Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
ECB press conference: live coverage
As expected, the European Central Bank left monetary policy unchanged. The ECB increased GDP growth forecast from 2.3% to 2.4%. At the same time, the regulator pointed out that protectionist policies create negative risks. Inflation is expected to remain subdued this year. Inflation forecast for 2019 was reduced from 1.5% to 1.4%.
At the press conference, the ECB President Mario Draghi the ECB still expects the interest rate to remain at the current level for a long time.
The ECB has removed the sentence “If the outlook becomes less favorable… we stand ready to increase the asset purchase program in terms of side and/or duration” from its statement. According to Draghi, this move of the ECB doesn’t signal any policy changes. Actually, the regulator members didn’t discuss the changes much.
Draghi also claimed that what happened recently is not a trade war yet.
EUR/USD spiked to 1.2445 before sliding to 1.2410.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The Chinese economy is slowing down, while a risk that politicians will not be able to agree regarding the US national debt increases. Read the full statement to learn more!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.