Softer Chinese data are probably not soft enough to de-rail the risk rally
* Asian data and news grabs overnight headlines. The Bank of Korea left rates on hold after last month’s surprise cut, and the won gained slightly. Chinese data come out slightly softer than expected as the slowdown continues. Expectations of another RRR cut will heighten. And in Australia, employment data were marginally better than expected, keeping AUD/USD around the 1.06 mark ahead of tomorrow’s monetary policy statement.
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Societe Generale