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

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

Intra-day Market Moving News and Views
23 Jun 2015 03:00GMT

GBP/USD - ..... Despite cable's sideways move in NY afternoon after early intra-day sell off from 1.5910 to 1.5806 on Monday, the pair tumbled again after meeting renewed selling at 1.5831 ahead of Asian open on Tuesday and then staged a sudden sell off to 1.5766 in part due to cross-selling in sterling.

Due to the thin U.K. economic calendar today, fund flow should dominate the market and the British pound is expected to track euro's intra-day swing closely.
Having said that, The Confederation of British Industry will release its survey on U.K. industrial trend for Jun at 10:00GMT and its is estimated to turn back into positive figure at 1 vs -5 in preceding month.

At present, fresh offers are building up at 1.5790-1.5810 region with mixture of offers and stops at 1.5830-40.
On the downside, bids are placed at 1.5750-40 and more around 1.5720 with demand from real money accounts at 1.5700.

Tuesday will see the release of Australia's CB leading index and home price index, China's HSBC manufacturing PMI, Germany's and eurozone Markit manufacturing PMI and services PMI respectively, U.K. inflation report hearing and CBI trends, U.S. durable goods, Redbook, monthly home price and new home sales.

 

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AceTraderFx Jun 24:Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views

24 Jun 2015 07:00GMT
GBP/USD - ..... Cable ratcheted higher after meeting renewed buying at 1.5724 in Aust. and then rallied to 1.5803 in European morning due to active cross-buying in sterling before easing. (EUR/GBP fell from 0.7113 to 0.7085 whilst GBP/YEN rose from 194.88 to 195.78)

At present, stops located above 1.5810 are now in focus but selling interest from various accounts is noted in 1.5830-40 region.
On the downside, bids are building up at 1.5770-60 and more around 1.5750 with mixture of bids and stops at 1.5730-20.

 

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

Intra-day Market Moving News and Views
30 Jun 2015 03:09GMT

GBP/USD - ..... Cable showed muted reaction to early release of upbeat U.K. consumer confidence. Reuters reported British consumer morale surged to its highest in over 15 years this month as shoppers said they were ready to spend, a survey showed on Tuesday, adding to signs that growth is picking up after a weak start to the year.

Although cable rebounded in tandem with euro on Monday and ratcheted higher from a 2-week trough at 1.5645 (NZ) to 1.5789 near European close, active cross-selling in sterling especially vs euro knocked price down to 1.5720.
Later, cable briefly rebounded to 1.5762and then moved in a relatively narrow range of 1.5722-1.5733 in NY afternoon and as well as in Asian morning on Tuesday.

If the actual readings of the UK GDP are higher than forecasts, then we may see a boost higher in the British pound across the board and therefore, buying cable on intra-day dips is recommended.
At present, bids are noted at 1.5700-1.5690 and more around 1.5670 with mixture of bids and stops at 1.5650-40.
On the upside, offers are reported at 1.5745/50, 1.5760-70 and then 1.5785/90 with stops building up just above 1.5800.

Tuesday will see the release of U.K. GfK consumer confidence, New Zealand NBNZ business outlook, Australia's HIA new home sales, Japan's construction order and housing starts, Germany's retail sales, Swiss KOF indicator, Germany's unemployment rate, U.K. current account, GDP, inflation report hearings, Canada's GDP, U.S. Redbook, Chicago PMI and consumer confidence.

 

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AceTraderFx Jul 3: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
03 Jul 2015 02:46GMT

GBP/USD - 1.5608... Although cable staged a rebound from a fresh 2-1/2 week trough at 1.5580 in European morning on Thur n climbed to 1.5624 after release of upbeat Markit/CIPS construction PMI, active cross-selling in sterling knocked price lower to 1.5562 in NY morning before broad-based weakness in the greenback lifted price briefly to 1.5640 after tepid U.S. jobs data. Later, cable edged lower to 1.5592 near NY close and then climbed back to 1.5624 in Asia on Friday.

Today's focus for the British pound is on the release of important Markit/CIPS service PMI at 08:30GMT.
Street forecast is for reading to improve to 57.4 in June compares to 56.5 in previous month. Until then, sideways range trading inside yesterday's intra-day range of 1.5562-1.5640 is likely to be seen.

