Global Analysis

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Commodity Price Forecast - Iron Ore: Downward Revision On Cooling Chinese Demand - 22 MAY 2017

We have revised downwards our iron ore price forecast to an average of USD65/tonne in 2017 compared to USD70/tonne previously as Chinese demand for the ore is showing signs of cooling earlier than we expected. Nevertheless, government fiscal support to the infrastructure and construction sectors, despite being weaker than Q117, will ensure steel production holds up in 2017, sustaining demand...

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Market Strategy - MXN Top Pick Among EM FX - 20 FEB 2017

We think the dollar has likely topped out in broad trade-weighted terms, particularly when measured in total returns, but we do not expect a bear market to ensue. We remain fundamentally bearish on the the yuan, which is one of the main components of the USD's trade-weighted index. Weakness in the currency is likely to resume in the near term. That said, we continue to see EM FX excluding the...

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