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

AceTraderFx Dec 16: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
16 Dec 2015 03:11GMT

GBP/USD - ....... The British pound traded in sideways manner throughout Asian n Europe yesterday and briefly edged up to session high at 1.5186 in New York morning.
However, broad-based rally in dlr triggered a selloff and price hit an intra-day low at 1.5030 near New York closing. Cable pared its losses and staged a short-covering rebound to 1.5054 in Asian morning today.

Pay attention to the release of UK claimant count and ILO unemployment rate at 09:30GMT.
Street forecasts are 1.5K n 5.3% vs previous readings of 3.3K and 5.3% respectively.

Offers are now seen at 1.5160/70 and more above at 1.5180/90 with stops building up above there whilst initial bids are noted at 1.4990/00, suggesting selling on recovery for a resumption of recent downtrend is favored.

AceTraderFx Dec 17: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
17 Dec 2015 01:36GMT

USD/JPY - ....... Despite a brief rise to 122.30 immediately after the Fed hike its rate by 25 bps, the greenback fell sharply to 121.38 as Fed Chief Yellen painted a more cautious picture about future rate hikes.
However, renewed buying there lifted the pair and dlr rallied to 122.43 near New York closing, then higher to 122.55 at Tokyo open and continues to trade with a firm bias.

U.S. will release its jobless claims read at 13:30GMT.
Street forecast is for a drop to 375K from previous figure of 382K.

Bids are now raised to 122.20/30 and more below at 122.00/10 with stops building up below there whilst initial offers are noted at 123.00/10, suggesting buying on intra-day dips is the favored strategy.

Data to be released on Thursday:

New Zealand GDP, Japan adjusted merchandise trade balance, merchandise trade balance total, exports, import, foreign investment in japan stocks, foreign bond investment, France business climate, Germany IFO current assessment, IFO expectations, IFO business climate, Italy global trade balance, trade balance EU, U.K. retail sales, retail sales ex-fuel, CBI industrial trends survey, Eurozone construction output, U.S. current account, initial jobless claims, continuing jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator.

AceTraderFx Dec 17: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
17 Dec 2015 02:00GMT
EUR/USD - ...... The single currency briefly spiked down to 1.0888 after the Fed hiked its interest rate by 25 bps before rallying to intra-day high at 1.1013 on comments from Yellen during her press conference.
However, renewed selling there sent the pair lower and euro tumbled to 1.0866 ahead of Asian open, then lower to 1.0854 in Asian morning.
Price continues to remain under pressure and edge lower steadily.

Pay attention to the release of IFO expectations and business climate at 09:00GMT.
Street forecasts are 105.0 and 109.0 vs previous readings of 104.7 and 109.0 respectively.

Offers are now lowered to 1.0880/90 and more above at 1.0910/20 with stops building up above there whilst initial bids are seen at 1.0800/10, suggesting selling on pullback is the way to go.

AceTraderFx Dec 17: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
17 Dec 2015 03:03GMT

GBP/USD - ...... The British pound tracked euro's intra-day moves and briefly spiked down to 1.4960 before rallying to 1.5100 post Yellen's comments.
Later, cable pared its gains and tumbled to 1.4983 near New York closing and continued to ratchet lower, hitting a low at 1.4957 in Asian morning today and continues to remain under pressure.

Pay attention to UK retail sales mm and yy at 09:30GMT.
Street forecasts are 0.5% and 3.0% vs previous readings of -0.6% and 3.8% respectively.

Offers are now lowered to 1.4980/90 and more above at 1.5000/10 with stops building up above there whilst initial bids are noted at 1.4900/10, suggesting selling on recovery for a resumption of recent downtrend is favored.

AceTraderFx Dec 18: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
18 Dec 2015 00:44GMT

GBP/USD -....... Cable staged a short-covering rebound to 1.4930 ahead of Asian open after conciliatory comments by U.K. PM Cameron, and continued its recent decline on renewed market jitter of a 'Brexit'.
David Cameron wants Britain to stay in the EU, but has hinted he could campaign for an exit if he fails to win an agreement that can reduce the influx of EU migrants, improve business competitiveness, give more sovereignty back to Britain and protect London's banks from discrimination by the euro zone.