At the moment, bids are tipped in 1.5580-60 region with stops building below 1.5550, whilst offers are reported at 1.5630-40 with selling interest from various accounts up from 1.5660 to 1.5680.

Friday will see the release of Australia's retail sales, China's HSBC services PMI, Germany's and U.K. Markit services PMI, eurozone retail sales. U.S. will be closed for Independece Day holiday on Friday.

 

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AceTraderFx Jul 22: Intra-Day News and Views (GBP/USD) & data to be released today

Intra-day Market Moving News and Views
22 Jul 2015 02:59GMT

GBP/USD - ...... Cable fell below Monday's low at 1.5538 to 1.5529 in European morning on Tuesday on 'active' long liquidation in sterling crosses before recovering to 1.5574 in NY and then rose briefly to 1.5577 in Asian morning on Wednesday due to broad-based weakness in the greenback.

Today, BoE will release the MPC vote outcome n minutes of the MPC meeting ending 8 July at 08:30GMT.
Market expects to minutes may show policymakers held back on interest rate hike due to the Greek debt crisis and uncertainty surrounding the summer Budget.

At the moment, bids are noted at 1.5540-30 and then 1.5510/05 with mixture of bids and stops at 1.5500-1.5490.
On the upside, offers are reported at 1.5590-00 and around 1.5620 with selling interest from various accounts tipped at 1.5630-50 region.

Wednesday will see the release of Australia's Westpac leading index and CPI, BoE minutes, vote outcome, inflation report hearing, CBI distributive trades, U.S. monthly home price index, Markit service PMI, existing home sales and eurozone consumer confidence.

 

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

Intra-day Market Moving News and Views
27 Jul 2015 02:16GMT

GBP/USD - ...... Although cross-selling in sterling pressure price lower to 1.5467 in European morning on Friday, price recovered later in the day and climbed back to 1.5527 in tandem with euro in NY session.
Cable found support at 1.5499 near NY close and then edged higher in tandem with eur/usd to 1.5539 in Asia on Monday before easing.

Due to the absence of U.K. eco. data and events today, the British pound is expected to track euro's intra-day swing closely.
At present, bids from various accounts are reported at 1.5515-05 and then 1.5500-1.5490 with stops building up below 1.5470.
On the upside, offers are placed at 1.5550-60 and around 1.5580 with mixture of offers and stops at 1.5590-00.

This week will see the release of Japan's CSPI, New Zealand's ANZ business confidence, Germany's import price, Ifo business climate, U.K. CBI trends, U.S. durable goods and building permits on Monday.

Australia's NAB business confidence, U.K. GDP, Canada's producer prices, U.S. Redbook, Markit services PMI and consumer confidence on Tuesday.

Japan's retail sales, Germany's GfK consumer sentiment, Swiss UBS consumption indicator, U.K. mortgage approvals and CBI distributive trades, U.S. pending home sales change, FOMC rate decision and Fed's monetary policy statement on Wednesday.

New Zealand's building consents, Japan's industrial output and IP forecast, Australia's building approvals, import and export prices, Swiss KOF indicator, Germany's unemployment, eurozone business climate, consumer inflation expectation, consumer confidence, unemployment rate, eurozone unemployment rate, Germany's CPI and HICP, U.S. initial jobless claims on Thusday.

U.K. GfK consumer confidence, Japan's all household spending, CPI and unemployment rate, Australia's PPI, Japan's construction orders and housing starts, eurozone inflation, Canada's GDP, U.S. employment costs, Chicago PMI and Reuters/Michigan consumer sentiment index on Friday.

 

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

Intra-day Market Moving News and Views
28 Jul 2015 02:41GMT

GBP/USD - ..... Despite cable brief but sharp retreat from 1.5544 to 1.5490 in European morning on Monday due active cross-selling of sterling vs eur & yen, price ratcheted higher in tandem with euro in NY morning to 1.5595 before retreating.
Later, cable edged lower to 1.5553 in NY afternoon and then moved sideways in Asian morning.

Expecy yesterday's high to hold from here as market focus is on the release of U.K. Q2 GDP at 08:30GMT. Forecast for the preliminary estimate of UK 2nd quarter GDP from the Office for National Statistics (ONS) to show a 0.7% quarter-on-quarter increase following a 0.4% rise in the first 3 months of the year.

At the moment, bids are noted at 1.5550-40 and more below with stops reported below 1.5520.
On the upside, offers are tipped at 1.5580-90 and more above with stops building above 1.5600.

