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CAD: Justin Trudeau’s Liberal Party won surprise majority elections - BBH

FXStreet (Delhi) – Research Team at BBH, note that with 99% of polls reporting, the Liberals were elected or leading in 184 of the 338 seats in the House of Commons, with the Conservatives on pace to take 99 and the New Democratic Party 44.

Key Quotes

“Note that the Canadian dollar was sold ahead of the election results amid reports of the likelihood of a minority Liberal govt. Now the Liberals have won a majority. The Conservatives have been in power for almost a decade.”

“The Liberals platform is a moderate anti-austerity stance – more infrastructure spending and middle class tax cuts. Trudeau is projecting a somewhat larger budget deficit and higher taxes on wage income of more than C$200k. He wants to pull in from Harper-led military participation in Syria and Iraq. He will cancel the purchases of F-35 fighter planes.”

Eurozone: Business lending spotted as weak spot in Bank lending survey - ING

Teunis Brosens, Research Analyst at ING, notes that the the ECB Bank Lending survey shows that the upward trend in Eurozone credit continued steadily in the third quarter with business lending being the weak spot.
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Brazil’s COPOM Preview: Rates likely to be on hold - BBH

Research Team at BBH, suggest that markets are unanimous in calling for the COPOM to keep rates on hold at 14.25% this Wednesday, so the tone of the statement will be the focus.
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