something interesting

<  BACK TO Market Analysis

China markets gyrate

FOREX_china-markets-gyrate-as-yuan-hits-one-year-lows2307_FXPIG

China’s yuan rebounded from more than one-year lows against the dollar on Friday afternoon, driven up on suspected dollar sales by major state banks to prop up a currency that has been hit by a bitter Sino-U.S. trade conflict.

The frenetic action in the currency market was matched by some sharp gyrations in the country’s stock markets, which recovered from early losses to close solidly higher amid reports of the imminent release of detailed rules governing the wealth management industry.

Markets were already tense in early trade after U.S. President Donald Trump told CNBC on Thursday U.S. time that a strong dollar puts the United States at a disadvantage and that the Chinese yuan “was dropping like a rock.”

Beijing’s currency management has been a sore point in relations between China and the United States in the past, so any suspicions that Chinese authorities might be deliberately weakening the yuan could further inflame tensions between the two countries.

The latest bout of yuan weakness, catalysed by concerns over the brewing trade war and a slowing Chinese economy, has seen it shed 7.5 percent of its value against the dollar since the end of the first quarter of this year - its biggest 90-day fall since the market exchange rate was unified in 1994.

Since a shock devaluation of the yuan by Beijing in 2015 triggered a sharp slide in the currency and rattled global markets, Chinese authorities have been at pains to keep the yuan largely stable to prevent a destabilising flight of capital.

Friday’s yuan fixing of 6.7671 per dollar was the lowest since July 14, 2017, and represented the biggest one-day weakening in percentage terms since June 27, 2016.

The midpoint largely matched market forecasts, traders said, an indication that the authorities did not appear eager to hit the brakes on the yuan’s fall.

Later, though, four traders said they had seen major state-owned banks selling dollars and propping up the yuan.

Another trader said he saw state banks selling dollars onshore at around 6.81 per dollar. The dollar selling had the effect of causing the yuan to pull back from its downhill dash.

After falling to a low of 6.8128 per dollar, the yuan recouped its losses in the afternoon. The yuan finished its onshore trading session at 6.7795 to the dollar, the weakest such close since July 14, 2017, 1 pip firmer than the previous late session close.

Offshore the yuan was trading 0.2 percent softer than the onshore spot at 6.7955 per dollar.

Some traders said dollar liquidity offered by the big state-owned banks in the morning halted the sharp decline in the yuan, causing it to reverse course.

The Shanghai Composite index closed 2 percent higher Friday, after earlier dropping 0.7 percent. The blue-chip CSI300 index ended 1.9 percent higher, turning around from a 0.9 percent drop.

Traders attributed the moves to a report by the 21st Century Business Herald that China will soon publish detailed rules on banks’ wealth management products (WMPs).

The newspaper said it was unclear whether the threshold for WMPs will be lowered, or whether WMPs will be allowed to invest in the secondary market. All the same, investors saw it as a sign that rules will be less rigid than expected, helping drive banking shares up by more than 4 percent.

Reuters was not able to independently verify the report. The China Banking Regulatory Commission and People’s Bank of China did not immediately respond to requests for comment.

The turnaround in stocks saw Chinese government bond futures fall, with Chinese 10-year treasury futures for September delivery, the most traded contract, dropping as much as 0.9 percent on the day. They were last 0.8 percent lower at 95.725.

A fixed-income trader in Shanghai said that the sharp drop in treasury futures reflected an expectation that the new WMP rules would be bullish for stocks and riskier assets.

Source: reuters.com

China’s yuan rebounded from more than one-year lows against the dollar on Friday afternoon, driven up on suspected dollar sales by major state banks to prop up a currency that has been hit by a bitter Sino-U.S. trade conflict.

The frenetic action in the currency market was matched by some sharp gyrations in the country’s stock markets, which recovered from early losses to close solidly higher amid reports of the imminent release of detailed rules governing the wealth management industry.

Markets were already tense in early trade after U.S. President Donald Trump told CNBC on Thursday U.S. time that a strong dollar puts the United States at a disadvantage and that the Chinese yuan “was dropping like a rock.”

Beijing’s currency management has been a sore point in relations between China and the United States in the past, so any suspicions that Chinese authorities might be deliberately weakening the yuan could further inflame tensions between the two countries.

The latest bout of yuan weakness, catalysed by concerns over the brewing trade war and a slowing Chinese economy, has seen it shed 7.5 percent of its value against the dollar since the end of the first quarter of this year - its biggest 90-day fall since the market exchange rate was unified in 1994.

Since a shock devaluation of the yuan by Beijing in 2015 triggered a sharp slide in the currency and rattled global markets, Chinese authorities have been at pains to keep the yuan largely stable to prevent a destabilising flight of capital.

Friday’s yuan fixing of 6.7671 per dollar was the lowest since July 14, 2017, and represented the biggest one-day weakening in percentage terms since June 27, 2016.

The midpoint largely matched market forecasts, traders said, an indication that the authorities did not appear eager to hit the brakes on the yuan’s fall.

Later, though, four traders said they had seen major state-owned banks selling dollars and propping up the yuan.

Another trader said he saw state banks selling dollars onshore at around 6.81 per dollar. The dollar selling had the effect of causing the yuan to pull back from its downhill dash.

After falling to a low of 6.8128 per dollar, the yuan recouped its losses in the afternoon. The yuan finished its onshore trading session at 6.7795 to the dollar, the weakest such close since July 14, 2017, 1 pip firmer than the previous late session close.

Offshore the yuan was trading 0.2 percent softer than the onshore spot at 6.7955 per dollar.

