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AceTraderFx Mar 11: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
11 Mar 2016 08:01GMT
USD/JPY - ..... Reuters reported machinery orders to be released on Monday, Japan's leading indicator of capital spending, are expected to have risen modestly in January for a second straight month, but deepening concerns over economic prospects have cast doubt on a sustained recovery.
Exports were expected to fall for a fifth straight month in February as emerging economies such as China remained weak, while imports likely dropped for a 14 consecutive month on slack domestic demand and low oil prices holding down energy costs.
The poll of 19 economists found that core machinery orders, a volatile data series regarded as a useful leading indicator of capital spending in the coming six to nine months, were expected to rise 3.0 percent in January from December.
The Bank of Japan is set to hold off cutting interest rates at next week's rate review, sources told Reuters, as it works to soothe market jitters caused by January's surprise decision to adopt negative interest rates.
Japan chief govt spokesman Yoshihide Suga comment thaT given ECB's easing, THIS will continue to monitor its effect on world economy, market and he hopes ECB's easing will impact Japan and world economy favourably.
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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 14: Intra-Day Market Moving News and Views (NZD/USD) (USD/JPY)
Intra-Day Market Moving News and Views (NZD/USD) (USD/JPY)
14 Mar 2016 01:22GMT
NZD/USD - 0.6738.. Kiwi briefly fell to 0.6717/18 earlier today after statements by New Zealand cenbank. New Zealand's central bank reported on Monday that the inflation expectations are a key issue for monetary policy.
RBNZ Assistant Governor John McDermott noted Monday that the inflation expectations have fallen significantly recently across a range of measures, and this is a concern for the Bank, and this will contribute to the need for low interest rate settings.
Late last week the central bank surprised markets with a 25 basis point rate cut to 2.25 percent and signaled more to come.
McDermott said there has been a "material decline" in inflation expectations and they risk becoming embedded in future wage and price decisions. He said that if the recent material decline in a broad range of inflation expectations measures continues, the Bank would need to reconsider the outlook for interest rates.
Elsewhere in Japan Reuters reported this morning that Japan's core machinery orders rose a more-than-expected 15.0 percent in January from the previous month, Cabinet Office data showed on Monday, in a sign that rising business investment could support economic growth.
This rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, was much stronger than economists' median estimate for a 3.0 percent increase.
And compared with a year earlier, core orders, which exclude those of ships and electricity, rose 8.4 percent in January, versus a 3.6 percent decline seen by analysts.
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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 14: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
14 Mar 2016 02:13GMT
USD/JPY - ..... Dlr gains in Asian morning trading as rally in U.S. stocks lifted Asian stocks, boosting risk sentiment in Asia. The pair initially rose above Friday's New York high of 113.92 to in New Zealand and despite a brief retreat to 113.65 ahead of Tokyo open, buyers quickly emerged when the Nikkie opened higher (currently up 325 points at 17264), price climbed to 114.01 before easing.
Looks like dlr's daily swings are get to continue and although intra-day rise in Asian stocks should yield marginal dlr gain, offers are tipped at 114.20/30 and more above with stops reported above 114.60.
Bids are noted at 113.75-65 and more below with stops below Friday's New York low at 113.34.
U.S. had moved into summer time and set the clock faster by one hour on Sunday.
Data to be released:
Japan machinery order, China leading economic index, Eurozone industrial production and U.S. housing market index on Monday.
Japan BoJ rate decision, industrial output, capacity utilization, France CPI, Italy CPI, Eurozone employment, U.S. NY Empire State manufacturing index, producer price index, retail sales, retail control, Redbook, business inventories, Net TIC flows, overall net capital flows and foreign T-bonds buying on Tuesday.
New Zealand current account, Australia Westpac leading index, Japan industrial production, tertiary industry index, capacity utilization, Germany wholesale price index, Italy trade balance, U.K. unemployment, average earning, claimant count change, U.S. mortgage application, building permits, housing starts, CPI, manufacturing output, industrial output, capacity utilization, Fed interest rate decision and Canada manufacturing sales on Wednesday.
