Weekly US oil drilling rig count data Drilling picks back up but has stalled for a few months. ForexLive
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Draghi strikes an upbeat tone The euro climbed 80 pips in the aftermath of the ECB decision and Mario Draghi’s press conference but about a third of that is due to broad US dollar weakness following a released at the same time Draghi started talking.
Draghi taking questions in the press conference There were worries Draghi would use lower forecasts and emerging market risks to push back rate hike timelines but that hasn’t happened. As a result the euro is higher. At the same time, the US has had a broad swoon because of weak CPI data.
New forecasts from Draghi Forecasts for GDP growth: – 2018 2.0% vs +2.1% prior – 2019 1.8% vs +1.9% prior – 2020 1.7% vs +1.7% prior Inflation forecasts unchanged:
Draghi comments ForexLive
UK Times article Governor Carney briefed the UK Cabinet today saying: https://www.thetimes.co.uk/edition/news/house-prices-would-plummet-in-no-deal-brexit-says-carney-csgr9j0hj
I am paraphrasing, Japanese Prime Minister Abe: Read these comments, they are significant. The ducks are being lined up for the BOJ to scale back on its inflation target ambitions (we’ve seen plenty of signs of this in past months) and therefore on its very, very easy monetary policy. Yen is adding a few points,…
Stronger for the onshore yuan set today to cap off the week In Open Market operations, No maturing RRs today, net inject 150bn yuan for the day For the week, net inject of 330bn yuan via OMOs
ANZ out with a note in response to the European Central Bank meeting Thursday This in summary from a detailed note: (bolding mine) ForexLive