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  1. #11
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    Smile AceTraderFx Feb 12: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    12 Feb 2015
    01:03GMT

    EUR/USD - .....EU sources said some ministers were surprised that the informal tone extended to not bringing a written document outlining proposals. Varoufakis simply made oral statements.

    Economists polled by Reuters this week estimated a one-in-four chance of Greece leaving the 19-nation single currency area this year - the highest reading since the start of the Greek debt crisis in late 2009.

    EU leaders will take up the issue at their first summit with Tsipras on Thursday EU officials said they would be briefed on the ministerial talks but there would be no room for debt negotiation at a summit mostly devoted to the Ukraine-Russia conflict, fighting terrorism and longer-term reform of the euro zone's governance.

    Varoufakis has proposed a 6-month transition in which Greece would be allowed to issue more short-term debt, receive the proceeds of ECB holdings of Greek bonds and tap unused bank rescue funds while renegotiating its debt. Athens would swap its euro zone loans for GDP-linked bonds and its ECB-held debt for interest-bearing perpetual bonds with no reimbursement date.

    EU officials have said the most Greece can expect is a further extension of the repayment deadline for its euro zone loans, a lower interest rate and perhaps a prolonged moratorium on debt service payments, in return for continued reforms under some form of external supervision.

    On Wednesday's 1st official talk between EU FinMins & Greece's FinMIn. Reuters reported Greece's new leftist gov't n its international creditors failed to agree on a way forward on the country's unpopular bailout and will try again next Monday, with time running out for a financing deal.
    In 7 hours of crisis talks in Brussels that ended after midnight, EZ FinMins were unable to agree even a joint statement on the next procedural steps. Both sides played down the setback, insisting there had been no rupture.

    In Athens, a Greek official said Varoufakis had discussed with IMF MD Christine Lagarde and Dijsselbloem some form of "bridge agreement" for funding the state once the current bailout deal expires.

    Thursday will see the release of Japan's Corp Goods Price, Machinery Orders, Australia's Employment, Unemployment, Germany's CPI, HICP, euro zone's Industrial Production, U.K.'s RICS Housing Survey, BoE quarterly inflation report, Canada's New Housing Price Index, U.S.'s Retail sales, Jobless Claims and Business Inventories.

  2. #12
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    Smile AceTraderFx Feb 17: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    17 Feb 2015
    00:39GMT

    EUR/USD - ..... Euro tumbled in thin North American afternoon session when news of a breakdown in the debt deal between Eurogroup & Greece. Reuters reported Greek FinMin Yanis Varoufakis said on Monday that he had been prepared to agree to a deal with creditors that would have given Athens 4 to 6 months additional credit in return for putting major new budget policies on hold.

    He said the European Commission had put such a suggestion to him before Mon's meeting of EZ FinMins but that it had been superseded by a different draft proposal - fm Eurogroup President Jeroen Dijsselbloem - that he could not sign because it obliged Athens to extend its current bailout package. Dijsselbloem's proposal was "highly problematic," he said.

    A Commission official said EU Economic Affairs Commissioner Pierre Moscovici had "contributed ideas" in discussions with Varoufakis but that only the Eurogroup proposal was the object of negotiations.

    Varoufakis said he remained ready to sign a proposal based on Moscovici's ideas. "I was prepared to sign it this morning, this afternoon, I would sign it at midnight, tomorrow at 9 in the morning.
    I would even consider signing some (other) version of it because the point here is not to allow an impasse."

    He said he was optimistic a deal would be struck within the next 48 hours. "Europe will do the usual trick. It will pull a good agreement, an honorable agreement, out of what seems to be an impasse," he said.

    Data to be released on Tuesday:

    Australia's RBA Meeting Minutes, China's House Prices, Italy's Trade Balance, U.K.'s CPI, PPI, RPI, Germany's Zew reports, U.S.'s Redbook, NAHB Housing Markets, Net L-T Flows, Overall Capital Flows.

  3. #13
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    Smile AceTraderFx Feb 20: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    20 Feb 2015
    06:36GMT

    EUR/USD - ..... More about previous news on Greek bailout extension. Reuters reported Greece has made every effort to reach a mutually beneficial agreement with its euro zone partners but will not be pushed to implement its old bailout programe, its gov't spokesman said on Friday.
    "The Greek gov't has done all it should at every level in an effort to find a mutually beneficial solution," gov't spokesman Gabriel Sakellaridis told Mega TV.

