ECB adopts symmetric 2% inflation target as result of monetary policy review
Stephan Behnes/iStock via Getty Images Following in the footsteps of the Federal Reserve, the European Central Bank's Governing Council adopts a symmetric 2% inflation target over the medium term as
Seekingalpha · 07/08 11:36
Greenback Stabilizes
The dollar is consolidating yesterday's losses.Equities are lower, and benchmark yields are little changed.The S&P 500 is trading a little lower following yesterday's 0.2% decline.Gold rose almost 1% yesterday, the most in a couple of weeks, on the back of the weaker dollar.WTI for December delivery slumped 4% yesterday and slipped below the $40-mark and straddled today.
Seekingalpha · 10/22/2020 11:32
Dollar Slumps As Yields Rise
The dollar is falling against most of the world's currencies today.Sterling and the Norwegian krone are leading the majors higher.The Chinese yuan extended its gains and is now at the best level since July 2018.In Asia, most of the large markets gained, but China, India, and a handful of smaller bourses were sold.Europe's Dow Jones Stoxx 600 is off for the third day and the sixth session in the past seven.
Seekingalpha · 10/21/2020 12:02
Sterling Sparkles In Dollar Setback
China's economy expanded by 2.7% in Q3, a little below the Bloomberg survey median forecast of 3.3%, and Q2 growth was revised to 11.7% from 11.5%.The UK has been struck by a resurging virus, the lack of progress with EU trade talks, and the pre-weekend downgrade by Moody's.In an otherwise light calendar today, six Fed officials speak. These include Chair Powell at an IMF-sponsored discussion of cross-border payments and Vice-Chair Clarida on the economic outlook.Oil prices have recovered from their April lows but have been moving broadly sideways for three-four months.
Seekingalpha · 10/19/2020 12:00
The Central Bank Watch
The central banks have increased their assets by 38.5% in the last twelve months, which has had a profound effect on both the bond and equity markets globally.They have pushed down interest rates for their nations, in an attempt to control the debt of their respective governments, as all of the governments borrowed more and more money to support their economies during the pandemic.The ECB and the BOJ have pushed their yields below the once-unthinkable line of zero. The Fed may also be motivated into negative interest rates if the Democrats win the upcoming US elections.
Seekingalpha · 10/19/2020 08:01
Second COVID-19 Wave Hits Europe. What Are The Potential Economic Implications?
Could new COVID-19 lockdowns in Europe threaten the region's recovery?Potential U.S. election outcomes and impacts.Behind the September U.S. retail sales report.
Seekingalpha · 10/17/2020 08:46
Deja Vu All Over Again
The firm close in US equities failed to carry over much to Asia-Pacific trading earlier today. Only Hong Kong and Indian equities gained.The tragic resurgence of the virus is likely to resolve the apparent debate at the ECB.Three successive gap-higher openings are a sign of an over-extended market.
Seekingalpha · 10/16/2020 11:30
Gold Is Still A Great Opportunity: Hirst
U.S. equity markets have been in a holding pattern since early September, but we’ll likely see a relief rally following the election.Yield curve control will make the environment very hard to price and the safety valve for the inflation play will be precious metals.Europe’s approach to stimulus has delayed insolvency for many companies and continues supporting jobs that may never be coming back, which is having a zombification effect.
Seekingalpha · 10/16/2020 03:00
Markets Shake And Dollar Goes Bid
Led by a 2% drop in Hong Kong, Asia-Pacific equities tumbled, with the exception of Australia.The Dow Jones Stoxx 600 is off for a third day, but the nearly 2.2% decline is the largest drop since September 21.US shares are also lower.The dollar is gaining across the board.The Antipodeans and Scandis are the weakest. Even the yen is softer.
Seekingalpha · 10/15/2020 11:30
Markets Look For Fresh Incentives
In China, the September surplus fell to $37 bln from almost $59 bln. The median forecast in the Bloomberg survey was for a $60 bln surplus.European stocks are struggling a bit, and the consolidative tone is threatening to end the three-day advance.The US reports September CPI. The headline rate is expected to tick up to 1.4% from 1.3% in August.
Seekingalpha · 10/13/2020 11:42
U.S. Services Sector Employment Expands For First Time In COVID-19 Era
Positive economic data from Europe and the U.S.Powell calls for more U.S. fiscal stimulus.Strong week for small cap U.S. cyclical stocks.
