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9 Sep 2013
Flash: Priced in, USD – TD Securities
FXstreet.com (London) - Research teams at TD Securities noted the markets positioning for tapering.
Key Quotes:
"The market appears to be fully priced for the Fed’s tapering announcement, but there remain uncertainties over its size and duration".
"These risks continue to have profound effects on EM assets, as seen in the EMFX rally after the soft non-farm payrolls print on Friday".
"Focus this week will shift to Syria and EU politics".
"Markets now enter a post-payrolls vacuum, giving investors a chance to reassess their positions a week before the crucial FOMC meeting".
"For us it’s a chance to review our central bank rates and FX forecasts, and try to identify potential gainers and losers. Most of our views now include weaker EMFX, at least in the short term".
Key Quotes:
"The market appears to be fully priced for the Fed’s tapering announcement, but there remain uncertainties over its size and duration".
"These risks continue to have profound effects on EM assets, as seen in the EMFX rally after the soft non-farm payrolls print on Friday".
"Focus this week will shift to Syria and EU politics".
"Markets now enter a post-payrolls vacuum, giving investors a chance to reassess their positions a week before the crucial FOMC meeting".
"For us it’s a chance to review our central bank rates and FX forecasts, and try to identify potential gainers and losers. Most of our views now include weaker EMFX, at least in the short term".