SECURITY: Pakistan PM Sharif Holds Emergency Security Meeting After India Clash
May-07 06:38
Wires report that Pakistani Prime Minister Shehbaz Sharif started an emergency meeting of the National Security Committee, which will be followed by an address to the nation. The meeting involves the country's civil and military leaders.
- Separately, Pakistan's Foreign Affairs Ministry said it summoned India's charge d'affaires to issue a 'strong protest over the unprovoked Indian strikes at multiple locations across Pakistan and Azad Jammu and Kashmir.'
- The last 24 hours have seen the most intensive escalation in tensions between the two nuclear powers in decades. Dozens of people may have been killed in an exchange of artillery fire.
- India framed its attack as a response to Islamabad's alleged support for last month's terrorist attack in Kashmir. AFP quoted Pakistan's Defence Ministry as saying that 'retaliation has already started'.
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EQUITIES: European Equities are plummeting in early trade
Apr-07 06:35
- Estoxx futures (VGM5) has fully cleard the 4600.00, and is now close to test the next immediate support at 4542.27 3.000 proj of the Mar 3 - 11 - 19 price swing.
- At current levels, the Cash (SX5E) is set to open down 4.5% at 08.00BST.
RATINGS: Affirmations On Friday
Apr-07 06:34
Sovereign rating reviews of note from after hours on Friday include:
- Fitch affirmed Italy at BBB; Outlook Positive
- Fitch affirmed Slovenia at A; Outlook changed to Positive
- Morningstar DBRS confirmed the United States of America at AAA, Stable Trend
USD: The CHF and Yen lead the early gains in G10
Apr-07 06:31
- The Swiss Franc and the Yen are the best performer into the European session, a continuation of late and from the Overnight session, as they act as safer Haven Currencies give the huge Risk Off Tone.
- While the USDJPY fell all the way to print a 144.82 low overnight, it has since recovered some 70 pips, but still trades in a wide 230 pips.
- USDCHF is down 1.27% and is eyeing a test to 0.8477, Friday's low.
