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

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AceTraderFx Mar 30: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
30 Mar 2016 04:03GMT

GBP/USD - ...... The British pound tracked euro's intra-day swing closely on Tuesday. Despite a retreat to 1.4195 in European morning, price ratcheted higher to 1.4308 in New York morning after Bank of England Financial Policy Committee said in a statement of its March 23 meeting that they're ready to support financial stability as they warned of the threats stemming from the U.K.'s referendum on its membership in the European Union, then rallied to 1.4404 in New York afternoon on dovish remarks from Fed's chairman Yellen.

In the absence of U.K. economic events on Wednesday, the British pound is expected to track euro's intra-day swings closely again today.
At present, bids are noted at 1.4360-50 and then 1.4340-30 with stops at 1.4320, whilst on the upside, offers are reported at 1.4410-20 and around 1.4430 with stops above 1.4450.

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AceTraderFx Mar 31: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views (GBP/USD)
31 Mar 2016 00:30GMT

A survey by Reuters showed on Thursday that British consumers remain their least confident in more than a year as they worry about the country's European Union referendum and the euro zone's unresolved economic problems.
Market research firm GfK said its overall consumer sentiment indicator stood at zero in March, unchanged from February and its joint lowest level since December 2014. Overall the survey showed consumers were less willing to spend on big-ticket items than in February.

Britain's consumers have been the key driver of the country's economic recovery over the past three years.
Joe Staton, head of market dynamics at GfK, said that despite good economic headlines about low inflation, interest rates and prices in the shops, concerns about Brexit and the ongoing euro zone crisis appear to be hitting home.
Optimism among consumers about the economy over the next 12 months was 18 points lower than in March 2015 at -12.

Chancellor of the Exchequer George Osborne has warned repeatedly that the country faces a "dangerous mixture" of risks from the world economy.
Economists say the government's decision to hold the EU referendum is another, home-grown, risk which is likely to hurt confidence in the run-up to the vote on June 23.
If voters decide to leave the bloc, Britain will probably suffer a hit to growth, at least in the short term, most economists say.

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AceTraderFx Mar 31: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
31 Mar 2016 09:05GMT

GBP/USD - ...... Cable continues to move higher in Europe as market shrugged off earlier downbeat U.S. trade data whilst GDP was revised slightly higher.
Reuters reported Britain's current account deficit widened much more than expected to hit a record high, highlighting one of the economy's weak spots that is coming under sharper focus ahead of the European Union membership referendum.

The Office for National Statistics said on Thursday that the deficit in the current account widened to 32.7 billion pounds in the fourth quarter of 2015, shooting up to the equivalent to 7.0 percent of gross domestic product.
This deficit had stood at 4.3 pct of GDP in the third quarter.
Economists taking part in a Reuters poll had expected the shortfall to widen to 21.1 billion pounds in the October-December period.

For 2015 as a whole, the current account deficit stood at 96.2 billion pounds or 5.2 percent of GDP, also the biggest since records began in 1948.

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AceTraderFx Apr 1: Intra-Day Market Moving News & Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
01 Apr 2016 01:07GMT

USD/JPY - ...... Despite dlr's rebound after ratcheting lower from Thursday's Asian high of 112.66 to 112.11 in New York session, intra-day retreat from o/n New York high of 112.61 to 112.21 in Tokyo morning suggests directionless session inside near term established range of 112..02-112.68 would continue ahead of the release of important U.S. non-farm payrolls data in New York morning later today.

Market's focus today is surely on release of the US non-farm report as the Federal Reserve takes into account the health of the labour market in determining the timing of another interest rate hike. Market expects U.S. to have added 205K jobs to the economy in March compared to 242K the previous month. Having said that, investors should also pay attention to the release of U.S.'s average hourly earnings, unemployment rate as well as the Markit manufacturing PMI and ISM manufacturing PMI which are scheduled to release later in NY morning at 13:45GMT n 14:00GMT respectively.

At present, offers are noted at 112.50-60 and then 112.80-90 with stops above there, whilst bids are noted at 112.20-10 and more around 112.00 with stops below there.