    On Thursday, Germany rejected a Greek proposal for a 6-month extension to its euro zone loan agreement, saying it was "not a substantial solution" because it did not commit Athens to stick to the conditions of its international bailout.
    "We are not discussing the continuation of the (bailout) programme," Sakellaridis said. "The Greek government will maintain this stance today, although conditions have matured for a solution to be found at last."

    As Greece has done all its should to find mutually beneficial solution with euro zone partners, Greece is not discussing continuing bailout programme and will maintain this position at Eurogroup - gov't spokesman.

    Data to be released on Friday:

    China market holiday, Japan manufacturing PMI, leading economic index, Germany PPI, services PMI, manufacturing PMI, France services PMI, manufacturing PMI, Italy industrial sales, industrial orders, CPI, EU services PMI, manufacturing PMI, UK retail sales, PSNB, PSNCR, Canada retail sales and U.S. manufacturing PMI.

  4. #14
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    Smile AceTraderFx Mar 2: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    02 Mar 2015
    00:16GMT

    EUR/USD - ..... Euro opened lower in NZ on Monday to 1.1167, then 1.1160 ahead of Asian open.
    Reuters reported Greece's leftist PM Alexis Tsipras accused Spain n Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity goverment, saying they feared their own radical forces before elections this year.

    In a speech to his Syriza party, Tsipras accused them of taking a hard line in negotiations which led to the euro zone extending the bailout programme last week for 4 months.

    "We found opposing us an axis of powers ... led by the governments of Spain n Portugal which for obvious political reasons attempted to lead the entire negotiations to the brink," said Tsipras, who won an election on January 25.

    "Their plan was and is to wear down, topple or bring our goverment to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries," he said, adding: "And mainly before the elections in Spain."
    Tsipras has portrayed the Eurogroup deal as a victory for Greece, even though it meant extending the bailout programme he had promised voters to scrap. He noted German lawmakers from Chancellor Angela Merkel's conservatives had attacked the Greek leadership when they approved the extension on Fri.

    "We have all watched the strong opposition within Angela Merkel's party which shows that unacceptable concessions have been made to Greece," he said.
    So far he has public backing. A poll conducted by the University of Macedonia for SKAI TV showed 56 percent of Greeks believed the extension had been a success, compared with 24 percent who said it represented a failure.

    Ireland's FinMin has said Athens must negotiate a 3rd bailout when the extension expires in Jun - something Tsipras denied on Friday.

    FinMin Yanis Varoufakis called into question a major debt repayment Greece must make to the ECB this summer, after acknowledging Athens faces problems in meeting its obligations to international creditors.

    Data to be released this week:

    New Zealand imports, exports, trade balance, Australia new home sales, business inventories, Japan manufacturing PMI, China HSBC manufacturing PMI, Swiss manufacturing PMI, Italy manufacturing PMI, unemployment rate, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, unemployment rate, UK manufacturing PMI, mortgage approvals, Canada current account, U.S. PCE, personal income, personal consumption, ISM manufacturing PMI and construction spending on Monday.

    Australia building approvals, RBA rate decision, Swiss GDP, Germany retail sales, UK construction PMI, EU producer prices, Canada GDP, producer prices, U.S. redbook retail sales and ISM New York index on Tuesday.

    Australia GDP, China HSBC services PMI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, retail sales, UK services PMI, Canada BoC rate decision, U.S. ADP employment and Fed beige book on Wednesday.

    Australia exports, imports, trade balance, retail sales, France unemployment rate, Germany industrial orders, Italy GDP, UK BoE rate decision, EU ECB rate decision, Canada Ivey PMI and U.S. jobless claims and factory orders on Thursday.

    Japan leading indicator, Germany industrial output, France exports, imports, budget balance, Swiss CPI, Italy producer prices, EU GDP, Canada building permits, exports, imports, trade balance, U.S. non-farm payrolls, private payrolls, average earnings, unemployment rate and international trade on Friday.

  5. #15
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    Smile AceTraderFx Mar 5: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    05 Mar 2015
    01:41GMT

    EUR/USD - ..... Euro languishes near Wednesday's fresh 11-year trough of 1.1061 in subdued Asian morning as traders sold the single currency ahead of today's ECB monetary meeting.
    Reuters reported keen to keep a low profile over the Greek crisis, the ECB will focus on improved growth prospects when it meets today and unveil some but not all the details of its 1 tln euros-plus bond buying plan.

