It's A Busy Night: Here's What's Moving Markets Right Now

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Photo: Wikimedia common

Kind of an interesting morning in Asia, with some notable global macro headlines.Will bullet the key ideas.

  • The tone is “risk on” moderately. Japan is up 0.5%. Australia is up 0.2%. Korea is up 1.05%.
  • Reports that QEIII is now on the table at the Fed is seen as giving markets a boost. It’s also weakening the dollar against all the other big currencies.
  • Chicago Fed President Charles Evans is calling for more easing. He’s a major dove, so that’s not a huge shock.
  • Moody’s has downgraded Australian and German banks. Deutsche Bank is spared for now.
  • The influential China Securities Journal is calling for more rate cuts in China, according to Bloomberg.

Bottom line: Modest risk on, dollar weaker.

All eyes on the ECB tomorrow morning.

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