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AceTraderFx Mar 21: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
21 Mar 2016 02:01GMT
GBP/USD - ..... Cable fell at New Zealand open on Monday and weakened to intra-day low of 1.4430 on renewed 'Brexit' concern. British PM David Cameron was forced into a hasty cabinet reshuffle on Saturday as the dramatic resignation of a senior minister threatened to widen divisions over Europe within the ruling Conservative party.
The rancorous departure of Work and Pensions Secretary Iain Duncan Smith, a leading campaigner for Britain to quit the European Union, also deals a blow to the political ambitions of finance minister George Osborne, commentators said.
Cameron and Osborne are both urging Britons to vote to remain in the EU in a June 23 referendum but many Conservative lawmakers and activists favour a "Brexit". The issue has riven the party for decades.
Duncan Smith in his resignation letter on Friday, cited cuts to disability benefits outlined in Osborne's annual budget last week, which also included tax cuts for richer households. He complained about pressure from the Treasury to cut welfare payments in order to meet fiscal conditions set out by Osborne.
Reuters reported a British vote to leave the European Union could cost the economy 100 billion pounds ($145 billion) and 950,000 jobs by 2020, according to research commissioned by employers' group the Confederation of British Industry (CBI).
The CBI said "Brexit" would deliver a serious shock to the British economy, regardless of any trade deals the country could negotiate with its former European partners.
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AceTraderFx Mar 21: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
21 Mar 2016 3:03GMT
USD/JPY - ..... Dlr trades with a soft bias in subdued Asian morning as final markets in Japan are closed for Vernal Equinox Day holiday.
Despite intra-day gain in the Nikkei futures following Friday's modest rise in the Dow, renewed wave of yen-buying on risk aversion has pressured the pair, however, Friday's erratic rise from 110.82 to 111.75 (New York) suggests choppy price swings above last week's 16-month bottom at 110.67 (Thursday) would continue.
Offers are tipped at 111.55/65 and more above with stops reported above 112.00, some bids are noted at 111.15-25 and more below with fairly large stops building below 110.60.
Data to be released:
EU current account, U.K. CBI industrial trends survey, U.S. Chicago Fed national activity index, existing home sales and consumer confidence on Monday.
Australia house price index, Japan Nikkei manufacturing PMI, all industry activity index, Swiss exports, imports, trade balance, Germany business climate, current assessment, expectations, ZEW economic sentiment, current situation, U.K. CPI, retail price index, producer price index, DCLG house price index, public sector net borrowing, Eurozone ZEW current situation, U.S. Redbook, housing price index and Richmond Fed manufacturing index on Tuesday.
Italy wage inflation, Swiss ZEW investor sentiment, U.S. mortgage applications and new home sales on Wednesday.
New Zealand exports, imports, trade balance, Germany GfK consumer sentiment, Markit manufacturing flash PMI, Markit service flash PMI, France business climate, Markit manufacturing flash PMI, Markit service flash PMI, Italy industrial orders, industrial sales, retail sales, Eurozone Markit manufacturing flash PMI, Markit service flash PMI, U.K. retail sales, CBI distributive trades survey, U.S. building permits, durable goods, initial jobless claims and Markit manufacturing flash PMI on Thursday.
Japan CPI, leading economic index, coincident index, France GDP, consumer confidence, U.S. GDP and personal consumption expenditures prices on Friday.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 21: Intra-Day Market Moving News and Views (USD/EUR) & data to be released today
Intra-Day Market Moving News and Views (USD/EUR)
21 Mar 2016 09:13GMT
EUR/USD - ...... Despite opening slightly lower in New Zealand, the single currency rebounded to 1.1285 in Asian morning on cross-buying in eur/gbp.
However, renewed selling there pressured the pair lower and price dropped sharply to session low at 1.1236 in early European morning and continues to remain under pressure.
Bids are now lowered to 1.1220/30 and more below at 1.1200/10 with stops building up below there whilst initial offers are noted at 1.1270/80, suggesting further choppy trading would be seen.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 22: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views (USD/JPY)
22 Mar 2016 02:38GMT
USD/JPY - Japan FinMin Aso told reporters after a cabinet meeting on Tuesday that the Japanese economy's fundamentals were firm and there was no need to adopt fresh fiscal spending to stimulate the economy, and they we need to continue to coordinate with the international community.
Aso made the remark when asked about growing calls in some quarters for Japan to take a leadership role as G7 chair in coordinating fiscal steps to boost domestic demand.
While their EconMin Ishihara speaking to reporters today that the effects of the Bank of Japan's surprise negative interest rate policy on Japan's real economy are not yet clear. They would need to monitor for about 3 months to see the effects of negative rate policy and to gauge the impact.
The BOJ unexpectedly cut a benchmark interest rate below zero in January, stunning investors with another bold move to stimulate the economy.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 22: Intra-Day Market Moving News and Views (USD/EUR) & data to be released today
Intra-Day Market Moving News and Views (USD/EUR)
22 Mar 2016 03:10GMT
EUR/USD -..... Euro stages a minor bounce in Asian morning after initial brief break of o/n New York low of 1.1234 to 1.1229/30 at Asian open. Although short-term specs sold euro on stop-hunting, lack of follow-through selling quickly lifted the pair, suggesting range trading with near term upside bias is in store.
