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Chinese, US data boosting risk sentiment – Danske Bank

FXStreet (Edinburgh) - Recent releases in the Chinese economy and the US gave extra wings to the risk appetite today.

Key Quotes

“Chinese service PMIs released this morning showed a rebound in sentiment”.

“China’s official non-manufacturing PMI rose from 54.2 in July to 54.4 in August and HSBC’s service PMI rose to 54.1 in August from 50.0 in July”.

“The combination of strong US data together with a rebound in Chinese service PMIs has boosted sentiment on Asian bourses and most regional indices trade higher this morning”.

“In addition, risk appetite is supported by speculations that Japan prime minister Abe will soon appoint a policy maker to head the health ministry (which is in charge of the Government Pension Investment Fund, GPIF), who may introduce new pension reforms forcing GPIF to shift away from Japanese government bonds towards more risky assets”.

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