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

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

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

USD/JPY - 105.39... The Japanese yen went through a roller-coaster ride on Tuesday. Although dollar found renewed buying at 105.36 in Australia and rose to 105.61 at Asian open, then ratcheted higher to a 1-week high of 105.74 shortly after New York open on cross-selling in jpy, price later retreated to 105.43 on usd's broad-based weakness and then lower to 105.36 in Asian morning today.

Although dollar's erratic rise from last Wednesday's 11-day low of 105.04 to 105.74 yesterday suggests recent decline from October's 3-week high at 106.10 has made a temporary low, subsequent retreat signals recovery has possibly ended, below 105.18/20 would head back to 105.04, then re-test of October's 104.95 trough but break needed to 104.70/80.
Offers are tipped at 105.50/55 with stops above 105.80/85 while bids are noted at 105.20 with more below and stops below 105.00-104.95.

On the calendar front, although U.S. will only release weekly MBA mortgage applications at 11:00 GMT, we have some Fed officials scheduled to speak in New York session, please refer to our EI page for more details.

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

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

USD/JPY - 104.69... The greenback met renewed selling at 105.52 in Australia yesterday and penetrated previous October's 104.95 low to a near 1-month bottom at 104.35 in New York morning on usd's broad-based weakness together with cross-buying in yen, especially versus euro before rebounding to 104.70 shortly after Asian open today.

Despite dollar's resumption of upmove from September's 6-month trough at 104.01 to 106.10 in October, subsequent retreat and yesterday's selloff to 104.35 suggests correction has ended and range trading would be seen before re-test of said key support, where break would extend medium term decline from 111.71 (March) to 103.85/90.
Therefore, selling on pullback is favoured and offers are tipped at 104.70/75 with stops above 104.95/00 while bids are noted at 104.30-25 with more below and stops below 104.00.

On the data front, U.S. will release initial jobless claims and continued jobless claims at 12:30 GMT, street forecasts are 860k and 9.500M respectively versus previous readings of 898k and 10.018M. Following that will be existing home sales and leading index change at 14:00 GMT, then KC Federal manufacturing index at 15:00 GMT.

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

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

USD/JPY - 104.75... Although the Japanese yen traded with a firm bias and gained to 104.74 in Asia yesterday, price fell to 104.48 in European morning on cross-selling in jpy. However, renewed buying interest emerged and the pair rose to 104.92 near New York close on usd's broad-based strength, then 104.93 in Australia today before retreating to 104.70 at Asian open.

Despite dollar's fall below previous October's 104.95 low (now resistance) to a near 1-month bottom at 104.35 on Wednesday, subsequent strong bounce to 104.93 today suggests recent decline has made a temporary trough and 104.95 needs to hold to maintain bearish view, below 104.35 would bring re-test of 104.01, where break would extend downtrend from 111.71 (March) to 103.85/90.
Offers are tipped at 104.85/90 with stops above there while bids are noted at 104.45-40 with move below and stops below 104.10-00.

On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 13:45 GMT and traders should keep an eye out for development of U.S. stimulus talks as if it remains standstill, we may see another round of safe-haven usd buying.

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

Intra-Day Market Moving News and Views
Update Time: 27 Oct 2020 05:30GMT

USD/JPY - 104.78... The greenback found renewed buying at 104.66 in Asian morning yesterday and rose to 104.97 in early European trading. The pair then ratcheted higher to 105.05 in New York morning on active safe-haven usd buying on weakness in global stocks before retreating to 104.83, then 104.75 in Asian morning today.

Despite dollar's erratic rise from last Wednesday's near 1-month trough at 104.35 to 105.05 yesterday, subsequent retreat to 104.75 today suggests recovery has possibly ended and below 104.35 would bring marginal weakness, however, loss of momentum should keep price above September's 6-month bottom at 104.01.
Offers are tipped at 104.85/90 with stop above 105.10 while bids are noted at 104.50-45 with more below and stops below 104.30-25.

On the calendar front, U.S. will release a slew of data, please refer to our EI page for more details.

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

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

EUR/USD - 1.1780... The single currency went through a volatile session on Tuesday. Euro traded with a firm bias in Asia and gained to 1.1835 before retreating to 1.1797 in European morning. Despite rising to 1.1838 in New York morning on usd's weakness, the pair met renewed selling there and easily penetrated last Friday's 1.1788 low to 1.1770 in Australia today due to safe-haven usd buying on concern over potential lockdown in the euro zone due to surge in coronavirus infections.

Despite euro's erratic rise from September's 8-week trough at 1.1613 to a 1-month high at 1.1880 last Wednesday, subsequent fall to 1.1788 Friday, then 1.1770 today suggests temporary top is made and consolidation with downside bias would be seen for stronger retracement to 1.1715 (61.8% r), however, oversold condition should keep price above October's 1.1689 low today. Hence, selling on recovery is favoured.
Offers are tipped at 1.1785/90 with stops above 1.1800/05 while bids are noted at 1.1745-40 with move below and stops below 1.1700.

On the calendar front, we have a slew of data from the euro zone today, please refer to our EI page for more details. Traders should also pay close attention to lockdown headlines as well as development of U.S. stimulus talks.

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

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

EUR/USD - 1.1753... The single currency went through a volatile day yesterday as euro began falling in New York afternoon on Tuesday on news of potential lockdown in France and Germany due to surge in Covid-19 infections. The pair fell to 1.1770 in Australia and despite rebounding to 1.1787 in Asian morning, renewed selling emerged and intra-day fall accelerated in European session and tumbled to an 8-day low of 1.1718 at New York open on active safe-haven usd buying on weakness in global stock market. The pair then rebounded in tandem with cable to 1.1760 and stabilises in Asian morning today.

