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

AceTraderFx Oct 22: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
22 Oct 2015 01:20GMT

EUR/USD - ...... Despite a brief rebound to 1.1378 in early European morning yesterday, the single currency met renewed selling and fell sharply to 1.1334 before staging a minor recovery.
Renewed selling at 1.1364 in NewYork morning pressured the pair lower and euro dropped to 1.1330 at Asian open today.

Market focus is now on ECB's rate decision at 11:45GMT and President Draghi's press conference at 12:30GMT. Although it is likely that the central bank will announce no new stimulus measures, traders should pay attention to the language used by Draghi n hints about future easing measures.

Offers are now seen at 1.1360/70 and more above at 1.1380/90 with stops building up above there whilst initial bids are noted at 1.1300/10, suggesting choppy trading with downside bias would be seen ahead of ECB's decision.

AceTraderFx Oct 23: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
23 Oct 2015 01:12GMT

USD/JPY - ....... Although price edged lower to 119.61 in Asia yesterday, the greenback rallied to 120.76 at New York midday, helped by the release of upbeat U.S. housing and jobless claims data. Dlr continued to ratchet higher and rose to 120.99 at Tokyo open today, helped by the initial 400+ points rally in the Nikkei-225 index.
However, profit-taking offers there capped intra-day gains and price retreated in Tokyo morning.

U.S. will release its preliminary reading of manufacturing PMI at 13:45GMT. Street forecast is for a slight decrease to 52.8 fm prev. figure of 53.1.

Bids have now been lowered to 120.50/60 and more below at 120.20/30 with stops building up below there whilst initial offers are noted at 121.20/30, suggesting buying on intra-day dips is still favored.

Data to be released on Friday:

China house prices, Caixin manufacturing PMI, Makit manufacturing PMI and service PMI for France, Germany and euro zone, Italy industrial orders, retail sales, wage inflation, Canada CPI.

AceTraderFx Oct 23: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
23 Oct 2015 01:52GMT

GBP/USD - ....... The British pound traded with a firm bias in Asia and briefly rose to session high at 1.5510 in European morning on the release of upbeat UK retail sales.
However, the selloff in euro dragged cable lower and price tumbled to intra-day low at 1.5369 at New York midday, weighed by release of upbeat U.S. housing and jobless claims data.
Price found renewed buying at 1.5375 ahead of Asian open and gained to 1.5408 in Asian morning.
Since there is no eco. data due today, price is likely to track euro's intra-day movements.

Offers have now been raised to 1.5420/30 and more above at 1.5440/50 with stops building up above there whilst initial bids are noted at 1.5360/70, suggesting selling on pullback is favored.

AceTraderFx Oct 26: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
26 Oct 2015 01:01GMT

USD/JPY - ....... The greenback has finally retreated from 121.51 in thin trading conditions ahead of Australian open as New Zealand markets are closed for Labour day holiday and price retreated to 121.10 at Tokyo open on profit-taking offers. Dlr rallied from Friday's European low at 120.23 to as high as 121.47 in New York afternoon on improved risk appetite, triggered by interest rate cut from China's central bank together with rally in U.S. equities.

In the absence of major eco. data from U.S., orderbook is light with bids noted at 121.00/10 and some more below at 120.80/90 with stops building up below there whilst initial offers are noted at 121.50/60, suggesting mild upside bias would be seen.

Data to be released :

Germany Ifo reports, Bundesbank monthly report, UK BBA mortgage approvals, CBI industrial trends, U.S. new home sales on Monday.

New Zealand trade balance, Australia CPI, Switzerland UBS consumption indicator, UK GDP (prelim), U.S. durable goods orders, Redbook, building permits (revised) and consumer confidence on Tuesday.

New Zealand RBNZ rate decision, Japan retail sales, Germany Gfk consumer sentiment, France consumer confidence, Italy consumer confidence, business confidence, U.S. goods trade balance on Wednesday, Fed's interest rate decision on Wednesday.

Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. pending home sales on Thursday.

Japan all household spending, CPI, unemployment rate, construction orders, housing starts, New Zealand NBNZ Business outlook, UK GfK consumer confidence, Australia housing credit, PPI, France consumer spending, producer prices, Switzerland KOF indicator, Italy unemployment rate, CPI (prelim), producer prices, euro zone inflation (flash), unemployment rate, U.S. employment costs, employment wages, PCE, personal consumption real, personal income, consumption, core PCE, Chicago PMI, and Canada GDP on Friday.

