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23 Apr 2013
Forex Flash: Global Risk Sentiment edges higher amid earnings optimism - OCBC Bank
FXstreet.com (Barcelona) - OCBC Bank Treasury Analysts note that global risk sentiments have continued to edge higher amid earnings optimism and market speculation of additional BoJ easing this week and ECB next.
In addition, they note that Italian’s Giorgio Napolitano was sworn in for a second 7-year term today and may start consultations for a new coalition government soon. Further, they add that even Fed’s Dudley said that “more needs to be done” as the slowdown “along with the large amount of fiscal restraint hitting the economy now, makes me more cautious” and “we have too much fiscal restraint in the short term and too little consolidation in the long term”. The positive side was the US “corporate sector is highly profitable and awash in cash” and Europe’s efforts to establish a “pan-European banking union would generate a large number of benefits”, according to Dudley.
In addition, they note that Italian’s Giorgio Napolitano was sworn in for a second 7-year term today and may start consultations for a new coalition government soon. Further, they add that even Fed’s Dudley said that “more needs to be done” as the slowdown “along with the large amount of fiscal restraint hitting the economy now, makes me more cautious” and “we have too much fiscal restraint in the short term and too little consolidation in the long term”. The positive side was the US “corporate sector is highly profitable and awash in cash” and Europe’s efforts to establish a “pan-European banking union would generate a large number of benefits”, according to Dudley.