Norges Bank 25bp rate cut and an easing bias could move EUR/NOK higher
Sep 21, 2015 15:08 pm UTC| Commentary
The current rate path from Norges Bank has a 68% implied probability of another 25bp rate cut and a 61% probability of a 25bp rate cut already at the 24 September meeting. We expect a 25bp rate cut at the 24 September...
Spain's catalan elections likely to prompt greater uncertainty but not independence
Sep 21, 2015 14:40 pm UTC| Commentary
The regional election in Catalonia on Sunday 27 September is considered by the pro-independence parties as the first step towards a gradual process that will ultimately lead to independence within 18 months. Most recent...
Gold in demand due to high risk aversion
Sep 21, 2015 09:16 am UTC| Commentary
Gold showed itself to be solid as a rock last Friday in a market environment characterized by high levels of risk aversion and rose in price to a good $1,140 per troy ounce, a level at which it is still trading this...
Oil market likely to remain under external factors' influence
Sep 21, 2015 09:13 am UTC| Commentary
Oil prices remain highly prone to fluctuation. Following their massive losses on Friday, they have risen by around 1.5% again today despite weaker equity markets."In the absence of any clear trend, the oil market is likely...
Sweden bill unchanged despite tax hikes
Sep 21, 2015 08:54 am UTC| Commentary
There were no major surprises in the 2016 Budget Bill as most of the content was already known. Tax revenues will increase by about SEK 33bn in 2016, while reforms amount to SEK 45bn. Nevertheless, the government...
PBoC orders banks to tighten supervision on clients’ FX deals
Sep 21, 2015 07:08 am UTC| Commentary Central Banks
Local media reported that PBoC orders banks to tighten supervision of their clients FX deals. Fees for some banks to settle clients FX deals in domestic market raised to as high as 0.3% (vs 0.002%-0.003% for most banks),...
Return of veteran economic policymakers helps lira sentiment
Sep 21, 2015 07:05 am UTC| Commentary
The lira continued its rally last week, strengthened by the dovish Fed guidance, with the TRY basket (50:50 USD:EUR) ending 2% stronger than the beginning of the week.This comes as no surprise, as TRY was a strong...
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