AceTraderForex Apr 15: Intra-Day Market Moving News and Views

Trading Discussion Currencies
1

[B]Intra-Day Market Moving News and Views
15 Apr 2014[/B] [I]01:30GMT[/I]

[B]AUD/USD - 0.9400.[/B].. Austrlia Central bank minutes states 'cash rate to remain steady for some time given economic outlook; A$ still high by historial standard, less supoortive of economy given latest rise; board saw further promising signs low rates working may through economy; strong pick up in home building ahead, no metion of any concerns at rising home prices; evidence consumer demand had strengthened, liaison suggestsed some easing in retail sales; exports growings strongly, board noted pick up i non-residential buidling approvals; falling mining investment, weak public demand to constrain growth for some time;

Japan EconMin Amari says 'Japan stocks falling on influence fo Ukarine situation, U.S. markets; regarding further BoJ easing, market is moving simply on its own expectations and disappointment; expects market will respond appropriately as gov’t flshes out growth stratgegy.'
Japan FinMin Aso says ‘Japan’s position at G20 was the wage gains and improving sentiment show economy is in good shape.’

NZ FinMin Bill English says ‘Treasury sees growth of 2% to 4% a year out to 2018.’

[B]14 Apr 2014[/B] [I]23:30GMT[/I]
White House says ‘Obama expressed “grave concern” in call to Putin over Russian government support for Pro-Russian separatists in Ukraine; Obama urged Putin to use his influence with armed, Pro-Russian groups to convince them to depart building in Ukraine they have seized; in call Obama told Putin Russia must withdraw troops from Ukraine’s border to reduce tensions, noted Ukraine government had acted with "remarkable restraint; told Putin costs to Russia would increase if its actions in Ukraine persist.’

Obama administration offical says ‘Obama’s call with Putin came at Russians’ request, was “frank and direct”; made clear to Putin that diplomatic path in Ukraine crisis was preferred path, but "Russia’s actions’ are neither consistent with or conducive to that.’

2

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

[B]16 Apr 2014 [/B] [I]01:28GMT[/I]
[B]USD/JPY - 102.04[/B] Japan FinMin Aso says 'can’t Ok crop. tax cut without alternative revenue.'
Japan FinMin Aso says ‘pull back from sales tax hike not as big as expected; downturn in consumption from pent-up demand ahead of sales tax hike smaller than expected from now.’

    Fed's Kocherlakota says 'wage growth has been slow because of low demand; makes goods, services seem more expensive; calls to "audit the Fed" are really calls for politicians to have more say on monetary policy; I am an active "learner" on Bitcoin, very interesting to monitor and keep track of; interested in Bitcoin as a payment system, not as a currency that competes with dollar; it is not clear whether raising the minimum wage adds to, or reduces, unemployment.'
    Fed's Kocherlakota says 'we need to do a better job of letting people know "the Fed has economy's back; we can afford to stay accommodative as the recovery proceeds; I expect interest rates to rise gradually as recovery continue; If we see inflation rise rapidly, will raises rates rapidly in response; I am fully committed to doing whatever it takes to keep inflation, because of tools at Feds' disposal; a lot of unemployment is cyclical, and can be affected by monetary policy.'

[I]00:31GMT[/I]
[B]AUD/USD - 0.9337 [/B]- Australia Mar Westpac leading index rose to 0.0% from -0.1% in Feb.

BoJ’s Kuroday says ‘expects wider range of prices in Japan to rise ahead.’
‘BoJ’s QE steadily showing effect on Japan economy; Japan making steady progress toward BoJ’s 2% price target; Japan’s economy to weaken Q2 on effect of sales tax hike but resume growth above a potential from around summer; Tankan showed board range of Japan firms seen cautious of economic outlook but think firms’ positive stance on business maintained.’

3

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

17 Apr 2014 [I]01:42GMT[/I]
[B]USD/JPY - 102.04.[/B]… Japan FinMin Aso says 'important Japan show resolve to restore gov’t finance.'
BoJ’s Kuroda says 'Japan’s economy continues to recovery moderately; Japan’s economy likely to continue recovering as a trend; Japan making steady progress in meeting BoJ’s price target; BoJ will maintain its QE programme until needed to sustainably meet it price target; BoJ will adjust policy when needed, looking at upside, downside risks to economy, prices; Japan’s financial system maintaining stability as a whole.'
Japan Pm Abe says ‘we must make a success of Abenomics.’

