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  • Editor’s Picks / Yesterday at 23:45 GMT

    Emerging market turmoil a warning for global economy

    Emerging economies risk "leading the world economy into a slump", with lower growth and a rout in financial markets, according to the latest Brookings Institution-Financial Times tracking index. Chris Giles writes that released ahead of the annual meetings of the International Monetary Fund and World Bank in Lima, Peru, the index paints a much more pessimistic outlook than the fund is likely to predict later this week. According to Eswar Prasad of Brookings, weak economic data across most poorer economies has created "a dangerous combination of divergent growth patterns, deficient demand, and deflationary risks".
    Read article on CNBC
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  • Editor’s Picks / Yesterday at 20:59 GMT

    Fresh yuan drop would set cat among equity pigeons

    South China Morning Post
    Who has the courage to venture back into the stockmarkets? Falls that erased 30% to 40% from benchmark indices in Hong Kong and China have left bruised investors nursing one of the worst quarters since 2008. Many investors fear that the worst is yet to come and that further economic weakness or a sudden financial crisis in China could send shares plummeting and destroy what little confidence is left in a market where daily turnover rates are scraping near six-month lows. A Fed rate hike or a slowing China are real fears. But the biggest danger is further yuan devaluation, which would set the cat among the pigeons. China's markets will resume trading on October 8.
    Read article on South China Morning Post
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  • Editor’s Picks / Yesterday at 20:52 GMT

    Black gold tide turns in favour of US

    Nikkei Asian Review
    Vladimir Putin and Venezuela's Nicolas Maduro have a few things in common. Both presidents like to rail against the US. And their countries' fortunes depend on hydrocarbons. So it came as no surprise that Maduro worked petroleum into a denunciation of US supremacy. South American petrostate Venezuela derives most of its foreign-currency income from crude. For Russia, energy account for 60% its exports. Both countries have been hit hard by the falling price of black gold – hard enough to see rising US shale oil output as a conspiracy against them. Oil is a medium by which power ebbs and flows between nation states. This tide has turned in favour of the US.
    Read article on Nikkei Asian Review
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  • 2d
    Michael O'Neill Michael O'Neill
    You too, mischco.
    Hisham Boulos Hisham Boulos
    Nice analysis Mike .. do you think we have seen the end of the uptrend in the USDCAD .. ? or still USD has steam .. also...
    John Shaw John  Shaw
    Great post Mike. Have a good weekend bud.
  • 2d
    Adam Courtenay Adam Courtenay
    I don't think anyone saw that coming..
    Martin O'Rourke Martin O'Rourke
    USDJPY slips through 119.00 at 1335 GMT to test the 118.90 area. EURUSD at 1.1306.
    Martin O'Rourke Martin O'Rourke
    Listen to what Mads had to say in the immediate aftermath of the print. "There's pretty much nothing positive in this report," he says. More here:
  • Calendar event / Friday at 12:30 GMT

    US U.S. Employment Report

    High Non-Farm Payrolls
    High Unemployment Rate
    High Avg Hourly Earnings (USD)
    High Avg Hourly Earnings-Net Chg (USD)
    High Avg Hourly Earnings, M/M%
    High Participation Rate
    Med Overall Workweek
    Med Overall Workweek Net Chg
    Med Government Payrolls
    Med Private Payroll
    Med Avg Hourly Earnings, Y/Y%
  • Article / Friday at 12:00 GMT

    Steen's Chronicle: Meet Mr and Mrs Consensus

    Chief Economist & CIO / Saxo Bank
    Steen's Chronicle: Meet Mr and Mrs Consensus
    The US, its policymakers, its investors and its analysts are in thrall to a foolish narrative – that China must and will fail. The consensus on this is as breathtaking as it is arrogant and they are all guilty of ignoring what's really going on in China, where emerging markets are actually headed and what medicine the American economy really needs.
    Read the article
    Gord Vancouver Gord Vancouver
    Outstanding assessment. Sad on your encountering a lack of any willingness to consider viewpoints and opportunities beyond what is expressed in/about either Silicon Valley or New York....
    PabloH PabloH
    Steen but you don't see any long term impact in productivity of the reforms carried in many European countries?
    El súper petrolero El súper petrolero
    steen is olmost ok.... but first watch 20% correccion then the aud usd 80