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

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

Intra-Day Market Moving News and Views
Update Time: 05 Nov 2019 04:30GMT

GBP/USD - 1.2882... The British pound retreated to 1.2910 in European morning yesterday on continued UK Brexit election concerns. Renewed selling at 1.2927 at New York open knocked price down and the pair fell to session lows at 1.2876 in New York afternoon on usd's broad-based strength together with cross-selling of sterling especially vs euro and continues to remain under pressure in Asian morning today.

Cable's selloff to 1.2876 yesterday suggests early pullback from 1.2789 has ended at 1.2975 last Thursday and consolidation with downside bias remains. Offers are touted at 1.2900/10 and more above at 1.2920/30 with stops building up above there, suggesting selling on intra-day recovery is the way to go.

Pay attention to the release of UK services PMI at 09:30GMT. Street forecast is for a slight uptick to 49.7 from previous reading of 49.5.

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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 2019 04:30GMT

USD/JPY - 109.08... The greenback takes a breather after yesterday's resumption dollar's recent winning streak. Price traded with a firm bias in Europe and then jumped to 109.22 at New York midday on upbeat U.S. data together with rising U.S. yields, then marginally higher to 109.24 near New York closing. However, failure to penetrate October's 109.28 top triggered profit-taking and price retreated to 109.01 in Tokyo morning.

Although dollar's retreat after yesterday's rise to 109.24 suggests price is not ready to re-test October's 3-month peak at 109.28 yet and range trading is in store.
Bids at 108.90/00 and more below at 108.80/90 should contain downside and yield another rise. Therefore, buying on dips for a resumption of Medium Term upmove is the way to go.

There are a couple of Fed speakers today. Chicago Fed President Evans will speak at 13:00GMT and New York Fed President Williams will participate in a discussion at the "Future of Workforce" event at 14:30GMT.

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AceTraderFx Nov 07: Intra-Day News and Views & data to be released today -GBP/USD

Intra-Day Market Moving News and Views
Update Time: 07 Nov 2019 04:30GMT

GBP/USD - 1.2845... The British pound proved quite tricky to trade as despite trading with a firm bias in Asia and edging up to 1.2894 in Europe, then higher to 1.2897 at New York open, price erased its gains and dropped to session lows at 1.2845 in New York afternoon as a Sky News poll showed a drop in support for the Conservative party together with risk aversion on US-China trade concerns. The pair met renewed selling at 1.2861 in Australia and dropped below 1.2845 to 1.2837 in Asian morning today.

Cable's break of yesterday's low at 1.2845 suggests recent decline from last Thursday's high at 1.2975 to retrace early upmove from 1.2789 has resumed and consolidation with downside bias remains. Offers are now seen at 1.2850/60 and more above at 1.2870/80 with stops building up above there whilst initial bids are noted at 1.2800/10.

Market focus is on the Bank of England's Super Thursday. Although it is widely expected that the central bank will keep its rate unchanged at 0.75%, investors should pay attention to Governor Carney's conference at 12:30GMT for comments on forward guidance.

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

Intra-Day Market Moving News and Views
Update Time: 08 Nov 2019 04:30GMT

USD/JPY - 109.23... The greenback takes a breather after yesterday's rally to a 5-month peak at 109.48. Earlier in the day, despite dropping to dropping to session lows at 108.66, price gained to 109.19 in European morning, then higher to 109.58 in New York afternoon as comments from China's Commerce Ministry increased optimism over US-China trade deal. However, lack of follow-through buying triggered profit-taking and retreated to 109.16 in late New York and continues to remain under pressure in Tokyo morning.

Dollar's break of October's peak at 109.28 to 109.48 yesterday suggests Medium Term upmove from August's 33-month trough at 104.46 has resumed and buying on intra-day dips for a resumption of said uptrend is favored.
Bids are now seen at 109.00/10 and more below at 108.70/80 with stops building up below there whilst initial offers are noted at 109.80/90.

Pay attention to the release of University of Michigan Consumer Sentiment at 15:00GMT. Street forecast is for an uptick to 95.9 from previous reading of 95.5.

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

Intra-Day Market Moving News and Views
Update Time: 11 Nov 2019 04:30GMT

GBP/USD - 1.2792... The British pound trades sideways in Asia after opening higher to 1.2808 (Reuters) in New Zealand after Friday's selloff from 1.2822 to 1.2769 in New York session after credit ratings agency Moody's turned its outlook on UK to negative and on continued uncertainty over upcoming UK election.

Cable's firm break below last Thursday's low at 1.2794 to 1.2769 Friday suggests consolidation with downside bias remains and selling on intra-day recovery for a resumption of decline from October's 5-month peak at 1.3012 is the favored strategy.
Offers are now seen at 1.2810/20 and more above at 1.2830/40 with stops building up above there whilst initial bids are noted at 1.2710/20.

There is a slew of UK production data due today but particular attention should be given to the release of UK GDP MM and YY at 09:30GMT. Street forecasts are 0.4% and -0.2% vs previous readings of 0.3% and -0.1% respectively.

