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Intra-day Market Moving News
25 Jun 2018 10:06 USD/CNH - 6.5493 (offsshore)... Reuters news, China's Premier Li says : 
 
- trade dispute with U.S. can be resolved via talks 
 
25 Jun 2018 09:54 EUR/USD - 1.1647... Reuters news, German government spokesman says : 
 
- Merkel continues to seek European solution on immigration in talks with other EU leaders 
 
Reuters then reported German Chancellor Angela Merkel continues to seek a European solution on the migration issue in talks with other European leaders, her spokesman said on Monday, after discussions among some European Union states failed to produce an agreement. 
 
Merkel, facing a revolt by her Bavarian conservative allies that could break up her government, on Sunday said she would seek direct deals with separate EU states on migration, conceding the bloc had failed to find a joint solution to the issue threatening her government. 
 
25 Jun 2018 09:54 Reuters news, China's Premier Li says : 
 
- China, France agreed to deepen cooperation in nuclear energy 
- willing to promote trade cooperation with France 
- China willing to further open market 
- China willing to buy more French agriculture products 
 
25 Jun 2018 09:53 EUR/USD - 1.1647... Reuters reported four German citizens were detained in Turkey during Sunday's elections, a German foreign ministry spokeswoman said, with one of them subsequently released. 
 
"I can confirm that ... three German citizens were arrested," foreign ministry spokeswoman Maria Adebahr told a regular news conference. "I cannot confirm that these were election observers in the sense of being member of the OSCE mission," she added. 
 
The fourth German citizen, a businesswoman, had been released and was not banned from leaving the country, she added. 
 
25 Jun 2018 09:04 EUR/USD - 1.1660... Some news worth noting, media sources reported comments from ECB's Vasiliauskas, who says : 
 
- could think about further policy steps in autumn of 2019 
- expects upward movement of core inflation over the medium-term 
- does not see any need for continuing QE beyond December 
- optimistic about economic growth, but sees possibility of downside risks 
- trade conflicts could turn current balance of risks to negative side 
- QE has limits, but ECB has other tools including long-term loans 
 
 
 
25 Jun 2018 08:26 EUR/USD - 1.1670... Reuters reported Germany's economic boom times are over and Europe's largest economy is on the way to a more normal growth path, Ifo economist Klaus Wohlrabe told Reuters on Monday after its latest survey showed a deterioration in German business confidence. 
 
Wohlrabe said the spectre of a global trade war sparked by U.S. President Donald Trump and a slowing global economy contributed to the drop in the Ifo business climate index to 101.8 in June. 
 
He added that uncertainty among German companies was growing and export expectations had fallen further. The recent crisis in Chancellor Angela Merkel's ruling coalition over migration was not reflected in the June survey, Wohlrabe said. 
 
25 Jun 2018 08:25 EUR/USD - 1.1666... Reuters reported German business confidence deteriorated in June, a survey showed on Monday, suggesting the mood among company executives in Europe's biggest economy is darkening in light of the threat of a global trade war. 
 
The Munich-based Ifo economic institute said its business climate index fell to 101.8, falling slightly less than predicted in a Reuters consensus forecast of 101.7. 
 
"The tailwind enjoyed by the German economy is calming down," Ifo chief Clemens Fuest said. 
 
25 Jun 2018 05:39 NZD/USD - 0.6898.. Reuters news, New Zealand's acting PM Peters says does not think RBNZ will raise rates "Any time soon"
25 Jun 2018 02:52 EUR/USD - 1.1652.. The single ccy maintains a steady to firm undertone in relatively subdued Asian morning as the Japanese yen took centre stage on active safe-haven buying, intra-day selling in eur/yen also kept euro trading below Fri's 1.1675 high, suggesting range trading in in store ahead of release of German Ifo data at 08:00GMT where Jun readings are expected to come in weaker then previous month's data. 
 
However, as euro's rally fm last Thur's 11-month bottom at 1.1509 signals recent downtrend has made a temp. low, buying the pair on pullback is still favoured. Bids are noted at 1.1620-00 area with stops below there, offers are tipped at 1.1675/85 with stops abv 1.1700. 
 
