AceTraderForex Jun 9: Intra-Day Market Moving News & Views & data to be released toda

Trading Discussion Currencies
11

[B]Intra-Day Market Moving News and Views

24 Jun 2014[/B] [I]01:37GMT[/I]

[B]USD/JPY [/B]-  ... Despite last Fri's brief rebound from 101.74 to 102.20, U.S. dollar ratcheted lower to 101.82 yesterday due to the weakness in Nikkei-225 index futures in Chicago yesterday. Nikkei-225 index currently dropped by 92 points to 15277. Offers are now reported at 101.90-00 and more at 102.10-20. On the downside, mixture of bids and stops is located at 101.70 and 101.60.

Trading is expected to be thin today as expectations for price swings in the dollar against the Japanese yen fell to a record low due to signs of an uneven U.S. economic recovery fueled bets the Federal Reserve will keep borrowing costs at unprecedented lows.

Kyodo news reported earlier on June 19 that Japan’s cabinet may approve the Prime Minister Shinzo Abe’s growth plan today.

Yesterday, White House said ‘Obama spoke to Russian President Putin on Monday, saying Russia will face additional costs if there are no concrete actions to de-escalate Ukraine situation.’

[B]Data to be released on Tuesday: [/B]

Switzerland trade balance, Germany Ifo business climate, Ifo current conditions, Ifo expectations, UK mortgage approvals, U.S. consumer confidence, new home sales.

12

[B]Intra-Day Market Moving News and Views

25 Jun 2014[/B] [I] 01:44GMT[/I]

[B]USD/JPY[/B] -  ... The greenback bounced briefly to 102.17 due to the release upbeat U.S. economic data, including consumer confidence and new home sales, however, renewed risk aversion due to the geopolitical tensions in Iraqi n Ukraine knocked price lower to 101.92 in late NY and then 101.87 in Asian morning.

Offers are now tipped at 102.00-10 whilst bids are located at 101.85, 101.75 and 101.65 with stops building up below 101.60.

WSJ reported that Syrian warplanes strike in western Iraq, killing at least 50 people. The strikes on Tuesday came as the Pentagon announced that the first 130 members of a potential 300 U.S. military advisers were in place in Baghdad to start assessing and improving the Iraqi army’s ability to counter the gains of rebels led by the Islamic State of Iraq and al-Sham.

Bloomberg news reported that Ukrainian president Petro Poroshenko called for immediate talks with leaders in Russia, Germany and France after pro-Russian rebels shot down a government helicopter in violation of a cease-fire.

Yesterday statements from Fed’s Dudley said ‘can get the unemployment rate considerably lower without an inflation problem; mid-2015 interest rate hike sounds like reasonable, but forecasts often “go astray”; Puerto Rico banking sector doing well given difficult operating environment.’

[B]Data to be released on Wednesday: [/B]

Germany Gfk consumer sentiment, Switzerland UBS consumption indicator, Italy retail sales, consumer confidence; U.K, CBI distributive trades, U.S. PCE, durable goods, GDP, and Markit service PMI (flash).

13

[B]Intra-Day Market Moving News and Views USD/JPY

26 Jun 2014[/B] [I]01:49GMT[/I]

[B]USD/JPY[/B] -  ... The greenback tumbled to 101.64 on Wednesday due to dollar's broad-based weakness after the release of weaker-than-expected U.S. GDP n durable goods data, however, short-covering lifted price briefly to 101.87 in late NY.

Offers are now tipped at 101.90-00 and more at 102.10-20.
On the downside, sizeable stops at 101.60 are in focus but some demand is located at 101.45/40 and more at 101.20-10.

Nikkei-225 index rose by 48 points to 15315, following the rise in U.S. stock markets. Prime Minister Shinzo Abe said on Wednesday that deflation has ended and will be thwarted by new government policies designed to encourage business expansion.

Last night statement from the U.S. White House said, quote:
‘Obama is mindful of not putting in U.S. companies at a competitive disadvantage when mulling further sanctions against Russia over Ukraine; sanctions regime against Russia will be most effective if implemented with allies in Europe who are among Russia’s strongest trading partners.’
‘Obama called Italy’s PM to discuss Ukraine on Wednesday.’

