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

AceTraderFx Jan 27: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
27 Jan 2016 03:33GMT

EUR/USD - ...... Trading the euro continues to be tricky as price swung wildly in reaction to intra-day wild moves in global stocks. Despite yesterday's initial gain to session high of 1.0874 at European open as Asian stocks tanked, rebound in crude oil prices lifted European equities and traders giving euro broad-based bashing vs usd and gbp, knocking price to 1.0819 but active buying of eur vs yen and chf (latter cross rallied to a 1-year high on market chatter of SNB's stealth buying) lifted price back up to 1.0871 ahead of New York close before easing in Asia today.

With no major EZ economic data due out today (except French n Italian consumer confidence), traders are expected to take cue from intra-day swings in oil n stock movement.
Offers are tipped at 1.0870/80 with stops above there, however, more offers are reported at 1.0900/20 area with fairly larges stops above there.
Some bids are noted at 1.0850-40 and more below with stops touted below 1.0815.

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

Intra-day Market Moving News and Views
28 Jan 2016 01:12GMT

USD/JPY - ..... Reuters just reported Japan's retail sales fell more than expected in December, data showed on Thursday, suggesting that sluggish household spending will keep fourth-quarter economic growth subdued.
While many analysts expect the Bank of Japan to hold off on additional monetary easing at its two-day rate review ending on Friday, the weak data will likely keep policymakers under pressure to do more to reflate a fragile economic recovery.

Retail sales fell 1.1 percent in December from a year earlier to mark the second straight month of declines, more than a median market forecast for a 0.1 percent decline. Japan's economy has emerged from recession but growth remains subdued as sluggish emerging market demand and slow wage growth weigh on exports and private consumption.

Policymakers hope that the windfall from falling energy prices will nudge households to boost spending, though some analysts warn that the economy may have suffered a contraction in October-December on weak household spending.

The global market rout has also heightened pressure on the BOJ to expand monetary stimulus, though many central bankers prefer to stand pat this week as they cling to the view Japan's economy continues to recover moderately.
The retail sales data foreshadow a run of indicators due on Friday, including inflation and household spending.

Data to be released on Thursday:

New Zealand exports, imports, trade balance, Japan retail trade, Australia import price index, export price index, Italy wage inflation, U.K. GDP, CBI distributive trade, Euro zone services sentiment, consumer confidence, industrial confidence, economic sentiment indicator, business climate, Germany CPI, Harmonised Index of Consumer Prices, U.S. initial jobless claims, durable goods and pending home sales.

AceTraderFx Jan 28: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
28 Jan 2016 03:06GMT

USD/JPY - ...... Dlr has swung wildly in early Asian trading. Despite o/n fall from post-FOMC 2-week high of 119.08 to 118.49 and then initial brief break of said New York low to 118.42 on weakness in the Nikkie at Tokyo open, recovery in Japanese stocks quickly triggered a wave of yen-selling vs usd, eur, gbp and aud, price staged a ferocious bounce to 118.93, forcing short-term dlr bears scrambling for cover.

Looks like dlr would swing inside said yesterday's high and today's Asian low and current move back into positive territory in the Nikkei suggests near term upside bias still remains.
Offers are tipped at 118.90/00 with some stops touted above 119.10.
Initial bids are reported at 118.50-40 with stops below there, however, more stops are noted below 118.00.

With Fed's FOMC meeting out of the way, traders will pay attention to release of a slew of U.S. data later today starting with the usual weekly jobless claims, the important Dec durable goods order and December pending home sales.

AceTraderFx Jan 28: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
28 Jan 2016 03:45GMT

EUR/USD - 1.0891.. The single currency has made positive gains in last 3 sessions this week despite intra-day swings and will the pair continues to ratchet higher again today.
Well, although buying euro on dips is still the preferred strategy, do not lose sight of the range of 1.0921-1.0776 set immediately after ECB President's dovish comments at last Thursday's post-ECB monetary policy meeting press conference.

Intra-day retreat after o/n jump to 1.0918 in post-FOMC New York high suggests this res may well hold until release of slew of EZ economic data starting with EU confidence index and more importantly, German January CPI, if the m/n inflation is below market consensus at -0.8% and y/y at 0.5%, then euro may come under selling pressure ahead of U.S. durable goods order.

In the meantime, offers are reported at 1.0910/20 with stops above there, however, more selling interest is tipped at 1.0970/80 with fairly large stops above 1.0985 (January high).
Bids have been raised to 1.0870-60 and more below with stops touted below 1.0820.

