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US manufacturing PMI and Lockhart in focus – BBH

FXStreet (Delhi) – Research Team at BBH, suggest that today’s North American session will feature US Markit manufacturing PMI and another speech by the Fed’s Lockhart.

Key Quotes

“Lockhart spoke earlier this week and is one of the 13 (out of 17) Fed officials that recognize that a hike this year is still appropriate. Yellen speaks tomorrow at Amherst College, and it is her first public appearance since last week’s FOMC meeting.”

EUR & JPY: Euro-zone & Japan to be hit by auto sector - MUFG

Derek Halpenny, Research Analyst at MUFG, notes that the fallout from the emissions scandal at Volkswagon clearly has the potential to escalate to other companies and if 11mn Volkswagon vehicles are estimated to have been impacted by this, it is difficult to envisage a scenario where not one other company will get caught up in this scandal. If Volkswagon knew how to cheat the emissions test, it seems reasonable to assume that other companies knew too.
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EUR: Draghi in spotlight as EUR recovers despite weak Chinese PMI - MUFG

Derek Halpenny, Research Analyst at MUFG, notes that all Asian equity markets closed lower today with weak data from China and continued investor concern over the potential fallout for the auto sector from the emissions crisis hitting Volkswagon concerning investors. However, Euro is on firm ground and the stability today is more akin to the safe-haven characteristics that the euro has been showing since financial market volatility escalated earlier this year.
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