New Zealand GDP, Japan, exports, imports, trade balance, Australia employment, full time employment, participation rate, unemployment rate, Swiss producer and import prices, Italy trade balance, retail sales, Eurozone trade balance, CPI, U.K. BoE interest rate decision, MPC vote, QE total, U.S. current account, wholesales and leading indicator on Thursday.
Germany producer price index, Eurozone labour cost, U.S. Philadelphia Fed business index, Reuters/University of Michigan consumer sentiment index, Canada CPI and retail sales on Friday.
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 Mar 14: Intra-Day Market Moving News and Views (USD/EUR)
Intra-Day Market Moving News and Views (USD/EUR)
14 Mar 2016 04:03GMT
EUR/USD - ..... Euro opened lower on news of defeats in election results by the ruling CDU party on Sunday. Reuters reported Chancellor Angela Merkel's conservatives lost in two out of three state elections on Sunday as Germans punished her accommodative refugee policy with a big vote for the anti-immigration Alternative for Germany (AfD), exit polls showed.
The pair fell to 1.1135 before renewed buying emerged n later lifted price to 1.1176 ahead of Asian open, however, euro moved sideways in Asian trading as traders await reaction from European players when they come in, therefore, sideways swings are expected to continue.
Offers are tipped at 1.1180/90 with stops above 1.1200, more stops are reported above last week's high at 1.1218.
Initial bids are noted at 1.1235-25 with some stops below 1.1220, more stops are touted below Friday's 1.1080 low.
The only economic data due out today is EZ industrial production, January's M/M is expected to come in at -0.1% vs previous reading of -1.3%.
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AceTraderFx Mar 14: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views (GBP/USD)
14 Mar 2016 05:18GMT
GBP/USD - ..... A piece of sterling-bearish news worth noting. Reuters reported the Scottish National Party (SNP) will start building a new case for independence from the United Kingdom this summer, party leader and Scottish government head Nicola Sturgeon said, however, that a second Scottish referendum after the one the party lost in September 2014 would not take place quickly.
Sturgeon told 3,000 delegates at the SNP's spring conference, that they wanted to be in the driving seat of our own destiny, and they will not achieve their dream of independence just by wishing that the outcome of the referendum had been different. Or wishing they could do it all again next week.
"This summer the SNP will embark on a new initiative to build support for independence," she said, to a standing ovation.
While U.S. President Barack Obama will come to London in April and urge British voters to back continued membership of the European Union.
Britons vote in June on whether to remain part of the world's biggest trading bloc and Obama has previously said he wants Britain to stay in the EU and help maintain the post-war transatlantic partnership.
But most opinion polls show voters are split with a large number of people as yet undecided.
Obama is due to attend a technology fair in Germany in late April and a source said he would visit the British capital around that time.
The White House declined to comment and Prime Minister David Cameron's office did not offer an immediate comment when contacted.
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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 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 14 Mar 2016 08:41 GMT
USD/JPY - 113.74
As price has ratcheted higher in Asia today to 114.01 following last Thursday's selloff from 114.45 to 112.61, suggesting choppy trading inside this near term established broad range would continue and as long as sup at 113.34 (Friday's New York low) holds, mild upside bias remains for marginal gain to 114.15/15.However, dlr's upside should falter below 114.45.
On the downside, below 113.34 would signal aforesaid erratic rise has ended and yield subsequent weakness to 112.95/00.
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 Mar 15: Intra-Day Market Moving News and Views (AUD/USD)
Intra-Day Market Moving News and Views (AUD/USD)
15 Mar 2016 01:30GMT
AUD/USD - ...... The latest report from Australia's central bank RBA: The minutes suggested that there were "reasonable prospects" for continued economic growth and it was still too early to assess whether a bout of global market volatility early in the year foreshadowed something more sinister.
With low inflation, that would give it room to ease policy but only if it was "appropriate to lend support to demand", the Reserve Bank of Australia said in minutes of its March 1 policy review, where it kept the cash rate steady at a record low 2.0 percent for a 10th month running.
It continued that there had been further indications of a rebalancing of activity towards the non-mining sectors of the economy, more recent data had suggested that the economy had continued to grow at a moderate pace in early 2016.
