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Need for more expansive fiscal policy – ECB’s Nowotny

FXStreet (Mumbai) - The European Central Bank (ECB) member Edwald Nowotny was on the wires today stating that there may be a need for a more expansive fiscal policy across the Eurozone.

His comments are in line with the view shared by other ECB members that fiscal reform is necessary to support the monetary policy.

Over the weekend, Nowotny said it was too early to talk about the QE extension, although markets send German yields to near two week lows on Friday on speculation the ECB may hint at a QE expansion/extension this Thursday.

Services propel Chinese growth, but industry continuing to soften - NAB

Gerard Burg, Senior Economist at National Australia Bank, notes that China’s latest national accounts data showed a slowing trend for China’s economy in the September quarter – with gross domestic product rising by 6.9% yoy – falling below the annual growth target for the first time this year.
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NZDUSD bullish with 0.7175 in sight – Westpac

Imre Speizer, Senior Markets Strategist at Westpac, suggests that he remain bullish over a one-month horizon, targeting 0.7175 (which was the 3 Feb low). Any corrective pullbacks should be contained by 0.6740.
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