Tuesday will see the release of Australia's NAB business confidence, U.K. GDP, Canada's producer prices, U.S. Redbook, Markit services PMI and consumer confidence. Market players are now focusing on this Wednesday's Federal Reserve policy meeting.

 

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

Intra-day Market Moving News and Views
14 Sep 2015 2:00GMT

GBP/USD - ..... Despite last Friday's sharp fall to 1.5400 in New York morning on cross-selling of sterling vs euro, the British pound recovered to 1.5442 in New York afternoon before stabilising.
Price found renewed buying in New Zealand on BoE's Weale comments and price rose to 1.5459 in Asian morning as the rise in Asian equities improved risk appetite.

Since there is no eco. data due today, price is likely to track euro's intra-day movements closely till European open. Investors would be way of entering any positions ahead of Fed's crucial meeting, commencing on Wednesday.

Bids are now seen at 1.5440/50 and more below at 1.5420/30 with stops building up above there whilst initial offers are noted at 1.5490/00, suggesting buying on dips is the favored strategy.

Data to be released:
Japan Capacity Utilization, industrial output, Tertiary industry index, Switzerland producer/import price, Italy consumer prices, euro zone industrial production on Monday.
Australia RBA meeting minutes, Japan BoJ rate decision, BoJ statement and press conference, France CPI, UK CPI, PPI, RPI, Germany ZEW, euro zone employment, trade balance, U.S. retail sales, NY Fed manufacturing index, Redbook, capacity utilization, industrial output and business inventories on Tuesday.
New Zealand current accounts, Australia Westpac leading index, Japan BoJ monthly economic survey, UK average earnings, claimant count unemployment change, ILO unemployment rate, Eurozone inflation, Switzerland ZEW investor sentiment, U.S. CPI, weekly earnings, NAHB housing market index, net long-term flows on Wednesday.
New Zealand GDP, Japan trade reports, Switzerland 3-month target LIBOR rate, Italy trade balance, UK retail sales, U.S. building permits, current account, housing starts, Philly Fed business index, and Federal funds target rate on Thursday.
China house prices, euro zone current accounts, Canada CPI, and U.S. leading index change on Friday.

 

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

Intra-day Market Moving News and Views
15 Sep 2015 03:00GMT

GBP/USD - ....... Despite yesterday's selloff in tandem with euro from European high at 1.5471 to as low as 1.5373 in New York morning, the British pound pared its losses and staged a strong rebound to 1.5434.
Price has met renewed selling at 1.5432 at Asian open and continues to remain under pressure in Asian morning.

UK is set to release a slew of inflation related data at 08:30GMT. Headline figures CPI mm and yy are expected to come in at 0.2% and 0.0% vs previous readings of -0.2% and 0.1% respectively.

Offers are now seen at 1.5440/50 and more above at 1.5460/70 with stops building up above last week's high at 1.5476.
Initial bids are noted at 1.5370/80, suggesting one should look to sell on intra-day recovery.

Data to be released on Tuesday:
Australia RBA meeting minutes, Japan BoJ rate decision, BoJ statement and press conference, France CPI, UK CPI, PPI, RPI, Germany ZEW, euro zone employment, trade balance, U.S. retail sales, NY Fed manufacturing index, Redbook, capacity utilization, industrial output and business inventories.

 

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AceTraderFx Sept 23: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
23 Sep 2015 01:34GMT

GBP/USD - ...... Although the British pound finally gained some respite after yesterday's selloff to 1.5341 and recovered to 1.5383 in New York afternoon, price met renewed selling there and fell again to 1.5343 at Asian open and continues to remain under pressure.
Cable's selloff yesterday was attributed to a report, which showed UK's deteriorated unexpectedly to their lowest level in 3 years.

Britain's headline measure of public borrowing rose to 12.1 billion pounds ($18.7 billion) in August from 10.7 billion pounds a year earlier, the Office for National Statistics said. Forecasts were it would narrow to 9 billion pounds.

Since there is no eco. data due today, price is likely to follow euro's intra-day movements.
However, one should keep an eye on the EUR/GBP cross, especially during Draghi's speech later today.

Offers have now been lowered to 1.5370/80 and more above at 1.5390/00 with stops building up above there whilst initial bids are noted at 1.5300/10, suggesting selling on pullback is still favored.