Some traders said dollar liquidity offered by the big state-owned banks in the morning halted the sharp decline in the yuan, causing it to reverse course.

The Shanghai Composite index closed 2 percent higher Friday, after earlier dropping 0.7 percent. The blue-chip CSI300 index ended 1.9 percent higher, turning around from a 0.9 percent drop.

Traders attributed the moves to a report by the 21st Century Business Herald that China will soon publish detailed rules on banks’ wealth management products (WMPs).

The newspaper said it was unclear whether the threshold for WMPs will be lowered, or whether WMPs will be allowed to invest in the secondary market. All the same, investors saw it as a sign that rules will be less rigid than expected, helping drive banking shares up by more than 4 percent.

Reuters was not able to independently verify the report. The China Banking Regulatory Commission and People’s Bank of China did not immediately respond to requests for comment.

The turnaround in stocks saw Chinese government bond futures fall, with Chinese 10-year treasury futures for September delivery, the most traded contract, dropping as much as 0.9 percent on the day. They were last 0.8 percent lower at 95.725.

A fixed-income trader in Shanghai said that the sharp drop in treasury futures reflected an expectation that the new WMP rules would be bullish for stocks and riskier assets.

Source: reuters.com

lastest Articles

Market Analysis
May’s Resignation means Brexit is Back to Square One
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 24.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD clings to modest recovery gains, 1.2700 mark back on sight post-UK data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Interim resistance emerges at the 55-day SMA at 1.1236
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold in search of a firm direction, holds steady near $1275 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD remains under pressure near 1.1150 post-German GDP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 22.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC Minutes to portray a cautious tone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD technical analysis: Hammered down to 4-1/2 lows, vulnerable to test 1.2600 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -21.02.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
RBA: Rate cut in June and August?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD resumes the downside near 1.1150 ahead of ECB, data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's de Cos: European financial system remains fragile
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY remains sidelined below the 123.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD seen at 1.15 in 6-month – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Lower Despite Reaching Tariff Agreement With US
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 17.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to session lows, retreats further below $1300 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Short-term consolidation?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
JPY futures: room for further depreciation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/TRY edging higher, approaches the 6.10 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD technical analysis: Bears flirting with 1-week old descending trend-channel support
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 14.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD keeps the red below mid-1.2900s, 2-week lows post-UK jobs data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Balance of risks still favour 1.10 in 2Q19
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -13.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Broadbent: Doesn't know which way rates would go in case of a messy no-deal Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar falls as the US-China trade war intensifies
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Central Banks: Space to deliver more easing, if required – Standard Chartered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY fails to extend attempted recovery beyond 110.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 09.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD finds little relief in RBA steady hand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Door open for extra losses to 128.40
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index probes daily tops near 97.60
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold eases from near 2-week tops, focus remains on US-China trade talks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY in search of a firm direction, stuck in a range below 111.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Near term bearish below the 55-day SMA at 1.1268
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Australia: Lowest real retail growth since 2012
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 06.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Short term downtrend eroded - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar softens on wage focus; RBA and RBNZ easing eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 03.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Techs lean bearish ahead of US non-farm payrolls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Asia: Material improvement in external positions
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Technical Analysis: Falls to over 1-week lows, further slide to $1260 area now looks a distinct possibility
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -02.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar rally stalls ahead of FOMC, NFP, Trade Talks, and Earnings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Big Earnings, Rate Decisions and US GDP once markets return from holiday
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD inches higher to 0.7160, but lacks follow-through
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY frozen near 111.90 ahead of US housing data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yen ignores BOJ operation, Good Friday quiet trading to extend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD consolidates the slide near 1.1250, US retail sales eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY-18.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
Easter Trading Schedule
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD is holding steady
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Recovery towards 1.3100 on its way ahead of UK CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FX Today: Antipodeans rescued by strong China data; focus on UK/ Eurozone CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB said not to have discusses further deposit rate cuts
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Aussie trips on dovish RBA minutes; eyes on UK wages, German ZEW
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -16.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR shorts increased, GBP shorts trimmed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Managed Forex Accounts Weekly Results- April, week 15
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Softens Awaiting US Retail Sales
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD steadily climbs to session tops, aims to reclaim 1.3100 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP continues to consolidate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -12.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB: Press conference is an opportunity to inject confidence into the economy
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD continues to show signs of recovery
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -10.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 09.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Upside remains capped near 1.3070 amid Brexit stalemate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD to remain steady around the ECB meeting – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Rises on Strong US Jobs Data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold waits for US employment data near $1290
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB unlikely to provide much in terms of steps forward
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD probing daily highs near 1.1230 ahead of NFP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD: RBA and politics to keep a lid
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 04.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD upside still capped by 1.1250, ECB eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 03.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Brexit Secretary Stephen Barclay opens the door to a second referendum, GBP/USD holds high ground
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD rebounds to 1.1250 amid positive German yields, weaker USD
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Managed Forex Accounts Weekly Results
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Brexit amongst key market moving events today
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
April optimism could be key turning point for global growth
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP breaks below the 100-day SMA to fresh lows near 0.8550
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/JPY Technical Analysis: Set-up remains in favor of bearish traders ahead of UK macro data/Brexit vote
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 29.03.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK PM May's spokesman: Guaranteed way of leaving on May 22 is to win MV3 on Friday
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY finds support near 110, rebounds modestly ahead of US GDP data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 28.03.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD clings to gains near session tops, comfortable above 0.7100 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY sticks to modest gains above 110.00 handle, but lacks follow-through
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 25.03.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Recovers Fed Driven Losses on Safe-haven Flows
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s Draghi: International trade is main reason for slowdown
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE: No surprises here – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613