W/E: Weekly Support (updated)
EUROPE
EUROPEAN CENTRAL BANK
Draghi Takes Aim at
Euro Seen Too Strong for Comfort: Currencies – BB
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 Euro – BB
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-Changer – WSJ
Euro Rise Shows
Limits of ECB Words – WSJ
Exogenous shock from
artificially high euro – Sober
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
UKRAINE / RUSSIA
Russia counts cost as
West tightens sanctions noose – The
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 Asia – The
Diplomat
Putin has warned that U.S. action over Ukraine would have a boomerang
effect. Will the target be Asia?
Russia Says Kiev Not
in Control of Ukraine as Vote Looms – BB
Putin Deports
Executives for Speeding as Sanctions Loom – BB
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 Russia – NBC
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.
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.
UNITED STATES
MACRO
NUMBERS
Consumers Begin March Feeling More Gloomy – WSJ
Vital Signs: Consumers Hold Emotions in Check – WSJ
Confidence Fades; Misses By Most In 15 Months – ZH
Preliminary March Consumer Sentiment declines to 79.9 – Calculated
Risk
U.S. consumer sentiment
slips; bad weather eyed – Reuters
Core Producer Inflation Drops By Most In 9 Months – ZH
OTHER
Bond Update: Market
on alert over Ukrainian crisis – TradingFloor
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.
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.
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.
FINNISH
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