His proposal to make European immigrants to Britain wait four years before claiming "in-work" benefits - income supplements to people in lower paid jobs - has been roundly criticised for breaking EU law banning discrimination.

An EU aide said Tusk wanted to give everyone a chance to speak their mind on Thursday night with a view to seeking a deal at the next summit in mid-February. Poland, Hungary, Slovakia and the Czech Republic, known as the Visegrad Group, said in a statement they would reject any British demand to change EU laws that would mean discrimination against their citizens or limit their freedom of movement.

Cameron presented his four-year proposal, but made clear that he was open to other ways to better control immigration to Britain. An EU diplomat said Cameron had earlier sat in silence for more than three hours while other EU leaders debated how to deal with a wave of migrants that has divided European governments. Britain has refused to take in any from Europe.

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

Intra-day Market Moving News and Views
18 Dec 2015 01:36GMT

USD/JPY - ......... The greenback found renewed buying at 122.22 at European open yesterday and resumed its recent ascent to intra-day high at 122.88 in New York afternoon on dlr's broad-based strength post Fed's hike.
However, profit-taking offers there capped gains and price retreated to 122.43 in Australia before stabilising in Tokyo morning.

BoJ will announce its rate decision at around 03:00GMT. Although no change is expected there, traders should pay attention to Governor Kuroda's press conference at 05:00GMT.
He may provide insights on whether the central bank will look to expand its QQE program.

Bids are now seen at 122.20/30 and more below at 122.00/10 with stops building up below there whilst initial offers are noted at 122.90/00, suggesting choppy trading could be seen.
Data to be released on Friday:

New Zealand ANZ activity outlook, China MNI business sentiment indicator, Japan BoJ interest rate decision, France producer prices, Italy wage inflation and Eurozone current account.

AceTraderFx Dec 18: Intra-Day News and Views (USD/JPY)

Intra-day Market Moving News and Views
18 Dec 2015 04:14GMT

USD/JPY - ..... Dlr swung 'wildly' after BoJ kept its rate decision unchanged as widely expected, however, the central bank surprised the market by extending its QE programme period, the pair fell initially to 122.36 abd then 'jumped' to intra-day high of 123.57 when the QE change was announced.
However, price then tumbled to 122.18 shortly afterwards.

Reuters then reported the Bank of Japan maintained its base money target under its massive stimulus programme on Friday but decided to expand the types of assets it purchases, targeting longer-dated government bonds and increasing its purchases of risky assets.

In a split vote, the BOJ set up a new programme buying exchange-traded funds and said it would extend the maturity of government bonds it buys to around 12 years, beginning next year.

The BOJ said the new measures were adopted to supplement the effects of its existing quantitative and qualitative easing programme.
BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. (06:30 GMT) to explain the policy decision.

AceTraderFx Dec 21: Intra-Day News and Views (USD/JPY)

Intra-day Market Moving News and Views
21 Dec 2015 1:01GMT

USD/JPY - ...... Dlr trades narrowly in early Asian morning on Monday following last Friday's intra-day sharp selloff from 123.57 (post-BOJ's rate decision's high) to as low as 121.06 in Europe.
Traders were perplexed by the intra-day 'wild' swings as market later came to the conclusion the BoJ effectively did not change its QQE programme after extending the maturity period of its bond purchases.

Despite present sideways move, Friday's 2% drop in the Dow and intra-day weakness in the Nikkie (currently down 366 points) should spur more yen-buying on risk aversion, so selling the greenback of recovery is favoured.

At present, offers are noted at 121.40/50 and more at 121.70/80 with some stops touted above 122.00. Some bids are reported at 121.10/00 with stops below there.

AceTraderFx Dec 21: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
21 Dec 2015 01:12GMT

EUR/USD - ....... Euro gained respite on Friday and staged a short-covering rise to 1.0875 in New York afternoon. Although short-term specs sold the pair in Australia on Monday after news of Spain's ruling party won in Sunday's election but short of a majority, ending the 2-party ruled.

