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Forex Flash: CHF Real flows remain very strong – Nomura

FXstreet.com (Barcelona) -Since the end of March, EUR/CHF has remained quiet and primarily range bound between 1.2230 and 1.2130. In recent months the pair has seemed to lack a major catalyst, and is now again drifting against the upper end of the range

According to Geoffrey Kendrick of Nomura, “Detailed data released by the SNB today showed continued buying of CHF related to bank flows (on both side of their balance sheets). Indeed, these data showed that for both January and February non-resident deposits in Swiss banks in CHF continued to increase (to now reach CHF136bn since the start of 2008).

He went on to add, “The second reason the Swiss franc remains strong is the continued CHF10bn a month current account surplus. In summary we estimate a positive basic balance of CHF33bn in Q2, and expect EUR/CHF to remain close to the floor for some time

Moody's: BoJ easing will have credit negative effects on Japanese life insurers - Moody's

On the back of the aggressive monetary-easing measures announced by the Bank of Japan earlier this month, with lower long-term interest rates being targeted, the action "will have several credit negative effects on Japanese life insurers" said Moody's Japan K.K. in an official statement earlier on April 22.
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Forex Flash: China HSBC PMI, risks of a surprise evenly balanced - Westpac

The “flash” April China’s Manuf PMI will increase volatility to day in Asia, depending on the number out. According to Sean Callow, strategist at Westpac, "consensus is for 51.5, effectively steady versus the final Mar reading of 51.6."
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