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

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AceTraderFx Aug 20: Intra-Day News and Views & data to be released today - EUR/USD

Intra-Day Market Moving News and Views
Update Time: 20 Aug 2019 03:00GMT

EUR/USD - 1.1087.. Euro recovers in quiet Asian morning after Monday's attempt to trade above the 1.1100 handle failed as the greenback regained traction in New York afternoon session following Boston Fed Rosengren's hawkish comments (see previous update).

Although the pair moved narrowly in subdued Asian morning on Monday and then climbed to 1.1113 at London midday due to cross-buying in euro vs yen, gbp and chf, price later fell to session lows of 1.1077 on intra-day broad-based usd's gain.
As yesterday's fall from 1.1113 to 1.1077 suggest correction from Friday's 2-week trough at 1.1067 has ended, recent decline would resume later today after choppy consolidation is over.
Offers are tipped at 1.1100/10 with stops above 1.1130 and bids are noted at 1.1080-70 with stops reported below 1.1060.

Pay attention to latest political situation in Italy later today where PM Conte will address the Senate over the political crisis sweeping the government after his coalition partner the far-right League filed a no-confidence motion in the administration. On the data front, the EU will release Apr construction output at 09:00GMT.

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AceTraderFx Aug 21: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 21 Aug 2019 03:00GMT

USD/JPY - 106.47.. Dlr continues to move in familiar territory after swinging broadly sideways in directionless Tuesday's session. Despite moving narrowly in Asia yesterday, failure to re-test Monday's 106.69 high prompted selling on the dlr, price later hit session lows of 106.17 in New York due partly to falling U.S. yields before a brief recovery to 106.46 and then retreated to 106.20 ahead of NY close.

Although price has rebounded ahead of Tokyo lunch session on a boot of yen selling in Asia, sideways swings are expected to continue. Offers are tipped at 106.60/70 with stops above there while bids are noted at 106.25-15 with stops below 106.00.

U.S. eco. calendar is very light with existing home sales for Jul, however, pay attention to release of last FOMC minutes at 18:00GMT which is likely to move price a bit

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AceTraderFx Aug 22: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 22 Aug 2019 03:00GMT

USD/JPY - 106.45.. The pair continued to move broadly sideways on Wednesday in relatively narrow range of less than half a yen. Despite extending erratic rise from 106.17 (Tuesday) to 106.64 in New York afternoon after release of less dovish FOMC minutes which had lifted U.S. yields, failure to penetrate this res at Tokyo open today triggered broad-based yen buying and pushed price back down to 106.45.

Dlr's intra-day retreat suggests further choppy trading below this week's high at 106.69 (Monday) would continue with downside bias, however, price is likely to remain confined inside early broad range of 106.97-105.66 as market awaits key speech from Fed Chief J. Powell at Fed's annual global symposium at Jackson Hole tomorrow, traders are keeping their powder dry for this event.
For now, offers are tipped at 106.65/75 with stops above 107.00/10.
Bids are noted at 106.20-10 with stops below 106.00.

Ahead of Friday's J. Powell's speech, pay attention to release of U.S. eco. data later in the day starting with initial weekly jobless claims, Markit mfg n services PMIs n Kansas City mfg index. Also we have Minneapolis Fed President Kashkari (2019 non-voter n a dove) speaking at 18:30GMT.

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AceTraderFx Aug 23: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 23 Aug 2019 03:00GMT

USD/JPY - 106.54.. The pair continued to trade sideways again in directionless Thursday's session and price moved in tandem with intra-day swings in U.S. yields as traders were keeping their powder dry ahead of key Fed Powell's Jackson Hole speech later today at 14:00GMT.

Looking at the hourly chart, dlr's range this week has been just shy of 50 pips in last 4 sessions and this may make technical traders complacent as they probably think this week's range trading price action would continue. Therefore, fundamental players are holding high hopes for Fed's J. Powell to express clearly his 'latest' interest rate view of whether it deems fit for the Fed to cut its rate at next FOMC meeting in late September or will continue to defy Trump's repeatedly calls to lower rate and stick to its 'data-dependent' stance.
For now, offers are tipped at 106.60/70 with fairly large stops touted above 107.00/10 whilst bids are noted at 106.25-15 with stops below 106.00, more stops are reported below 105.60.

T.G.I. F. for Asian traders, ahead of Powell's speech, we have several Fed officials speaking at various times (see our EI section for details) and the only U.S. data due out at the same time when Powell begins to speak is new home sales for July.

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AceTraderFx Aug 26: Intra-Day News and Views & data to be released today - EUR/USD

Intra-Day Market Moving News and Views
Update Time: 26 Aug 2019 03:00GMT

EUR/USD - 1.1146.. The single currency pared intra-day gain n retreated from Monday's 12-day high of 1.1164 (Australia) to 1.1137 in early Asian trading. Although price extended Friday's rally n climbed briefly above New York high at 1.1153 to 1.1164 due to initial selloff in usd/yen and usd/chf, intra-day rebound in usd/yen quickly knocked price lower, suggesting range trading is in store ahead of European open.

As euro's impressive rally from 1.1052 to 1.1153 due to usd's broad-based weakness on Friday suggests further choppy trading above August's 26-month bottom at 1.1052 would continue, outlook remains supportive for price to head to 1.1180/90 after consolidation but overbought condition is likely to cap euro at 1.1220/30 today.
Bids are noted at 1.1130-20 with stops touted below 1.1110.
Offers are tipped at 1.1160/70 with stops above 1.1190.

