Intraday trading signal - page 222
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IAceTraderFx Jan 8: Intra-Day News and Views (USD/JPY) & data to be released today
ntra-day Market Moving News and Views
08 Jan 2016 06:16GMT
USD/JPY - ...... Dlr trades relatively narrowly in post-Tokyo lunch session after intra-day rally from 117.49 to as high as 118.60 due to broad-based active cross-selling in yen after China CB fixed the mid-point rate of the yuan higher, this was the 1st time in 9 days. Intra-day relief rally in Chinese stocks (Shanghai composite is currently up 3.3%) after Chinese authority lifted the so-called circuit breaker mechanism to halt trading.
Looks like range trading within 118.00/60 range would continue as Asian traders are exhausted after 2 days of wild swings in early Asian trading.
However, European traders may well observe indicated range as next market focus is the release of key U.S. payrolls report. Street forecast for December jobs growth to be 200k n if the actual no. meets of beats estimate, then dlr will have more room to rally further to recoup this week's losing streak, on the other hand, if the data surprise to the downside, then another wave of broad-based dlr bashing would occur.
In the meantime, offers are tipped at 118.60/70 and more above with stops reported above 119.00.
Initial bids re touted at 118.00-117.90 and more below, suggesting consolidation with a firm bias is envisaged.
Data to be released on Friday:
Australia retail sales, Japan leading indicator, coincident indicator, Swiss unemployment rate, CPI, Germany imports, exports, trade balance, current account, industrial production, retail sales, France imports, exports, trade balance, Italy public deficit/GDP, U.K. goods trade balance, U.S. business optimism index, non-farm payrolls, unemployment rate, manufacturing payrolls, private payrolls, average earnings, wholesale inventories, wholesale sales, Canada unemployment rate, employment change, participation rate, full time employment change and building permits.
AceTraderFx Jan 8: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
08 Jan 2016 06:25GMT
EUR/USD - ...... Although the euro surged to session high off 1.0940 near New York close on Thursday on active short-covering in euro as investors covered euro shorts used for carry trades to buy U.S. stocks (USD) capitulated their portfolio when U.S. stocks continues their losing streak this week (The Dow was off 2.3% on Thursday), traders sold euro broadly after PBOC surprised the market by guiding the yuan's official mid-point rate lower, price tumbled below 1.0900, tripping some stops be low and euro weakened to 1.0872 before stabilising the offshore usd/cny rebounded after reported intra-day dlr selling by the Chinese CB.
Looks like the 1.0940 high print is here to stay until release of the key U.S. jobs report at 13:30GMT and consolidation with near term downside bias is seen esp if European stocks rebound at the open, therefore, selling the pair on recovery for short-term trade is favoured.
Offers are tipped at 1.0900/10 and more above with stops touted above 1.0950. initial bids are reported at 1.0875/70 with stops noted below 1.0820.
AceTraderFx Jan 8: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 08 Jan 2016 06:12 GMT
EUR/USD - 1.0880
Although euro's rally in Thursday's New York session from 1.0826 to as high as 1.0940 due to active short-covering in euro following continued weakness in the Dow confirms early decline from Dec's 1.1060 peak has ended at 1.0711 on Tuesday, intra-day sharp release due to broad-based rebounded in Asian stocks led by gain in the China stock markets suggests a temporary top has been made and choppy trading below 1.0940 is seen until release of key U.S. jobs report at 13:30GMT.
As long as 1.0771/74 sup holds, upside bias remains for another rise to 1.0940/46, break there would encourage for subsequent headway towards daily res at 1.0993. On the downside, a daily close below 1.0771 would shift risk to the downside and yield weakness towards 1.0711/16.
AceTraderFx Jan 11: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
11 Jan 2016 01:18GMT
USD/JPY - ...... Dlr is nursing loss in Asian morning (Japanese financial markers are closed for 'Coming of Age' holiday) after initial selloff below Friday's 117.23 low to a fresh 4-month trough of 116.69 in Australia. Traders cited renewed selloff in the S. African rand triggered renewed wave of unwinding of carry trades, triggering stop-loss selling in usd/yen.
Food for thought, Fri's CFTC report revealed Japanese net positioning turned net long for the 1st time last week since Oct 2012, this explains the previous mentality of selling yen for USD in anticipation of future U.S. rate hikes has proved to be wrong.
Expect minor calm b4 the storm as market participants await the official fixing of the yuan's mid-point rate at 01:15GMT as well as performance of Chinese stocks, so pay attention of the intra-day price swings in the CSI300 for clue.
Offers are noted at 117.35/45 and more above with stops above 117.60/70.
Some bids are noted at 117.00-116.90 and more below with stops touted below 116.60.
Data to be released:
New Zealand building permits, Swiss retail sales, Eurozone sentix investor confidence, Canada housing starts and U.S. employment trend on Monday.
Japan current account, trade balance, consumer confidence index, economy watchers poll, U.K. industrial production, ,manufacturing output, NIESR GDP estimate, U.S. business optimism index, Redbook and Canada manufacturing sales on Tuesday.
China exports, imports, trade balance, France CPI, inflation ex-tobacco, Eurozone industrial production, U.S. mortgage applications and budget on Wednesday.
Japan domestic corporate goods price index, machinery orders, machine tool orders, Australia unemployment rate, employment, Germany real GDP growth, Italy industrial output, U.K. bank rate, QE total, MPC vote, U.S. initial jobless claims, export prices, import prices and Canada new housing price index on Thursday.
