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

Trading Discussion Currencies
1

[B]Intra-Day Market Moving News and Views

09 Jun 2014[/B] [I]01:41GMT[/I]

[B]USD/JPY - 102.54 .[/B]… Despite last Fri’s brief but strong retreat to 102.12 after the release of U.S. non-farm payrolls data, the greenback subsequently rebounded to 102.61 and then extended marginal gain to 102.65 in Asian morning today b4 retreating. Bids are now located at 102.45-40 and more buying interest is noted at 102.30-25 with stops only seen below 102.10. On the upside, some offers are tipped at 102.65 and 102.75-80 with stops are reported above 102.80 and 103.00.

On the data front, Japan’s gross domestic product (GDP) grew an annualized 6.7% in the first three months of the year, faster than economists’ forecast of 5.6% n a preliminary 5.9%. Besides, Japan reported a narrower current account surplus, 187.4 billion yen versus economists’ forecast of 322.5 billion yen.

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

Japan GDP revised, consumer confidence index, economy watch, euro zone Sentix index, Canada house starts. Market in Germany, France and Switzerland will be closed [B]on Monday. [/B]

Australia NAB business confidence, NAB business conditions, invest housing finance, housing finance finance, China PPI, CPI, unemployment rate, retail sales, France industrial output, Italy industrial output, GDP, U.K. industrial output, manufacturing output, U.S. wholesale inventories, wholesale sales [B]on Tuesday. [/B]

Australia consumer sentiment, U.K. average earnings, claimant count unemployment change, ILO unemployment rate, U.S. Federal budget [B]on Wednesday.
[/B]
Japan machinery orders, U.K. RICS housing survey, Australia unemployment rate, employment, France CPI, current account, euro zone industrial production. U.S. retail sales, export prices, import prices, business inventories, Canada new housing price index, capacity utilization [B]on Thursday. [/B]

Japan capacity utilization, industrial output, France non-farm payroll, China retail sales, Germany CPI, HICP, Italy CPI, euro zone employment, Canada manufacturing sales, U.S. University of Michigan sentiment [B]on Friday.[/B]

2

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

10 Jun 2014[/B] [I]01:48GMT[/I]

[B]EUR/USD[/B] - 1.3592 ... Despite yesterday's brief bounce to 1.3669 at European opening, selling interest quickly emerged below last Friday's high at 1.3677 n euro ratcheted lower to as low as 1.3582 in New York morning b4 stabilising. Some offers are tipped at 1.3620 n 1.3640 whilst some bids are located at 1.3585-80 n more at 1.3570 with stops only seen below 1.3550.

There is no major economic data coming out from the eurozone.

10 Jun 2014 [I]01:26GMT[/I]
[B]USD/JPY[/B] - 102.38… State from Japna’s ECONMIN Amari says “wants to settle issue of corporate taxreform this week with LDP tax panel head”; “views are split on whether to clarify how much n when to cut corporate tax”.

Last night statement from the Fed’s Rosengren said: ‘urges predictable, transparent reductions in portfolio in years ahead to avoid financial risks; floats “seamless continuation” of QE tapering to reduce balance sheet; Fed could specify percentage of portfolio that would run off, increase that depending on economy; history shows policy ‘exits’ can be unsettled; Fed should focus on financial stability; backs raising IOER, doing reverse repos when time comes to tighten policy; holding mbs could help fed contain any future housing market bubbles.’

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

Japan Tertiary industry index, machine tools orders, China PPI, CPI, Australia NAB Business conditions, NAB Business Confidence, investing housing finance, housing finance, Switzerland unemployment rate, retail sales, industrial output, France industrial output, Italy industrial output, GDP, U.K. BRC retail sales, manufacturing output, industrial output, NIESR GDP estimate, U.S. Redbook, wholesale sales, wholesale inventories.

