Intraday trading signal - page 220
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AceTraderFx Dec 29: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
29 Dec 2015 07:39GMT
GBP/USD - ..... Cable pares yesterday's cross-inspired decline to 1.4874 (NEW YORK) as short-term specs sold sterling broadly after some economists predicted flooding in the northern part of England may cut 0.2% off U.K. GDP. However, the pound edged higher on short-covering in Australia and continued to ratchet higher in Asian session and just hit intra-day top of 1.4111, suggesting consolidation with mild upside bias remains.
As no U.K. are due out for the rest of this week, cable is expected to track intra-day swings in the euro.
Order book is pretty light with some bids noted at 1.4880-70 and some stops are touted below there.
Offers are tipped at 1.4920/30 and more with stops reported above 1.4950, suggesting buying cable on dips is favoured.
AceTraderFx Dec 30: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
30 Dec 2015 01:05GMT
USD/JPY- ...... Although dlr maintains a firm undertone in subdued Tokyo trading, the intra-day sideways move in New York session yesterday despite dlr's rally vs European currencies suggests market is not interested in buying the pair due to yen's strength vs EUR and GBP.
As financial markets in Japan will be closed for Bank holiday tomorrow, trading is likely to be lethargic in Asia n European morning n with U.S. pending home sales being the only data that may capture traders' notice later today, further sideways move is expected to continue.
Offers are reported at 120.55/65 with some stops above there, however, more selling interest is touted at 120.90/00.
Initial bids are noted at 120.30-20 and more below with stops below 120.00, however, as reported earlier, there is market chatter of scaled-down buying interest by Japanese importer fm 120.00-119.50 area, so downside on dlr should be pretty much ltd. Therefore, if you are an avid dlr/yen trader, you'd better start singing 'auld lang syne' today.
Data to be released on Wednesday:
U.K. nationwide house price, Swiss UBS consumption indicator, Italy producer prices, U.S. MBA mortgage applications, pending home index and pending home sales change.
AceTraderFx Dec 30: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
30 Dec 2015 01:37GMT
EUR/USD - ...... The euro is nursing loss in subdued Asian trading after yesterday's surprise intra-day selloff from 1.0992 (Europe) to as low as 1.0899.
Although the pair staged a rebound from European morning low at 1.0960 to 1.0992, offers at 1.0990/95 capped intra-day gain and euro tumbled broadly at New York open as massive selling (presumably from North American names) knocked price sharply lower, triggering stops below 1.0950, then 1.0920, price tried to stabilise after hitting 1.0909 and staged a recovery to 1.09843 before another fall to said session lows of 1.0899.
Expect consolidation to take place as Asian traders are on the sideline, however, offers are tipped at 1.0935/45 and more above and initial bids are touted at 1.0910-00 with more stops below 1.0895, suggesting selling euro on recovery is recommended.
AceTraderFx Dec 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 30 Dec 2015 02:00 GMT
EUR/USD - 1.0924
Yesterday's selloff from 1.0992 (Europe) to as low as 1.0899 in NY session confirms euro's early erratic rise from 1.0802 has made a top at 1.0993 on Mon and consolidation with downside bias remains for a strong retracement of this move and as long as 1.0958/60 (previous sup, now res) holds, downside bias is seen for weakness towards 1.0870, however, near term loss of momentum should keep price above 1.0848/53 today.
On the upside, a daily close above 1.0958 would signal pullback is over, then outlook would turn bullish for re-test of 1.0993 and later towards daily res at 1.1013.
AceTraderFx Dec 31: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
31 Dec 2015 01:12GMT
USD/JPY - ...... The pair is moving in familiar range in subdued Asian trading as closure of Japanese financial market for Bank holiday today ensure the pair would continue to move sideways.
Despite yesterday's cross-inspired marginal break of previous 120.63 res to 120.65 in New York afternoon session, lack of follow-through buying quickly sent price lower and dlr ratcheted lower in Australian morning to 120.42.
Offers are noted at 120.60/70 with some stops touted above there, some bids are reported at 120.35 and more below with stops below 120.00
However, as mentioned in previous update, there is market chatter of scaled down buying interest from Japanese importer from 120.00-119.50. So if you must trade, then buy on dips towards 120.35 or sell on further rise to 120.65/70.
Data to be released on Thursday:
U.S. initial jobless claims, MBA mortgage approvals and Chicago PMI.
AceTraderFx Jan 4: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
04 Jan 2016 02:00GMT
Today is PMI day for global markets. Reuters reported Japanese manufacturing activity expanded in December at the same pace as the previous month as new orders grew at a faster rate in a sign the economy maintained momentum at the end of 2015, a revised survey showed on Monday.
The Markit/Nikkei Final Japan Manufacturing Purchasing Managers' Index (PMI) was a seasonally adjusted 52.6 in December versus a flash reading of 52.5 and unchanged from a final 52.6 in November - the highest reading since March 2014.
The index remained above the 50 threshold that separates expansion from contraction for the eighth consecutive month. The final index for new orders was 54.2, up from a preliminary 54.1 and a final 53.6 in the previous month.
