Blogs

The ECB will deliberate on the German court ruling earlier See here for global coronavirus case data

Comments by an ECB spokesperson on the matter Some food for thought from the former ECB vice president:

<p>US ISM Non-Manufacturing PMI dropped to 41.8 in April, down from 52.5, above expectation of 37.5. A 122-month period of growth has formally ended. Also, it’s that lowest reading since March 2009. Looking at some details, business activity dropped from 48.0 to 26.0, lowest on record since 1997. New orders dropped from 52.9 to 32.9. [&

<p>US trade deficit rose 11.6% mom to USD -44.4B in March, larger than expectation of USD -41.0B. Imports dropped -6.2% mom to USD 232.2B. Exports dropped -9.6% to USD -187.7B. Trade deficit with China decreased USD 4.2B to USD -15.5B. Exports to China rose USD 0.3B to USD 7.8B while imports dropped USD -3.9B to […]

<p>Euro tumbles broadly today, together with the Swiss Franc, after Germany’s constitutional court has ruled that ECB’s stimulus program is partly in conflict with the country’s law. ECB has to prove that it’s QE program isn’t providing monetary financing to heavily indebted governments. The German government is

<p>The ECB has been given 3 months to prove to the Bundesverfassungsgericht that QE was necessary. Germany’s Constitutional Court, Bundesverfassungsgericht, officially questioned whether the ECB legally purchased 2 trillion Euros worth of government debt during its Quantitative Easing (QE) Program.  The Constitutional Court also questioned wh

<p>The Institute for Supply Management’s (ISM) Non-Manufacturing Index dropped by a 10.7 points to 41.8 in April, falling deep into contractionary territory. The headline number was slightly better than consensus expectations, which called for the index to fall to 38.8. Three out of four main subcomponents slumped deeply in the month. B

<p>The GER 30 index (Cash) has been making higher highs and higher lows since the mid of March when it touched the new trough of 7,950, pausing the previous downtrend in the short-term. The technical indicators continue to send weak positive signals, suggesting either a pause in the continuation of the bullish bias may be turning close to an

<p>WTI oil price rose to two-week high above $24 on Tuesday, extending recovery into sixth consecutive day. Renewed optimism in the markets on reopening after lockdown in several countries and US states, inflates oil prices as traders extend fresh longs on hopes for increased fuel demand. Vehicle traffic is expected to boost demand and narrow

<p>Reopening Rally, German ruling complicates ECB’s QE efforts, Oil’s bullish macro outlook, Gold struggles US equities are continuing to ride momentum that large parts of the US economy seem close to opening up for business. The first wave of the virus has ravaged New York and California, so it should not surprise markets that risk […