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

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

Intra-Day Market Moving News and Views
Update Time: 10 May 2019 03:00GMT

EUR/USD - 1.1200.. Despite gyrating above n then below the 1.1200 handle in last 3 sessions this week, the single currency rallied above Tuesday's 1.1218 high in early New York trading as intra-day selloff in U.S. stocks as well as European equities led to broad-based usd's weakness, the single currency jumped to 1.1251 after tripping stops above 1.1230 but price soon pared intra-day gain as recovery in the Dow n S&P 500 boosted risk sentiment, causing euro to retreat to 1.1210 at New York close/Australia.

As euro has finally found a firm footing well above 1.1200, suggesting consolidation with upside bias remains and stops above 1.1265 are now in focus.
Bids are noted at 1.1215-05 with stops touted below 1.1200, more below 1.1960.
Offers are tipped at 1.1250/60 with stops above 1.1265/70.

On the eco. data front, we have a slew of data from euro area countries plus a number of ECB officials speaking during the day (see EI section for details). The euro area will release a slew of eco. data during European morning (see refer to our EI section for details).

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AceTraderFx May 14: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 14 May 2019 03:00GMT

USD/JPY - 109.95.. Despite dlr's brief drop below yesterday's low at 109.91 to a fresh 5-week trough of 109.84 following hawkish rhetoric from Trump that China broke the trade deal, price quickly pared intra-day losses market realised his remark was made in front of a crowd of supporters in Florida.

Dlr then showed muted reaction to comments from BOJ Gov. Kuroda who is presenting to the Japanese Diet BOJ's Semiannual Report on Currency and Monetary Control. Having said that, the lack of an intra-day strg bounce suggests downside bias remains.
Offers are tipped at 110.15/25 with stops above 110.35 whilst bids are noted at 109.80-70 with stops below there.

U.S. will release a slew of eco. data (pls refer to our EI section for details). Pay attention to speech by Fed Chair J. Powell who is giving opening remarks at a Fed conference in Washington D.C. ay 12:30GMT, then later at 18:15GMT, Chicago Fed President Evans will speak at a luncheon conference in Washington D.C. also.

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AceTraderFx May 15: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 15 May 2019 03:00GMT

USD/JPY - 109.62.. Dlr moves relatively narrowly in subdued Asian trading after staging a rebound on Tue from 109.15 (AUS) to 110.77 in Europe due to active cross-unwinding of recent short yen positions on slight easing of U.S.-China trade tensions.

Reuters reported in New York afternoon U.S. Treasury Secretary Mnuchin will plan for another trade meeting in China at some point soon (see 22:05GMT update for details).

Looks like range trading will prevail in Asia, however, as the strong bounce from Mon's 3-month trough at 109.02 suggests recent downtrend has made a temp. low, consolidation with upside bias remains for a much-needed retracement to 109.90/00 later today.
Bids are noted at 109.50-45 with stops below 109.30 while offers are tipped at 110.70/80 with stops above 111.10.

On the data front, U.S. will release MBA mortgage applications, retail sales,industrial prod., capacity utilization, mfg output, bus. inventories n NAHB Housing Market index. Also, we have Ded Vice Chair for Supervision Quarles soeaking at 13:30GMT and Richmond Fed's President Barkin speaking at 17:00GMT.

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AceTraderFx May 16: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 16 May 2019 03:00GMT

EUR/USD - 1.1208.. Euro moves narrowly in subdued Asian morning after yesterday's rebound from 1.1178 to 1.1225 following news of Trump's auto-tariffs delay, however, as price later retreated to 1.1198 in New York afternoon, Asian traders are on the sidelined and would wait for reaction from their European counterparts later.

Despite the decline from this week's high at 1.1265 (Monday) to 1.1178 yesterday, subsequent bounce to 1.1225 suggests euro is likely to 'gyrate' inside recent 1.1265-1.1135 broad range and near term upside remains for another rise towards upper indicated level later today.
Bids are noted at 1.1200-1.1390 and more below with stops reported below 1.1175 and then below 1.1160.
Offers are tipped at 1.1220/25 with stops above 1.1250, then more are reported above 1.1270.

The euro area countries will release a slew of eco. data (pls refer to EI page for details). Today is the meeting of euro zone FinMins in Brussels n many key ECB officials will be participate in this event as well as making speeches, pay attention to speech by ECB Chief Economist Praet at at 07:30GMT n also comments by ECB President Draghi who will participate in the Eurogroup meeting.

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

Intra-Day Market Moving News and Views
Update Time: 17 May 2019 03:00GMT

EUR/USD - 1.1177.. The single currency is nursing loss in subdued Asian morning after hitting an 8-day low of 1.1167 in New York yesterday.

Despite staging a rebound to 1.1225 in European morning, failure to penetrate this Wed's high quickly triggered long liquidation n decline accelerated due to renewed Italy's budget deficit concerns, euro later tumbled to 1.1167 in New York afternoon as the greenback caught a bid after release of robust U.S. data n gain in U.S. stocks (DJI index closed up 0.84% at 25862).
Looks like consolidation with downside bias would be seen, as price is expected to remain confined inside recent 1.1265-1.1135 range, lower level would hold n may bring rebound later today if U.S. data miss forecast. In the meantime.
Offers are tipped at 1.1190/00 with stops above 1.1225/30 whilst bids are noted at 1.1170-60 with stops reported below 1.1135, there is market chatter of large stops building below April's 1.1112 bottom.

On the data front, the EU will release construction output, HICP n core HICP.
We have meeting of EU FinMin in Brussels today, so be on the look out for comments by some of them during European session.

