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  • Article / 54 minutes ago

    Divergence is just beginning, not ending

    Head of Trading / The ECU Group plc
    United Kingdom
    Divergence is just beginning, not ending
    Monetary policy divergence is the topic of the day as the clock counts down to the European Central Bank's meeting on Thursday where the ECB is expected to announce easing measures even as the US Fed prepares to tighten monetary conditions. There are signs that international divergence is only in the early stages of its impact on forex markets, and not, as many are now suggesting, nearing the end.
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  • Article / 1 hour ago

    Gold bounces on short covering ahead of the 'hike'

    Head of Commodity Strategy / Saxo Bank
    Gold is trading higher for a second day as speculative short positioning and weak ETP holdings are indications of a US rate hike being all but priced in. The ECB meeting Thursday and US job report Friday are the next events to watch given the potential impact on the dollar.
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  • Editor’s Picks / 3 hours ago

    Russia accuses Turkey of aiding ISIS oil trade

    Moscow and Ankara have traded barbs since last Tuesday's shootdown of a Russian Su-24 at the Turkish-Syrian border, with president Vladimir Putin accusing his Turkish counterpart of supporting terrorism. Yesterday saw the Russian leader double down on his charges, stating that "large volumes of oil [...] coming from oil fields controlled by ISIS and other terrorist organisations, enter Turkey's territory". Putin also said that "the decision to shoot down our plane was dictated by the desire to ensure the security of these oil supply routes to Turkey" – a significant charge given Turkey and Nato's stated aim of combatting ISIS in Syria. Turkish president Recep Tayyip Erdogan responded to the charge by demanding Russia prove its allegation, adding that he would step down were it to do so.
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  • Article / 4 hours ago

    Daily Shot: Discounted CNH tells China to devalue Team / Saxo Bank
    Daily Shot: Discounted CNH tells China to devalue
    Economic indicators from China keep painting a dismal picture, and commodities markets reflect persistently weak demand from Chinese industry and construction. The offshore yuan is trading at a discount again in spite of People's Bank of China's intervention. That means the market is telling China to devalue.
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