AceTraderFx Oct 26: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
26 Oct 2015 01:33GMT

GBP/USD - ........ The British pound met renewed selling interest at 1.5419 ahead of New York open on Friday and tumbled in tandem with euro to 1.5307 near NEW YORK closing, then marginally lower to 1.5305 (Reuters) ahead of Australian open today.
However, cable pared its losses and staged a short-covering rebound to 1.5325 at Asian open.

As there is no major eco. data due from UK today, price cud remain under pressure due to comments from BoE's Carney released over the weekend, where he hinted that a rate rise is not a certainty and that it would be a gentle process when it does eventually happen.

Offers have now been raised to 1.5330/40 and more above at 1.5350/60 with stops building up above there whilst initial bids are noted at 1.5270/80, suggesting selling on recovery for a resumption of recent downtrend is favored.

AceTraderFx Oct 26: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
26 Oct 2015 09:11GMT

EUR/USD - ...... Euro eases in European morning after intra-day short-covering rebound from a fresh 2-month trough of 1.0991 (Austria) to 1.1056 just ahead of release of key German business confidence survey.

Reuters reported German business morale fell modestly in October, suggesting Europe's largest economy remains resilient in the face of a slowdown in China and emissions scandal at car maker Volkswagen.
The Munich-based Ifo economic institute's business climate index, based on a monthly survey of some 7,000 firms, dipped to 108.2 in October from 108.5 in September.
This was stronger than the 107.8 reading that was forecast by economists in a Reuters poll.
Ifo economist comments :

- German auto industry looks to be unfazed by Volkswagen scandal
- German economy is overall showing itself to be very resilient
- the domestic economy is the driving force
- emerging markets and us economy are dampening export expectations
- no effects from monetary policy from Fed and ECB are noticeable on Ifo index
- influx of refugees has had hardly any affect until now on Ifo index

AceTraderFx Oct 27: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
27 Oct 2015 00:46GMT

USD/JPY - ....... The greenback met profit-taking offers at 121.51 yesterday in Australia and continued to ratchet lower in Asia and Europe, eventually falling to session low at 120.60 in New York morning. Dlr briefly recovered to 120.10 in New York afternoon.
However, renewed selling interest capped recovery and price fell sharply at Tokyo open to 120.77 on broad-based buying of JPY.

There is a slew of U.S. eco. data to be released today, including durable goods, building permits, CaseShiller house prices, Services PMI n consumer confidence. Pay particular attention to the consumer confidence at 14:00GMT. Street forecast is for a slight decrease to 102.5 from previous reading of 103.0.

Offers are now lowered to 121.00/10 and more above at 121.20/30 with stops building up above there whilst bids are noted at 120.40/50 and more below at 120.20/30, suggesting initial downside bias would be seen but position traders should look to buy on intra-day dips.

Data to be released on Tuesday:

New Zealand trade balance, Switzerland UBS consumption indicator, UK GDP (prelim), U.S. durable goods orders, Redbook, building permits (revised) and consumer confidence.

AceTraderFx Oct 26: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
27 Oct 2015 01:36GMT

GBP/USD - ...... The British pound rose in tandem with euro to 1.5350 in European morning and despite a brief pullback to 1.5324 in New York morning, price rallied to session high at 1.5382.
However, profit-taking offers there pressured the pair lower and price retreated to 1.5343 in New York afternoon and continues to trade sideways in Asian morning.

Pay close attention to the release of preliminary GDP qq and yy at 09:30GMT. Street forecasts are 0.6% and 2.4% vs previous readings of 0.7% and 2.4% respectively.

Bids have now been lowered to 1.5330/40 and more below at 1.5310/20 with stops building up below there whilst initial offers are noted at 1.5380/90, suggesting choppy trading would be seen ahead of the GDP release.

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

Intra-day Market Moving News and Views
28 Oct 2015 01:11GMT
USD/JPY - ........ The greenback met renewed selling interest at 120.74 at European open n dropped to session low at 120.16 at New York open and continued to remain under pressure for remainder of the New York session as the Federal Reserve concludes its 2-day meeting today and announces its rate decision.
Despite a brief rebound to 120.55 at Tokyo open, dlr fell again to 120.24 in Tokyo morning on broad-based buying of jpy.

Mkt shifts to Fed's rate decision at 18:00GMT, however, it is widely expected there won't be any rate hike this month due to underlying concerns over a slowdown in China and the broader impact on global growth.

