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

AceTraderFx July 05: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 05 July 2021 05:30GMT

EUR/USD - 1.1853.. Euro trades narrowly in subdued Asian morning with a soft bias after staging a strong bounce from Fri's 2-1/2 month trough of 1.1808 in post-NFP New York morning to 1.1874 on short covering.

As said rebound from 1.1808 signals recent decline has made a temp. low, range trading with mild upside bias remains for a minor correction towards 1.1884 b4 prospect of a retreat.
Order board is fairly thin on Mon with offers tipped at 1.1870/75 with stops above 1.1885 while some bids are noted at 1.1845/35 n more below with stop below 1.1800.

Today is PMI day in the euro area countries, please refer to our EI page for details, pay attention to services PMI for Germany n EU n then EU's sentix data.
A number of ECB officials are scheduled to speak, ECB President Lagarde will appear in a panel discussion at an event. As U.S. market is closed for market holiday, trading will quieten down in European afternoon.

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

Intra-Day Market Moving News and Views
Update Time: 06 July 2021 05:30GMT

USD/JPY - 110.85.. Despite staging a short-covering rebound in European morning from 110.80 on Monday to 110.99 in holiday-thinned N. American afternoon, the pair came under renewed selling pressure due to yen-buying on falling U.S. yields n hit 110.79 in Asian morning.

As dlr's decline from Friday's 15-month peak at 111.65 signals recent upmove has made a temp. top, subsequent weakness suggests modest correction to 110.65/70 would be seen, however, loss of downward momentum is likely to keep price above sup at 110.43 and bring rebound later today or tomorrow.
Offers are tipped at 109.95/00 with stops above there while bids are noted at 109.80-75 with stops touted below there.

U.S. market will reopen after Monday's Indespendence Day holiday, on the data front, we have Markit services PMI at 13:45GMT n then ISM non-mfg PMI at 14:00GMT.

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AceTraderFx July 07: Intra-Day News and Views & data to be released today –USD/JPY

Intra-Day Market Moving News and Views
Update Time: 07 July 2021 05:30GMT

USD/JPY - 110.50.. Dlr remains on the back foot in Tokyo morning and briefly penetrated Tuesday's 110.53 low to a near 1-week trough of 110.40 due to renewed cross buying of yen following yesterday's selloff in U.S. yields (benchmark 10-year hit a 4-month low of 1.348%, circa 1.3565%).

Although decline from last Friday's 15-month peak at 111.65 to as low as 110.40 today suggests recent uptrend has made a temp. top, loss of near term downward momentum would keep price above 110.22 and bring rebound ahead of release of FOMC minutes.
Offers are tipped at 110.70/80 with stops above 111.00 while bids are noted at 110.40-35 with some stops below 110.20.

U.S. will release some second-tier eco. data ahead of June's FOMC minutes at 18:00GMT, if minutes of last FOMC meeting sound hawkish, then usd will rise.
Atlantic Fed President (voter) will speak at 19:30GMT, he may comment on the FOMC minutes.

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AceTraderFx July 08: Intra-Day News and Views & data to be released today –USD/JPY

Intra-Day Market Moving News and Views

Update Time: 08 July 2021 05:30GMT

USD/JPY - 110.57.. Dlr remains on the back foot in early Asian trading as price edged lower in New York session due to falling US yields (benchmark 10-year hit 4-month low of 1.296%, circa 1.3179) following intra-day bounce on Wed from 110.40 to 110.81.

Today's weakness to 110.43 suggests briefly break below 110.40 is likely, however, loss of recent downward momentum and intra-day renewed usd's strength vs other G7 currencies should bring rebound later today.
Offers are tipped at 110.70/80 with stops above 110.85 whilst bids are noted at 110.45-40 with stops below there and more below 110.20.

On the data front, we the the usual U.S. weekly jobless claims and continued jobless claims.

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

Intra-Day Market Moving News and Views
Update Time: 09 July 2021 05:30GMT

USD/JPY - 109.90.. Dollar pares yesterday's losses in Asia on Friday after hitting a near 1-month trough of 109.54 in New York morning as bargain hunting by Japanese importers lifted price to 109.92.

As Thursday's selloff from 110.70 (AUS) to 109.54 which represented the largest one-day fall in 7 months due to active safe-haven yen buying on the back of global stock market rout as well as falling U.S. yields (benchmark 10-year hit a 4-month low of 1.250%, circa 1.3162%) signals medium-term uptrend has made a top earlier at July's 15-month peak at 111.65, the pair is en route to 109.20 (June's low) after consolidation.
Offers are tipped at 109.95/00 with stop above 110.05/10 while bids are noted at 109.70-60 with stops below 109.50.

T.G.I.F., economic calendar in the U.S. is very light with wholesale inventories n wholesale sales being the only data due out, therefore, traders will continue to take cue from intra-day moves in global stock markets n U.S. yields.

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

Intra-Day Market Moving News and Views

Update Time: 12 July 2021 05:30GMT

EUR/USD - 1.1874.. Euro trades narrowly in subdued Asian morning after Fri's gain from 1.1826 (Europe) to 1.1881 due to broad-based usd's weakness (except vs yen) as rebound in global stocks boosted risk appetite.

