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Friday, April 29

29th Apr - EURUSD tickling the high end

Previously on MoreLiver’s:

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Germany’s AfD prepares 2017 assault on Merkel and Co.Politico

The Poor Chances Of The ECB TLTRO II Lending Program SucceedingSocial Europe

So Which Eurobank is Having Dollar Funding Problems?Yves Smith

GDP up by 0.6% in the euro area and by 0.5% in the EU28 – Eurostat
Euro area annual inflation down to -0.2% - Eurostat
Euro area unemployment down to 10.2% - Eurostat
Lower inflation, stronger growth, ECB to retain easing bias – Nordea
EZ GDP above pre-crisis peak as growth surges past U.S., Britain – Reuters
Draghi Challenge Highlighted as Inflation Rate Back Below Zero – BB
Mixed euro area data - still pressure on the ECB due to low inflation – Danske Bank

Warning: Hawkishness AheadTim Duy
The Fed is primed by financial markets to change their story. If the data shifts as well, they will be looking hard at June. I don’t think the data will line up in time, but the possibility should be on your radar ... Remember, the Fed can turn hawkish as quickly as it turned dovish.

US Q1 growth disappoints, but improvement likely – Pictet
GDP review: Déjà vu - don’t extrapolate weakness in Q1 – Nordea

Do You Believe Six Impossible Things before Breakfast? Marc Chandler

Unmasking the Men Behind Zero HedgeBB

Inflation forecast justified BoJ decision to sit it out this timeTF

El-Erian: Bank of Japan Finds It Can't WinView / BB

Danske DailyDanske Bank

Downbeat sentiment, JPY main gainer, eyes on Euro-area inflation and GDP * Euro-area inflation back in negative territory * Yields on a trajectory lower, with Fed, ECB and long dated supply behind us * The JPY keeps rising, USD lower on weak Q1 GDP

Morning MarketsTF
A very disappointing first-quarter GDP in the US has added yet more fuel to the yen rally pushing USDJPY to an 18-month low and ever closer to the key 107.00 mark.
Daily Market Comment Marc Chandler
Dollar Losses Extended Ahead of the Weekend

Daily Market CommentMacro Man
Will a Canadian ratings agency dictate the dollar's fate?

Daily ShotTF
The weakness seen in the greenback is reflected in a number of charts from commodities to the USDJPY to the USDBRL. At the moment however the pickup in fund flows to emerging markets is perhaps the most notable consequence.

Daily Press SummaryOpen Europe
Brexit economists argue UK would prosper outside EU under unilateral free trade * Commission Vice President: We won’t be blackmailed by Turkey on migrant deal * Eurozone grows by 0.6% in first quarter * Diplomatic row erupts over Austrian plans to build a fence on border-pass shared with Italy * Regional assembly could block Belgium from ratifying EU-Canada free trade deal * Eurogroup meeting on Greek bailout re-scheduled * German draft bill to cut social benefits for EU citizens welcomed by media * Germany’s populist AfD set to adopt anti-Islamic manifesto at congress this weekend * Leaked document: EU leaders opposed re-run of ‘lead candidates’ which saw Juncker ‘elected’ to Head of Commission in 2014

Brussels PlaybookPolitico
What Belgian police knew before attacks — Commission emissions

USDJPY Plunges As Dollar Drops To 11 Month Lows, Commodities Rise

FX UpdateTF
USDJPY pushed to new lows despite a holiday in Japan overnight while EURUSD is up teasing the key 1.1400 area resistance as both Europe and the US report key inflation measures today.

From the FloorTF
A weaker US dollar is greasing the wheels of an oil-led rally in commodities and the rally will be stoked for as long as the greenback remains soft. The yen extended its gains against the dollar overnight with USDJPY reaching fresh lows.

Venäjän keskuspankki ei uskalla keventää * USA:n talouskasvu hidastui odotettua enemmän * Euroalueen talouskasvu piristyy hieman * Euroalueen inflaatio jää nollan alapuolelle