South Korea keeps base rate unchanged at 2%
Indian economic growth slowed to 6% in Q4
Not much attention was paid to the Indian economy in years past but that is all changing as the big emerging markets take on more importance. GDP was +6% in Q4 down from +7.9% in Q3.
Have a great weekend.
Turkish Lira slumps on political turmoil
There’s a lot of bad news creeping into the marketplace and aiding the risk aversion mood. Political turmoil in Turkey has seen the TRL slump this week.
One more risk event to keep note of
The Turkish president will meet with military leaders tomorrow morning amid allegations a coup plot is afoot.
A contentious outcome could raise risk aversion…
South Korea leaves rates unchanged at 2%
In their comments they refer to the ongoing uncertainties in the EU and also regarding economic growth. Steady as she goes for the moment.
Your dong ain’t what it used to be…
Vietnam has devalued the dong 3.36% to 18,544 per dollar.
What did you think I was talking about?
Auto sales slide in Brazil
Hey, I thought the BRICs were white hot and set to leap-frog the US and become world powers by Wednesday. If so, why did Brazilian car sales fall 27% in January?
Maybe trees really don’t grow to the sky after all…
Goldman recommends Brazilian real longs
The real has been easing in recent sessions as a result of the wave of risk aversion spawned by China’s liquidity tightening and signs that the recoveries of the developed economies are beginning to cool.
Goldman Sachs recommends taking advantage of BRL weakness to build long positions.
USD/BRL trades at 1.8800 at the moment, compared to 1.7150 early in January.
South Korean CPI +3.1% YoY
The figure is slightly lower than forecast but still the highest monthly increase in 9 months.
South Korea Manufacturing PMI 55.6
This is the highest reading in over 2 years and is another indicator of the continued strength of the South Korean economy.

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