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EUROPE
Spain, and how EZ
has to get real about countercyclical policy – Simon
Wren-Lewis
EUROPEAN CENTRAL BANK
ECB
signals more QE – ABN AMRO
ECB
will continue QE beyond Sep 2016 – Danske
Bank
Draghi
gives dovish present on his birthday – Carsten
Brzeski
5
Takeaways from the ECB’s September Meeting – WSJ
Draghi
Unveils Revamped QE Program as ECB Downgrades Outlook – BB
ECB
flags beefed up QE as growth, inflation outlook fades – Reuters
The
ECB is beginning to face a QE dilemma – Not
a Yes Man
Euro
spanked as ECB cuts forecasts, warns of downside risks – Marc
Chandler
ECB:
Ready, willing and able – Nordea
ECB
leaves rates unchanged, increases bond issue limit – Handelsbanken
UNITED STATES
5 Things to Watch in the
August Jobs Report – WSJ
Strong Jobs
Report May Not Be Enough to Spur Fed to Action – WSJ
The Jobs
Report’s August Problem – WSJ
OTHER
G10 FX Weekly – Dovish
ECB weighs on euro – ABN
AMRO
Dovish ECB pushes the euro lower * Neutral Riksbank boosts Swedish krona,
however further stimulus set to weigh on SEK * The Australian dollar dips below
0.70 on weak data and we expect further weakness ahead
New financial forecasts – Nordea
In our Economic Outlook released yesterday, new forecasts for the Nordic
countries and the global economy were published. The situation in the Nordic
countries is mixed, with strong growth but low inflation in Sweden, gradual
recovery in Denmark, continued slow growth and a weak currency in Norway, and
hopefully the recession in Finland bottoming out. Economic growth in the US
continues at a solid pace and has firmed in the Euro zone.
REGULARS
U.S. Stocks Rally, Changing Direction Again
Will the ECB Crank Up QE?
Stocks Have Seen This Volatility Before
Euro rates update – Nordea
Eye-Opener – Nordea
ECB to stay put * When negative is not enough – another Riksbank cut *
Danish FX intervention going way up * US yields higher on ADP * FX markets calm
awaiting Friday’s US employment figures
European Central Bank chief Mario Draghi is the man in the middle today
as markets await his press conference at 1230 GMT and attempt to decipher where
he stands on the anxiety scale about flagging Eurozone inflation. Elsewhere,
Chinese markets are taking some time out to celebrate the WWII victory over
Japan and Sweden awaits its latest monetary policy statement.
Daily FX Comment – Marc
Chandler
Other Developments that Shouldn't be Lost in Focus on ECB
Brazil's economy is still not doing well and neither is the real.
Foreigners are fleeing the government bond market and the Brazilian weakness
also impacts coffee prices negatively.
Daily Press Summary – Open
Europe
France, Germany and Italy make joint call for “fairer distribution” of
refugees *
Government compromise over EU referendum purdah may not be enough to
satisfy rebels * New Democracy overtakes SYRIZA in new opinion poll * Germany,
UK and France challenge EU over new securities regulation * European Commission
considers fine-tuning contested investor protection clause in EU-Canada free
trade deal
Brussels Playbook – Politico
Shocking refugee images — Here come the farmers
With China's Market Chaos Offline, Futures Levitate On ECB Easing Hopes
We heading into a
critical couple of session for the major currencies ahead of a three-day Labor
Day weekend in the US, with today’s ECB meeting and key US data on tap over the
next 30 hours, all in an environment of extremely nervous risk sentiment.
The European Central
Bank's policymakers could be forced today to signal the bank is lowering its
inflation forecast or preparing to add fuel to its quantitative easing (QE)
program, which would soften the euro and possibly boost riskier asset classes,
such as south European bonds and corporate bonds. Markets get a respite today
from the recent Asian whiplash, as Chinese markets are closed today and
tomorrow for a public holiday.
FINNISH
Aamukatsaus
– Nordea
Suomen viennin nopeaa piristymistä on turha odottaa
* Odotamme Riksbankin laskevan ohjauskorkoaan * EKP:n rahapolitiikka pysyy
ennallaan * USA:n osakemarkkinoiden nousu tuki eilen dollaria
Talousasiantuntijoilta voimakasta eurokritiikkiä – ”tyhmä päätös”,
”Suomi umpisolmussa” – Suomen
Uutiset