Looks like sideways trading above last Thursday's 1-week low at 1.0802 would continue and market is trying to test the upside.
However, offers reported at 1.0875/85 (some stops are building above 1.0900) may well cap Friday's rebound and euro would ratchet lower in European session.
Initial bids are noted at 1.0850 and more below with stops below 1.0800.

Germany will release PPI data at 07:00GMT, then followed by EZ consumer confidence later at 15:00GMT.

AceTraderFx Dec 21: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
21 Dec 2015 02:39GMT

GBP/USD - ...... Cable also edged higher in tandem with eur/usd in Australia in thin Monday morning trading following Friday's close near the day's low of 1.4885 near New York close, suggesting sideways move is likely to continue in Asia until European open.

At moment, offers are noted at 1.4940/50 whilst initial bids are reported at 1.4885-65 area with stops below there, suggesting selling the pound on recovery for re-test of Thursday's fresh 7-month trough is favoured.

At 11:00GMT, CBI distributive trades survey will be released.
Germany will release PPI data at 07:00GMT, then followed by EZ consumer confidence later at 15:00GMT.

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

Intra-day Market Moving News and Views
22 Dec 2015 01:21GMT

USD/JPY - ........ Dlr pares yesterday's intra-day decline from 121.51 (Europe) to 120.84 ahead of New York midday as the greenback weakened broadly after release of weaker-than-expected Chicago Fed activity index.
However, rebound in the Dow boosted risk sentiment and triggered yen-selling.

Despite initial retreat from Australian high of 121.27 to 121.08, renewed yen-selling emerged and pushed the pair higher, suggesting consolidation above 120.84 would be seen with upside bias. Having said that, pay attention to key U.S. Q3 GDP n PCE data later today.

For now, bids are noted at 121.10-00 with stops below 120.80, however, good buying interest is touted above Dec's low at 120.35. On the upside, offers are reported at 121.50/60 and more above with stops above 121.80.

Data to be released on Tuesday:

China leading economic index, Germany consumer confidence survey, Swiss exports, imports, trade balance, U.K. consumer confidence, public sector net borrowing, U.S. GDP, PCE, Redbook, housing price index, existing home sales and Richmond Fed manufacturing index

AceTraderFx Dec 22: Intra-day Market Moving News and Views (GBP/USD)

Intra-day Market Moving News and Views
22 Dec 2015 01:00GMT

GBP/USD - ...... Cable edges higher after release of higher-than-expected UK consumer confidence at Asian open.

Reuters reported British consumer morale in December edged up from a six-month low in November, but households remain more worried about the economy than they were at the end of last year, a survey showed on Tuesday.

Market research firm GfK said its monthly consumer sentiment indicator rose to +2 in December from +1 in November, marginally stronger than a median forecast of +1 in a Reuters poll of economists.
"This is the first time since the Consumer Confidence Barometer started in 1974 that the Index has remained positive for an entire calendar year," Joe Staton, Head of Market Dynamics at GfK, said.

But optimism about the economy over the next 12 months was stuck at its lowest level since July 2013 at -6. In December of last year, the reading was a slightly less weak -5.
Staton said he was unable to comment on the reasons for the weak outlook.

Britain was the world's fastest-growing big, developed economy last year and has grown more quickly than most of its peers again in 2015. But while earnings are rising faster than almost non-existent inflation, growth in pay is much slower than it was before the financial crisis.

The GfK survey showed consumers were a bit less willing to spend on big-ticket items than in November.

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

Intra-day Market Moving News and Views
22 Dec 2015 01:37GMT

EUR/USD - ........ Euro was unfazed by weekend's Spanish election result in Monday's trading where ruling party lost majority.
Price met renewed buying at 1.0848 and climbed on downbeat U.S. Chicago Fed activity index, price penetrated Asian 1.0883 high to 1.0909, then later to session high of 1.0939 on continued broad-based short-covering in the euro.

Today, despite initial retreat to 1.0905/06 in early Asian trading, buying interest emerged and has lifted the pair, suggesting intra-day upside bias remains for further gain.
A mixture of selling interest and stops is reported at 1.0940 and more stops are touted above 1.0940.
Initial bids are noted at 1.0905-00 with some stops below 1.0880.

Pay attention to German Gfk Jan consumer confidence index at 07:00GMT, street forecast is looking for a reading of 9.3 vs the previous month reading 9.3.

