You are here: Home > Forex > ETX Capital Daily Market Bite, 28th February, 2013: Markets Steady Thanks To Fed And ECB Support
ETX Capital Daily Market Bite, 28th February, 2013: Markets Steady Thanks To Fed And ECB Support
February 28, 2013 11:40 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
February 28th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
Stock markets are pouring on modest gains Thursday after central bankers Ben Bernanke, head of the Fed and Mario Draghi, head of the ECB, both defended their easing policies, lending support to risk-appetite overnight on Wall Street and in Asia.
Bernanke at his second day on Capitol Hill again talked up the Fed’s ultra-easing policy stance, quashing some of the fears sparked by the Fed’s last meeting minutes that the central bank may look to slow down QE. Draghi meanwhile reiterated importance of conditionality for any nation that wants to tap into the ECB’s bond-buying programme.
His comments were in light of the inconclusive Italian election outcome earlier this week which has raised the spectre of bailouts for Spain and Italy as bond yields are under pressure. This renewed uncertainty which is likely to persist dents the outlook for the euro zone in the mid-to-near-term for investors who are eyeing key levels on Italian and Spanish 10 year bond yields – moves above the 5% mark on Italy’s and above 6% for Spain’s would be deemed as unsustainable in the eyes of many market participants.
It would only then be a matter of time before Spain’s PM Rajoy could look at calling the ECB to activate the OMT. Stateside, the US continues to print a string of strong economic data although caution will creep in with the upcoming sequesters.
Looking to today’s session German jobs data will be eyed closely together with CPI from the country later. The euro zone as a whole print harmonized CPI while in the US, we have weekly jobless claims, the 2nd estimate of 4Q GDP which will be under the spotlight ahead of the budget battles in Washington. We also have Chicago PMIs.
Visit http://www.etxcapital.co.uk/
Find us on social media to be kept up to date with the latest ETX Capital news:
Facebook: https://www.facebook.com/#!/ETXCapitalGroup
Twitter: https://twitter.com/#!/etxcapital
LinkedIn: http://www.linkedin.com/company/445425?trk=tyah
ETX Capital’s RSS site: http://my.etxcapital.co.uk/
Related Posts: