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

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

Intra-Day Market Moving News and Views
Update Time: 09 Mar 2020 04:30GMT

USD/JPY - 102.50... The greenback finally gains some respite in hectic trading on early Monday. Price opened lower on risk-aversion as oil priced tanked and dropped to 103.54 in New Zealand before swiftly rebounding to 104.26 at Tokyo open. However, the pair met renewed selling there and fell to a 40-month trough at 101.57 in Asian morning as U.S. 30-year yields fell to record lows together with a selloff in Asian equities (Nikkei-225 is currently down by 1276 points or 6.15%) before staging a short-covering rebound to 102.70.

Dollar's sharp recovery from 101.57 suggests medium-term decline has possibly made a temporary low there and choppy trading with upside bias would be seen.
However, offers at 102.80/90 should limit upside and yield another fall later.

In the absence of key U.S. economic data today, investors should pay close attention to news headlines as fears about contagion from the coronaviurs continue to linger.

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

Intra-Day Market Moving News and Views
Update Time: 10 Mar 2020 04:30GMT


EUR/USD - 1.1408... The single currency proved quite tricky to trade yesterday as despite opening higher and rising to a 13-month peak at 1.1494 in Asian morning on usd's broad-based weakness, price retreated to 1.1366 in European morning. The pair then rebounded to 1.1484 in New York morning on cross-buying in euro especially vs sterling but only to retreat again to 1.1373 in Asian morning today.

Euro's intra-day rebound from Asian low at 1.1373 suggests the pullback from yesterday's 13-month peak at 1.1494 has possibly ended and consolidation with uspide bias remains for 1.1470/80, then 1.1494 again. Bids are now seen at 1.1370/80 with stops building up below there whilst initial offers are noted at 1.1510/20.

Pay attention to the release of EU final GDP data for Q4. Street forecasts for qq and yy are to remain unchanged at 0.1% and 0.9% respectively.

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AceTraderFx Mar 10: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Mar 2020 09:30GMT

USD/JPY - 104.16
Dollar's rally from a 3-1/2 year trough at 101.19 in New York yesterday suggests recent decline has made a temporary bottom there, subsequent weakness from 105.03 in Asia would bring consolidation before prospect of another rise, however, reckon 105.70/73 should cap upside and yield retreat.

On the downside, below 103.67 would head to 103.06/10, then 102.68.

In the absence of major economic data from U.S. today, investors should continue to keep their attention on the newswires together with keeping an eye on the U.S. Treasury yields and stock markets.

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

Intra-Day Market Moving News and Views
Update Time: 12 Mar 2020 04:30GMT

EUR/USD - 1.1294... The single currency proved quite tricky to trade yesterday as despite trading with a firm bias in Asia and edging up to session highs at 1.1366 in early European morning, price retreated sharply to 1.1302 in Europe before rebounding to 1.1351 at New York open. However, renewed selling there knocked price down and the pair tumbled to 1.1258 in New York morning, then lower to 1.1251 in Australia today. Later, price erased its losses and rallied to 1.1333 in Asian morning on usd's weakness due to falling U.S. yields and stocks.

Euro's intra-day rebound from 1.1251 suggests the correction from Monday's 13-month peak at 1.1494 has possibly ended there and consolidation with upside bias remains for stronger retracement to 1.1351, then 1.1366. However, initial offers at 1.1390/00 should cap current rise and yield retreat later.

Market focus is now on the European Central Bank's rate decision at 12:45GMT, followed by President Lagarde's presser at 13:30GMT. Investors should pay close attention to what steps the central bank will take to contain the current global growth concerns after the Federal Reserve and Bank of England announced surprise rate cuts recently.

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

Intra-Day Market Moving News and Views
Update Time: 13 Mar 2020 04:30GMT

USD/JPY - 105.17... The greenback swung wildly in hectic trading yesterday as despite initially falling to 103.10 in Asian morning, price rebounded strongly to 104.28 in Asia. The pair then found renewed buying at 103.52 in European morning and rallied to 105.85 in New York morning, then higher to session highs at 106.08 in New York afternoon on speculation that the Federal Reserve will inject additional liquidity. However, lack of follow-through buying triggered profit-taking and price retreated sharply to 104.51 at Tokyo open today before recovering to 105.27.

Dollar's selloff from yesterday's high at 106.08 to 104.51 today suggests upmove from Monday's 3-1/2 year trough at 101.19 has made a temporary top there and subsequent rebound would yield choppy trading before prospect of another fall to 104.20.
Offers are now seen at 105.20/30 and more above at 105.40/50 with stops building up above there whilst initial bids are noted at 104.00/10.

Pay attention to the release of University of Michigan Consumer Sentiment at 14:00GMT. Street forecast is for a drop to 95.0 from previous reading of 101.0.

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

Intra-Day Market Moving News and Views
Update Time: 16 Mar 2020 04:30GMT

USD/JPY - 107.04... The greenback has proved quite tricky to trade today in hectic trading conditions. Price opened lower and dropped to session lows at 105.74 in New Zealand after the Federal Reserve surprised the markets by slashing its interest rates to 0-0.25%. However, lack of follow-through selling triggered short-covering and price rebounded strongly to 107.57 in Tokyo morning before retreating again.

