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

AceTraderFx Jun 01: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views
Update Time: 01 Jun 2021 05:30GMT

USD/JPY - 109.40.. Dlr remains on the back foot due to renewed usd's weakness on the first trading day in Jun after Monday's resumption of decline from last Friday's fresh 6-week peak of 110.20 to 109.36 in holiday-thin N. American session.

Despite intra-day weakness, below 109.33 (previous res, now sup) needed to bring stronger retracement to 109.04, however, oversold condition would prevent steep fall.
Offers are tipped at 109.60/70 and more above with stops above 109.95/00 while some bids are noted at 109.35-30 with stops touted below there.

U.S. market will return after Monday's Memorial Day holiday, we have a slew of U.S. data together with a couple Fed officials scheduled to speak in New York session later today, please refer to our EI page for details.

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AceTraderFx Jun 02: Intra-Day News and Views & data to be released today –EUR/USD

Intra-Day Market Moving News and Views
Update Time: 02 Jun 2021 05:30GMT

EUR/USD - 1.2224.. Euro pares Tuesday's decline from 1.2254 to 1.2212 in volatile New York session and inches higher to 1.2226 in Asia, suggesting range trading is in store until European open.

As said fall from 1.2254 suggests further volatile swings below last Tuesday's fresh 4-1/2 month peak at 1.2266 would continue with downside bias, below 1.2204 would pressure price to 1.2184, then 1.2161/62 but reckon last week's low at 1.2133 (Friday) should remain intact.
Offers are tipped at 1.2230/40 with stops above 1.2270 while bids are noted at 1.2215/10 with stops touted below 1.2200.

On the data front, Germany will kick off with retail sales, then France's budget balance n later EU's producer prices. We have ECB's Elderson, ECB's Weidmann speaking later today and ECB President Lagarde will make a speech when she accepts a prize award, please refer to our EI page for details.

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

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

EUR/USD - 1.2210.. Trading the single currency proved to be tricky in roller-coaster Wednesday's session. Although price met renewed selling at 1.2226 in Asia and fell steadily to 1.2165 in Europe, euro pared intra-day losses and rebounded to 1.2218 in New York morning due to renewed usd's weakness on decline in U.S. yields.

As decline from this week's 1.2254 high (Tuesday) to 1.2165 yesterday signals choppy trading below May's 4-1/2 month peak at 1.2266 would continue, as long as 1.2254 holds, downside bias remains.
Offers are tipped at 1.2220/25 n more above with stops above 1.2265/70.
Bids are noted at 1.2190/85 n more below with stops below 1.2160.

Today is PMI day in the euro area countries (some regions in Germany are closed for market holiday). Italy will kick off with Markit services PMI, then the same from France, Germany n the EU. Germany EcoMin Altmaier will speak at 07:00GMT n later at 13:45GMT, ECB board member Elderson will speak at a conference.

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

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

EUR/USD - 1.2125.. Euro remains on the back foot in relatively subdued Asian trading after initial brief break of Thursday's 1.2119 low to a near 3-week trough of 1.2115 at Asia open, however, lack of follow-through selling lifted price to 1.2130.

Despite Thursday's intra-day wild swings in European morning (please read yesterday's news), euro's subsequent break of last Fri's 1.2133 low in New York on the back of rally in US yields after stronger-than-expected US ADP private payrolls confirms decline from May's fresh 4-1/2 month peak at 1.2266 has finally resumed, price is en route to next chart obj. at 1.2052 esp. if U.S. jobs report come in as per street forecast of stronger.
Offers are tipped at 1.2120/30 n more above with stops above 1.2165 while bids are noted at 1.2115/05 with stops below 1.2100.

On the data front, the EU will release April retail sales. We have a number of ECB officials as well as ECB president scheduled to speak in European session, please refer to our EI page for details.

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

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

USD/JPY - 109.57.. Dollar is nursing loss after Friday's fall from a near 2-month peak of 110.33 (Asia) to as low as 109.37 in New York morning on Friday as release of weaker-than-expected US. payroll and sharp fall in U.S. yields (benchmark 10-year, circa 1.5721% tumbled from 1.6350% to 1.550%) led to broad-based usd's bashing.

