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Market Recap – The ECB week

Monday, September 9, 2019 10:39 AM GMT

Financial markets are turning their focus to Thursday’s ECB meeting. Following this year’s Jackson Hole summit, it would be the third Central Bank to announce its monetary policy. The RBA (Australian) and the BOC (Canadian) left their policies and main rates unchanged communicating that the current degree of stimulus is appropriate. On the other hand, the ECB is expected to announce the size and the composition of a potential new asset purchase program. European rates will remain at present or lower levels at least until June 2020, was the July’s communication.

In the regional elections in Russia, where many opposition candidates have been refused to participate and protests against these anti-democratic practices have been held, the candidates supported by President Putin, continue to enjoy a 26 seat majority in the 45 seats parliament of Moscow. Putin continues enjoying a 60% popularity rating.

Macro releases: The week began with an unexpected decrease of Chinese exports and a significant increase of the Australian home loans m/m. Note that US-China trade is plummeting (US imports from China -16% y/y and US exports to China at -22%). Other than the UK’s GDP, today there is no other potentially market moving release. Full economic calendar is here.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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