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

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AceTraderFx Sept 18: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 18 Sept 2020 05:30GMT

EUR/USD - 1.1844... Despite the single currency's resumption of decline from September's 2-year peak at 1.2011 to a 1-month bottom at 1.1738 in Asia, lack of follow-through selling triggered short-covering and the pair ralled to 1.1811 in Europe. Price continued to ratchet higher in New York session and gained to 1.1861 in Asian morning today before stabilising.

Euro's rally from yesterday's trough at 1.1738 suggests recent decline has made a temporary low there and consolidation with upside bias remains for stronger retracement to 1.1900/05. Bids are now seen at 1.1820/30 and more below at 1.1800/10 with stops building up below there whilst initial offers are noted at 1.1920/30.

In the absence of major economic data from the EU today, pay attention to comments from ECB Vice-President Luis de Guindos, who is scheduled to speak on the COVID-19 impact on monetary policy in a virtual speech at 09:15GMT.

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

Intra-Day Market Moving News and Views
Update Time: 21 Sept 2020 05:30GMT

USD/JPY - 104.35... The greenback met renewed selling at 104.86 in Asia on Friday and dropped to a 6-week low at 104.28 in European morning on active safe-haven buying in jpy together with weakness in U.S. Treasury yields. Despite staging a short-covering rebound to 104.63 in New York afternoon, the pair came under selling pressure in New Zealand today and retreated again to 104.35 in Asian morning.

Dollar's weakness after Friday's fall to a 6-week trough at 104.28 suggests re-test of daily support at 104.19 would be seen after consolidation, break there would signal erratic decline form 109.94 (Jun) has once again resumed and extend to 103.90/00.
Offers are now seen at 104.50/60 and more above at 104.70/80 with stops building up above there whilst initial bids are noted at 103.70/80.

Data to be released today :
Japan market holiday, UK Rightmove house price.
U.S. national activity index and Canada new housing index on Monday.

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

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

EUR/USD - 1.1760... The single currency edged up to 1.1871 in Asian morning, however, the pair met renewed selling there and tumbled to 1.1776 in European morning due partly to a selloff in European stocks. The pair continued to ratchet lower and fell to a 1-month bottom at 1.1731 in New York morning on safe-haven usd buying before staging a short-covering rebound to 1.1774 in New York afternoon only to retreat again to 1.1754 in Asian morning today.

As euro has retreated again after meeting renewed selling at 1.1774, suggesting the recovery from 1.1731 has ended and consolidation with downside bias remains, below 1.1731 would extend decline from September's 2-year peak at 1.2011 to 1.1712, then 1.1697.
Offers are now seen at 1.1770/80 with stops building up above there whilst initial bids are noted at 1.1670/80.

Pay attention to EU consumer confidence at 14:00GMT. Street forecast is for a slight uptick to -14.6 from previous reading of -14.7.

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

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

USD/JPY - 105.16... Although the greenback retreated initially in Asia yesterday to 104.47, then marginally lower to 104.41 in European morning, price erased its losses and rallied to an intra-day high at 105.07 in New York morning on usd's broad-based strength together with hawkish comments from Chicago Fed President Evans. The pair then weakened to 104.87 in Australia today on profit taking before rising above yesterday's 105.07 top to 105.19 in Tokyo morning as Japanese markets resumed trading after 2-days of holiday.

Intra-day break above Tuesday's 105.07 top signals corrective rise from Monday's 6-month trough at remains in progress and marginal gain is likely, however, offers at 105.30/40 would cap upside and yield another retreat.
Below 104.87 would indicate a top has been made and bring weakness to 104.41 later.

Pay attention to the release of U.S. manufacturing and services PMIs at 13:45GMT. Street forecasts are 53.1 and 54.7 vs previous readings of 53.1 and 55.0 respectively. One should also keep an eye on comments from Fed officials as several of them are scheduled to speak today during New York session.

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

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

EUR/USD - 1.1662... The single currency staged a brief recovery fm European low at 1.1673 to 1.1718, however, renewed selling interest there knocked price down and the pair fell to a 2-month bottom at 1.1652 in New York afternoon on usd's continued strength together with cross-selling of euro especially vs sterling. The pair then staged a short-covering rebound to 1.1680 in Asian morning today before retreating again.

Euro's fall to a 2-month trough at 1.1652 yesterday suggests decline from September's 2-year peak at 1.2011 remains in progress and further weakness to 1.1620/30 would be seen after consolidation.
Offers are now seen at 1.1670/80 and more above at 1.1690/00 with stops building up above there whilst initial bids are noted at 1.1610/20.

Pay attention to the release of German Ifo business climate and current conditions at 08:00GMT.
Street forecasts are 93.8 and 89.5 vs previous readings of 92.6 and 87.9 respectively.