China’s Premier Li says ‘China to keep, monetary policy stance unchanged; to make efforts to ensure meeting 2014 goals; China economic operation within reasonable range; growth around 7.5% within reasonable range; growth can be little higher or lower than 7.5% China not considering expanding deficit; China not considering strong stimulus now; reiterates development key to resolve all problems.’

4

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

[B]18 Apr 2014[/B] [I]01:29GMT[/I]

[B]USD/JPY - 102.50…[/B] Japan’s FinMin Taro Aso who said Japanese govt’s June growth strategy will include GPIF (Government Pension Investment Fund, the pension fund for Japanese public sector employees).

In Thur’s NY session, Japan’s 5th largest life insurer, Mitsui Life Insurance, plans to increase its yen bond holdings by about 100 bln yen ($97 mil) in the financial year to March, its investment planning manager said on Thur.
Yoichiro Matsuta, the head of investment planning depart., told a news conference that the company also plans to raise its foreign bond holdings by about 50 bln yen, including those with n without currency-hedging.

[B]18 Apr 2014 [/B] [I]01:18GMT[/I]
USD/JPY - 102.53… Usd regained traction in Thur’s NY session as release of upbeat U.S. data lent support to the greenback. Later, breaking news of a joint statement following 4-way talks in Geneva on the crisis in Ukraine ended with an accord which was aimed at taking the first steps of reducing recent tensions in the conflict (see our update at 16:42GMT) boosted risk sentiment, dlr rallied broadly, the pair climbed abv Wed’s 102.37 high to 102.47. Another wave of st speculative buying in the dlr emerged at Tokyo open as the Nikkei continues its near term upmove, dlr hit an intra-day high of 102.57.

Despite intra-day resumption of this week’s erratic upmove, beware of a swift pullback in this holiday-thinned Tokyo session as literally all key centres are closed for the Easter Friday holiday, so intra-day volatility may increase when Tokyo market ends.

5

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

[B]21 Apr 2014[/B]

More on the renewed tensions in the Ukraine, although U.S. President Obama has been the most vocal person in calling for more sanctions on Russia if the crisis in Ukraine flares up, some in the 4-side accord are placing foucs on de-escalation with Russia. Reuters news reported on Sun German Foreign Minister Frank-Walter Steinmeier said he wished as much emphasis would be placed on preventing an escalation of tensions with Russia over Ukraine as there is at the moment in threatening economic sanctions.

In an interview to appear in Germany’s Bild am Sonntag newspaper on Sun, Steinmeier appeared to be referring to threats from the United States as well as fm within Germany about the need for economic sanctions against Russia.

Steinmeier said “I sometimes wish that the same engagement being used for the debate about sanctions would also exist when it comes to avoiding a further escalation.” He then added “We’ve already exhaustively discussed the sanctions issue.”

6

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

[B]22 Apr 2014 [/B] [I]02:37GMT[/I]

[B]USD/JPY - 102.65.[/B]. Dlr pares initial gain after rising for 7-consecutive days to a near 2-week high of 102.73 at Tokyo open as release of upbeat U.S. data on Mon n a higher open in the Nikkei 225 boosted risk appetite, st specs sold yen broadly, however, offers at 102.70/80 fm Japanese exporters checked intra-day gain.

Expect minor range trading to take place b4 recent erratic upmove fm Apr’s low at 101.32 resumes. Initial bids are noted at 102.55-50 n more below with a mixture of more buying interest n stops near 102.35-30, suggesting buying dlr on dips is the way to go.

Japan’s Economy Minister Akira Amari says “still fees considerable gap in TPP (Trans-Pacific Partnership) talks with U.S.”.
Japan FinMin Taro Aso says ‘expect strengthening of Japan-US alliance through this week’s summit.’

7

[B]23 Apr 2014[/B] [I]02:00GMT[/I]

[B]USD/JPY - 102.59[/B] ... U.S. dollar ratcheted higher from yesterday's low at 102.41 to 102.69 in Tokyo morning due to the rise in Nikkei-225 index which rose by more than 100 points, however, selling interest emerged below yesterday's high at 102.73 n price retreated to 102.57 after the release of less-than-expected Australian CPI data. Offers are tipped at 102.70 whilst bids are located at 102.45/50 with stops building up above 102.75 n below 102.40.

