Analysts at Rabobank suggest that the ECB representatives at Jackson Hole will be down in it as they think of swelling populism; Italian Cabinet Undersecretary Giancarlo Giorgetti has just stated he hopes the ECB’s QE program will be extended to help protect the country from financial speculators.
Key Quotes
“Meanwhile, not central-bank related but still down in a hole we see that Australia appears set for yet another bout of Prime Ministerial merry-go-round with talk of a leadership challenge to Malcolm Turnbull. Can he emerge unscathed? And will AUD react negatively if he can’t?”
“Data releases today are thin on the ground. The UK Rightmove survey has already confirmed further weakness in house prices. Listed property prices dropped 2.3% m/m in August, with a 3.1% m/m plunge in London leading the way. German PPI inflation data registered an as expected 3.0% y/y increase.”
“The Fed’s Jackson Hole symposium will officially kick off on Friday morning with a speech from Fed Chair Powell.”
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