Pay attention to speeches by 2 ECB Governing Council member with Austrian National Bank Governor Ewald Nowotny speaking in Vienna at 16:30GMT followed later by Bundesbank President Jens Weidmann in Bonn at 18:00GMT

AceTraderFx Jan 28: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views

28 Jan 2016 05:09GMT
GBP/USD -...... Cable is nursing in subdued Asian morning following yesterday's intra-day wild swings end with an intra-day selloff from 1.4355 to as low as 1.4230 in New York morning due partly to active cross-selling in sterling vs eur and yen.

Yesterday's failure to re-test Tuesday's 1-week high and subsequent steep fall has put the sterling bears in control n the pound is expected to trade with a softish tone ahead of release of key U.K. Q4 GDP.
Street forecast for q/q reading to come in at 0.5% and y/y at 1.9%, if either or both readings miss estimates, then expect another round of sterling bashing to emerge immediately.

Offers are tipped at 1.4275/85 with some stops above 1.4300, some bids are reported at 1.4235-30 with stops below there, more stops are touted below 1.4170, suggesting selling the pound in intra-day recovery ahead of U.K. data is favoured.

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

Intra-day Market Moving News and Views
29 Jan 2016 01:19GMT

USD/JPY - ...... Japan released a key set of data ahead of BoJ's monetary policy decision around Tokyo midday. Reuters reported Japan's core consumer prices rose 0.1 percent in December from a year earlier, government data showed today.
The core consumer price index, which includes oil products but excludes fresh food prices, matched economists' median estimate for a 0.1 percent annual gain.

The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index used in the United States, rose 0.8 percent in the year to December.
Core consumer prices in Tokyo, available a month before the nationwide data, fell 0.1 percent in January from a year earlier, versus a 0.1 percent annual rise seen by analysts in a Reuters poll.

Reuters also reported Japan's industrial output fell 1.4 percent in December from the previous month, government data showed today, down for a second straight month in a sign that weakness in domestic and external demand is weighing on factory activity.
The reading compared with a median market forecast for a 0.3 percent decline in a Reuters poll of economists, data by the Ministry of Economy, Trade and Industry showed.
Manufacturers surveyed by the ministry expect output to rise 7.6 percent in January and decline 4.1 percent in February, the data showed.

Data to be released on Friday:

New Zealand building permits, Japan unemployment rate, jobs/applicants ratio, all household spending, CPI, industrial production, interest rate decision, housing start, construction order, Australia producer price index, U.K. consumer confidence, France GDP, producer prices, consumer spending, Swiss KOF leading indicator, Italy producer price index, Euro zone CPI, U.S. GDP, employment cost index, good trade balance, personal consumption expenditures prices, Chicago PMI, The Reuters/Michigan consumer sentiment index, Canada producer prices and GDP

AceTraderFx Jan 29: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
29 Jan 2016 02:32GMT

USD/JPY - ..... Despite initial brief bounce to 118.97 just ahead of Tokyo open, selling interest below yesterday's New York high at 118.99 quickly emerged n pressured price back to 118.66.
Looks like dlr would trade below Wednesday's 3-week high of 119.08 ahead of BoJ's monetary policy announcement which is expected to come out during Tokyo lunch session.

Market is expecting the central bank to stand pat on its rate decision but in the event BoJ 'tweaks' its stimulus measure(s), then trader's initial reaction would be to sell yen across the board.
On the other hand, if BoJ maintains its monetary policy totally unchanged, then be prepared for a swift broad-based strengthening of the yen but this may probably will not be long-lasting.

Offers are tipped at 118.90/00 with stop above 119.10, initial bids are noted at 118.60 and more below with stops touted below 118.40.
Hang in there and be nimble and be quick when announcement appears on the screen.

AceTraderFx Jan 29: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
29 Jan 2016 03:10GMT

EUR/USD - ...... Euro pares yesterday's intra-day relatively strong gain in New York session after downbeat U.S. durable goods order (December reading fell by the most since August 2014) and then lower-than-expected pending home sales data sent the single currency to a 2-week high of 1.0968.
However, lack of follow-through buying resulted in euro's erasing some of Thursday's gain.

Despite being the last trading day of the month, there is a slew of important EZ data due out in European session with France's GDP at 06:30GMT, then German retail sales n later important EZ Jan CPI at 10:00GMT.
If the data are supportive of the euro, then expect market to test Jan's high at 1.0985, however, if the data turn out to be weaker than forecast, then euro be be sold on long liquidation.

