book is pretty thin due to closure of U.K. markets on Monday for Spring Bank holiday, now, offers are tipped at 1.5460/70 and more above with stops touted at 1.5510.
Some bids are touted at 1.5430-20 with some stops below 1.5390.

Data to be released on Tuesday:

New Zealand's trade balance, U.K. CBI distributive trades, U.S. durable goods, Redbook, monthly house price index, CaseShiller 20 MM, consumer confidence and new home sales.

 

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

Intra-day Market Moving News and Views
29 May 2015 02:51GMT

GBP/USD- ..... Although cable fell to a fresh 3-week trough at 1.5260 following the release of weaker-than-expected UK GDP data (2nd reading) in Europe on Thursday, the British pound rebounded in tandem with euro during the NY session and then climbed to 1.5343 in Asian morning on Friday.

Due to lack of important U.K. economic data today, the British pound is likely to follow intra-day swings in the euro. As investors have shrugged off the poor reading of Gfk consumer confidence for U.K. reported released earlier in Asia on Friday, buying the British pound on dips is recommended.

At present, bids from various accounts are reported at 1.5325/20, 1.5310/05 and then around 1.5300 with mixture of bids and stops at 1.5280-70.
On the upside, cross-related offers are tipped at 1.5345/50 and more at 1.5360-70 with release selling interest noted further out around 1.5400 .

Friday will see the release of New Zealand's building consents, U.K. GfK consumer confidence, Japan's CPI, household spending, unemployment rate, industrial production and IP forecast, Australia's HIA new home sales, Japan's construction orders, housing starts, Swiss GDP and KOF indicators, Canada's GDP and U.S. Chicago PMI.

 

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

Intra-day Market Moving News and Views
10 Jun 2015 02:32GMT

GBP/USD - ...... The British pound tracked euro's intra-day swing closely on Tuesday and despite falling from Asian high of 1.5375 to as low as 1.5257 in NY morning, price rebounded and then rallied to 1.5389, helped by active cross-buying in sterling vs euro and yen. Cable later edged higher to 1.5400 at Asian open on Wednesday before easing.

Expect the pound to move closely with euro until the release of UK industrial data in European morning at 08:30GMT.
Street forecast for both UK industrial output and manufacturing output in May to slow down to 0.1% from previous reading of 0.5% and 0.4% respectively.

Later in NY session, we will see release of UK GDP estimate over the last 3 months by the National Institute of Economic and Social Research which is highly reliable and would influence the UK monetary policy.
In addition, investors should pay attention to the speeches by UK FinMin George Orsborne n BoE's Mark Carney near NY close at 20:00GMT (see early udpate for details).

At the moment, bids are reported at 1.5370-60 n around 1.5350 with mixture of bids and stops at 1.5330-20, whilst offers are tipped at 1.5410/15 and then 1.5430-40 with stops just above last week's top at 1.5441.

Wednesday will see the release of Japan's machinery orders, Australia's Westpac consumer confidence, U.K. industrial and manufacturing output, NIESR GDP estimate and U.S. Federal budget.

 

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AceTraderFx Jun 16: Intra-Day News and Views (GBP/USD) & data to be released today

Intra-day Market Moving News and Views
16 Jun 2015 02:49GMT

GBP/USD - ..... Cable tracked euro's intra-day swing closely on Mon but intra-day's rally extended more compared to other European ccys. The British pound rose to a fresh 3-week high of 1.5614 vs the USD in NY afternoon due to active cross-buying in sterling vs yen (gbp/jpy rose to a fresh 6-year peak a t 192.66 on Mon) and then retreated to 1.5587 at Asian open on Tuesday before rebounding.

Today's focus for the British pound is on the release of UK's CPI, PPI, RPI and DCGL house price index at 08:30GMT.
Market expects the UK's inflation in May to be 0.2% m/m adn 0.1% y/y compare to previous readings of 0.2% and -0.1% respectively.

At present, bids are noted at 1.5590-80 and around 1.5570 with stops below 1.5550, whilst offers are reported at 1.5620/25, 1.5645/50 and then 1.5670-80 with stops building just above 1.5700.

Tuesday will see the release of Australian RBA meeting minutes, Germany's CPI and HICP, U.K. CPI, PPI, RPI and DCLG house price index, ZEW economic sentiment, Eurozone employment change, U.S. building permits, housing starts and Redbook.