Offers are now seen at 120.50/60 and more above at 120.70/80 with stops building up above there whilst initial bids are noted at 119.90/00, suggesting downside bias would be seen, hence selling on intra-day pullback is favored.
Data to be release on Wednesday:

Japan retail sales, Germany Gfk consumer sentiment, France consumer confidence, Italy consumer confidence, business confidence, U.S. goods trade balance, and Fed's interest rate decision.

AceTraderFx Oct 28: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
28 Oct 2015 02:00GMT

GBP/USD - ......... The British pound met selling interest at 1.5359 in Asian morning and fell sharply to 1.5309 in European morning after data showed Britain's economic recovery slowed more than expected in the three months to September.
Price continued to ratchet lower and hit an intra-day low at 1.5283 in New York morning. However, cable pared its losses and staged a short-covering rebound to 1.5317 in New York afternoon. The pair has continued to trade in sideways manner in early Asian trade but yesterday's data should weigh on cable and pressure it lower.

Since there is no eco. data due today, price is likely to track euro's intra-day movements, however, traders should keep an eye on eur/gbp cross as well.

Offers are now seen at 1.5320/30 and more above at 1.5340/50 with stops building up above there whilst initial bids are noted at 1.5250/60, suggesting selling on recovery for a resumption of recent downtrend is still favored.

AceTraderFx Oct 29: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
29 Oct 2015 01:12GMT

USD/JPY - ........ Despite a brief spike down to 120.02 post FOMC's unchanged rate decision, the greenback surged to 121.26 in New York afternoon on an unexpectedly hawkish Fed, who said a rate hike in December is still on the table. However, price pared its gains and retreated to 120.91 near New York close, then ratcheted lower to 120.59 at Tokyo open on broad-based buying of jpy after the release of upbeat industrial output eased pressure on the BoJ to add to its stimulus measures.

The BoJ began its 2-day meeting today n will announce its rate decision tomorrow. Although it is widely expected that the central bank will not add to its already huge stimulus program, traders should pay attention to the language used by Kuroda in his press conference for an forward guidance.

Bids have now been lowered to 120.30/40 n more below at 120.10/20 with stops building up below there whilst initial offers are noted at 121.20/30, suggesting choppy sideways trading would be seen.

Data to be released on Thursday:

New Zealand RBNZ rate decision, Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. jobless claims, and pending home sales.

AceTraderFx Oct 30: Intra-Day News and Views (NZD/USD) & data to be released today

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Intra-day Market Moving News and Views
30 Oct 2015 01:03GMT

NZD/USD - 0.6731.. Kiwi staged a short-covering strong rebound from 0.6691 (AUS) to 0.6739 following release of upbeat data. Reuters reported New Zealand business sentiment rebounded in October thanks in part to a recent lift in dairy prices, a survey by ANZ Bank showed on Friday.

According to the report, a net 10.5 percent of firms are optimistic about the general economy, a huge turnaround from the net 18.9 percent pessimistic last month.

A net 23.7 percent of respondents expected their own businesses to grow in the next 12 months, up from 16.7 percent last month. Inflation expectations were little changed at 1.70 percent.

"It's hard to go past rebounding dairy prices as a key catalyst. However, the story is broader than dairy," ANZ said.
"The economy has an array of sectors that are doing well. Tourism inflows are buoyant. Housing strength has broadened beyond Auckland. Sentiment across the service sector is tops for confidence, activity, profits, employment and investment."

International milk prices have jumped around 60 percent from 12-1/2 year lows in recent auctions.


Data to be released on Friday:

New Zealand RBNZ rate decision, Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. jobless claims, and pending home sales.

AceTraderFx Oct 30: Intra-day Market Moving News and Views (USD/JPY)

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Intra-day Market Moving News and Views
30 Oct 2015 02:13GMT

USD/JPY - ...... The greenback is in holding pattern as market awaits BoJ's monetary policy announcement around Tokyo lunch time with trepidation. Market is fairly evenly divided whether BoJ will add more stimulus measure to induce price inflation after the Fed stood pat on its rate decision 2 days ago.

Our view is if the central bank increases its QE programme, the dlr will jump, if they don't, then we will see more broad-based yen buying which began ahead of Asian open today.

Until then, some offers are noted at 121.15/25 and more above with stops above this week's high at 121.51.
Initial bids are seen at 120.85/80 and more below with stops touted below 120.50, however, more buying interest is reported at 120.10-00.

