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AceTraderFx Apr 25: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 25 Apr 2016 09:13 GMT
USD/JPY - 111.14
Although dollar has extended erratic upmove from April's 17-month trough at 107.63 to 111.91 ahead of Asian open, subsequent intra-day cross-inspired retreat to 111.03 in Asia suggests a temporary top has been made and choppy consolidation would be seen, however, reckon 110.74 (previous resistance, now support) would hold and yield rebound later.
On the upside, above 111.91 would bring resumption of aforesaid rise to retrace Medium Term downtrend to 112.10/20 and then 112.50/60 later.
Only a daily close below 110.74 aborts and risks correction towards 110.28.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
consolidating with next article
AceTraderFx Apr 26: Intra-Day News and Views & data to be released today (USD/JPY)
Intra-Day Market Moving News and Views
26 Apr 2016 01:12GMT
USD/JPY - ....... Although price retreated after an initial rise to a fresh 3-week peak at 111.91 ahead of Asian open yesterday, renewed selling in yen contained intra-day weakness at 110.84 at New York open and price later recovered to 111.33 before edging lower to 110.96 in Tokyo morning on Tuesday.
Today's focus for the greenback will be on the release of U.S. durable goods orders and U.S. consumer confidence at 12:30GMT and 14:00GMT respectively. Market expects the U.S. durable goods orders in March to turn back into positive territory at +1.8% compare to -3.0% in preceding month, whilst consumer confidence to drop slightly to 96.0 in April from 96.2 in previous reading.
In addition, the Federal Reserve's Open Market Committee will start its regular monthly meeting today and announce its latest monetary policy decision n statement in New York afternoon on Wed.
At present, bids are reported at 111.00-110.90 and more at 110.80-70 with mixture of bids and stops at 110.60-40 region.
On the upside, offers are noted at 111.40-50 and then 111.60-70 with stops above 111.90.
Data to be released on Tuesday:
Germany import price index, Italy trade balance, U.K. mortgage approvals, U.S. building permits, durable goods, Redbook index, CaseShiller home price indices, U.S. Markit service PMI, consumer confidence and Richmond Fed manufacturing index.
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AceTraderFx Apr 26: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
26 Apr 2016 05:00GMT
GBP/USD - ..... The British pound rallied above previous intra-day high of 1.4575 to a fresh 10-week peak at 1.4520 in European midday on Monday as bets on Brexit eased after U.S. President Barack Obama voiced his support for Britain's staying in the European Union.
Later, cable retreated to 1.4463 in New York morning and then move sideways for rest of the session before edging higher to 1.4509 in Asian morning on Tuesday.
Today will see the release of BBA Mortgage approvals at 08:30GMT. Later, Bank of England Deputy Governor Jon Cunliffe will speak in London at 17:00GMT.
Cable's intra-day strength in Asia suggests consolidation with upside bias would be seen n therefore, buying the pair on dips is recommended but profit should be taken on next intra-day upmove as sharp gain above yesterday's 10-week peak at 1.4520 is not likely.
At present, bids are reported at 1.4480-70 and then 1.4460-50 with stops below there, whilst offers are noted at 1.4510-20 and more at 1.4530-50 region with stops above there.
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AceTraderFx Apr 27: Data to be released today
More intraday updates on USD/JPY will come next.
Data to be released on Wednesday:
New Zealand imports, exports, trade balance, Australia CPI, Japan all industry activity index, Germany Gfk consumer confidence, Swiss UBS consumption indicator, France consumer spending, Italy consumer confidence, business confidence, U.K. GDP, CBI distributive trades survey, U.S. mortgage application, goods trade balance, pending home sales and Fed's interest rate decision.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 27: Intra-Day News and Views (USD/JPY)
Intra-Day Market Moving News and Views
27 Apr 2016 02:12GMT
USD/JPY - ...... Dlr rebounded after a brief selloff to 110.67 in European morning yesterday due to renewed broad-based selling in yen on improved risk appetites. Later, price ratcheted higher to 111.47 in o/n New York before retreating to 111.14 shortly after Asian open on Wednesday.
Today, investors should pay attention to the release U.S. Pending home sales and U.S. trade balance for March in New York morning, then the announcement of latest Fed's monetary policy and statement in New York afternoon (18:00GMT and 18:30GMT respectively).
