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Intra-day Market Moving News
29 Apr 2017 02:22 Reuters reported earlier North Korea test-fired a ballistic missile on Saturday, South Korea's and U.S. militaries said, defying intense pressure from the United States and the reclusive state's main ally, China. 
 
U.S. and South Korean officials said the test, from an area north of the North Korean capital, Pyongyang, appeared to have failed, in what would be a fourth successive unsuccessful missile test since March. 
 
U.S. officials, speaking on condition of anonymity, said the missile was probably a medium-range weapon known as a KN-17 and appears to have broken up within minutes of taking off. 
 
South Korea's military said the missile, fired from the Pukchang region in a northeasterly direction, reached an altitude of 71 km (44 miles) before disintegrating a few minutes into flight. 
 
28 Apr 2017 16:02 EUR/USD - 1.0892... News fm Reuters, IFOP/Fiducial poll states: 
 
-centrist candidate Macron seen beating far-right candidate Le Pen in run-off vote by 60.0% to 40.0%
28 Apr 2017 14:41 USD/MAJ - News fm Reuters, US House begins vote to extend deadline until May 5 for passing a spending bill to avert gov't shutdown.
28 Apr 2017 14:36 USD/JPY - 111.42... News fm Reuters, Japan's Abe says: 
 
-UK is in midst of major change as it moves twds Brexit 
-Japan supports a strg UK n a strg Europe 
-wants Brexit to take place smoothly 
-values the fact that UK is moving twds a transition period in Brexit n is being transparent over it 
-Japan n UK are leaders in promoting free trade 
-has confidence in UK economy after Brexit
28 Apr 2017 14:28 GBP/USD - 1.2914... News fm Reuters, UK PM May says: 
 
-agreed with Japan's Abe that we need to stand firm in face of Russia's destabilising activity 
-have highlighted our opposition to any activity on the south n east China sea that is likely to increase tension 
-we stand steadfast in our condemnation of such destabilising activity
28 Apr 2017 12:33 USD/MAJ - Reuters reported gross domestic product (GDP) in the U.S. showed a smaller-than-expected expansion in the first quarter, dampening optimism over the state of the world's largest economy, according to official preliminary data released on Friday. 
 
In a report, the Bureau of Economic Analysis said that GDP registered a seasonally adjusted annual rate of 0.7% growth in the three month period from January to March, down from the 2.1% expansion registered in the fourth quarter of 2016. 
Analysts had expected GDP growth to ease to just 1.2%.
28 Apr 2017 11:27 USD/CHF - 0.9906.. More on early comments by SNB's Jordon. Reuters just reported The Swiss National Bank has all the tools it needs to conduct policy, Chairman Thomas Jordan said on Friday, dismissing a campaign that would make the SNB alone responsible for creating the country's money. 
 
"We are convinced we have all the instruments we need to implement our monetary policy. We don't need the sovereign money initiative. What we have functions quite well. We don't want to experiment where we don't know what the final outcome would be," he told the SNB's annual shareholder meeting in response to a question. 
 
A Swiss group pushing the initiative has collected enough signatures necessary to put the matter to a popular vote. The group says the current fractional reserve system - where banks "create" money each time they issue loans - is unstable because it is secured by reserves representing just a fraction of the currency actually created by the SNB. 
 
28 Apr 2017 11:01 GBP/SD - 1.2944.. Reuters then reported the British government fears a different deal with the EUfor Scotland could disrupt trading between the United Kingdom's four nations, a letter from Brexit minister David Davis published by the Scottish government said on Friday. 
 
Scotland, which voted to stay in the EU at a June referendum, proposed a separate trade carve-out for itself in the Brexit talks and its first minister Nicola Sturgeon says the UK government has not taken the proposal seriously.  
 
28 Apr 2017 11:01 Continues from previous update.... 
 
"There are clear barriers to making your proposals a reality. Scotland's accession to the (European Free Trade Association) and then the (European Economic Area), would not be deliverable and, importantly, would require the consent of all EFTA and EU member states," Davis said in a photocopy of the letter dated March 29 and published on the devolved Scottish government's website. 
 
"Any divergence between EU and UK law - as a result, perhaps, of new EU regulation - could lead to the creation of new barriers to trade within our Union," Davis wrote, adding that this could create potential "significant disruption to the internal UK market." 
 
28 Apr 2017 10:38 GBP/USD - 1.2946.. Reuters news, letter from UK govt to Scottish government writes : 
 
- UK govt says Scotland's proposals for differentiated Brexit deal would create new barriers to trade within UK 
 
Letter from Brexit minister Davis to Scottish govt : 
 
- UK govt says differentiated Scottish Brexit deal could create "significant disruption" to UK internal market 
 
28 Apr 2017 10:19 GBP/USD - 1.2941... The British pound traded with a firm bias n gained to 1.2915 in Asia b4 retreating to 1.2891 at European open, however, cable found renewed buying there n rallied to a fresh 6-month peak at 1.2957 in European morning due partly to the rally in euro. 
 
Bids are now seen at 1.2910/20 n more below at 1.2890/00 with stops building up below there whilst initial offers are noted at 1.2990/00, suggesting buying on dips for a resumption of recent uptrend is favored.
28 Apr 2017 09:38 EUR/USD - 1.0934... News fm Reuters, German gov't spokesman says: 
 
-German Chancellor Merkel to meet Russian President Putin for talks in Sochi on Tue
28 Apr 2017 09:15 Continues from previous update.... 
 
The ECB on Thursday stuck to its ultra-easy policy stance, but explicitly acknowledged the vigour of the euro zone economy, now on its best run since the global financial crisis. 
 
Overall inflation was higher primarily because of a 7.5 percent rise in energy prices and of 2.2 percent for unprocessed food. 
 
Prices for food, alcohol and tobacco went up by 1.5 percent in April, actually lower than the 1.8 percent figure for March. 
 
In the services sector, the largest in the euro zone economy, prices rose by 1.8 percent in April, compared with 1.0 percent in March. 
Eurostat's flash estimate for the month does not include a monthly calculation. 
 
28 Apr 2017 09:14 Continues from previous update.... 
 
The ECB has a medium-term target for inflation at close to but just below 2 percent. 
 
Core inflation, which excludes volatile prices of energy and unprocessed food and which the European Central Bank monitors closely, also rose to 1.2 percent year-on-year in April from 0.8 percent in March, above market expectations of 1.0 percent. 
 
The core level was at its highest level since September 2013. The estimated figures for April could increase pressure on the ECB to wind down its monetary stimulus. The central bank has slashed interest rates into negative territory and adopted a bond-buying programme worth 2.3 trillion euros ($2.5 trillion) to counter the threat of deflation and revive growth in the 19-member currency bloc. 
 
28 Apr 2017 09:13 EUR/USD - 1.0935.. Euro jumped in European trading after higher-than-expected EZ inflation. Reuters reported euro zone inflation rose by more than expected to the European Central Bank's target and core inflation increased to its highest level in more than three years, according to the first estimates from the EU's statistics agency. 
 
Inflation in the 19 countries sharing the euro was 1.9 percent year-on-year, Eurostat estimated, up from 1.5 percent in March and just short of the four-year high of 2.0 percent recorded in February. 
 
Economists polled by Reuters had forecast April annualised inflation at 1.8 percent, but estimates released on Thursday showing sharper-than-expected price hikes in Germany had prepared markets for a potential stronger figure for the bloc.  
 


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