UEUR - Dollar Remains Firms As China Cuts Growth Target And Taxes While EMU PMI Surprises On Upside
Overview: It is an eventful day, but the capital markets are taking it in stride. Equity markets are mixed. Asia may have been weighed down by China's shaving its growth target and announced around CNY2 trillion (~$300 bln) in tax cuts to support the economy, though Chinese stocks edged higher. India was the other major market to rise in Asia and this despite the US giving 60-day notice that its preferential trade treatment would end due to the lack of sufficient reciprocity. Turkey is also going to have this privilege removed, but in its case,