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

AceTraderFx Jun 13: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views
13 Jun 2016 03:20GMT

GBP/USD - ...... The British pound opened at 1.4270 (Reuters) in New Zealand and then fell below last Friday's 6-week trough at 1.4180 to 1.4159 in tandem with euro due to worries of Brexit before staging a recovery.

Due to the absence of economic events and data from U.K. today, the British pound is expected to track euro's intra-day swing closely, however, price is likely to move lower later due to intra-day weakness in sterling vs yen and euro.
So, selling on intra-day recovery is the way to go but reckon daily sup at 1.4091 would hold ahead of European open.

At present, offers from various accounts are reported at 1.4260-70 and more at 1.4280-90 with stops above 1.4300, whilst bids are noted at 1.4140-30 and then 1.4110-00 with stops below there.

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AceTraderFx Jun 14: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
14 Jun 2016 03:22GMT

GBP/USD - ...... Cable erased yesterday's gain in New York after price rebounded from a near 2-month European low of 1.4116 to 1.4330 in New York.

Traders reacted by buying sterling in New York morning when certain newswire erroneously reported the 'Remain' camp was 6 points ahead and that resulted in a fierce short-covering rally, price briefly fell back to 1.4201 after latest poll results showed the 'Leave ' camp was ahead, traders were in no mood of selling the pound after intra-day wild swings.

Latest polls results on Reuters as follow :
"Leave" on 46 pct, "Remain" 39 pct -YouGov poll; "Leave" on 49 pct, "Remain" 48 pct -ORB poll; "Out" on 53 pct, "In" 47 pct -ICM polls and Sun says UK must set itself free from "dictatorial Brussels".

Offers and bids...forget about them for the time being.
Pay attention to a slew of U.K. inflation data at 08:30GMT, however, market reaction from these data will only be very temporary.

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AceTraderFx Jun 15: Intra-Day Market Moving News and Views- USD/JPY

Intra-Day Market Moving News and Views
15 Jun 2016 01:15GMT

USD/JPY - ....... Despite dlr's fall below Monday's low at 105.74 to 105.63 in Europe yesterday, buying interest above May's 18-month trough at 105.55 lifted price and price later recovered to 106.18 in New York afternoon, then 106.21 at Asian open on Wednesday.

Today's market focus will be on the FOMC rate decision and FOMC economic projections at 18:00GMT, then the monetary policy statement and speech from Fed's chair Yellen at 18:30GMT.
Having said that, investors should also pay attention to the release of U.S. eco. data in New York morning, these include New York Fed Manufacturing, PPI, and Industrial Output M/M May.

The 'wait and see' mode ahead of the FOMC monetary policy decision suggests choppy sideways trading would be seen in Asian and European sessions, therefore, as long as above mentioned 105.55 low holds, buying dlr on dips is recommended.

At present, bids are reported at 105.90-80 and then 105.70-60 with stops below 105.50, whilst on the upside, offers are noted at 106.20-30 and more at 106.40-50 with stops above there.

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AceTraderFx Jun 15: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
15 Jun 2016 02:52GMT

EUR/USD - ....... The single currency fell below Mon's low at 1.1232 to 1.1208 in Europe yesterday as German 10-Year Bunds slipped into negative territory for the first time on record due to fears ahead of EU referendum.
Later, price dropped further to 1.1189 in New York morning after meeting renewed selling at 1.1241 before staging a bounce to 1.1220 on short-covering before moving sideways in New York afternoon.

Today, apart from the release of France's CPI at 06:45GMT, investors should pay attention to the speeches from Bundesbank's Weidmann and ECB's Constancio at 14:00GMT and 14:30GMT respectively.

At the moment, offers are reported at 1.1230-40 and more at 1.1250-60 with stops above there, whilst initial bids are noted at 1.1190-80 and then 1.1170-60 with stops below 1.1150.

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AceTraderFx Jun 16: Intra-Day Market Moving News and Views USD/CAD

Intra-Day Market Moving News and Views
16 Jun 2016 00:02GMT

USD/CAD - ....... Reuters then reported Canadian growth is likely to be flat or slightly negative in the second quarter due to the impact of the Alberta wildfires before an outsized recovery takes hold in the third quarter, remarks by the Bank of Canada.

