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BCCh Traders Survey, US Jobless Claims Data Due

LATAM
  • Chile central bank traders survey will be the highlight in LatAm with no tier-one data releases scheduled. US jobless claims and Philly Fed manufacturing data will be the focus for global markets on Thursday.
  • CNH: Markets still focusing on reports that Chinese authorities told state-owned banks to step up intervention in the foreign-exchange market this week in a push to ease volatility in the yuan, according to people familiar with the matter. The sharp move lower in USDCNH has provided a broader offered tone for the greenback, prompting the likes of USDMXN and USDZAR to reverse as Thursday’s US session commences.
  • USD: The greenback staged a late rally on Wednesday ahead of the FOMC minutes, which was consolidated in the aftermath of the release which showed most Fed “participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy”.
  • US/CHINA: China’s Ministry of Commerce signalled Thursday it would respond, if needed, to the Biden administration’s executive order to restrict U.S. investments in advanced Chinese technology. China’s Ministry of Commerce has met with businesses to understand the order’s impact, spokesperson Shu Jueting said in Mandarin, translated by CNBC.
  • NORWAY: Norges Bank hiked 25 basis points to 4.0% at its August meeting with Governor Ida Wolden Bache stating that if the economy evolved as expected the next hike would come in September. The 25bp hike was widely expected although analysts were divided over if and when the Norwegian central bank would hike next.

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