    Meeting in Cyprus, the ECB will keep rates on hold, likely lift growth forecasts to reflect a string of positive data surprises but cut inflation projections as it incorporates the full effect of a dramatic oil price fall, backing its case to buy 60 bln euros worth of bonds a month from March to spur inflation.

    Markets will be looking for how quantitative easing will work, when the buying will start, whether it applies to paper with negative yields and how the purchases will be distributed along the yield curve.
    Anticipation of the QE programme has driven euro zone borrowing costs down to the point where Spain can borrow for 10 years at just 1.3% and investors actually pay for the privilege of lending to Germany for 5 years.
    Yields in Italy, Spain and Portugal dropped to record lows this week.

    Data to be released on Thursday:

    Australia exports, imports, trade balance, retail sales, France unemployment rate, Germany industrial orders, Italy GDP, UK BoE rate decision, EU ECB rate decision, Canada Ivey PMI and U.S. jobless claims and factory orders.

  6. #16
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    Smile AceTraderFx Mar 11: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    11 Mar 2015
    01:59GMT

    EUR/USD - ..... Euro fell in NY session on Tuesday and hit a fresh near 12-year low of 1.0669 in Australia earlier this morning as lingering market worry on Greece continued to pressure the single currency.

    Reuters reported a Greek exit from the euro zone would set a dangerous precedent by showing that the single currency is not irreversible and should be avoided, Italian Economy Minister Pier Carlo Padoan said on Tuesday.

    "Today we are facing a major risk of considering the possibility of (a country) not being a member of the monetary union anymore," he told students at a university, adding, "You know what I have in mind".
    He said that if the exit option is there for one member, "that option can be extended to other members. Most of all, the monetary union is not irreversible," he said, speaking in English.
    Padoan added: "I personally think Greece will not exit the euro. I will do all I can to keep Greece inside the European monetary union, however, I cannot predict the future".

    Yesterday on the European morning, Euro pares intra-day loss after tanking from 1.0856 (Aust.) to a 12-year low of 1.0785 in Asian morning after tripping some stops below 1.0800.
    However, the release of stronger-than-expected French industrial production (Jan reading came in at 0.4% vs forecast of -0.3%) prompted short-covering, the pair briefly rebounded to 1.0824 but only to retreat soon after the bounce, suggesting traders were still keen to sell euro on intra-day recovery as market woe on Greek debt continues to weigh on the euro.

    Data to be released on Wednesday:

    Australia Westpac consumer confidence, Japan CGPI, machinery orders, China industrial output, retail sales, France current account, UK industrial output, manufacturing output and U.S. Federal budget.

  7. #17
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    Smile AceTraderFx Apr 10: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    10 Apr 2015
    02:34GMT

    EUR/USD - ...... Euro gains respite temporary respite in Asia after clocking up 4 consecutive days of losses. Although euro tumbled on Thur below last week's low at 1.0713 to a fresh 2-1/2 week trough at 1.0637 in NY due to renewed broad-based strength in the greenback n comments from IMF head Christine Lagarde (see prev. update), short-covering lifted price near NY close n price recovered to 1.0684 in Asian morning on Fri.

    Euro's weakness since the beginning of this week suggests selling the single currency on intra-day recovery is favoured today. At the moment, offers are tipped at 1.0685/90, 1.0700-10 n then 1.0735/40 with stops building above 1.0750, whilst bids are noted at 1.0650-40 with stops below 1.0600.

    It was reported Greece could suffer if it were forced to default on its payments n exit the euro zone, while the currency bloc is better able to weather such a shock than it was 4 years ago, the head of the IMF said on Thursday.
    "I think it would be a terrible situation for the Greek people," IMF MD Christine Lagarde said on CNBC in response to a question about a potential Greek exit from the currency bloc.
    She added that the euro zone is now in a less vulnerable position due to its banking union n strengthened fiscal union.

    Friday will see the release of China CPI, PPI, France industrial output, UK industrial output, manufacturing production, Canada housing starts, unemployment rate, U.S. export price index, import price index and Fed budget.

  8. #18
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    Smile AceTraderFx Apr 23: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-Day Market Moving News and Views
    23 Apr 2015
    02:28GMT

    EUR/USD - ....... The single currency met renewed selling interest at 1.0729 ahead of Asian open n penetrated NY low (also y'day trough) at t 1.0708 to 1.0693 as concerns over Greece's debt payments continued to dampen demand for the euro.

