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I'm not sure about everyone else but I wasn't expected ECB not to upgrade their QE program from 60B euro to at least 75B euros. This was a big disappointment even for the market itself as the build up in expectation ahead of the meeting was quite huge. Based on the latest COT report the net speculative short position ahead of the meeting where as high as they where in March when again happened to get a swing low. It never chase to amaze me how accurate this can be use as an contrarian indicator,…
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ECB on the Spotlight
If Mario can't move the euro no one cans, so lets hope he will put a stop to the current never ending ranging EUR/USD market. Let's be honest here EUR/USD has been a pain over the last few months as it has been moving back and forth. We still have to answer one important question on how EUR/USD will move based on whatever the monetary policy may be.
One thing I'm sure of is that they aren't going to expand their easing program at least not before Fed does a move first, with normalizing interest …
One thing I'm sure of is that they aren't going to expand their easing program at least not before Fed does a move first, with normalizing interest …
ECB On The Spotlight
In today's ECB meeting Mario Draghi will give more details on the ABS program and covered bond purchase programme, as this has been already announced in September meeting.
Also in regard to the TLTRO, ECB will be in waiting mode and wait for the December auction in order to asses the success of the programme so it may be the case there will be no new step taken, this year, towards QE. but this is just my assumption and interpretation of current data and anything can be possible. Right now it's …
Also in regard to the TLTRO, ECB will be in waiting mode and wait for the December auction in order to asses the success of the programme so it may be the case there will be no new step taken, this year, towards QE. but this is just my assumption and interpretation of current data and anything can be possible. Right now it's …
What To Expect For FOMC Minutes
Beside the fact that the main risk event for today is definitely the FOMC minutes we also have Mario Draghi speaking lately today. When it comes to the ECB there are different opinions in regards with what will trigger ECB QE. Some members see QE only in an "emergency situation" and others say "ready to take any actions that may prove necessary should downside risks further materialise" like Noyer.
When it comes to FOMC minutes I'm not expecting any market-moving comments coming from Yellen's sp…
When it comes to FOMC minutes I'm not expecting any market-moving comments coming from Yellen's sp…
ECB Ready for "Prime Time"
Tomorrow's ECB meeting can be the most important event of the year for euro as low inflation threats can be an obstacle to EU recovery.
The President of the European Central Bank Mario Draghi has already signaled the fact that ECB is ready to take action at today's meeting including both conventional and unconventional measures.
What to expect from tomorrow's ECB meeting?
Although the stimulus expectation has certainly picked up, however we can't look at just one aspect, and interest rates…
The President of the European Central Bank Mario Draghi has already signaled the fact that ECB is ready to take action at today's meeting including both conventional and unconventional measures.
What to expect from tomorrow's ECB meeting?
Although the stimulus expectation has certainly picked up, however we can't look at just one aspect, and interest rates…
Prepearing the Week Ahead
This week's ECB meeting can be the most important event of the year for euro as low inflation threats can be an obstacle to EU recovery. The President of the European Central Bank Mario Draghi has already signaled the fact that ECB is ready to take action at this week's meeting including both conventional and unconventional measures.
Market expectation for ECB meeting:
- Refi rate to be cut by 15bps to 0.1%;
Game Over
Once again I got knocked out at an earlier stage of the contest and my chances to recover are zero , I guess I'll have to live to fight another month for a top rank in the contest. I got a margin call after my long EUR/JPY position went against me. Although initially it went in my favor but my target was missed by 15 pips.
Everything happened just too fast and it seems that Mario Draghi's comments and his willingness to change monetary policy as soon as Jun has put a lot of pressure on eruo. I k…
Everything happened just too fast and it seems that Mario Draghi's comments and his willingness to change monetary policy as soon as Jun has put a lot of pressure on eruo. I k…
What to Expect From ECB
Today we have ECB interest rate decision and later Draghi's press conference which is a big risk event for the euro and it has the ability to move markets more than usual and can initiate some big movements however market expectation for today meeting are very neutral and there is not so much expectation for ECB to act this month as many sees Jun more appropriate for the ECB to take action.
Recent EUR/USD strength has been due to a lot of factors and mainly because:
[…
Recent EUR/USD strength has been due to a lot of factors and mainly because:
[…
EURO- Verbal Intervention
As expected we have not even started the week and the ECB's heads are trying to talk down the euro but so far, comparing with last week reaction to their words, lets just say they had little success.
I guess they will only take action when the level of pain is reached and we can still see EUR/USD exchange rate at 1.4 before this dumb heads will take action instead of just words. But for now lets just enjoy the show.
This morning we had some comments even from German Finance Minister Schaeubl…
I guess they will only take action when the level of pain is reached and we can still see EUR/USD exchange rate at 1.4 before this dumb heads will take action instead of just words. But for now lets just enjoy the show.
This morning we had some comments even from German Finance Minister Schaeubl…
ECB Monetary Policy Statement
This is definitely the most awaited ECB meeting since awhile. After weaker EU inflation reading, the CPI figures came in worse than expected at 4 years low, at 0.5% and is well below the ECB's 2% target. Although ECB may feel some pressure as inflation hits new lows, I'm not sure if ECB is going to easing or not as there is no clear view if they are
ready to act and tame down deflationary pressure.
ECB is pretty stationary when it comes to the perception of his monetary policy standing.
A…
ready to act and tame down deflationary pressure.
ECB is pretty stationary when it comes to the perception of his monetary policy standing.
A…