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Equities gain on more Chinese stimulus, sterling under pressure ahead of production and trade data


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Asian equities kicked off the week on a positive note as lower-than-expected jobs report in the US consolidated the dovish Federal Reserve (Fed) expectations and the Peoples Bank of China (PBoC) announced more monetary stimulus amid countrys exports fell 1% in USD terms in August as a result of the escalating trade war with the US. Chinese exports toward the US tanked 16%. Chinese officials took additional stimulus measures as data started looking uglier. In addition to 50-basis-point nationwide RRR cut revealed earlier, the PBoC delivered 100-basis-point targeted cut for regional banks. The PBoCs determination to fight the economic slowdown encouraged investors to buy stocks on Monday open, but gains remained timid.

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Pound gains as Tories fall apart under Johnsons leadership, but data could hammer short-term gains.

Read the full LCG report

https://www.lcg.com/int/analysis-education/market-reports/articles/equities-gain-on-chinese-stimulus-gbp-worried-ahead-of-production-data/

Opening calls

FTSE to open 25 points higher at 7307

DAX to open 20 points higher at 12212



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Ipek Ozkardeskaya is a senior analyst at MBAex with a solid experience in the financial industry. She has strong technical background in economics and quantitative finance. Previously, she worked as a senior market analyst in London Capital Group, FX strategist in Swissquote Bank and as a client sales executive at HSBC Private Bank in Geneva. She also developed quantitative models in automatic trading as part of BCV’s Structured Products team. Ipek has a Master’s degree in Financial Engineering & Risk Management and a Bachelor degree in Economics from University of Lausanne.
 
Contributing  author since 11/09/2017

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