In a speech that served as an update to the central bank's most recent forecast in April, Governor Stephen Poloz said that on the whole, the economy was making progress as it adjusted to low oil prices.

Poloz said that with the growth is expected to be "very choppy", the second and third quarters could still see an average growth rate close to the April outlook.
In his prepared remarks he said that continued patience is required, but they have the right to be optimistic. His message is that the process has been uneven, and probably will remain so, but they are making real progress now. He continued to say that nonetheless, the slumping investment spending plans in the energy sector and the possibility that households will suddenly curb their spending amid high debt levels present risks to the outlook.

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AceTraderFx Jun 16: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
16 Jun 2016 03:50GMT

EUR/USD - ..... The single currency ratcheted higher after holding above Tuesday's low at 1.1189 and later rallied to 1.1298 in o/n New York following the unchanged Fed's rate decision n the release of FOMC statement. Later, price retreated to 1.1248 on profit-taking before edging higher again in Asian morning on Thursday.

Today will see the release of euro zone's CPI for May at 09:00GMT. Market expects the inflation in euro zone to decrease to a monthly rate of 0.3% in May from 0.4% in preceding month.
Later, ECB's Mersch will give speech at 15:15GMT.

At present, bids are noted at 1.1250-40 and then 1.1230-20 with stops below there, whilst offers from various accounts are tipped at 1.1280-90 and more at 1.1300-10 with stops above 1.1330.

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AceTraderFx Jun 17: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
17 Jun 2016 01:52GMT

USD/JPY - ......The dollar fell to around a two-year low against the yen overnight after the BOJ held back from expanding stimulus as worries mounted over Britain's referendum next week on whether or not to stay in the European Union.
In Japan the MOF has jurisdiction over currency policy and intervention. The BOJ conducts intervention at the instruction from the ministry.

Japan has stayed out from the market since it last intervened in November 2011.
Japan's FinMin Taro Aso declined to comment when asked if the MOF and FSA have any contingency plans to avoid financial market turmoil in case of Brexit.

Reuters reported Aso on Friday fired off a warning shot against a recent rise in the yen, saying he was deeply concerned about "one-sided, rapid and speculative" currency moves and would respond urgently if necessary - a hint at possible yen-selling market intervention.
The latest jawboning - official comment intended to influence markets - comes as the yen hit multi-year highs versus the dollar and euro after the Bank of Japan stood pat on Thursday, despite market fears of global turmoil rout if Britain votes to leave the European Union in the June 23 referendum.

Officials from the Ministry of Finance (MOF), the Bank of Japan and the Financial Services Agency (FSA) would meet later today to discuss financial markets according to Aso.
While the government said the change in assessment was not a downgrade, it could fan more concerns that the BOJ will have difficulty reaching its 2 percent price target by March 2018.
Even as the BOJ stood pat, there were expectations that the central bank will ease further at its next meeting in July, when it issues fresh quarterly growth and inflation forecasts.

Some economists predict the central bank could take a three-pronged approach in July: increasing its already massive government bond purchases, buying more riskier assets and cutting rates further into negative territory.
Economists also worry that a firming yen, which makes imports cheaper, will further dampen inflation.

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AceTraderFx Jun 17: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
17 Jun 2016 04:20GMT

EUR/USD - ...... Euro is currently trading roughly where it was exactly 24 hours ago, however, the volatile swings in Thursday's New York session had whipped both euro bulls and bears.

Although euro met renewed selling right at European open at 1.1295 and fell in selloff in tandem with cable, decline accelerated after tripping stops below 1.1189 and hit a 2-week low of 1.1131, rally in cable shortly after European close triggered a wave of broad-based short covering rally in euro esp vs usd, yen and chf, price climbed to 1.1251 before easing but then rose again in tandem with cable to 1.1272 at Asian open.

Although yesterday's rally from 1.131 confirms recent decline has made a low there, there is market chatter of heavy offers at 1.1290/00, suggesting euro is susceptible to another stong retreat later today, so be nimble and be quick.

Bids are reported at 1.1225-05 area whilst offers are tipped at 1.1290/00 with fairly larges stops above 1.1310.

