ECB President Mario Draghi says OMT Bond-buying Programme Designed to Save the Euro
Speaking ahead of today’s important German hearing on the legality of
his proposed OMT bond-buying programme, ECB President Mario Draghi
announced that the scheme would only be used to save the Euro, rather
than to save failing nation states.
In order to calm the waters ahead of the potentially bruising
encounter Mario Draghi released a speech defending the purpose of the
OMT programme. Draghi said that: “If there is a confidence crisis in the Euro area which is threatening the solvency of the countries…we are ready to intervene.
But we will not intervene to ensure the solvency of countries if they are profligate”
German Court Says Ruling Immune To ECB's Bond Buying Success
The success of the bond-purchase program of the European Central Bank
will have no impact on the ruling whether the measure was constitutional
or not, the German Constitutional Court said on Tuesday. Germany's
highest court in Karlsruhe is holding a two-day hearing to decide
whether the ECB's bond buying program called the Outright Monetary
Transactions (OMT) violates the German law.
Just found good article: Where Are Banks Buying And Selling In The Forex Market?
London is one of the Forex trading hot spots on the
planet. I live in Chicago but also spend time in London. When I am with
London traders, I notice they are trying to make so many different
strategies work in the Forex market, yet I don’t meet anyone who is
achieving the success they are in search of. They don’t realize the key
factor in trading is proper market timing. Market Timing, the ability to
identify market turning points and market moves in advance, before they
happen, with a very high degree of accuracy. It is also the ability
to identify where market prices are going to go, before they go there.
The main reason you would want to know how to time the markets turning
points in advance is to attain the lowest risk, highest reward, and
highest probability entry into a position in the market.
Just 2 news about Europe ... those news events are not high/medium impacted ones but anyway - it is related to the situation in EU in general.
The first one: Portugal HICP Inflation Rises More Than Expected In May
Portugal's EU measure of inflation accelerated more-than-expected in May, after slowing in the previous month.
The second news: Iceland Central Bank Maintains Interest Rate Again
Iceland's central bank left its interest rates unchanged for the fifth time in June.
The most recent indicators of demand suggest that the economic recovery
is developing broadly in line with forecast, the bank noted. Meanwhile,
underlying inflation and inflation expectations have declined as well
but remain above target, it added.
World Bank Cuts Global Economic Outlook
The World Bank lowered its growth forecasts for the global economy on
Thursday, citing deeper-than-expected recession in the euro area and
muted growth in developing countries. Releasing the June edition of the
Global Economic Prospects, the lender said it now expects the world
economy to grow 2.2 percent this year, decelerating from the 2.3 percent
expansion in 2012
We are going to have Retail Sales now for USD ... so just an some usefull information about
2013-06-13 12:30 GMT | [USD - Retail Sales]
actual > forecast is good for currency (USD in our case). Previous value was 0.1; forecast = 0.4. Core value: previous: -0.2 and forecast = 0.3%
Retail Sales in U.S. Probably Climbed on Pickup in Car Purchases
in the U.S. probably increased in May by the most in three months as
Americans took advantage of cheap borrowing costs to purchase new cars,
economists said before a report today.
The 0.4 percent gain would follow a 0.1 percent advance in April, according to the median
forecast of 83 economists surveyed by Bloomberg. Other reports may show
little change in first-time jobless claims last week or in the cost of
imported goods in May.
Just something to read at night ... - Don't feed the trolls? It's not that simple
In many online circles, the most common piece of advice is “Don’t
feed the troll(s),” which serves as both response to and apology for all
kinds of online antagonism.
Under this logic, trolls are like great white sharks and their target’s
reactions like chum: the more you throw, the more worked up the shark
will get (and the more likely it is that other sharks will smell the
blood in the water and come join the party). Stop throwing chum, and
eventually the shark will lose interest and leave
We are going to see USD PPI today:
2013-06-14 12:30 GMT | [USD - PPI core]
actual > forecast is good forr currency (currency is USD in our case). Past data is 0.6%, forecast is 1.4%, actual data will be uploaded here at 12:30 GMT time today (14:30 metaquotes demo server time).
Friday preview: Eurozone CPI and US PPI due out :
Over on the other side of the Pond will be the US producer price index
(PPI), which measures selling prices that producer charges for goods.
The consensus of analysts expects a pick-up in the annual rate to 1.4%
in May, up from an increase of 0.6% in April.
The PPI is often seen as a good indicator of inflation given that
producers tend to pass on increasing costs to consumers which result in
higher retail prices.
actual for right now is 1.7% - read from the source
The Producer Price Index for finished goods rose 0.5 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods fell 0.7 percent in April and 0.6 percent in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods declined 0.1 percent in May, and the crude goods index advanced 2.2 percent. On an unadjusted basis, prices for finished goods moved up 1.7 percent for the 12 months ended May 2013.