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EUROPE
EU28 current account
surplus €15.8 bn – Eurostat
House prices up by 3.4%
in the euro area – Eurostat
EUROPEAN
CENTRAL BANK
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
UNITED STATES
How We’ll Know if Trump Is Making America Great
Again – BB
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
OTHER
Trump fear and loathing
in Davos – Politico
The ‘globalists’ gathered in the Swiss Alps don’t know whether to cry,
panic or laugh about the incoming American president.
REGULARS
A hawkish twist from Draghi today? *
Yellen: economy warrants gradual rate hikes * USD, awaiting the Trumpening * NOK
& SEK: we remain optimistic
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.
Hawkish Yellen pushes USD and yields
up
Dollar Gives Back Most of
Yellen-Inspired Gains
Global Stocks Dip; Bond Yields,
Dollar Rise After Yellen's Rate Guidance; All Eyes On Draghi
Frontrunning
– ZH
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.
FINNISH
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