[B]Data to be released on Thursday: [/B]

France business climate, U.K. BoE financial stability report, U.S. jobless claims, personal consumption, personal income, core PCE, PCE index.

14

[B]Intra-Day Market Moving News and Views

27 Jun 2014[/B] [I]00:30GMT[/I]

[B]USD/JPY[/B] - Statement from the Japan govt. official announced that :   May household spending fall n impact of sales tax hike are within expectations, as spending other than auto, housing in uptrend.

While Japanese household spending fell much more than expected in May, data showed on Friday, in a sign that consumer spending is struggling after an increase in the national sales tax.

The 8.0% annual decrease exceeded the median market forecast for a 2.0 percent annual decline.
The govt. raised the national sales tax to 8% fm 5% on Apr 1st to pay for rising welfare costs.

[B]Yesterday Fed’s Bullard in his statement said, qoute: [/B]

‘prefers to end bond buying in October; sees GDP growth bouncing back in 2nd qtr, on track for 3.5 pct to 4 pct growth; own forecast of q1 2015 rate hike is data-dependent; wage increases will follow increase in inflation.’

’ if jobless rate falls faster than expected, Fed may be behind curve; confident that fed will do the right thing; “way ahead of schedule” on decline in unemployment rate; view that inflation will rise above 2 pct in 2015; U.S. no longer in 1 pct-2 pct low-inflation environment; inflation will tick higher; U.S. is still a long way from a turn in monetary policy; economy could tolerate the process of fed going back to normal.’

‘as credit markets heal, harder to justify continued low rates; Fed’s bond-buying has not made U.S. income, wealth inequality worse; higher inflation would hurt the poor the most; Fed’s bond-buying has boosted stocks, which have recently returned to more standard valuations; largely agree that low real yields will help repair damage from crisis more quickly.’

[B]Data to be release on Friday: [/B]

New Zealand trade balance, exports, imports, Japan household spending, CPI core Tokyo, CPI core nationwide, unemployment rate, Germany import price index, CPI, HICP, France consumer spending, GDP, producer prices, Switzerland KOF indicator, Italy business confidence, U.K. Gfk consumer confidence, GDP, euro zone business climate, consumer confidence, economic sentiment, service sentiment, Canada producer prices, U.S. University of Michigan sentiment (Final).

15

[B]Intra-Day Market Moving New and Views USD/JPY

02 Jul 2014[/B] [I]02:15GMT[/I]

[B]USD/JPY[/B] -  ... The greenback ratcheted higher to 101.65 due to the rise in Nikkei-225 index, which rose by 89 points to 15416, following the rally in U.S. stock markets. Bids are now located at 101.50-40 and more at 101.30 with stops only seen below 101.20.

On the upside, some offers are tipped at 101.80-85 and more at 102.00.

BOJ reported that firms forecast inflation of 1.5 percent in a year, unchanged from three months ago.
Japanese companies see prices rising 1.6 percent from a year earlier in three years, and gaining 1.7 percent in five years. Japanese companies forecast sustained price gains, providing support for the Bank of Japan’s campaign to generate stable inflation.

Investors are focusing on the speech at 14:00GMT by Federal Reserve Chair Janet Yellen after saying last month U.S. interest rates will stay low for a ‘considerable time.’

[B]Data to be release of Wednesday: [/B]

Australia exports, imports, trade balance, U,K. Nationwide house price, Markit/CIPS construction PMI, euro zone GDP, producer prices, U.S. ADP employment, durable goods revised, factory orders, Canada manufacturing PMI on Wednesday.

16

[B]Intra-Day Market Moving New and Views

03 Jul 2014[/B] [I]01:00GMT[/I]

[B]AUD/USD[/B].. The latest prepared statements from RBA Governor Glenn Stevens which has knocked AUD sharply lower to intra-day low of 0.9393 after he said Australia rebalancing act to take time, A$ overvalued, quote :-
  1. rebalancing signs encouraging but some way to go yet;
  2. monetary policy very accommodative, but still has ammunition on rates;
  3. A$ overvalued by most measures, and by more than a few cents;
  4. investors under-estimating risk of sharp fall in a$ at some point;
  5. not seeking to actively “jawbone” the currency lower;
  6. has not contemplated tightening, stability language has worked on market expectations;
  7. could drop reference to stable rates long before giving any thought to tightening;
  8. federal budget unlikely to change near term economic outlook;
  9. longer term tightening of fiscal policy seems sensible;
  10. questions whether budget impact on household confidence will persist;
  11. Q1 GDP probably overstated pace of growth, outlook little below trend;
  12. housing market appears to be calming down, slower price growth favoured;
  13. conditions in housing market do not warrant higher rates.

