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  • Article / 5 hours ago

    FX Update: Risk-on return sinks the JPY

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: Risk-on return sinks the JPY
    The JPY appears to be the risk sentiment instrument of choice, ignoring solid data out of Japan overnight and the BoJ’s recent less dovish rhetoric and weakening as risk continued to bounce late yesterday and overnight. Elsewhere, the USD is mixed and we’re all waiting central bank signals today and over the weekend.
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  • Article / Yesterday at 10:00 GMT

    CEE Explained: Poland flourishes as euro outsider

    TradingFloor.com Team / Saxo Bank
    Denmark
    CEE Explained: Poland flourishes as euro outsider
    Poland remains a GDP growth leader despite the trend of global economic slowdown, thanks largely to its monetary independence as a euro outsider. But, writes Maciej Jedrzejak, the big question is at what rate the zloty will be converted to euro once the country joins the Eurozone at an unspecified date in the future.
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  • Article / Wednesday at 9:53 GMT

    Daily Shot: Charting the 'Beijing put'

    TradingFloor.com Team / Saxo Bank
    Denmark
    Daily Shot: Charting the 'Beijing put'
    The PBoC's rate-and-RRR cuts will have the effect of injecting $100 billion into the country's markets, but investors remain fearful of a hard landing. Meanwhile, the emerging markets rout is shattering the Brazilian and Colombian currencies, as well as coffee prices.
    Read the article
  • Article / Wednesday at 4:59 GMT

    Aussie fights on three fronts: China, iron ore and RBA

    Managing Director / Technical Research Limited
    New Zealand
    Aussie fights on three fronts: China, iron ore and RBA
    The China turmoil raises the chances of a November RBA rate cut tp about 70%. As long as this remains the situation, the Aussie dollar will be under pressure, particularly with most commodity analysts seeing a supply overhang dragging the iron ore price back into the low 40s by year end.
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  • Editor’s Picks / Wednesday at 1:03 GMT

    PBoC's Zhou under pressure to ease further

    Bloomberg
    Zhou Xiaochuan probably isn’t finished yet. Even after cutting interest rates for the fifth time since November and telling banks they can hoard less cash, the People’s Bank of China governor remains under pressure to do more to support the world’s No. 2 economy amid the biggest slide in stocks since 1996. “A circuit breaker is needed,” says Frederic Neumann, co-head of Asian economics research at HSBC Holdings in Hong Kong. Equities rallied around the world on Tuesday after the PBoC said it will cut the one-year lending rate by 25 basis points to 4.6% and lowered the required reserve ratio by 50 basis points for all banks. In the US, a gain of as much as 2.9% in the Standard & Poor’s 500 Index was erased in late trading, resulting in a 1.4% loss at 4:07 pm in New York.
    Read article on Bloomberg
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