Monday, October 20, 2014

Some ECB officials reassure the markets that QE is coming

     After all the drama of last week, markets finish little changed
    US 10yr bond ends week @ 2.20%, down from 2.28% a week earlier
    DXY index down 0.2%, not much considering the volatility of the week. USD gains on the week vs NOK, CAD, JPY and GBP
     Some ECB officials reassure the markets that QE is coming
    Coeure said purchases will start “within the next days”
    Weidmann sees “a shift to QE philosophy,” although he’s not happy about it
    Also, Greek markets calmed down
     Journalists, Fed officials confirm Fed likely to stop QE on schedule
     Today:
    Eurozone: German PPI expected to fall at accelerating pace = EUR-negative
    Canada:  wholesale trade sales for August
     Rest of week
    Tuesday:  China Q3 GDP, retail sales and industrial production for Sep expected to slow = AUD-negative? Minutes of latest RBA meeting
    Wednesday:  Bank of Canada expected to remain on hold at neutral

    Thursday:  Norges Bank meeting (remain on hold), global PMIs

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