3

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

11 Jun 2014 [I]02:16GMT[/I]

[B] EUR/USD [/B]- 1.3525 … The single currency fell sharply from 1.3602 to 1.3543 yesterday and then 1.3524 in Asian morning today due to active cross selling in euro especially versus the Japanese yen (eur/jpy fell fm 139.43 to 138.46 n then 138.37 today). Offers are now tipped at 1.3545-60 n more at 1.3580. On the downside, stops at 1.3520 n 1.3500 are now in focus.

Bloomberg news reported y’day after a meeting hosted by Swedish Prime Minister Fredrik Reinfeldt at his country residence in Harpsund, German Chancellor Angela Merkel and U.K. Prime Minister David Cameron were still at loggerheads over the candidacy of Jean-Claude Juncker to head the European Commission. Merkel urged her fellow leaders to proceed in the “European spirit” to enable compromise. EU President Herman Van Rompuy signaled the choice of the next commission president will be part of a package of appointments to high European posts, increasing the scope for a negotiated deal with the U.K.

11 Jun 2014 [I]01:50GMT[/I]

[B] USD/JPY[/B] - 102.34 … The greenback fell to 102.21 y’day due to active cross buying in Japanese yen on the selloff in Nikkei-225 index together with speculation that the Bank of Japan will refrain from expanding stimulus at a policy meeting this week. Offers are now tipped at 102.45-50 n more at 102.60 whilst mixture of bids n stops is located at 102.20 with more stops seen below 102.10 n 102.00.

BOJ Governor Haruhiko Kuroda will speak at a press conference following the central bank decision on June 13. A survey by Bloomberg polled June 3 to 6 showed that 9% of the economists expect additional monetary stimulus in July, down from 38% in the previous survey.

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

Australia Westpac consumer confidence, U.K. average weekly earnings, claimant count unemployment change, ILO unemployment rate, U.S. Federal budget

4

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

12 Jun 2014[/B] [I] 01:43GMT[/I]

[B]USD/JPY [/B]- 102.00 ... The greenback remained under pressure after yesterday's cross-inspired weakness to 101.87 due to renewed risk aversion. Nikkei-225 index currently drops by 195 points to 148734 following the retreat in global stock markets. Offers are now tipped at 102.10-20 and more at 102.30-40.

On the downside, mixture of bids and stops is located at 101.80.

12 Jun 2014 [I]00:23GMT[/I]

Statement from Japan govt. to cut corporate tax below 30% within a few years, citing a source familiar with the matter.
Reuters reported corp. tax in Japan is nearly 36% for large companies operating in Tokyo. Private-sector members of the govt.'s top economic and fiscal council have proposed cutting the rate to 25% to put it in line with international standards.

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

New Zealand RBNZ rate decision, U.K. RICS housing survey, Australia unemployment rate, Japan machinery orders, BoJ monetary policy meeting (12th-13th June), France CPI, current account, euro zone industrial production, U.S. jobless claims, retail sales, import prices, export prices, business inventories, Canada new housing price index.

5

[B]Intra-Day Market Moving News and Views

13 Jun 2014[/B] [I]01:56GMT[/I]

[B]USD/JPY[/B] -  ... Despite staging a brief bounce to 102.14 yesterday, the greenback ratcheted lower in New York and fell to an intra-day low of 101.61 on speculation that continued speculation that the BoJ will refrain from expanding stimulus measures at Fri's monetary meeting, however, short-covering in late NY lifted the pair to 101.82 in Asian morning. Bids are located at 101.65-60 whilst some offers are tipped at 102.00-10.

BOJ is likely to announce its rate decision at 02:30-03:30GMT. Most economists predict no policy change. The BOJ has kept its policy of buying about 7 trillion yen ($68.8 billion) of government bonds a month since April 2013.

Nikkei-225 index currently drops by 95 points to 14877, following the sell off in U.S. stock markets.

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

Bank of Japan rate decision, Japan industrial production, China industrial output, retail sales, Germany CPI, HICP final, Italy consumer prices final, CPI, euro zone employment, trade balance, U.S. PPI, University of Michigan consumer sentiment.