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AceTraderFx May 20: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 20 May 2019 03:00GMT

USD/JPY - 110.26.. Despite dlr's initial retreat from Asian 110.03 high to 109.50 at New York open on Friday, the greenback caught a bid after release of stronger-than-expected U.S. data (U.S. consumer confidence jumped to a 15-year high - May index came in at 102.4 vs forecast of 97.5) which triggered broad-based usd buying, price rallied to 110.18 before easing.

The pair opened at 110.12 in NZ n then climbed to intra-day high of 110.32 in Asian morning on renewed yen-selling and ignored further news on U.S.-China trade tensions (see early updates for details).
Although Friday's close above 110.00 confirms recent decline has made a temp. low at last Monday's 3-month trough at 109.02, overbought condition is likely to prevent further sharp gain n may yield strong retreat later today in European trading as the safe-haven yen may well get another round of buying on more negative U.S.-China trade talk news.
Offers are tipped at 110.40/50 with stops above 110.70.
Bids are noted at 110.00-109.90 with stops below 109.80 n more below 109.50.

Monday's U.S. eco. calendar is very light with Chicago Fed National Activity index being the only data due out at 12:30GMT. Pay attention to speech by Philly Fed President Harker at 13:30GMT. Also New York Fed's Williams n Fed Board Governor Clarida will participate in 2-hour "Fed Listens" Round table in New York at 17:00GMT.

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

Intra-Day Market Moving News and Views
Update Time: 21May 2019 03:00GMT

USD/JPY - 110.17.. Despite dlr's retreat from Monday's 12-day high of 110.32 (Asia) to 109.81 at New York open due to intra-day fall in U.S. yields and usd's weakness, the pair later recovered to 110.06 ahead of New York close due to broad-based rebound in the greenback.

Dlr climbed back to 110.21 in early Asian trading on Tuesday on renewed yen-selling triggered by present rise in U.S. yields, suggesting re-test of 110.32 is likely to be seen but loss of upward momentum should cap price at 110.50/60 today. '
Bids are noted at 110.00-109.90 with stops below 109.80.
Offers are tipped at 110.25/30 with stops above 110.35 and more above 110.50.

Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans and Fed's Rosengren speaking later today.

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

Intra-Day Market Moving News and Views
Update Time: 22 May 2019 03:00GMT

EUR/USD - 1.1164.. Despite continuing its recent losing streak and hitting a marginal low of 1.1142 in European morning, intra-day brief but sharp rally in sterling lifted euro to session highs of 1.1188 in New York morning but the pair later retreated in tandem with subsequent selloff in cable.

Although euro's rebound from Tuesday's fresh 2-week low at 1.1142 suggests choppy trading above May's trough at 1.1135 would continue, above 1.1188 needed to signal recent decline from 1.1265 has made a low there n head back towards 1.1225.
Bids are noted at 1.1155-45 with stops below 1.1130, there is market chatter of large stops building up below 2019 22-month bottom at 1.1112.
Offers are tipped at 1.1180/90 with stops above 1.1200.

No eco. data is due out today, however, do keep an eye out on speeches by ECB President Draghi and ECB Chief Economist Praet at an ECB event in Frankfurt at 07:30GMT and 09:30GMT respectively.

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AceTraderFx May 23: Intra-Day News and Views & data to be released today -EUR/USD

Intra-Day Market Moving News and Views
Update Time: 23 May 2019 03:00GMT

EUR/USD - 1.1150.. Euro continues to move in familiar territory in directionless trading yesterday as sterling stole the limelight due to political turmoil in the U.K. and swung wildly in European morning as well as New York session.

Although euro caught a light bids in European morning n staged a rebound from 1.1148 to session highs of 1.1180 shortly after New York open, intra-day rebound in cable triggered broad based unwinding in short sterling positions n euro retreated to 1.1151 near New York close as eur/gbp cross fell from a fresh 3-month peak of 0.8839 to 0.8791.

Range trading is expected to continue ahead of European open and as long as this week's low at 1.1142 (Tuesday) holds, choppy trading with mild upside bias remains whilst break of May's 1.1135 trough would shift risk to the downside for re-test of 2019 22-month bottom at 1.1112 (April).
Bids are noted at 1.1150-1.1140 with stops below 1.1135 and there is market chatter of fairly large stops building up below 1.1100.
Offers are tipped at 1.1180/90 with stops above 1.1200.

Today is PMI day in the euro area countries, Germany will kick off with Q1 GDP, then France's bus. climate, Markit mfg and servcies PMIs, pay attention to release of the important Ifo business climate, current conditions n expectations indexes n lastly, EU's mfg and services PMIs.

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AceTraderFx May 24: Intra-Day News and Views & data to be released today -USD/JPY

Intra-Day Market Moving News and Views
Update Time: 24 May 2019 03:00GMT

EUR/USD - 1.1182.. Although the single currency remained on the back foot in Euroepan morning on Thur due to weak key German Ifo data as well as downbeat ECB minutes, price briefly penetrated previous 2019 low at 1.1112 (April to a 2-year bottom at 1.1108 but lack of follow-through selling quickly lifted price. The pair then continued to climb strongly due to usd's broad-based weakness caused by initial selloff in U.S. stocks and falling U.S. treasury yields, price later rallied to session highs of 1.1187 before moving narrowly in New York afternoon trading.

Yesterday's impressive rally from 1.1108 suggests recent downtrend has made a temp. low and consolidation with upside bias is seen with stops above 1.1190/00 now in focus, break there would encourage for stronger retracement towards 1.1225.
Bis are noted at 1.1155-50 and more at 1.1135 with market chatter of fairly large stops below 1.1100.

After yesterday's data dump from the euro area countries, no economic data is due out today.

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