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

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AceTraderFx May 09: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
09 May 2018 03:00GMT

USD/JPY - 109.52.. Despite yesterday's wild swings in hectic New York trading (due to position adjustments before Trump's announcement on Iran nuclear deal and then intra-day brief but sharp fall on U.S. withdrawal from the deal), the greenback jumped shorty after Tokyo morning on Wednesday as rising U.S. yields and renewed usd's strength boosted risk appetite led to broad-based yen selling, the pair rallied from 109.00 (AUS) to as high as 109.64 after tripping stops above 109.40 before easing ahead of Tokyo lunch break.

Dlr's intra-day break above 109.40 (Monday high) suggests the correction from May's 110.04 peak has ended earlier at 108.65 (Friday) and consolidation with upside bias remains, so buying the buck on dips is favoured.
Bids are noted at 108.40-30 and more below with stops below 108.80.
Offers are tipped at 109.65/75 with stops above 110.05.

On the data front, U.S. will release MBA mortgage applications, final PPI and wholesale inventories.
Atlanta Fed President Bostic (voter) will speak at a conference at 17:15GMT.

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AceTraderFx May 10: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
10 May 2018 03:10GMT

EUR/USD - 1.1861.. Euro inched higher in relatively subdued Asian trading after yesterday's intra-day rally in Europe from a fresh 4-month trough of 1.1823 to 1.1897 at New York open on short covering.
However, the single currency quickly pared its gain as usd regained (pun intended) traction in New York session and retreated to 1.1841.

Although yesterday's rebound from 1.1823 to 1.1897 signals recent downtrend has made a temp. low and sideways swings are expected in holiday-thinned European morning as financial markets in Germany, France n Switzerland are closed for Ascension Day holiday and traders are taking cue from U.S. core CPI data at 12:30GMT.
Offers are tipped at 1.1885/95 with stops above 1.1900.
Bids are noted at 1.1845-40 and more below with stops below 1.1820.

Italy is open today n will release industrial production data and the EU will release ots Economic Bulletin at 08:00GMT.

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AceTraderFx May 11: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
11 May 2018 03:10GMT

USD/JPY - 109.40.. Dlr pared initial loss in volatile Tokyo trading. Despite staging a recovery to 109.57 shortly after Tokyo open, a bout of yen buying quickly knocked the pair lower below Thursday's low (New York) at 109.32, price hit intra-day bottom of 109.20 after tripping stops below 109.30, however, lack of follow-through selling soon lifted price back to 109.42.

Yesterday's decline from 110.02 (Europe) to 109.32 in New York after tepid U.S. inflation data n falling U.S. yields, then 109.20 today suggests further broad sideways swings below May's 11-week peak at 110.04 would continue and from a technical standpoint, the volatile price action from said top is possibly developing into a triangle, so one can expect daily wild swings to continue but with a downward bias, so selling dlr on intra-day recovery is the way to go but last week's low at 108.65 (a-leg trough) should remain intact.
Offers are tipped at 109.50/60 with some stops above 109.65.
Bids are noted at 109.20-10 with stops below 109.00.

After yesterday's key U.S. inflation data, we have import and export prices, then later at 14:00GMT, we have University of Michigan consumer confidence index, street forecast for May is 98.5 vs previous reading at 95.5, if actual figure comes in lower than expectation, then the greenback will be sold as more downside retracement is likely after recent rise to a 4-1/2 month highs against the G7 currencies.

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AceTraderFx May 14: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
14 May 2018 03:10GMT

USD/JPY - 109.31.. The pair moved narrowly in quiet Asian trading after Friday's resumption of decline from 110.02 (Thursday) to 109.15 in New York morning due to falling U.S. yields before staging a recovery to 109.43 on profit taking and later moved sideways in subdued New York session.

As dlr's fall from 110.02 suggests further 'choppy' trading below May's 11-week peak at 110.04 would continue n anticipated usd's broad-based retreat after recent strong gains should bring consolidation with downside bias. Therefore, selling the April on recovery is the way to go.
Offers are tipped at 109.40/50 and more above with stops above 109.65.
Some bids are noted at 109.20/15 with stops below 109.00.

There is no eco. data due out fm the U.S., however, 2 Fed Presidents will be speaking today starting with Cleveland Fed's Mester (voter) at 06:45GMT in Paris n later St. Louis Fed's Bullard (non-voter) at 13:40GMT in New York.

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AceTraderFx May 15: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
15 May 2018 02:10GMT

USD/JPY - 109.73.. In stark contrast to yesterday's weakness in Asian morning, the pair maintained a firm undertone and climbed above o/n New York high of 109.66 to 109.79 as rebound in U.S. yields (where the benchmark 10-year climbed above the 3% level) led to broad-based short covering in usd.

Despite intra-day firmness, as it is our view dlr's recent volatile price action from May's 11-week peak at 110.04 is unfolding into a triangle, reckon intra-day upside would falter well below last Thursday's high (b-leg top) and yield another decline later today.
Offers are tipped at 109.65/75 and more above with stops reported above 110.05/10.
Bids are noted at 109.50-40 with stops below there.

U.S. will release a slew of eco. data n the most important one for this week, Apr retail sales is due out at 12:30GMT together with NY Fed mfg index, then Redbook sales, bus inventories and NAHB housing index.
If retail sales miss forecast of a 0.3% increase, then usd will come under renewed selling but if it turn out to be higher than expectation, then dlr will ratchet higher.
Pay attention to speeches by Dallas Fed's Kaplan (non-voter) speech at 12:00GMT and then S. Francisco Fed's Williams (voter) at 17:10GMT.

