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Friday, March 14

14th Mar - More on Draghi, Ukraine.

Previously on MoreLiver’s:

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Draghi Takes Aim at Euro Seen Too Strong for Comfort: CurrenciesBB
In his strongest words yet on the currency’s advance to its highest level since 2011, Draghi said yesterday in Vienna that the exchange rate is “increasingly relevant in our assessment of price stability.” He suggested his eight-month-old policy of hinting at future interest rates may address the appreciation that may be holding back growth.

Draghi Says ECB Forward Guidance May Help to Curb EuroBB
Draghi said his forward guidance may help to weaken the euro and lower real interest rates, easing the risk that inflation won’t return to the goal set by policy makers.

Draghi’s Euro Comments Are a Likely Game-ChangerWSJ
Euro Rise Shows Limits of ECB WordsWSJ

Exogenous shock from artificially high euroSober Look
For the first time the ECB has admitted that disinflationary pressures present a problem for the central bank. Draghi is blaming the downward pressures on prices in the Eurozone on the unusually strong euro.

How accommodative is ECB's monetary policy really?Danske Bank

Russia counts cost as West tightens sanctions nooseThe Telegraph
The West has threatened visa bans and an asset freeze on individuals unless Russia steps back from the brink on the annexation of Crimea

5 Ways Russia’s Ukraine ‘Boomerang’ Could Strike AsiaThe Diplomat
Putin has warned that U.S. action over Ukraine would have a boomerang effect. Will the target be Asia?

Which European Countries Will Suffer The Most If Russia Turns Off The GasZH

Russia Says Kiev Not in Control of Ukraine as Vote Looms BB

Putin Deports Executives for Speeding as Sanctions LoomBB

Ukraine crisis: The elusive Moscow blacklistFT
Monday’s meeting of EU foreign ministers is shaping up as one for the history books. Just as Crimean officials are scheduled to be finishing their count of the region’s independence referendum, ministers will gather in Brussels to finalise a list of Crimean and Russian officials to be targeted with travel bans and asset freezes, the most significant step yet taken by any of the western allies against the Russian incursion. But first, diplomats must decide who exactly is on that list.

$3 Billion for Ukraine Aid Would Go to RussiaNBC
As Western leaders prepare a bailout package for embattled
Ukraine, they face a startling irony: Thanks to the almost bizarre structure of a bond deal between Ukraine and Russia, billions of those dollars are almost certain to go directly into the coffers of the Putin government.

Consumers Begin March Feeling More Gloomy – WSJ
Vital Signs: Consumers Hold Emotions in Check – WSJ
Confidence Fades; Misses By Most In 15 Months – ZH
Sentiment: March Preliminary Falls Short of Expectations – dshort
Preliminary March Consumer Sentiment declines to 79.9 – Calculated Risk
Consumer Sentiment in U.S. Unexpectedly Falls on Outlook – BB
U.S. consumer sentiment slips; bad weather eyed – Reuters

Wholesale Prices in U.S. Unexpectedly Drop on Services – BB
Core Producer Inflation Drops By Most In 9 Months – ZH

Bond Update: Market on alert over Ukrainian crisisTradingFloor
Simon Fasdal: The unresolved Ukrainian situation and the clear threat of retaliatory action on Monday now have complete market attention. Markets are responding with moderate risk-off positioning.

FX Board for March 14, 2014: Double EURUSD whiplashTradingFloor
Yesterday’s EURUSD reversal lower has been mostly rejected today, maintaining the confusing outlook. A similar fate awaited AUDUSD. Meanwhile, USDJPY has smashed through support.

Europe SlidesBespoke
Up until today, US investors had mostly shrugged off Europe's pullback, but today's technical breakdown in Germany seems to have awoken the bears. 

Vähittäiskaupan myynti kasvoi tammik 2,1% yoy – Tilastokeskus
Rakennuskustannukset nousivat helmik 0,8% yoy – Tilastokeskus
Palkkasumma kasvoi marras-tammik 1,8% yoy – Tilastokeskus
Inflaatio hidastui helmik 1,3% – Tilastokeskus
Kansantalouden tuotanto kasvoi tammik 2014 – Tilastokeskus
Tuotannon kasvu yllätti ekonomistin – Verkkouutiset