In the meantime, offers are tipped at 1.0960/70 and more above with stops above 1.0985, more stops (fairly large) are touted above 1.1000.
Initial bids are noted at 1.0930-20 and more below with stops below 1.0900.

AceTraderFx Feb 1: Intra-Day Market Moving News and Views- USD/CNH (offshore)

Intra-Day Market Moving News and Views
01 Feb 2016 01:21GMT

USD/CNH (offshore) - ...... Dlr climbed vs the yuan after official Chinese manufacturing data was released earlier than official release time. Reuters reported NBS Jan mfg index fell to a near 3-1/2 year low of 49.4 vs forecast of 49.6, previous month's reading was 49.7. In addition, NBS Jan non-mfg index came in at 53.5 vs previous month's reading at 54.4.
The antipodean currencies (aud n nzd) both fell to intra-day lows of 0.7043 and 0.6449 vs the usd respectively after the downbeat data.
Reuters reported this morning several major hedge funds are piling into bets that China's currency will decline against the dollar, according to the Wall Street Journal.

Hayman Capital Management has invested about 85 percent of its portfolio in bets against the yuan and the Hong Kong dollar, and Greenlight Capital holds options that pay off if the yuan falls. Hedge fund managers Stanley Druckenmiller and David Tepper have also taken positions against the Chinese currency.

The bets reflect the multitude of pressures on China's currency, including a slowing economy, unsteady financial markets and persistent capital outflows that have diminished the country's formidable foreign reserves.
At the same time, the U.S. dollar has risen steadily against other currencies as the relative strength of its economy has compelled the Federal Reserve to raise interest rates for the first time since the 2009 recession.

AceTraderFx Feb 1: Intra-Day News and Views (USD/JPY) & data to be released today

Intra-Day Market Moving News and Views
01 Feb 2016 01:46GMT

USD/JPY - ....... Despite opening slightly higher n gaining to 121.49 ahead of Tokyo open, the greenback met renewed selling and retreated to 121.10 in early Tokyo morning, in part due to risk aversion triggered by the release of weaker-than-expected Chinese services n manufacturing PMIs.

Bids are now lowered to 120.90/00 and more below at 120.70/80 with stops building up below there whilst initial offers are noted at 121.70/80, suggesting near term upside bias remains and buying on dips is favored.

Data to be released:

Australia AGI manufacturing index, TD securities inflation, China manufacturing PMI, non-manufacturing PMI, Japan manufacturing PMI, Swiss manufacturing PMI, France manufacturing PMI, Italy manufacturing PMI, Germany manufacturing PMI, Euro zone manufacturing PMI, U.K. manufacturing PMI, mortgage approval, U.S. personal consumption expenditures, personal spending, personal income, construction spending manufacturing PMI and Canada manufacturing PMI on Monday.

Australia interest rate decision, Swiss retail sales, Germany unemployment rate, unemployment change, Italy unemployment rate, Euro zone unemployment rate, producer price index, U.S. Redbook and ISM New York index on Tuesday.


New Zealand unemployment rate, job growth, Australia AIG service index, building permits, imports, exports, trade balance, China service PMI, Japan consumer confidence index, Italy service PMI, CPI, France service PMI, Germany service PMI, Euro zone service PMI, retail sales, U.S. mortgage applications, ADP employment change, service PMI, non-manufacturing PMI, participation rate and labour cost index on Wednesday.

Australia business confidence, Swiss consumer climate, U.K. Halifax house prices, U.K. Bank of England rate decision, MPC vote, U.S. initial jobless claims, unit labour cost, productivity and factory order on Thursday.

Australia retail sales, Germany factory orders, France imports, exports, trade balance, U.S. unemployment rate, non-farm payroll, average earnings, private payrolls, manufacturing payrolls, participation rate, trade balance, Canada imports, exports, international balance, participation rate, net change in employment and Ivey PMI on Friday.

AceTraderFx Feb 1: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
01 Feb 2016 03:22GMT

EUR/USD - ....... Although the single currency remained under pressure in early trade in New Zealand and weakened to 1.0815 ahead of Asian open, renewed buying interest abv Fri's low at 1.0810 lifted the pair n price pared its losses n rebounded to 1.0846 in Asian morning due partly to dlr's broad-based weakness.

Germany and EZ will release their manufacturing PMIs at 08:55 and 09:00 respectively.
Street forecasts are for both the figures to remain unchanged at 52.1 and 52.3 resp.

