Tag Archives: ECB
ECB Statement
7 August 2011 – Statement by the President of the ECB 1. The Governing Council of the European Central Bank (ECB) welcomes the announcements made by the governments of Italy and Spain concerning new measures and reforms in the areas of fiscal and structural policies. The Governing Council considers a decisive and swift implementation by […]
FX wrap from HK
The weekend S&P downgrade of the US saw FX markets open with the USD weaker across the board from Friday’s closing levels. EURUSD opened around 80pts higher, with EURCHF and USDCHF off almost 2 figures and USDJPY off around 130pts. The JPY and CHF pairs opened near their lows and never really looked in danger […]
Behavioral Finance: Daily Forex Outlook: ECB was unable to soothe the market
EUR/USD (1.4095) When asked in the post-meeting press conference why the ECB wasn’t actively buying eurozone bonds, President Trichet responded, “You will see what we do”, adding that he wouldn’t be surprised to see something in the market before the end of the teleconference.
ECB – bond buying, money market liquidity
ECB – Hint at bond buying and announcement of more money market liquidity (Astrid Schilo, Senior European Economist) – Bond buying programme is ongoing – Increased money market liquidity via new 6 mth tender, roll-over of 3 mth full allotment – ECB rates on hold at 1.5%, unchanged key expressions, more emphasis on growth uncertainty
FX DAILY STRATEGIST: US – 04 August 2011
• Key for EUR will be whether the ECB considers restarting SMP • Japan intervenes to weaken JPY, BOJ eases policy • A sustained USDJPY rally is unlikely given current market nervousness
Behavioral Finance: Daily Forex Outlook: US debt: the damage is already done
EUR/USD (1.4510) House Speaker John Boehner’s budget proposal was declared ‘dead on arrival’ by Senate Majority Leader Harry Reid yesterday, with most Democrats and even a few Republicans prepared to vote against it.
FT – ECB and Merkel clash over Greece
The head of the European Central Bank placed a major obstacle on the path to a new agreement on a Greek financial bail-out, saying the bank could not accept defaulted bonds as collateral, potentially cutting off fundng from the Greek banking system.
EUR/USD support ahead of auction today?
This message from Bloomie/Mackel ahead of the Italian auctions at 10am today? So we have had a warning about the US debt situation, suspected BoJ intervention and this is all before the main event this morning. All eyes will be on the Italian bond auction at 10am BST. We will be looking at the bid […]
Daily Currency Briefing: High stakes poker
G10 Currencies EUR-USD: The sell-out in EUR-USD which started yesterday morning did not continue nor did we see a stronger recovery. In the end this reflects the protracted stalemate in connection with the aid package for Greece.
Daily Forex Outlook: The Greece situation
EUR USD (1.4170) The euro suffered its largest fall in more than a month yesterday as eurozone leaders failed to come to an agreement on the shared costs of a new Greek bailout.
Daily Currency Briefing: Can Greece still be saved?
G10 Currencies EUR: The euro’s small recovery seen on the Asian markets came to an abrupt end this morning. EUR-USD collapsed from levels close to 1.42 to 1.4091. Hardly surprising.
FX DAILY STRATEGIST: US – 14 June 2011
Still strong Chinese activity data eases fears of sharp slowdown just as a RRR hike reduces fear of a more serious monetary tightening which would hurt AUD shorts. Europe headed towards deal with most closer to being on same page but beware disappointment: play EURUSD via options and look to leg into AUDCHF longs Still […]