Yesterday, the foreign ministers of Russia and Ukraine agreed in talks in Berlin on Wednesday to work towards resuming a ceasefire which would be made possible by starting three-ways talks including pro-Russian separatists by this weekend.

German foreign minister Steinmeier said, quote: ‘talks with Ukraine, Russia and France produced measures that will point way to multilateral ceasefire; welcomes Russian readiness to allow Ukraine officers access to checkpoints on border.’

Ukraine foreign minister Klimkin said, quote: ‘talks agreed to work towards resumption of trilateral contact group talks; de-escalation will happen when ukraine president’s peace plan is respected in its totality’

Russian foreign minister Lavrov said, quote: ‘hopes for meeting of contact group on Ukraine in next few days; Russian side will be ready during any new ceasefire to let OSCE monitor certain border crossings; Russia will work for release of hostages in Ukraine; expects a ceasefire to be put in place in Ukraine.’

French foreign minister Fabius said, quote: ‘talks on Ukraine “can report mission accomplished”.’

17

[B]Intra-Day Market Moving News and Views

04 Jul 2014[/B] [I]07:33GMT [/I]

[B]USD/JPY [/B]- … Japan’s giant public pension fund (GPIF) enjoyed another strong financial year as domestic stocks rose, but its performance was marred by a pullback in the January-March quarter - just as the fund was cautiously beginning to seek better returns on its equity investments.

The $1.24 trillion Government Pension Investment Fund, the world’s largest, generated an 8.6 percent return in the year through March, its third-best ever, helped by a weaker yen and a 47 percent jump in Japanese equities, the fund reported on Friday.

GPIF posted a loss of 0.8 percent, however, in the final three months, its first loss in seven quarters, as the Nikkei stock average slipped 9 percent.

Japan had appointed Hosomizo as new chief financial regulators.

Earlier today, the greenback rallied to as high as 102.27 y’day due to the release of much stronger-than-expected U.S. non-farm payrolls data which came in at 288,000 versus economists’ forecast of 213,000. The U.S. unemployment rate also fell to 6.1% in June from previous reading of 6.3% in May, however, profit-taking in Asian morning capped dlr’s upside somewhat. Offers are now tipped at 102.20/25 n more at 102.30 with stops building up abv 102.35 res. On the downside, bids are located at 102.10-00 n more at 101.90-80.

Nikkei-225 index currently rose by 97 points to 15445 following the rally in U.S. stock markets (Dow Jones index rose by 92 points to a record close at 17068. Trading is likely to be thin today as there is no major economic data coming out due to U.S. Independence Day Holiday.

18

[B]Intra-Day Market Moving New and Views [/B]

07 Jul 2014 [I]00:37GMT[/I]
[B]EUR/USD[/B] - … Euro breaks Fri’s low at 1.3586 in Asian morning. Price opened around 1.3600 in NZ n continued to edge lower, traders cited st specs sold the euro on dovish comments from ECB members Chritian Noyer & Benoit Coeure in a financial forum in Aix-En-Provence, France. Some stops below 1.3585 were stopped but trading volume is likely to be thin in Asia following last Fri’s market holiday in the U.S.

07 Jul 2014 [I]00:26GMT[/I]
[B]USD/JPY[/B] -… Quoting comments from BoJ Governor Haruhiko Kuroda who is speaking at the quarterly meeting of BoJ branch managers :

“Japan’s economy continues to recover moderately as a trend.”
“Japan’s CPI likely to move around 1-1.5% for some time.”
“Japan’s financial system maintaining stability as a whole.”
“Japan’s QE has been exerting intended effects.”
“Japan will continue with QE for as long as needed to achieve its 2% inflation target in stable manner.”
“BoJ will examine upside, downside risks to economy, prices, n adjust policy as necessary.”

