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Forex Flash: Fed loan officer survey says business US credit thawing - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that the US Fed loan officers' survey contrasts with the ECB bank lending survey, like a bottle of Sauvignon Blanc on a magical May evening contrasts with vinegar.

He comments, “It is way too nice a bank holiday in London to be distracted for long but the story was worth forwarding. Draghi sounds dovish, the risk rally tries to trundle but commodity-linked assets lag. And more than anything else, however long the soft patch lasts in the US, there is every reason to believe that its core, the economy is healing. Not going back to old normal growth rates, for sure, but healing.”

Switzerland: Foreign currency reserves down to 433.6B in April

The total value of foreign currency reserves held by the SNB fell to CHF433.6B in April from CHF438.3B in February, according to data released today by the SNB. Analysts expected less decrease to CHF435.0B.
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Forex Flash: NISA to boost toshin momentum in 2014 6 - Nomura

Nomura Strategist Yujiro Goto notes that Toshin momentum is now gradually improving, and an introduction of Japanese version of Individual Savings Account (NISA) next year can be an additional boost for toshin momentum.
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