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  • Editor’s Picks / Yesterday at 23:34 GMT

    China needs a finance sector overhaul: World Bank

    South China Morning Post
    Beijing needs to separate its roles as owner of China's banks, regulator and strategic planner, and build a system that directs more lending to productive industries and manages risks better, the World Bank says. The distorted role of the state is the main cause of China's fragile financial sector, which the bank said was unbalanced, repressed, costly to maintain and potentially unstable. "The state has interfered extensively and directly in allocating resources through administrative and price controls, guarantees, credit guidelines, pervasive ownership of financial institutions, and regulatory policies," the World Bank says. The recommendations echo private sector analysts, who say Beijing needs to overhaul its government-run banking system.
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  • Editor’s Picks / Yesterday at 23:00 GMT

    No one innocent in Eurozone blame game

    Business Spectator
    Everyone involved has to take their share of the blame for the Greek crisis. The whole idea of uniting vastly different economies under one currency, one interest rate and one exchange was madness. Various Greek centre-left and centre-right governments that overspent, fiddled statistics and found ingenious ways of clandestine borrowing deserve a lot of the blame. But to be fair, Tsipras inherited their mess. And the IMF paid too much attention to Greece and invested way too much money in it. Now that Greece is officially bankrupt, perhaps we might see a solution. How about Greece exiting the Eurozone, devaluing the Drachma, defaulting on its debt and reforming its economy?
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  • Article / Yesterday at 14:24 GMT

    NFP preview: Send in the hawks?

    Head of Macro Strategy / Saxo Bank
    Denmark
    NFP preview: Send in the hawks?
    The US economy is recovering from yet another poor first-quarter showing and I expect the June employment report to confirm this trend with nonfarm payrolls printing well above 200,000.
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  • Article / Yesterday at 11:00 GMT

    Daily Shot: So much for contagion!

    TradingFloor.com Team / Saxo Bank
    Denmark
    Daily Shot: So much for contagion!
    Resilience seems the name of the game ahead of Sunday's EU referendum in Greece with most local markets (except Greece, of course) steady or higher. DAX futures have stabilised, peripheral bonds are bid and periphery CDS spreads (again, outside Greece) remain low. Elsewhere, we've got good news from China and in the commodities sphere, grains are flying high.
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  • 19h
    fxtime fxtime
    Agree on the illiquidity issue for the euro.....when volume returns lets hope it isn't a stampede as the move will be swift.
    17h
    Martin O'Rourke Martin O'Rourke
    It looks like Greek PM Alexis Tsipras might be about to capitulate on all bailout conditions, but as we've been here before, let's not jump the gun...
    17h
    fxtime fxtime
    Should he agree on the bailout.....how does the ECB/IMF find any trust that his political party will do as they say? History has shown that Greece is...
  • Article / Yesterday at 7:00 GMT

    Morning Markets: Athens Armageddon

    Deputy Editor / TradingFloor.com
    Denmark
    Morning Markets: Athens Armageddon
    After Greece crashed out of its IMF bailout last night and cut itself off from the oxygen of Eurozone emergency funds, Europe's currency bloc is in uncharted territory as efforts continue to prevent a full-blown Grexit.
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  • Trade view / Yesterday at 4:59 GMT
    Short term

    Upbeat US outlook creates USDCHF opportunity

    Managing Director / Technical Research Limited
    New Zealand
    Fortunately for the SNB, conditions have settled down and the pressure is off the EURCHF, at least in the short term. So USDCHF traders will now turn their attention to US data releases on manufacturing and employment.
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