AceTraderFx Nov 2: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
02 Nov 2015 01:05GMT

USD/JPY - ........ Despite intra-day gap-down open to 120.32 in New Zealand due to the release of weak Chinese data over the weekend, failure to penetrate Friday's low at 120.28 triggered short-covering and price rebounded to 120.58 ahead of Tokyo open.
However, dlr met renewed selling interest there as the Nikkei-225 index tumbled in early trade (currently down by close to 300 points) and continues to remain under pressure.

Pay attention to the release of ISM manufacturing PMI at 15:00GMT. Street forecast is for a slight drop to 50.0 from previous reading of 50.2.

Offers are now seen at 120.50/60 and more above at 120.70/80 with stops building up above there whilst initial bids are noted at 120.00/10, suggesting mild downside bias would be seen in Asian session.

Data to be released :

Australia AIG manufacturing index, building approvals, private house approvals, Japan Nikkei manufacturing PMI, China Caixin manufacturing PMI, Switzerland retail sales, Markit manufacturing PMI for Italy, Germany, euro zone and UK, Canada RBC manufacturing PMI, U.S. ISM manufacturing PMI on Monday.

Australia RBA cash rate decision, RBA rate statement, UK Markit/CIPS consutruction PMI, U.S. Redbook, durable goods revised, factory orders on Tuesday.

New Zealand HLFS jobs reports, labour cost index, Australia AIG service index, trade balance, exports, imports, retails sales, UK BRC shop price index, China Caixin service PMI, Japan consumer confidence, Markit service PMI for Italy, France, Germany, euro zone and UK, euro zone producer price, U.S. ADP national employment, internation trade, Markit service PMI, ISM non-manufacturing PMI, and Canada trade reports on Wednesday.

Japan BoJ monetary policy meeting minutes, Switzerland consumer confidence, CPI, Germany industrial orders, euro zone retail sales, U.K. BoE MPC vote outcome, BoE rate decision, U.S. initial jobless claims, and Canada Ivey PMI on Thursday.

Australia AIG construction index, Japan leading indicator, Germany industrial output, France budget balance, trade reports, U.K. Halifax house price, industrial output, manufacturing output, trade balance, U.S. non-farm payrolls, unemployment rate, average earnings, and Canada building permits, employment change, unemployment rate on Friday.

AceTraderFx Nov 2: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
02 Nov 2015 08:29GMT

EUR/USD - ...... Euro fell from intra-day European high of 1.1050 on dovish comments by ECB's Nowotny.
Reuters reported the European Central Bank must take action given inflation that is well below its target of just under 2%, Governing Council member Ewald Nowotny said in a newspaper interview published on Monday.

"The ECB must act," Nowotny was quoted as saying by the Kleine Zeitung newspaper when asked why the ECB was considering expanding its bond-buying programme. "But there are no decisions. There are discussions. I would advise more towards caution and a steady-hand policy."
The ECB is ready to do what it takes to keep its medium-term inflation target on course, its head Mario Draghi said in a newspaper interview published on Saturday.

AceTraderFx Nov 3: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
03 Nov 2015 01:01GMT

USD/JPY - ......... Despite yesterday's initial weakness to 120.26 in Asian morning, the greenback gained to 120.70 in European morning before easing. Dlr found renewed buying at 120.50 in New York morning and ratcheted higher to 120.81 near New York close, then 120.85 in thin trading at Asian open as Japanese markets will remain closed today for culture day holiday.

There is a slew of data to be released from U.S. today but traders should pay attention to release of factory orders at 15:00GMT. Street forecast is -0.9% vs previous reading of -1.7%.

Bids are now seen at 120.50/60 and more below at 120.30/40 with stops building up below there whilst initial offers are noted at 121.30/40, suggesting near term upside bias is seen, hence buying on dips is favored.

Data to be released on Tuesday:

Australia RBA cash rate decision, RBA rate statement, Japan's financial market closed for Culture Day holiday, UK Markit/CIPS consutruction PMI, U.S. Redbook, durable goods revised, factory orders.

AceTraderFx Nov 3: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
03 Nov 2015 02:00GMT

GBP/USD - ....... Despite opening higher in tandem with euro and rising briefly but sharply to session high at 1.5498 in European morning after release of a surprise upbeat UK manufacturing PMI, cable soon pared intra-day gains and later fell sharply to 1.5404 in New York morning, weighed down by active cross-unwinding (selling) of sterling vs euro.
Later, price found some support and recovered to 1.5428 in Asian morning.

