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Flash: Fed taping to commence in autumn - TD Securities

FXstreet.com (London) - In a report written by Cristian Maggio at TD securities in rates and FX Research, they said that they continue to expect that the Fed will start tapering QE in autumn, but monetary tightening in the US remains more than a couple of years ahead.

In the meantime, they feel that a realization in QE may start to be tightened sooner than expected creates headwinds for both stocks and bonds over the near-term, which also has heavy implications in EMFX terms, but the data mix continues to suggest that the Fed cannot pull back anytime soon. So, they expect the Fed to reduce the rate of Large Scale Asset Programme as soon as in September and, if inflation and growth allow, ending those purchases in early 2014. But they don’t expect the Fed to raise rates before late 2015.

EUR/SEK in lows after better PMI

The improvement of the manufacturing PMI print in Sweden during May is giving extra impulse to the krona, partially trimming last Friday’s losses...
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ECB's Draghi: OMT plan helped calm financial markets

ECB head Mario Draghi, who appeared at the International Monetary Conference in Shanghai on Sunday, said in a prepared speech that he expected the Eurozone to recover gradually in the second half of the year, as a result of the introduction of the OMT program in 2012 and thanks to the the increasing foreign demand.
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