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Intra-day Market Moving News
20 Aug 2018 13:29 EUR/USD - 1.1437... Reuters news, Italy Cabinet Undersecretary Giorgetti says : 
 
- does not exclude that 2019 deficit could be above 3 pct of GDP 
- "I'm not ruling out anything", when asked if can rule out 2019 deficit will exceed 3 pct of GDP 
 
Reuters then reported a top Italian government official on Monday declined to rule out that next year's budget deficit could be above the European Union's ceiling of 3 percent of gross domestic product, linking the matter to last week's collapse of a motorway bridge. 
 
Asked in a television interview if he could exclude that the deficit would breach the 3 percent limit, cabinet undersecretary Giancarlo Giorgetti, of the right-wing League party, replied: "I'm not ruling out anything." 
 
20 Aug 2018 11:55 EUR/USD - 1.1422... Reuters news, CDU senior official says : 
 
- Merkel made clear at party meeting that she sees no need for special German financial aid for Turkey at time being 
 
Reuters then reported German Chancellor Angela Merkel told her Christian Democrats (CDU) at a meeting that she saw no urgent need to offer financial aid for Turkey to ease its currency crisis, the conservative party's general secretary said on Monday. 
 
"She made it clear again that she sees no urgency at the moment for special aid for Turkey," Annegret Kramp-Karrenbauer told reporters after the CDU board meeting attended by Merkel. 
 
20 Aug 2018 10:25 GBP/USD - 1.2732... The British pound remained under pressure in early trading n weakened to 1.2738 in Asian morning due partly to gunshot incident in US embassy in Ankara. Cable met renewed selling at 1.2748 in early European morning n dropped to 1.2730 in tandem with euro. 
 
Since there is no major eco. data due today, orderbook remains light with offers seen at 1.2730/40 n more abv at 1.2750/60 with stops building up abv there whilst initial bids are noted at 1.2710/20, suggesting choppy trading with downside bias wud be seen.
20 Aug 2018 10:10 Reuters reported the attack on the U.S. Embassy in the Turkish capital was a clear attempt to "create chaos", the spokesman for President Tayyip Erdogan said on Monday, condemning the early morning drive-by attack. 
 
Several gunshots were fired on Monday from a vehicle at the U.S. Embassy in Ankara, causing no casualties. Ibrahim Kalin also said on Twitter than the incident was being investigated. 
 
20 Aug 2018 10:03 EUR/USD - 1.1409... Reuters reported a slew of austerity measures undertaken by Greece as part of its bailout will lay the basis for the country's sustainable recovery, European Economics Commissioner Pierre Moscovici said on Monday as Greece exited the last of its three bailouts. 
 
Since the debt crisis exploded in early 2010, four successive Greek governments have struggled to stave off bankruptcy, relying on the biggest bailout in economic history, more than 260 billion euros lent by Greece's euro zone partners and the IMF. 
 
He said the Greek economy is expected to expand around 2 percent this year and next after growing 1.4 percent last year. 
 
20 Aug 2018 10:02 Continues from previous update... 
 
In Germany, private consumption would continue to drive growth. "(It) ...should benefit from a strong labour market and strong wage increases, thus retaining its role as a key pillar of growth," the Bundesbank added. 
 
It also predicted that the German government budget surplus would rise further this year and its debt could fall close to the European Commission's benchmark of 60 percent of GDP by end of the year. 
 
20 Aug 2018 10:01 Continues from previous update... 
 
The Bundesbank said that while short-term manufacturing expectations had stabilized at elevated levels and order books were healthy, industry's contribution to growth was likely to be modest, due in part to carmakers' difficulty in adjusting to new emission measurement standards. 
 
The central bank made no mention of the potential impact on Germany of worldwide trade tensions triggered by moves in Washington to ramp up tariffs on U.S. imports. 
 
In reference to global manufacturing sentiment, it said trade disputes were unlikely to have been a decisive negative factor, but an escalation could significantly impact the global recovery. 
 
