AceTraderFx Jun 9: Intra-Day Market Moving News & Views & data to be released today

[acetraderfx]

Intra-Day Market Moving News and Views

09 Jun 2014 01:41GMT

USD/JPY - 102.54 ... Despite last Fri's brief but strong retreat to 102.12 after the release of U.S. non-farm payrolls data, the greenback subsequently rebounded to 102.61 and then extended marginal gain to 102.65 in Asian morning today b4 retreating. Bids are now located at 102.45-40 and more buying interest is noted at 102.30-25 with stops only seen below 102.10. On the upside, some offers are tipped at 102.65 and 102.75-80 with stops are reported above 102.80 and 103.00.

On the data front, Japan's gross domestic product (GDP) grew an annualized 6.7% in the first three months of the year, faster than economists' forecast of 5.6% n a preliminary 5.9%. Besides, Japan reported a narrower current account surplus, 187.4 billion yen versus economists' forecast of 322.5 billion yen.


Data to be released next week:

Japan GDP revised, consumer confidence index, economy watch, euro zone Sentix index, Canada house starts. Market in Germany, France and Switzerland will be closed on Monday.

Australia NAB business confidence, NAB business conditions, invest housing finance, housing finance finance, China PPI, CPI, unemployment rate, retail sales, France industrial output, Italy industrial output, GDP, U.K. industrial output, manufacturing output, U.S. wholesale inventories, wholesale sales on Tuesday.

Australia consumer sentiment, U.K. average earnings, claimant count unemployment change, ILO unemployment rate, U.S. Federal budget on Wednesday.

Japan machinery orders, U.K. RICS housing survey, Australia unemployment rate, employment, France CPI, current account, euro zone industrial production. U.S. retail sales, export prices, import prices, business inventories, Canada new housing price index, capacity utilization on Thursday.

Japan capacity utilization, industrial output, France non-farm payroll, China retail sales, Germany CPI, HICP, Italy CPI, euro zone employment, Canada manufacturing sales, U.S. University of Michigan sentiment on Friday.

 

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AceTraderFx Jun 10: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views EUR/USD, USD/JPY

10 Jun 2014 01:48GMT

EUR/USD - 1.3592 ... Despite yesterday's brief bounce to 1.3669 at European opening, selling interest quickly emerged below last Friday's high at 1.3677 n euro ratcheted lower to as low as 1.3582 in New York morning b4 stabilising. Some offers are tipped at 1.3620 n 1.3640 whilst some bids are located at 1.3585-80 n more at 1.3570 with stops only seen below 1.3550.

There is no major economic data coming out from the eurozone.

10 Jun 2014 01:26GMT
USD/JPY - 102.38.. State from Japna's ECONMIN Amari says "wants to settle issue of corporate taxreform this week with LDP tax panel head"; "views are split on whether to clarify how much n when to cut corporate tax".


Last night statement from the Fed's Rosengren said: 'urges predictable, transparent reductions in portfolio in years ahead to avoid financial risks; floats "seamless continuation" of QE tapering to reduce balance sheet; Fed could specify percentage of portfolio that would run off, increase that depending on economy; history shows policy 'exits' can be unsettled; Fed should focus on financial stability; backs raising IOER, doing reverse repos when time comes to tighten policy; holding mbs could help fed contain any future housing market bubbles.'


Data to be release on Tuesday:

Japan Tertiary industry index, machine tools orders, China PPI, CPI, Australia NAB Business conditions, NAB Business Confidence, investing housing finance, housing finance, Switzerland unemployment rate, retail sales, industrial output, France industrial output, Italy industrial output, GDP, U.K. BRC retail sales, manufacturing output, industrial output, NIESR GDP estimate, U.S. Redbook, wholesale sales, wholesale inventories.

 

[acetraderfx]

AceTraderFx Jun 11: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views EUR/JPY & USD/JPY

11 Jun 2014 02:16GMT

EUR/USD - 1.3525 ... The single currency fell sharply from 1.3602 to 1.3543 yesterday and then 1.3524 in Asian morning today due to active cross selling in euro especially versus the Japanese yen (eur/jpy fell fm 139.43 to 138.46 n then 138.37 today). Offers are now tipped at 1.3545-60 n more at 1.3580. On the downside, stops at 1.3520 n 1.3500 are now in focus.