Japan FinMin Aso says ‘need more time before Abeconomic reaches entire economy.’

BoJ’s Nakaso says ‘if change to BoJ’s outlook, will make needed adjustment; thinks Japan economy resilient enough to ABSorb tax hike.’

Japan FinMin Taro Aso says ‘Must ensure to keep Japan economy strong this year so government can proceed with next sales tax hike to 10%.’

BoJ’s Kuroda sayswon’t aim to lower fiscal burden after BoJ hits target; sustainable government finances need for sustainable growth; strongly hope government steadily tackles fiscal reform.'
Japan FinMin Taro Aso says ‘Japan’s regional economies are recovering.’

[B]23 Apr 2014[/B] [I]01:31GMT[/I]

[B]AUD/USD - 0.9328[/B]... Australia 1Q CPI came in at 0.6% Q/Q n 2.9% Y/Y, lower than the forecast of 0.8% n 3.2% respectively.

Aud sharply retreats from 0.9377 to 0.9325 after the release of CPI data.

23 Apr 2014 01:45GMT
China HSBC manufacturing PMI came in at 48.3, same as expectation.

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

[B]24 Apr 2014[/B] [I] 02:14GMT [/I]

     [B]   NZD/USD - 0.8630[/B] ... New Zealand's central bank raised its benchmark cash rate by 25 basis points to 3.00 percent earlier today, as widely expected.

RBNZ said there would be further increases to keep on top of inflation pressures in the strongly-growing economy.

New Zealand dollar strengthened to as high as 0.8638 after hawkish statement by Reserve Bank Governor Graeme Wheeler.

[B]24 Apr 2014[/B] [I] 01:57GMT[/I]
[B]
USD/JPY - 102.45[/B] … Although the greenback has staged a rebound to 102.57 in Australian morning today after yesterday’s cross-inspired retreat from 102.69 to 102.17 (Europe), renewed selling below 102.55/60 capped dlr’s upside n more offers are tipped at 102.65/70 with stops only seen above 102.75.
Nikkei-225 index pared some of early losses n currently dropped by 16 points to 14530.

Trading is likely to be thin today as investors are waiting for Friday’s release of Tokyo CPI data, the first reading after the sales tax increase.
Besides, BOJ board members will set policy on April 30, when they will release their latest forecasts on inflation and economic growth.

9

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

[B]28 Apr 2014[/B] [I]01:52GMT[/I]

[B]USD/JPY - 102.10[/B]..  source from JiJi news - Japan's FinMin Taro Aso says on Mon yen has weakened due to monetary, fiscal stimulus, will continue with this direction. He says he would stick to this policy stance.

Several minutes earlier, Bloomberg reported comments from Aso who said likely can’t avoid corporate tax cut to keep competitiveness; need a broad discussion of corporate tax including the tax base; wants the tax panel to carefully consider corporate tax.

Japan's Nikkei stock average opened down 0.9% due to increased tensions in Ukraine as the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, the President of the European Council and the President of the European Commission (G7) joined in over the weekend expressing the deep concern at the continued efforts by separatists backed by Russia to destabilize eastern Ukraine and our commitment to taking further steps to ensure a peaceful and stable environment for the May 25 presidential election.

On the data front, Japan’s retail sales rose by 6.3% n 16.1% in March, their fastest pace in 17 years ahead of a sales tax hike, versus economists’ forecast of 6.0% n 13.8% respectively. However, the Japanese yen showed little reaction to the data as investors are awaiting the release of new economic projections by the Bank of Japan, following its meeting on Wednesday.

Market players expected the BOJ is likely keep its inflation forecast for fiscal 2015 roughly unchanged from the current 1.9% and is also set to estimate fiscal 2016 inflation close to 2%.

Some offers are tipped at 102.30-40 n more at 102.60/65 whilst mixture of bids and stops is located at 101.90 n 101.85 with bids are reported at 101.55/60.

