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Intra-day Market Moving News
31 Mar 2020 08:06 EUR/USD - 1.0995... Reuters reported German unemployment rose slightly in March, data showed on Tuesday, but the Federal Labour Office warned that this did not reflect the escalation of coronavirus crisis and its impact on the job market since only figures up to March 12 were included. 
 
The number of people out of work rose by 1,000 to 2.267 million in seasonally adjusted terms, the data showed. That compared with an expected rise of 29,000 forecast in a Reuters poll. 
 
The unemployment rate was unchanged at 5%. 
 
31 Mar 2020 08:00 EUR/USD - 1.0996... Reuters news, ECB's Visco says : 
 
- ECB will not tolerate any impediments that hider effective transmission of monetary policy 
- ECB ready to raise size of asset purchases, change economy in current crisis 
 
31 Mar 2020 06:27 EUR/USD - 1.1008... Reuters reported keeping firms closed for more than two months due to the coronavirus outbreak could cost the German state of Bavaria between 49-94 billion euros ($54-104 billion), Germany's Ifo institute said on Tuesday. 
 
That would shave up to 15 percentage points off economic growth in the state for the full year, added the institute. 
 
It also said if businesses in the state are shut for three months, the costs would balloon to 68-138 billion euros - and would take up to 22.1% off economic growth. 
 
31 Mar 2020 06:19 GBP/USD - 1.2345... Reuters reported Britain narrowed its current account deficit by more than expected in the last three months of 2019, bringing down the shortfall for the year as a whole, official data showed on Tuesday. 
 
The balance of payments deficit - a long-standing concern for investors because it leaves Britain reliant on foreign inflows of cash - stood at 5.6 billion pounds in the fourth quarter, smaller than a median forecast of 7.0 billion pounds in a Reuters poll of economists. 
 
31 Mar 2020 06:13 EUR/USD - 1.1020... Reuters news, German's Ifo institute says : 
 
- if firms are closed for more than two months, it could cost state of Bavaria 49-94 bln euros 
 
31 Mar 2020 02:50 EUR/USD - 1.1029.. The single currency pares intra-day loss on minor short covering ahead of Tokyo lunch break after extending decline fm y'day's high of 1.1143 (AUS) to 1.1085 in Asian morning, intra-day spike down to said Asian low was attributed to a sudden bout of usd demand. 
 
There has been market chatter in last few sessions of volatile trading in NY morning later today due to purchase of usd by fund managers to re-balance porfolio for quarter end valuation at currency fixing at 15:00GMT n this may keep euro on the back foot. Therefore, the fall fm Fri's 1.1147 high to 1.0985 today confirms nr term upmove fm last Mon's near 3-year bottom has made a temp. topp n choppy consolidation with downside bias is in store. Offers are noted at 1.1045/55 n more at 1.1070 while some bids are touted at 1.0985/75 with stops below 1.0950. 
 
We have data dump from euro area countries during European morning session, pls refer to to Economic Indicators page for details n pay attention to German unemployment data at 07:55GMT. 
 
31 Mar 2020 02:40 USD/JPY - 108.45.. Despite moving narrowly in NY afternoon on Mon after staging rebound fm intra-day 9-day low of 107.13 (Asia) to 108.29 in NY morning, the greenback rallied abv said y'day's high shortly after Tokyo open to 108.72 b4 retreating. 
 
Traders cited intra-day gain due to last minute usd buying at Tokyo fixing at 00:55GMT on end-of-fiscal year dlr demand by Japanese companies n more buying is expected, so buying the greenback on dips for a strong retracement of decline from last week's 3-week peak at 111.71 (Wed) is favoured. Bids have been raised to 108.30/10 n more below with stops below 107.50. Some offers are touted at 108.70/75 n more at 108.90/00 with stops abv 109.10. 
 
On the data front, U.S. will release Redbook retail sales, CaseShiller home price, pay attention to Chicago PMI n later consumer confidence. 
 
