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What To Expect From The ECB

Submitted by RanSquawk ECB Monetary Policy Decision Due At 12:45 GMT, 13:45 CET, 07:45 EDT, On Thursday 14th December 2017, Press Conference Due At 13:30 GMT, 14:30 CET, 08:30 EDT Unanimous expectations look for the ECB to leave its three key rates unchanged.  As a reminder October’s announcement revealed that the Bank will be trimming […]

“Not Our Fault” – ECB Says “Fake Data” Is To Blame For The Coming “Manias And Panics”

In the days ahead of China’s Communist Party Congress last month, which culminated with the crowning of Xi Jinping as the modern equivalent of a quasi-emperor, China’s securities watchdog made it clear to local companies that bad news would not be tolerated, and “advised” loss-making companies to avoid publishing quarterly results as authorities were desperate […]

Is There Any Way Out Of The ECB’s Trap?

Authored by Daniel Lacalle via The Mises Institute, The ECB faces the Devil’s Alternative that Frederick Forsyth mentioned in one of his books. All options are potentially risky. Mario Draghi knows that maintaining the so-called stimuli involves more risks than benefits, but also knows that eliminating them could make the eurozone deck of cards collapse. Despite the […]

Why For Euro Bulls The Pain Is Only Just Starting

Judging by the 200 pip tumble since the ECB’s meeting on Thursday, the EURUSD was at 1.1614 moments ago, the unexpectedly dovish taper clearly surprised many, and attention has fallen on the open-ended nature of the operation as the focus of that surprise. And speaking of said “open-ended” taper, overnight Boersen-Zeitung reported that Bundesbank President […]

Global Stocks Jump Among Earnings Bonanza; Nikkei Closes Above 22,000 For First Time In 21 Years

US equity futures are higher, boosted by a bevy of better than expected earnings out of tech giants Amazon, Intel and Microsoft as Asian stocks and European shares climb amid the dovish sentiment unleashed from Thursday’s ECB update. Asian equities rose as investors bid stocks following strong corporate results from India to Japan. The MSCI […]

ECB Minutes Are A Dud, Fail To Excite Markets

For all the excitement surrounding today’s ECB minutes release, they turned out to be a dud, with the EURUSD failing to move even 10 pips, and Bund yields largely unchanged. Contrary to expectations, the minutes did not disclose anything new, instead echoing what Peter Praet said on Monday. Of note, the minutes revealed that ECB […]

Spain Rebounds, Pound Tumbles In Quiet Session Ahead Of ECB Minutes, Fed Speakers

Global markets came off record highs, trading subdued, with US index futures unchanged as traders are unwilling to make major moves ahead of today’s ECB minutes and tomorrow’s NFP release, and before speeches by central bankers including SF Fed President John Williams and the potential next Fed chair Jerome Powell, as well as ECB executive […]

Euro Tumbles On Report ECB Is “Concerned And Divided” Over End To QE

Talk ’em up, then slam ’em down. The familiar pattern of “clear and transparent” central bank communication was on full display moments ago, when following months of build up to an ECB taper announcement, the ECB used its favorite mouthpiece, Reuters, to “trial balloon” that an ECB decision over whether to announce a firm end-date […]

Weekend Reading: The “Real” Vampire Squid

Authored by Lance Roberts via RealInvestmentAdvice.com, First, it was Hurricane “Harvey” and an expected $180 billion in damages to the Texas coastline. Now, “Irma” is speeding her way to the Florida coastline dragging “Jose” in her wake. Those two hurricanes, depending on where they land will send damages higher by another $100 billion or more […]

Euro Tumbles, Bunds Spike On Report ECB “Growing Worried” About Strong Currency

It’s time to start worrying about currency wars again. Moments ago, with the EURUSD trading just shy of 1.19 and having risen above the “red line in the sand for corporate profits” 1.20 mark earlier in the week, the ECB again used its favorite trial balloon news service, Reuters, to suggest that not only is […]