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AceTraderFx May 16: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
16 May 2018 03:00GMT

EUR/USD - 1.1828.. Euro remains on the back foot in relatively subdued Asian trading, price fell briefly below Tuesday's 4-1/2 month low of 1.1820 to 1.1817 in Australia, despite a minor recovery to 1.1835 at Asian open, sellers emerged n pushed price down to 1.1816.

The lack of a corrective bounce, unlike the intra-day strg bounce from 1.1820 to 1.1875 in New York midday suggests downside bias remains for euro to head to 1.1800, then 1.1865/70 after consolidation, however, reckon 1.1718 sup (2017 Dec low) should remain intact today.
Offers are tipped at 1.1840/45 n more above with stops above 1.1875.
Some bids are noted at 1.1810-00 with stops touted below there.

Euro was sold after downbeat EZ data, today, we have Germany's final CPI, Italy's industrial sales and output, CPI n the same from the EU. at 12:15GMT, ECB President Draghi will speak at a farewell event for ECB VP Constancio, then at 12:30GMT, ECB's Coeure will speak at the same event followed by ECB's Praet at 14:30GMT.


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AceTraderFx May 17: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
17 May 2018 03:10GMT

USD/JPY - 110.18.. Despite initial firmness at Tokyo open due to rising U.S. yields where benchmark 10-year climbed marginally above yesterday's fresh 7-year high of 3.104% to 3.108%), usd's broad-based retreat knocked price from 110.39 to 110.08, suggesting further choppy trading below Tuesday's 3-month peak at 110.45 would continue.

As long as yesterday's low at 110.04 (prev. May's high, now sup) holds, dlr's recent uptrend should resume after present choppy consolidation is over n buying on dips for intra-day n day trades are still favoured. Bids are noted at 110.10-00 with stops below there. Offers are tipped at 110.40/45 with stops reported above 110.50.

U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey and then leading indicator. We have several Fed officials making speeches today, pls refer to our EI page for details.


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AceTraderFx May 18: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
18 May 2018 03:00GMT

USD/JPY - 110.94.. Dlr reigns supreme vs the interest -rate-sensitive Japanese yen n hits a fresh 3-1/2 month peak of 110.99 in Asian morning on Fri.

Despite trading narrowly in Australia, the pair easily penetrated Thursday's high at 110.86 (New York) as U.S. benchmark 10-year yield popped higher again after Tokyo open (10-year rose above Thursday's fresh near 7-year high of 3.1224% to 3.1279%) and climbed to 110.99 and present firmness suggests price would flirt with 111.00 level soon but unless U.S. yields continue to move sharply higher, reckon minor res at 111.48 should cap upside.

Therefore, whilst trading the greenback from long side is the way to go, profit should be taken on next leg of upmove as pre-weekend profit taking may occur later in New York session.
Bids are noted at 110.80-70 with stops below 110.60.
Offers are tipped at 111.00/10 with some stops touted above there.

Although no U.S. eco. data is due out today, 3 prominent Fed officials will be speaking during the day, starting with Cleveland Fed President Mester (voter) at 07:00GMT in Frankfurt, then Dallas Fed's Kaplan (non-voter) at 13:15GMT n also at the same time but in a different place, Fed Board Gov. Brainard (voter).

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AceTraderFx May 21: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
21 May 2018 03:00GMT

USD/JPY - 111.00.. Dlr regains traction in Asian trading on Mon after retreating from Friday's 4-month high of 111.08 to 110.61 in New York morning due to falling U.S. yields. However, price opened higher to 110.98 in New Zealand (Friday's New York close was 110.74) as easing of U.S./China trade tension (see 23:52GMT news) boosted risk appetite and intra-day rebound in U.S. yields led to broad-based usd's strength, the pair later climbed to as high as 111.07.

Intra-day firmness suggests price would head higher to 111.25/30 after consolidation, however, reckon minor daily res at 111.48 would hold on 1st testing.
Bids are noted at 110.90-80 n more below with stops below 110.60.
Offers are tipped at 111.05/10 with sine stop above there.

U.S. eco. calendar is very light with Chicago Fed national activity index being the only data due out at 12:30GMT. We have 3 Fed officials speaking later in the day, starting with Atlanta Fed's Bostic (voter), then Philly Fed's Harker (non-voter) and Minneapolis Fed's Kashkari (non-voter) at 21:30GMT.

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AceTraderFx May 23: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
23 May 2018 03:30GMT

EUR/USD - 1.1751.. Despite trading narrowly in New York afternoon session following yesterday's decline from 1.1830 (Europe) to 1.1770 in New York morning, the single currency fell in Asian morning due partly to intra-day selloff in eur/yenandn eur/chf.

Present firm break of yesterday's low at 1.1757 strongly suggests the correction from Monday's 6-month trough at 1.1717 has ended and price is en route to re-test this temp. sup level after consolidation, however, there is market chatter of option defence at 1.1700, so this level may not break easily without a fight. However, for now, selling euro on intra-day recovery is the way to go.
Offers are tipped at 1.1770/80 and more above with stops above 1.1800.
Some bids are noted at 1.1750 and more at 1.1720/25 with stops below 1.1700.

Today is PMI day in the euro area countries, France with kick off with unemployment rate, Markit mfg n services PMI, then the same from Germany n the the EU. ECB's Angeloni will speak at a conference on Brussels at 09:00GMT.

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