AceTraderFx : Intra-day Market Moving News and Views on Majors

AceTraderFx May 03: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 03 May 2021 05:30GMT

EUR/USD - 1.2022.. Euro remains on the defensive in holiday-thin Asian trading after Friday's selloff from 1.2127 (Asia) to as low as 1.2017 near New York close as upbeat U.S. data triggered broad-based short covering in the greenback.

Intra-day retreat after initial recovery to 1.2035 (New Zealand) suggests decline from Thur's fresh 8-week peak is en route towards chart obj. at 1.1994 where a daily close below there would pressure price towards 1.1948 later this week. Therefore, trading the single currency from short side is the way to go.
Order board is pretty thin on this Monday with some offers tipped at 1.2035/45 with stops above 1.2060 while bids are touted at 1.2015/05 with stops reported below 1.1990.

Today is PMI day in the euro area countries, Germany will kick off with retail sales, then Italy's Markit mfg PMI, the same from France, Germany n the EU. If actual readings in Germany n the EU come in weaker than street forecasts, then one can expect further euro selling in European morning.

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AceTraderFx May 04: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 04 May 2021 05:30GMT

EUR/USD - 1.2050.. Despite staging a strong rebound from Monday's 10-day trough of 1.2014 (Europe) to as high as 1.2075 in New York morning due to usd's weakness caused by release of soft US ISM mfg PMI n falling U.S. yields, the single currency inches lower due to renewed broad-based usd buying in holiday-thin Asian morning.

As said rebound on Mon suggests 1st leg of correction from last Thursday's 8-week peak at 1.2149 has ended, consolidation is in store before prospect of another fall to next daily chart obj. at 1.1994, therefore, selling euro on intra-day recovery is still favoured.
Order board is pretty thin with some offers tipped at 1.2065/75 with stops above there while bids are noted at 1.2050/40 with stops below 1.2035.

Economic calendar is very light in the euro area countries with France's budget balance being the only data due out. We have ECB Board member de Galhau scheduled to speak at a European Investment Bank conference at 07:30GMT.

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AceTraderFx May 05: Intra-Day News and Views & data to be released today –USD/JPY

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

USD/JPY - 109.23.. Dlr is in holding pattern after y'day's sideways swings following early retreat fm Mon's near 3-week peak of 109.69 to 108.90 n intra-day narrow move is expected to continue as markets in Japan n China are still closed (both will re-open Thur).

Although intra-day broad-based usd's retreat in Asia may weigh on the pair, as long as Mon's reaction low at 108.90 holds, price is en route to daily chart obj. at 109.95 once present consolidation is over. Order board is pretty ligh with bids touted at 109.05/108.95 with stops below 108.90 while offers are tipped at 109.45/55 with stops abv 109.70.

U.S. will release a slew of eco. data in NY morning session, pay attention to ADP private payrolls, then Markit services PMI n later ISM non-mfg PMI. We also have a number of Fed officials schedued to speak in NY session (pls refer to our EI page for details).

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

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

USD/JPY - 109.36.. Although markets in Japan and China have reopened after 3 days of market holidays, the pair continues to move narrowly, suggesting the daily sideways swings see in last 2 days following early retreat from 109.69 to 108.90 would continue.

Having said that, as dlr's recent rise from April's 6-week trough at 107.49 to 109.69 signals recent decline has ended, upside bias remains for price to head towards next daily chart obj. at 109.95 once current consolidation is over.
Bids are noted at 109.15/05 with stops below 108.90 and offers are tipped at 109.45/55 with stops above 109.70.

U.S. will release a slew of eco. data later today, please refer to our EI page for details and pay attention to weekly jobless claims n continued jobless claims at 12:30GMT as a gauge of latest employment situation.

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

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

USD/JPY - 109.12.. Despite initial brief break of o/n New York low at 109.01 to 108.94 on stop hunting, renewed buying above this week's low at 108.90 quickly lifted the pair to 109.18, suggesting the choppy swings inside Monday's 109.69-108.90 broad range would continue, a least, until release of monthly blockbuster U.S. NFP data.