[B]Data to be released next week: [/B]

Japan leading index, Switzerland unemployment rate, Germany industrial orders, euro zone Sentix index, Canada building permits, Ivey PMI [B]on Monday. [/B]

U.K. BRC shop price, Japan current accounts, economy watcher, Australia Westpac consumer confidence, NAB business conditions, NAB business confidence, China CPI, PPI, GDP, retail sales, Germany trade balance, exports imports, France trade balance, Switzerland CPI, retail sales, U.K. industrial output, manufacturing output, U.S. redbook [B]on Tuesday. [/B]

Australia consumer sentiment, Canada house starts [B]on Wednesday. [/B]

New Zealand PMI, U.K. RICS housing survey, Japan machinery orders, Australia employment, unemployment, China exports, imports, trade balance, Japan consume confidence, France CPI, industrial output, Italy industrial output, U.K. trade balance, BoE rate decision, Canada new house price index, U.S. wholesale inventories, wholesale sales [B]on Thursday. [/B]

Australia housing finance, invest housing finance, Germany CPI, HICP, France current account, Canada unemployment rate, employment change, U.S. Federal budget [B]on Friday.[/B]

19

[B]Intra-Day Market Moving New and Views USD/JPY

09 Jul 2014[/B] [I]01:53GMT[/I]

[B]USD/JPY[/B] -  ... Yesterday's cross-inspired weakness knocked price lower to 101.49 in NY and then 101.45 at Tokyo open due to the decline in Nikkei-225 index following the sell off in global stock markets on Tuesday. Offers are now tipped at 101.65-70 and more at 101.80-85.

On the downside, some bids are located at 101.40 and 101.30-25.
Trading is likely to be thin in Asia as investors are waiting for the release of Fed’s minutes at 18:00GMT later today.

Tuesday’s news worth mentioning, Minneapolis Fed President Narayana Kocherlakota said inflation may run below the central bank’s target, while his Richmond counterpart Jeffrey Lacker curbed his previous expectation for more robust growth.

09 Jul 2014 [I]01:30GMT [/I]

In other news, comments by Chinese President Xi Jinping who said as he opened annual talks between U.S. & China confrontation between China, U.S. would be a disaster.

Preisent Xi said China, U.S. should speed up talks on bilateral investment treat; China, U.S. must respect each other’s sovereignty & territorial integrity.
U.S. Treasury Secretary Jack Lew said moving to market-determined FX rate is crucial step for China; Sees a strengthening recovery in U.S.

[B]Data to be released on Wednesday: [/B]

UK shop price index, Japan machinery orders, Australia Westpac consumer sentiment, China CPI, PPI, Canada housing starts and U.S. FOMC minutes.

20

[B]Intra-Day Market Moving New and Views USD/JPY

10 Jul 2014[/B] [I]02:12GMT[/I]

[B]USD/JPY [/B]-  ... Despite yesterday's brief bounce to 101.85 after the release of FOMC minutes, the greenback subsequently retreated and ratcheted lower to 101.51 in Asia.

Offers are now tipped at 101.75-80 and more at 101.95-00 with stops seen above 102.00.
On the downside, bids are located at 101.30-25 with stops seen below 101.20 but demand from various accounts is located above 101.00 level.

On the data front, Japan’s machinery core orders fell by 19.5% from April, the most on record in May since 1987, suggesting that companies remain cautious about deploying record cash reserves into investment.

Bloomberg news reported earlier that Bank of Japan officials see buying exchange-traded funds based on the JPX-Nikkei Index 400 as a future option to boost the impact of unprecedented easing and encourage companies to deploy cash for investment, according to people familiar with the central bank’s discussions.

[B]Data to be released on Thursday: [/B]

New Zealand PMI, Japan domestic CGPI, machinery orders, consumer confidence, Australia employment, China exports, imports, trade balance, France CPI, industrial output, Italy industrial output, UK RICS housing survey, trade balance, BoE rate decision, Canada housing price index, U.S. jobless claims, wholesale sales and wholesale inventories.

21

[B]Intra-Day Market Moving New and Views

11 Jul 2014[/B] [I]01:57GMT[/I]

[B]USD/JPY[/B] -  ...  Japan FinMin Aso said "Japan long-term interest rates at 0.54% are abnormal".

