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Intra-day Market Moving News
2 Sep 2015 09:12 EUR/USD - 1.1278... Although euro ratcheted lower after meeting renewed selling at 1.3120 ahead of Asian open, renewed buying interest emerged at 1.1242 in European morning n lifted price to 1.1294 b4 retreating following the release of in-line with expectations euro zone producer prices. 
Eurostat on Wed showed producer price inflation in euro zone fell last month. The euro zone PPI fell to a seasonally adjusted -0.1%, fm -0.1% in the preceding month. Market had expected Euro zone PPI to fall -0.1% last month. 
2 Sep 2015 07:53 GBP/USD - 1.5308... Although the British pound found renewed buying at 1.5291 at Asian open n rebounded to 1.5320 in Asia, price resumed its recent losing streak n fell in tandem with euro to 1.5272 in European morning. However, cable swiftly pared its losses n recovered to 1.5313. 
Traders are now waiting for the release of UK construction PMI at 08:30GMT. Street forecast is for a slight increase to 57.5 fm prev. reading of 57.1. 
Offers have now been raised to 1.5320/30 n more abv at 1.5340/50 with stops building up abv there whilst initial bids are noted at 1.5250/60, suggesting further choppy trading with downside bias wud be seen in European session.
2 Sep 2015 03:35 EUR/USD - 1.1280... Despite y'day's sharp retreat to 1.1234 at NY open, the single currency pared its losses n staged a strg recovery to 1.1320 nr NY closing. However, renewed selling there pressured the pair lower n euro dropped sharply at Asian open, hitting a low at 1.1260 in Asian morning. Later, price rebounded to 1.1291 heading into Tokyo lunch session. 
EU will release its producer prices mm n yy at 09:00GMT. Street forecasts are -0.1% n -2.1% respectively. 
Bids are now seen at 1.1240/50 n more below at 1.1220/30 with stops building up below there whilst initial offers are noted at 1.1310/20, suggesting further choppy trading is envisaged heading into European open.
2 Sep 2015 03:34 USD/JPY - 120.25... News fm Reuters, BoJ's Nakaso says 'BoJ's purchases of JGBs for QE not impairing mkt functioning or ability to conduct future purchases; carefully monitoring QE imapct on JGB mkt liquidity.'
2 Sep 2015 02:50 USD/MAJ - News fm Reuters, IMF's Lagarde says 'recent mkt turmoil underlines spillover risks; all economies feeling impact rebalancing China, slowing Japan; economies facing pressure shud align rates to act as shock absorber.'
2 Sep 2015 02:47 USD/JPY - 120.00... Some news worth noting, President of the Boston Fed, Eric Rosengren, said a more modest policy tightening cycle than in the past is appropriate because of low inflation and threats to U.S. economic growth. He added 'there are very good reasons to expect a much more gradual normalization process than occurred in the previous two tightening cycles, he said of pending rate hikes, adding, this more modest tightening path is both necessary and appropriate.'
2 Sep 2015 02:30 USD/JPY - 120.24... The greenback continued to ratchet lower in NY session y'day n eventually hit an intra-day low at 119.23 near NY closing. Despite a brief but sharp rebound to 120.47 at Asian open on active short-covering, dlr met renewed selling n retreated again due partly to the fall in Nikkei-225 index. 
Mkt focus is now on the release of U.S. ADP employment data at 12:15GMT. Street forecast is for an increase to 201K fm prev. reading of 185K. An upbeat figure wud increase speculation of a possible rate hike in Sep n send the dlr higher. 
Offers are now seen at 120.20/30 n more abv at 120.50/60 with stops building up abv there whilst initial bids are noted at 119.30/40, suggesting selling on recovery is still favored.
2 Sep 2015 01:20 Breaking news fm Reuters, PBOC sets yuan mid-point at 6.3619/dollar vs last close 6.3465.
1 Sep 2015 17:25 EUR/CHF - 1.0860... Breaking news fm Reuters, SNB's chairman Thomas Jordan adds 'prepared to intervene in currency market if necessary, expects this and negative interest rates to weaken franc over time.'
