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

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AceTraderFx July 14: Intra-Day News and Views & data to be released today- USD/JPY

Intra-Day Market Moving News and Views
Update Time: 14 July 2020 05:30GMT

USD/JPY - 107.19... Although the greenback edged lower to 106.79 in Asia yesterday, price rallied to 107.31 in New York morning on cross-selling in jpy before retreating to 107.15 on profit-taking. The pair then gained to 107.36 in Tokyo morning today on usd's broad-based strength before weakening again.

Usd's rally Friday's low at 106.65 to 107.36 today suggests decline from July's peak at 108.16 has ended there and consolidation with upside bias would be seen for gain to 107.78.
Bids are now seen at 107.00/10 and more below at 106.90/00 with stops building up below there whilst initial offers are noted at 107.90/00.

Pay attention to U.S. inflation data at 12:30GMT. Street forecasts for CPI mm and yy are 0.5% and 0.6% vs previous readings of -0.1% and 0.1% respectively.

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AceTraderFx July 16: Intra-Day News and Views & data to be released today- USD/JPY

Intra-Day Market Moving News and Views
Update Time: 16 July 2020 05:30GMT

USD/JPY - 106.94... The greenback swung wildly in hectic trading yesterday as despite edging up to 107.30 in Asia, price tumbled in European morning on cross-buying in jpy and fell to session lows at 106.67 in New York morning. However, failure to penetrate last week's low at 106.65 (Friday) triggered short-covering and the pair rebounded to 106.97 in New York, then marginally higher to 107.03 in Asia today before stabilising.

Dollar's rebound from 106.67 yesterday suggests choppy trading above said support at 106.65 would continue and marginal gain is likely, however, offers at 107.20/30 should limit upside and yield another retreat. Below 106.65/67 would extend decline from July's peak at 108.16 to 106.20/30.

Pay attention to the release of U.S. jobless claims at 12:30GMT and retail sales at 13:00GMT. Street forecast of jobless claims is 1,250k vs previous reading of 1,314k. Elsewhere, Chicago Fed President Charles Evans will speak on the current economic conditions and monetary policy at Annual Rocky Mountain Economic Summit at 17:30GMT.

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AceTraderFx July 17: Intra-Day News and Views & data to be released today- EUR/USD

Intra-Day Market Moving News and Views
Update Time: 17 July 2020 05:30GMT

EUR/USD - 1.1384... The single currency went through a roller-coaster ride yesterday as despite retreating to 1.1379 in European morning, price rallied to session highs at 1.1442 in post-ECB trading. However, failure to break Wednesday's 4-month peak at 1.1451 triggered profit-taking and the pair dropped to session lows at 1.1371 in New York afternoon due partly to usd's broad-based strength before trading sideways in Asia today.

Euro's retreat from yesterday's 1.1442 high signals choppy trading below aforesaid 1.1451 top would continue with downside bias and weakness to 1.1326 is seen.
Offers are now seen at 1.1390/00 and more above at 1.1410/20 with stops building up above there whilst initial offers are noted at 1.1310/20.

Although there is a slew of economic data to be released from the eurozone today, market focus is on a special EU summit beginning today, where the EU countries are expected to vote on the 750 billion euro recovery fund to revive the region's growth.

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

Intra-Day Market Moving News and Vviews
Update Time: 20 July 2020 04:30GMT

EUR/USD - 1.1422... Although the single currency opened lower and dropped to 1.1405 in New Zealand due to the ongoing impasse at the EU leaders summit to finalise the details of EU's recovery fund, price gained to 1.1445 at Asian open. The pair then met renewed selling there and retreated to 1.1413 in Asian morning and continues to remain under pressure.

Euro's intra-day retreat from 1.1445 suggests further choppy trading below last Wednesday's 4-month peak at 1.1451 would continue with downside bias and below last Thursday's low at 1.1371 would yield stronger retracement to 1.1350/53. Offers are now seen at 1.1430/40 with stops building up above there whilst initial bids are noted at 1.1340/50.

Germany will release its produce prices at 06:00GMT but market focus will remain on the EU leaders summit which is set to resume at 04:15GMT after going on a break.

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

Intra-Day Market Moving News and Vviews
Update Time: 21 July 2020 05:30GMT

USD/JPY - 107.17... The greenback went through a roller-coaster ride on Monday as despite rising from 107.02 in New Zealand to session highs at 107.53 in Asian morning, price pared its gains and retreated sharply to 107.04 in New York morning due to fall in U.S. Treasury yields. The pair then rebounded to 107.33 in New York afternoon before weakening to 107.13 in Asia today.

Dollar's retreat from yesterday's 11-day high at 107.53 signals upmove from July's trough at 106.65 has made a temporary top there and consolidation with downside bias remains for weakness to 106.84, then 106.65 again, break would extend decline from 108.16 (July) to 106.40/50.
Offers are now seen at 107.30/40 with stops building up above there whilst initial bids are noted at 106.30/40.

