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Minutes of BoJ policy: Signals favourable domestic economic assessment - Rabobank

FXStreet (Delhi) – Jane Foley, Reseatch Analyst at Rabobank, notes that the minutes of the BoJ’s September policy meeting repeat the fairly favourable domestic economic assessment which was evident in last week’s publication on the Monthly Report of Recent Economic and Financial Developments.

Key Quotes

“The BoJ reports that labour market conditions continue to improve and employee income had risen moderately. Both reports also refer to the ‘marked’ improvement in corporate profits. While the slowdown in emerging markets is linked with a flat performance in industrial production, the tone of these reports is not consistent with a central bank chomping at the bit to increase the amount of policy stimulus.”

“While we expect that the BoJ will have to ease further this cycle, there is risk that the October 30 policy meeting may bring a disappointment for JPY bears.”

China sees bounce in export numbers in September - ING

Tim Condon, Chief Economist at ING, notes that the big sequential trade bounces lend credence to the view the July-August financial market turmoil caused activity to be postponed, not to spiral as September’s -3.7% YoY export growth was better than expected and up from August’s - 5.5% (consensus -6.0%).
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USD/CAD eases-off highs, near 1.3060

After bottoming out near 1.29 handle on Monday, the USD/CAD pair staged a solid-comeback and leaps beyond 1.3050 levels on Tuesday, with the oil prices emerging the main catalyst behind the move.
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