Markets

‘The ECB action was strong, but when Lagarde went into the details investors lost their excitement’: Here’s what analysts are saying about the ECB’s $1.53 trillion rescue package

The European Central Bank increased its Pandemic Emergency Purchase Programme by a further 600 billion euros ($US676 billion) on Wednesday. Most analysts welcomed the move but noted the ECB’s response was more dovish than they expected. One analyst said: “With these decisions, the ECB clearly surprised the market on the […]
‘The ECB action was strong, but when Lagarde went into the details investors lost their excitement’: Here’s what analysts are saying about the ECB’s $1.53 trillion rescue package
Markets

US stocks slide as dismal unemployment data offsets new economic stimulus

US stocks sank Thursday as another round of dismal weekly jobless-claims data offset new economic stimulus efforts in Europe. US jobless claims for the week that ended on Saturday totaled 1.9 million, the Labour Department said Thursday. That exceeded the median economist estimate. Continuing claims, which represent the aggregate total […]
US stocks slide as dismal unemployment data offsets new economic stimulus
Markets

US stocks slide as dismal jobless data offsets new European stimulus

US stocks sank Thursday as another round of dismal weekly jobless-claims data offset new economic stimulus efforts in Europe. US jobless claims for the week that ended on Saturday totaled 1.9 million, the Labour Department said Thursday. That exceeded the median economist estimate. Continuing claims, which represent the aggregate total […]
US stocks slide as dismal jobless data offsets new European stimulus
Markets

The ECB just announced $676 billion of new stimulus to fight the coronavirus

The European Central Bank increased its Pandemic Emergency Purchase programme by a further 600 billion euros ($US676 billion) on Wednesday. Markets were largely expecting a 500 billion euros ($US563 billion) increase. The new package takes the ECB’s total announced monetary stimulus to 1.35 trillion euros ($US1.52 trillion). ECB also extended […]
The ECB just announced $676 billion of new stimulus to fight the coronavirus
Markets

Here are Goldman Sachs’ top 10 market themes to watch in 2020

Goldman Sachs strategists released a recent client note revealing what the firm thinks will be the main market themes for 2020. The bank sees growth stabilizing and, as a result, expects “decent risky asset returns.” Goldman does, however, see market upside capped somewhat by a reduction in easing measures from […]
Here are Goldman Sachs’ top 10 market themes to watch in 2020
Markets

Global stocks are surging after Trump delays China tariffs

World stocks rose on Thursday after President Donald Trump delayed a tariff hike on $US250 billion worth of Chinese goods for two weeks. “We have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st […]
Global stocks are surging after Trump delays China tariffs
Markets

German manufacturing is in ‘free fall,’ say factory executives

German manufacturing is in “free fall,” according to a survey from German executives. The Ifo’s Institute’s manufacturing business and climate index slumped in July. Germany’s services sector also declined in the survey. View Markets Insider for more stories. Germany factory execs say the industry is in “free fall” and won’t […]
German manufacturing is in ‘free fall,’ say factory executives
Markets

If the US is slowing down, Europe is headed for ‘an abrupt stop’

The ECB’s Mario Draghi signalled any rate rises might be delayed after saying he sees “persistent deterioration of external demand,” in the economy. “There is probably a little more ECB dovishness to be priced in yet,” says Neil Wilson at Markets.com The Euro Stoxx 50, France’s CAC and the Dax […]
If the US is slowing down, Europe is headed for ‘an abrupt stop’
Markets

Why the US dollar rally could be about to reverse, in one chart

The US dollar index (DXY) hit a near one-year high on Tuesday. A more hawkish Fed, and more dovish ECB, have contributed to the US dollar’s recent strength. US economic data surprises compared to those elsewhere in the world have reached extreme levels, hinting that downside risks for the DXY […]
Why the US dollar rally could be about to reverse, in one chart
Markets

The Australian dollar’s getting slammed

The Australian dollar is getting slammed, falling heavily against all major currencies except the euro on Thursday. A sharp plunge in the euro, along with soft economic data from Australia and China, were the main catalysts behind the Aussie’s fall. The Bank of Japan will announce its June monetary policy […]
The Australian dollar’s getting slammed
Markets

6 things Australian traders will be talking about this morning

Good morning. To the scoreboard: Dow: 25,175.31 -25.89 (-0.10%) S&P 500: 2,782.49 +6.86 (+0.25%) AUD/USD: 0.7472 -0.0118 (-1.42%) ASX200 SPI futures (June contracts): 6,058 (+33) 1. Euro gets poleaxed: The European Central Bank said its $US3 trillion bond-buying program will end in December. The ECB also signaled steady rates through […]
6 things Australian traders will be talking about this morning
News

ECB exec: Bitcoin is ‘not money’ and ‘like Mr Ponzi’s schemes’

ECB executive board member Yves Mersch says cryptocurrencies “are not money.” Mersch compared bitcoin to a Ponzi scheme. He warned regulators to be wary of the growing risk of contagion as financial institutions start to look at digital currencies. Despite being dismissive, Mersch suggested some long-term good could come from […]
ECB exec: Bitcoin is ‘not money’ and ‘like Mr Ponzi’s schemes’
Markets

Mario Draghi just delivered a masterclass in central bank speak

On Thursday the eyes of the financial world were on the European Central Bank (ECB), specifically the bank’s President, Mario Draghi. After months of speculation over what the ECB may or may not do with it its asset purchase program, Draghi delivered a masterclass in central banking, managing to send […]
Mario Draghi just delivered a masterclass in central bank speak
Markets

The ECB had a major impact on financial markets over the past month

Central Banks remain a key driving force behind movements in financial markets. Just take a look at this excellent chart from Deutsche Bank for evidence. It shows the performance of various asset classes so far in 2017, as well as since European Central Bank (ECB) president Mario Draghi delivered what […]
The ECB had a major impact on financial markets over the past month
Markets

Bullish wagers on the US dollar just fell to the lowest level in a year

Currency traders are continuing to pull their bullish US dollar bets, mirroring the recent price action in the greenback. According to figures from the US Commodity Futures Trading Commission (CFTC) on Friday, net long speculative positioning in the US dollar fell to the lowest levels in a year last week, […]
Bullish wagers on the US dollar just fell to the lowest level in a year
Markets

Markets are doing the US Fed a massive favour

Last week the US Federal Reserve hiked interest rates for the second time in three months, something that hadn’t been seen in well over a decade. However, despite the acceleration in the Fed’s monetary policy tightening schedule, the US dollar still fell, and has continued to do so since. It’s […]
Markets are doing the US Fed a massive favour
Markets

Goldman Sachs says global reflation is ‘an illusion’

Speculation that consumer prices are finally rebounding globally ignores the reality of low underlying inflation in the eurozone and Japan, and as a result, a reduction in European Central Bank asset purchase or a increase in the Bank of Japan’s 10-year yield target is unlikely this year, according to economists […]
Goldman Sachs says global reflation is ‘an illusion’