The ECB sees prolonged period of low inflation and will continue LTROs into 2015 November 7, 2013 European Central Bank (ECB) president Mario Draghi has spoken this afternoon about the ECB's decision to cut its main interest rate from 0.5 per cent to 0.25 per cent. He said that the committee unanimously agreed they needed to act, but there was disagreement as to when. The committee, he said, judged significant inflation changes [...]
Will the ECB do anything helpful today? November 7, 2013 In just over an hour, European Central Bank (ECB) president Mario Draghi will speak on the back of the ECB's rate decision, against a background of weak demand and falling prices across the euro area. Michael van Dulken of Accendo Markets says that there is "much uncertainty" as to whether the ECB will "offer anything [...]
What you need to know before the open – 07/11 November 7, 2013 A couple of things of note today. We've got US GDP and, at the same time, European Central Bank president Mario Draghi will be speaking. The press conference will be interesting in terms of what Draghi has to say, after the mounting speculation as to whether the bank will cut rates today or hold off [...]
Surprise fall in retail sales show Eurozone consumers are still cautious November 6, 2013 Eurozone retail sales suffered a surprise fall of 0.6 per cent month-on-month in September, after a rise of 0.5 per cent in August. A poll of analysts conducted by Reuters had expected a decline of 0.4 per cent. IHS Global Insight's Howard Archer comments that, despite a recent firming in retail sales (they rose 0.6 [...]
What you need to know before the open – 05/11 November 5, 2013 We should see another positive start this morning after the Fed's James Bullard did very little to raise expectations of an imminent taper for the US yesterday. Cable $1.5968, €/$1.3498, $/¥98.43 – Gold – $1315.33 – Nymex -$94.73, Brent $106.38 – European opening calls – FTSE +17, DAX +10, CAC +5 — David Buik (@truemagic68) [...]
New York Report: Blackberry hits a 10-year-low with new boss November 4, 2013 US STOCK indexes were little changed yesterday in belowaverage trading volume, while shares of Blackberry plummeted to a 10-year low after the company replaced its chief executive. US-listed shares of Blackberry tumbled 17.2 per cent to $6.43 a share after the smartphone maker said it was abandoning a plan to sell itself. With yesterday’s drop, [...]
DailyFX: Analyst picks November 4, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Selling rallies in euro-dollar and sterling-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The US dollar has strengthened over the past few days on the back of steadily rising Treasury yields. The yield curve has exhibited signs of repricing [...]
Fitness Expert: Ways to burn calories on your fasting days November 4, 2013 THERE’S a good chance you’ve either tried, or know someone that’s trying, the 5:2 diet. It’s relatively simple, doesn’t involve cutting out a bunch of your favourite foods, and is extremely effective as far as weight loss is concerned. But where and how does exercise fit in? Is it okay to work out on fasting [...]
What you need to know before the open – 04/11 November 4, 2013 The euro's poorer performance last week has been put down to the anticipation of rates cuts by the ECB either this week or in December. At the moment, expectations are that Draghi will suggest this week that action will be in December. * BNP Paribas: we are not expecting an ECB rate cut at its [...]
Global monetary policy in four charts November 1, 2013 Societe Generale's Kit Juckes has a great note out with some observations about central bank policy around the world. He compares current policy with what the Taylor Rule suggests central bankers should implement. The Taylor Rule – devised by John Taylor – is a monetary policy rule that suggests prudent rates in order to stabilise [...]