As market is anticipating a robust U.S. jobs report, trading from long side into the figure is still recommended.
Bids are noted at 108.95/90 with stop touted below 108.85 while offers are tipped at 109.35/45 with stop above 109.70 n a mixture of stops n option defence are reported at 110.00/05.

U.S. will release a slew of eco. data later today (please refer to our EI page for details) but all eyes are on NFP and unemployment rate.

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

Intra-Day Market Moving News and Views
Update Time: 10 May 2021 05:30GMT

USD/JPY - 108.86.. Despite Friday's selloff from 109.28 to as low as 108.35 after U.S. payrolls missed market forecast by the most on record, price recovered on intra-day rebound in U.S. yields n the pair climbed steadily in Asian morning as benchmark 10-year U.S. yields rose above Friday's 1.584% high to 1.6000% in Asian trading.

Expect further sideways swings to continue n as long as 108.90 (last Mon's low, now res) holds, downside bias remains for decline from April's 109.69 high to head to 108.05/10 but reckon 107.90/95 would contain weakness. Order book is fairly thin with offers are tipped at 108.85/90 with stops above109.00.
Bids are tipped at 108.45/35 with stops reported below there.

After Friday's release of blockbuster jobs data, no eco. indicators are due out today.
We have Chicago Fed President Evans (FOMC voter) scheduled to speak at 12:30 and then 18:00GMT.

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AceTraderFx May 11: Intra-Day News and Views & data to be released today –USD/JPY

Intra-Day Market Moving News and Views
Update Time: 11 May 2021 05:30GMT

USD/JPY - 108.91.. Dlr trades narrowly with a firm bias after yesterday's initial gain from 108.47 (AUS) to 109.05 in Europe. Despite retreat to 108.66, price inched higher in tandem with U.S. yields.

Expect range trading to continue in Europe n as long as said Mon's 109.05 high holds, consolidation with downside bias remains for weakness towards Friday's 9-day trough of 108.35 but loss of momentum should limit downside to 108.08/10.
Offers are tipped at 108.95/00 with stops reported above 109.10 while bids are tipped at 108.65/55 with stops below 108.45, more stops are touted below 108.30.

On the data front, U.S. will release some second-tier eco. indicators, however, we have 5 Fed officials schedule to speak later today, please refer to our EI page for details.
Canada leading index, U.S. redbook, JOLTS job openings.

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

Intra-Day Market Moving News and Views
Update Time: 12 May 2021 05:30GMT

EUR/USD - 1.2131.. The single currency remains on the back foot in Asian morning after intra-day break of NY low at 1.2146 to 1.2132 due to broad-based usd's strength.

Although euro's retreat from Tuesday's fresh 10-week peak of 1.2181 signals recent upmove has made a temporary top and consolidation with near term downside bias is seen, as long as 1.2124 (Tuesday's low in New York) holds, prospect of another rise remains, loss of momentum would limit upside to 1.2210/15.
Bids are noted at 1.2130/25 with stops below 1.2120 n more stops are touted below 1.2100. Offers are tipped at 1.2160/70 and more above with stops above 1.2185.

On the eco. front, the euro area countries will release of inflation plus other data, please refer to our Economic Indicators page for details. ECB member Enria will speak at an economic forum at 08:55GMT.

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

Intra-Day Market Moving News and Views
Update Time: 13 May 2021 05:30GMT

EUR/USD - 1.2080.. The single currency is nuring loss after y'day's selloff in NY. Euro swung wildly in hectic NY trading as despite intra-day fall fm 1.2144 in Europe to 1.2071 in NY morning after upbeat US CPI data, price briefly jumped back to 1.2152 b4 tanking to 1.2066 near NY midday as decline in U.S. stocks (bencmark S&P 500 closed down 2.15% at 4,062) prompted broad-based safe-haven usd's buying.