6

[B]Intra-Day Market Moving News and Views

16 Jun 2014[/B] [I]01:45GMT[/I]

[B]USD/JPY [/B] ... Despite dlr's rebound from last Thursday's low at 101.61 to 102.14 on Fri, the greenback ratcheted lower to 101.85 in Asian morning as Nikkei-225 index dropped by 99 points to 14998 due to geopolitical worries as violence escalated in Iraq, and together with Prime Minister Shinzo Abe's pledge to cut corporate taxes last week failed to lift investor sentiment.

Offers are tipped at 101.95-00 and 102.10. On the downside, bids are located at 101.70-65 with stops building up below 101.60 and 101.40.

Investors are now focusing on this week’s important event that whether the Federal Reserve will provide new hints or not on the timing of interest rate hikes when it concludes its two-day policy meeting on Wednesday.
U.S. dollar may rally if there is any hawkish comments by Fed Chair Janet Yellen.

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

U.K. Rightmove house prices, euro zone inflation reports, U.S. New York Fed manufacturing, industrial output, New long-term TIC flow, capacity utilization, NAHB housing market index [B]on Monday. [/B]

Japan BoJ meeting minutes, RBA meeting minutes, Switzerland producer/import price, Italy trade balance, U.K. CPI, PPI, RPI, Germany ZEW current conditions, ZEW economic sentiment, U.S. CPI, housing starts, building permits [B]on Tuesday. [/B]

New Zealand current account, Japan exports, imports, trade balance, China house prices, U.K. BoE MPC vote outcome, Switzerland ZEW investor sentiment, Canada wholesale trade, U.S. Current account, FOMC rate decision [B]on Wednesday. [/B]

New Zealand GDP, Japan Tankan, U.K. Retail sales, CBI trends, U.S. Consumer confidence [B]on Thursday.[/B]

Germany producer prices, euro zone current accounts, Italy industrial orders, U.K. PSNCR, Canada CPI, retail sales [B]on Friday.[/B]

7

[B]Intra-Day Market Moving News and Views

18 Jun 2014 [/B] [I] 01:58GMT[/I]

[B]USD/JPY[/B] -  ... The greenback maintained a firm undertone in Tokyo morning after y'day's cross-inspired rebound to 102.24 due to the release of stronger-than-expected U.S. inflation data. The rise in Japanese equities (Nikkei-225 index rose by 65 points to 15041) is likely to support the pair. Bids are now located at 102.05-00 n more at 101.90 with stops only seen below 101.80 n 101.60. Offers are now tipped at 102.30-40 n further out at 102.55-60.

According to the minutes of the May 20-21 board meeting released earlier today, most board members said the Bank of Japan will check risks and make adjustment as needed.

Below are minutes from the BOJ :

members expressed the view that it was appropriate for BOJ to continue to steadily pursue QQE, as such easing had been exerting its intended effects;
members shared recognition QQE effects continued to firmly take hold;
members shared the recognition that, in a situation where nominal interest rates had been stable, real interest rates were declining on the back of a rise in inflation expectations;
gov’t rep. said supply-side constraints had surfaced in the form of labor shortages, due to the current sustained economic recovery; members shared view global markets had been calm on whole though some nervousness observed reflecting geopolitical risks such as Ukraine;
some members said recent U.S., European long-term rate falls may reflect market awareness of weaker outlook for medium- to long-term economic growth;
members shared view overseas economies, mainly advanced economies, would recover moderately;
members concurred that growth momentum in the ASEAN countries remained weak.

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

New Zealand current account, Japan trade balance, exports, imports, BoJ meeting minutes, China house prices, U.K. BoE meeting minutes, BoE MPC vote outcome, Switzerland ZEW investor sentiment, Canada wholesale trade, U.S. current account, FOMC rate decision, QE total.

8

[B]Intra-Day Market Moving News and Views

20 Jun 2014 [/B] [I]02:03GMT[/I]

[B]USD/JPY - [/B]... The greenback recovered briefly after retreating from Wednesday's high at 102.35 to 101.74 yesterday, suggesting further sideways trading would be seen as there is no major economic data coming out from Japan and U.S. Offers are now tipped at 102.00-05 whilst some bids are located at 101.75 and 101.65 with stops seen below 101.60.

