In
Europe, the IMF dropped the Irish GDP forecast to 1.1% and the Bundesbank points
to downside risks of the 1.8% growth forecast in Germany. The Euro has extended
its weakening against the US Dollar after the US closing bell in the back of
news from APPL missing dividends estimates and news from Europe on Greece
needs an additional €30 billion thru 2016.
The Aussie dollar started a rally early Wednesday morning that
instigated with the surprise showing from 3Q CPI figures. The 2.0 per cent pace
it does remove some pressure for aggressive cuts.
The
Chinese PMI figures which printed better than expected but were 12 months into a
reductionary phase. The
UK Q3 GDP came much stronger-than-expected at 1% versus 0.6%.
AUD/JPY
is set to print gains for a third straight week, with traders observing for the
Bank of Japan to increase its current 90 trillion Yen QE program by another 10
trillion Yen next week, according to the latest Japanese press reports.
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