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Intra-day Market Moving News
23 Apr 2014 10:22 EUR/USD - 1.3837... News fm Reuters, EU Commission says 'Eurozone Ministers to discuss debt relief for Greece in second half of 2014.'
23 Apr 2014 10:07 GBP/USD - 1.6795... UK CBI Apr manufacturing order book balance -1, the lowest since Oct. However, UK CBI quarterly industrial trends survey shows strongest new orders balance since Apr 1995, highest business optimism since Apr 1973. 
 
The British pound extended intra-day losses after the data n penetrated 1.6800 to 1.6787. 
 
Offers fm st specs are noted at 1.6810-20 n then 1.6825/30 with stops located just abv last Thur's 4-1/2 year peak at 1.6842. On the downside, bids fm various accounts are placed at 1.6780-70 n then 1.6760-50 with stops emerging below 1.6830.
23 Apr 2014 09:57 EUR/USD - 1.3843... ECB's Hansson continues 'QE wud be operationally complex for the ECB, sees a lot of questions around how to do it.'
23 Apr 2014 09:16 USD/JPY - 102.49... News fm Reuters, Japan EconMin Akira Amari says 'briefed PM Abe on trade talks with U.S.'
23 Apr 2014 09:10 EUR/USD - 1.3842... News fm Reuters, ECB Governing Council member Ardo Hansson (Governor of Estonia central bank) says 'have to keep an eye on euro FX rate.'
23 Apr 2014 08:31 GBP/USD - 1.6812... News fm Reuters, BoE minutes states 'voted 9-0 keep QE total at 375 bln stg in April; voted 9-0 keep interest rates at 0.5%; show MPC members "had a range opionions" on slack in U.K. economy and medium term inflation outlook; domestic recovery building momentum, some signs of modest rebalancing towards investment; some scope for further improvement in credit conditions, but likely credit spreads will remain high relative to pre-crisis levels for some time; possible a sustainable rise in real wages and incomes, consistent with durable recovery, is in prospect; MPC members "held a range of views" about the extent to self employment represents a from of labour market slack.'
23 Apr 2014 08:00 EUR/USD - 1.3824... Eurozone Apr manufacturing PMI came in at 53.3, better than the forecast of 53.0. Apr Service PMI came in at 54.0, stronger than the forecast of 52.5.
23 Apr 2014 07:32 EUR/USD - 1.3815... The single currency found renewed buying at 1.3799 in Asian morning n strengthened to 1.3819 n rose briefly to 1.3837 at European open, however, the release of weaker-than-expected French manf. PMI pressured the pair lower n price retreated to 1.3799 again. Euro found support there after the release of upbeat German manf. PMI n price rebounded to 1.3820. 
 
Offers are now seen at 1.3830/40 n more abv at 1.3850/60 with stops building up abv there whilst initial bids are noted at 1.3785/90.
23 Apr 2014 07:30 EUR/USD - 1.3811... German Apr Manufacturing PMI came in at 54.2, better than the forecast of 53.8. Service PMI came in at 55.0, stronger than the foreacst of 53.3.
23 Apr 2014 07:08 USD/JPY - 102.54... News fm Bloomberg, BoJ says ' FX, market volatility generally low; finiancial inst.'s core profitability still on downtrend; ratio of risky asset at households has risen; finance conditions at firms, households more accomodative; funding conitions improved for all firms inluding small firms; pace of loan growth at major banks slowed somewhat; 1 PPT rise in yields would lead to 7.5 yen capital loss; estimate of loss assumes parallel shift in yield curse; diminishing trend in loan rate spreads hasn't halted yet.'
23 Apr 2014 07:01 EUR/USD - 1.3814... French Apr manufacturing PMI came in at 50.9, worse than the forecast of 51.9 French Apr Service PMI fell to 50.3 from previous reading of 51.5, weaker than the forecast of 51.3.
23 Apr 2014 04:11 USD/JPY - 102.54... News fm Bloomberg, BoJ's Kuroda says 'BoJ's QE as strong effect to push down yield; BoJ's QE purchase of JGB's not deficit financing; buying JGBs with aim of reaching 2% soonest; BoJ's JGB buys total different to direct underwrite; BoJ's JGB holding about 20% of total by end 2014.'
23 Apr 2014 03:22 USD/JPY - 102.53 ... Breaking news fm Reuters, Japan PM Abe says TPP talks are moving towards Japan keeping some tariffs.
23 Apr 2014 02:40 GBP/USD - 1.6835.. The pound follows eur/usd n edges higher in Asian morning as intra-day rebound in the euro prompted renewed buying at 1.6820, suggesting price is en route to re-test last Thur's 4-1/2 year peak at 1.6842. Although there were earlier reports on Tue of offers below said res lvl n triggered long liquidation which briefly sent price lower to 1.6813 in NY, a fresh wave of buying emerged n lifted the pound. 
 
Looks like market is eager to test cable's upside ahead of release of the important BoE's MPC minutes at 08:30GMT, then the influential U.K. business lobby CBI will release the Industrial Trends Survey at 10:00GMT which shows order book of major U.K. manufacturers, street forecast is looking for the index to come in at 7 vs previous reading of 6. Bids have been raised to 1.6820-10 with stops below there whilst offers are reported at 1.6840/45 with stops (size unknown) abv there, suggesting trading fm long side is favoured after y'day's intra-day jump fm 1.6785 to 1.6839 due to spec buying on prospect of a mega M&A deal (refer to Tue's MMN for details).
23 Apr 2014 02:09 EUR/USD - 1.3814 ... The single currency rebounded on short-covering in Asian morning, following yesterday's release of U.S. better-than-expected existing home sales which decreased by 0.2% to 4.59 millions versus economists' forecast of a drop of 1.1% to 4.55 millions. Offers are now tipped at 1.3820-25 with stops seen abv 1.3835. On the downside, bids are located at 1.3790 with stops building up below 1.3785. 
 
On the data front, France, Germany and eurozone will release their manufacturing and services PMI at 07:00GMT, 07:30GMT n 08:00GMT respectively.


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