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

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AceTraderFx Jun 07: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1792.. Euro stands tall in Asian trading and briefly penetrated Wed's 1.1796 high to a fresh 2-week top of 1.1800 after meeting renewed earlier in Australia at 1.1773.

The fact that price has maintained a firm undertone ahead of Tokyo lunch break suggests further gain would be seen in European trading as traders continued to cover their recent short positions after yesterday's hawkish comments by 4 ECB Board members : ECB's Praet, Knot, Weidmann and Hansson who were telling us an announcement of QE exit is most likely at next Thursday's ECB meeting.
Therefore, euro is likely ratchet higher on the back of this hawkish expectation and buying on dips is the way to go.
Bids have been raised to 1.1780-70 with stops below 1.1760.
Some offers are tipped at 1.1800/10 with stops reported above res at 1.1830.

Although no speeches by ECB officials are scheduled today, we have a slew of euro area eco. data starting with German industrial orders, France's trade data, Italy's retail sales and EU's GDP.

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AceTraderFx Jun 08: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 109.76.. Dlr remained on the back foot in choppy European trading on Thursday and later tumbled from 110.09 ahead of New York open to as low as 109.49 in New York afternoon as sharp fall in U.S. yields (benchmark 10-year yield dropped from 2.9938% to 2.884%) led to broad-based yen buying.

Although the pair staged a rebound to 109.85 in early Asian trading as U.S. yields recovered, as the decline from Wed's 2-week high at 110.26 to 109.49 yesterday signals recent cross-inspired upmove has made a top, consolidation with downside bias is seen as investors are expected to turn to safe-haven yen and the Swiss franc ahead of the 2-day G7 meeting in Canada later today where U.S. Trump will be fighting with other G7 leaders after imposing U.S. trade tariffs on steel and aluminium.
Therefore, selling dlr (or buying the yen) on recovery is the way to go (our intra-day and daily strategies are both holding short positions).
Offers are tipped at 109.85/95 with stops above 110.00, more stops are reported above 110.30.
Some bids are noted at 109.60-50 with stops below 109.30.

U.S. eco. calendar is very light with wholesale inventories and wholesale sales being the only 2nd-tier data due out at 14:00GMT, As mentioned above, all eyes are on the G7 esp. on wordings of the G7 communique.

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

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

USD/JPY - 109.68.. Dlr climbed in hectic Asian trading as fear of trade war after tense G7 meeting and U.S/Canada spat triggered safe-have buying of yen at New Zealand open, the pair initially fell to 109.23 before ratcheting higher, price later rose to 109.73 ahead of Tokyo lunch break on buying in eur/yen and gain to U.S. yields.

Intra-day cross-inspired strg bounce suggests decline from last week's high at 110.26 (Wednesday) has made a temp. low at 109.20 on Friday and choppy sideways swings are in store, however, as long as res at 109.95 (Friday high) holds, consolidation with downside bias remains.
Offers are tipped at 109.70/80 with stops above 109.90.
Bids are noted at 109.0-20 with stop below there, more stops are touted below 109.00.

No U.S. eco. data is due out as market is awaiting 2-day FOMC meeting on Tuesday and market is bracing for another quarter-point rate hike on Wednesday, so U.S. eco. data will be overlooked until rate decision is announced.

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AceTraderFx Jun 12: Intra-Day Market Moving News and Views -EUR/USD

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

EUR/USD - 1.1765.. Euro pares intra-day losses as initial rally in dlr/yen in Australia led to broad-based usd's strength, price fell from 1.1785 (AUS) to as low as 1.1741 in early Asian trading after tripping stops below 1.1775 (Monday's New York low), however, buying interest later emerged and euro edged higher back to 1.1770 ahead of Tokyo lunch break.