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AceTraderFx Jun 20: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
20 Jun 2016 01:39GMT

USD/JPY - ...... Dlr rebounded from 104.30 (Reuters) at New Zealand open and then climbed above Friday's high of 108.83 to 108.85 in Tokyo morning due to broad-based weakness in yen on reduced safe-haven demand as investors squarely focused on this week's Brexit vote n upbeat poll data for the "Remain" campaign.

Earlier, official data from Japan showed the country's trade balance fell to a seasonally adjusted 0.27 trillion yen in May, from 0.43 trillion yen in the preceding month. Separately, data showed that Japan's exports fell at the fastest pace in 4 months in May on supply chain disruptions from the ***amoto earthquake and slow growth in emerging markets.

At the moment, offers are noted at 104.90-00 n more at 105.10-20 with stops above there, whilst bids are reported at 104.60-50 and then 104.40-30 with stops below 104.20.

Ministry of Finance data showed today that Japan's exports fell 11.3 percent in May from a year earlier, as a strong yen and lacklustre growth in emerging markets curb demand for Japanese goods.
The fall was more than a 10.4 percent decrease expected by economists in a Reuters poll. It followed a 10.1 percent year-on-year decline in April.
While Imports fell 13.8 percent, matching the median estimate.
The trade balance came to a deficit of 40.7 billion yen ($389.10 million), versus the median estimate for a 40.0 billion yen surplus.

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AceTraderFx Jun 20: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
20 Jun 2016 08:09GMT

USD/JPY - ....... Bank of Japan Governor Haruhiko Kuroda said on Monday that it is difficult to present in advance specific policy options central banks have for contingencies given global economic uncertainties.
He said responding to deflationary pressures and firmly stabilising inflation expectations at desired levels has become an "unprecedentedly difficult challenge" not just for the BOJ but many other central banks.
Reuter then reported Japan's flexible exchange rate system serves the economy well and the government should rely on domestic policies, such as fiscal and monetary policy, to improve the output gap, an International Monetary Fund official said on Monday.

David Lipton, first deputy managing director of the IMF, also said that he understood the Japanese government's decision to delay a sales tax increase originally scheduled for next year but that the government would eventually have to raise taxes.

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AceTraderFx Jun 21: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
21 Jun 2016 01:09GMT

USD/JPY - ...... Dlr was under pressure in New York session due to broad-based rebound in yen vs other major currencies and briefly fell to 103.78 at Asian open following the release of latest BoJ minutes (see our previous MMN) before staging a recovery.

Although near term dlr's weakness suggests consolidation with downside bias would be seen in Asia and Europe, sharp fall below last Thursday's 22-month trough at 103.50 is not likely as investors are reluctant to enter large position ahead of the speech from Fed's chair Janet Yellen at 14:00GMT and 20:30GMT.

At the moment, offers are reported at 104.00-10 and more at 104.20-30 with stops above there, whilst bids are noted at 103.50-40 with mixture of bids and stops in the region of 103.20-103.00.

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AceTraderFx Jun 21: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
21 Jun 2016 03:08GMT

GBP/USD - ...... Although the British pound had risen again after a strong pullback from New York morning high of 1.4708 to 1.4583 and briefly climbed to a fresh session high of 1.4721 in o/n New York, some investors decided to take profit ahead of the 23rd referendum n price later retreated to 1.4635.

Today will see the release of UK's PSNB at 08:30GMT. Market expects the UK's PSNB to be 9.500 billion pounds in May compares to 6.582 billion in preceding month.

At present, offers are noted at 1.4680-90 and then 1.4700-10 with stops above 1.4721.
On the downside, bids are reported at 1.4620-10 and more at 1.4600-1.4590 with stops below 1.4580.

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AceTraderFx Jun 22: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
22 Jun 2016 02:09GMT

USD/JPY - ...... Although dlr ratcheted higher to 105.05 in New York following comments by Federal Reserve Chair Janet Yellen, price retreated to 104.62 ahead of Asian opening on Wednesday and then lower to 104.43 in Tokyo morning due to broad-based buying in yen on risk aversion.

Today's focus for the greenback will be on another speech from Fed's Chair Yellen at 14:00GMT, other than that, investors should also pay attention to the release of U.S.'s Monthly Home Price and Existing Homes Sales in New York morning.

