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Forex Flash: Chinese Premier acknowledges limited room for policy easing - Nomura

FXstreet.com (Barcelona) - Nomura economist Zhiwei Zhang notes that Premier Li said in a State Council meeting that the government cannot rely on expansionary policy to achieve its growth target as room for policy easing is limited, according to the Shanghai Securities Journal today.

Zhang notes that he said that the government should trust the market economy to be capable to correct the cyclical movement by itself, and that government intervention may lead to unintended consequences. Further, he adds that Premier Li's comments reinforce his view that policy easing is unlikely, at least in Q2, and that growth will likely trend down to 7.5% in Q2 and 7.3% in H2, while consensus expects a recovery in Q2 to 8%.

Switzerland: Producer and Import Prices grow 0.2% in April

Swiss Producer and Import Prices rose by 0.2% in April, after remaining unchanged in March, the Federal Statistical Office reported today. Market consensus pointed to a 0.1% drop.
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Forex: NZD/USD hits session lots at 0.8174/80

The NZD/USD has erased its daily gains, entrenching itself in negative territory and establishing fresh session lows in these moments at the 0.8174/80. After yesterday’s risk-off movement, antipodean currencies have faced headwinds on a USD recovery this week. At the time of writing, the cross now finds itself -0.16% off its opening during European trading.
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