Let’s analyze the key events of yesterday. Consumer confidence in the Eurozone is rather depressed, as indeed the entire economy of the Eurozone. But at the same time, the euro did not show any specific movements. The dollar, on the contrary, despite the relatively good statistics, was losing its way. Preliminary data on US GDP for the third quarter came out...
The main event will be the announcement of the ECB decision on the monetary policy parameters in the Eurozone. Given the general tendency toward easing monetary policy in the world and the recent actions of the Central Bank of Europe, euro can be expected a pretty unpleasant surprise, In theory. But in practice, most likely everything will be ok. Mario Draghi is...
Today we are talking about a possible demarche by the Irish Democratic Party and, accordingly, the text of the treaty that could be not approved. Therefore, the GBP movement stuck. On the one hand, growth needs to be continued, because on brink of Brexit deal, on the other hand, everyone suddenly realized that the deal still has to be approved by the Parliament of...
The US dollar value is growing in the foreign exchange market. Although we do not agree with the current dollar state, however that what is happening. We are conscious of the futility of trying to go against the market will, but the sensation of the illogical nature of what is happening and the current dollar value still does not pass. So today we will continue to...
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Some cases are still unresolved also news that the Chinese delegation has cancelled a planned visit to American farms only exacerbates. So yesterday's gold growth was more than logical against the backdrop of fears of the failure of negotiations on trade wars. Our position on gold is unchanged - we continue to look for points for asset purchases. This is...
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ECB president, Mario Draghi unveiled a package of measures to ease monetary policy: the rate was reduced, and new asset purchases were announced. The euro initially reacted “classically” - with a decline, but then on Thursday evening and Friday was growing steadily. A similar thing was observed last week with the Turkish lira, which sharply strengthened after the...
Yesterday turned out to be busy and volatile. The ECB has eased monetary policy in the Eurozone. ECB cut the deposit rate by 0.1% to -0.50%, announced new purchases of assets (the ECB will buy government bonds at 20 billion euros per month, starting November 1). There was a signal - weak economic data: industrial production in the Eurozone in July fell by 0.4%...
Announcement of the ECB decision on monetary policy in the Eurozone is what everybody waiting for. Analysts are expecting lowering rates, a new quantitative easing program (an increase in bond buybacks) and all kinds of support signals from the ECB for the European economy. What are the chances? In our opinion, the chances are high enough. The fact is that the...
We continue to watch the confrontation between the British Parliament and Prime Minister Boris Johnson. Boris Johnson is losing another battle. On Tuesday, Boris Johnson not only lost his working majority, but he also could not initiate early elections. As we predicted, the pound strengthened. Even the weak data on business activity in the UK could not prevent...
GBP updated its lowest level since 2016 been in a pair with USD, but after soared at 100+ points for half an hour. The reasons for these movements we announced yesterday - the opposition of the British Parliament and Prime Minister Boris Johnson. We briefly outline the events of yesterday. A group of deputies is planning to initiate a bill where Boris Johnson...
Be concern working with the pound. Boris Johnson's decision to shut down parliament for five weeks in order ... controversial plan to suspend the UK's parliament for five weeks. The Queen has approved an order to prorogue the UK Parliament. Boris Johnson seriously set his sights on leaving without a deal. Of course, there is a chance that this is just his attempt...
Trump: China is ready to go back to the negotiating table. China, for its part, reiterated its desire to resolve trade problems through negotiations. safe-haven assets against this background have slightly adjusted and provided excellent opportunities. Despite the optimistic comments from Trump’s side as well as Chinese, everything might change. We have recently...
Powell speaks in Jackson Hole that is what everybody is waiting for. Fed minutes from the meeting also showed the lack of unity among the Fed members. That might lead to the fact that the rate can be either lowered in September or left unchanged. That is complete uncertainty. That is why Powell's comments are that important. Markets still believe in the rates...
We have already noted that this week promises to be calm but The Jackson Hole Economic Symposium is an annual symposium, traditionally gathering representatives of all the leading Central banks in the world, might give enough reasons for bursts of volatility. The most vulnerable are the euro and the dollar. Weak inflation in the Eurozone (yesterday's report...
A temporary truce in the trade war was announced. Well, of course, a “truce” is not the right word we prefer a “pause”. The appreciation of the renminbi, as well as the decline in the VIX Index, are further evidence of tensions easing in the financial markets. Against this background, we again pay attention to the sale of gold. But we note that sales with the...
The main event of yesterday was undoubtedly the announcement of the outcome of the meeting of the Federal Open Market Operations Committee. The 0.25% cut has "symbolic importance" as one analyst puts it. data from the Fed funds futures market has suggested that for weeks 100% of investors already expected at least that much. We still do believe that we have to...