10

[B]Intra-Day Market Moving News and Views

01 May 2014[/B] [I]01:54GMT[/I]

[B]USD/JPY - 102.19[/B] … Despite yesterday’s sharp fall from 102.67 to 102.03 in NY, dlr staged a brief bounce to 102.30 in Tokyo morning due to the rise in Nikkei following the strength in global equities, however, renewed selling there capped dlr’s upside n price retreated as Nikkei-225 index pared most of early gains. Trading is expected to be thin in Asia as Chinese players are absent today due to Labour Day holiday.

Some offers are tipped at 102.30-40 n more at 102.60/65 with stops only seen above 102.80. On the downside, mixture of bids n stops at 102.00 is in focus. More stops are located below 101.90 n 101.80.

[B]01 May 2014[/B] [I]01:32GMT[/I]

[B]AUD/USD - 0.9297 [/B]… Australian dollar maintained a firm undertone after the release of higher-than-expected Australia’s import and export prices which rose by 3.2% n 3.6% in Q1 versus economists’ forecast of 1.8% n 1.5% respectively.

11

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

[B]08 May 2014[/B] [I]01:50GMT[/I]

[B]USD/JPY - 101.82[/B] ... Despite dlr's brief drop below Tuesday's low at 101.50 to 101.43 yesterday, the greenback ratcheted higher to a session high of 102.01 in NY after Federal Reserve Chair Janet Yellen indicated continued central bank support for the U.S. economy.

Price later retreated briefly to 101.58 on profit-taking before rising again to 101.96 in Asian morning today.
Bids are now located at 101.70 and 101.60 whilst some offers are tipped at 102.00 with stops only seen above 102.20.

Yellen said the U.S. economy was still in need of support from the central bank given the “considerable slack” in the labor market. She also cited the housing sector and geopolitical tensions as issues of concern.

[B]08 May 2014[/B] [I]01:36GMT[/I]

[B]AUD/USD - 0.9355[/B] ... The Australian dollar jumped to 0.9362 after the release of better-than-expected Australian jobs report. Australia's employment change was 14,200 in April versus economists' forecast of 8,800 together with upwardly revised reading of 21,900 from 18,100 in March. Australian unemployment rate came in at 5.8% versus the expectation of 5.9%.
12

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

[B]09 May 2014[/B] [I]01:45GMT[/I]

[B]USD/JPY - 101.67.[/B]. The greenback pares Thur's loss in quiet Asian trading as intra-day rebound in the Nikkei (currently up by 130 points at 14163) has prompted minor broad-based selling in the yen vs usd & eur.

Despite o/n cross-inspired decline to 101.47 in NY session, bids abv Wed’s 3-week low contained dlr’s weakness n traders cited minor short-covering in Australian morning, suggesting choppy sideways trading with mild upside bias is in store, however, offers reported at 101.90/00 are likely to check intra-day rebound, so whilst trading on both sides of the market for intra-day trade is okay, day traders shud sell the greenback on recovery.

09 May 2014 [I] 01:40GMT[/I]
[B]AUD/USD - 0.9357…[/B] The RBA just released its quarterly monetary statements Reuters reported:

RBA on Fri said record low interest rates are likely to be needed for some time yet as there should be spare capacity in the economy for the next couple of years.

In a 68-page report, RBA highlighted several key headwinds surrounding its outlook including a likely sharp decline in mining investment n a tightening in fiscal conditions. The net result was to give the impression that rates could stay low for a very long time to come.

“The Board’s view is that the current accommodative monetary policy setting is likely to be appropriate for some time yet,” the RBA said.

The RBA did note that the cash rate, at a record low 2.5%, was imparting a substantial degree of stimulus that should help support the economy.

The RBA played down a surprisingly mute first quarter inflation reading saying the data appeared to have “overstated any change in inflationary pressures.” “It is likely that the past two quarters of inflation data have reflected an element of statistical noise,” the RBA said. The central bank noted the path of the exchange rate was also a “significant source of uncertainty” for predicting growth and inflation, but suggested it should weaken over time.

13

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

[B]12 May 2014[/B] [I]01:47GMT[/I]

[B]USD/JPY - 101.97[/B]
The greenback ratcheted higher to 102.05 against the Japanese yen in Asia today due to initial gain in Nikkei-225 index, following the rise in U.S. stock markets last Friday, however, investors may buy Japanese yen again due to an escalation in East-West tensions after pro-Moscow rebels declared victory in a referendum on self-rule in eastern Ukraine. Some offers are tipped at 102.20, 102.50 and 103.00 whilst some bids are located at 101.50 and 101.00.

