Intraday trading signal - page 190
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AceTraderFx Sept 4: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
04 Sep 2015 02:00GMT
USD/JPY- ..... The greenback continued to edge lower yesterday and fell sharply to 119.64 in NY morning after data showed U.S. jobless claims rose to a 3-week high. However, price pared its losses and briefly rebounded to 120.39 on release of upbeat U.S. services PMI before retreating again.
Dlr met renewed selling at 120.19 in Aust. and dropped to 119.70 on position adjustment ahead of today's crucial U.S. jobs report.
Mkt focus is now solely on the release of U.S. jobs report at 12:30GMT. Street forecast for the NFP is a slight increase to 220K from 215K and the unemployment rate is expected to fall to 5.2% from 5.3%.
An upbeat report would bolster the case for an interest rate hike by the Fed this month.
Conversely a weak number would cloud the view for a September lift off.
Offers are now seen at 120.20/30 and more above at 120.40/50 with stops building up abv there whilst initial bids are noted at 119.30/40, suggesting further choppy trading is envisaged ahead of European open.
AceTraderFx Sept 4: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
04 Sep 2015 05:14GMT
EUR/USD- ..... The single currency is nursing its losses after yesterday's selloff to a fresh 3-month low at 1.1087 after ECB's Draghi gave a downbeat assessment of the euro zone economy and suggested the central bank may have to beef up its already massive stimulus program. Euro traded in sideways fashion in early Asian morning before edging up to 1.1139 in post Tokyo lunch session, however, renewed selling there pressured the pair lower again.
EU will release its revised GDP QQ and YY figures at 09:00GMT.
Street forecast is for the data to remain unchanged at 0.3% and 1.2% respectively.
Offers are now seen at 1.1140/50 and more above at 1.1160/70 with stops building up above there whilst initial bids are noted at 1.1070/80, suggesting selling on recovery is favored.
AceTraderFx Sept 4: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
04 Sep 2015 06:21GMT
USD/JPY - .......Breaking news fm Reuters:
IMF Japan mission chief says -
- see good chance of cutting Japan's GDP forecast for 2015, 2016 in IMF's next global economic outlook report
- BOJ should focus on inflation expectations in deciding whether to ease monetary policy, rather than underlying weakness in economy
- don't see need for BOJ to ease in October even if it cuts GDP, CPI forecasts, as long as inflation expectations are well anchored
- not clear whether BOJ alone can boost economy; efforts to change Japan's wage dynamics also critical
- benefit of loosening yuan's link to dollar gives Chinese authorities some independence to conduct their own monetary policy
- BOJ has responded appropriately so far to market volatility; for IMF, the best response for policymakers is to let exchange rates move
- exchange rate is not a target and has not been a target for BOJ
- ultimately a much freer determination of exchange rate is what they should do, when asked if China's yuan band has scope to be widened further
AceTraderFx Sept 4: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 04 Sep 2015 08:31 GMT
USD/JPY - 118.99
Despite the greenback's rally to 121.74 last Friday, intra-day sharp retreat suggests the 1st leg of correction from last Monday's low at 116.15 has possibly ended there and consolidation with downside bias would be seen for weakness towards 118.92.
However, steep fall below there is unlikely to be seen today and reckon aforesaid support should remain intact and yield a rebound later.
On the upside, only above resistance at 120.92 would indicate abovementioned pullback has ended and turn outlook bullish for a re-test of 121.74.
AceTraderFx Sept 4: Intra-Day News and Views (GBP/USD) & data to be released today
AceTraderFx Sept 4: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-day Market Moving News and Views
04 Sep 2015 08:39GMT
GBP/USD - ..... Despite staging a rebound fm y'day's low at 1.5219 to 1.5269 in NY afternoon, the British pound met renewed selling and dropped gain.
Cable continued to ratchet lower in Asian morning n hit a session low at 1.5214 in early European morning, weighed down by cross-selling of sterling vs euro.
However, price pared its losses and staged a short-covering rebound to 1.5266.
Offers are now seen at 1.5270/80 and more above at 1.5290/00 with stops building up above there whilst initial bids are noted at 1.5220/30, suggesting further choppy trading would be seen ahead of New York open.
British Retail Consortium (BRC) shop price index
British Retail Consortium (BRC) shop price index
A British measure of the rate of inflation at various surveyed retailers. This index only looks at price changes in goods purchased in retail outlets.
Some more information on BRC : https://en.wikipedia.org/wiki/British_Retail_Consortium
AceTraderFx Sept 7: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
07 Sep 2015 00:53GMT
USD/JPY - ..... Although the greenback opened slightly lower in NZ today, price staged a rebound to 119.31 at Asian open.
However, renewed selling there due to increased concerns that Fed won't hike its rate in September meeting following the release of poor NFP data together with early fall in Nikkei-225 index pressured the pair lower and dlr dropped to 118.80.
Trading is likely to be relatively thin today due to U.S. labour market holiday. Some offers are seen at 119.20/30 and more above at 119.40/50 with stops building up above there whilst initial bids are noted at 118.50/60, suggesting choppy trading is envisaged till European open.
AceTraderFx Sept 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 07 Sep 2015 01:29 GMT
EUR/USD - 1.1160
Despite the greenback's rally to 121.74 last Friday, intra-day sharp retreat suggests the 1st leg of correction from last Monday's low at 116.15 has possibly ended there and consolidation with downside bias would be seen for weakness towards 118.92.
However, steep fall below there is unlikely to be seen today and reckon aforesaid support should remain intact and yield a rebound later.
On the upside, only above resistance at 120.92 would indicate above mentioned pullback has ended and turn outlook bullish for a re-test of 121.74.
AceTraderFx Sept 7: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
07 Sep 2015 02:22GMT
EUR/USD - ...... The single currency is nursing its wounds after Fri's volatile moves following the release of mixed U.S. jobs report. Euro opened slightly higher in NZ n gained to 1.1174 at Asian open, due to the initial gains in stock marketts.
However, renewed selling there pressured the pair back lower to 1.1146 in Tokyo morning.
Pay attention to the release of Germany industrial production mm at 06:00GMT.
Street forecast is for a rise by 1.0% vs previous reading of -1.4%.
Offers are now seen at 1.1170/80 and more above at 1.1190/00 with stops building up below there whilst initial bids are noted at 1.1080/90, suggesting further choppy trading till European open is envisaged.