Data to be released on Friday:

Australia AIG manufacturing index, Japan Tankan big manufacturing index, Tankan big non-manufacturing index, Tankan large all industry Capex, Tankan small manufacturing index, Tankan small non-manufacturing index, Tankan small all industry Capex, manufacturing PMI, China non-manufacturing PMI, manufacturing PMI, Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, France Markit manufacturing PMI, Germany Markit manufacturing PMI, Eurozone Markit manufacturing PMI, unemployment rate, U.K. Markit manufacturing PMI, U.S. non-farm payrolls, unemployment rate, private payrolls, manufacturing payrolls, average earnings, participation rate, manufacturing PMI, construction spending, Reuters/University of Michigan consumer sentiment index and Canada RBC manufacturing PMI.

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AceTraderFx Apr 5: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
05 Apr 2016 02:16GMT

USD/JPY - ...... The Japanese yen gained broadly on Tue in Asia as data on wages suggested improvement (see our previous MMN). The pair came under renewed selling pressure after meeting selling interest at 111.36 ahead of Asian open and then fell below New York support at 111.10 to a session low of 110.86 after the Japan's jobs report.

Although dlr's intra-day weakness in Asia suggests consolidation with downside bias would be seen, as investors are awaiting more clarity on the direction of rates in the U.S. in the release of minutes later this week, sharp decline below Mar's 16-mohth bottom at 110.67 is not likely to be seen and 110.00 (psychological support) should hold on 1st testing.

Today will see the release of U.S. service PMI by Markit and ISM non-manufacturing in New York morning.
At the moment, offers are noted at 111.10-20 and more at 111.30-40 with stops above 111.50, whilst on the downside, bids are reported at 110.70-60 and then at 110.50-30 region with stops below there.

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AceTraderFx Apr 5: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
05 Apr 2016 09:31GMT

GBP/USD - ...... Britain's economy appears to have slowed since the start of this year as worries about the global economy, government spending cuts and a vote on staying in the European Union take their toll, a closely watched survey showed on Tuesday.
Financial data company Markit said its Purchasing Managers Index for services recovered only slightly last month after reaching its lowest in nearly three years in February.
Official data last week showed Britain's economy did slightly better than thought at the end of 2015, but the Markit figures, which economists use as a guide to future official numbers, suggest 2016 got off to a weak start.

Combined with sub-par readings for manufacturing and construction, Markit said its service PMI pointed to a fall in quarterly economic growth in the first three months of 2016 to 0.4 percent, from 0.6 percent in the final three months of 2015.
Britain's economy grew 2.3 percent last year. Government forecasters expect growth to slow to 2.0 percent in 2016.
Britain will hold a referendum on whether to leave the EU on June 23.
A poll of businesses on Monday showed the possibility of a vote in favour of leaving is causing companies to put investment plans on hold.

The weaker growth forecasts left finance minister George Osborne hunting for savings in last month's budget.

The Markit/CIPS services PMI - which covers the private-sector services that make up about 40 percent of Britain's economy - rose to 53.7 in March from February's near three-year low of 52.7, in line with economists' expectations.
Monday's construction PMI and Friday's survey of manufacturers were lacklustre, too.
The combined index for the three measures inched up to 53.7 in March from 52.9.
Services generated new business at the slowest rate since January 2013, and the readings for hiring and business expectations were among the weakest in the past three years.

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AceTraderFx Apr 6: Intra-Day Market Moving News & Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views
06 Apr 2016 02:11GMT

USD/JPY - ....... Although dlr tumbled to a fresh 17-month trough at 109.92 near New York midday on Tuesday after data showed that U.S. trade deficit widened more than expected in February, short-covering emerged later in the day and lifted price to 110.55. Dlr then retreated to 110.23 in Australia before climbing marginally higher to 110.57 in Tokyo morning.

