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Thursday, January 19

19th Jan - ECB continues with dovish stance

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EU28 current account surplus €15.8 bn – Eurostat
House prices up by 3.4% in the euro area – Eurostat

Draghi Bingo Is ECB Watchers’ Game as Stimulus Boosts Prices – BB
First tightening of euro area credit standards in three years – Pictet

Monetary policy decisions – ECB
Rates Unchanged, QE At €60BN But May Revise It Higher Or Lower – ZH
Introductory Statement – ECB
EUR Plunges, Draghi highlights "downside risks", downplays inflation – ZH
ECB Keeps Stimulus on High Even as Economy Picks Up – BB
ECB Leaves Bond-Buying Program Unchanged as Inflation Gains – BB
ECB maintains stimulus as growth picks up speed – Reuters
Draghi Lets Steam out of Euro – Marc Chandler
ECB review: Dovish bias intact – Nordea
Dovish Draghi plays down rise in inflation – ABN AMRO

How We’ll Know if Trump Is Making America Great AgainBB
Here are the 10 best indicators to judge the impact of his policies in the next four years and determine whether the economy lives up to Trump’s pre-election promises.

Housing Starts increased to 1.226 Million Annual Rate in December – Bill McBride
Housing Starts in U.S. Rose More Than Forecast in December – BB
Weekly Initial Unemployment Claims decrease to 234,000 – Bill McBride
Filings for U.S. Jobless Benefits Near Lowest Since 1970s – BB
U.S. jobless claims fall unexpectedly in latest week – Reuters
Initial Claims Crash To 44 Year Lows – ZH
Philly Fed Soars As Prices Paid Spike To 5 Year Highs – ZH

Trump fear and loathing in DavosPolitico
The ‘globalists’ gathered in the Swiss Alps don’t know whether to cry, panic or laugh about the incoming American president.

Danske DailyDanske Bank

A hawkish twist from Draghi today? * Yellen: economy warrants gradual rate hikes * USD, awaiting the Trumpening * NOK & SEK: we remain optimistic

Morning MarketsTF
It was a welcome return to fundamentals overnight after a puffed-up Janet Yellen signalled an earlier rate rise than expected on the back of a 2.1% rise in inflation in December. The pervasive influence of politics will soon reassert itself nevertheless as we build into Friday's big show in Washington D.C.

From the Floor
Hawkish Yellen pushes USD and yields up

Daily Market CommentMarc Chandler
Dollar Gives Back Most of Yellen-Inspired Gains

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

Five Things You Need to Know to Start Your DayBB

10 things you need to know before the opening bellBI

Global Stocks Dip; Bond Yields, Dollar Rise After Yellen's Rate Guidance; All Eyes On Draghi


FX UpdateTF
USD bulls found the catalyst they were looking for yesterday and snapped up dollars on somewhat hawkish comments from Fed chair Janet Yellen and the Fed Beige Book. Elsewhere the Bank of Canada’s Poloz waxed cautious sending the loonie into a swan dive.

Luvassa jotain draghisempaa? * Odotamme Kiinan BKT-kasvun hidastuneen hieman vuoden 2016 viimeisellä neljänneksellä * Yellen on vakuuttunut USA:n talouden vahvasta kehityksestä * USA:n inflaatio kiihtyi joulukuussa odotetusti 2,1 prosenttiin

CIA:n salaiset Suomi-raportit nyt luettavissaVerkkouutiset

Kulutus, säästäminen ja talouskasvu Roger Wessman

Trump on jo nyt ennätyksellisen epäsuosittu - ja niin olisi HillarykinTämä Päivä