U.S. dollar is likely to move narrowly versus the Japanese yen as currency volatility fell to a record amid prospects a sluggish U.S. economy will prompt the Federal Reserve to hold interest rates near zero for longer.
Bank of Japan Governor Haruhiko Kuroda will speak later today.

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

Germany producer prices, euro zone current account, Italy industrial orders, U.K. PSNB, PSNCR, Canada CPI, retail sales.

9

[B]Intra-Day Market Moving News and Views

20 Jun 2014[/B] [I]08:34GMT[/I]

USD/JPY - Statement from senior BoJ official says 'inappropriate to say BoJ's QQE will be terminated automatically in 2 years irrespective of economic developments; prematre to discuss when n how BoJ shud exit fm QQE, but it has a variety of tool n there are many ways to exit; redemption of JGB portfolio, rise of interest rate on excess reserves cud be considered as being among tools if BoJ were to exit; actual combination n sequencing of these tools will surely depend on developments in economy, prices n financial mkts at the time of exit.'

Earlier statement from BoJ Governor Haruhiko Kuroda :

‘won’t hesitate to adjust policy if needed to met price target, watching upside, downside risks; Japan’s economy recovering moderately, price conditions improving sharply; BoJ’s QE exerting intended effect; don’t see any changes in inflation trend after Apr sales tax hike; exports having been recently flat on continued weakness in ASEAN economies; positive movements broadening in financial sectors, as well as in economic, price developments.’

10

[B]Intra-Day Market Moving News and Views

23 Jun 2014[/B] [I]02:13GMT[/I]

[B]USD/JPY [/B]- ... Despite last Fri's cross-inspired rebound to 102.20 in part due to the gain in Nikkei-225 index futures following the rise in U.S. stock markets, the greenback retreated briefly as offers are reported at 102.20 n more at 102.30-35. On the downside, bids are located at 101.85-80 with stops building up below 101.70 n 101.60.

The Official Monetary and Financial Institutions Forum, a London-based research group, issued a report last week that concluded central banks were buying equities to compensate for lost revenues on their reserves amid zero interest rates. The report also showed global public investors, including sovereign wealth and pension funds as well as central banks, have bought at least $1 trillion of publicly quoted equities in recent years.

BoJ’s governor Kuroda will speak in Tokyo at 06:00GMT.

23 Jun 2014 [I]01:48GMT[/I]
[B]AUD/USD[/B] - … The Australian dollar jumped to 0.9430 after the release of much stronger-than-expected China’s HSBC manufacturing PMI data which came in at 50.8 versus the economists’ forecast of 49.7 n previous reading of 49.4.

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

China HSBC manufacturing PMI, France Markit manufacturing PMI, Markit service PMI, Germany Markit service PMI, Markit manufacturing PMI, euro zone Markit manufacturing PMI, Markit service PMI, U.S. Markit manufacturing PMI, U.S. existing home sales [B]on Monday. [/B]

Switzerland trade balance, Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.S. consumer confidence, new home sales [B]on Tuesday. [/B]

Germany Gfk consumer sentiment, Italy retail sales, consumer confidence, U.K. nationwide housing price, CBI distributive trades, U.S. PCE, durable goods, GDP, Markit service PMI [B]on Wednesday. [/B]

France business climate, U.S. initial jobless claims, PCE price index, core PCE, personal consumption, personal income, Switzerland SNB quarterly bulletin [B]on Thursday. [/B]

New Zealand trade balance, exports, imports, U.K. Gfk consumer confidence, Japan CPI core Tokyo, France consumer spending, GDP, Switzerland KOF indicator, Italy business confidence, euro zone business climate, consumer confidence, economic sentiment, industrial sentiment, service sentiment, Germany CPI preliminary, HICP preliminary, Canada producer prices, University of Michigan consumer sentiment [B]on Friday.[/B]

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.