The greenback remained under pressure on Thursday and intra-day decline gathered momentum after penetrating 101.45 support to a fresh 7-week low at 101.07 due to active cross buying in jpy on renewed risk aversion before staging a recovery to 101.39 in Asian morning.
Offers are now tipped at 101.45-50 n more at 101.60 with stops only seen above 101.70.
On the downside, some bids are located at 101.15-10 with mixture of bids n stops seen at 101.00.

Wraping up from last night, Fed’s George said 'concerned about effects of higher food prices on lower-income households; formulas that guide interest rate changes point to liftoff from 0 as early as this year; anxious to work twd process of policy normalization.'
The single currency Euro had finally gained some respite in NY session after intra-day sharp retreat from 1.3650 to 1.3589 in NY morning on risk aversion due to growing concerns over Portuguese bank BES.
Offers were now seen at 1.3615/20 n more above at 1.3630/40 with stops building up above there whilst initial bids were noted at 1.3580/90, suggesting selling on any recovery was still the favored strategy.

[B]Data to be released on Friday:[/B]

Australia new home loans, Germany CPI, HICP, WPI, France current account, Canada employment change, unemployment rate and U.S. Fed budget.

22

[B]Intra-Day Market Moving New and Views

14 Jul 2014[/B] [I]02:26GMT[/I]

[B]USD/JPY[/B] - ... The greenback edged higher in Asia on Mon and briefly penetrated Fri's high of 101.39 to 101.41 due to broad-based softness in yen as the BoJ kicked off its latest two-day monetary policy meeting today with the board expected to stand pat.

Offers from various accounts are noted at 101.50-60 with mixture of offers and stops emerging above 101.80.
On the downside, bids are placed at 101.30/25 and then 101.15/10 with stops located just below 101.00.

Earlier Japan PM Abe said that he wanted a summit with China at Nov Apec meeting.

[B]Data to be released next week: [/B]

Japan capacity utilization, industrial output and EU industrial production [B]on Monday. [/B]

Australia RBA minutes, Japan BoJ rate decision, Swiss PPI, UK BRC retail sales, CPI, PPI, PPI input, PPI output, RPI, core RPI, Italy CPI, Germany ZEW current conditions, economic sentiment, U.S. retail sales, export prices, import prices, Redbook retail sales and business inventories [B]on Tuesday.[/B]

New Zealand CPI, China GDP, retail sales, industrial output, Italy trade balance, UK ILO unemployment, claimant count, Swiss ZEW sentiment, U.S. PPI, core PPI, net L-T flows, capacity utilization, industrial output, NAHB housing market index, Fed beige book and Canada BoC rate decision [B]on Wednesday. [/B]

Australia NAB business confidence, EU CPI, U.S. building permits, housing starts and jobless claims [B]on Thursday.[/B]

EU current account, Canada CPI, core CPI and U.S. U. of Michigan consumer sentiment [B]on Friday.[/B]

23

[B]Intra-Day Market Moving New and Views

15 Jul 2014 [/B] [I]01:29GMT[/I]

[B]AUD/USD[/B] - Statement just released by [B]RBA[/B] minutes of its July 1st monetary policy meeting, quote :

1 on present indications, prudent to have period of steady rates;
2 repeats A$ high by historical standards, particularly given drop in commodity prices;
3 A$ offering less assistance to the economy than it might otherwise;
4 board noted NZD and CAD also high, were most surprised by low level of US dollar;
5 members agreed was difficult to judge if low rates would offset mining, fiscal drag;
6 further substantial falls in mining investment expected, public demand to be weak;
7 economic growth seen a little below trend over coming year, inflation in target band;
8 significant amount of monetary stimulus already in place to support economy;
9 RBA saw some improvement in labour market, only moderate jobs growth expected;
10 household consumption had eased, liaison suggested retail sales little changed from may to June;
11 strong growth in home building expected, non-mining investment rising gradually;
12 labour costs subdued, members noted productivity had improved across economy.

AUD briefly dipped to intra-day low of 0.9384 b4 rebounding to 0.9402 after the minutes were released as Reuters headline:
“Australia c.bank sets steady course for rates amid economy doubts” suggests no rate cut will be made any time soon.