Although intra-day recovery 109.63 ahead of Tokyo open is likely to bring range trading ahead of European open, as said Friday's fall signals recent upmove has made a temp. top n stops below 109.30 are now in focus.
Offers are tipped at 109.60/70 with stops above 109.90 while bids are noted at 109.45/35 with stops below 109.30.

No U.S. econ. data is due out today so traders may take cue form intra-day move in U.S. yields.

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

Intra-Day Market Moving News and Views
Update Time: 08 Jun 2021 05:30GMT

EUR/USD - 1.2184.. Euro trades narrowly but with a soft undertone in Asia as intra-day rebound in usd/yen led to broad-based usd's firmness, suggesting sideways swings are in store until European open.

As the rally on Friday from 1.2105 to 1.2185, then 1.2201 (New York) on Monday suggests recent correction from May's 1.2266 peak has possibly ended, consolidation with upside bias remains for further gain.
Bids are noted at 1.2185/80 n more below with stops below Monday's 1.2145 low while offers are tipped at 1.2200/10 with stop touted above there.

The euro area countries will release a slew of economic data, please refer to our EI page for details. Pay attention to Germany's ZEW economic sentiment n current conditions as well as the same from the EU n EU revised GDP (all due out at 09:00GMT), if actual readings come in better than street forecast, then the single currency will rise against the greenback. We also have ECB board member de Cos n Fernandez-Bollo speaking in European session.

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

Intra-Day Market Moving News and Views
Update Time: 09 Jun 2021 05:30GMT

EUR/USD - 1.2181.. Euro trades narrowly in subdued Asian morning after swings sideways in directionless Tuesday's session.

As the early rally from Friday's near 3-week trough of 1.2105 to 1.2201 (Monday) suggests recent correction from May's fresh 4-1/2 month peak at 1.2266 has possibly ended, as long as 1.2145 (Monday low) holds, consolidation with upside bias remains, however, traders are keeping their powder dry ahead of Thursday's key ECB monetary policy announcement and U.S. inflation data.
Bids are noted at 1.2170-65 n more below with stops touted below 1.2145 and offers are tipped at 1.2195/00 with stop above 1.2205.

On the data front, Germany will release exports, imports, trade n current balance at 06:00GMT.
We have ECB member de Cos speaking at an economic forum as well as Germany's FinMin Scholz and Economy Minister Altmaier speaking at 11:15GMT n 14:40GMT rspectively.

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

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

EUR/USD - 1.2170.. Euro remains on the back foot in Asian morning after Wed's roller-coaster ride. Despite meeting renewed buying at 1.2172 (AUS) in Australian morning n a brief break of Monday's 1.2201 high to 1.2218 on the back of falling U.S. yields, the single currency then fell on safe-haven usd's buying due to intra-day decline in U.S. stocks.

As yesterday's retreat from 1.2218 suggests near term upmove from Friday's 1.2105 trough has made a top n sideways swings are in store as traders are keeping their powder dry ahead of key ECB monetary policy announcement at 11:45GMT, then post-ECB presser by ECB president Lagarde at 12:30GMT as well as the most awaited U.S. eco. data this week, annual CPI. If Lagarde hints at tapering of QE, euro will jump but if she avoids this topic and shrugs off recent rise in EU bonds yields n US CPI comes in as per forecast or higher, then the euro will fall.

On the data front, ahead of ECB announcement, we have France's non-farm payrolls, industrial output n the same same from Italy.

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

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

USD/JPY - 109.40.. Dlr moves narrowly in relatively subdued Asian morning after yesterday's 'wild' swings in hectic NY morning trading. Despite a brief jump in tandem with U.S. yields to 109.79 after U.S. CPI came in higher than market estimate, intra-day sharp fall in U.S. yields where benchmark 10-year tumbled to a 3-month low of 1.4318% (circa 1.4352%) knocked the pair down to 109.31.