As euro's fall from Tue's fresh 10-week peak of 1.2181 to 1.2066 suggests recent upmove fm 1.1705 (Wed) has made a temp. top, downside bias remains for weakness twd 1.1999 (38.2% r) after consolidation, therefore, selling euro on recovery is the way to go. Offers are tipped at 1.2085/95 with stops abv 1.2115 while bids (profit taking) are touted at 1.2060/55 with stops below 1.2045.

No econmic data is due out from the euro area countries as many European markets are closed for Ascesion Day market holiday, therefore, euro may probably move narrowly until NY morning.

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

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

EUR/USD - 1.2083.. Euro is in holding pattern after extending decline from Tuesday's fresh 10-week high of 1.2181 to a 6-day low of 1.2052 (Europe), however, intra-day retreat on U.S. yields (benchmark 10-year hit fresh 1-month high of 1.707%, circa 1.657%) on broad-based rebound in U.S. stocks triggered short covering n the pair rebounded to 1.2099 in New York morning b4 moving sideways.

Although recovery from 1.2052 suggests temporary low is in place and further sideways swings are likely to continue in European morning, outlook remains bearish for weakness to 1.2015/20, loss of downward momentum should keep price above 1.1987 (May low).
Offers are tipped at 1.2095/05 with stops reported above 1.215 while some bids are noted at 1.2065/55 with stops below 1.2050.

After Thursday's closure of many European centre for market holiday, trading in Europe will be back to normality, however, no eco. data is due out from the euro area countries. Having said that, pay attention to release of minutes last ECB's meeting at 11:30GMT as dovish minutes will spark another round of euro selling.

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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 2021 05:30GMT

EUR/USD - 1.2132.. Euro pares initial marginal gain above Friday's 1.2147 (New York) high to 1.2151 just ahead of Asian open on profit taking and slipped back to 1.2130.
As early strong rebound from 1.2052 (Thursday) signals correction from Tuesday's fresh 10-week high at 1.2181 has possibly ended, consolidation is seen and above 1.2151/52 would bode well for the single currency to head back towards 1.2181, break would extend recent upmove to 1.2200/10.

Therefore, buying euro on pullback for re-test of 1.2181 is favoured.
Order board is pretty thin in Asia on Mon with offers tipped at 1.2150/55 n more above with stops above 1.2185 while bids are noted at 1.2130/20 with stops below 1.2100.

The only eco. data due out is Italay's CPI n Bubs monthly report.

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AceTraderFx May 18: Intra-Day News and Views & data to be released today – EUR/USD

Intra-Day Market Moving News and Views
Update Time: 18 May 2021 05:30GM

EUR/USD - 1.2163.. Euro caught a small bid in Asian morning due to renewed usd's weakness n briefly penetrated Monday's 1.2168 high (Europe) to 1.2169, however, lack of follow-through buying triggered profit taking.

Outlook remains supportive for re-test of last Tuesday's fresh 10-week peak of 1.2181 after consolidation, however, loss of momentum is likely to limit upside to 1.2200/10 and reckon daily pivotal res at 1.2242 (Feb) should hold.
Bids are noted at 1.2150/45 n more below with stops below 1.2125 while offers are tipped at 1.2175/80 with stops above 1.2185. more stops are touted above 1.2200.

We have data dump in the euro area countries (pls refer to our EI page for details) n pay particular attention to EU Q1 GDP, a stronger-than-expected market forecast would give euro bulls reason to buy the single currency.
We have EU financial ministers' meetng n ECB President Lagarde will speak at an educational forum at 14:00GMT.

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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 2021 05:30GM

USD/JPY - 109.15.. Dlr pares overnight gain in NY session due to broad-based rebound in usd on the back of rally in U.S. yields (benchmark 10-year rose from 1.6199% to 1.6916%, circa 1.6608%) following release of hawkish Fed minutes which revealed several Fed officials were mulling changes to monetary policy (tapering) based on a continued strong economic recovery at last FOMC meeting.