Next RBA meeting will be on Aug 5.

[B]Data to be released on Tuesday: [/B]

Australia RBA minutes, Japan BoJ rate decision, Swiss PPI, UK BRC retail sales, CPI, PPI, PPI input, PPI output, RPI, core RPI, Italy CPI, Germany ZEW current conditions, economic sentiment, U.S. retail sales, export prices, import prices, Redbook retail sales and business inventories.

24

[B]Intra-Day Market Moving New and Views USD/JPY

17 Jul 2014 [/B] [I]02:31GMT[/I]

[B]USD/JPY[/B] -  ... The greenback traded with a soft bias below Wednesday's high of 101.79 in Asian morning and retreated to 101.52 due partly to cross-buying in yen vs other currencies.

Eur/Jpy dropped to a fresh 5-month low at 137.38 whilst aud/jpy and gbp/jpy retreated from 95.29 to 95.04 and fm 174.34 to 174.01 respectively.

Investors are reluctant to enter big position ahead of U.S. jobless claims and housing data due at 12:30GMT. Range trading is envisaged in Asia and Europe, therefore, buying dlr on dips is the way to go.
Market forecasts the U.S. jobless claims to be up by 6K to 310K from previous reading of 304K and U.S. housing starts and building permits in June to be increased to 1.018 mln and 1.040 mln respectively.

At the moment, bids are noted at 101.50/45 and then 101.30-20 with stops emerging below 101.00, whilst offers from various accounts are placed at 101.75/80 and around 101.90 with stops located just above 102.00.

[B]Data to be released on Thursday: [/B]

Australia leading indicator, NAB business confidence, EU inflation, U.S. housing starts, building permits and jobless claims.

25

[B]Intra-Day Market Moving New and Views USD/JPY

18 Jul 2014[/B] [I]02:14GMT[/I]

[B]USD/JPY [/B]- ... comments from Japan's FinMin Taro Aso said: " need to watch negative impact on economy such as oil prices due to situation over Ukraine including downing of Malaysian airliner.

Dlr weakened slightly below o/n NY low at 101.17 to 101.09 in Australia this today as investors weighed risks after President Barack Obama said the U.S. would assist in determining the cause of the crash of a Malaysia Airlines plane near the Russia-Ukraine border. However, short covering in yen crosses lifted price and dlr climbed back to 101.30.

At the moment, offers are noted at 101.40-50 n then 101.65/70 with stops emerging above Wed’s high of 101.79. On the downside, bids are placed at 101.00 n around 101.85 with stops located just below 2014 bottom at 100.76 (Feb). Selling dlr on recovery is cautiously favoured as demand for yen on risk aversion after yesterday’s Malaysian Airplanes plane crash should continue to pressure usd/jpy in Asia.

Earlier BoJ minutes stated, quote:
most members shared view that BoJ would continue with QE to achieve the price stability target of 2 percent, as long as necessary;
members shared view that impact of QE is firmly taking hold, supporting firms’ and households’ spending;
members agreed that geopolitical risks continue to warrant attention;
some members said decline in interest rates worldwide might reflect weaker outlook for mid- to long-term growth;
members agreed Asian economies likely to lack momentum because of weak demand, especially in Thailand;
members shared view that the economy continues to recover moderately as a virtuous cycle among production, income and spending continued to operate;
members agreed that Japan’s exports had leveled off but were likely to increase moderately, mainly due to a recovery in overseas economies.’

[B]Data to be released on Friday: [/B]

Japan BoJ minutes, China house prices, EU current account, Canada CPI, wholesale trade, U.S. leading indicators and U. of Michigan consumer sentiment.

26

[B]Intra-Day Market Moving New and Views

21 Jul 2014[/B] [I]02:17GMT[/I]

[B]USD/JPY [/B]- ... The greenback traded with a soft bias in Asia this morning n moved lower from Australian high of 101.37 to 101.27 in part due to cross-buying in yen vs other CCYs as risk aversion remained after the shooting down of a Malaysia Airlines jet in eastern Ukraine last Fri.

Today, expect range trading with mild downside bias until European open as market is thin in Asia due to national holiday in Japan. There are no major economic data release from U.S. and therefore, fund flow should be the main drive for this pair’s direction.