Bloomberg news reported y'day after a meeting hosted by Swedish Prime Minister Fredrik Reinfeldt at his country residence in Harpsund, German Chancellor Angela Merkel and U.K. Prime Minister David Cameron were still at loggerheads over the candidacy of Jean-Claude Juncker to head the European Commission. Merkel urged her fellow leaders to proceed in the "European spirit" to enable compromise. EU President Herman Van Rompuy signaled the choice of the next commission president will be part of a package of appointments to high European posts, increasing the scope for a negotiated deal with the U.K.

11 Jun 2014 01:50GMT

USD/JPY - 102.34 ... The greenback fell to 102.21 y'day due to active cross buying in Japanese yen on the selloff in Nikkei-225 index together with speculation that the Bank of Japan will refrain from expanding stimulus at a policy meeting this week. Offers are now tipped at 102.45-50 n more at 102.60 whilst mixture of bids n stops is located at 102.20 with more stops seen below 102.10 n 102.00.

BOJ Governor Haruhiko Kuroda will speak at a press conference following the central bank decision on June 13. A survey by Bloomberg polled June 3 to 6 showed that 9% of the economists expect additional monetary stimulus in July, down from 38% in the previous survey.


Data to be released on Wednesday:

Australia Westpac consumer confidence, U.K. average weekly earnings, claimant count unemployment change, ILO unemployment rate, U.S. Federal budget

 

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AceTraderFx Jun 12: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views USD/JPY

12 Jun 2014 01:43GMT

USD/JPY - 102.00 ... The greenback remained under pressure after yesterday's cross-inspired weakness to 101.87 due to renewed risk aversion. Nikkei-225 index currently drops by 195 points to 148734 following the retreat in global stock markets. Offers are now tipped at 102.10-20 and more at 102.30-40.
On the downside, mixture of bids and stops is located at 101.80.

12 Jun 2014 00:23GMT

Statement from Japan govt. to cut corporate tax below 30% within a few years, citing a source familiar with the matter.
Reuters reported corp. tax in Japan is nearly 36% for large companies operating in Tokyo. Private-sector members of the govt.'s top economic and fiscal council have proposed cutting the rate to 25% to put it in line with international standards.


Data to be released on Thursday:

New Zealand RBNZ rate decision, U.K. RICS housing survey, Australia unemployment rate, Japan machinery orders, BoJ monetary policy meeting (12th-13th June), France CPI, current account, euro zone industrial production, U.S. jobless claims, retail sales, import prices, export prices, business inventories, Canada new housing price index.

 

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AceTraderFx Jun 13: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

13 Jun 2014 01:56GMT

USD/JPY - ... Despite staging a brief bounce to 102.14 yesterday, the greenback ratcheted lower in New York and fell to an intra-day low of 101.61 on speculation that continued speculation that the BoJ will refrain from expanding stimulus measures at Fri's monetary meeting, however, short-covering in late NY lifted the pair to 101.82 in Asian morning. Bids are located at 101.65-60 whilst some offers are tipped at 102.00-10.

BOJ is likely to announce its rate decision at 02:30-03:30GMT. Most economists predict no policy change. The BOJ has kept its policy of buying about 7 trillion yen ($68.8 billion) of government bonds a month since April 2013.

Nikkei-225 index currently drops by 95 points to 14877, following the sell off in U.S. stock markets.


Data to be released on Friday:

Bank of Japan rate decision, Japan industrial production, China industrial output, retail sales, Germany CPI, HICP final, Italy consumer prices final, CPI, euro zone employment, trade balance, U.S. PPI, University of Michigan consumer sentiment.