25 Jun 2018 02:40 USD/JPY - 109.53.. Dlr opened lower below Fro's 109.80 low to 109.75 in NZ n quickly bounced back to 110.03. However, the pair tumbled at Tokyo open on WSJ report news report U.S. planned to limit Chinese investment in U.S. technology firms, the news led of broad-based safe-haven buying on renewed market jitters of U.S. protectionism, price penetrated 109.75 to 109.46 after tripping stops below last week's low at 109.55. 
 
Although price has stabilised ahead of Tokyo lunch break, the lack of intra-day short-covering rebound suggests sellers are 'in control', so selling dlr on recovery is the way to go n stops below daily sup at 109.20 are now in focus. Offers have been lowered to 109.75/85 n more abv with stops abv 110.00/05. 
 
U.S. will release a slew of second-teir data starting with building permits, Chicago Fed national activity index, new home sales n Dallas Fed mfg business index. BoJ member Sakurai will speak at an international forum in Italy at 12:15GMT. 
 
25 Jun 2018 01:02 USD/MAJORS - Dlr falls broadly vs G4 currencies on renewed market concern of U.S. protectionism. Reuters reported the U.S. Treasury Department is crafting rules that would block firms with at least 25 percent Chinese ownership from buying U.S. companies involved in "industrially significant technology," the Wall Street Journal reported on Sunday. 
 
Citing people familiar with the matter, the newspaper said the plans were not finalized and industry would have a chance to comment before they went into effect. It also said the U.S. National Security Council and Commerce Department were devising plans for "enhanced" export controls to keep such industrially significant technologies from being shipped to China. 
 
The White House, Treasury Department and Commerce Department did not immediately reply to requests for comment. 
 
25 Jun 2018 00:27 USD?MAJORS - Reuters news, quoting report fm the WSJ : 
 
- Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to Beijing, WSJ says citing people familiar with plans 
- U.S. Treasury crafting rules that would block firms with at least 25 percent Chinese ownership from buying companies involved in 'industrially significant technology' - WSJ 
- plans have not been finalized and the ceiling may end up lower than 25 percent, WSJ says citing people familiar with discussions 
 
25 Jun 2018 00:09 Continues from previous update... 
 
The biggest risk to the economy was a rise in protectionism, as trade spats between the United States and major trading partners continue, political turmoil in Italy and Britain's fraught divorce proceedings with the European Union. 
 
The trade risks mean the International Monetary Fund is likely to downgrade its euro zone growth forecasts when it releases its latest economic projections next month, according to the fund's managing director.  
 
Nevertheless, all 58 economists who answered an additional question said the risk the ECB will have to extend its quantitative easing programme (QE) into next year was "low", including over 60 percent who said "very low". 
 
25 Jun 2018 00:07 EUR/USD - 1.1658.. Reuters just reported the ECB will end its asset purchases by year-end as scheduled, according to a Reuters poll of economists who said the risk bond-buying will continue into next year was low, even with growth likely to slow and inflation stay tame. 
 
After outpacing major peers over the past two years, the euro zone economy has lost some momentum from last year's decade high and the latest poll of over 90 economists taken June 19-22 showed a slight cut to growth forecasts for this year. 
 
The currency bloc's economy is now forecast to expand at 2.2 percent this year, a slight downgrade from 2.3 percent in the same poll last month. Forecasts remained unchanged at 1.9 percent for 2019. 
 
25 Jun 2018 00:06 Continues from previous update... 
 
There was also a majority view that business leaders had not been properly consulted, or their views taken into account, by the EU negotiating team as it tries to hammer out a post-Brexit trade deal. 
 
Two thirds of respondents said they wanted a free-trade deal while 45 percent were in favour of a customs union, Baker & McKenzie said. 
 
The law firm surveyed executives in France, Germany, Sweden, Ireland, Spain and the Netherlands working at companies in a range of industries with annual sales of at least 250 million pounds ($330 million). 
 
Britons voted on June 23, 2016 to leave the EU. 
 


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