IronFX Daily Commentary by Charalambos Pissouros | 11/03/2016
March 11, 2016 10:00 am
ECB: No half measures this time • ECB delivered a stimulus package much more aggressive than markets expected. • All 3 interest rates were cut, QE increased by 20bln and will now include corporate bonds. Four TLTROs were launched as well. • EUR/USD plunged on these news but then reversed and rallied after Draghi said the Bank does not anticipate to cut interest rates further.
PBoC may exchange bad loans for ownership stakes • China is preparing regulations that will allow lenders to give the PBOC the bad loans in exchange for ownership stakes. • This is another effort to revive growth and stabilize the markets that may keep sentiment elevated.
Today: • Germany: Final CPI for Feb. • UK: Trade balance for Jan. • Canada: Unemployment rate for Feb. is exp. to remain unchanged.
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ECB: No half measures this time
• ECB delivered a stimulus package much more aggressive than markets expected.
• All 3 interest rates were cut, QE increased by 20bln and will now include corporate bonds. Four TLTROs were launched as well.
• EUR/USD plunged on these news but then reversed and rallied after Draghi said the Bank does not anticipate to cut interest rates further.
PBoC may exchange bad loans for ownership stakes
• China is preparing regulations that will allow lenders to give the PBOC the bad loans in exchange for ownership stakes.
• This is another effort to revive growth and stabilize the markets that may keep sentiment elevated.
Today:
• Germany: Final CPI for Feb.
• UK: Trade balance for Jan.
• Canada: Unemployment rate for Feb. is exp. to remain unchanged.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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