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

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

Intra-Day Market Moving News and Views
Update Time: 23 Mar 2020 04:30GMT

USD/JPY - 110.10... Although the greenback retreated from Friday's Asian high at 111.36 to session lows at 109.34 on profit-taking from usd's continued strength over last week, price erased its losses and rose to a 3-week peak at 111.50 in New York afternoon on Friday. However, lack of follow-through buying knocked price back down and the pair retreated to 110.01 in Tokyo morning today due partly to a drop in U.S. stock futures.

Dollar's retreat from Friday's 3-week peak at 111.50 signals upmove from March's 3-1/2 year trough at 101.19 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.84.
Offers are now seen at 110.40/50 and more above at 110.70/80 with stops building up above there whilst initial bids are noted at 109.50/60.

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AceTraderFx Mar 24: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 24 Mar 2020 04:30GMT

USD/JPY - 110.30... The greenback proved quite tricky to trade yesterday as despite dropping from 111.25 in New Zealand to session lows at 109.67 at European open due to a fall in U.S. Treasury yields. However, the pair then erased its losses and rallied to a 1-month peak at 111.59 in New York morning on usd's broad-based strength before retreating sharply in Asian morning today on profit-taking to 110.23.

Dollar's selloff from yesterday's 1-month peak at 111.59 suggests upmove from March's 3-1/2 year trough at 101.19 has made a temporary top there and consolidation with downside bias remains for a stronger retracement to 109.67, then 109.32.
Offers are now seen at 110.50/60 and more above at 110.70/80 with stops building up above there whilst initial bids are noted at 109.20/30.

Pay attention to the release of US manufacturing and services PMI at 13:45GMT.
Street forecasts are for a sharp drop to 42.8 and 42.0 from previous readings of 50.7 and 49.4 respectively.

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AceTraderFx Mar 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 26 Mar 2020 03:30GMT

EUR/USD - 1.0889
The single currency's brief break of Tuesday's high at 1.0887 to 1.0893 suggests upmove from Monday's near 3-year trough at 1.0637 has once again resumed and further gain to 1.0956 would be seen after minor consolidation, however, near term loss of momentum would keep price below resistance at 1.0981 and yield a much-needed retreat early next week.

On the downside, only below 1.0786 would indicate a temporary top has been made and risk stronger retracement to 1.0747, then 1.0721 before prospect of rebound.

Pay attention to release of German Gfk consumer sentiment at 07:00GMT.
Street forecast is for a drop to 7.1 from previous reading of 9.8.

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

Intra-Day Market Moving News and Views
Update Time: 26 Mar 2020 04:30GMT

USD/JPY - 110.59... The greenback proved quite tricky to trade yesterday as despite dropping to session lows at 110.76 in Asian morning, price gained to 111.56 in early European morning, then ratcheted higher to session highs at 111.67 on usd's broad-based strength. However, lack of follow-through buying triggered profit-taking and price tumbled to 110.47 in Asian morning today before staging a recovery on news that the U.S. Senate will begin voting on the usd 2 trillion coronavirus economic stimulus bill.

Dollar's selloff from yesterday's high at 111.67 after failure to break Tuesday's 4-week peak at 111.71 signals recent upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 110.09, then 109.80/90. Offers are now seen at 110.90/00 and more above at 111.10/20 with stops building up above there whilst initial bids are noted at 109.60/70.

US will release its final GDP figures at 12:30GMT. Street forecasts for GDP and GDP deflator are unchanged at 2.1% and 1.3% respectively.

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

Intra-Day Market Moving News and Views
Update Time: 27 Mar 2020 04:30GMT

USD/JPY - 108.34... The greenback remained under pressure in Asia and Europe yesterday on usd's broad-based weakness and intra-day decline accelerated in New York after data showed U.S. jobless claims surged past the 1982 record and hit a historic high of more than 3 million and hit an intra-day low at 109.22 in New York afternoon. The pair then met renewed selling at 109.71 in Australia and tumbled to 108.30 in Asian morning on usd's continued weakness.

Dollar's intra-day fall below yesterday's low at 109.22 signals decline from Tuesday's 1-month peak at 111.71 remains in progress and further weakness to 108.20 would be seen after consolidation. Offers are now lowered to 108.70/80 and more above at 108.90/00 with stops building up above there whilst initial bids are noted at 107.90/00.

Pay attention to the release of U.S. personal income and personal spending at 12:30GMT. Street forecasts are 0.4% and 0.2% vs previous readings of 0.6% and 0.1% respectively.

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AceTraderFx Mar 31: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 31 Mar 2020 04:30GMT

EUR/USD - 1.1029.. The single currency pares intra-day loss on minor short covering ahead of Tokyo lunch break after extending decline from yesterday's high of 1.1143 (AUS) to 1.1085 in Asian morning, intra-day spike down to said Asian low was attributed to a sudden bout of usd demand.

