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As expected, the ECB cut its deposit rates by 10bps to 0.5% and announced that it will restart its asset-purchase program in November, buying EUR 20bn of sovereign and corporate bonds as long as the Euro area economy needs, and will end the program 'shortly before rising the key policy rate'. ...
I have had various degrees of luck with the US dollar versus the British pound exchange rate over the years. When I attended University in London in 1981, the rate was around two US dollar to one pound sterling. The 2-1 rate created more than a challenge for a struggling student on a severe bu...
Overview Global equities are extending their recent gains, while bonds remain on the defensive. The dollar is firm. There is a degree of optimism that is prevailing. There are some more overtures in terms of US-Chinese trade. In Hong Kong, developers and banks led an equity rally on ideas th...
Currencies Japanese Yen - The Japanese Yen’s decline triggered a momentum-based short sale under .9425. Commercial traders were once again heavy sellers in the Yen. Our short sale is protected with a buy stop at .9647. First support is around .9230. The bigger question is, “W...
By Petr Krpata , CFA, Chief EMEA FX and IR Strategist, Antoine Bouvet , Senior Rates Strategist and Carsten Brzeski , Chief Economist ING Germany Given the chance that the ECB fails to match market expectations for easing policy, the balance of risks favours higher EUR/U...
Overview: The momentum from the end of last week carried into yesterday's activity, but the momentum began fading. Today, equities were mixed in Asia Pacific and weaker in Europe. The Dow Jones Stoxx 600 reversed lower yesterday and slipped further today. The S&P 500 may gap lower at the...
Macro News Global: The negative sentiment with market participants pricing in a significant deterioration of the global economic activity within the next few quarters has been the main driver of interest rates in the past 9 months. For instance, we recently saw Societe Generale's (SCGLF) g...
We identified geopolitical risk as the key market driver in the second half of 2019 in our midyear investment outlook . The UK is the latest example, where deep divisions over a potential Brexit have unsettled the political landscape, paving the way for a broader set of potential outcomes...
Overview: The improvement of investor sentiment seen last week is carrying over into the start of the new weeks. Global equities are firm as are benchmark yields. Asia-Pacific equities advanced, except in Hong Kong, where Chief Executive Lam's promise to formally withdraw the controversial e...
The U.S. dollar is lower against major pairs on Friday after the U.S. nonfarm payrolls ((NFP)) came in lower than expected by 30,000 jobs. The final data point was 130,000; while not raising alarms as it still points to a solid employment sector, it does put more pressure on the Fed to cut rat...