Japan foreign bond investment, foreign investment in Japan stock, Australia home loans, France budget, Italy consumer price index, Eurozone trade balance, U.S. retail sales, producer price index, Empire State manufacturing index, industrial output, capacity utilization, Reuters/Michigan consumer sentiment index and business inventories on Friday.
AceTraderFx Jan 11: Daily Recommendations on Major -USD/JPY
Update Time: 11 Jan 2016 08:29 GMT
USD/JPY - 117.60
Despite dollar's intra-day initial selloff to a fresh 4-1/2 month trough at 116.69 ahead of Asian open, subsequent rebound above 117.00 level suggests recent decline has possibly made a temporary low there but a daily close above 117.95 is needed to confirm this view and yield stronger retracement towards 118.84 before prospect of a retreat.
Below 116.69 would confirm recent decline has once again resumed and extend weakness towards daily chart objective at 116.18 (2015 August low) later.
AceTraderFx Jan 12: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
12 Jan 2016 02:24GMT
USD/JPY - ...... Dlr rebounded after retreating from 118.03 to 117.19 in New York session on Monday and then climbed back to 118.03 again in Asia today due partly to comments from Dallas Fed President Robert Kaplan (see our prev. MMN) before retreating.
Focus of market participants for the greenback is on the speeches from Fed's Stanley Fischer, BoJ's Governor Kuroda and Fed's Lacker at 10:00GMT, 10:30GMT and 20:15GMT respectively, therefore, dlr/jpy pair is expected to continue to move sideways in Asia.
At present, bids are reported at 117.60-50 and then 117.40-30 with stops just below 117.20.
On the upside, offers are noted at 118.10-20 and around 118.30 with stops above 118.50.
Data to be released on Tuesday:
Japan current account, trade balance, consumer confidence index, economy watchers poll, U.K. industrial production, ,manufacturing output, NIESR GDP estimate, U.S. business optimism index, Redbook and Canada manufacturing sales.
AceTraderFx Jan 12: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
12 Jan 2016 03:05GMT
EUR/USD - ....... Although euro staged a rebound after retreating from yesterday's fresh 1-week peak at 1.0970 (Australia) to 1.0848 in New York morning, renewed selling below 1.0900 capped such recovery at 1.0899 and price edged lower to 1.0851 in New York afternoon, then marginally lower to 1.0841 in Asia on Tuesday due to dlr's broad-based rebound on comments from Fed's Kalpan.
In an absence of economic data from euro zone n its member countries today, investors should pay attention to the speeches from several ECB's official in a panel discussion at Farewell Symposium for Christian Noyer organised by Bank of France, theses include Bank of France Former Governor Christian Noyer, ECB Board Member Peter Praet, ECB Governing Council member Jens Weidmann, and ECB Executive Board Member Sabine Lautenschlaeger.
At present, offers are reported at 1.0870-80 and around 1.0900 with mixture of offers and stops at 1.0920-30, whilst on the downside, bids are noted at 1.0830-20 and then 1.0810-00 with stops just below 1.0790.
AceTraderFx Jan 12: Intra-day Market Moving News and Views USD/CNH
Intra-day Market Moving News and Views
12 Jan 2016 06:41GMT
USD/CNH(offshore) - 6.5760.. The yuan strengthened again in Asia on continued currency intervention by the PBOC. Reuters reported earlier China's offshore yuan was trading almost in line with its onshore counterpart on Tuesday, with the offshore yuan implied overnight deposit rate hitting a record high, indicating extremely tight liquidity outside the mainland.
China's offshore yuan implied overnight deposit rate hit a record high of 94 percent in Hong Kong on Tuesday, with analysts saying the spike was caused by the Peoples' Bank of China (PBOC) buying yuan offshore to support the currency which drained liquidity.
Hong Kong Interbank Offered Rates for offshore yuan also hit record highs on Monday, as a combination of intervention by China's central bank and arbitrage drained offshore yuan supply.
Prior to market open, The PBOC set the midpoint rate at 6.5628 per dollar, almost unchanged from the previous fix 6.5626.
The spot market opened at 6.5770 per dollar and was changing hands at 6.5717 at midday, only 0.03 percent weaker than the previous close.
The offshore yuan was trading 68 pips, or 0.1 percent softer than the onshore spot at 6.5785 per dollar.
The spread between onshore and offshore yuan hit its widest level in more than four years to more than 1,200 pips a week before, offering investors the opportunity to arbitrage the rate difference by paying off onshore debt with offshore yuan.
Still, some traders said that market's expectation of yuan's depreciation remained unchanged, given that the spread between forward rates in onshore and offshore market are still wide.
The onshore one-year forwards contract was trading at 6.6898, while the offshore one-year forwards contract was trading at a discount of 3.31 percent at 6.9115.
AceTraderFx Jan 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 12 Jan 2016 02:12 GMT
EUR/USD - 1.0848
Although euro's erratic fall to 1.0848 in New York session after yesterday's initial brief rise to a fresh 1-week peak at 1.0970 in Australia suggests upmove from December's bottom at 1.0711 has made a temporary top there, as long as support at 1.0803 holds, outlook remains mildly bullish for a rebound but only above 1.0934 would indicate pullback over and yield re-test of 1.0970, break would extend gain to 1.0993 and then 1.1013 later.
On the downside, below 1.0803 would dampen present bullishness on euro and yield weakness towards 1.0771 but aforesaid low at 1.0711 should remain intact.