Seekingalpha · 10/10/2020 19:11
Investing In 2 Battered European Equity Sectors
European equity markets are still struggling to overcome the effects of the pandemic.Europe's aerospace industry is facing unprecedented distress.Before COVID-19, Europeans hadn't embraced online shopping as much as American or Asian consumers.
Seekingalpha · 10/09/2020 14:12
Animal Spirits Return
Chinese markets re-opened with a bang. Shanghai led the Asia Pacific bourses higher with a 1.7% gain, and the onshore yuan rose 1.1%.Gold has rallied more than 1% today to about $1916, putting it within striking distance of the week's high set on October 6 near $1921.The US economic calendar is light, featuring the final wholesales inventory report for August and the Fed's Barkin speaks to a regional Chamber of Commerce before the equity market opens.
Seekingalpha · 10/09/2020 11:43
Markets Catch Collective Breath
Japan reported a larger than expected balance of payments surplus in August of JPY2.1 trillion. Within it, the trade surplus rose to JPY413 bln, the largest since March.The RBNZ recognized that its dual mandate on inflation and employment is elusive and would not be met for at least three years.The US dollar is near a three-week low against the Canadian dollar (~CAD1.3235).
Seekingalpha · 10/08/2020 11:46
Eurozone Economic Rebound Stalls In September Amid Renewed Fall In Service Sector Activity
Eurozone PMI at three-month low as rebound shows signs of stalling.Stronger upturn in manufacturing offset by renewed fall in service sector activity.Of the four largest euro members, only Germany saw sustained recovery. Spain suffered largest hit amid fresh Covid-19 worries.Data add to risk of renewed eurozone GDP fall in fourth quarter.
Seekingalpha · 10/06/2020 16:57
Expectations Of The ECB's Monetary Policy Framework Review Are Now Framed By Disinflation And Eurozone Fragmentation Risks
The declining trend in eurozone fragmentation risk is meeting resistance.The ECB signals that it will become the first global central bank to adopt "Sustainable Easing" into its monetary policy framework.ECB defined "Sustainable Easing" conflates Global Warming with emergency COVID-19 pandemic bond-buying permanently.Spain is a growing risk of contagion that could spread fragmentation risk throughout the eurozone.If managed correctly, rising fragmentation risk can be the catalyst for MMT.
Seekingalpha · 10/05/2020 19:56
Is This The October Surprise?
News earlier today that the US President and his wife have tested positive for the COVID-19 virus has injected a new unknown into not only the US election but the markets as well.US shares are around 1.2% lower.European shares have recouped some of the initial sharper losses.The dollar is mostly firmer.Sterling and yen are notable exceptions, while the Australian dollar is snapping a four-day advance to lead the decliners.
Seekingalpha · 10/02/2020 13:00
Euro Banks Are Still Pricing In A Gloomy Outlook
The euro has been showing signs of fatigue in the past few weeks as investors rush for safe havens amid rising uncertainty over US elections.Euro leading indicators are sending mix signals at the moment, but equities and especially banks are still pricing in a "gloomy" outlook.We will need to see further strength in economic indicators in the coming months in order to have a positive momentum in risky assets.Euro bulls should trade the single currency against GBP or CHF, but not against the US dollar in the near term.
Seekingalpha · 09/27/2020 20:32
Eurozone Rebound Fizzles Out As Service Sector Reports Renewed Decline
Flash Eurozone PMI signals stalling economy as rebound from COVID-19 fades.Services contract, offsetting faster manufacturing expansion.Germany leads upturn thanks to manufacturing surge, France and periphery slip back into decline.Job losses ease but remain higher than at any time since early 2013.
Seekingalpha · 09/25/2020 01:15
Fiscal, Not Monetary, To Determine Europe's Inflation Path Ahead
It used to be that central banks heavily influenced inflation through tools such as interest rates, money supply and bank reserves.However, in a post-COVID-19 world with interest rates close to their lower bounds, this balance may be shifting, with fiscal policy now a much more important factor driving inflation.Given this more subdued private sector demand and higher savings, we expect inflationary pressures to remain weak in Europe in the coming year.
Seekingalpha · 09/23/2020 17:42
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