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AceTraderFx Sept 25: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 25 Sept 2020 05:30GMT

EUR/USD - 1.1667... The single currency swung wildly in hectic trading yesterday as despite edging up to 1.1680 in Asia, price fell to an 8-week bottom at 1.1627 at New York open on usd's continued strength. However, the pair then erased its losses and rose to 1.1687 in New York afternoon on profit-taking in usd together with cross-buying of euro especially vs sterling.

Although euro's rebound from yesterday's 8-week trough at 1.1627 suggests decline from September's 2-year peak at 1.2011 has possibly made a temporary low there.
Reckon offers at 1.1690/00 would cap upside and yield another retreat later.

In the absence of major economic data from the euro area today, pay attention to comments from ECB policymakers Francois Villeroy and Pablo Hernandez de Cos, both of whom are scheduled to speak at 06:45GMT.

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

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

EUR/USD - 1.1633... The single currency traded sideways inside a narrow range in Asia on Friday before edging up to 1.1684 in early European morning. However, price met renewed selling there and fell to a fresh 2-month bottom at 1.1613 in New York morning on usd's continued strength. The pair then staged a recovery to 1.1637 in New Zealand today before retreating again to 1.1616 in Asian morning.

Euro's intra-day rebound after failure to penetrate Friday's low at 1.1613 suggests further choppy trading above there would continue and marginal gain is likely before prospect of another fall. Below 1.1613 would extend decline from September's peak at 1.2011 to 1.1580/90.
Offers are now seen at 1.1640/50 and more above at 1.1660/70 with stops building up above there whilst initial bids are noted at 1.1570/80.

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

Intra-Day Market Moving News and Views
Update Time: 29 Sept 2020 05:30GMT

USD/JPY - 105.49... The greenback swung sideways in directionless Monday's session. The pair met renewed selling at 105.68 in New Zealand and dropped to session low s at 105.27 on cross-buying in jpy. However, price then pared its losses and rebounded strongly to 105.66 in New York morning only to retreat again to 105.35 in Tokyo morning today.

Dollar's intra-day retreat suggests further choppy trading below last Friday's high at 105.69 would continue, however, bids at 105.20/30 should contain downside and yield another rebound, above 105.69 would extend upmove from last Monday's 6-month trough at 104.01 to 105.90/00.

Pay attention to the release of US consumer confidence at 14:00GMT. Street forecast is for an uptick to 89.2 from previous reading of 84.8. There are also a handful of Fed speakers who are due to speak today but pay particular attention to Fed Vice Hair Richard Clarida's speech at 15:40GMT.

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AceTraderFx Sept 30: Intra-Day News and Views & data to be released today – USD/JPY

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

USD/JPY - 105.71... The greenback traded with a firm undertone in Asia yesterday and gained to 105.73 in European morning before retreating to 105.54 in New York morning. Later, renewed buying there contained downside and price rebounded to 105.70, then rose to 105.80 in Asian morning today. However, lack of follow-through buying triggered profit-taking and the pair weakened to 105.68 due partly to a retreat in Nikkei-225.

Intra-day break above yesterday's high at 105.73 signals corrective upmove from last Monday's 6-month trough at 104.01 remains in progress n further gain to 106.00/05 would be seen after consolidation.
Bids are now seen at 105.50/60 and more below at 105.30/40 with stops building up below there whilst initial offers are noted at 106.20/30.

The U.S. Presidential debate between U.S. President Trump and Democrat nominee Joe Biden is currently going on and has provided the market with no headlines as of yet. Elsewhere, pay attention to ADP employment at 12:15GMT and GDP at 12:30GMT. Street forecasts are 648k and -31.7% vs previous readings of 428k and -31.7% respectively.

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AceTraderFx Oct 05: Intra-Day News and Views & data to be released today – USD/JPY

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

USD/JPY - 105.54... Although the greenback briefly dipped to 105.29 in New Zealand today, price found renewed buying and gained to 105.60 in Asian morning due to risk-on trade on optimism that U.S. President Donald Trump may be discharged from the hospital later today.

Despite dollar's retreat from last Wednesday's 2-week high at 105.80 and Friday's selloff to 104.95, subsequent strong rebound to 105.60 today suggests pullback has ended and consolidation with upside bias remains for re-test of 105.80, break would extend upmove from September's 6-month trough at 104.01 to 106.26/29 but 106.50/55 should remain intact.
Bids are noted at 105.35-25 with stops below 105.00 while offers are tipped at 105.75/80 with more above and stops above 106.20.

On the calendar front, U.S. will release Markit Services PMI at 13:45 GMT, followed by ISM Non-Manufacturing PMI at 14:00 GMT. We also have a few Fed officials due to speak, please refer to our EI page for more details.

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