Remarks by ECB policymaker, Robert Holzmann
I wonder does a Magic 8-ball count as central bank „analysis“ these days? 😀
I wonder does a Magic 8-ball count as central bank „analysis“ these days? 😀
Schlagwort-Archiv: FX
US futures keep lower ahead of North American trading
Equities stay on the defensive so far today
Tech is leading the way lower as sentiment is weighed down by the more disappointing earnings reports from Apple and Amazon yesterday. But broader sentiment is also leaning towards the softer side with European indices also down across the board.
Tech is leading the way lower as sentiment is weighed down by the more disappointing earnings reports from Apple and Amazon yesterday. But broader sentiment is also leaning towards the softer side with European indices also down across the board.
Eurozone October preliminary CPI +4.1% vs +3.7% y/y expected
Latest data released by Eurostat – 29 October 2021
The headline reading jumps to a 13-year high and the core reading exceeding 2% just adds to the headache for the ECB even as Lagarde continues to defend the ‚transitory‘ narrative in her press conference yesterday.
The headline reading jumps to a 13-year high and the core reading exceeding 2% just adds to the headache for the ECB even as Lagarde continues to defend the ‚transitory‘ narrative in her press conference yesterday.
The market continues to ramp up ECB rate hike bets
A 10 bps rate hike is now fully priced in for July 2022
This comes as euro area bond yields continue to surge higher, with Italian 10-year yields rising to 1.17% – its highest since July 2020. Adding to that, the closely watched gap between 10-year Italian and German yields is now at its widest since
This comes as euro area bond yields continue to surge higher, with Italian 10-year yields rising to 1.17% – its highest since July 2020. Adding to that, the closely watched gap between 10-year Italian and German yields is now at its widest since
Eurozone Q3 preliminary GDP +2.2% vs +2.0% q/q expected
Latest data released by Eurostat – 29 October 2021
Germany October preliminary CPI +4.5% vs +4.4% y/y expected
Latest data released by Destatis – 28 October 2021
Base effects have some role to do with this amid the VAT reduction in the second half of last year but the trend across the region is undeniable as rising cost pressures and import/producer prices are also feeding through to consumer inflation now.
Base effects have some role to do with this amid the VAT reduction in the second half of last year but the trend across the region is undeniable as rising cost pressures and import/producer prices are also feeding through to consumer inflation now.
ECB leaves key rates unchanged in October monetary policy meeting, as expected
ECB announces their latest monetary policy decision – 28 October 2021
Pretty much no key changes whatsoever to the statement details and forward guidance, as is expected. It is all about the language today and that will center on Lagarde’s press conference instead, as mentioned earlier .
Pretty much no key changes whatsoever to the statement details and forward guidance, as is expected. It is all about the language today and that will center on Lagarde’s press conference instead, as mentioned earlier .
Watch: ECB president Lagarde press conference at 1230 GMT
The market will poke an prod at Lagarde’s comments on inflation
Keep an eye out for any talk about the economic outlook as the inevitable slowdown carries over to next year and also watch for any remarks on how policymakers are viewing market expectations on any rate moves by the ECB.
Keep an eye out for any talk about the economic outlook as the inevitable slowdown carries over to next year and also watch for any remarks on how policymakers are viewing market expectations on any rate moves by the ECB.
ForexLive European FX news wrap: Currencies quiet, yield curve continues to flatten
Forex news from the European trading session – 28 October 2021
Headlines:
Markets:
– JPY leads, CHF lags on the day
– European equities mixed; S&P 500 futures up 0.3%
Headlines:
Markets:
– JPY leads, CHF lags on the day
– European equities mixed; S&P 500 futures up 0.3%
What to expect from the ECB later today?
A placeholder meeting for December?
Well, for the most part perhaps. No changes to policy is expected as the ECB continues to slowly wind down PEPP by March next year. I’d still argue that they will keep that timeline in place just to be safe rather than sorry.
Well, for the most part perhaps. No changes to policy is expected as the ECB continues to slowly wind down PEPP by March next year. I’d still argue that they will keep that timeline in place just to be safe rather than sorry.