For new export orders, the final number fell to 52.2 from a flash reading of 52.4 and from a final 53.2 in November, the survey also showed.
Japan's economy dodged recession in the third quarter with the initial estimate of a contraction revised to an annualised expansion of 1.0 percent due to gains in capital expenditure, data showed last month.
An unexpected rise in machinery orders also suggests that business investment could help underpin growth due to improving corporate activity and domestic demand.
Reuters reported Prime Minister Shinzo Abe said today that Japan was no longer in deflation, while pledging that the government and the central bank would work together to completely defeat it.
When later asked whether such statement may be taken as hasty judgment on deflation, Abe said Japan has still not completely conquered deflation.
AceTraderFx Jan 4: China's manufacturing PMI
The Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI)
04 Jan 2016 02:05GMT
The important China's manufacturing PMI just came out which missed market forecast. Reuters reported China's factory activity contracted for the 10th straight month in December and at a sharper pace than in November, a private survey showed, dampening hopes that the world's second-largest economy will enter 2016 on a more stable footing.
The Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) slipped to 48.2 in December, below market expections of 49.0 and down from November's reading of 48.6. The reading was the lowest since September, remaining well below the 50-point level which demarcates contraction from expansion on a monthly basis.
Weighed down by weak demand at home and abroad, factory overcapacity and cooling investment, China is expected to post its weakest economic growth in 25 years in 2015, with growth seen cooling to around 7% from 7.3% in 2014.
Some market watchers suspect real growth is actually much lower than official data suggest. The government is expected to increase its budget deficit to about 3 percent of gross domestic product in 2016 to help cushion the slowing economy, while the central bank is expected to make further cuts in interest rates and banks' reserve requirement ratios (RRR).
After picking up for the first time in seven months in November, the output sub-index dropped to 48.7, its lowest reading in three months, with anecdotal evidence suggesting firms had cut output due to relatively soft market conditions and weaker demand from clients.
As companies cut costs and downsized, employment was also hit, falling to 47.3 in December, the 26th month in a row that manufacturers have shed staff. New export orders contracted after two months of expansion, pointing to a weak start for factories in 2016.
Total new orders shrank for a sixth month, highlighting soft domestic demand as well.
AceTraderFx Jan 4: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 04 Jan 2016 03:06 GMT
EUR/USD - 1.0868
Despite euro's brief break of last Thursday's 1.0851 low to 1.0827 in Asia today on initial USD's broad-based strength following hawkish comments by U.S. Cleveland Fed President Loretta Mester, intra-day rebound suggests choppy sideways trading is in store, as long as 1.0900/10 holds, near term decline from last week's 1.0993 high may pressure price to 1.0820/25, reckon daily sup at 1.0802 would remain intact.
On the upside, a daily close above 1.0900 signals aforesaid fall from 1.0993 has ended, then further gain to previous res area at 1.0938/44 would be seen.
AceTraderFx Jan 5: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
05 Jan 2016 02:30GMT
USD/JPY - ..... Dlr regains composure in Asian morning as intra-day move back into positive territory in Chinese stocks has led to broad-based recovery in Asian stocks, Dollar rebounded from 119.10 to 119.63 as modest gain in the Nikkei has boosted risk sentiment, leading to yen selling vs its peer currencies.
Looks like the pair would gain respite after yesterday's selloff from 120.47 to an 11-week low of 118.70 (Europe). Having said that, dlr's daily close below the 'psychological' 120.00 level bodes ill for the pair and price should head lower towards daily obj. 118.06 later this once current consolidation is over.
Offers are noted at 120.65/75 n more above with stops reported above 120.00, initial bids are touted at 119.20-10 with stops below 119.00, more stops are reported below 118.60.
BoJ Governor Kuroda is scheduled to deliver a speech at 07:10GMT.
Data to be released on Tuesday:
Germany unemployment rate, unemployment change, U.K. construction PMI, Italy CPI, Eurozone inflation, Canada producer prices, U.S. Redbook and New York Index
AceTraderFx Jan 5: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
05 Jan 2016 3:00GMT
EUR/USD - ..... Euro trades narrowly in subdued Asian morning after o/n rebound from a near 1-month low of 1.0781 to 1.0837 in New York. Price edged higher to 1.0839 after Asian open before easing.
Yesterday's intra-day selloff in New York after hitting a high of 1.0946 in Europe suggests downside bias remains as market is eager to test euro's downside for support.
Offers are tipped at 1.0835/45 and more above with stops reported above 1.0900, some bids are noted at 1.0800-1.0790 with stops below 1.0780.
Germany will release its unemployment data at 08:55GMT, then followed by Italy's CPI data and then EZ inflation data.
A piece of o/n news on Greece worth noting. European Economics Commissioner Pierre Moscovici urged the Greek government to respect its commitment to reform its pension system and keep the country on a virtuous reform path.
Greek Prime Minister Alexis Tsipras' ruling coalition faces a tough test with the reform of its ailing pension system, a prerequisite for the first review of Greece's 86 billion euro bailout agreed in July last year.