Their Members judged that there were reasonable prospects for continued growth in the economy and that it was appropriate to leave the cash rate unchanged at an accommodative setting.
The RBA cited low interest rates, above-average employment growth and a depreciation of the exchange rate over the past couple of years as factors underpinning the economy. It made no mention of a recent rebound in the local dollar.
Over the period ahead, new informational should allow the Board to assess whether the improvement in labour market conditions was continuing and whether the recent financial turbulence presaged weaker global and domestic demand."
Members spent part of the meeting discussing China, Australia's single biggest export market.
They have observed that demographic changes and strong productivity growth had been key drivers of economic growth in China for some time, but these forces were now reversing and were likely to weigh on further growth as a result.
However, the process of urbanisation still had some way to run in China and that would tend to support growth in the working age population.
The RBA also noted that Chinese household incomes are likely to rise over time, creating long-run potential for Australia to increase exports of rural produce and services, including tourism, to China.
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AceTraderFx Mar 15: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
15 Mar 2016 03:09GMT
USD/JPY - ..... Market is on the edge awaiting BoJ's announcement on its rate n monetary policy decision. At its Jan's 29 meeting, the central bank surprise the market with its aggressive easing measures, causing dlr to jump from 118.52 to 121.70.
The pair briefly spiked to 114.02 from 113.71 but has pared intra-day gain. So expect choppy price swings until official announcement comes through the newswire.
Offers are tipped at 114.00/10 and more above with stops touted above 114.45, more stops are reported above 115.00. Initial bids are reported at 113.55-50 with stops building below 113.30.
Data be released on Tuesday:
Japan BoJ rate decision, industrial output, capacity utilization, France CPI, Italy CPI, Eurozone employment, U.S. NY Empire State manufacturing index, producer price index, retail sales, retail control, Redbook, business inventories, Net TIC flows, overall net capital flows and foreign T-bonds buying
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 Mar 15: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
15 Mar 2016 04:06GMT
USD/JPY - ..... Dlr tumbled from intra-day high of 114.14 to as low as 113.37 after BoJ kept its monetary policy unchanged. Reuters reported the Bank of Japan kept monetary policy steady on Tuesday, preferring to spend more time gauging the impact on the economy of its decision in January to deploy negative interest rates.
As widely expected, the central bank maintained its pledge to increase base money at an annual pace of 80 trillion yen ($700 billion). It also left unchanged a 0.1 percent negative interest rate it applies to some reserves financial institutions park at the BOJ.
The BOJ also decided to exempt money reserve funds (MRFs) from the minus 0.1 percent rate and instead apply a rate of zero starting in May.
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
Intra-Day Market Moving News and Views (USD/JPY)
16 Mar 2016 02:06GMT
USD/JPY - ...... Dlr pared yesterday's sharp losses and jumped in Asian morning on BoJ Kuroda's dovish remarks. Speaking in parliament, Bank of Japan Governor Haruhiko Kuroda said that it was theoretically possible for the central bank to cut interest rates to around minus 0.5 percent. But he could not say at this moment which policy tools the BOJ would use in case it decided to expand monetary stimulus again, saying that it would depend on economic conditions at the time.
The BOJ added a negative interest rate policy to its massive asset-buying programme in January and began charging a 0.1 percent interest on a portion of excess reserves financial institutions park with the central bank.
Japan's PM Shinzo Abe is meeting with foreign economists to help him prepare for hosting a Group of Seven summit that will be hosted by Japan in May, and U.S. Nobel laureate and economist Joseph Stiglitz said that he had Shinzo Abe to delay a sales tax increase scheduled for next year and focus more on fiscal spending to boost a recovery from recession.
Stiglitz told Abe that G7 need to coordinate policy as weak aggregate demand was harming the global economy and contributing to income disparity.
The G7 talks, according to some economists, could give Abe a convenient reason to postpone tax hikes, relax fiscal austerity and and introduce more stimulus to avoid relying too much on monetary policy.
"A consumption tax increase now would be going in the wrong direction," said Stiglitz, a professor at Columbia University. "This is a time to have stimulating fiscal policy."
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