As dlr's fall from 109.79 to 109.31 signals recovery from this week's low at 109.20 (Monday) has ended n recent decline would head to next obj. at 109.04, break would extend to 108.71/76 next week. Therefore, selling dlr on recovery in anticipation of such move is recommended.
Offers are tipped at 109.45/55 n more above there with stops above 109.80.
Bids are noted at 109.30-25 with stops below 109.20 n 109.00.

T.G.I.F., U.S. eco. calendar is pretty thin with University of Michigan consumer sentiment for Jun being the only data due out. Traders will continue to take cue from movement in U.S. yields n S&P 500.

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AceTraderFx Jun 11: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 11 Jun 2021 09:30GMT

USD/JPY - 109.49
Yesterday's fall from 109.79 to 109.31 in NY due to selloff in U.S. yields suggests early correction from this week's low at 109.20 (Mon) has ended and expect consolidation before decline from Jun's near 2-month peak at 110.33 resumes, however, loss of momentum should keep price above 108.71/75.

Only above 109.79 dampens bearish outlook and may risk stronger retracement to 110.00/10.

Data to be released on Friday :
New Zealand manufacturing PMI, retail sales.
Germany wholesale price index, UK GDP industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate.
Canada capacity utilization, and U.S. University of Michigan sentiment.

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

Intra-Day Market Moving News and Views
Update Time: 15 Jun 2021 05:30GMT

USD/JPY - 110.15.. The pair penetrates yesterday's 110.09 high (New York) on Tuesday after meeting renewed buying at 110.03 ahead of Tokyo open due to a bout of broad-based yen selling, boosted by Monday's rally in U.S. yields (benchmark 10-year rose from 1.455% to 1.502%, circa 1.485%).

As intra-day firmness suggests upside bias remains for re-test of June's 110.33 high would be forthcoming soon, however, overbought condition is likely to cap price below 2021 1-year peak at 110.96 (March) today.
Bids have been raised to 110.05-00 and more below with stops touted below 109.80 while offers are tipped at 110.20/30 with stops reported above 110.35.

The FOMC starts its 2-day policy meeting today and traders are also eagerly awaiting for release of the Fed's "dot plot" (economic projections) for clue of when tapering will take place.
On the economic front, we have a slew of eco. data, please refer to our EI page for details.

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

Intra-Day Market Moving News and Views
Update Time: 16 Jun 2021 05:30GMT

EUR/USD - 1.2118.. Euro is in holding pattern after staging a rebound from Friday's near 4-week trough of 1.2093 to 1.2148 (Europe) yesterday after tripping stops above 1.2130, however, renewed selling quickly emerged and knocked price back down to 1.2102 in New York morning but soft US data lifted price to 1.2130.

Expect sideways swings above 1.2093 to continue as traders are likely to keep their powder dry ahead of FOMC announcement and then post-FOMC news conference. As Fri's break of prev. June's 1.2105 low to 1.2093 confirms recent decline from 2021 peak at 1.2266 has resumed, downside bias remains for weakness towards next chart obj. at 1.2052, below would pressure price towards 1.1987 'later'.
Offers are tipped at 1.2130/40 with stops touted above 1.2150 while bids are noted at 1.2100-90 with stops below there.

The only eco. data due out today is EU Q1 labour costs. We also have ECB's Elderson and de Gunindos speaking at 08:30GMT and 09:00GMT respectively.
U.S. will release a slew of eco. data in New York morning (please refer to our EI page for details) which are likely to be ignored until FOMC announcemnet.

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

Intra-Day Market Moving News and Views
Update Time: 17 Jun 2021 05:30GMT

EUR/USD - 1.2004.. Euro is nursing Wednesday's huge losses vs usd, yen n sterling in Asia after extending marginal weakness below post-FOMC low at 1.1995 to a fresh 5-week trough of 1.1985, however, profit taking lifted the pair, suggesting range trading is in store until European open.

