Tag Archives: ECB
US Morning Update
Major Overnight Headlines • BoJ on hold, Nikkei falls, JPY rises as Kuroda says will take “appropriate action” if needed,
The Global Macro Pulse
USDJPY continued to fall, testing a low of 97.09 today and driving cross JPY through technical levels.
Lower inflation to keep ECB rates at current or lower levels for two years
• According to ECB president Mario Draghi, ‘the Governing Council expects rates to remain at present or lower levels for an extended period of time’.
Non‑farm payrolls to round off a bumper week
All eyes turn to the US labour market report to round off the week. Consensus expectations are for a decent 185k jobs gain. But this would be below readings for the past 3 months.
FX Daily
Market movers today • ECB will announce the weekly repayment of the 3Y LTRO, which is likely to attract attention as excess liquidity continues to fall towards the EUR200bn mark.
Draghi: Expect Key Rates at Current or Lower Levels for Extended Period
Following the hold of the European central Bank to the interest rate at its record low of 0.50 percent today,
Daily FX Update
ECB & BOE ON HOLD; DRAGHI TO RETAIN DOVISH TONE • USD is strong after the FOMC made only minor changes, China’s PMI is strong at 50.3;
ECB Leaves Refi Rate Unchanged At 0.50%
The European Central held interest rates for the third month running in August amid signs the euro area is getting out of recession.
The Global Macro Pulse
A surprise rise in China’s official PMI to 50.3 in July from 50.1 in June has pushed Asian equity markets higher.
FX Daily Strategist: Europe
Another ECB pivot could support EUR, for now The improvement in European economic data has been consistent with the European Central Bank’s forecast for a gradual growth pick-up;
ECB and BoE centre stage, FOMC meeting a non‑event
All eyes turn to BoE and ECB meetings today. No change to policy is expected from either. But a dove-ish statement and press conference should follow the respective meetings.