 

[acetraderfx]

AceTraderFx Jun 16: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

16 Jun 2014 01:45GMT

USD/JPY ... Despite dlr's rebound from last Thursday's low at 101.61 to 102.14 on Fri, the greenback ratcheted lower to 101.85 in Asian morning as Nikkei-225 index dropped by 99 points to 14998 due to geopolitical worries as violence escalated in Iraq, and together with Prime Minister Shinzo Abe's pledge to cut corporate taxes last week failed to lift investor sentiment.
Offers are tipped at 101.95-00 and 102.10. On the downside, bids are located at 101.70-65 with stops building up below 101.60 and 101.40.

Investors are now focusing on this week's important event that whether the Federal Reserve will provide new hints or not on the timing of interest rate hikes when it concludes its two-day policy meeting on Wednesday.
U.S. dollar may rally if there is any hawkish comments by Fed Chair Janet Yellen.


Data to be released this week:

U.K. Rightmove house prices, euro zone inflation reports, U.S. New York Fed manufacturing, industrial output, New long-term TIC flow, capacity utilization, NAHB housing market index on Monday.

Japan BoJ meeting minutes, RBA meeting minutes, Switzerland producer/import price, Italy trade balance, U.K. CPI, PPI, RPI, Germany ZEW current conditions, ZEW economic sentiment, U.S. CPI, housing starts, building permits on Tuesday.

New Zealand current account, Japan exports, imports, trade balance, China house prices, U.K. BoE MPC vote outcome, Switzerland ZEW investor sentiment, Canada wholesale trade, U.S. Current account, FOMC rate decision on Wednesday.

New Zealand GDP, Japan Tankan, U.K. Retail sales, CBI trends, U.S. Consumer confidence on Thursday.

Germany producer prices, euro zone current accounts, Italy industrial orders, U.K. PSNCR, Canada CPI, retail sales on Friday.

 

[acetraderfx]

AceTraderFx Jun 19: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views USD/JPY

19 Jun 2014 01:54GMT

Despite y'day's brief rise to 102.35, the greenback retreated strongly to 101.88 on dlr's broad-based weakness after FOMC rate decision n dovish comments fm Fed Chair Janet Yellen, however, the rally in Nikkei-225 (now rallies by 214 points) limited the pair's downside somewhat. Offers are tipped at 102.10-15 n more at 102.30. On the downside, some bids are located at 101.85-80 n 101.70-60 with stops building up below 101.60.

A Bank of Japan report showed earlier that non-financial companies' holdings of cash and deposits rose 4.1 percent to 232 trillion yen ($2.3 trillion) at the end of March, while they increased borrowing from private banks at the slowest pace since the final quarter of 2012. Households kept more than half of their assets in cash and deposits.


Statement from BOJ board member Morimoto says:-

Japan's economy continues to recover moderately as a trend;
Japan's economy likely to sustain positive cycle of output, income and expenditure;
Effect of BOJ's monetary easing likely to strengthen ahead as inflation expectations heighten;
Creating sustainable fiscal structure a crucial prerequisite to achieve sustained economic growth in Japan;
Overseas economic growth likely to heighten ahead as recovery in advanced economies gradually spreads to emerging nations;
Must watch carefully how risk of prolonged disinflation, developments over ukraine could affect euro zone economies;
Effect of sales tax hike on consumption likely to recede from around summer onward;
Exports likely to rebound, albeit moderately, as overseas growth picks up, though risks of fluctuations exist;
Expect Japan's inflation to gradually accelerate as improvement in corporate revenues leads to rises in jobs, wages, capex.


Data to be released on Thursday:

New Zealand GDP, Japan leading economic index, Switzerland SNB rate decision, U.K. retail sales, CBI trends, U.S. jobless claims, leading index, Philly Fed business index.

 

[acetraderfx]

AceTraderFx Jun 20: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

20 Jun 2014 02:03GMT

USD/JPY - ... The greenback recovered briefly after retreating from Wednesday's high at 102.35 to 101.74 yesterday, suggesting further sideways trading would be seen as there is no major economic data coming out from Japan and U.S. Offers are now tipped at 102.00-05 whilst some bids are located at 101.75 and 101.65 with stops seen below 101.60.