Dollar's intra-day strong rebound from 105.74 suggests the pullback from last Friday's high at 108.50 has ended there n choppy trading with upside bias would be seen for gain to 107.80/90.
Bids are now seen at 106.70/80 and more below at 106.40/50 with stops building up above there whilst initial offers are noted at 108.30/40.

Market focus is now on the Bank of Japan's emergency meeting, which will commence at 03:00GMT. The central bank is expected to follow the recent trend of slashing interest rates and possibly announce additional policy easing/stimulus measures.

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

Intra-Day Market Moving News and Views
Update Time: 17 Mar 2020 04:30GMT

EUR/USD - 1.1182... The single currency went through a roller-coaster ride yesterday as despite rallying from 1.1047 to 1.1199 in New Zealand on usd's weakness post Fed's surprise rate cut, price retreated again to 1.1086 in Asian morning before rallying to an intra-day high at 1.1236 on cross-buying of euro especially vs sterling. However, renewed selling there knocked price back down to 1.1095 in New York morning before staging another rebound to 1.1186 at New York closing, then 1.1188 in Asia today.

Euro's sharp retreat from 1.1236 to 1.1095 yesterday suggests the recovery from New Zealand low at 1.1047 has ended there and choppy trading with upside bias would be seen for a re-test of said support, break would extend decline from March's 13-month peak at 1.1494 to 1.1000/10 later.
Offers are now seen at 1.1190/00 and more above at 1.1200/10 with stops building up above there whilst initial bids are noted at 1.0990/00.

Pay attention to the release of German ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are for a sharp decline to -29.0 and -30.0 vs previous readings of 8.7 and -15.7 respectively.

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

Intra-Day Market Moving News and Views
Update Time: 18 Mar 2020 04:30GMT

USD/JPY - 107.26... The greenback briefly spiked up to 107.18 in Asian morning yesterday and continued to trade with a firm bias in European session. Price then hit session highs at 107.86 in New York morning due to a rally in U.S. yields. However, lack of follow-through buying triggered profit-taking and the pair retreated to 107.10 in Asia today due to a pullback in US yields and stock futures.

Dollar's rally to 107.86 yesterday suggests pullback from last Friday's high at 108.50 has possibly ended there and choppy trading with upside bias would be seen for a re-test of said resistance, break would extend upmove from March's 3-1/2 year trough at 101.19 to 108.80/90 before prospect of correction later.
Offers are now raised to 1.1020/30 and more above at 1.1040/50 with stops building up above there whilst initial bids are noted at 1.0900/10.

Pay attention to the release of U.S. building permits mm and housing starts mm at 12:30GMT. Street forecasts are -0.8% and -4.9% vs previous readings of 9.2% and -3.6% respectively.

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

Intra-Day Market Moving News and Views
Update Time: 19 Mar 2020 10:30GMT

GBP/USD - The British pound has relatively calmed down after yesterday's selloff from 1.2130 in Asian morning to a 35-year bottom at 1.1452 in New York on risk-off trades due to coronavirus fears as investors rushed to hold the greenback. Despite a brief break of 1.1452 to 1.1450 in Australia, cable staged a strong rebound to 1.1663 on short-covering but only to weaken again to 1.1474 in Asian morning. The pair then recovered to 1.1609 at European open before swinging broadly sideways.

Although intra-day retreat from 1.1663 to 1.1474 suggests recovery from 1.1450 has possibly ended, subsequent strong bounce would bring further choppy sideways swings before prospect of another fall, below 1.1474 needed to bring re-test of 1.1450, break would extend long-term decline to 1.1400/05.
Offers are initially tipped at 1.1580 with more above and stops above 1.1650 while bids are noted at 1.1480 and more below with stops below 1.1400.

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

Intra-Day Market Moving News and Views
Update Time: 20 Mar 2020 04:30GMT

EUR/USD - 1.0726... The single currency proved quite tricky to trade yesterday as despite retreating to 1.0879 in Asian morning, price staged a rebound to 1.0949 at European open. However, renewed selling there and knocked price back down and intra-day decline accelerated in European session and hit 1.0727 at New York open. The pair continued to ratchet lower on usd's broad-based strength and fell to a near 3-year trough at 1.0656 in New York afternoon, then marginally lower to 1.0654 in Asia before staging a short-covering rebound to 1.0749.

Euro's intra-day rebound from 1.0654 to 1.0749 suggests Medium Term decline has possibly made a temporary bottom there and choppy trading with upside bias would be seen for stronger retracement to 1.0803.
Bids are now seen at 1.0690/00 and more below at 1.0650/60 with stops building up below there whilst offers are noted at 1.0830/40.

Pay attention to German producer prices at 07:00GMT. Street forecasts for mm and yy are -0.1% and 0.2% vs previous readings of 0.8% and 0.2% respectively.

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