Tag Archives: ECB
Pretty Much Improvement
Today’s Euro-zone PMI data and the ECB lending survey provided fresh evidence the area is making good progress in finally defeating recession.
Fed tapering not on ‘preset course’
US: Fed Chairman Bernanke emphasised that the Fed’s QE programmes were ‘by no means on a preset course’,
European Strategy and Trades
We summarise the main changes to the ECB collateral framework, which show a clear bias towards easing rules for ABS.
FX Daily
Market movers today • The calendar is somewhat lightweight with UK industrial production figures the key event.
FX Daily
Focus today will be on markets digesting Friday’s strong payrolls out of the US in light of what this means for Fed tapering its quantitative easing (QE) programme.
FX Comment: green shots
“The whole management of the domestic economy depends on being free to have the appropriate rate of interest without reference to the rates prevailing elsewhere in the world.” (Keynes)
Soft forward guidance from the ECB
The ECB left key interest rates unchanged as widely expected. In the press statement,
Draghi says ECB will keep interest rate low for an extended period of time
Following the hold of the ECB to the interest rate at its record low of 0.50 percent today,
US Morning Update
Major overnight headlines: • UK Halifax House Price Index rises 3.7% YoY in 3 months to June, more than expected
Euro crisis escalation?
Possible government collapse in Portugal rattles markets A political crisis in a southern European country, anti-austerity protests, a surge in its government bond yields,
The Global Macro Pulse
A quiet session in Asia ahead of the ECB meeting and US holiday. We observed some risk reductions in rates, but FX and equity were mostly rangebound.
FX Daily Strategist: Europe
ECB, rather than Portugal, is the main threat to the EUR With the US markets closed for Independence Day holiday today, the focus shifts to ECB and BOE meeting.