Today will see the release of UK construction PMI at 09:30GMT (however, Wed's services PMI is most important). Street forecast is for a small drop to 58.8 from previous reading of 59.9.

Bids are now seen at 1.5400/10 and more below at 1.5380/90 with stops building up below there whilst initial offers are noted at 1.5480/90, suggesting near term upside bias is seen, hence buying on dips is favored.

AceTraderFx Nov 3: Intra-day Market Moving News and Views (AUS/USD)


Intra-day Market Moving News and Views
03 Nov 2015 07:00GMT

AUS/USD - ...... Aussie trades near Asian high of 0.7213 after RBAQ stood pat in its rate decision. Reuters reported earlier Australia's central bank kept its cash rate steady at a record low of 2.0 percent on Tuesday, but said subdued inflation meant there might be room for a further easing if needed to support the economy.

The Reserve Bank of Australia (RBA) disappointed some by not cutting straight away at its monthly policy meeting, though the shift to an explicit easing bias kept alive the prospect of a move at some stage.
In a brief statement, RBA Governor Glenn Stevens said the outlook for the economy had actually "firmed a little" in recent months with business conditions improving and employment stronger than expected.

"(Board) Members also observed that the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand," he added.
Debt markets seemed to suggest investors were not counting on the RBA cutting by year end. Interbank futures for December slid to imply around a 36 percent chance of an easing, from above 70 percent earlier in the day. A drop to 1.75 percent is fully priced in by April.

Since last easing in May, RBA officials have sounded reluctant to cut even further in part for fear of inflating a debt-driven bubble in home prices.

There have also been hopeful signs of a pick up in non-mining investment with business conditions, confidence and borrowing all improving.

Yet, speculation about a cut had mounted after Australia's major banks last month decided to lift mortgage rates in an effort to shield profits from rising regulatory costs.

A surprisingly low reading on price pressures out last week had added to the talk. Underlying inflation slowed to an annual 2.15 percent in the third quarter, near the floor of the RBA's long-term target band of 2 to 3 percent.

With the broader economy still weighed by falling mining investment and weak commodity prices, some analysts had argued an easing would be warranted in the next few months.

AceTraderFx Nov 4: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
04 Nov 2015 01:10GMT
USD/JPY - ........ The greenback found renewed buying at 120.60 in early European morning and rose to session high 121.23 New Yoyk morning on broad-based dlr strength.
However, profit-taking offers there pressured the pair lower n price retreated to 120.94 in New York afternoon. Later, price found renewed support and gained ahead of Asian open before rallying to 121.26 in Tokyo morning due to the 350+ points rally in Nikkei-225 index.

Market focus now shifts on Fed Chair Janet Yellen's speech at 15:00GMT, who will testify before the House Financial Services Committee on Federal Reserve actions and plans for bank regulation and supervision. Although the focus of the talk is not monetary policy, traders shouldd look out for any hints dropped by the Chief about a possible rate hike in December.

Bids are now seen at 121.00/10 and more below at 120.80/90 with stops building up below there whilst initial offers are noted at 121.70/80, suggesting buying on dips is the way to go.

Data to be released on Wednesday:

New Zealand HLFS jobs reports, labour cost index, Australia AIG service index, trade balance, exports, imports, retails sales, UK BRC shop price index, China Caixin service PMI, Japan consumer confidence, Markit service PMI for Italy, France, Germany, euro zone and UK, euro zone producer price, U.S. ADP national employment, international trade, Markit service PMI, ISM non-manufacturing PMI, and Canada trade reports

AceTraderFx Nov 4: Intra-day Market Moving News and Views (EUR/USD)

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Intra-day Market Moving News and Views
04 Nov 2015 01:32GMT

EUR/USD - ......... Despite edging up to session high at 1.1030 in early European morning, the single currency tumbled to intra-day low at 1.0936 in New York morning on dlr strength together with cross-selling of euro vs sterling.
Euro gained some respite and recovered to 1.0970 in New York afternoon, however, o/n dovish comments from ECB's Draghi (see prev. MMN) pressured the pair lower nand price dropped to 1.0945 in Asian morning.

Eurozone will release its final print for the services PMIs for several countries n majority of them are expected to come in unchanged. Elsewhere, ECB Chief Mario Draghi will speak at the ECB Forum on Banking Supervision in Frakfurt at 08:00GMT.

Offers have now been lowered to 1.0970/80 and more above at 1.0990/00 with stops building up above there whilst initial bids are noted at 1.0910/20, suggesting selling on recovery for a resumption of recent losing streak is favored.