Today is the final day of the 3-day G7 leaders' summit in France.
On the data front, pay attention to release of key German Ifo business climate, current conditions and expectations, street forecasts are looking for weaker readings from previous readings due to recent recessions fears in Germany, however, euro bulls should buy eur/usd on dips.

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AceTraderFx Aug 27: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 27 Aug 2019 03:00GMT

USD/JPY - 105.72.. Dlr pares yesterday's gain after staging an impressive rally from a 33-month bottom at 104.46 (AUS) to as high as 106.41 in New York following easing of Sino-China trade tensions (see earlier updates for details) triggered unwinding of recent long yen positions.

Having said that, as dlr's sideways move in subdued New York afternoon session ended with the pair falling in Asian morning today despite recovery in U.S. stocks and ended the day higher of just more than 1% in the Dow, S&P 500 and the NASDAQ, suggesting 1st leg of correction from 104.46 has ended and price may head back to 105.21/26 (61.8% r n last Fri's low respectively). Therefore, selling dlr on recovery is favoured but day traders may buy dlr on dips.
Offers are tipped at 105.90/00 n more above with stops above 106.45.
Bids are noted at 105.60-50 with stops below 105.10.

U.S. will release a slew of eco. data starting with monthly home price, CaseShiller home price indices, consumer confidence and Richmond Fed mfg index.

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AceTraderFx Aug 28: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 28 Aug 2019 03:00GMT

USD/JPY - 105.80.. Dlr is in holding pattern after staging an impressive rally from Monday's 33-month bottom to as high as 106.41 on active unwinding of recent long yen positions due to easing of Sin-U.S. trade tensions, however, the pair pared (pun intended) Monday's gain n retreated to 105.60 at European open y'day on profit taking, despite staging a rebound to 106.06 in New York morning as usd's found renewed strength, price later retreated in tandem with falling U.S. yields to 106.67.

As decline from 106.41 to 105.60 signals the 1st leg of correction from 104.46 has ended, choppy sideways swings with downside bias is seen for weakness to 105.26-105.21 (being last Friday's low n 61.8% r respectively), selling dlr on intra-day recovery is favoured but profit should be taken on decline.
Offers are tipped at 105.90/00 with stops above 106.20 and more above 106.50.
Bids are noted at 105.70-60 with stops below there.

Eco. calendar in the U.S. is very light with MBA mortgage application being the only data due out.
We have Richmond Fed's Barkin speaking to a group of entreprenurs later at 16:20GMT.

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AceTraderFx Aug 29: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 29 Aug 2019 03:00GMT

USD/JPY - 105.87.. Despite yesterday's swings in New York session, the pair is currently roughly where is was around this time on Wednesday. Although price met buying interest at Asian open yesterday n moved narrowly in European morning, rebound in U.S. yields later lifted price to session highs of 106.22 in New York afternoon, price later ratcheted lower on lack of follow-through buying and weakened to 105.86 in Asia as U.S. yields fell again.

Although dlr's retreat from 106.22 suggests further choppy trading below this week's high at 106.41 (Monday) would continue, as long as reaction low at 105.60 (Tuesday) holds, another bounce to 106.10/20 may be seen but above 106.22 needed to retain near term upside bias for re-test of 106.41 later today.
Offers are tipped at 106.00/10 with stops above 106.45.
While bids are noted at 106.70-60 with stops below there.

U.S. will release a slew if eco. data starting with important prel. Q2 GDP, core PCE prices, PCE prices, goods trade balance, wholesale inventories, initial jobless claims, all due out at 12:30GMT, then later pending home sales.

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AceTraderFx Aug 30: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 30 Aug 2019 03:30GMT

EUR/USD - 1.1045.. The single currency remained on the back foot in Asian trading Friday after yesterday's volatile trading. Despite resumption of this week's fall to 1.1057 in New York morning after IMF Chief Largard (who is widely expected to replace ECB Presisent Draghi in November, 2019) said in written answers to the European Parliament's committee on economic affairs ECB has room to cut rates if needed, price briefly jumped to 1.1092 on comments by ECB's Knot said he sees no need to resume QE right now but only to tumble to 4-week trough of 1.1043 on broad-based usd's strength.

As yesterday's break of last Friday's 1.1052 suggests recent erratic has resumed, price is en route to re-test August's 26-month trough at 1.1028 and stops below option defence at the 'psychological' 1.1000 level is not in focus.
Offers have been lowered to 1.1075/85 and more above with stops above 1.1100.
Bids are noted at 1.1030-20 with large stops below 1.1000.

Ahead of release of key U.S. core PCE data, we have data dump from the euro area countries during European morning, please refer to our EI section for details.

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AceTraderFx Sept 02: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 02 Sept 2019 03:00GMT

EUR/USD - 1.0988
Euro's selloff on Friday and then break of previous August's 1.1028 low (now res) to a fresh 27-month trough at 1.0964 (New York) suggests medium term decline has once again resumed, subsequent rebound would bring range trading before price heads toward 1.0935, however, oversold condition should keep the pair above 1.0900/10.

On the upside, only above 1.1028 would indicate temporary trough made and yield stronger retracement to 1.1060, then 1.1092.

Today is PMI day in the euro area countries, Italy will kick off with Markit mfg PMI, then the same from France, Germany n the EU. We have several ECB officials schedued to speak at the ECB Legal Conference 2019 "Building bridges" central banking law in an interconnected world" in Frankfurt, please refer to our EI section for details.

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