At the moment, offers are noted at 101.35/40 and then 101.55/60 with stops emerging above last Wed’s high of 101.79, whilst bids are noted at 101.15/10 and around 101.00 with mixture of bids and stops located at 101.80 and just below 2014 bottom at 100.76 (Feb).

[B]Data to be released this week: [/B]

Japan market holiday, UK house prices, Germany PPI, Italy industrial sales and industrial orders [B]on Monday. [/B]

China leading index, Japan leading index, Swiss trade balance, UK PSNB, PSNCR, CBI trends, U.S. CPI, core CPI, Redbook retail sales, home price and existing home sales [B]on Tuesday.[/B]

Australia CPI, France business climate, UK BoE minutes, BBA mortgage approvals, Italy trade balance, Canada retail sales and EU consumer confidence [B]on Wednesday. [/B]

NZ RBNZ rate decision, trade balance, imports, exports, Japan exports, imports, manufacturing PMI, China HSBC manufacturing PMI, France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, EU manufacturing PMI, services PMI, Italy retail sales, UK retail sales, U.S. jobless claims, manufacturing PMI and new home sales[B] on Thursday. [/B]

Japan National CPI, Tokyo CPI, Germany Gfk consumer confidence, Ifo current conditions, expectations, business climate, Italy unemployment, UK GDP and U.S. durable goods [B]on Friday.[/B]

27

[B]Intra-Day Market Moving New and Views

22 Jul 2014[/B] [I]02:12GMT[/I]

[B]USD/JPY [/B]- .... The greenback strengthened ahead of Asian open today as risk appetites improved after comments from Japan economy minister Amari (see our prev. MMN). Broad-based selling in yen pushed dlr rose above yesterday's high of 101.39 to 101.52 b4 easing.

Today, expect the greenback to trade with a mild upside bias ahead of European open but gain should be ltd due to thin market condition as investors are on the sidelines to monitor development of events in Ukraine and Gaza. Having said that, market participants should pay attention to the U.S.'s CPI and existing home sales due out at 12:30GMT n 14:00GMT respectively. Market forecasts CPI m/m for Jun to be lowered to 0.2% from previous reading of 0.3%, whilst core CPI m/m in Jun also to be reduced to 0.3% from previous reading of 0.4%. Meanwhile, market expects the existing home sale for Jun to be 2.0% and 4.95 mln units.

At the moment, offers are noted at 101.60-70 n then 101.75/80 with stops emerging above 102.00, whilst bids from various accounts are placed at 101.40-30 n around 101.20 with stops located just below 101.10.

The United Nations Security Council condemned the downing of a Malaysian passenger plane in Ukraine with 298 people on board and demand that armed groups allow safe, secure, full and unrestricted access to the crash.

Earlier, Bloomberg headline which came out in Australia, Kyodo news reported comments from Japan economy minister Amari who said Japan to decide on 10% sales tax hike in early Dec.

Dlr climbed on the news ahead of Asian open and hit intra-day high of 101.51 after tripping stops above last Fri’s top at 101.45.

U.S. President Barack Obama & Polish President Komorowski stress in call need for “transatlantic solidarity” in response of Malaysia plane & “Russia’s efforts to destabilise Ukraine” - White House.

[B]Data to be released on Tuesday:[/B]

The release of China leading index, Japan leading index, Swiss trade balance, UK PSNB, PSNCR, CBI trends, U.S. CPI, core CPI, Redbook retail sales, home price and existing home sales.

28

[B]Intra-Day Market Moving New and Views

23 Jul 2014[/B] [I]01:33GMT[/I]

[B]USD/JPY [/B].... Statement from BoJ's Deputy Governor Nakaso quote: 'Japan's economy continues to grow above its potential; domestic demand is firm but exports continue to move sideways;

expect Japan’s economy to continue to grow above its potential as virtuous cycle is sustained;
QQE exerting its intended effect with long-term yields moving stably, inflation expectations rising as a whole;
Japan eyeing end of deflation but still half-way through in meeting BoJ’s price target;
won’t hesitate to adjust policy if risks threaten change to our economic, price projections;
no evidence to confirm view that U.S. is suffering “secular stagnation”; situation in Ukraine, Russia a potential risk for global outlook, warrants attention;
I am somewhat concern about slow growth in emerging economies, particularly in Asia; decline in Japan’s private consumption broadly in line with initial expectations;
pace of recovery in Japan’s exports has been slower than in the past when considering pace of recovery in global growth, yen moves;
Japan’s real exports are expected to increase moderately, though must watch developments “without undue optimism”; Japan likely to achieve 2% inflation in or around fiscal 2015.’