At present, offers are reported at 104.70-80 and then 104.90-00 with stops above there.
On the downside, bids are noted at 104.30-20 and more at 104.10-00 with stops below 103.90.

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AceTraderFx Jun 23: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
23 Jun 2016 02:00GMT

USD/JPY - ...... Although increase of risk appetite following news of leading in 'Remain' camp in EU referendum triggered broad-based selling in yen and price rose briefly surged to 104.99 ahead of Asian open, selling interest below Tuesday's high of 105.05 knocked price down to 104.55.
Later, price rebounded to 104.87 and then retreated again following comments from BoJ board member Kiuchi (see our previous MMN).

Today, investors should pay attention to the release of a slew of U.S. economic data in New York morning, these include initial jobless claims (12:30GMT), Leading Index Change and New Home Sales (14:00GMT).

At the moment, bids are noted at 104.50-40 and then 104.20-10 with stops below 104.00, whilst on the upside, offers are reported at 104.95-105.05 and more at 105.20-30 with stops above there.

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AceTraderFx Jun 23: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
23 Jun 2016 04:03GMT

GBP/USD - ...... The British pound surged from 1.4700 to a fresh 5-month peak at 1.4847 ahead of Asian open today after the latest poll showing 'Remain' is taking the lead.
Later, profit-taking knocked price down to 1.4772 b4 edging higher again in Tokyo morning.

Although intra-day firmness in Asia suggests consolidation with upside bias would be seen, as investors are still awaiting a British vote on whether or not to remain in the European Union, sharp gain is not likely and price should falter below 1.4900.
Having said that, investors should also take note to the release of CBI Distributive Trades at 10:00GMT.

At present, bids are reported at 1.4780-70 and more at 1.4760-50 with mixture of bids and stops in the region of 1.4730-10.
On the upside, offers are noted at 1.4830-40 and more at 1.4850-60 with stops above 1.4880.

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AceTraderFx Jun 24: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
24 Jun 2016 02:03GMT

GBP/USD - ..... News about Brexit vote from Reuters: -implied probability of Leave vote in EU referendum at 44 pct
Earlier results:
-implied probability of leave vote 63 percent
-Remain on 47.3 pct, leave on 52.7 pct after 41 of 382 counting areas plus partial BBC Northern Irish figures
-Remain wins 168,335 votes in Glasgow, Leave wins 84,474 votes in EU referendum result
-Remain wins 118,463 votes in Wandsworth, Leave wins 39,421 votes in EU referendum result
-North Lanarkshire votes 95,549 to remain, 59,400 to leave
-Remain wins 58,942 votes in Wigan, Leave wins 104,331 votes in eu referendum result
-Remain wins 118,453 votes in Liverpool, Leave wins 85,101 votes in EU referendum result
-Remain wins 76,420 votes in Islington, Leave wins 25,180 votes in EU referendum result
-turnout stands at 72.1 pct after 200 counting areas out of 382 report turnout
-Remain on 48.5 pct, Leave on 51.5 pct, after 15 counting areas out of 382 declare
-Hartlepool unconfirmed result leave have taken more than 69 pct
-Remain has between 55 pct and 60 pct in Birmingham
-couple of London boroughs voted over 80 pct in favour of Remain
-Remain wins 30,748 votes in Basildon, Leave wins 67,251 votes in EU referendum result
-Remain on 50.3 pct, Leave on 49.7 pct after 19 of 382 counting areas plus further BBC Northern Irish figures
-Ex Scottish first minister Alex Salmond says Scotland looks like more than 60 pct for Remain
-city of London votes Remain
-Remain wins 3312 votes in city of London, Leave wins 1087 votes in EU referendum result
-Middlesborough 65.5 pct leave
-Flintshire votes leave
-Remain on 47.4 pct, leave on 52.6 pct after 26 of 382 counting areas plus partial BBC Northern Irish figures
please refer more earlier results from our home page (Intra-Day Market Moving News and Views).