31 Mar 2020 01:17 USD/JPY - 108.48... Reuters news, Japan EconMin Nishimura says : 
 
- Japan is not at stage to declare state of emergency 
- govt has sense of crisis 
- Japan is holding up but new cases of coronavirus will surge if we ease up 
- will have big impact on economy if major cities such as Tokyo and Osaka adopt lockdown 
- govt will examine comprehensively whether to declare state of emergency 
- considering details of cash payouts for people in need as part of economic package for coronavirus 
- want to carry out big campaign to boost demand once coronavirus outbreak comes to end 
- concerned we may see bad numbers in factory output in March as companies adjust production 
- will adopt steps to protect jobs in economic package for coronavirus 
- job market held up in Feb but I have strong sense of crisis as situation could worsen 
 
31 Mar 2020 00:08 USD/CNH - 7.1116(offshore)... Reuters new, China's report : 
 
- mainland China reports 48 new confirmed cases pf coronavirus on March 30 vs 31 on March 29 
- mainland China reports 1 new coronavirus death on March 30 vs 4 vs March 29 
- mainland China total number of confirmed coroanvirus cases hits 81518 as of end-March 30 
- mainland China's total number of coronavirus deaths reaches 3305 as of end-March 30 
- mainland China;s imported coronavirus cases at 771 as of end-March 30, up 48 from day earlier 
- China's Hubeu province reports zero new cases on March 30 vs zero on March 29 
- China's Hubei province 1 new death on March 30 vs 4 on March 29 
- death toll from coronavirus outbreak in China's Hubei at 3187 as of end-March 30 
 
31 Mar 2020 00:06 USD/JPY - 108.15... Reuters news, Japan govt official says : 
 
- manufacturers' output forecasts for March, April do not take into account recent development regarding coroanvirus outbreak 
- outlook for industrial production to remain server for time being 
 
31 Mar 2020 00:01 USD/JPY - 108.05... Reuters reported Japan's factory output rose 0.4% in February, government data showed on Tuesday, slowing from the previous month hit by supply chain disruptions and slumping demand blamed on the rapid spread of the coronavirus epidemic. 
 
That compared with a median market forecast for a 0.1% rise. 
 
Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to fall 5.3% in March and rise 7.5% in April, the data showed. 
 
31 Mar 2020 00:00 USD/JPY - 108.04... Reuters reported Japanese retail sales rose 1.7% in February from a year earlier, compared with a median market forecast for a 1.2% decline, government data showed on Tuesday. 
 
30 Mar 2020 23:04 NZD/USD - 0.6013... Reuters earlier reported the number of new dwelling consents approved in New Zealand rose a seasonally adjusted 4.7 percent in February compared with a 2.8 percent drop in the previous month, data from Statistics New Zealand showed on Tuesday. 
 
Excluding apartments, flats, and retirement village units, the number of consents for new houses was up 2.7 percent. 
 
Building consents were 6.0 percent higher than the same month a year ago. 
 
30 Mar 2020 23:02 GBP/USD - 1.2384... Reuters reported confidence among British companies slumped in the second week of March as the coronavirus crisis gathered pace but before the government shut much of the economy to slow its spread, according to a survey published on Tuesday. 
 
The business confidence index from Lloyds Bank hit its joint lowest level since the depths of the global financial crisis 11 years ago in the week that started on March 9, touching -3%. 
 
During that week, the Bank of England cut interest rates and finance minister Rishi Sunak said he would ramp up public spending. Both measures proved to be just the prelude to further emergency stimulus moves by the BoE and the government. 
 
30 Mar 2020 15:34 GBP/USD - 1.2407... Reuters then reported the Bank of England said on Monday it would extend an emergency liquidity measure, the three-month Contingent Term Repo Facility (CTRF), to run until the end of April and it would also hold a one-month CTRF operation each week until May 1. 
 
The BoE reactivated the facility last week as part of its attempts to keep financial markets running smoothly during the coronavirus crisis. 
 
"The Bank will continue to monitor market conditions carefully and the operation of the CTRF remains under review," it said in a statement on Monday. "The Bank stands ready to take additional action if necessary." 
 


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