Earlier quoting source from the Nikkie which said Abe advisers urge an initial 2% corporate tax cut.

[B]Wednesday [/B]will see the release of Australia CPI, France business climate, UK BoE minutes, BBA mortgage approvals, Italy trade balance, Canada retail sales and EU consumer confidence.

29

[B]Intra-Day Market Moving News and Views[/B]

[B]23 Jul 2014[/B] [I]05:20GMT[/I]

[B]USD/JPY [/B]- .... Statement from BoJ's Deputy Governor Nakaso quote:

‘Japan’s economy recovering moderately as a trend, impact of sales tax hike easing; sales tax hike reduces real household income, so must watch its impact on consumption;
global financial regulation must be created in a way that does not excessively hamper private-sector banking activity;
too early to debate specific exit strategy for BoJ’s QEE programme;
BoJ has experience exiting previous QE in 2006 and already has various means to withdraw liquidity;
how to use such means to withdraw liquidity and in what order, would depend on economic, price conditions at the time;
BoJ won’t be able to use same exit strategy as when it ended previous QE, as its balance sheet is larger and debt duration is longer;
monetary policy has a role to lay in addressing financial imbalances ;
in general, prolonged ultra-loose policy may spur excessive risk taking, but no such behavior seen in Japan.’

23 Jul 2014 02:17GMT
USD/JPY - … Although dlr edged higher in Tokyo morning n climbed to 101.54, renewed broad-based buying in yen quickly emerged after comments BoJ’s Deputy Governor Nakaso (see our prev. MMN) n pressured price to 101.39.

Today, the greenback shud remain supportive as the release of solid U.S. inflation and existing home sales numbers y’day determines that the U.S. economy continues to improve n is in need of less support fm the Federal Reserve. Therefore, buying dlr on dips in anticipation of next intra-day upmove is recommended, however, as broad outlook is consolidative n in an absence of U.S. economic events in U.S. today, reckon renewed selling may emerge below last Wed’s high of 101.79 n yield retreat later.

At the moment, bids are noted at 101.25/20 n around 101.10 with stops emerging just below 101.00. On the upside, offers are placed at 101.55/60 n then 101.70 with mixture of offers n stops located at 101.95/00.

Earlier quoting source fm the Nikkie which said Abe advisers urge an initial 2% corporate tax cut.

30

[B]Intra-Day Market Moving New and Views USD/JPY AUD/USD

24 Jul 2014[/B] [I]00:42GMT[/I]

[B]USD/JPY[/B] - 101.53...  BoJ's board member Shirai gave the following statements:

‘BoJ sees long-term inflation expectations in moderate rising trend, must closely monitor whether this trend will continue;
transforming public’s deflation mindset will take some time but positive developments gradually starting to spread;
BoJ’s goal of “sustaining 2% inflation in stable manner” is equivalent to stabilizing long-term inflation expectations at around 2%;
assigning too many objectives to monetary policy without allocating sufficient policy tools may be potentially problematic.’

Japan June trade balance -822.2 bln yen, exports -2.0% y/y n imports +8.4%.

[B]24 Jul 2014[/B] [I]01:54GMT[/I]
[B]AUD/USD[/B] - … Despite Aussie’s retreat from yesterday’s high of 0.9463 ahead of Asian open, price staged a strong rebound from 0.9435 after release of better-than-expected China HSBC manufacturing PMI and rose to 0.9470.

China HSBC July flash PMI came in at 18-month high of 52.0.

[B]Thursday [/B]will see NZ RBNZ rate decision, trade balance, imports, exports, Japan exports, imports, manufacturing PMI, China HSBC manufacturing PMI, France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, EU manufacturing PMI, services PMI, Italy retail sales, UK retail sales, U.S. jobless claims, manufacturing PMI and new home sales.