ECB’s Constancio says monetary policy will continue to keep a very accommodative stance

ECB VP Constancio out with a scheduled speech 17 Oct - even when mon pol is recalibrated The world economy is going through a period of sustained moderate growth. In particular, the cyclical recovery in the euro area is now stronger and broad-based, driven by a virtuous circle of employment creation and private consumption. All member countries

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BOE’s Ramsden says no QE reduction until bank rate at higher level

BOE's Ramsden Deputy Governor, Markets and Banking before the TSC 17 OCT Ramsden the warm-up act for governor Carney who's due to appear around 10.15 GMT - when time comes to unwind QE, it will be a poiority of mine to ensure it is done in a manner that ensures gilt market continues to function smoothly Watch it all

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UK inflation hits 3% as expected – GBP/USD slides

The UK was expected to report yet another rise in the annual level of inflation: from 2.9% in August to the round 3% level in September. The Bank of England’s goal is to have inflation between 1% to 3%. Core CPI carried expectations for remaining at 2.7%. The Retail Price Index (RPI) carried expectations for [...]

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Bullet Report: Top 5 things to know in the market today, October 17th

1. EUR/USD ended the day on a slightly heavy note yesterday on the back of a stronger-than expected Empire manufacturing index. With a relatively thin data calendar today we are probably in for yet another quiet session before the series of speeches from the Fed and ECB officials on Wednesday. USD/JPY gained last night with the cross rising above 112 on reports that US and North Korean diplomats may meet in Moscow later this week.

 

2. The Australian dollar was 0.15 percent lower at $0.7840 as its rally last week to a two-week high of $0.7898 on upbeat Chinese data lost momentum. Sterling slipped 0.1 percent to $1.3241, awaiting Bank of England Governor Mark Carney’s comments due later in the session for potential cues.

 

3. Gold prices fell in Asia on Tuesday as investors noted a stronger dollar and less appetite for safe-haven plays weighed on sentiment and as physical demand in India for the holiday season has failed to lift the market. Eventually prices dropped to $1290 in a rapid fashion during the US session as the markets started buying foo Dollars aggressively.

 

4. UK inflation data will be the main focus of the day. CPI is expected to finally hit 3% mark in September, solidifying the case for a BoE rate hike in November. But it should be noted that, that rate hike would only bring interest rate back to pre-Brexit referendum level.

 

5. Elsewhere, German ZEW economy sentiment and Eurozone CPI final will be featured in European session. US will release import price index, industrial production and NAHB housing index later in the day.

 

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USD REMAINS FIRM AGAINST MOST ALT-COINS AS IOT BREAKS ABOVE RESISTANCE LINE.

General Notes USD remains firm across the board NEOUSD TECHNICAL ANALYSIS Weak price movement and horizontal consolidation continues as bears and bulls size each other up. As a matter of fact, bull volumes remain muted for the second day in a row with price action stuck within a tight $4 range inside Sunday's Hi-Los. The … Continue reading USD REMAINS FIRM AGAINST MOST ALT-COINS AS IOT BREAKS ABOVE RESISTANCE LINE.

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