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      Markets down: China did it again – Swissquote

      FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote, notes that once again, China printed disappointing PMI figures which led to fall in global markets especially Asia.

      Key Quotes

      “The Caixin flash manufacturing PMI fell to 47 in September, the lowest reading since early 2009, and well below market expectations of 47.5 from 47.3 the previous month.”

      “Last week, the Fed emphasized that it was monitoring developments in emerging economies, meaning that bad news from those countries will likely spill over into developed markets.”

      “Asian regional equity markets are suffering a heavy sell-off this morning, following Wall Street’s lead and reacting to weak data from China. The Shanghai Composite fell -2.27% while its tech-heavy counterpart, the Shenzhen Composite edged lower by -2.27%. In Hong Kong, the Hang Seng was the biggest loser as it dropped -2.91%.”

      EUR: Volkswagen's emissions saga upsetting currency markets mood - Investec

      Research team at Investec, suggest that the recent Volkswagen’s emissions problem has taken the global currency markets for a ride with Euro taking a beating against both, the dollar and yen.
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      Eurozone PMI and German PMI: Light at the end of tunnel - ING

      Teunis Brosens, Research Analyst at ING, suggests that a slowdown in emerging markets will hit Eurozone exports sooner or later. But for now, new orders are at a five month high, boding well for Eurozone business activities in the months ahead. Draghi may not need to make good on his promise to expand or extend QE when necessary just yet.
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