US
Bye bye QE3
After almost two years, the Fed will exit from quantitative easing. It will however not end its accommodative bias for a long while.
Eurozone
Fall 2014 update on the cyclical environment
Several factors are straining Europe’s cyclical environment. Both growth and inflation will near zero in the months ahead. The ECB will come under increasing pressure to purchase public debt securities, an option that remains politically tricky, without German support.
The EMU opts for a fiscal pause
In 2015, fiscal policy will be virtually neutral in the eurozone. Before disclosing its verdict, the European Commission has asked for additional information about some countries, including France and Italy.
Greece
Recovery in question
Positive growth is insight for Greece. However, the slowdown in the eurozone and Turkey will limit the magnitude of the rebound. More crucially, political uncertainty is increasing. An early election next spring is now the most likely outcome.
Bye bye QE3
After almost two years, the Fed will exit from quantitative easing. It will however not end its accommodative bias for a long while.
Eurozone
Fall 2014 update on the cyclical environment
Several factors are straining Europe’s cyclical environment. Both growth and inflation will near zero in the months ahead. The ECB will come under increasing pressure to purchase public debt securities, an option that remains politically tricky, without German support.
The EMU opts for a fiscal pause
In 2015, fiscal policy will be virtually neutral in the eurozone. Before disclosing its verdict, the European Commission has asked for additional information about some countries, including France and Italy.
Greece
Recovery in question
Positive growth is insight for Greece. However, the slowdown in the eurozone and Turkey will limit the magnitude of the rebound. More crucially, political uncertainty is increasing. An early election next spring is now the most likely outcome.
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Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.