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The two main macro releases of the day will be UK PMI services at 9:30am (London), and the US employment report, Non-Farm Payrolls (NFP). The recent economic releases from the UK have shown signs of potential growth, and a better than expected services PMI this morning, is likely to put a bid into sterling in the FX markets. It is the first Friday of the month, which means that it is ‘Non-Farm Friday.’ The US employment report will be released at 13:30pm (London)and as alwa…

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S&P says there is more than a 33% chance of Japan being downgraded from AA- Scottish independence: Treasury says currency pact case 'not clear' - BBC News The 100¥ print has been eyed for some time as with the dramatic weakening of the Yen, however the USDJPY cross lost momentum around 99.85 UK PM Cameron says he will look at implementing tax breaks for fuel efficient cars and will block any further rises in duty on petrol Japan's economy…

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Yesterday Mark Carney the current Bank of Canada Governor, and future Bank of England Governor took centre stage. The Treasury Select Committee (TSC) immediately began with questions about his remuneration and housing allowance; Carney seemed comfortable, calm and collected. Initially sterling rallied following the release of his written answers to questions he had received prior. Mark Carney hinted towards a change in stance from Mervyn King’s current approach, but was respectful that…

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Morning Market Headlines RBA cut rates as expected by 25bps to 3.0%, to “foster sustainable growth” High frequency trades improve markets, Bank of England experts argue, by assisting price discovery - CityAM Ex-Goldman trader (current with Morgan Stanley) is probed by SEC over market manipulation – Reuters UK is facing a lost decade for growth – CityAM Feds Bullard favours US$25bn of QE which provided the same impact as US$45bn via Twist…

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