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

Intra-day Market Moving News and Views
22 Dec 2015 07:36GMT

EUR/USD - ...... Euro pares yesterday's intra-day strong gain in New York session and retreated to 1.0903, however, release of slightly higher-than-expected German consumer confidence prompted renewed buying n lifted the pair in choppy European trading.

Reuters reported morale among German consumers improved heading into the new year and economic expectations saw a significant upswing, a survey showed on Tuesday, suggesting Europe's biggest economy is set for robust consumption growth in 2016.

The GfK consumer sentiment indicator, based on a survey of 2,000 Germans, inched up to 9.4 points in January from 9.3 points in the previous month.
That reading came in slightly above a Reuters consensus forecast of 9.3 points.

Confidence in the economy markedly increased by 8.2 points to a December reading of 2.9 point from its negative November reading, ending a six-month decline of the sub-index.
Brighter prospects for the economy and a robust labour market also prompted consumers to raise their income expectations in December.

Buerkl said Germans were preferring to invest their money in consumer goods rather than saving it due to the expansive monetary policy by the European Central Bank and its ultra-low interest rates.
Germans' willingness to make bigger purchases therefore maintained its high level and inched up to 49 points.
Although various international crises pose risks to consumer morale, Buerkl is optimistic about the next twelve months.

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

Intra-day Market Moving News and Views
23 Dec 2015 00:35GMT

USD/JPY - ...... Dlr remained under pressure in Tuesday's trading in Europe on Tuesday and weakened to session lows of 120.72 after a surprisingly large drop in U.S. existing home sales (Nov's 10.5% fall represents the steep decline in 5 years).
However, gain in the Dow prompted renewed yen-selling, lifting the pair back up to 121.10 right at New York close.

With Japanese financial markets closed today for Emperor's birthday, narrow moves in the dlr majors are expected until European open.
However, pay attention to release of a slew of U.S. data later today, especially November durable goods data at 13:30GMT, street forecast is looking for a 0.6% drop following previous month's reading of 2.9%, a worse-than-expected reading would trigger more dlr selling.

For now, bids are noted at 120.80-70 and more below (possibly from Japanese importers) with stops building below December's low at 120.35. On the upside, initial offers are reported at 121.10/20 and more at 121.30/40 with stops above 121.50.

Data to be released on Wednesday:

New Zealand imports, exports, trade balance, U.K. nationwide house price, GDP, current account, France GDP, consumer spending, Swiss KOF indicator, Italy industrial sales, industrial order, retail sales, U.S. mortgage applications, build permits, consumption, PCE, durable goods, personal income, personal consumption, new home sales, Reuters/ University of Michigan consumer sentiment index, Canada GDP and retail sales.

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

Intra-day Market Moving News and Views
23 Dec 2015 01:50GMT

GBP/USD - ...... Sterling is nursing yesterday's steep losses in subdued Asian trading on Wednesday. The pound came under surprise heavy broad-based selling pressure in European morning after data showed U.K. public finances worsened sharply in November (public borrowing climbed to 14.2 bln pounds - 10% higher then in the same month last year), cable later tumbled below last week's 1.4865 low to an 8-month trough of 1.4806 in New York afternoon before stabilising.

As yesterday's selloff started in Europe, unless London traders buy cable later in Europe, selling the pound on intra-day recovery is the way to go as the trend (downtrend) is your friend and cable may well continue its recent losing streak into X'mas.
Pay attention to release of final read of U.K. Q3 GDP as well as trade data, market is looking for a deficit of 21.5 bln pounds vs previous month's reading of 16.76 bln pounds.

Order board is pretty light with some offers noted at 1.4855/65 and a mixture of bids and stops near and below 1.4800.

AceTraderFx Dec 23: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
23 Dec 2015 02:00GMT

EUR/USD - ...... Euro finally pares yesterday's sharp gain to 1.0984 in New York morning and retreated to 1.0946 ahead of New York close. Looks like Asian trading would be pretty much subdued due to closure of Japanese financial markets and sideways move below said yesterday's high would be seen before prospect of further gain later today as firmer EZ bond yields (as the ECB has put a temporary halt to its asset purchase programme over the X'mas break) are lending further support to the euro.

