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Flash: Soft Inflation led to Australian rate cuts - Societe Generale

FXstreet.com (Barcelona) - Societe Generale Strategist, Alvin T. Tan notes that in the May 7 meeting minutes, the Reserve Bank of Australia cited a softer-than expected inflation outlook to permit it to cut the cash rate to a record low, as it seeks to boost underperforming sectors of the economy.

However, he notes that there was no indication in the minutes as to whether more cuts are forthcoming. Elsewhere, he notes that NZD meanwhile continued to recover despite the fact that NZ 1-yr and 2-yr inflation expectations fell to a post- 2000 low, according to the RBNZ this morning in its survey of business managers. He writes, “NZD continues to be a favourite of yield-seekers.”

Flash: Retail investors net buyers of FX - Nomura

Yujiro Goto of Nomura research teams noted that retail investors were net buyers of foreign currencies via currency selection-type toshins last week.
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Flash: UK Inflation ready to rise reticently - Nomura

Nomura economist Philip Rush notes that surprisingly soft inflation in April lowers the level of his short-term forecast.
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