Today is PMI day in Europe, France will release mfg & services PMIs at 08:00GMT, then followed by Germany at 08:30GMT and EZ PMIs will come in at 09:00GMT. Pay particular to release of important German Ifo business confidence index at 08:30GMT, street forecast for March is 105.8 vs previous reading of 105.7.
Offers are tipped at 1.1275/85 and more above with stops above 1.1300.
Bids are reported at 1.1230-20 and more below with fairly stops stops building up below 1.1200.
Data to be released on Tuesday:
Australia house price index, Japan Nikkei manufacturing PMI, all industry activity index, Swiss exports, imports, trade balance, Germany business climate, current assessment, expectations, ZEW economic sentiment, current situation, U.K. CPI, retail price index, producer price index, DCLG house price index, public sector net borrowing, Eurozone ZEW current situation, U.S. Redbook, housing price index and Richmond Fed manufacturing index.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 22: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
22 Mar 2016 04:20GMT
USD/JPY - ...... The pair trades with a firm undertone in Asian morning as o/n broad-based rebound in the USD and intra-day gain in the Nikkei has boosted risk sentiment.
Dlr climbed to 111.97 near New York close on Monday and price quickly rose above 112.00 in Australia after hitting stops above there and climbed to 112.22 at Tokyo open before a brief retreat to 111.84, however, buyers emerged and lifted the pair.
Bids are noted at 111.90-80 with stops below 111.50, some offers are tipped at 112.20/30 with stops above there.
The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) fell to 49.1 in March on a seasonally adjusted basis from a final 50.1 in February.
It fell below the 50 threshold that separates contraction from expansion for the first time since April last year.
The sub-index for new export orders fell to a preliminary 45.9 from 49.0 in February, which would indicate the sharpest contraction since January 2013 if confirmed by the final report.
Japan's exports fell for a fifth straight month in February, separate data from the finance ministry showed last week.
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AceTraderFx Mar 22: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 22 Mar 2016 10:05 GMT
USD/JPY - 111.67
The greenback's selloff last week and subsequent breach of February's trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction.
On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 23: Fed Reserve Bank Harker is optimistic that wage pressures will influence U.S. inflation measures
Intra-Day Market Moving News and Views
23 Mar 2016 00:12GMT
USD/MARJORS - President of Federal Reserve Bank of Philadelphia Patrick Harker in a meeting, telling the reporters that he is "pretty optimistic" that wage pressures will influence broader U.S. inflation measures, and that Fed should consider another rate hike if economy continues on path with all fomc meetings in play for future rate rise.
He will back more rate hikes than median Fed 'dots' forecast, the supported holding rates steady last week in part due to recent market volatility.
He added that the core inflation moving is in the right direction, and with the oil appears to have stabilized or bottomed, and that they need to continue to "get on with" rate hikes, economy resilient.
Further, he thinks that there is a strong case to continue to raise rates and a need to tighten moves that hang on economic conditions. They would prefer to hike rates more than twice this year, and it's ok to overshoot 2 pct inflation target.
With the monetary policy limited, that cannot boost U.S. growth potential, so a needed debate over potential growth at heart of debate within fomc.
He expects subdued growth over the next 2-3 years, and can sees possible 'slow-growth trajectory for some time to come'.
He also suggests tax, education measures that would boost long-term growth prospects.
More of his comments to follow.
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AceTraderFx Mar 23: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
23 Mar 2016 03:07GMT
USD/JPY - ..... Dlr pares o/n gain in New York afternoon session and trades sideways in Tokyo morning. Despite yesterday's intra-day selloff from European 112.18 high to as low as 111.38 due to active buying of yen on risk aversion following news of bombing attacks in Brussels, lack of follow-through selling in New York morning triggered short covering and intra-day gain gathered momentum on steady to firm performance in the Dow, the pair later climbed to session highs of 112.49 before ratcheting lower to 112.14 in early Asian trading on Wednesday.
Looks like range trading would continue until European open with bids noted at 112.15-00 area and some stops touted below there, offers are tipped at 112.50/60 with stops reported above 112.70.
As long as dlr is able to keep its foothold above the 112.00 level, buying on dips is still favoured.
Pay attention to comments by U.S. St. Louis Fed President James Bullard (voting member of 2016 FOMC) who will appear on Bloomberg TV at 13:00GMT.
Data to be released on Wednesday:
Italy wage inflation, Swiss ZEW investor sentiment, U.S. mortgage applications and new home sales
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 23: Intra-Day Market Moving News and Views (USD/EUR)
Intra-Day Market Moving News and Views (USD/EUR)
23 Mar 2016 03:53GMT
EUR/USD - ..... Euro continues to move narrowly in subdued Asian trading on Wed following intra-day relatively narrow movement in NY as traders assess the deeper impact of yesterday's terrorist attacks in Brussels.
Despite initial reaction of broad-based euro bashing on initial news of bombing attacks at Brussels' airport which sent euro tanking from 1.1260 to 1.1189 in European morning, short-covering lifted the euro steadily higher to 1.1239 in New York morning before erasing the intra-day gain.
Expect sideways move to continue as Asian traders are on the sideline n in absence of important EZ economic data, technical trading would have a more important influence on intra-day price move.
Offers are tipped at 1.1230/40 and more above with stops reported above 1.1260, some bids are noted at 1.1200/1.1190 with stops touted below 1.1180.
Germany's Bundesbank President n ECB Governing Council member Jens Weidmann will be speaking in Liechenstein at 12:40GMT.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates