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AceTraderFx Mar 1: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
01 Mar 2016 02:32GMT
USD/JPY - ..... Dlr languishes above intra-day low at 112.16, price penetrated Monday's New York low at 112.66 in thin Australian morning after hitting stops below 112.60, price fell to 112.19, despite a short-covering recovery to 112.54 at Asian open, price fell again to 112.16 before stabilising.
The lack of a rebound from 112.16 suggests intra-day downside bias remains, offers are noted at 112.50/60 n more above with stop touted above 113.00.
Some bids are noted at 112.15-112.05 with stops reported below 111.90., suggesting selling dlr on recovery is favoured.
Data to be released today:
New Zealand term of trade, imports, exports, Australia AIG manufacturing index, building permits, current account, interest rate decision, Japan unemployment rate, jobs/applicants ratio, all household spending, MOF business Capex, manufacturing PMI, China, non-manufacturing PMI, manufacturing PMI, Swiss retail sales, manufacturing PMI, Italy manufacturing PMI, unemployment rate, France manufacturing PMI, Germany manufacturing PMI, unemployment rate, unemployment change, Eurozone manufacturing PMI, unemployment rate, U.K. manufacturing PMI, Canada manufacturing PMI, GDP, U.S. Redbook, manufacturing PMI and construction spending.
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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 1: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 01 Mar 2016 05:08 GMT
EUR/USD - 1.0880
Despite yesterday's anticipated resumption of recent decline from February's 1.1377 peak to a fresh 3-week low of 1.0859 after data showed euro zone moved back into deflation, subsequent minor recovery in New York due to downbeat U.S. economic data suggests consolidation is in store.
As long as 1.0912 (last Friday's low, now res) holds, marginal weakness is likely, however, loss of near term downward momentum should keep price above 1.0810 sup and bring correction later today or tomorrow.
A firm rise above 1.0912/22 would be the 1st signal temporary bottom is in place and bring stronger retracement twd 1.0957/63.
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 1: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 01 Mar 2016 09:19 GMT
USD/JPY - 113.11
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
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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 2: Australia's economy outpaced all forecasts at the fastest pace in almost two years
Intra-Day Market Moving News and Views (AUD/USD)
02 Mar 2016 02:38GMT
AUD/USD- ...... Aud maintains a firm undertone after jumping from 0.7166 to 0.7236 after release of upbeat AU GDP data. Reuters later reported Australia's economy outpaced all forecasts to grow at the fastest pace in almost two years last quarter as strength in consumer and government spending offset the heavy drag from a global mining slump.
Gross domestic product (GDP) expanded by 0.6 percent in the fourth quarter, from the previous quarter when it rose an upwardly revised 1.1 per cent.
That propelled growth for the year to 3 percent, well above the 2.5 percent that had been expected by both analysts and the Reserve Bank of Australia (RBA).
The central bank has held rates steady since May last year and just this week skipped a chance to ease, saying it saw "reasonable prospects" for growth.
RBA Governor Glenn Stevens did say there would be scope for further easing given that inflation looked set to remain low, and investors are still wagering he will have to move eventually given headwinds facing the global economy.
However, the timing has been pushed out with interbank futures now implying a 45 percent chance of a cut by May, compared to 60 percent before the data.
The RBA has made it clear it would prefer any further stimulus to come through a lower Australian dollar, but is being thwarted by the drastic easing of central banks elsewhere.
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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 2: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
02 Mar 2016 03:07GMT
USD/JPY - ..... In stark contrast to yesterday's weak posture in Asian morning, the greenback proved resilient to intra-day retreat on Wednesday and rebounded from 113.74 to 114.17.
Yesterday's initial rally from Asian 112.16 low to 113.34 on short covering was later followed by another strong upmove to 114.19 after release of a string of upbeat U.S. data including U.S. manufacturing and production report, constructing spending as well as consumer spending. A 2.1% rally in the Dow boosted risk sentiment, leading to broad-based yen-selling.
Today, intra-day broad-based rally in Asian stocks with the Nikkei currently up nearly 4% at 16725 suggests trading the pair from long side is the way to go.
Bids have been raised to 113.90-80 and more below with stops touted below 113.30.
Pay attention to release of U.S. private ADP National Employment ahead of Fri's non-farm payrolls data, later in the day, Fed will release its Beige Book at 1900GMT, this report is published 8 times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources.
Data to be released on Wednesday:
Australia GDP, Swiss GDP, U.K. construction PMI, Eurozone producer prices, U.S. mortgage application and ADP national employment
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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 2: Intra-Day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
02 Mar 2016 04:18GMT
EUR/USD - ..... Despite yesterday's intra-day decline ahead of European open at 1.0894 to a 1-month trough of 1.0834 in New York morning due to release of upbeat U.S. data together with dovish comments by ECB President Draghi, the single currency managed o stage a strong rebound to 1.0876 ahead of New York close, price edged however to 1.0881 at Asian open before easing.
