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Forex Flash: Chinese Property prices rose strongly in March - Nomura

FXstreet.com (Barcelona) - Nomura economist Zhiwei Zhang notes that Chinese property prices rose strongly in March.

He sees that prices in 70 cities rose by 3.1% y-o-y in March from 1.7% in February, the strongest growth since September 2011. Among the 70 cities, 68 cities saw a month on-month rise in property prices in March (February: 66 cities), while property prices fell only in one city. More notably, property prices grew at 1.0% m-o-m in February and March, implying annualized growth of 12.7%, which is faster than the 9.3% y-o-y growth of urban household income in Q1 2013. He believes that the sharp rise in property prices suggests that central government will push for policy tightening in this sector in Q2, and property investment growth faces downside pressures in the coming quarter, which will likely contribute to the GDP growth slowdown.

Forex Flash: USD/JPY looks neutral ahead - OCBC Bank

Emmanuel Ng of OCBC Bank is remaining neutral on USD/JPY at this juncture in light of the background nervousness in the markets.
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Forex: USD/CHF falls to within sight of 0.9300 barrier

The USD/CHF has slid back to within sight of the 0.9300 barrier following the SNB Governor Board Member Zurbrugg Speech Thursday. The pair is trading negatively, down -0.20% during European trading, and in these moments the cross has settled at 0.9309/11.
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