Oct 25, 2015 20:50 pm UTC| Commentary
The USD could gain ground in the weeks ahead as positioning has cleaned somewhat and next Thursday the Fed could continue signaling its willingness to start its normalization cycle no later than the 1Q of 2016. Although...
UK GDP in focus likely to lead to some EURGBP consolidation
Oct 25, 2015 20:33 pm UTC| Commentary Technicals
EURGBP is expected to stabilize somewhat this week following last weeks sharp depreciation. With little data of interest, the main focus will be the release of the preliminary Q3 GDP (Tuesday). A 0.5% q/q growth rate is...
ECB pares the way for more QE by year-end, expect further EUR downside
Oct 25, 2015 20:25 pm UTC| Commentary Central Banks
The ECB surprised markets last week, strongly hinting additional policy stimulus at its December meeting, when the committee updates its economic projections. A time extension of the PSPP program by 6-9 months is the most...
ECB underpins risk assets while pushing yields and EUR lower
Oct 23, 2015 17:00 pm UTC| Commentary Central Banks
The ECB surprised by being much more dovish than we expected yesterday and more or less pre-announcing easing in December. We now look for a deposit cut from the ECB of 10bp on top of an extension of the QE programme...
Euro zone PMIs is not yet compatible with QE2
Oct 23, 2015 16:52 pm UTC| Commentary
ECB President Draghi gave prospects yesterday of monetary easing in December. But the condition for this is a deterioration of the outlook for economic growth and inflation. The purchasing managers indices for October only...
Euro area composite PMIs smashed expectations in October
Oct 23, 2015 16:47 pm UTC| Commentary
Services PMIs were up 0.5 points to 54.2, close to the highs reached earlier this year, while manufacturing output was down slightly to 53.3 (-0.2 points), a five-month low. New orders and hiring intentions diverged in the...
Mexico's lower participation in labor market suggests only a temporary improvement
Oct 23, 2015 16:22 pm UTC| Commentary
Mexicos unemployment rate had an important decline reaching 4.23% sa in September from 4.32% sa previously; this drop is mainly explained by the reduction in seasonally adjusted terms of the participation rate by almost...
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