Having said that, as Wednesday's selloff below previous June's 1.2093 low to 1.1985 confirms recent erratic fall from 1.2266 (May) has once again resumed, further weakness to 1.1919 (61.8% r of 1.1705-1.2266) is not envisaged. Therefore, selling euro on recovery is the way to go.
Order board is pretty thin, some offers are tipped at 1.2020/30 with stops above 1.2050 while some bids are touted at 1.1990/85 with stops below 1.1980.

On the data front, we have a slew of data from euro area countries plus some ECB members scheduled to speak during the day, pls refer to our EI page for details. There is a Eurogroup meeting today and ECB President Lagarde will particiapte in that meeting too.

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

Intra-Day Market Moving News and Views
Update Time: 18 Jun 2021 05:30GMT

EUR/USD - 1.1918.. The single currency is nursing loss in quiet Asian morning after yesterday's selloff to a 2-month low of 1.1983 near New York midday and our intra-day short-term buy strategy in anticipation of a short-covering rebound was like catching a 'falling' knife as euro's recovery was both rapid and short-lived.

Intra-day sideways move suggests consolidation would continue until European open and as long as Thursday's New York high at 1.1950 holds, euro is en route to next daily downside obj. at 1.1868, however, o/sold condition should keep the pair above 1.1812 and risk has increased for a short-covering rebound to occur ahead of the weekend.
Offers are tipped at 1.1940/50 and more above with stops touted above 1.2010 while bids are noted at 1.1900-1.1890 with some stops below there.

On the eco. data front, we have germany's producer price n then EU's current account. EU Eco. Ministers will meet today n we have ECB's de Gunidos and de Cos scheduled to speak.

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

Intra-Day Market Moving News and Views
Update Time: 21 Jun 2021 05:30GMT

USD/JPY - 110.09.. Despite trading narrowly at Tokyo open following Friday's retreat from 110.48 to 110.05 on broad-based buying in yen due to risk-off trade (Nikkie currently down over 3% n have a 1-year low of 27,899), price edged lower in tandem with U.S. yields (benchmark 10-year hit a near 4-month low of 1.4095%, circa 1.4112%).

Although range trading is in store with near term mild downside bias due to renewed cross-buying in yen, as long as Friday's 109.95 low holds, consolidation with mild upside bias remains.
Offers are tipped at 110.30/40 with stops above 110.50 while bids are touted at 110.95/109.95 with stops reported below 109.80.

No eco. data is due out from the U.S. today, however, we have a number of fed officials scheduled to speak in New York session, please refer to our EI page for details. Pay attention to their comments as market reacted to St. Louis Fed President Bullard's hawkish comments in New York morning n bought usd broadly, pushing the dollar index to a 9-week high.

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

Intra-Day Market Moving News and Views
Update Time: 22 Jun 2021 05:30GMT

USD/JPY - 110.44.. The greenback swung wildly in hectic Mon session. Although price met renewed selling at 110.29 (New Zealand) n briefly tumbled in tandem with US yields (benchmark 10-year tanked to a near 4-month low of 1.3543%), price quickly pared intra-day losses n climbed steadily higher in tandem with US yields in Europe n later hit session highs of 110.34 in New York due to broad-based yen weakness on return of risk appetite due to rally in U.S. stocks (Dow n S&P closed up 1.76% n 1.40% respectively).

As Mon's rebound fm 109.72 to 110.43 in Tokyo morning today suggests pullback from Jun's 10-week peak at 110.82 has ended, upside bias remains for further gain, above 110.48 would encourage for further headway towards 110.82.
Bids are noted at 110.25-20a dn more below with stops touted below 110.00 while offers are tipped at 110.45/50 with some stops reported above there.

U.S. will release redbook sales, existing home sales n consumer confidence but market's main focus is the second day of a 2-day testimony by Fed Chairman J. Powell before the U.S. House of Representatives Select Subcommittee on the Coronavirus Crisis. The greenback will regain traction if he sounds slightly hawkish or usd will weaken further if the opposite scenario occurs.

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

Intra-Day Market Moving News and Views
Update Time: 23 Jun 2021 05:30GMT

EUR/USD - 1.1926.. Despite intra-day rally from European low of 1.1882 yesterday n subsequent firm break of 1.1921/25 res to 1.1952 due to broad-based usd's weakness after dovish testimony by Fed's J. Powell, the single currency pared Tuesday's gain n retreated in Asian morning to 1.1191.