Organisers of the weekend referendum said nearly 90 percent had voted in favour, possibly opening the way for the region to break away from Kiev in a conflict increasingly out of control.

[B]12 May 2014[/B] [I]01:34GMT[/I]

[B]AUD/USD - 0.9356 [/B]
Australian April business confidence index rises to 6 versus 4 in March. The Australian dollar bounces briefly from 0.9349 after the data.

14

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

[B]13 May 2014[/B] [I]01:47GMT[/I]
[B]
USD/JPY - 102.20[/B]
The greenback maintained a firm undertone in Asian morning today due to the rally in Nikkei-225 index (currently rose by 250 points) following the rise in global stock markets on Monday.
U.S. dollar extended gain to 102.24 in part due to active cross selling in jpy (eur/jpy rose to 140.73).
Bids are now located at 102.05-00 n 101.85 whilst offers are tipped at 102.30-40 with some stops seen abv 102.50.

Trading is likely to be thin in Asia as market players are waiting for the release of U.S. retail sales at 12:30GMT.
Besides, Federal Reserve Chair Janet Yellen is due to speak May 15 after tempering speculation last week that an improving economy will spur interest-rate increases.

13 May 2014 [I] 01:35GMT[/I]

[B]AUD/USD - 0.9353 [/B]
Australian home loans dropped by 0.9% m/m in March versus economists’ forecast of a rise of 1.0% n well below previous reading of a rise of 2.3%. Australian house price index came in at -1.2% q/q n 10.9% y/y against the expectation of 3.0% n 10.4% respectively.

The Australian dollar showed muted reaction after the release of house price data.
Some offers are tipped at 0.9365/70 n more at 0.9385-95 with stops only seen abv 0.9400. On the downside, mixture of bids n stops is located at 0.9340.

Investors are now paying attention to the release of China’s retail sales n industrial production data at 05:30GMT.

15

[B]Intra-Day Market Moving News and Views

14 May 2014[/B] [I]01:46GMT[/I]

[B]USD/JPY - 102.19[/B]
Although the greenback extended gain to 102.36 in Europe yesterday on renewed risk aversion due to the rally in Nikkei-225 index, U.S. dollar subsequently retreated to 102.06 in NY after the release of much weaker-than-expected U.S. retail sales data b4 recovering briefly to 102.33 in NY afternoon. Trading is relatively thin in Asia as Japanese equities moved narrowly inside 14350-14420 range. Some offers are tipped at 102.25-30 with stops seen abv 102.36 n 102.40/45. On the downside, mixture of bids n stops is located at 102.00.

On the data front, Japan’s domestic CGPI rose by 2.8% m/m n 4.1% y/y in April versus economists’ forecast of 2.8% m/m n 4.0% y/y and well abv previous readings of 0.0% n 1.7% in March, however, the rises are being attributed to the sales tax hike back on April 1. U.S. dollar showed muted reaction after the release of the data.

A piece of news fm Bloomberg worth mentioning, there’s about a 50-50 percent chance the BOJ will achieve its 2 percent goal for consumer-price increases, which could push the 10-year yield above 3 percent, said Kazuo Ueda, who served as a BOJ policy maker from 1998 to 2005, and was also senior adviser to the Government Pension Investment Fund.

16

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

[B]20 May 2014[/B] [I]02:07GMT[/I]

[B]USD/JPY - 101.57 [/B]... The greenback fell to a fresh 3-month low at 101.10 against the Japanese yen yesterday on renewed risk aversion due to the sell off in Nikkei-225 index, however, short-covering together with the rise in Japanese equities today following the rebound in global stock markets lifted the pair n price rebound to 101.60 in Asia. Bids are now located at 101.45/40 n more at 101.30-25 with mixture of bids n stops seen at 101.00 level.

The Federal Reserve will release minutes of its April 29-30 meeting on May 21. Fed Chair Janet Yellen is scheduled to give the New York University Commencement speech on the same day.