Although intra-day pullback from 109.30 ahead of Tokyo open would bring range trading, as rally from 108.58 to 109.29 in New York session suggests recent correction from May's 1-month peak at 109.78 has ended, upside bias remains, above Wednesday's 109.33 would encourage for gain to 109.50, then re-test of said res.
Bids are noted at 109.10-00 with some stops reported below 108.80 while offers are tipped at 109.30/35 with stop above there.

On the data front, U.S. will release weekly jobless claims, continued jobless claims, Philly Fed mfg index and leading index change. Dallas Fed President Kapan (non-voter) will participate in a forum at 14:30GMT.
A lower-than-expected jobless claims would spur renewed buying in the greenback.

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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: 21 May 2021 05:30GM

USD/JPY - 108.87... Although dollar staged a strong rebound from Wednesday's 108.58 low to 109.30 in Australia yesterday on hawkish Fed minutes, renewed selling emerged and price later fell to 108.76 in New York due to drop in U.S. Treasury yields before recovering to 108.89 at Asian open today.

Yesterday's fall from 109.30 to 108.76 suggests recovery from 108.58 has ended and decline from May's 1-month peak at 109.78 would extend marginally, however, near term loss of momentum should keep price above 108.35/36 and yield another bounce later.
Offers are tipped at 109.00/10 with stops above 109.30 while bids are noted at 108.40-35 with stops below there.

On the calendar front, U.S. will release Markit manufacturing and services PMI at 13:45 GMT, followed by existing home sales at 14:00 GMT. We also have a few Fed officials scheduled to speak in New York session, please refer to our EI page for more details.

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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 2021 05:30GMT

USD/JPY - 108.93.. The pair maintains a steady to firm undertone in subdued Asian morning Monday after staging a rebound from 108.62 (Europe) to 109.00 in New York session on Fri due to broad-based usd's gain after upbeat U.S. PMI data.

As dlr's said rebound suggests further choppy trading above last week's low at 108.58 (Wednesday) would continue with upside bias, above 109.00 would yield gain to 109.30 (reaction high), break would encourage for further headway to 109.50/60.
Order board is fairly thin with bids noted at 108.85-75 n more below there with stops below 108.55 while offers are tipped at 109.00/05 with stops above there.

BOJ Gov. Kuroda will speak at a conference in Tokyo at 11:05GMT later.
No U.S. eco. data is due out today, however, we have a number of Fed officials scheduled to speak in New York session, pls refer to our EI page for details.

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AceTraderFx May 25: Intra-Day News and Views & data to be released today –EUR/USD

Intra-Day Market Moving News and Views
Update Time: 25 May 2021 05:30GMT

EUR/USD - 1.2225.. Euro maintains a firm undertone in Asian trading after yesterday's rise from 1.2173 (New Zealand) to 1.2229 in New York morning as intra-day drop in U.S. yields triggered risk-on trade n led to broad-based usd's selling, however, the single currency later moved narrowly in subdued New York afternoon.

As euro's choppy swings from last Wed's 4-1/2 month peak at 1.2245 is developing into a bullish triangle pattern, suggesting recent upmove would resume after consolidation, above said res would extend gain to 1.2270/80 but loss of upward momentum would cap price at 1.2300.
Order board is pretty thin with bids noted at 1.2205/1.2195 and more below with fairly large stops touted below 1.2160. On the upside, a mixture of offers and stops are tipped at 1.2245/50.
Pay attention to release of key German Ifo business climate index, May forecast is 98.2 vs prev. readings of 96.8, so if actual figure comes in as per street or better, then this would just be the ticket for euro bulls to push price above 1.2245.

On the data front, we have German Q1 GDP at 06:00GMT, then followed by Ifo data at 08:00GMT.
We also have ECB's board member Galhau n then ECB Chief Economist lane speaking at 13:00GMT n 14:00GMT respectively.

