The bears are in charge of the euro market today
In the past the financial markets in Europe have been willing to rally just on a promise from ECB President Mario Draghi to do “whatever it takes.” This time, the doubters are saying, even actual action might not be enough to turn the EuroZone economy around.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Greece moves closer to setting off another euro crisis but how wide will it be this time?
Today’s vote in the Greek parliament ended with the government short of the votes it needed to avoid elections in January. The opposition Syriza party, which wants to renegotiate the bailout, leads in opinion polls.
Which is important since Syriza opposes the austerity measures imposed by the country’s creditors in exchange for a $305 billion bailout package.
European Central Bank puts off buying government bonds until 2015
Wait ‘til next year for a big expansion of asset buying that is likely to include big purchases of sovereign debt. That was the message from European Central Bank President Mario Draghi today. Financial markets might have been hoping for more, but this is about as fast as Draghi can move while pulling reluctant members of the bank along with him.
People’s Bank–finally–cuts interest rates
After a year and a half of trying—and largely failing—to stimulate China’s economy by supplying more funds to the country’s banking system, today the People’s Bank of China went back to its demand side tools and cut the benchmark one-year deposit rate and the one-year lending rate for the first time since July 2012
Gold sinks on rising “No” vote in Swiss gold referendum
Gold is down today on a new poll showing that Swiss voters are likely to reject a referendum that would force the Swiss National Bank to make a huge increase in its gold position. December gold futures on COMEX were down 1.57% as of noon New York time to $1178 an ounce
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The only good news for the EuroZone in today’s economic forecasts is that it could be worse
The drop in forecast inflation despite the European Central Bank’s initial steps to purchase assets in the bond markets, and thus to weaken the euro, and thus to raise growth and import some inflation hit the euro especially hard. The continued downward trend in inflation expectations leaves the financial markets convinced that the central bank will have to go even further in its program of asset purchases/euro weakening
More economic pain for the EuroZone, but not enough for another central bank surprise on Thursday
The economic data is grim enough, but the financial markets aren’t behaving as if there were any chance of another “central bank surprise” when the European Central Bank meets on Thursday, November 6. The French CAC Index is down 1.62%; the German DAX is off 0.96%, and the Spanish IBEX has slumped 2.16%.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Talk is cheap but euro isn’t: Financial markets don’t buy latest “detail light” plan from European Central Bank
Not enough! Financial markets have responded. “We want more details.” On the news for the European Central Bank the euro has climbed against the U.S. dollar and European stock markets have plunged
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