Offers are now seen at 1.0850/60 and more above at 1.0870/80 with stops building up above there whilst initial bids are noted at 1.0790/00, suggesting selling on pullback still remains the favored strategy.

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

Intra-Day Market Moving News and Views
02 Feb 2016 02:02GMT

USD/JPY - ...... Although the greenback dropped to session low at 120.67 in NY, weighed down by release of poor U.S. ISM manufacturing PMI, price rebounded to 121.17 in New York afternoon.
However, renewed selling there pressured the pair lower and dlr retreated to 120.82 ahead of Tokyo open and continues to remain under pressure in Tokyo morning as Nikkei-225 trades lower in early trade.

Since there is no major eco. data due today, traders are likely to continue trading based on their reaction to BoJ's surprise negative rate announcement.

Bids are now lowered to 120.70/80 and more below at 120.50/60 with stops building up below there whilst initial offers are noted at 121.40/50, suggesting buying on dips for a resumption of recent uptrend is still favored.

Data to be released on Tuesday:

Australia interest rate decision, Swiss retail sales, Germany unemployment rate, unemployment change, Italy unemployment rate, Euro zone unemployment rate, producer price index, U.S. Redbook and ISM New York index.

AceTraderFx Feb 2: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
02 Feb 2016 03:41GMT

EUR/USD - ...... The single currency traded with a firm bias in Asia and Europe yesterday n rose to session high at 1.0913 in New York morning, helped by dlr's weakness due to release of poor U.S. eco. data.
Despite a brief retreat to 1.0875 at New York midday, euro rebounded to 1.0906 in New York afternoon and continues to trade with a firm bias in Asian morning due to cross-buying in eur/gbp.

Pay attention to the release of Germany unemployment change and rate at 08:55GMT. Street forecast for unemployment change is -7K vs previous reading of -14K, whilst unemployment rate is expected to remain unchanged at 6.3%.

Bids are now raised to 1.0870/80 and more below at 1.0840/50 with stops building up below there whilst initial offers are noted at 1.0940/50, suggesting choppy trading with upside bias would be seen.

AceTraderFx Feb 2: Intra-Day Market Moving News and Views- EUR/USD


Intra-Day Market Moving News and Views
02 Feb 2016 09:10GMT

EUR/USD - ...... Although euro rose above yesterday's high of 1.0913 (New York) to 1.0919 in Asia, price retreated on renewed cross-selling in euro vs yen and then dipped to 1.0896.
Later, buying interest emerged around 1.0900 level and lifted price 1-tick above following the release of mixed Germany's unemployment reports.

On Tuesday, Germany's Federal Statistics Office said the unemployment rate fell to a seasonally adjusted 6.2% in January from 6.3% a month earlier. Market had expected the jobless rate to hold steady at 6.3% last month.
Meanwhile, data showed that the number of unemployed people decreased by a seasonally adjusted 20,000 last month, better than expectations for a drop of 7,000.
Jobless claims fell by 16,000 in December, whose figure was revised from a previously reported decline of 14,000.

At present, bids are noted at 1.0900-1.0890 and more around 1.0870 with stops below 1.0850.
On the upside, offers are reported at 1.0930-40 and then 1.0960-70 with stops above there.

AceTraderFx Feb 3: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
03 Feb 2016 01:20GMT

USD/JPY - ..... The greenback met renewed selling at 120.86 in Europe yesterday and tumbled to 119.84 near New York closing on risk-averse buying of yen due to the drop in oil prices n selloff in U.S. stocks.
Dlr has continued to remain under pressure and dropped further to 119.49 in Tokyo morning due to the selloff in Nikkei-225 index (currently down).
Just earlier BOJ released its minutes, Reuters reported Bank of Japan policymakers debated the feasibility of adopting supplementary steps for their massive stimulus programme, though they agreed that the broad price trend was improving steadily, minutes of their December rate review showed on Wednesday.
"The members agreed that there was no need to adjust monetary policy now as underlying trend inflation was improving steadily," according to the minutes of the Dec. 17-18 meeting.

A few of them said that fine-tuning the BOJ's "quantitative and qualitative easing" (QQE) would allow the central bank to swiftly ease if needed, the minutes showed.
At the December meeting, the BOJ adopted several steps to fine-tune QQE such as extending the average duration of government bonds it purchases. At a subsequent meeting in January, the BOJ stunned markets by deploying negative interest rates while maintaining QQE.