There has been market chatter in last few sessions of volatile trading in NY morning later today due to purchase of usd by fund managers to re-balance porfolio for quarter end valuation at currency fixing at 15:00GMT and this may keep euro on the back foot. Therefore, the fall from Friday's 1.1147 high to 1.0985 today confirms near term upmove from last Mon's near 3-year bottom has made a temp. top and choppy consolidation with downside bias is in store. Offers are noted at 1.1045/55 n more at 1.1070 while some bids are touted at 1.0985/75 with stops below 1.0950.

We have data dump from euro area countries during European morning session, pleases refer to to Economic Indicators page for details and pay attention to German unemployment data at 07:55GMT.

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AceTraderFx Apr 01: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 01 Apr 2020 04:30GMT

USD/JPY - 107.71.. Dlr swings wildly in Asia on the first trading day in March. Despite initial break of yesterday's low at 107.47 (New York) to 107.26 after tripping stops below there, buying interest (Japanese importers) emerged and quickly lifted price to 107.94 before easing.

As the decline from yesterday's 108.72 to 107.26 signals recovery from Monday's 9-day low has ended, downside bias remains for decline from last week's 107.71 peak to head to 106.80/90 after consolidation, weakening of downward momentum should keep price above 106.45 ahead of release of Friday's key jobs data and in particular, the unemployment rate.
Offers are tipped at 107.90/00 with some stops noted above 108.10 whilst bids are noted above 107.40-30 with stops reported below 107.10, then below 107.00.

On the data front, U.S. will release MBA mortgage applications, Markit mfg and services PMIs and construction spending.

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

Intra-Day Market Moving News and Views
Update Time: 02 Apr 2020 04:30GMT

USD/JPY - 107.51.. Dlr pares recent losses in early Asian trading after hitting a 2-week trough of 106.93 in New York afternoon on Wed as renewed weakness in the Dow n falling Treasury yields (benchmark 10-year fell from March's 1.279% to a 3-week low of 0.571%) led to safe-haven yen buying, however, the pair caught a bid at Tokyo open and climbed to 107.56.

Intra-day rebound on broad-based firmness in the greenback suggests recent decline from March's 111.71 peak suggests temp. low has possibly been made n above 107.65 (New York high) would bring stronger retracement towards 107.94 (Wednesday's top). Bids are noted at 107.30-20 n more at 107.10/00 with stops below 106.90 while offers are tipped at 107.55/65 with stops above there, more offers are touted at 107.90/95 with stop above 108.00.

U.S. will release a slew of eco. data (see EI page for details), however, traders are eagerly paying attention to release of the much-awaited initial weekly jobless claims at 12:30GMT, last week's reading came to a 3.28 million, street forecasts range from 1.5-5.25 million, if actual comes in higher than prev. week, may see a brief dips due to safe-haven buying but market will turn to usd buying and will then lift usd/yen.

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AceTraderFx Apr 03: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 03 Apr 04:30GMT

USD/JPY - 107.88.. Despite remaining on the back foot initially on Thursday and fell from Asian 107.56 high to session lows of 107.03 after blowout U.S. initial weekly jobless claims which hit a all-time record high of 6.65 million vs previous week's 3.28 million, the greenback shrugged off this horrific number and moved higher due to renewed safe-haven usd demand plus rebound in U.S. stocks, the pair later jumped to 108.09, then 108.20 ahead of Tokyo open today b4 easing on profit taking.

Although yesterday's rally from 107.03 to 108.20 today suggests decline from last week's 111.71 peak and made a temp. low at 106.93 (Wednesday) n further sideways swings are in store ahead of release of key U.S. jobs data, selling dlr on intra-day rise is still favoured as this week's high at 108.72 (Tue) should cap upside and yield another fall.
Below 107.55/65 would be 1st signal recovery over n head back towards 106.93.
Bids are noted at 107.85/80 and more below with stops touted below 107.50 while offers are tipped at 108.15/20 with some stops above there, however, more selling interest is tipped at 108.60/70 with stops above 118.80.

U.S. will release the key jobs data at 12:30GMT, then later Markit services PMI followed by ISM non-mfg PMI. Market will largely ignore March unemployment rate as the cut-off date was in the week of Mar 12m, therefore, would not reflect the horrendous weekly jobless claims readings in last 2 consecutive weeks. April's unemployment may well jump to near double digit but we have to wait.

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AceTraderFx Apr 06: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 06 Apr 2020 04:30GMT

EUR/USD - 1.0813.. The single currency gains respite in subdued Asian trading after having fallen for 5 consecutive days last week from 1.1143 (Monday) to as low as 1.0771 on Fri due to renewed usd's broad-based strength.

As euro's decline after staging an impressive rally from March's near 35-year bottom at 1.0637 to 1.1147 earlier suggests said correction, although strong, has ended n selling the pair on intra-day recovery for further weakness towards 1.0747 after consolidation is favoured.
Offers are tipped at 1.0825/35 and more above with stops above 1.0860 whilst bids are noted at 1.0800/1.0790 with stops below 1.0770.

Following release of very downbeat PMIs from the euro area countries on Friday, the only eco. data due out today is Germany's industrial orders at 06:00GMT, one can expect the figure to be dismal n hence another round of euro selling.

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