Today's focus for the market is surely on the release of FOMC minutes at 18:00GMT as investors are looking for more details behind the central bank's decision to keep interest rates unchanged and clues on the timing of the next interest rate increase. Therefore, sharp gain or losses is not likely to be seen in Asian n European sessions.

At present, bids are noted at 110.20-10 and 110.00-109.90 with stops below 109.80.
On the upside, offers are reported at 110.60-70 and more at 110.80-90 with stops above 111.00.

Data to be released on Wednesday:

China services PMI, Japan leading economic index, coincident index, Germany industrial production, U.S. mortgage application and Canada Ivey PMI.

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AceTraderFx Apr 7: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
07 Apr 2016 01:25GMT

USD/JPY - 109.45... Although dlr rebounded from a fresh 17-month trough at 109.34 to 109.83 in New York afternoon after release of FOMC minutes, then a brief jump to 109.91 in Tokyo morning on comments from Japan MOF official (see our previous MMN), dovish comments from Dallas Fed President Robert Kaplan knocked price down again to 109.35.

Renewed intra-day weakness in dlr during Tokyo morning suggests consolidation with downside bias would be seen and therefore, selling usd/jpy pair on recovery is still favour.
However, sharp decline below 109.00 level is not likely to be seen ahead of the release of U.S. jobless claims in New York morning (12:30GMT).

At present, offers are reported at 109.60-70 and then 109.80-90 with mixture of offers and stops seen in the region of 110.00-110.20.
On the downside, initial bids are noted at 109.30-20 and near 109.10 with buying interest from various accounts noted at 109.00-108.90.

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AceTraderFx Apr 7: Intra-Day Market Moving News and Views (EUR/USD)

Intra-Day Market Moving News and Views
07 Apr 2016 08:30GMT

EUR/USD - .......France's trade deficit widened in February to 5.2 billion euros ($5.95 billion), the biggest since August 2014, seasonally adjusted data published today by the customs office.
After a deficit of 3.9 billion euros in January, revised from a preliminary estimate of 3.7 billion, the trade balance deteriorated sharply in February as imports surged on the delivery of inputs for the French car and aerospace industries from abroad, while overall exports dipped.
The trade deficit weighed heavily on the current account, pushing it to a deficit of 3.9 billion euros in February - the biggest since June 2014 - wider than the 2.2 billion in January, the Bank of France said separately. It revised the January deficit from a preliminary estimate of 1.4 billion euros.

The European Central Bank's chief economist Peter Praet said that the negative interest rates will become a worry for banks' business models if they persist for two or three years, if you think about the implications for business models.
The ECB has charged banks for parking money overnight since June 2014, leading to complaints from lenders that their margins are being squeezed because they cannot pass on the charge to their depositors.

ECB is not discussing distributing money directly to citizens in the euro zone, a step known as "helicopter money", this form of monetary easing was first envisaged by U.S. economist Milton Friedman using the metaphor of a flying helicopter dropping money.

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AceTraderFx Apr 8: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views (USD/JPY)
08 Apr 2016 01:10GMT

USD/JPY - 108.64... Although the greenback accelerated recent losing streak vs the Japanese yen on worries of a slowdown in global economy and fell to a fresh 17-month trough at 107.67 in New York morning on Thursday, short-covering emerged there and later lifted price to 108.46 near New York closing.
Later, the greenback found renewed support at 108.07 and climbed higher to 108.84 in Tokyo morning following verbal warnings by Japanese officials (see our previous MMNs).

Today, U.S. will release Wholesale Inventories and Wholesale Sales data for Feb at 14:00GMT.
Later, Federal Reserve Bank of New York President William Dudley will speak at a mobile classroom run by the American Job Center the tour of The WorkPlace at 15:15GMT.

Although intra-day rise in usd/jpy pair in Tokyo morning suggests consolidation with mild upside bias would be seen in Asia, current decline in Nikkei may limit upside to 109.00 level n yield retreat.
At the moment, bids are reported at 108.60-50 and more at 108.40-30 with stops below 108.20, whilst on the upside, offers are tipped at 108.90-00 and in the region of 109.10-30 with stops above 109.50.

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