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

Intra-Day Market Moving News and Views
Update Time: 13 Nov 2019 04:20GMT

GBP/USD - 1.2851... The British pound proved quite tricky to trade yesterday as despite initial rebound to 1.2866 in Asia, price dropped to session lows at 1.2816 on mixed UK jobs data. Price then erased its losses and rallied to an intra-day high at 1.2873 at New York midday on cross-buying in sterling especially vs euro. However, lack of follow-through buying triggered profit-taking and the pair retreated to 1.2843 near New York closing and continues to trade sideways in Asia today.

Cable's rebound from 1.2816 to 1.2873 yesterday suggests the pullback from Monday's high at 1.2897 has ended there and consolidation with upside bias remains and above said resistance would extend upmove from Friday's low at 1.2769 to 1.2918 later.
Bids are now seen at 1.2820/30 and more below at 1.2800/10 with stops building up below there whilst initial offers are noted at 1.2890/00.

There is a slew of UK data due at 09:30GMT but one should pay particular attention to the release of CPI mm and YY.
Street forecasts are -0.1% and 1.6% vs previous readings of 0.1% and 1.7% respectively.

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

Intra-Day Market Moving News and Views
Update Time: 14 Nov 2019 04:20GMT

USD/JPY - 108.77... The greenback gains some respite after yesterday's selloff on risk-averse buying in jpy. Despite rebounding to 109.14 in Europe yesterday, price dropped to 108.67 in New York morning on falling U.S. yields, then marginally lower to 108.66 in New York afternoon on WSJ report that US-China trade talks have "hit a snag". The pair then recovered to 108.86 in Tokyo morning today before retreating on soft China data.

Dollar's re-test of previous support at 108.66 yesterday suggests suggests decline from November's 5-month peak at 109.48 would resume after consolidation and extend towards 108.32.
However, bids at 108.20/30 and more below at 108.00/10 should contain downside and yield rebound later.

There are a slew of speakers from the Federal Reserve due to speak today. Pay particular attention to Fed Vice Chair Clarida's speech on the Fed's review of its monetary policy strategy at the Cato Institute's 37th Annual Monetary Conference at 14:10GMT. U.S. will also release its jobless claims at 13:30GMT. Street forecast is 215k vs previous reading of 211k.

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

Intra-Day Market Moving News and Views
Update Time: 18 Nov 2019 04:30GMT

USD/JPY - 108.83... The greenback found renewed buying at 108.49 in European morning on Friday and gained to 108.85 in New York morning on improved risk appetite. Price then rose marginally above this level to 108.87 (Reuters) in New Zealand today before retreating. However, 108.68 contained downside ahead of Asian open and the pair rebounded to 108.84 before stabilising in Tokyo morning.

Dollar's intra-day break above last Friday's high at 108.85 suggests decline from November's 5-month peak at 109.48 has made a temporary low at 108.25 last Thursday and consolidation with upside bias remains for 109.29, therefore trading from long side for a stronger retracement of aforesaid decline is favored.
Bids are seen at 108.60/70 and more below at 108.40/50 with stops building up below there whilst initial offers are noted at 109.30/40.

There will be no data out in Japan later today.

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

Intra-Day Market Moving News and Views
Update Time: 19 Nov 2019 04:20GMT

GBP/USD - 1.2953... The British pound proved quite tricky to trade yesterday as the pair opened higher in New Zealand on UK election optimism and rose to session highs at 1.2985 in European morning due partly to cross-buying in sterling especially vs euro. However, price then pared its gains and retreated to 1.2943 ahead of New York open before staging a rebound to 1.2972 in New York and then retreating again to 1.2946 in Asian morning today.

Although cable's retreat after yesterday's rally to near 4-week peak at 1.2985 would yield consolidation before re-test of October's 5-month peak at 1.3012 is seen, break would extend erratic upmove from September's low at 1.1959 to 1.3047 later.
Bids are now seen at 1.2940/50 and more below at 1.2920/30 with stops building up below there whilst initial offers are noted at 1.3020/30, suggesting buying on intra-day dips is the way to go.

Pay attention to the release of UK CBI trends survey at 11:00GMT. Street forecast is -30 vs previous reading of -37.

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

Intra-Day Market Moving News and Views
Update Time: 20Nov 2019 05:20GMT

GBP/USD - 1.2913... Although the British pound edged up to session highs at 1.2970 at European open, price erased its gains and dropped to 1.2927, then to an intra-day low at 1.2911 in New York afternoon on cross-selling of sterling especially vs eur. The pair then recovered to 1.2930 in Australia before falling in tandem with euro to 1.2901 in Asian morning.

Cable's selloff after Monday's rise to 1.2985 suggests upmove from November's low at 1.2769 has temporary top there and consolidation with downside bias remains. Therefore, selling on intra-day recovery for a stronger retracement to 1.2868 is favored. Offers are now seen at 1.2930/40 and more above at 1.2950/60 with stops building up above there whilst initial bids are noted at 1.2860/70.

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