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

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AceTraderFx Nov 06: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 06 Nov 2020 05:30GMT

USD/JPY - 103.65... The greenback recovers after yesterday's sell. The pair met renewed selling at 104.55 in Australia on Thursday and fell to 104.23 at Asian open and despite rebounding to 104.47 at European open, price penetrated September's 104.01 low and tumbled to a 7-1/2 month bottom at 103.45 in post-FOMC New York on usd's broad-based weakness as Fed kept interest rates unchanged with loose monetary policy. Price then bounced to 103.76 in Asian morning today on short-covering.

Although dollar's rebound from 103.45 suggests medium term decline from 111.71 (Mar) has made a minor low and choppy sideways swings would be seen ahead of U.S. key jobs report before prospect of another fall to 103.10/20. Offers are tipped at 103.70/75 with stops above 104.00/05 while bids are noted at 103.20 with stops below there.

Market focus today will be on U.S. jobs data due out at 13:30 GMT. Street forecast for non-farm payrolls is 600k, versus prior readings of 661k. While consensus for average earnings MM/YY are 0.2%/4.6% versus previous readings of 0.1%/4.7%.

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AceTraderFx Nov 09: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 09 Nov 2020 05:30GMT

USD/JPY - 103.32... The greenback moves sideways in Asian morning after selloff from last week's high at 125.34 to a 7-1/2 month of 103.18 in Europe on Friday due to usd's broad-based weakness before recovering to 103.71 in post-NFP but only to weaken again to 103.20 in New Zealand today.

Although dollar has rebounded after resumption of medium term from 111.71 (March) to 103.18 on Friday, as 103.71 has capped recovery, consolidation with downside bias remains for weakness to 102.90/00, however, loss of downward momentum should keep price above 102.65/70 today.
Offers are tipped at 103.60/70 with more above, while stops above 104.00/05 .
Bids are noted at 103.20 with stops below 103.00.

On the calendar front, although there will be no data from the U.S. today, we have a few Fed officials scheduled to speak later, please refer to our EI page for more details.

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AceTraderFx Nov 10: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 09 Nov 2020 05:30GMT

EUR/USD - 1.1833... Although the single currency moved sideways in Asia on Monday, price retreated from 1.1898 at European open to 1.1861 before briefly rising to a 7-week high at 1.1919 in New York morning. However, renewed selling interest emerged and knocked price down to 1.1796 on usd's broad-based strength due to rally in U.S. Treasury yields before recovering to 1.1836, then 1.1839 in Asian morning today.

Although euro's rally from last Wednesday's 3-month trough at 1.1603 to 1.1919 yesterday suggests decline from September's 2-year peak of 1.2011 has made a temporary low, subsequent sharp retreat would pressure price to 1.1755/60 after consolidation, however, reckon 1.1724 (61.8% r fm 1.1603-1.1919) should hold and yield rebound. Offers are tipped at 1.1835/40 with stops above 1.1860 while bids are noted at 1.1790-85 with more below and stops below 1.1740-30.

On the data front, Germany will release ZEW economic sentiment and ZEW current conditions at 10:00 GMT, street forecasts are 41.7 and -65.0 respectively, which are significantly lower than prior readings of 56.1 and -59.5.

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AceTraderFx Nov 11: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 11 Nov 2020 05:30GMT

EUR/USD - 1.1826... The single currency went through a roller-coaster ride on Tuesday. Although price gained from 1.1808 at Asian open to 1.1843 in early European trading, price met renewed selling and fell to 1.1781 on cross-selling in euro, especially versus sterling. However, the pair then rebounded in tandem with rise in cable to 1.1834 in New York and then traded broadly sideways.

Monday's selloff from a 7-week high at 1.1919 to 1.1796 on usd's broad-based strength due to Pfizer news and rise in U.S. Treasury yields, then 1.1781 yesterday suggests near term upmove from last Wednesday's 3-month trough at 1.1603 has made a temporary top and subsequent rebound would bring consolidation ahead of European open before prospect of another drop to 1.1760/70, however, reckon 1.1724 (61.8% r) should hold.
Offers are tipped at 1.1835/40 with stops above 1.1860/70 while bids are noted at 1.1795-90 with stops below 1.1750.

Although there are will be no economic data from the euro zone today, we have a few ECB officials scheduled to speak at the ECB Forum on Central Banking today with focus on President Christine Lagarde's speech at 13:00 GMT. Please refer to our EI page for more details.

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AceTraderFx Nov 12: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 12 Nov 2020 05:30GMT

USD/JPY - 105.27... The greenback found renewed buying at 105.01 in Asia on Wednesday and rose to 105.54 in early European trading and then gained to a 3-week high at 105.67 in holiday-thin North American session as U.S. markets were closed for Veterans Day holiday due to usd's broad-based strength before retreating to 105.22 in Asian morning today on active safe-haven yen buying.

Despite dollar's brief break above Monday's 105.64 high to 105.67, subsequent retreat and intra-day break of 105.37/40 suggests near term upmove from last Friday's 7-1/2 month trough at 103.18 has made a temporary top and below 105.01 would head to 104.72/74, however, reckon 104.43 (50% r) should hold and yield another bounce.
Some bids are noted at 105.00-104.95 with stops below 104.70.
While offers are tipped at 105.60/65 with stops above 106.00/10.

