Tag Archives: ECB
EU Considers Banning Prop Trading By Banks From 2018
The largest banks in the European Union would face a “narrowly” defined ban on proprietary trading from 2018 under draft plans by Michel Barnier, the EU’s financial services chief.
Morning Report
The markets are rather quiet in consolidative mode ahead of the weekend. DOW’s rebound lost momentum well ahead of the 16588.25 historical high and closed down -64.93 pts at 16417.01.
ECB Noyer: 2013 Marked A Key Turning Point To Eurozone Normalization
European Central Bank Governing Council member Christian Noyer said Thursday that 2013 marked a key turning point toward a “normalization” of the Eurozone,
FX: from jobs to prices
With UK and US nearing unemployment “thresholds” , inflation will become increasingly more important for currencies.
Forex Weekly Report
The Fed is heading towards a slow tapering process The release of the Fed’s minutes illustrated that the critical decision to start of the tapering stemmed primarily from an increase confidence in the strength of the US recovery.
Daily FX Wrap and Strategy
The NZD/USD trades a little lower around 0.8240 early thismorning.Overnight, all eyes were on Europe as the ECB and BoEannounced rate targets.
Euro area: ECB – dovish, but not more than in December
The ECB met widespread expectations of a fairly uneventful January Governing Council meeting. The Governing Council left key rates unchanged and by and large delivered an unchanged statement compared with the December meeting.
ECB preview: Still pressure from low inflation
Euro inflation has declined again and core inflation is at an all-time low. This addspressure on the ECB to ease further, but we expect it to refrain from cutting rates atthe meeting in January, even though it is likely to discuss a deposit cut.
ECB preview – no need for immediate action
The ECB meeting this week should be fairly calm. We expect no changes to the key monetary policy rates and no new unconventional measures to be in the pipeline.
US Morning Update
USDCAD price action was very muted during the first-half of the London session. With little in the way of key Canadian data today, we expect this to remain the case for at least the 1H of the North American session.
FX Viewpoint: taper the taper. Now.
Expectations for “taper” this week have increased…beware. USD weakness to resume. SEK could get some support on surprise “no cut”, but…
Daily FX Wrap and Strategy
Local markets will open to familiar levels for the NZD/USD, at 0.8240 this morning, after traversing inside a 0.8225/0.8325 range in offshore markets.