AceTraderFx Feb 3: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
03 Feb 2016 02:48GMT

EUR/USD - .... The single currency traded with a firm bias in Asia yesterday and gained in Europe, hitting session high at 1.0940 in New York morning, later, euro pared its gains and retreated sharply to 1.0892.
However, renewed buying there checked losses and price rebounded to 1.0936 in Asian morning today, helped by cross-buying in eur/gbp.

EU will release a slew of services PMIs but pay particular attention to Germany's n EZ's. Street forecasts are for them to remain unchanged at 55.4 and 53.6 respectively.

Bids are now seen at 1.0900/10 and more below at 1.0880/90 with stops building up below there whilst initial offers are noted at 1.0960/70, suggesting choppy trading with mild upside bias would be seen.

AceTraderFx Feb 3: Intra-Day Market Moving News and Views- GBP/USD

Intra-Day Market Moving News and Views
03 Feb 2016 04:07GMT

GBP/USD - ...... Despite initial sharp fall to 1.4327 in European morning on release of poor UK construction PMI data, the British pound pared its losses and rallied to session high at 1.4447 ahead of New York open on renewed optimism surrounding UK in EU talks.
However, lack of follow-through buying triggered profit-taking and price retreated to 1.4362 in New York morning before rebounding again. Cable found renewed support at 1.4391 at Asian open and continues to trade with a firm bias.

Pay attention to the release of UK services PMI at 09:30GMT. Street forecast is 55.3 vs previous reading of 55.5.

Offers are now seen at 1.4430/40 with stops building up above there whilst initial bids are noted 1.4380/90, suggesting choppy sideways trading would be seen ahead of European open.

AceTraderFx Feb 4: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
04 Feb 2016 01:33GMT

EUR/USD - ....... The single currency was also supported yesterday from an increase in EU retail sales. Euro zone retail trade increased in December mostly thanks to Christmas shopping of food, drinks and tobacco, the European Union statistics office Eurostat estimated on Wednesday.
Sales in the 19 countries sharing the euro grew on average 0.3% in December on a monthly basis, as expected by economists polled by Reuters.

Retail trade increased 1.4% year-on-year, slightly less than the forecast 1.5%.
Eurostat revised upwards both monthly and yearly estimates for the month of November. Month-on-month euro zone sales have been flat in November, contrary to previous estimates of a 0.3% drop. Year-on-year sales recorded in November a 1.6% rise, more than the previously estimated 1.4%.

The greenback tumbled against majority of its peers yesterday as New York Fed President William warned of tightening financial conditions.
Reuters reported, in an interview with MNI, Williams said financial conditions have tightened considerably in the weeks since the U.S. Federal Reserve raised interest rates and monetary policy makers will have to take that into consideration should that phenomenon persist.

AceTraderFx Feb 4: Intra-Day Market Moving News and Views (USD/JPY)

Intra-Day Market Moving News and Views
04 Feb 2016 02:23GMT

USD/JPY - ....... The greenback met renewed selling at 120.05 in early European morning yesterday and tumbled to 117.51 in New York morning, as comments from Fed's Dudley overshadowed the upbeat U.S. ADP jobs report.
Intra-day decliner accelerated and price dropped to session low at 117.06 in New York afternoon, however, price pared its losses and staged a short-covering rebound to 118.24 ahead of Tokyo open before retreating again.

Pay attention to the release of U.S. jobless claims at 13:30GMT.
Street forecast is for a slight increase to 280K from previous reading of 278K.

Offers are now seen at 118.10/20 and more above at 118.40/50 with stops building up above there whilst initial bids are noted at 117.20/30, suggesting selling for a resumption of recent downtrend is favored.

AceTraderFx Feb 4: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views
04 Feb 2016 03:20GMT

GBP/USD - ......The British pound surged from European low at 1.4385 to a fresh near 1-month high at 1.4649 in New York afternoon on dlr's broad-based selloff.
Later, price pared its gains and retreated to 1.4581 in Asian morning on profit-taking n continues to trade sideways.

Today is BoE's super Thursday n traders are awaiting the release of BoE's minutes n inflation report at 12:00GMT.
It is widely expected that the central bank will keep its policy unchanged but investors will look for hints in the 2 reports for any forward guidance from the bank.

Bids are now seen at 1.4550/60 and more below at 1.4530/40 with stops building up below there whilst initial offers are noted at 1.4330/40, suggesting choppy trading would be seen ahead of European open.