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Intra-day Market Moving News
11 Feb 2016 15:46 USD/MAJ - News fm Reuters, Fed's Yellen says 'stronger dlr was anticipated; degree of dlr appreciation not anticiapted; evidence suggests expansions don't die of old age; recognize that international factors may well influece balance of risks; its premature to make judgement on international factors; sees some evidence of faster wage growth; still expects further pick up in wage growth.'
11 Feb 2016 14:35 EUR/USD - 1.1348... News fm Reuters, French FinMin Sapin says 'prospect of Brexit must not keep eurozone fm pressing ahead with integration; financial mkt volatility not justified, does not reflect economic realities.'
11 Feb 2016 14:24 USD/MAJ - Fed's Yellen's prepared remarks for U.S. senate hearing identical to those delivered on Wed at House of Representatives.
11 Feb 2016 14:06 EUR/USD - 1.1326... News fm Reuters, German FinMin Schaeuble says 'it wud be very dangerous for Portugal to leave the reform path it has taken.'
11 Feb 2016 12:08 GBP/USD - 1.4415... News fm Reuters, BoE's Cunliffe says 'current EU bank resolution agreements not yet in position to deal with failure of major cross-border bank.'
11 Feb 2016 08:46 EUR/USD - 1.1330.. Euro jumped to a fresh 3-1/2 month peak of 1.1355 after ECB Nowotny's brief remark on Brexit'. 
 
Reuters later reported Euro area inflation could dip into negative territory in the first half of 2016 but the threat of entrenched deflation has been averted and prices will rise in the second half, European Central Bank Governing Council member Ewald Nowotny said on Thursday. 
 
"I think it's important to look at the medium term. In the second half, we could already see a clear increase in inflation because of the base effect from the previous year," said Nowotny, who is also the head of the Austrian central bank. 
 
"I wouldn't speak of a deflationary risk, per se. It could be the case in certain months but that is not deflation. I think it was the success of the previous policy of the ECB that we prevented a deflationary scenario in Europe," he added. 
 
11 Feb 2016 08:09 EUR/USD - 1.1303.. Breaking news on Reuters, ECB Governing Council member Ewald Nowotny says Brexit would be linked to loss of privileges for City of London. 
 
He then says : 
 
- see no reaon to introduce limt for cash payments 
- inflation could become negative in some months of H1, could increase in H2 
- ECB was successful at averting deflation in EZ
11 Feb 2016 04:24 GBP/USD - Continues from previous update... 
 
And while Cameron has insisted he has not sought a veto over the euro zone's affairs, Paris also argues that the current wording of a new British right to delay euro zone decisions which it fears could hurt its interests must be amended to place tighter limits on how long London could hold up the process. 
 
Diplomats said the aim was to settle as much of the reform plan as possible, leaving only certain elements to the summit. 
 
"Everyone is fed up with this," one said. "We need to get this out of the way to be able to deal with other problems. So the common approach is not to hinder this process, help Britain solve its own internal problems and safeguard this compromise." 
 
11 Feb 2016 04:23 GBP/USD - Continues from previous update... 
 
The first meeting of "sherpas", on Friday following Tusk's circulation of his reform proposals, saw participants broadly welcome a first draft as a way to help Cameron win a referendum in the coming months to prolong Britain's 43-year membership. 
 
But on Wednesday, France, the traditional pro-European sparring partner of eurosceptic Britain, demanded significant changes, particularly to Cameron's effort to secure protections for the sterling-based City of London from possible EU measures favouring the majority of states which uses the euro. 
 
And while Cameron has insisted he has not sought a veto over the euro zone's affairs, Paris also argues that the current wording of a new British right to delay euro zone decisions which it fears could hurt its interests must be amended to place tighter limits on how long London could hold up the process. 
 
And while Cameron has insisted he has not sought a veto over the euro zone's affairs, Paris also argues that the current wording of a new British right to delay euro zone decisions which it fears could hurt its interests must be amended to place tighter limits on how long London could hold up the process. 
 
