Post Tagged with: "Jean-Claude Trichet"
ECB Set to Reverse Policy? Preview
The first euro-zone rate decision under the new ECB president Mario Draghi comes at a bad timing of a slowdown in the zones’ economies. There’s a significant chance that Draghi will reverse the last rate hike of his predecessor. ECB Preview. Jean-Claude Trichet held the helm for 8 years and proved to be very tough
Greece aims to shoot itself in the foot
Last week’s EU agreement was just about holding together until last night, when Greece threw in the curve-ball of announcing a referendum on the deal. Many Greeks feel that the option of full default, letting the bond-holders take the full hit is better than the restructuring currently being negotiated and the years of austerity currently
Haircut for the ECB – A Step Forward for a Comprehensive Solution
The banks have now reportedly agreed for a 40% haircut on Greek debt. Germany and other countries want more even 60%. But wait. This is by no means a reduction of 40% or 60% in the Greek Olympus of debt. It applies only the private sector. In order for the Greek debt to become sustainable,
Forex Daily Outlook – October 24 2011
Mo – We start the week with Flash Manufacturing PMI in Europe and MPC Member Tucker speech in the UK as the main highlight on today’s outlook. Let’s see what awaits us today. In the US, William Dudley, Federal Reserve Bank of New York President, is due to deliver a speech in Bronx. In Europe,
Forex Daily Outlook – October 21 2011
Public Sector Net Borrowing in the UK and CPI in Canada are the major events this day. Here is an outlook on the market-movers awaiting us. In the US, Narayana Kocherlakota, Federal Reserve Bank of Minneapolis President, is about to speak in Minneapolis. Later in the US, Janet Yellen, Federal Reserve Governor, is due to lecture
EUR/USD Oct. 12 – Breaks Higher On Strong Optimism
Euro dollar made an impressive breakout above the 1.37 line it struggled with for several days. Fresh promises that a serious solution is close push the pair higher. The fears after the Slovak rejection of the new EFSF powers were replaced by optimism that it’s only a matter of days before the final ratification. Also the
Forex Daily Outlook – October 12 2011
FOMC Meeting Minutes in the US and Claimant Count Change in the UK are the main events today. Here is an outlook on the market-movers awaiting us In the US, Federal Open Market Committee (FOMC) Meeting Minutes, full record of the latest FOMC’s meeting, the visions into the financial and monetarist conditions that prejudiced on
EUR/USD Oct. 11 – Consolidating on High Ground
Euro dollar continues enjoying the promise to “get serious” about the crisis from Merkel and Sarkozy and is sitting comfortably in high range. When will the market demand details? The Slovak parliament might approve the EFSF powers today, providing more back wind for the common currency as North America returns from the short holiday. Here’s a
Forex Daily Outlook – October 11 2011
ECB President Trichet Speaks in Europe and Manufacturing Production in the UK are the main events lined up. Let’s see what awaits us today. In the US, Investor’s Business Daily (IBD) Techno Metrica Institute of Policy and Politics (TIPP), Economic Optimism, Survey (900 consumers) to rate the financial conditions economic outlook for the 6-month, a
Trichet Announces More Liquidity – EUR/USD Ticks Higher
Jean-Claude announced new liquidity measures, for the longer terms and also a new covered bond program. He repeats the same assessments about growth and inflation. EUR/USD is rising very moderately in his last press conference as the president of the ECB. His final decision after 8 years was to leave the interest rate unchanged at