U.S. dollar is likely to move narrowly versus the Japanese yen as currency volatility fell to a record amid prospects a sluggish U.S. economy will prompt the Federal Reserve to hold interest rates near zero for longer.
Bank of Japan Governor Haruhiko Kuroda will speak later today.

Data to be released on Friday:

Germany producer prices, euro zone current account, Italy industrial orders, U.K. PSNB, PSNCR, Canada CPI, retail sales.

 

[acetraderfx]

AceTraderFx Jun 23: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

23 Jun 2014 02:13GMT

USD/JPY - ... Despite last Fri's cross-inspired rebound to 102.20 in part due to the gain in Nikkei-225 index futures following the rise in U.S. stock markets, the greenback retreated briefly as offers are reported at 102.20 n more at 102.30-35. On the downside, bids are located at 101.85-80 with stops building up below 101.70 n 101.60.

The Official Monetary and Financial Institutions Forum, a London-based research group, issued a report last week that concluded central banks were buying equities to compensate for lost revenues on their reserves amid zero interest rates. The report also showed global public investors, including sovereign wealth and pension funds as well as central banks, have bought at least $1 trillion of publicly quoted equities in recent years.

BoJ's governor Kuroda will speak in Tokyo at 06:00GMT.


23 Jun 2014 01:48GMT
AUD/USD - ... The Australian dollar jumped to 0.9430 after the release of much stronger-than-expected China's HSBC manufacturing PMI data which came in at 50.8 versus the economists' forecast of 49.7 n previous reading of 49.4.


Data to be released next week:

China HSBC manufacturing PMI, France Markit manufacturing PMI, Markit service PMI, Germany Markit service PMI, Markit manufacturing PMI, euro zone Markit manufacturing PMI, Markit service PMI, U.S. Markit manufacturing PMI, U.S. existing home sales on Monday.

Switzerland trade balance, Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.S. consumer confidence, new home sales on Tuesday.

Germany Gfk consumer sentiment, Italy retail sales, consumer confidence, U.K. nationwide housing price, CBI distributive trades, U.S. PCE, durable goods, GDP, Markit service PMI on Wednesday.

France business climate, U.S. initial jobless claims, PCE price index, core PCE, personal consumption, personal income, Switzerland SNB quarterly bulletin on Thursday.

New Zealand trade balance, exports, imports, U.K. Gfk consumer confidence, Japan CPI core Tokyo, France consumer spending, GDP, Switzerland KOF indicator, Italy business confidence, euro zone business climate, consumer confidence, economic sentiment, industrial sentiment, service sentiment, Germany CPI preliminary, HICP preliminary, Canada producer prices, University of Michigan consumer sentiment on Friday.

 

[acetraderfx]

AceTraderFx Jun 24: Intra-Day Market Moving News & Views & data to be released today

Intra-Day Market Moving News and Views

24 Jun 2014 01:37GMT

USD/JPY - ... Despite last Fri's brief rebound from 101.74 to 102.20, U.S. dollar ratcheted lower to 101.82 yesterday due to the weakness in Nikkei-225 index futures in Chicago yesterday. Nikkei-225 index currently dropped by 92 points to 15277. Offers are now reported at 101.90-00 and more at 102.10-20. On the downside, mixture of bids and stops is located at 101.70 and 101.60.

Trading is expected to be thin today as expectations for price swings in the dollar against the Japanese yen fell to a record low due to signs of an uneven U.S. economic recovery fueled bets the Federal Reserve will keep borrowing costs at unprecedented lows.

Kyodo news reported earlier on June 19 that Japan's cabinet may approve the Prime Minister Shinzo Abe's growth plan today.


Yesterday, White House said 'Obama spoke to Russian President Putin on Monday, saying Russia will face additional costs if there are no concrete actions to de-escalate Ukraine situation.'


Data to be released on Tuesday:

Switzerland trade balance, Germany Ifo business climate, Ifo current conditions, Ifo expectations, UK mortgage approvals, U.S. consumer confidence, new home sales.