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Day: September 9, 2021

ECB to Slow Asset Purchases via PEPP. Growth and Inflation Outlook Upgraded

Two important messages delivered at the ECB meetings are: 1) the end of the front-loading of PEPP asset purchases and 2) acknowledgement of a more persistent inflation pressure. The policy rates were all kept unchanged with the main refi rate, the marginal lending rate and the deposit rate staying at 0%, 0.25% and -0.5% respectively. …

ECB to Slow Asset Purchases via PEPP. Growth and Inflation Outlook UpgradedRead More

Weekly jobless claims post sharp drop to 310,000, another new pandemic low

First-time filings for unemployment claims in the U.S. dropped to 310,000 last week, easily the lowest of the Covid era and a significant step toward the pre-pandemic normal, the Labor Department reported Thursday. Claims had been expected to total 335,000 for the week ended Sept. 4, according to economists surveyed by Dow Jones. The total …

Weekly jobless claims post sharp drop to 310,000, another new pandemic lowRead More

ECB Research – Saving the Battle for December

At today’s meeting, ECB decided to slow its PEPP bond purchases to a ‘moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the previous two quarters.’ This slowdown was widely expected and probably as close to the market consensus as there could be. The entire press conference unfolded …

ECB Research – Saving the Battle for DecemberRead More

Stocks Little Changed, ECB Moderates Purchases, Another Pandemic Low for Jobless Claims

US stocks pared losses after weekly jobless claims hit a fresh pandemic low and as the ECB turns optimistic enough to moderate their PEPP buying. The S&P 500 index won’t make a major move unless inflation heats up or if delta variant concerns ease further and the economy can resume reopening. The global economic recovery …

Stocks Little Changed, ECB Moderates Purchases, Another Pandemic Low for Jobless ClaimsRead More

Businesses are feeling stronger inflation and paying higher wages, Fed’s ‘Beige Book’ says

U.S. businesses are experiencing escalating inflation that is being aggravated by a shortage of goods and likely will be passed onto consumers in many areas, the Federal Reserve reported Wednesday. In its periodic “Beige Book” look at the nation’s economic picture, the central bank also reported that growth overall had “downshifted slightly to a moderate …

Businesses are feeling stronger inflation and paying higher wages, Fed’s ‘Beige Book’ saysRead More

Euro Tumbles in Crosses, No Help from ECB Re-calibration

Euro tumbles notably against European majors and Yen today, and ECB’s re-calibration of PEPP purchases provide no support. But Dollar is seen as equally weak. Sterling is currently the star performer for today, followed by Swiss Franc and Yen. Commodity currencies are mixed. Focuses will now turn back to development in stocks and bonds markets, …

Euro Tumbles in Crosses, No Help from ECB Re-calibrationRead More