As the rally from Wed's 3-month trough of 1.1782 signals recent downtrend has made a temporary low, consolidation with upside bias remains for re-test of last week's 1.1894 high (Tue), above would extend gain to 1.1909/11 but o/bot condition should cap price at 1.1940/44.
Order book is fairly light with some bids noted at 1.1860/55 with stops below there, more stops are reported below 1.1825. Offers are tipped at 1.1880/85 with stops above 1.1900.

No eco. data is due out from the euro area countries, however, we have Eurogroup meeting in Brussels today where ECB President Lagarde and ECB Board member Panetta will attend the meeting. ECB VP de Guindos will lecture at a virtual lecture "ECB and the future of monetary policy" in Frankfurt at 09:00GMT.

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

Intra-Day Market Moving News and Views

Update Time: 13 July 2021 05:30GMT

USD/JPY - 110.43.. The pair remains on the front foot in Asian trading a renewed broad-based yen selling following Monday's rally in U.S. yields and gain in U.S. stocks boosted risk sentiment, suggesting upmove from last week's low at 109.54 (Thursday) to retrace recent decline from July's 15-month peak at 111.65 would head towards 110.59 (50% r) but reckon res at 110.81 would cap upside.

Therefore, trading dollar from long side is the way to go, bids have been raised to 110.30-20 with stops reported below 110.00 while offers are tipped at 110.60/70 with stops touted above 110.85.

On the data front, U.S. will release a slew of eco. data (please refer to our EI page for details), market attention is on Jun CPI data, a higher-than-expected number will send usd higher, however, market's main focus this week's is Fed President J. Powell's 2-day testimony before the Congress starting Wednesday. We also have 3 Fed officials scheduled to speak in New York session.

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

Intra-Day Market Moving News and Views
Update Time: 14 July 2021 05:30GMT

EUR/USD - 1.1781.. Euro languishes near Tuesday's 3-month trough of 1.1773 in relatively subdued Asian trading as market is on yen initially, then intra-day jump in the kiwi.

Despite intra-day sellof to 1.1793 after release of 'hot' US inflation data, euro staged a short-covering bounce to 1.1832 but only to tumble to session lows of 1.1773 as U.S. yields rallied. As yesterday's break of prev. July's 1.1782 low suggests correction from 2021 bottom at 1.1705 (March) has ended, price is en route to re-test this level especially if J. Powells sounds less dovish in his 2-day semi-annual testimony before the Senate.
Therefore, selling euro on recovery is the way to go, offers are tipped at 1.1795/05 n more above with stops touted above 1.1840. Bids are noted at 1.1770/60 with stops below there.

Eco. data in the euro area countries is very light with EU's industrial production being he only data due out. Market in France is closed for Bastille Day holiday.

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AceTraderFx July 15: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views

Update Time: 15 July 2021 05:30GMT

EUR/USD - 1.1833.. Euro trades narrowly in subdued Asian morning after yesterday's rally from 1.1773 (Asia) to 1.1838 in New York session due to broad-based usd's weakness on selloff in U.S. yields n J. Powell's dovish testimony.

As said yesterday's rebound after re-testing Tuesday's 3-month trough of 1.1773 suggests recent decline has made a temp. low, consolidation with upside bias remains for a stronger retracement towards 1.1881, however, reckon last week's top at 1.1894 (Tuesday) would cap upside n yield retreat later today or tomorrow.
Whilst trading from long side is preferred, position takers are recommended to sell euro on rally for re-test of 2021 bottom at 1.1705 (March) later this month. Bids are noted at 1.1825/15 with stops touted below 1.1800 while offers are tipped at 1.1835/40 with stops above 1.1855.

Eco. calendar is pretty light with Italy's CPI being the only data due out. ECB members Elderson n McCaul will appear at a public hearing in Frankfurt at 10:00GMT.

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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 2021 05:30GMT


USD/JPY - 110.00.. Despite initial weakness to 109.74 shortly after Tokyo open, failure to re-test Thursday's 109.72 low (Europe) quickly lifted price and dlr climbed back to 110.03 due to broad-based unwinding of short yen positions by traders ahead of BoJ's monetary policy decision which will likely come any time now.

As dlr's fall from this week's high at 110.69 (Wednesday) to 109.72 suggests correction from 109.54 has ended, break there would extend early fall from July's 15-month peak at 111.65 to next chat obj. at 109.20 (Jun low) but reckon 108.90/00 may contain weakness.
Offers are tipped at 110.05/10 with some stops above there, more stops are touted above 110.25.
Bids are noted at 109.75/70 with stops below there n more stops are reported below 109.50.

T.G.I.F. after a roller-coaster week, now that the 2-day semi-annual testimony by Fed J. Powell is out of the way, traders can take a breather. On the data front, we have U.S. retail sales, business inventories and University of Michigan consumer confidence. We also have New York Fed President Williams scheduled to speak at 13:00GMT.

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