As said yesterday's rise signals recent decline has made a temp. low at Fri's 2-1/2 month trough of 1.1848, consolidation with mild upside bias remains for stronger retrace. to 1.1980/85 but loss of upward momentum should cap price below res at 1.2009 n yield decline later today.
Bids are noted at 1.1920/10 with stops below 1.1900 n more below 1.1880 while offers are tipped at 1.1950/55 with some stops touted above there.

Today is PMI day in the euro area countries, please refer to our EI page for details. Pay attention to Germany n EU's Markit mfg n services PMIs, if actual readings come in stronger than street forecasts, euro will move marginally higher, if they are weaker than forecasts, then expect renewed selling to emerge. ECB Vice President de Guindos will speak at an economic forum at 07:30GMT n ECB President Lagarde will deliver a pre-recorded video message in an event at 16:00GMT.

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

Intra-Day Market Moving News and Views
Update Time: 24 Jun 2021 05:30GMT

EUR/USD - 1.1924.. Despite extending erratic rise from last Fri's 9-week trough at 1.1848 to 1.1969 in New York morning yesterday on continued usd's weakness after soft U.S. data, euro erased intra-day rise from 1.1911 (Europe) following hawkish comments by Fed officials (see earlier update) and fell to 1.1920 in late New York.

As euro's retreat from 1.1969 suggests correction from 1.1848 has possibly ended, consolidation with downside bias remains, below 1.1911 would add credence to this view n yield weakness to 1.1882 but reckon 1.1848 would hold today.
Offers are tipped at 1.1940/50 with stop above 1.1970 while some bids are noted at 1.1915/10 with stops below 1.1900.

On the data front, pay attention to release of key German Ifo business climate and current expectations for June at 08:00GMT, market is expecting upbeat readings which may briefly lift the euro. We also have ECB's Panetta n Schnabel scheduled to speak (refer to EI page for details).

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

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

EUR/USD - 1.1838.. Euro swung broadly sideways in directionless Thursday's session. Despite initial dip to 1.1919, price ratcheted higher in delayed reaction to upbeat German Ifo data to 1.1956 in New York but only to retreat to 1.1921.

Intra-day bounce to 1.1945 in Asia on usd's broad-based pullback suggests further range trading would continue in European morning as traders await release of a slew of U.S. data, in particular, y/y core PCE. As long as this week's high at 1.1969 (Wednesday) holds, consolidation with downside bias remains, below 1.1911 signals correction from last Friday's 9-week trough at 1.1848 has ended n heads back towards 1.1848 whilst above 1.1969 would risk stronger retracement of recent decline to 1.1985/90 but reckon res at 1.2006 should cap upside.
Offers are tipped at 1.1955/65 with stops above 1.1970 while bids are noted at 1.1925/15 with stops below 1.1900.

The euro area countries will release a slew if eco. data, please refer to our EI page for details n pay attention to German Gfk consumer sentiment. There is a European Council meeting today n ECB President Lagarde will participate in the Euro Summit. ECB member de Cos will speak at a conference at 10:30GMT.

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

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

USD/JPY - 110.68.. Although Friday's rebound in New York session from 110.49 to 110.87 in tandem with US yields suggests early pullback from Thursday's near 15-month peak at 111.11 has possibly ended, intra-day retreat die to broad-based buying in yen suggests further range trading may continue ahead of European open before prospect of another rise later today.

As the greenback was able to strength broadly on the back of rising yields (benchmark 10-year rose from 1.4783% to 1.5445%, circa 1.5292%), trading from long side in the way to go. Some bids are noted at 110.65/60 with stops below 110.45 while offers are tipped at 110.90/00 with stops above there.

U.S. eco. calendar is pretty thin with Dallas Fed mfg index being the only data due out, however, pay attention to further fed speak by a number of Fed officials in New York session (please refer to our EI page for details).

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