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Analysts from Mizuho Bank, expect a slowdown in economic growth during 2019 on the back of the TRY depreciation.  Key Quotes:  “Turkey’s economic growth rate is expected to decline sharply in 2019 reflecting the Turkish lira’s plunge in summer 2018”. “The rise of inflation will squeeze real incomes, causing personal consumption to stall.” “Given the
On Wednesday, the Federal Reserve rose the Fed Funds rate and changed growth forecast. The FOMC meeting lead to lower bond yields, a weaker dollar and a global decline in equity markets, showing that investors are in the grip of a growth scare, explained analysts at BBVA.  Key Quotes:  “The FOMC projections are unambiguous: the
Next Stock Market Crash Prediction Talking Points: Does the return of volatility to equity markets suggest a stock market crash is on the horizon? The S&P 500 has climbed above the competition, but is its valuation deserved? The cases for continued growth are few, but present nonetheless If a stock market crash were to occur
Heavy dose of economic data and a government shutdown A busy day kicks off at the bottom of the hour with Canadian retail sales, the third look at Q3 US GDP, and the November preliminary durable goods orders report. Later we get eurozone consumer confidence, the Bank of Canada business outlook survey, the US PCE
   •  Risk-off mood helps the USD to recover a part of the post-FOMC downfall.   •  Bearish crude oil prices continue to undermine Loonie and remained supportive.   •  Traders now eye today’s US/Canadian macroeconomic releases for fresh impetus. The USD/CAD pair quickly reversed an early European session dip to sub-1.3500 level and climbed to fresh
TALKING POINTS – YEN, TRUMP, US GOVERNMENT SHUTDOWN, UK GDP, POUND Yen may turn higher Washington DC turmoil stokes risk aversion Possible US government shutdown threatens fragile growth outlook UK Q3 GDP revision unlikely to mean much of the British Pound Most major currencies marked time in quiet Asia Pacific trade, with markets seemingly enjoying
Forex news for Asia trading Thursday 20 December 2018 Re the FOMC: Early Asia began as markets were steadying somewhat after the response to the FOMC announcements and Powell’s presser.   The first local catalyst was the release of Q3 GDP from New Zealand which came in at a big miss indeed (0.3% q/q against
On Thursday, the Bank of Japan (BoJ) concluded its 2-day December monetary policy review meeting and left the monetary policy settings unadjusted, holding rates at -10bps while maintaining 10yr JGB yield target at 0.00%. The BoJ vote was 8 to 1, leaving its pledge to buy JGBs unchanged so that its holdings increase at an annual pace of around 80 trln yen.
USD/JPY shakes off the decision USD/JPY has been volatile since the FOMC statement and that’s continued in the aftermath. The tone of heightened risk aversion hasn’t abated but USD/JPY has benefitted from slightly higher rates at the front end, underpinned by the Fed. The pair touched 112.64, the high of the day and up 40