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Head of Global Economics at ANZ, Brian Martin explains that they’re actually assured that the European Central Bank will be quite slow when it comes to changing policy direction, especially considering an absence of underlying inflation as well as wage pressures.
As for other risk premia in the euro area, they turn to be diminishing which are ensuring some underpinning to the common currency amid disappointment with Donald Trump’s policy implementation.
The risk of a further upward shrink in the common currency can’t be ruled out, although policy makers are reluctant to face an ongoing FX-led tightening in monetary conditions.
As a result, for the common currency there’re several positives in diminishing risk premia. Well, in the short run, versus a backdrop of gloomy mood over American policy implementation, these could give the euro some further upside impetus. By the way, interest rates were last decreased over a year ago, and the EU economy has managed to expand with evident signs that the upswing’s actually broadening.
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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