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  • Article / 2 hours ago

    Aussie dollar a hostage to global forces

    Managing Director / Technical Research Limited
    New Zealand
    Aussie dollar a hostage to global forces
    Australia's economic growth came in under market expectations, at 2% year-on-year, well below trend. There is a good case for the AUD to 'adjust' a lot more yet. Money markets maintain a 100% chance the RBA will cut its 2% policy rate by 25 basis points by year end.
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  • Editor’s Picks / 3 hours ago

    IMF's two reasons why first-half global growth is weak

    CNBC
    The IMF said on Wednesday that moderate global growth in the first half of the year is reflective of two elements: a slowdown in emerging economies and weak recovery in advanced ones. "In an environment of rising financial market volatility, declining commodity prices, weaker capital inflows and depreciating emerging market currencies, downside risks to the outlook have risen, particularly for emerging markets and developing economies," the IMF said. The analysis comes when global markets have been in flux, with US crude prices closing up nearly 2% on Wednesday after falling as much as 4%. This came a day after crude futures settled down nearly 8% after a massive three-day rally. Equities have also been taken for a ride, US stocks closing more than 1% higher a day after plunging more than 2%.
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  • Editor’s Picks / Yesterday at 23:38 GMT

    China, Malaysia spark fears of an Asian financial crisis

    Nikkei Asian Review
    Financial instability in Asia and elsewhere has been attributed partly to China, following the mishandled yuan devaluation and the failed bid to prop up equities. Some wonder if another Asian crisis is brewing. The immediate answer is no, because debt and forex factors that helped to trigger the 1997 crisis are not in play now. But this does not mean everything is different or better. Now, as then, people are fretting about an Asian country, without being able to see how contagion could be unleashed. In 1997 the focus was on Thailand; this time it's on Malaysia. This nation may be a special case, but other countries are feeling the economic stress manifest in slowing growth and faltering exports.
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  • Article / Yesterday at 13:49 GMT

    Steen's Chronicle: The old and the new economic order

    Chief Economist & CIO / Saxo Bank
    Denmark
    Steen's Chronicle: The old and the new economic order
    The current fiat economy whereby manufactured money is pumped into a world blighted by higher costs and lower output is totally unsustainable. Saxo Bank's Steen Jakobsen has devised a new economic model and says the way forward is to adjust to slower growth and get back to the basics of producing goods and services that add value.
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  • Article / Yesterday at 13:00 GMT

    CBO data says Yellen can wait

    Managing Partner / Spotlight Group
    United Kingdom
    CBO data says Yellen can wait
    The latest release of economic projections from the CBO increased its estimate of how many Americans are going to look for work in coming years, as well as how many of those people will find jobs in the private sector. This data point may offer some clues as to the Fed's rate hike plans.
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  • Article / Yesterday at 11:00 GMT

    Rosneft's earnings winner not quite as it seems

    Russia oil and gas expert
    United Kingdom
    Rosneft's earnings winner not quite as it seems
    Russian oil group Rosneft managed to keep prices up and costs down in the second quarter, beating market expectations for its earnings. As oil prices slide and the rouble weakens, the second half of this year and 2016 might prove more of an uphill struggle, especially as the company faces hefty debt repayments.
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