Despite euro's resumption of upmove from September's 8-week trough at 1.1613 to a 1-month high at 1.1880 last Wednesday, subsequent retreat and yesterday's selloff to 1.1718 suggests temporary top is made and consolidation would be seen ahead of ECB interest rate decision before re-test of October's 1.1689 low, where break would head to 1.0675/80 but 1.1650/60 should hold.
Offers are tipped at 1.1755/60 with stops above there while bids are noted at 1.1705-00 with stops below 1.1680.

Market focus today will be the European Central Bank meeting as it is expected new stimulus measures will be introduced to tackle second wave of coronavirus pandemic.
Therefore, traders should pay close attention to President Christine Lagarde's press conference at 13:30 GMT.

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

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

EUR/USD - 1.1686... Although the single currency rebounded to 1.1758 in Asian morning yesterday and then moved sideways, renewed selling emerged at European open and the pair later tumbled to a 1-month low at 1.1651 in New York after the European Central Bank kept interest rates unchanged but hinted further monetary easing by December before rebounding to 1.1688 in Asian morning today on usd's broad-based profit taking.

Although euro's rebound from 1.1651 yesterday suggests near term decline from last Wednesday's 1.1880 high to retrace upmove from September's 8-week trough at 1.1613 has made a temporary low and choppy sideways swings would be seen, reckon 1.1695/00 should hold and yield another fall later, below 1.1651 would bring re-test of 1.1613, break would extend downtrend from September's 2-year peak at 1.2011 to 1.1685/90.
Offers are tipped at 1.1690/95 with stops above 1.1720 while bids are noted at 1.1650-45 with more below and stops below 1.1600.

On the data front, euro zone will release a lot of data in European session, please refer to our EI page for more details. Traders should remain cautious on news headlines related to U.S. stimulus talks and U.S. presidential election.

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

Intra-Day Market Moving News and Views
Update Time: 02 Nov 2020 05:30GMT

EUR/USD - 1.1642... The single currency stabilizes after last week's selloff from 1.1864 on Monday to a fresh 1-month low of 1.1640 (EBS) on Friday due to active safe-haven usd buying as France and Germany heads to another round of lockdown due to surge in Covid-19 infections. The pair rebounded to 1.1656 in New Zealand today and fell briefly to 1.1639 ahead of Asian open and trades narrowly.

Despite euro's three-legged rise from September's 8-week trough at 1.1613 to a 1-month peak of 1.1880 in October, subsequent fall to 1.1640 on Friday, then briefly lower today suggests correction has ended and re-test of 1.1613 would be seen after consolidation, where break would extend downtrend from September's 2-year peak of 1.2011 to 1.1585/90 before prospect of another bounce due to loss of momentum.
Offers are building up at 1.1645/50 with stops above 1.1670 while bids are noted at 1.1620 with more below and stops below 1.1600.

On the data front, today is Markit manufacturing PMI day; street forecasts for Germany and euro zone are 58.0 and 54.4 respectively versus prior readings of 58.0 and 54.4. Any readings below, we may see another round of weakness in euro. We have ECB's Olli Rehn scheduled to speak at 12:00 GMT, followed by ECB's Yves Mersch at 14:00 GMT.

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

Intra-Day Market Moving News and Views
Update Time: 03 Nov 2020 05:30GMT

USD/JPY - 104.77... Although the greenback found renewed buying at 104.51 in New Zealand yesterday and rose to 104.94 in Europe on usd's broad-based strength, price then retreated to 104.64 at New York open due to weakness in U.S. Treasury yields before recovering to 104.87 and then moves sideways in Asian morning today.

Although dollar's erratic rise from last Thursday's 5-week low at 104.03 to 104.94 yesterday suggests recent decline from October's 106.10 high has made a temporary low, subsequent retreat signals recovery has possibly ended, below 104.35/40 would confirm this view and head to September's 6-month trough of 104.01.
Offers are tipped at 104.85/90 with stops above 105.05 while bids are noted at 104.35/40 with stops below 104.00.

On the calendar front, U.S. will release a slew of data, please refer to our EI page for more details. Focus today will be on U.S. presidential election with latest polling at Joe Biden leading. Traders should keep an eye out for such headlines.

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

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

USD/JPY - 104.34... The greenback went through a volatile session on Wednesday on uncertainty over U.S. presidential election. Although dollar briefly dipped to 104.38 at Asian open, the pair easily rose above last week's high at 105.05 (Monday) to a 13-day top of 105.34 on active safe-haven usd buying as election results tightened. However, the pair then tumbled to 104.16 in Europe on cross-buying in yen before rebounding in tandem with rise in U.S. stocks to 104.62 in New York and then weakened again to 104.22 at Asian open today.

Dollar's selloff from 105.34 to 104.16 suggests recovery from last Thursday's 5-week trough at 104.03 has ended and re-test of September's 6-month bottom at 104.01 would be seen after consolidation, where break would extend medium term decline from 111.71 (March) to 103.67/70.
Offers have been lowered to 104.40/45 with stops above 104.60/65 while bids are noted at 104.05-01 with stops below there.

Market focus today will be on Federal Reserve's interest rate decision due out later at 19:00 GMT and although it is widely expected that rates will remain unchanged, traders should pay attention to the tone of Chairman J. Powell's press conference at 19:30 GMT. As U.S. election results are closer to the finishing line, investors should keep an eye out for latest election count.

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