Bloomberg reports, citing a draft legal report by the Bundestag German constitutional court ruling The report also adds that not responding to the ruling 'is not an option' and discusses a series of options allowing the Bundesbank to comply with the ruling without possibly meddling into ECB affairs.
Blogs
PBOC 200bn yuan 1 year MLF, rate unchanged at 2.95%
People's Bank of China inject funds through a one year medium term lending facility today. The Bank skipped OMOs today. This instead. An MLF is … actually, here is more on it & other tools the PBOC have:
PBOC sets USD/ CNY reference rate for today at 7.0902 (vs. Friday at 7.0865)
People's Bank of China setting the CNY back on its weakening path today again For bank trade ideas, check out eFX Plus
Heads up for RBA monetary policy minutes due Tuesday – QE info awaited
Reserve Bank of Australia minutes are due on 16 June 2020 at 0130GMT – The meeting was held on June 2 Since then Governor Lowe has allowed some optimism to creep back into his public comments. For example, he said last week the depth of the economic downturn may not be as severe as it […]
UK Times reports on a further £150 billion of stimulus expected from the Bank of England
UK press report preview on more QE bond buying and such to come from the BoE – a further £150bn of stimulus – its latest attempt to cushion the economic damage from Covid-19 Times is gated, but if you can access it
Fed's Kaplan sees 'positive' US jobs growth ahead, but a still elevated unemployment rate
Kaplan is president of the Federal Reserve Bank of Dallas, he spoke on Sunday in the US: On the jobless rate: – "We're on our way down right now" Kaplan projected the unemployment rate would end 2020 at 8% or even higher
Fed's Barkin: Does not see negative rates happening in the United States
Fed's Barkin speaking – Does not see negative rates happening in the United States – The Fed will launch main Street lending program in the next week or so – doesn't see any imminent threat of inflation For bank trade ideas, check out eFX Plus
Fed mon pol report: Data since non-farm payrolls survey suggest job gains have continued
Comments in the Fed's monetary policy report to Congress about the Fed Listens events It's interesting that the Fed is looking at higher-frequency data. For bank trade ideas, check out eFX Plus
Fed's Barkin: Some of the jobs lost will not come back
Comments from Barkin: I'll watch out for more comments but I struggle to see how Fed commentary will be market moving, given that we just heard from Powell. For bank trade ideas, check out eFX Plus
Is FX trading a zero-sum game?
Zero sum? to learn more. Checkout ForexSource.co For bank trade ideas, check out eFX Plus