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Intra-day Market Moving News
17 Apr 2015 17:40 USD/MAJ - News fm Reuters, the Group of 20 leading economies on Friday said risks to the global economy had diminished with improved growth prospects in rich nations, but it warned of challenges from exchange rate volatility and geopolitical tensions to low inflation. 
 
"Risks to the global economy are more balanced since we last met," G20 finance ministers and central bankers said in a communique after a two-day meeting. "Near-term prospects in advanced economies, notably the euro area and Japan, have improved recently, while the U.S. and UK continue to record solid growth, which could support a stronger global recovery." 
 
"Nonetheless, there are important challenges, including volatility in exchange rates and prolonged low inflation, sustained internal and external imbalances, high public debt, and geopolitical tensions," the communique said.
17 Apr 2015 17:00 EUR/USD - 1.0780 ... News fm Reuters, eurozone lenders could deliver on their 2012 promise to help ease Greece's debt burden only once Athens implements reforms agreed under its international bailout, the chairman of euro zone finance ministers Jeroen Dijsselbloem said. 
 
While there is no willingness to forgive Greece any of the loans euro zone governments extended to the country under its 240 billion euro bailout, the euro zone could consider lengthening maturities and cutting interest on the loans. 
 
But for this to happen, Athens must first implement reforms agreed under the bailout, including a pension reform because the current pension system in Greece was not sustainable, Dijsselbloem said. 
 
"If necessary, more can be done (on debt)," Dijsselbloem told a seminar at the Peterson Institute in Washington. 
 
"I will stick to my part of the deal," he said, recalling the November 2012 commitment of euro zone finance ministers to help Greece if it kept its side of the bargain by implementing reforms.
17 Apr 2015 16:38 EUR/USD - 1.0780 ... Breaking news fm Reuters, Greek finance minister Varoufakis said after meeting with ECB's Draghi that Draghi confirmed ECB wants solution soon on Greece.
17 Apr 2015 16:16 News fm Reuter, Greece denies report that it needs to tap all remaining cash reserves to pay pensions and wages.
17 Apr 2015 13:35 EUR/USD - 1.0763... News fm Reuters, European official says 'negotiations with Greece must take on more momentum to conclude review in timely way.'
17 Apr 2015 12:18 GBP/USD - 1.5030... News fm Reuters, UK FinMin Osborne says 'mood at IMF meeting is notably more gloomy than at last international gathering; Greece is most worrying aspect for global economy; misstep on either side of Greek issue cud return European economies to perilous state of 3-4 years ago; wud be mistake to think UK wud be immune fm European problems fm any Greek fallout; now is not the time for any confusion about British economic policies or possible change in direction.'
17 Apr 2015 10:53 USD/MAJ - News fm Reuters, G20 draft communique states 'G20 welcomes strengthening in some key economies but cites challenges, including fx volatility n low inflation with negative interest rates; will execute fiscal policies flexibly to support growth; many advanced economies still need easy monetary policies; will monitor financial mkt volatility n take necessary actions.'
17 Apr 2015 10:41 News fm Reuters, China's Premier Li says 'to deepen interest rate reform; will expand use of FX reserves to help companies invest overseas.'
17 Apr 2015 10:19 EUR/USD - 1.0840... News fm Reuters, European Commission says 'expert group on Greece meeting this weekend.'
17 Apr 2015 09:34 EUR/USD - 1.0809.. Euro continues its elusive winning streak which began on Tue, price briefly climbed abv y'day's 1.0818 high to 1.0833 after EZ inflation ticked higher. Reuters reported consumer prices in the euro zone rose for the 2nd straight month in Mar, not enough to pull annual inflation out of negative territory but another positive sign as the currency bloc looks to escape prolonged deflation. 
 
Annual inflation in the 19 countries sharing the euro was -0.1% in Mar, the EU's statistics office Eurostat said on Fri, as was forecast by an earlier reading at the start of the month n as expected by economists polled by Reuters. 
 
In data likely to be welcomed by the ECB, which has launched a U.S-style bond-buying programme to stop deflation setting in, consumer prices rose 1.1% in Mar fm Feb, after a string of negative monthly readings.  
 
While the monthly rise in core inflation, which strips out volatile food n energy prices, was slightly short of expectations at 1.2%, the trend appears to be shifting. 
 
The euro zone is far fm the deflation that Japan suffered fm the early 1990s, when falling prices weakened demand, leading to wage cuts n even lower prices, but the bloc's low inflation rate has shown its fragility since its long crisis.
17 Apr 2015 09:16 GBP/USD - 1.5019.. Cable jumped to a 4-week high of 1.5036 in active European trading after upbeat U.K. jobs data. Reuters reported the number of people in work in Britain jumped by its biggest amount in almost a year in the 3 months to Feb n the unemployment rate fell to its lowest in nearly 7 years. 
 
The last official data on employment n earnings before a national election on May 7 also showed the pace of growth in workers' pay generally slowed in the 3 months to Feb. 
 
The ONS said Britain's unemployment rate fell to 5.6%, its lowest level since Jul 2008 n down fm 7.9% at the time of the last election. Total average weekly earnings in the 3 months to Feb, including bonuses, rose 1.7% compared with the same period a year earlier, slowing from 1.9% in Jan. 
 
The Office for National Statistics said the number of people in employment rose by 248,000 - the biggest increase in a 3-month period since Apr 2014 - to a record 31.049 mln. It said the employment rate of 73.4% showed an unusually big jump to hit a new all-time high. 
 
The Bank of England is also keeping a close eye on wages as it considers when to start raising interest rates from their record low of 0.5%. The BoE predicts wage growth will speed up sharply to reach 3.5% by the end of this year. The ONS said pay, including bonuses, rose 1.3% on the year in Feb alone, compared with 1.4% in Jan. Excluding bonuses, pay rose 2.2% in Feb, the biggest increase since May 2011. 
17 Apr 2015 08:53 GBP/USD - 1.5008... Although cable moved closely with euro in Asia n briefly fell to 1.4916 shortly after European open, renewed buying lifted price abv y'day's high of 1.4970 to 1.4982. The British pound ratcheted higher after release of encouraging U.K. jobs reported n rose abv 1.5000 to 1.5010.  
 
At the moment, bids are noted at 1.4970-60 n then 1.4940-30 with stops emerging below 1.4920. On the upside, offers fm profit-taking are placed at 1.5040-50 n more around 1.5070.
17 Apr 2015 07:43 EUR/USD - 1.0790... The single currency went trough a 'mini' roller-coaster session in European morning. Although euro rose marginally abv Asian high of 1.0787 to 1.0791 n then tanked to a fresh session low at 1.0738 on news fm Kathimerini newspaper saying that overseas bank subsidiaries have been told to exit Greek debt exposure, renewed cross-buying in euro lifted price abv 1.0800 lvl to 1.0804. 
 
At present, stops located just abv y'day's high of 1.0818 are in focus, however, offers fm various accounts are placed at 1.0830-40 n around 1.0850. On the downside, bids are noted at 1.0770-60 n then 1.0740-30 with mixture of bids n stops at 1.0720-10.
17 Apr 2015 07:37 News fm Reuters, China's Premier Li says 'urges banks to increase support for the real economy.'
17 Apr 2015 05:02 USD/JPY - 118.98... News fm Reuters, Japan seasonally adjusted Mar consumer confidence index 41.7 (Feb 40.7). Japan's govt raises assessment of consumer confidence, saying it is picking up.


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