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21 Jan 2016
Key events ahead: watch ECB - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank, among other events, explained that today we turn to the ECB.
Key Quotes:
"The market expectation is no change on the policy front, but the Governing Council must be looking on nervously at current events. There is likely to be a sharp downward revision to inflation projectionsà la Japonaise that might open the door to a further 10bp cut in the deposit rate in March. (After all, it’s either that or deal with the deep-rooted symptoms that drove us to a coach-load of Davos billionaires, which arguably exceeds even the ever-broadening remit of a modern central bank).
Apart from that we have the US Philly Fed survey – will it join the list of downside surprises of late? – and Eurozone consumer confidence for January. (Ironically, the former is seen unchanged at -5.9 and the latter at -5.7: how much we all have in common).
However, the market is also going to be deeply interested in itself today. Time for more bear fishing?"
Key Quotes:
"The market expectation is no change on the policy front, but the Governing Council must be looking on nervously at current events. There is likely to be a sharp downward revision to inflation projectionsà la Japonaise that might open the door to a further 10bp cut in the deposit rate in March. (After all, it’s either that or deal with the deep-rooted symptoms that drove us to a coach-load of Davos billionaires, which arguably exceeds even the ever-broadening remit of a modern central bank).
Apart from that we have the US Philly Fed survey – will it join the list of downside surprises of late? – and Eurozone consumer confidence for January. (Ironically, the former is seen unchanged at -5.9 and the latter at -5.7: how much we all have in common).
However, the market is also going to be deeply interested in itself today. Time for more bear fishing?"