[B]20 May 2014[/B] [I]01:33GMT[/I]

[B]AUS/USD - 0.9311[/B]
RBA releases its minutes and said low rates appropriate for some time, rest of minutes as follow :

board considered current low rates to be appropriate for some time yet;
expansionary policy setting having expected effects on economy;
demand for labour remained subdued, likely to stay so for some time;
inflation consistent with target, forecast to remain so for next few years;
board noted overall growth in coming quarters likely to be below trend;
saw growth in domestic costs contained due in part to spare capacity in labour market;
forward-looking indicators improving but point to moderate jobs growth in months ahead;
recent data pointed to strong growth in dwelling investment in first half of 2014;
volume of iron ore and coal exports had risen strongly in recent months;
retail sales growth appeared to have moderated somewhat more recently;
pointed to some signs that recent slowing in china could be temporary;

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

Australia Conference board leading index, RBA meeting minutes, Japan all industry activity index, leading index CI, machinery tool orders, Italy industrial orders, current account, Germany PPI, U.K. CPI, RPI, PPI input and PPI output, ONS house price, Canada wholesale trade sales.

17

[B]Intra-Day Market Moving News and Views

22 May 2014[/B] [I]02:16GMT[/I]

[B]USD/JPY - 101.46[/B]
Despite yesterday’s resumption of decline from April’s high at 104.13 to a fresh 3-1/2 month low at 100.81 in European morning due to active cross buying in Japanese yen, subsequent rebound on active short-covering after holding above this year’s low at 100.76 (February) suggests choppy trading would continue. U.S. dollar later rebounded to 101.63 in New York after the release of FOMC minutes b4 trading sideways. Bids are now reported at 101.40-30 n more at 101.20-10 with stops only seen below 101.00. On the upside, mixture of offers n stops is tipped at 101.70 n more offers are noted at 101.90-00.

U.S. dollar showed muted reaction after early release of Markit Japan manufacturing PMI data which rose to 49.9 in May versus the previous reading of 49.4.

[B]22 May 2014[/B] [I]01:50GMT[/I]

[B]AUD/USD - 0.9248[/B]
The Australian dollar jumped to 0.9265 (Reuters) after the release of much stronger-than-expected China’s HSBC manufacturing PMI data.

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

New Zealand ANZ consumer confidence, Japan Markit/JMMA manufacturing PMI, China HSBA China manufacturing PMI, France business confidence, Markit France manufacturing PMI, Markit France Service PMI, Germany Markit/BME Germany manufacturing PMI, Markit Germany service PMI, euro zone Markit euro zone manufacturing PMI, Markit euro zone service PMI, U.K. GDP, PSNCR, private consumption, public sector net borrowing, exports and imports, CBI trends total orders, Canada retail sales, U.S. initial jobless claims, Markit U.S. manufacturing PMI, existing homes sales, leading index.

18

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

[B]23 May 2014 [/B] [I]01:58GMT[/I]

[B]USD/JPY - 101.75 .[/B]… The greenback ratcheted higher to 101.86 in Tokyo morning due to improved risk appetite as Nikkei-225 index rose by 125 points to 11463 following the rise in global stock markets. Bids are now located at 101.70-60 n more at 101.50 whilst offers are tipped at 101.90-00.

The Bank of Japan’s chief executor of its unprecedented monetary stimulus, Masayoshi Amamiya, is expected by central bank and Abe administration officials to be reappointed to a rare second term, according to people familiar with the discussions.

Amamiya has helped shape key policies as the central bank battles deflation in the world? third-biggest economy. After less than a year as Osaka branch manager, Amamiya, 58, got his old job back as head of the monetary affairs department in March 2013, about two weeks before Kuroda unveiled record easing on April 4.

[B]22 May 2014[/B] [I]20:03GMT[/I]

Fed’s Williams says ‘U.S. monetary policy “on road to normal”; normalizing will be gradual, Fed will be flexible; will be ‘challenges’ when Fed does begin to raise rates; challenges include added risks to financial stability from five years of easy policy; housing an “area of concern,” but expect improvement; sees 3 pct U.S. GDP growth in 2014 and 2015; sees unemployment hitting 5.25 pct-5.5 pct “natural” rate in 2016; wage growth should pick up as jobless rate falls; economic slack is main reason for abnormally low inflation; sees return to 2 pct; would take a ‘substantial shift’ in outlook to derail QE3 taper; raising fed’s policy rate is still “a good way off”.’

