Sep 23, 2015 07:01 am UTC| Commentary
Consensus expectations are for rates to remain on hold at 6%, but in truth SARB should use last weeks dovish Fed meeting to take the market by surprise and hike rates.ZARs aggressive depreciation in recent weeks means that...
NBH's dovish rate decision likely to push EUR/HUF up
Sep 23, 2015 06:58 am UTC| Commentary
Hungarys CenBank held rates unchanged at yesterdays MPC meeting as was widely expected, while moving to its new 3-month deposit benchmark rate from the old 2-week deposit rate, the change had been carefully...
China's soft PMI indicates Q3 growth below 7%
Sep 23, 2015 06:52 am UTC| Commentary
The Caixin/Markit flash PMI surprisingly fell to 47.0 in September from 47.3 last month, against market expectation of a modest rise to 47.5. This is the lowest reading since March 2009 and suggests that Chinese growth in...
China’s flash mfg PMI contracts further
Sep 23, 2015 06:29 am UTC| Commentary
Chinas flash manufacturing PMI for September came in at 47, which is recorded 47.3 in previous month. The manufacturing PMI posted lowest reading and seventh consecutive month in contractionary territory. The data...
ECB QE extension unlikely to cause material EUR/CHF depreciation
Sep 23, 2015 06:05 am UTC| Commentary
If the ECB extends the time horizon of its QE, great pressure is not likely on the EUR/CHF bilateral, as narrowing EA-CHF swap rate differentials would likely come back to their July levels, when the CHF faced strong...
ECB's policy easing may break EUR/USD trading range to downside
Sep 23, 2015 06:00 am UTC| Commentary
The ECB is likely to extend its time-based commitment QE for an additional 6-9 months (ie, through March or June 2017). The greatest effect of this policy change would be to push 2-3 year Eonia swap rates closer to the ECB...
ECB likely to ease policy further before year end?
Sep 23, 2015 05:52 am UTC| Commentary
US might not be a direct immune to a likely China slowdown. In line with market expectations, it is now seen that the Fed delaying its rate liftoff until March 2016, due in part to risks from China.The delay in the Feds...