Having said that, the FOMC is expected to leave its benchmark rate unchanged in a range of 0.25% to 0.50% n with virtually no expectations for a rate increase, and no press conference or economic projections, it could be one of the most low-key Fed events.
At present, bids are noted at 111.10-00 and more 110.90-80 with stops below 110.60, whilst offers are reported at 111.30-40 and then 111.60-70 with stops above 111.90.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 27: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
27 Apr 201 03:00GMT
GBP/USD - 1.4586... The British pound extended its recent ascent against the usd and rallied to a high of 1.4640 in New York morning on Tuesday after release of poor U.S. durable goods data, however, IMC poll showed 'Out' campaign in the lead and price later retreated to 1.4565 in o/n New York before edging higher in tandem with euro after Asian open on Wednesday.
Today focus for the British pound will be on the release of UK GDP data in European morning (08:30GMT).
Market expects the UK's economic growth to slow down in the first quarter as weakening global growth has caused ructions in financial markets while fears that the country will leave the European Union after an in-out referendum in June prompted companies to hold back on investment and hiring also weigh on the prospects for the UK's economy.
At the moment, bids are noted at 1.4580-70 and then 1.4560-50 with mixture of bids and stops at 1.4540-20 region.
On the upside, offers are noted at 1.4610-20 and more at 1.4630-50 region with stops above 1.4670.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 27: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
27 Apr 201 09:00GMT
GBP/USD - ...... Despite cable's fall from 1.4622 to 1.4547 in European morning, price pared intra- day loss on short-covering after release of in-line U.K. GDP.
Britain's economy slowed in the first three months of the year and again leaned on the services sector for growth, according to official data on Wednesday.
The Office for National Statistics(ONS) reported that the first-quarter gross domestic product grew by 0.4 percent, down from 0.6 percent in the three months to December 2015 and in line with economists' forecasts of a 0.4 percent expansion,
and it had no evidence for or against the slowdown being linked to uncertainty around Britain's June 23 referendum on European Union membership, but business surveys suggest it is taking a toll on activity and investment.
The preliminary reading of gross domestic product does not include measures like investment and trade that would more readily reflect Brexit-related uncertainty, or a slowing global economy.
Output in the three months to March was 2.1 percent higher than a year earlier, matching the fourth quarter's growth rate that was also the weakest since the third quarter of 2013 but it was still slightly stronger than expected by economists.
The Bank of England has said that interpreting economic data in the run-up to the referendum is likely to be tricky but it has pointed to signs that uncertainty around the Brexit vote is weighing on business investment.
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AceTraderFx Apr 27 Intra-Day Market Moving News and Views- GBP/USD
Intra-Day Market Moving News and Views
27 Apr 2016 13:21GMT
GBP/USD - ...... The British pound proved quite tricky to trade today as despite initial sharp rebound to 1.4622 in early European morning, price tumbled to 1.4547. However, cable swiftly pared its losses n recovered to 1.4620 in European morning b4 retreating again on cross-selling of sterling especially vs euro.
Mkt focus is now Fed's rate decision later today, traders will be looking at the policy statement closely for hints on when the central bank wud hike its rate next.
Offers are now seen at 1.4590/00 n more abv at 1.4610/20 with stops building up abv there whilst initial bids are noted at 1.4520/30, suggesting further choppy trading wud be seen.
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
AceTraderFx Apr 28: Intra-Day Market Moving News and Views- EUR/USD
Intra-Day Market Moving News and Views
28 Apr 2016 02:18GMT
EUR/USD - 1.1307... Although the single currency rallied to 1.1363 after a brief fall to 1.1272 in post-FOMC New York session, price staged another bounce to 1.1342 and then ratcheted lower again after meeting renewed selling at 1.1331 ahead of Asian open on Thursday.
Although euro's intra-day weakness in Asia due to renewed broad-based gain in the greenback suggests consolidation with downside bias would be seen, sharp fall is not likely ahead of the release of a slew of economics in European morning, these include Germany's unemployment reports, euro zone's Business Climate, Economic Sentiment, Industrial Confidence, Services Sentiment, Consumer Confidence n Inflation expectation in European morning. Later, Germany will release its latest inflation reports at 12:00GMT.
Offers are noted at 1.1320-30 and then 1.1340-50 with stops above 1.1360, whilst bids are reported at 1.1290-80 and more at 1.1275/70 with stops below 1.1260, suggesting choppy sideways trading would continue.
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