23 Jul 2013
Flash: Global activity in spot light - BAML
FXstreet.com (London) - Tomos Rhys Edwards, Senior Vice President, Communications and Media Relations, BofA Merrill Lynch Global Research was discussing key activity for China, Taiwan and Brazil.
Key Quotes:
“China banks' FX purchase position declined by RMB41bn (or US$6.7bn) in June after rising RMB67bn in May”
“Taiwan's export orders contracted 3.5% yoy in June after dropping 0.4% in May, surprising the market and us on the downside”.
“In Brazil, Finance Minister Guido Mantega announced a plan to cut the budget by BRL10bn. In Chile, BCCh board member Joaquin Vial said the central bank will cut rates if consumption slows down”.
Key Quotes:
“China banks' FX purchase position declined by RMB41bn (or US$6.7bn) in June after rising RMB67bn in May”
“Taiwan's export orders contracted 3.5% yoy in June after dropping 0.4% in May, surprising the market and us on the downside”.
“In Brazil, Finance Minister Guido Mantega announced a plan to cut the budget by BRL10bn. In Chile, BCCh board member Joaquin Vial said the central bank will cut rates if consumption slows down”.