    Whilst intra-day weakness in Asia suggests selling the single currency on recovery is favoured, position traders can look to buy on next decline in anticipation of another rebound twd 1.0800 as Mon's low at 1.0660 is expected to hold ahead of a meeting of eurozone finance ministers on Fri.

    Today, investors shud pay attention to a slew of economic data fm EU n its members countries starting at 06:00GMT, theses include Germany's Gfk consumer confidence n Markit service n manf. PMI for France, Germany, Italy n euro zone. At the moment, offers are tipped at 1.0710-20, 1.0735/40 n then around 1.0750 with stops located just abv 1.0760. On the downside, bids are placed at 1.0685/80, 1.0670-60 n then 1.0640/30 with stops emerging just below 1.0620.

    Thursday will see the release of China's HSBC manufacturing PMI, German GfK consumer sentiment, Germany's Markit manufacturing and service PMI, eurozone Markit manufacturing and service PMI, U.K. PSNCR and retail sales, U.S. new home sales and KC Fed manufacturing.

  9. #19
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    Smile AceTraderFx May 7: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-day Market Moving News and Views
    07 May 2015
    02:07GMT

    EUR/USD - .......EU officials say Athens needs to make concessions so the Eurogroup can at least register significant progress on Monday, possibly enabling the ECB to let Greek banks buy more short-term gov't debt.

    But Thomas Wieser, head of the Eurogroup Working Group which prepares decisions for the ministers, told CNBC late on Tuesday there were still outstanding issues in areas ranging from tax to labour market reform.
    While Reuters reported many issues remain unsolved between Greece and its lenders and agreement at next Mon's Eurogroup meeting of euro zone FinMins is now not possible, Eurogroup chair Jeroen Dijsselbloem said.

    Dijsselbloem was speaking after talks in Paris on Wed with French FinMin Michel Sapin, who also acknowledged to reporters that no deal was imminent.

    Last night the single currency stabilised after intra-day rally to as high as 1.1370 on dollar's broad-based weakness after the release of less-than-expected ADP employment data.
    Bids was located at 1.1320-10 with mixture of bids and stops seen at 1.1300. On the upside, offers was tipped at 1.1370-80 and more at 1.1400.

    Thursday will see the release of Australia unemployment, Japan services PMI, Germany factory orders, France exports, imports, trade balance, U.S. jobless claims and Canada building permits.

  10. #20
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    Smile AceTraderFx May 28: Intra-Day News and Views (EUR/USD) & data to be released today

    Intra-day Market Moving News and Views
    28 May 2015
    00:38GMT

    EUR/USD - ..... Euro rebounded from Wed's fresh 1-week low of 1.0819 in volatile trading in NY. Bloomberg initially reported progress was being made between Greece and its international creditors. More headlines and reports emerged later in NY afternoon session.

    The latest news according to Reuters report which came out after NY close is Greece and its international creditors have converged on key points on a cash-for-reforms deal but talks still have some room to cover before an agreement is clinched, according to Greece's economy minister.

    "Right now negotiations are continuing, ... there have been big points of convergence," George Stathakis told Mega TV's On Line show. "There is still room to cover in the negotiations."
    Greece's leftist-led gov't said on Wednesday it is starting to draft an agreement with its euro zone partners and the IMF that would pave the way for aid, but European officials dismissed this as wishful thinking.

    While German FinMin Wolfgang Schaeuble was surprised by the upbeat tone from some Greek gov't officials, he said there was not much progress in the debt talks.
    Stathakis said Athens has no "plan B" despite recent threats by some ministers that the cash-strapped government may default on loan repayments to the IMF. "I think (reaching) a deal is a one-way street, otherwise we would be entering uncharted waters,".

    Greece and its EU/IMF lenders have been locked in tortuous negotiations on a reforms agreement for four months without a breakthrough in sight. Without a deal, Athens risks default or bankruptcy in weeks.

    Stathakis said there will be one complete agreement and no partial deals."The agreement will cover the set of measures for this year and 2016 and the way that the funding gap will be covered in combination with the debt issue," he said.
    Asked how much funding Greece would need, Stathakis said: "If one leaves the debt as is, there may be a need for 30 bln euros, If the debt issue is tackled, the (funding) need may be 10 bln euros."

    Thursday will see the release of Japan's retail sales, Australia's building CAPEX, Swiss industrial orders, U.K. Q1 GDP, eurozone business climate and consumer confidence, Canada's production prices, U.S. pending home sales.

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