Some bids are noted at 1.0940-30 and more below with stops touted below 1.0900.
On the upside, offers are reported at 1.0980/00 are with stops above 1.1015.
Reuters reported earlier the Euro zone bailout fund on Tuesday approved the payment of a 1 billion euro ($1.10 billion) aid tranche for Greece following Athens' completion of a second set of reforms.
The payment by the European Stability Mechanism (ESM) is the third disbursement of the initial loan sub-tranche of 16 billion euros agreed in August.

The payment had been provisionally approved by euro zone deputy finance ministers last week after Athens withdrew a disputed package of social justice measures from parliament.

AceTraderFx Dec 24: Intra-Day News and Views (USD/JPY) & data to be released today

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

USD/JPY - ...... Although Japanese financial markets returned from yesterday's holiday, trading today is likely to be lacklustre as many traders have already taken X'mas vacation but intra-day swings may still continue as Tokyo market is open on X'mas day.

Price has eased at Asian open due to renewed dlr's retreat vs its major peer currencies.
However, as yesterday's rebound from New York low at 120.82 suggests sideways move above Tuesday's bottom at 120.72 would continue and with Nikkie is trading high after o/n gain in U.S. stocks, consolidation with upside bias remains.

Bids are reported at 120.80-70 with stops below there, however, more buying interest is touted below there with stops building below last week's 120.35 low.
On the upside, initial offers are tipped at 121.10/20 with stops above 121.30, however, more selling interest is reported at 121.50/60, suggesting broad sideways move are expected to continue.
Pay attention to BoJ Kuroda speech scheduled at 04:00GMT and then U.S. weekly jobless claims later today at 13:30GMT.

Data to be released on Thursday:

Australia leading indicator, Swiss leading indicator, U.K. mortgage approvals and U.S. initial jobless claims

AceTraderFx Dec 24: Intra-day Market Moving News and Views (EUR/USD)

Intra-day Market Moving News and Views
24 Dec 2015 01:11GMT

EUR/USD -....... Trading the euro was tricky as despite continuing this week's rally to 1.0984 on Tuesday, the pair came under pressure on broad-based selling of euro in Asian and European sessions yesterday, price fell from 1.0958 (AUS) to 1.0914, despite staging a minor recovery to 1.0935.
Price tumbled to session lows of 1.0870 at New York midday after upbeat U.S. economic data but renewed buying quickly emerged and lifted the pair back up to 1.0924 ahead of New York close.

Euro's intra-day firmness suggests aforesaid pullback from 1.0984 has ended and consolidation with upside bias is in store. However, euro is expected to move inside 1.0984-1.0870 until major markets return next Monday.
For now, bids are noted around 1.0900-1.0890 and more below with stops touted below 1.0870, however, there is market of 'solid' bids above last week's 1.0802 low.
On the upside, offers are reported at 1.0935/45 and more above with stops building above 1.1000.

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

Intra-day Market Moving News and Views
28 Dec 2015 01:00GMT

USD/JPY - ....... Dlr trades above last Friday's 7-week trough of 120.06 in holiday-thinned Asian morning, with NZ & Australia together with many European centres (including U.K.) are still on holiday, sharp moves are unlikely to be seen and order flows may have strg influence on intra-day price swings.

Although dlr showed muted reaction to the release of downbeat Japanese data earlier, sideways move with mild upside bias is seen for a minor recovery.
However, recent decline is expected to resume later today. For now, some offers are noted at 120.40/50 with stops above 120.75, initial bids are touted at 120.10-00 with stop below 119.90.

Reuters just reported Japan's industrial output fell 1.0 percent in November from the previous month, government data showed on Monday, suggesting that sluggish emerging market demand continues to cloud the outlook for the economy.
The fall compared with a median market forecast of a 0.6 percent drop, data from the Ministry of Economy, Trade and Industry showed.

The retail sales also fell 1.0 percent in November from a year earlier, more than a median market forecast for a 0.6 percent decline, government data showed on Monday.
Manufacturers surveyed by the ministry had expected output to rise 0.9 percent in December and increase 6.0 percent in January.