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AceTraderFx May 26: Intra-Day News and Views & data to be released today –EUR/USD

Intra-Day Market Moving News and Views
Update Time: 26 May 2021 05:30GMT

EUR/USD - 1.2244.. Euro is in holding pattern after hitting a fresh 4-1/2 month peak of 1.2266 shortly after New York open n despite intra-day pullback to 1.2227 on profit taking, price rebounded due to falling U.S. yields.

Current price action suggests as long as said New York low holds, recent upmove would head to projected target at 1.2280/90, however, loss of upward momentum should cap price below minor daily res at 1.2309 n yield a long-overdue correction.
Bids are noted at 1.2240-30 with stops touted below 1.2220 while offers are tipped at 1.2260/65 with stops above 1.2270.

On the eco. data front, the only indicators due out are France's consumer confidence and business climate, however, pay attention to speeches by a number of ECB officials in European session, please refer to our EI page for details.

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AceTraderFx May 27: Intra-Day News and Views & data to be released today –EUR/USD

Intra-Day Market Moving News and Views
Update Time: 27 May 2021 05:30GMT

EUR/USD - 1.2179.. The single currency gains no respite in early Asian trading after getting bashed on a double whammy in Wednesday's session. Price met renewed selling in Asia yesterday at 1.2262 n fell in Europe after dovish comments by ECB's Pannetta. Despite a short-covering bounce from 1.2218 to 1.2240 in New York morning, intra-day bounce in US yields knocked price to session lows of 1.2183.

Present break of said Wednesday's low of renewed usd's strength strongly suggests recent upmove has made a top at Tuesday's 4-1/2 month peak at 1.2266, a daily close below 1.2161 sup would bode ill for the euro n yield further weakness to 1.2104/07 later.
Offers are tipped at 1.2195/00 with some stops above 1.2220 whole bids are noted at 1.2170/60 with stops reported below there.

On the data front, we have German Gfk consumer confidence n then Italy's bus. n consumer confidence.
We also have a number of ECB official scheduled to speak in European session, please refer to our EI page for details.

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AceTraderFx May 28: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 28 May 2021 05:30GMT

USD/JPY - 109.87.. Dlr maintains a firm undertone in Asian morning after Thursday's impressive rise from 109.04 at European open, intra-day upmove accelerated in New York morning due to rally in U.S. yields (benchmark 10-year jumped from 1.571% to 1.625%), price penetrated previous May's 109.78 top to a 6-week high of 109.95, then marginally higher to 109.95 today.

A yesterday's break of 109.78 suggests correction from 2021 peak at 110.96 has ended, bullishness remains for further headway to 110.45/50 later today, so buying dlr on pullback is the way to go. Bids are noted a 109.80-70 and more below with stops below 109.50.
Offers are tipped at 109.95/00 with stops reported above there.

U.S. will release a slew of eco. data in New York morning, pay attention to PCE (Fed's favouite inflation n gauge) n core PCE at 12:30GMT, then later Chicago PMI n University of Michigan consumer confidence.
If actual readings come in better than street forecast, the pair will continue this week's rising trend.

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AceTraderFx May 31: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 31 May 2021 05:30GMT

USD/JPY - 109.70.. Dollar remains on the back foot in Asian trading following retreat from Friday's fresh 6-week high of 110.20 to 109.75 due to retreat in U.S. yields despite release of higher-than-expected U.S. inflation data.

As intra-day break of 109.75 to 109.66 on cross-buying in yen suggests recent upmove has made a temp. top and retrace. towards 109.58 (38.2% r from 108.57-110.20) can't be ruled out before prospect of rebound.
Offers are tipped at 109.90/95 with stop reported above 110.20 while bids are touted at 109.65/60 with stops below 109.50.

U.S. financial markets are closed for Memorial Day holiday, so no U.S. economic data is due out today

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