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

New Zealand ANZ consumer confidence, Germany GDP, exports, imports, Ifo business climate, Ifo current assessment, Ifo expectations, Italy retail sales, Canada CPI, U.S. new home sales.

19

[B]Intra-Day Market Moving News and Views
25 May 2014[/B] [I]23:09GMT[/I]

[B]EUR/USD - 1.3627.[/B]. On election results of the European Parliament, Reuters reported earlier Exit polls show surge in support for far right, Euroskeptics in European Parliament election.

Centre-right parties estimated to top European parliament vote with 211 seats out of 751.

Reuters reports according to official projections, centre-right parties are estimated to top European parliament vote with 211 seats out of 751.

Socialists seen in second place with 193 seats, Liberals third with 74,Greens 58, far left 47 n Eurosceptic parties seen winning about 129 seats in European parliament.

Reuters then reported Britain’s Eurosceptic UKIP party has won gains in elections to the European Parliament, so far polling more strongly than PM David Cameron’s Conservative party n the opposition Labour party, early results showed on Sunday.

With results for 10 out of 73 seats declared, the UK Independence Party, which wants Britain to leave the European Union, had won 4 seats, the opposition Labour party 3 seats, and the Conservatives 3 seats.

25 May 2014 [I]22:57GMT[/I]

[B]NZD/USD - 0.8545[/B].. Ratings agency Fitch said New Zealand Subnational ratings still underpinned by institutional framework.

Fitch Ratings says in a newly-published report that the overall strength of the New Zealand institutional framework remains a major positive credit factor for subnationals.

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

New Zealand trade balance, exports, imports, Germany Gfk consumer confidence, import price index, UK Spring Bank holiday, Nationwide house prices and U.S. Memorial day holiday [B]on Monday.[/B]

Japan business confidence, Swiss GDP, trade balance, Germany retail sales, France consumer confidence, Italy consumer confidence, UK BBA loans, U.S. durable goods, house prices, services PMI and consumer confidence on [B]Tuesday. [/B]

Australia Westpac leading index, China industrial profits, France PPI, Germany unemployment change, unemployment rate, Italy business confidence, economic sentiment, EU economic confidence, industrial confidence, consumer confidence, services confidence, business climate, UK CBI sales and U.S. MBA mortgage applications [B]on Wednesday. [/B]

Japan retail sales, Australia home sales, private capital expenditure, China leading index, UK business barometer, Canada current account, U.S. GDP annualized, personal consumption, GDP price index, core PCE, jobless claims and pending home sales [B]on Thursday. [/B]

New Zealand building permits, Japan jobless rate, household spending, national CPI, Tokyo CPI, industrial production, housing starts, construction orders, Swiss KOF leading indicator, Italy PPI, CPI, Canada GDP, U.S. personal income, personal spending, PCE and University of Michigan consumer confidence [B]on Friday.[/B]

20

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

[B]27 May 2014[/B] [I]01:56GMT[/I]

[B]USD/JPY- 101.93 [/B]

Despite yesterday’s initial gain to 102.05 on improved risk appetite due to the rise in Nikkei-225 index, the greenback retreated to 101.84 in thin trading conditions as U.K. n U.S. were closed on Monday.
Bids are now located at 101.80-75 and more at 101.65-60 with stops only seen below 101.60.
On the upside, offers are now tipped at 102.05-15 and more at 102.30-35.

A piece of yesterday’s news worth mentioning again, Bank of Japan Deputy Governor Kikuo Iwata said in a speech in Tokyo on Monday that an economy “with low real growth rates under mild inflation” is possible.

U.S. will release its durable goods orders, house price purchase index, Markit US services PMI n consumer confidence data at 12:30GMT, 13:00GMT, 13:45GMT n 14:00GMT respectively.

27 May 2014 [I]00:06GMT[/I]

[B]NZD/USD - 0.8564 [/B]

New Zealand Institute of Economic Research (NZIER) says slumping house sales ‘significant risk’ to outlook; sees economy expanding 3.5% in 2014; says RBNZ may pause rate hikes after June if growth slows.

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

Japan business confidence, Swiss GDP, trade balance, Germany retail sales, France consumer confidence, Italy consumer confidence, UK BBA loans, U.S. durable goods, house prices, services PMI and consumer confidence.