11 Feb 2016 04:18 GBP/USD - 1.4534.. Another piece of news which came out ahead of NY close may weigh on sterling. Reuters reported a draft accord to help keep Britain in the European Union is "very fragile", a top EU official warned on Wednesday as France and eastern states pushed for changes before leaders meet to try and seal the deal next week. 
 
European Council President Donald Tusk, who agreed reform proposals last week with British Prime Minister David Cameron, said they were "balanced and solid" and he hoped to finalise them when he chairs a Brussels summit next Thursday and Friday. 
 
"However, let me be clear -- this is a very fragile political process," he added, announcing that he had cleared his diary and would travel to Paris, Berlin and eastern Europe early next week "to secure broad political support for my proposal". 
 
Tusk spoke on the eve of a second round of talks among the 28 EU leaders' top aides and envoys in Brussels. Officials said they will discuss a new draft with small, technical tweaks. 
 
11 Feb 2016 03:29 GBP/USD - 1.4533.. One of 2 piece of news on Britain/EU talk worth noting. Reuters reported y'day talks between Britain and other European Union governments on a deal to keep London in the 28-nation bloc are fragile, the chairman of bloc's leaders said, but added he was confident a deal would be found at an EU summit next week. 
 
"Talks on #UKinEU settlement a fragile political process. I cancelled all my obligations to meet EU leaders & European Parliament to secure broad support," Donald Tusk, who is charged with brokering a compromise, tweeted on Wednesday. 
 
He also told a news conference he still hoped to finalise the deal when EU leaders meet in Brussels on Feb.18-19. 
 
11 Feb 2016 03:20 EUR/USD - 1.1283.. Euro pares intra-day marginal gain in Asia after rising briefly abv y'day's NY 1.1299 high to 1.1320 as renewed broad-based yen's strength triggered another fresh round of usd bashing, however, lack of follow-through buying quickly knocked price lower to 1.1280 in Asian lunch session. 
 
Euro's intra-day retreat suggests choppy trading below Tue's 1.1338 high would continue as offers at 1.1320/30 have capped upside n market may test downside in early Euroepan morning. Some bids are noted at 1.1280-70 with some stops below there, more buying interest is touted at 1.1240-30. No EZ eco. data are due out, so technical trading may influence intra-day market swings. 
 
11 Feb 2016 03:05 USD/JPY - 112.96.. Once again, the Japanese yen took centre stage in Asian session on Thur following y'day's resumption of dlr's downtrend vs yen to a fresh 15-month bottom of 113.12. Despite a brief short-covering rebound to 113.60 in Australia, a wave of fresh selling emerged shortly after Asian open despite closure of Japanese financial markets, the pair tanked to as low as 112.54 after tripping stops below 113.00 in thin market condition, however, price has staged a modest bounce back to 113.03/04 on lack of follow-through selling. 
 
Looks like the intra-day low print would remain on the screen as price consolidate in European morning. Once again, if European stocks do not fall sharply, then one can expect a much-needed recovery to 113.50/60 b4 recent downtrend resumes. Offers are tipped at 113.00/10 with some stops abv there, however, more offers are reported at 113.50/60. Some bids are noted at 112.70-112.50 with some stops below there. 
 
Later today, U.S. will release weekly jobless claims n Fed Yellen will testify b4 Senate Banking Committee on Capital Hill at 15:00GMT. 
 
10 Feb 2016 17:56 USD/MAJ - News fm Reuters, Fed's Yellen adds 'signs of increasing wage growth are tentative; I expect inflation will move up over time with appropriate policy; fall in oil prices is $1,000 a year in savings for average American household; expects GDP growth to pick up this quarter; financial conditions have tightened considerably, that cud affect outlook; spreads on low graded bonds have widened considerably; spreads on bonds not widening for just energy.'
10 Feb 2016 16:33 USD/MAJ - News fm Reuters, Fed's Yellen continues 'we are going to wait to shrink balance sheet until short term rates somewhat higher.'


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