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Intra-day Market Moving News
14 Nov 2018 23:54 USD/MAJORS - Reuters news, Fed Chairman J. Powell continues to speak : 
 
- 'really strong' U.S. Economy has put upward pressure on the dollar, and has tightened financial conditions for emerging markets 
- stimulus from tax cuts and spending increases could wear off in 'next year or so' 
14 Nov 2018 23:10 USD/MAJORS - Reuters news, Fed Chairman J. Powell who is speaking at a conference in Dallas, says :  
 
 
- having press conferences after every meeting means all meetings are "Live" now for rate increases, and markets will have to adjust 
- he is 'very happy' about the state of the economy 
- good reason to think economy will continue in a positive way 
- economy at a point where Fed has to take seriously both risk of moving too far and stifling recovery, and not moving far enough to control inflation 
- Fed normalization of balance sheet so far going 'very well' but does not know where proper stopping point is yet 
- so far Fed does not see much impact from trade debate even though businesses often express concern 
- could see higher inflation and a bit slower growth from higher tariffs 
- possible signs of global slowdown 'concerning' 
- equity volatility just one of many factors that the Fed watches 
 
 
14 Nov 2018 22:41 GBP/USD - 1.2998.. Reuters breaking news, DUP leader Arlene Foster says : 
 
- we had a frank meeting tonight with the prime minister lasting almost an hour. She is fully aware of our position and concerns.
14 Nov 2018 22:34 GBP/USD - 1.3003.. Reuters reported earlier Ireland achieved all its key priorities in Britain's withdeawal agreement with the European Union, Irish  
Prime Minister Leo Varadkar said on Wednesday, adding that its approval by the British government  
marked one of the better days in his career. 
 
Speaking to reporters after British Prime Minister Theresa May won the backing of her cabinet for the draft deal, Varadkar said it was "decisive progress" that paved the way for a special European Union summit later this month. 
 
The draft agreement represented a "satisfactory" outcome on "national priorities" Varadkar told a  
news conference. 
 
14 Nov 2018 22:30 Continues from previous update... 
 
But the weakest British leader in a generation now faces the ordeal of trying to push her deal through parliament, where opponents lined up to castigate the agreement, even before reading it. 
 
May gave no date for a vote in parliament but she will need the votes of about 320 of the 650 lawmakers. It is unclear whether she has the numbers. 
 
A senior Eurosceptic lawmaker said the cabinet decision was a majority decision, not a unanimous one.  
 
14 Nov 2018 22:29 Continues from previous update... 
 
Speaking over protesters shouting anti-Brexit slogans from the end of Downing Street, she said the deal, 585 pages long, was the best that could be negotiated.  
 
"When you strip away the detail, the choice before us was clear: this deal, which delivers on the vote of the referendum, which brings back control of our  
money laws and borders, ends free movement, protects jobs security and our Union; or leave 
with no deal; or no Brexit at all," she said.  
 
No ministers threatened to resign over the deal, which May hopes will satisfy both Brexit voters and EU supporters by ensuring close ties with the bloc  
after Britain leaves on March 29.  
 
14 Nov 2018 22:27 GBP/USD - 1.3001.. Cable jumped fm 1.2880 to as high as 1.3072 in NY afternoon on postive Brexit news. Reuters reported British Prime Minister Theresa May won the backing of her senior ministers  
for a draft European Union divorce deal on  
Wednesday, freeing her to tackle the much more  
perilous struggle of getting parliament to approve  
the agreement. 
 
More than two years after the United Kingdom voted  
in a referendum to leave the EU, May told reporters  
outside her Downing Street residence that she had  
won over her divided cabinet, which includes some  
senior Brexiteers. 
 
"The collective decision of cabinet was that the  
government should agree the draft withdrawal agreement and the outline political declaration,"  
she said, after a five-hour meeting. 
 
14 Nov 2018 16:52 EUR/GBP - 0.8688... Reuters news, DUP leader Foster says : 
 
- if May decides to go against her previous positions, then there will be consequences 
- we could not support a deal that broke up the UK 
- hope to see text of Brexit deal when meet PM 
 
Reuters then reported British Prime Minister Theresa May should keep her word with a Brexit deal which preserves the integrity of the United Kingdom or face the consequences, the leader of the small Northern Irish party which supports her government said. 
 
14 Nov 2018 16:47 EUR/GBP - 0.8689... Reuters news, journalists say : 
 
- UK Cabinet meeting overruning, now not expected to finish until at least 1800 GMT
14 Nov 2018 16:04 Continues from previous update... 
 
The Bank of Canada has raised interest rates five times in the last 16 months as the economy strengthens and says it is paying close attention to how people with debts are coping with higher repayments every month. 
 
About a quarter of those polled in the financial systems survey said a 150- to 200 basis point rise in Canadian five-year interest rates over a 12-month period could trigger adverse events like a house price correction or a large increase in household defaults. 
 
14 Nov 2018 16:03 USD/CAD - 1.3230... Reuters reported the overall perceived risk to the Canadian financial system has increased slightly over the last six months but confidence in its resilience remains high, the Bank of Canada said on Wednesday. 
 
A six-monthly central bank survey of risk management professionals showed that 44 percent felt the chances of a high-impact event had grown slightly while 50 percent saw no change. 
 
Compared to the last survey, respondents perceived a higher chance of the global economic outlook deteriorating and also fretted about a reduction in market liquidity, the bank said. 
 
14 Nov 2018 15:46 EUR/GBP - 0.8700... Reuters news, Downing Street official says : 
 
- PM May expected to make statement outside her office following Cabinet meeting approx 1700 GMT 
 
14 Nov 2018 15:35 GBP/USD - 1.2984... Reuters news, IMF says : 
 
- UK-EU free trade deal likely to reduce UK GDP by 2.6-3.9 pct vs staying in EU 
 
14 Nov 2018 15:03 EUR/GBP - 0.8724... Reuters news, PolHome editor says : 
 
- very strong chance that UK's David Mundell will resign from the Cabinet 
 
14 Nov 2018 14:31 EUR/GBP - 0.8717... Reuters news, German Justice Minister Barley tweeted : 
 
- there is hope for an orderly Brexit, would be good for Britons and cohesion in Europe 
 
Reuters then reported German Justice Minister Katharina Barley said there was hope that Britain would leave the European Union in an orderly fashion, harshly criticisng "Brexiteers" for their opposition to the withdrawal agreement reached between London and Brussels. 
 


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