Looks like a temporary bottom has been formed and sideways trading is in store in Asian and European sessions. Offers are noted at 1.0880/90 and more above with stops touted above 1.0915/20.
Initial bids are reported at 1.0850-40 with stops below 1.0830, however, there is market chatter of good buying interest above 1.3800.
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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 2: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 02 Mar 2016 03:08 GMT
EUR/USD - 1.0870
Despite yesterday's anticipated resumption of recent decline from Feb's 3-1/2 month peak at 1.1377 to a 1-month trough of 1.0834 after release of a string of upbeat U.S. data and dovish comments by ECB President Mario Draghi, subsequent short-covering rebound signals temporary low has been made and consolidation is in store.
As long as 1.0912 (previous low, now res) holds, marginal weakness is likely, however, weakening of downward momentum should limit downside to 1.0800/10 and bring correction later this week.
On the upside, a daily close above 1.0912 would confirm long-awaited correction has taken place, then risk is seen for stronger retracement to 1.0950/60 but 1.0987/90 should cap upside.
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 3: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
03 Mar 2016 02:30GMT
USD/JPY - ..... Despite yesterday's cross-inspired selloff from New York's 2-week high of 114.56 to as low as 113.22, dlr ratcheted higher to 113.89 partly on yen-selling as intra-day minor gain in the Nikkie boosted risk sentiment, suggesting range trading is in store until European open.
Offers are tipped at 113.85/95 and more above with stops above 114.00, however, more selling interest is reported at 114.45/55.
On the downside, initial bids are noted at 113.50-10 with some stops below 113.20.
Pay attention to release of U.S. initial weekly jobless claims, ISM services PMI and the important January durable goods order ahead of Friday's key jobs data.
Data to be released on Thursday:
Australia imports, exports, trade balance, China service PMI, France service PMI, unemployment rate, Italy service PMI, Germany service PMI, U.K. service PMI, Eurozone service PMI, retail sales, U.S. initial jobless claims, unit labour costs, nonfarm productivity, service PMI, non-manufacturing PMI, durable goods, non-defense capital and factory orders.
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 3: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views (USD/JPY)
03 Mar 2016 03:10GMT
USD/JPY - ...... Bank of Japan Deputy Governor Hiroshi Nakaso in a speech to business leaders today urged the government to pursue structural reforms "without loosening the reins" to boost the country's growth potential and maximise the economic impact of ultra-loose monetary policy.
He also said the market pessimism over Japan's economic outlook was overblown, stressing that the BOJ has room to expand stimulus further either by topping up asset purchases or pushing interest rates further into negative territory.
Although global financial markets have been volatile since the turn of the year, he believes there is no need to be too pessimistic as the fundamentals of Japan's economy have been firm.
Below are the details on Nakaso speech:
-topping up asset buying remains an option as well as deepening negative rates if BoJ were to ease again
-Japan's economic fundamentals are solid, no need to be excessively pessimistic
-expect inflation to reach 2 pct around first half of fiscal 2017
-of 260 trln yen in reserves parked with BoJ, negative rates will be applied to around 10 trln yen
- effect of qqe with negative rates already appearing with jgb yields falling further
-don't think retail deposit rates will turn negative in Japan, judging from experiences in Europe
-Japan must tackle challenges to raise medium-term growth potential to achieve sustainable economic growth
strongly hope govt continues committing to structural reform without loosening the reins
-monetary policy to overcome deflation, structural reform to raise Japan's growth potential must be pursued in tandem to achieve sustainable growth
-expect original third arrow of abenomics to fly higher and faster with BoJ's introduction of QQE with negative rates
-there could be a certain limit to how much central banks can push rates deeper into negative territory
-estimates show qqe has heightened inflation expectations by roughly 0.5 percentage point
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 3: Intra-Day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
03 Mar 2016 04:16GMT
EUR/USD - ...... Similar to yesterday's price action in Asia, the euro maintains a firm undertone in Asian morning today after staging a rebound from New York's 1-month trough of 1.0826 to 1.0873 in Australia, suggesting sideways trading would continue until European open.
Today is 'services' PMI day in Europe with Italy releasing February PMI 1st, then France, Germany and EU.
EU will also release January retail sales. Pay attention to German FinMin Wolfgang Schaeuble speech, he will speak in London later today at the Official Monetary and Financial Institutions Forum (OMFIF), an independent platform for dialogue and research on "Britain's future in Europe" at 1600 GMT (eur/gbp traders should take note of this), then at 17:30GMT, he will speak at the London School of Economics.
Bids are noted at 1.0860-50 and more below with stops below 1.0820.
Offers are tipped at 1.0885/95 with fairly large stops touted above 1.0915.
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