Markets Pondering Size Of Rate Cuts From ECB, BOE And Riksbank Today
Today is central bank day for Europe, with the ECB, BOE and Riksbank all on tap for rate decisions. The Riksbank brought their meeting forward by two weeks in order to chop rates at today’s meeting, and for good reason: our models show that Sweden is one of the most…
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Swiss Franc Crosses Pare Gains, Driven by Risk Aversion
The Swiss franc firmed up in to the European session, with gains coming against the euro and sterling ahead of today’s key rate decisions from the BoE and the ECB. EUR-CHF traded back in to 1.5300 versus an Asian peak of 1.5381 and GBP-CHF reverted to the 1.7750 area against…
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Daily Financial Market Outlook
Today will see the Bank of England and the ECB meet for their monthly monetary policy deliberations on what to do with interest rates. On this occasion, just like the last one, the outcome is very clear: interest rates will be cut. The only question is by how much. In…
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ECB And BoE Rates
The Bank of England and the European central bank are gathering their tools calculating and evaluating the current situation, to decide how sever the recession is, and how powerful the taken actions should be, while market expects the BoE to reduce one percentage point and the ECB to reduce half…
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FX Sterling Is Again Under Pressure Ahead Of The BoE Decision
EUR/USD and USD/JPY continue to trade rather calm. We don’t expect the ECB interest rate decision to change the global picture for EUR/USD in a lasting manner. EUR/GBP is coming close to the highs. A further loss of interest rate support after today’s BoE meeting could lead to additional sterling…
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Big3 Autos To Appear Before Congress Today
Big3 Autos to appear before Congress today, asking for $11B just to stay in business for the rest of the year. They have accepted a cost cutting plan and asked for a total of $34B bail-out to restructure the businesses.
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Sphere: Related Content
Swiss GDP Remains Unchanged In Q3
The Swiss economy remained steady in the third quarter, posting a 0.0% growth rate. Compared with the same quarter of the last year, the Swiss economy grew by 1.6%. In 2008, the second quarter growth projection, initially released at 0.4% was revised lower, to 0.3%. The third quarter growth was…
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Asian Market Update
Currency markets saw early session volatility in New Zealand Dollar that followed RBNZ’s 150bp cut to 5%, 3.25% lower than its peak at 8.25% seen just six months ago. NZD/USD responded with a 70 pip knee-jerk rally to a session high of 0.5350, however that level has served as a…
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Euro Open: Euro, British Pound In Play As ECB and BOE Promise Massive Rate Cuts
Interest rate announcements from the European Central Bank and the Bank of England headline a packed economic calendar in European trading hours. The ECB is expected to slash rates 0.50% while the BOE is expected to be even more aggressive, shaving a full percentage point off benchmark borrowing costs.
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Asia Session Recap
With the Reserve Bank of New Zealand’s rate cut now history, we have the BoE and ECB later today to finish this week’s rate cut activity until the FOMC comes into focus next week. To jump start the Asia session today we had the RBNZ enthusiastically cut rates by 150…
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