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EUR/USD: Overshoot; Technicals Point To A Tactical Retracement; Levels & Targets – Barclays

August 24, 2017 Yohay Elam 0

EUR/USD is drifting higher, but in a relatively narrow range. Has it gone too far? Here is the view from Barclays: Here is their view, courtesy of eFXnews: Barclays Capital FX Strategy Research argues that EUR/USD has likely overshot and expects monetary policy divergence to remain an important element for a tactical retracement. Barclays also notes […]

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Moody’s: Australian covered bond credit quality robust despite housing market risks

August 24, 2017 Eamonn Sheridan 0

The latest from Moody’s on Australia, Headlines via Reuters:

Aside from the credit questions this: “very high, rising household indebtedness”
is a concern for the RBA insofar as it is weighing on household spending and therefore, perhaps, economic growth.         

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China’s Xi pledges to properly address differences with S.Korea — Xinhua

August 24, 2017 rbksa 0
Author: 
Reuters
Thu, 2017-08-24 05:06
ID: 
1503541714678478300

BEIJING: China’s President Xi Jinping pledged to make concerted efforts with South Korea’s President Moon Jae-in to address differences between the two countries properly, the official Xinhua news agency said on Thursday.
“Xi made the remarks in a congratulatory message sent to Moon on the 25th anniversary of the establishment of China-South Korea diplomatic relations,” Xinhua said.
Development of China-South Korea relations makes a positive contribution to regional peace and development, Xinhua cited Xi as saying. The news agency did not provide further details.
South Korea and the United States agreed to deploy the Terminal High-Altitude Area Defense anti-missile system in response to the growing missile threat from North Korea.
However, the move has angered China, which says the system’s powerful radar will look deep into its territory and undermine regional security.
China has pressured South Korean businesses through boycotts and bans, such as ending Chinese group tours to South Korea and closing most of South Korean conglomerate Lotte Group’s Lotte Mart retail stores in China.
Moon has also pushed China, North Korea’s most important ally and trading partner, to do more to rein in Pyongyang’s missile and nuclear weapons programs.
North Korea has conducted two nuclear tests and dozens of missile tests since the beginning of last year, significantly raising tension on the heavily militarised Korean peninsula and in defiance of UN Security Council resolutions. Two intercontinental ballistic missile tests in July resulted in a new round of tougher global sanctions.

Main category: 
related_nodes: 
North American exodus at PetroChina sparks speculation of company shift
US, S. Korea begin military exercises
China-US train plan chugs along

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How ’bout this for an early wrap? “The dollar inched higher on Thursday”

August 24, 2017 Eamonn Sheridan 0

I’ll post the Asia session wrap a little later, but Reuters are on it already:
In brief:
– The dollar inched higher on Thursday, paring some of the losses it suffered after U.S. President Donald Trump suggested a shutdown of the government was possible…

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