China's Central Bank Cuts Reserve Requirement Ratio (RRR), Spurs Risk on Trades

Market Drivers February 29, 2016 China sells off and drives USD/JPY lower but then PBOC cuts RRR EZ GE Retail Sales surprise to the upside Nikkei -1.00% Dax -1.60% Oil $32/bbl Gold $1233/oz Europe and Asia : AUD Private Sector Credit 0.5% vs. 0.5% EUR GE Retail Sales 0.7% vs. 0.3% GBP UK Mortgage Approvals 74.6K