On the calendar front, U.S. will release CPI MM/YY at 13:30 GMT, with street forecasts at 0.1%/1.3% versus prior readings of 0.2%/1.4%. At the same time, weekly jobless claims and continued jobless claims will be due out and consensus are at 735k and 6.900M respectively versus previous readings of 751k and 7.285M. Traders should also remain cautious on U.S. election related headlines.

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AceTraderFx Nov 13: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 13 Nov 2020 05:30GMT

USD/JPY - 104.88... The greenback met renewed selling at 105.47 at Asian open yesterday and later retreated to 105.08 in New York after on cross-buying in Japanese yen, then fell to 104.87 in Asian morning today due to drop in U.S. Treasury yields.

Despite dollar's resumption of upmove from last Friday's 7-1/2 month trough at 103.18 to 105.64 on Monday, then Wednesday's brief break there to a 3-week high at 105.67, subsequent retreat suggests first leg of correction has ended and below 104.70/74 would bring stronger retracement to 104.43 (50% r) before prospect of another bounce. Some bids are noted at 104.75-70 with stops below 104.50 while offers are tipped at 105.45/50 with stops above 105.80/85.

On the calendar front, U.S. will release PPI at 13:30 GMT followed by University of Michigan sentiment at 15:00 GMT, with street forecasts at 82.0 versus prior readings of 81.8.

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

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

USD/JPY - 105.54... Although the greenback opened higher and gained to 104.87 (Reuters) in New Zealand today, price met renewed selling on continued usd's weakness and fell below Friday's 104.57 low to 104.54.

Despite dollar's rally from November's 7-1/2 month trough at 103.18 to a 3-week high at 105.67 last Wednesday, subsequent erratic fall to 104.57 on Friday, then intra-day brief break there suggests first leg of correction has ended and mild downside bias would be seen, however, reckon 104.43 (50% r) should hold and yield rebound, above 105.14/15 would head back to 105.62/67.
Bids are noted at 104.45 with stops below there while offers are tipped at 104.85/90 with more above and stops above 105.50.

On the calendar front, U.S. will only release New York Fed manufacturing index at 13:30 GMT and we have San Francisco Fed's President Mary Daly scheduled to speak later at 18:45 GMT followed by Federal Reserve Vice Chair Richard Clarida at 19:00 GMT on U.S. monetary policy.

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

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

EUR/USD - 1.1861... The single currency went through a roller-coast ride. Although euro rose from 1.1830 in New Zealand to 1.1868 in early European trading, price erased intra-day gains and fell to 1.1815 at New York open. However, the pair then staged a strong rebound to 1.1856 near New York close on return of risk sentiment after Moderna Inc reported positive Covid-19 vaccine results as well as rise in U.S. stocks. Price then edged higher to 1.1866 in Asian morning today.

Despite yesterday's retreat from 1.1868 to 1.1815, subsequent strong rebound suggests pullback has ended and near term upmove from last Wednesday's 1.1746 low would head to 1.1890 after consolidation but break needed to bring re-test of November's 7-week high of 1.1919, above would extend recent uptrend from November's 3-month trough at 1.1603 to 1.1660/65 before prospect of another fall.
Bids are noted at 1.1845-40 with more below and stops below 1.1800 while offers are tipped at 1.1880/90 with stops above 1.1915/20.

Although there are no major data from the euro zone today, we have a couple of ECB officials scheduled to speak with focus on President Christine Lagarde at 16:00 GMT where she participates in an online Q&A during the Bloomberg New Economy Forum. Traders should also pay close attention to Covid-19 vaccine headlines as well as U.S. election related news.

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

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

EUR/USD - 1.1855... The single currency initially gained to 1.1867 in Asian morning yesterday before retreating to 1.1844 in European morning on cross-selling in euro. However, renewed buying interest emerged and price rallied to a 1-week high at 1.1893 shortly after New York open but only to weaken again to 1.1858 on profit-taking, then to 1.1851 in Asian morning today.

Despite euro's resumption of upmove from last Wednesday's 1.1746 low to 1.1893 yesterday, subsequent retreat suggests choppy trading below November's 7-week peak at 1.1919 would continue and below 1.1815 would bring stronger retracement to 1.1788/90 but 1.1746 should hold, yield another bounce.
Some offers are tipped at 1.1865/70 with stops above 1.1900 while bids are noted at 1.1845 with move below and stops below 1.1800.

On the data front, EU will release HICP and core HICP at 10:00 GMT and we have a few ECB officials scheduled to peak, please refer to our EI page for more details.

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AceTraderFx Nov 19: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 19 Nov 2020 05:30GMT

EUR/USD - 1.1848... The single currency went through a roller coaster ride on Wednesday. Although euro gained from 1.1851 in Asian morning to 1.1891 in European morning on usd's weakness, price retreated to 1.1853 at New York open and then rebounded to 1.1877 but only to drop again to 1.1833 shortly after Asian open today on safe-haven usd buying due to later fall in U.S. stocks.

Although euro's resumption of upmove from last Wednesday's 1.1746 low to 1.1893 on Tuesday suggests early correction from November's 7-week peak at 1.1919 has ended, subsequent erratic fall and intra-day break of 1.1844 support to 1.1833 signals consolidation with downside bias would be seen for weakness to 1.1800 but 1.1788/90 should hold and yield rebound.
Therefore, selling on recovery is favoured, offers are tipped at 1.1850/55 with more above and stops above 1.1900 while bids are noted at 1.1805-00 with stops below there.

Market focus today will be ECB's President Christin Lagarde's comments as she appears at the Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Frankfurt at 08:00 GMT and as ESRB Chair at 10:00 GMT.

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