Although yesterday's decline from 1.1821 to 1.1741 in Asian on Tuesday suggests further choppy trading below last Thursday's 3-week high at 1.1840 would continue, as long as 1.1727 (Friday's reaction low) holds, the volatile trading from 1.1840 is possibly unfolding into a triangle pattern, suggesting recent upmove wud resume after present consolidation is over.
Therefore, buying euro on dips is favoured (our daily has entered long on intra-day decline.
Bids are noted at 1.1745-35 with stops below 1.1720.
Offers are tipped at 1.1775/85 with some stops above 1.1800, more stops are reported above 1.1840.

On the eco. calendar, pay attention to release of Germany's ZEW economic sentiment n current conditions as well as EU's ZEW economic sentiment, all will come out at 09:00GMT.

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AceTraderFx Jun 13: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 110.58.. Dlr stands tall in Asian trading after climbing above yesterday's 110.49 high to a 3-week top of 110.61 due to usd's broad-based strength which began in New York session on Tuesday as investors were buying the greenback ahead of FOMC's rate decision where the Fed is expected to make another quarter-point rate hike at the end of its 2-day meeting at 18:00GMT.

Although the Fed is widely expected to raise its key interest rate, usd will climb further if the accompanied statement and Fed's dot plot point to 2 more rate increases later this year. Also, if Fed Chairman J. Powell sounds hawkish at the post-FOMC press conference, dlr would climb further.
For now, bids have been raised to 110.50-40 with stops below 110.10.
Offers are tipped at 110.60/70 with stop above 110.80 and more above 111.00.

Ahead of FOMC announcement, U.S. will release MBA mortgage applications, May final PPI and core May PPI.

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AceTraderFx Jun 14: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
14 Jun 2018 03:00GMT

EUR/USD - 1.1793.. The single currency stand tall in subdued Asian trading following o/n impressive rally in post-FOMC New York from 1.1726 to 1.1801, then marginally higher to 1.1805 ahead of Asian open before easing on profit taking.

As market has more or less brushed off Fed's widely rate hike and hawkish rate outlook for 2 more rate increased this year n all eyes are on today's special ECB's live meeting in Riga, Latvia where traders are awaiting QE exit (tapering) from the horse's (ECB President Draghi's) mouth, if he explicitly announcement QE tapering, then euro will rally, if not, the single currency will tank as market is going into the ECB meeting 'long'.
For now, order book is pretty thin after FOMC, bids are noted at 1.1780-60 area and more below with stops touted below 1.1720.
Offers are tipped at 1.1810/20 with stops reported above 1.1840/50.

Ahead of ECB rate decision, we have Germany's final CPI and HICP n then France's CPI. French MinFin Le Maire will speak in Paris at 06:15GMT.

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

Intra-Day Market Moving News and Views
15 Jun 2018 02:55GMT

USD/JPY - 110.56.. Dlr continues to trade in familiar territory but not so for other G7 counterparts where prices have moved one or 2 big figures lower vs the usd in Asia today as compared to their rates 24 hours ago as intra-day selloff in the eur/usd triggered broad-based usd buying in hectic New York trading.

Despite extending decline from this week's 110.85 high (Wednesday) to session lows of 109.92 due to usd's weakness on falling U.S. Treasury yields in early European trading, renewed buying interest lifted the pair n subsequent eur/usd-led rally in post-ECB helped price to hit intra-day high at 110.69 before stabilising.

Although yesterday's gain to 110.69 suggests pullback from Wednesday's 3-week peak at 110.85 has ended, safe-haven buying in the yen due to renewed U.S./China trade tensions (see early MMN) should prevent strong rise and reckon upside would falter below May's top at 111.40. Expect muted reaction to widely anticipated unchanged BoJ's rate n monetary policy decision where announcement usually comes during Tokyo lunch break as market awaits BoJ Governor post-BOJ meeting presser at 06:30GMT.
For now, offers are tipped at 110.70/80 with stop above 110.85 and more above 111.00.
Bids are noted at 110.50-40 and more below with stops reported below 109.90.

