Results for 'ECB'
73 articles with this tag name
Aktualisiert Apr 5, 2013 7:00:00 AM
In the last 24 hours there hasn’t been a unifying theme in the FX or equity market. For example, the dollar has strengthened against the yen, but weakened versus the pound and the euro. Likewise in equities, the Nikkei rose 1.5% in Friday’s trading, while the Hang Seng was down nearly 3%. This is a reflection of contrasting economic fortunes in the developed world and also differing monetary stances. Likewise, some different factors are impacting
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Aktualisiert Apr 4, 2013 7:00:00 PM
“It’s like deja vu all over again” – Yogi Berra It was approximately a month ago, March 7th, when the Bank of Japan & European Central Bank held their meetings within 12-hours of one another. Sure enough, the combination of these two saw EURJPY take flight, which prompted us to update our technical outlook (see update II below). Interestingly, the past 24-hours saw both of these central bank announcements converge again, but this time the
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Aktualisiert Apr 4, 2013 1:00:00 PM
Central banks came to the fore today – the BOJ stunned the market with its aggressive easing, the ECB’s hands remain tied, the BOE stayed on hold and some Fed speakers reinforced the importance of tomorrow’s NFP report. Since central banks are still some of the most powerful forces in the market, it’s worth summing up what their actions mean for the market going forward. ECB: No more tools in the box? The April
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Aktualisiert Apr 4, 2013 6:00:00 AM
The UK’s economy may be running on just one cylinder, but the service sector has actually picked up strongly in Q1, making up for weakness in construction and manufacturing. The March service sector PMI was the highlight this morning (apart from the BOJ, of course, more of that later) and the data beat expectations rising to 52.4 last month, up from 51.8 in February and the highest level since August 2012. Since the service sector
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Aktualisiert Apr 3, 2013 7:30:00 PM
With several key events happening over the next 48-hours: Interest rate announcements out of the BOJ, BOE & ECB as well as the U.S. employment report, we felt it was pertinent to highlight some of the technical levels in many of the FX majors and other asset classes as these events could create an extreme amount of volatility depending upon their outcomes. FX MAJORS: COMMODITIES, EQUITIES & TREASURIES: 1 Reference is for informational purposes only
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Aktualisiert Apr 3, 2013 4:20:00 PM
The greenback is softer today after weaker than expected US economic data while the yen is the strongest performing currency in the G10 before tonight’s Bank of Japan policy announcement. US treasury yields and equities are also lower amid a decline in sentiment as labor data disappointed. US economic data disappoints The March ADP employment report showed a lower than expected gain of 158K (cons. 200K), however the prior month’s 237K reading was revised up
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Aktualisiert Apr 3, 2013 10:00:00 AM
The problem with this US recovery and stock market rally is that no sooner are you lulled into a false sense of security that the economic recovery will continue then a data point reminds you that the US recovery is still fragile. Take today’s ADP report, it missed expectations of a healthy 200k and came in at 158k for March. This is still a good run-of-the-mill number, but it’s not the magic 200k that everyone
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Aktualisiert Mar 22, 2013 7:00:00 AM
The market is waiting patiently for a vote on a third version of the Cypriot bailout package, which has already been held up by Nicosia. The debate of a second new bailout plan, which would aim to raise the five billion euro needed to get EU / ECB / IMF assistance, comes after a previous plan was rejected by Eurozone authorities. The second bailout deal included a bond issue backed by natural gas, pension assets
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Aktualisiert Mar 7, 2013 4:10:00 PM
The USD is trading mostly lower against the major currencies with the notable exception being against the JPY. USD/JPY rose to its highest level since August 2009 as it briefly traded above the 95.00 big figure. This occurs after Shirakawa’s last meeting as Bank of Japan Governor. Markets are now looking ahead of his departure and towards the potential for more aggressive easing under Kuroda. For now, it looks as though the 95.00 zone has
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Aktualisiert Mar 7, 2013 10:00:00 AM
The ECB and BOE both kept monetary policy on hold in March, which has helped to boost the EUR and GBP this afternoon. Although the majority in the market expected the ECB and BOE to remain on hold, there was a small chance of a rate cut at the ECB and more QE at the BOE, hence the “relief” rallies in the two currencies this afternoon. Draghi strikes an upbeat tone Looking at the
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