Risk appetite was robust with commodities, stocks and currencies (except for USD) rising sharply. Apart from Fed’s minutes revealing policymakers are moving closer to QE2, currency reserve and trade data from China signaled global demand outlook remained optimistic. Another insight from the sets of Chinese data is that currency tensions between China and advanced economies, in particular the US, would be heightened.
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Gold Above 1380 as Huge China FX Reserve Heightens Tensions
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