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SNB's Jordan warns of negative implication on a 'Yes' vote

FXStreet (Bali) - The chairman of the SNB, Thomas Jordan, reiterated over the weekend, the Central Bank's opposition to a 'Gold referendum', intendeed to prevent the selling of gold holdings, ahead of a vote on Nov 30th.

As Reuters reports: "Higher gold holdings would escalate costs for the SNB and impair its ability to intervene freely in the currency market", with the news organization citing SNB Chairman Thomas Jordan as saying that "the initiative is dangerous because it would weaken the SNB."

Jordan added that "the connection between a minimum share and a ban on selling which it embraces would very greatly restrict our monetary policy room for maneuver..."

ECB's Constancio: Europe not at risk of full deflation cycle

ECB Vice President Vitor Constancio, said on Saturday that while Europe is not at risk of entering a "full deflation" cycle, the current rate of inflation is dangerously low, Reuters reports.
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China rate cut to stabilise sentiment towards AUD - Westpac

According to Jonathan Cavenagh, FX Strategist at Westpac, analyzes the market implications from China’s rate cut announcement last Friday, noting that it should help stabilise sentiment towards commodity currencies within the region, adding that the safest way to play the likes of AUD and MYR is likely to be against EUR and JPY rather than against the USD.
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