1 Sep 2015 17:10 USD/MAJ - Breaking news fm Reuters, Fed's Rosengren says 'rate-hike cycle likely to be more gradual, reach lower level, than past cycles; little economic difference whether liftoff moved "forward or backward by a couple months"; more modest U.S. tightening cycle "necessary and appropriate"; low inflation gives fed latitude to gradually raise rates; slowing global growth, volatile markets call into question further U.S. labor tightening.'
1 Sep 2015 16:55 EUR/CHF - 1.0850... Breaking news fm Reuters, SNB's chairman Thomas Jordan says 'clear that Switzerland is in a difficult economic situation; Swiss franc is clearly overvalued; economy still faces risks; Swiss economy is in difficult situation as many firms must deal with strong Swiss franc; current negative inflation in Switzerland is not optimal; prepared to intervene in currency market if necessary, expects this and negative interest rates to weaken franc over time.'
1 Sep 2015 16:50 USD/JPY - 119.85... Although dlr came under renewed selling pressure at 121.27 ahead of Asian open on Tue n then fell to as low as 119.54 in European morning due to risk averse buying of yen on the back of decline in global stocks, short-covering lifted price to 120.27 at European midday n price then moved sideways in NY trading. 
On the data front, the Institute for Supply Management said its index of purchasing managers fell to the slowest rate in more than two years in Aug to 51.1 fm a reading of 52.7 in Jul. However, Commerce Department showed U.S. construction spending rose 0.7 percent to $1.08 trln in Jul which was the highest level in just over 7 years as private outlays surged. In a separate report, Markit said the final reading of its manufacturing index fell to 53 from 53.8 in Aug. 
At the moment, offers are reported at 120.00-10 n more abv at 120.25/30 with mixture of offers n stops in 120.50-70 region. On the downside, bids fm various accounts are noted at 119.60-50 n more around 119.30 with stops just below 119.20. 
1 Sep 2015 14:03 USD/CAD - 1.3200... Breaking news fm Reuters, Canada's PM Harper says 'economy is back on track, cites June GDP growth; country must stick to government's plan for balanced budgets, low taxes;  
Asked about Statscan data showing recession, Harper says 'over 80 pct of economy has been growing.'  
Canada's PM Harper then says 'strong growth is expected for the balance of the year in Canada; "we've had a couple of weak months".'
1 Sep 2015 12:45 USD/CAD - 1.1255... The pair fell sharply fm 1.3226 to 1.3118 in NY morning after data showed that Canada's economy grew more than expected in Jun n eased concerns over the country's economic outlook. 
Statistics Canada said GDP rose by a seasonally adjusted 0.5% in Jun, beating forecasts for growth of 0.2%. Canada's economy shrank 0.2% in May. On an annualized basis, Canada's GDP shrank at a rate of 0.5% in Jun, compared to expectations for a decline of 1.0% n following a contraction of 0.8% in the preceding month.
1 Sep 2015 09:59 EUR/USD - 1.1260... Although euro found buying interest at 1.1208 ahead of Asian open n then rallied to a high of 1.1332 in European morning, active cross-selling in euro vs pound n Japanese yen knocked price lower afterwards n the pair then fell to 1.1254, despite official data showing unemployment rate in euro zone at its lowest level in more than three years in Jul. 
In European morning, Eurostat said that the euro zone's unemployment rate declined to a seasonally adjusted 10.9% in Jul fm 11.1% in Jun. This is the lowest rate recorded in the euro area since Feb 2012. Market had expected the jobless rate to hold steady in July. 
At present, offers are now seen at 1.1270-80 n more abv at 1.1300/05 with stops building up abv there whilst on the downside, initial bids fm various accounts are noted in 1.1240-20 region. 

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