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This morning Japan held emergency meeting on the aftermath due to Brexit

AceTraderFx Jun 27: Intra-Day Market Moving News and Views USD/JPY
27 Jun 2016 01:40GMT

USD/JPY - ......This morning an emergency meeting was called four days after Britain's historic vote to leave the European Union. Bank of Japan Deputy Governor Hiroshi Nakaso said that they will ensure liquidity in the yen and in foreign currencies if needed by tapping currency swap lines established among six central banks.
He saw no problems currently in market liquidity or in foreign currency funding among Japanese firms, but would continue to monitor the situation, he told reporters after an emergency meeting with Prime Minister Shinzo Abe and Finance Minister Taro Aso.

BoJ deputy gov Nakaso they have no comment on whether to hold extra policy meeting and don't see problem now in market liquidity, foreign currency funding by Japan firms.
While they will continue to monitor market situation, and will assure liquidity in foreign currencies by making use of currency swap arrangements among six central banks.

After the emergency meeting, Japan PM Abe told reporters that he had instructed Aso to take necessary steps in forex market, to focus even more closely especially attention to markets including forex. It is important for G7 to continue to send messages to stabilise markets. There are uncertainty, risks remain in financial markets and they expect BoJ to take steps to sustain market liquidity, financial intermediation

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

Intra-Day Market Moving News and Views
28 Jun 2016 01:40GMT

USD/JPY - ...... Despite ratcheting higher from Monday's low of 101.41 at New York open to 102.13 near New York close, dlr mat renewed selling in Australian morning and then fell to intra-day low of 101.56 as initial weakness in the Nikkei following Monday's selloff in European n U.S. equities triggered another round of yen-buying on risk aversion.
However, price briefly bounced back to 101.93 as the Nikkie erased half of its initial loss, suggesting choppy sideways swings are in store.

Unless we see global stick market rout today, the pair is expected to gyrate inside 102.47-101.41 range for now.
Offers are tipped at 101.90/102.10 and more above with stops touted above 102.50, initial bids are noted at 101.60-50 with stops below 101.40, however, more buying interest is reported above the 100 level.

Although market remains on the edge in the aftermath of 'Brexit' shock, if normality does resume later in the day, investors will pay attention to release of a slew of U.S. economic data with the reading of Q1 GDP at 12:30GMT, then Caseshiller home price followed later by consumer confidence.

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

Intra-Day Market Moving News and Views
29 Jun 2016 01:10GMT

USD/JPY - .....Today, Japanese Prime Minister Shinzo Abe at the start of a meeting between the government and the Bank of Japan to discuss market developments in the wake of the Brexit vote had urged the central bank to provide ample funds to the market to ensure liquidity and the market's intermediary functioning.
Abe also wanted Finance Minister Taro Aso to pay utmost attention to currency and financial market moves. The government was ready to take all available policy steps to support Japan's economy and small firms in the wake of Britain's shock vote to leave the European Union.

Abe commented that it is important for G7 to continue to deliver messages on market stability, with uncertainty, risks remain in financial markets but Japan is ready to mobilise all available policy measures to support Japan economy.

While today data showed Japan's retail sales fell more than expected in May in a third straight month of annual declines, keeping policymakers under pressure for more stimulus to support a fragile economic recovery.
Retail sales also fell 1.9 percent in May from a year earlier, more than a median market forecast for a 1.6 percent declines, data from the Ministry of Economy, Trade and Industry showed.
The weak reading underscores the relative fragility in Japan's economy, with slow wage growth and gloomy prospects of recovery weighing on household spending.

The market turmoil in the wake of Britain's vote to leave the European Union adds to headaches for Japanese policymakers worried about the drag the yen's recent rises could have on exports.

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AceTraderFx Jun 30: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
30 Jun 2016 02:05GMT

USD/JPY - ...... Although the greenback extended yesterday's intra-day rise to 103.02 in Australia, profit-taking knocked price lower to 102.61 in Tokyo morning, despite the release of weak industrial output figures from Japan.

In Asia, investors should pay attention to the release of Japan's housing starts and construction output for May at 05:00GMT.
Later, focus for the greenback should turn into the weekly initial jobless claims from U.S. and Chicago PMI in New York morning, then the speech from Fed's Bullard (17:30GMT).

At present, bids are reported at 102.50-40 and more at 102.30-20 with mixture of bids and stops in the region of 102.10-101.90.
On the upside, offers are noted at 102.80-90 and then 103.00-10 with stops above there.

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