ECB's Draghi reiterated the ECB discussed neither tapering, not extending QE. Despite repeating the usual line of considering to extend purchases beyond their planned expiry date, Draghi calmed restless reporters & traders who seem to expect that something must be done (taper or extension) at each meeting. But as we indicated long ago, Draghi's message has been: "Eyes off, ears off. Turn your expectations towards national governments as we're tapped out". Below is the note published 1 hour before the ECB decision. A new Premium trade has been issued moments ago, partly boosted by a DragonFly Doji. A trade was also issued earlier this morning, 1 hour after the Clinton-Trump debate.Read More...
Central bankers walk a fine line where a surprise can often stimulate an economy but a shock might destabilize it. Reading between the lines, the Bank of Canada seems to be setting something up for the near future. The Australian dollar was the top performer Wednesday while the pound lagged. The Fed's Dudley and Australian employment are due next. A new Premium trade shall be issued ahead of tonight's Presidential Debate between Clinton & Trump.Read More...
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