T.G.I.F., U.S. will later release New York Fed mfg index, industrial prod., capacity utilization, mfg output and University of Michigan consumer confidence. Dallas Fed President Kapan will be speaking at 17:30GMT.

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AceTraderFx Jun 19: Intra-Day Market Moving News and Views -USD/JPY

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

USD/JPY - 109.88.. Although dlr traded narrowly in Australia after swinging sideways in subdued New York afternoon session on Monday, comment by Trump ahead of Tokyo open who had threatened to add another $ 200 bln of tariff on Chinese goods triggered broad-based buying of yen (the safe-haven Swiss franc also gained in tandem with yen), price fell from 110.58 (AUS) to 110.02 at Tokyo open.

The pair then hit intra-day low of 109.80 after China said will 'fight back firmly' if U.S. published additional tariffs list.

Dlr's intra-day break of Monday's 110.30 low to 109.80 confirms recent upmove has made a temp. top at yesterday's 3-week peak at 110.90 and choppy trading with downside bias is in store, so selling the pair on recovery for stronger correction to 109.48/52 is favoured.
Offers have been lowered to 110.10/20 with some stops above 110.30.
Bids are noted at 109.80-70 with stops below 109.45.

On the data front, U.S. will release housing starts, building permits and Redbook sales. St Louis Fed President Bullard will speak at ECB Forum in Sintra, Portugal at 11:00GMT.

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AceTraderFx Jun 20: Intra-Day Market Moving News and Views -USD/JPY

Intra-Day Market Moving News and Views
20 Jun 2018 02:30GMT

USD/JPY - 110.09.. Dlr pares yesterday's selloff from 110.58 (AUS) to a 1-week low of 109.55 due to active safe-haven yen buying on escalation of U.S./China trade tensions, however, rebound in U.S. yields together with recovery in U.S. stocks helped price to stage a short-covering rose to 110.10 in New York afternoon, the pair later edged higher to 110.14 ahead of Tokyo open.

Looks like said Tuesday's 109.55 low would hold from here n bring choppy sideways trading, however, market woe on global trade tensions should prevent strong gain, so dlr should find respite in Asia but if European stocks are in the black, another round of yen-buying may emerge and knock dlr lower.
Offers are tipped at 110.10/20 with stops above 110.30, some bids are noted at 109.80-70 with stop reported below 109.50.

U.S. eco. calendar is very light with existing home sales being the only data due out at 14:00GMT.
Pay attention to speeches by Fed officials starting with Fed chairman J. Powell who will deliver speech at ECB Forum on Central Banking in Portugal at 13:30GMT, then St. Louis Fed's Bullard also at 13:30GMT.

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AceTraderFx Jun 21: Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
21 Jun 2018 03:30GMT

EUR/USD - 1.1566.. The single currency trades narrowly but with a soft bias in Asia as intra-day rise in usd/yen has led to broad-based usd's strength.

Despite y'day's brief dip to session lows of 1.1537 in European morning on euro-negative comments by ECB's Nowotny, buying interest abv Tue's 2-1/2 week trough at 1.1531 quickly lifted the pair n price ratcheted higher to 1.1600 in NY morning after midlly hawkish comments by ECB President Draghi, however, euro later pared intra-day gain n drifted lower in NY afternoon.

Although euro's rebound fm 1.1537 suggests choppy trading abv 1.1531 low wud continue, anticipated usd's broad-based strength shud pressure price, so selling euro on recovery is still favoured. Offer are tipped at 1.1580/90 n more abv with stops abv 1.1800. Bids are noted at 1.1540-30 with stop below 1.1510 (there is market chatter of option defence at 1.1500).

After the 3-day ECB Forum in Portugal which some heavy-weight speakers (cenbankers n senior officials))did cause a stir in the market. Today, we have Eurogroup meeting in Luxembourg where ECB's Draghi will participate in the meeting too.

On the eco. data front, France will kick off with business climate n later in NY morning, EU will release consumer confidence. Pls refer to our EI page for times of speeches by key ECB officials.


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