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

Intra-Day Market Moving News and Views
Update Time: 22 July 2020 05:30GMT

EUR/USD - 1.1542... The single currency went through a roller-coaster session yesterday as despite gaining to 1.1469 on EU recovery fund optimism, price dropped to 1.1424 in Asia on profit-taking after EU leaders announced a deal has been reached. The pair found renewed buying there and jumped in New York morning to a 1-1/2 year peak at 1.1539 on usd's broad-based weakness due to improved risk sentiment, then marginally higher to 1.1541 today.

Euro's intra-day break above yesterday's 18-month peak at 1.1539 signals erratic upmove from March's bottom at 1.0637 remains in progress and further gain to 1.1570/75 would be seen after consolidation.
Bids are now seen at 1.1520/30 and more below at 1.1490/00 with stops building up below there whilst initial offers are noted at 1.1590/00.

In the absence of major economic data from the eurozone today, pay attention to comments from ECB President Christine Lagarde at 13:15GMT.

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

Intra-Day Market Moving News and Views
Update Time: 23 July 2020 05:30GMT

EUR/USD - 1.1571... The single currency went through a roller-coaster ride yesterday as despite edging up to 1.1547 in Asia, price dropped to 1.1508 on risk aversion due to renewed U.S.-China tensions. However, renewed buying lifted the pair and euro rose to a 21-month peak at 1.1601 in New York morning on the return of risk sentiment before retreating to 1.1564 on profit-taking and then trading sideways inside a narrow range today.

Euro's rise above Tuesday's high at 1.1539 to 1.1601 yesterday signals upmove from March's trough at 1.0637 remains in progress and further gain to 1.1630/40 would be seen after consolidation.
Bids are now seen at 1.1550/60 with stops building up below there whilst initial offers are noted at 1.1640/50.

Germany will release Gfk's measure of consumer sentiment at 06:00GMT. Street forecast is -5.0 vs previous reading of -9.6. Elsewhere, ECB Vice President Luis de Guindos will take part in an online seminar at 09:00GMT.

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

Intra-Day Market Moving News and Views
Update Time: 24 July 2020 05:30GMT

EUR/USD - 1.1613... The single currency swung wildly in hectic trading yesterday as despite rebounding to 1.1598 in early European morning, failure to penetrate Wednesday's 21-month peak at 1.1601 triggered profit-taking and price dropped to 1.1541. However, the pair found renewed buying there and rose to 1.1626 in New York morning on usd's broad-based weakness before retreating to 1.1590 in New York afternoon and then trading sideways.

Euro's break above Wednesday's high at 1.1601 to 1.1626 yesterday signals erratic upmove from March's bottom at 1.0637 remains in progress and further gain to 1.1670/80 would be seen.
Bids are now seen at 1.1590/00 and more below at 1.1570/80 with stops building up below there whilst initial offers are noted at 1.1690/00.

There is a slew of data to be released from the eurozone including manufacturing and services PMIs from several countries. Pay particular attention to Germany's figures at 07:30GMT. Street forecasts are 48.0 and 50.5 vs previous readings of 45.2 and 47.3 respectively.

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

Intra-Day Market Moving News and Views
Update Time: 28 July 2020 05:30GMT

EUR/USD - 1.1749... The single currency extended its recent winning streak and rose above Friday's high at 1.1658 to 1.1725 in Asia yesterday. The pair then found renewed buying at 1.1683 in European morning and rallied to a fresh 22-month peak at 1.1781 in New York morning on usd's continued weakness before retreating to 1.1743 in New York afternoon on profit-taking. Price then rebounded again to 1.1773 in Asia today before weakening.

Euro's intra-day retreat after failure to break yesterday's high at 1.1781 suggests Medium Term upmove is not ready to resume yet and range trading would be seen, reckon bids at 1.1730/40 and more below at 1.1710/20 would contain downside and yield another rise later.
Above 1.1781 would extend to 1.1815 but offers at 1.1820/30 would cap upside and yield correction.

Data to be released on Tuesday :
UK CBI distributive trades, and U.S. redbook, CaseShiller home price, consumer confidence, Richmond Fed manufacturing index.

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

Intra-Day Market Moving News and Views
Update Time: 30 July 2020 05:30GMT

EUR/USD - 1.1775... The single currency went through a roller-coaster ride on Wednesday. The pair remained on the front foot in Asia and gained to 1.1769 in early European morning before briefly dropping to 1.1719 at New York open. The pair then rallied to a fresh 22-month peak at 1.1806 in post-FOMC trading and then retreated to 1.1755 in New York afternoon on profit-taking before rebounding again to 1.1797. However, failure to penetrate said top triggered renewed selling in Asia today and price weakened to 1.1767.

Euro's rise to a fresh 22-month peak at 1.1806 yesterday suggests MT uptrend would head to 1.1830/40 after consolidation. Bids are now seen at 1.1760/70 with stops building up below there whilst initial offers are noted at 1.1840/50.

There is a slew of data coming out of the eurozone today including German unemployment, EU economic and business sentiment but one should pay particular attention to Germany's GDP qq and yy at 08:00GMT. Street forecasts are -9.0% and -11.3% vs previous readings of -2.2% and -2.3% respectively.

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