20 Aug 2018 10:00 EUR/USD - 1.1408... Reuters reported growth in Germany's economy could slow a little in the third quarter, with private consumption driving the expansion and industry contributing little, the Bundesbank said on Monday. 
 
Europe's biggest economy shifted into higher gear in the second quarter, expanding faster than predicted, a relief for investors who feared a wobble that hit the euro zone in the first three months of the year might signal the end of the bloc's five-year growth run. 
 
The economy grew by 0.5 percent in the second quarter and 0.4 percent in the first, with underlying growth momentum only "marginally" ahead of what the Bundesbank considers to be the economy's potential. 
 
With the euro zone expansion considered self-sustaining and employment at a record high, the European Central Bank has dialled back stimulus in several steps already, arguing that the bloc can afford somewhat less support after years of extraordinary help. 
 
20 Aug 2018 09:33 EUR/USD - 1.1406... Reuters news, German government spokesman says : 
 
- question of financial assistance for Turkey is not relevant at the moment 
- it is up to Turkey to decide whether it wants to ask IMF for help 
 
 
20 Aug 2018 08:04 Reuters news, Turkish President Erdogan says : 
 
- attack on Turkish economy is no different from attack on flag 
- attack on Turkish economy no different from attack on our call to prayer 
- the aim is to bring Turkey and its people to their knees 
- Turkey has the power and ability to overcome all this 
- those who think they can make Turkey give up through exchange rate will soon see they are mistaken 
 
20 Aug 2018 06:59 GBP/USD - 1.2738... Reuters reported Britain's vote to leave the European Union could "in theory" be reversed although there is a still a strong probability it will go ahead, said the European Commissioner for Economic and Financial Affairs Pierre Moscovici on Monday. 
 
20 Aug 2018 05:22 Continues from previous update.... 
 
Police teams were searching for the assailants, who fled in a white car after the attack, CNN Turk said. Four or five gunshots were heard, it said. 
 
Broadcaster Haberturk showed police teams inspecting one of the entrances to the embassy and apparent damage caused by a gunshot could be seen in one window. It said empty cartridges were found at the scene. 
 
The U.S. embassy in Ankara and the consulate in Istanbul have been the targets of attacks by militants and have faced numerous security threats in the past. 
 
20 Aug 2018 05:21 USD/MAJORS - Reuters then reported several gunshots were fired from a vehicle at the U.S. embassy in the Turkish capital, Ankara, on Monday, hitting a window in a security cabin but causing no casualties, police and broadcaster CNN Turk reported. 
 
The attack coincided with a deepening row between Ankara and Washington over the trial of a U.S. pastor in Turkey. 
 
A police officer told Reuters at the scene the drive-by shooting occurred around 5 a.m. (0200 GMT) and that nobody was hurt. The embassy was set to be closed this week for a public holiday to mark the Islamic Eid al-Adha festival. 
 
20 Aug 2018 04:34 USD/MAJORS - Breaking news on Reuters citing source from CNN in Turkey, gunshots fired from vehicle at U.S. embassy in Ankara, smashing window, no casualties. 
 
Reuters then reported several gunshots were fired from a vehicle at the U.S. embassy in the Turkish capital, Ankara, on Monday hitting a window in a security post but causing no casualties. 
 
It said police teams were searching for the assailants who fled in a white car after the attack, which occurred around 5 a.m.(0200GMT). 
 
The attack coincided with a deepening row between Ankara and Washington over the trial of a U.S. pastor in Turkey 
 
20 Aug 2018 03:19 Reuters news, China's premier Li says : 
 
- Chinese government willing to push bilateral ties forward with Malaysia and economic cooperation into new areas 
- in seeking expansion of trade we hope to see greater balance in trade 
- consensus and agreements reached on this trip show two countries will remain friendly in the long term 
- no winners in trade war 
 


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