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NZD/GBP to target 0.53 - Westpac

NZD/GBP’s break below a multi-month sideways range accelerated last week, after BoE officials signalled rate hikes eventually and Imre Speizer, Research Analyst at Westpac suggests that it is likely to target 0.53 multi-week.

Key Quotes

“The UK event calendar this week includes retail sales & BoE Agents’ Report (20th), Public finances (21st), CBI trends (22nd), and Brexit talks (25th).”

3 months ahead: Medium term direction depends largely on whether the uncertainty from Brexit eventually causes a slowdown in activity. If so, NZD/GBP is likely to trade in the high 0.50s by year end. Alternatively, should the economy shrug off Brexit, then NZD/GBP could test the low 0.50s.”

Canada: Manufacturing sales to fall 1.5% m/m in July - TDS

TD and the wider market both expect Canadian manufacturing sales to fall 1.5% m/m in July, building on a 1.8% decline the prior month. Key Quotes “N
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China: Central bank looking at opening up the financial sector to foreign investors - Rabobank

According to ‘people familiar with the matter’, the Chinese central bank is looking at opening up the financial sector to foreign investors, notes the
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