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EUROPE
Turkey to suspend
European Convention on Human Rights – Politico
EUROPEAN
CENTRAL BANK
Draghi May Flag Action
Ahead as ECB Meets Under Brexit’s Shadow – BB
Press release Monetary
policy decisions – ECB
Introductory statement
to the press conference – ECB
ECB holds off on
post-Brexit stimulus – Politico
Draghi Does not Surprise
and Euro Edges Away from $1.10 – Marc
Chandler
ECB keeps door open to
easing after holding rates steady – Reuters
Draghi Signals ECB May
Boost Stimulus Later This Year – BB
ECB to ease in September – ABN
AMRO
ECB review: Door remains
open for more easing – Danske
Bank
ECB on hold, rendez-vous
in September – Pictet
It’s not just
non-performing loans… - FT
Mario Draghi may soon be
thankful for Brexit – Politico
Low visibility keeps the
ECB on hold for now – Nordea
UNITED KINGDOM
Britain Negotiates Its
EU Exit With a Weak Hand – View
/ BB
How to prevent Brexit
from damaging the EU – Paul
De Grauwe
Article 50 is a trap…
democracy needs open negotiations – Current
Moment
OTHER
G-20: Five Ways to Spark Growth – IMF
Matt Levine: HSBC Currency Traders Got Greedy on
Christmas – BB
REGULARS
Danske Daily
– Danske
Bank
Eye-Opener
– Nordea
Merkel backs May, new low in
Turkey’s lira, all eyes on ECB * Merkel backs May’s Article 50 timeline * State
of emergency declared in Turkey * How might ECB tweak its QE parameters?
Morning Markets
– TF
The Asian equities markets were
clearly in a strong mood today after hopes there would be more stimulus in the
near future. As for the Europeans they can only hope and wait for the European
Central Bank to make a similar gesture this morning.
Euro wrap-up
– Daiwa
Daily Market Comment
– Marc
Chandler
Monetary Policy Expectations are
Driving Foreign Exchange
Daily Press Summary
– Open
Europe
Merkel: UK’s exit from the EU and
its future relationship with it should be discussed in parallel * Bank of
England does not yet see any evidence of “sharp general” slowdown in UK economy
following Brexit * Italian government considers private sector solution for
struggling banks as Five Star Movement calls for nationalization * NI Secretary
states that Common Travel Area is Brexit priority * Farage to go on European
roadshow to encourage other 'independence' movements * European Consumer
confidence down post-Brexit * Estonia to take over rotating EU presidency in
place of Britain * Turkey declares three-month state of emergency as Erdoğan
vows to clear “viruses” within armed forces * US Treasury Secretary hopes
Turkish turmoil will increase urgency on Greek debt relief * NATO Secretary
General: “America, you’re not alone in this fight” * UK set to be bound by new
EU emissions targets
Brussels Playbook
– Politico
Blow-back on climate — Commission
takes on China
US Open – ZH
Yen Soars, Stocks Slide After Kuroda
Says "No Need Or Possibility For Helicopter Money"
Frontrunning
– ZH
FX Update
– TF
The yen dropped further overnight on
media reports of larger than expected stimulus. Today the spotlight swings over
to the ECB where expectations for anything of impact are minimal. Is the market
too complacent?
From the Floor
– TF
The Reserve Bank of New Zealand
issued dovish noise on Thursday apparently queuing up an August rate cut and
weakening the NZD while markets' attention now swings to the European Central
Bank's governing council meeting though no major fireworks are expected from
the ECB.
FINNISH
Aamukatsaus – Nordea
Pankkikyselystä
tukea EKP:n rahapolitiikalle * Britannian työttömyys matalimmillaan yli
kymmeneen vuoteen * Philadelphian teollisuuden luottamuksen odotetaan laskevan *
Britannian kesäkuun vähittäismyynti julkaistaan