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Hahahahahahahaha……………..look at what the CNY PMI and the US has done to the AUD.  I honestly did not expect the AUD to weaken today the way it did.

You know what?  I should have seen this coming if I had the time to look at the charts.  Yesterday, the AUD fell by 100bps and this morning when I woke up it was a t 0.9225.  Thank you Mario Draghi and the rumours floating about regarding the possibility of negative interest rates.

Well., guess what?  Draghi just came out to comment that ‘people should not speculate that the ECB will implement negative interest rates’, the EUIR strengthened about 40bps to 1.3462.

Think about it for a moment, is there really a need for ECB to implement negative interest rates when it has an arsenal of other monetary policies available to implement and let’s not forget also fiscal policies.

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