UK PM Theresa May wins confidence vote with 200 out of 317 Tory MPs supporting her to stay on as leader
BREAKING UK PM Theresa May wins confidence vote with 200out of 317 Tory MPs supporting her to stay on as leaderBREAKING….
ECB Stimulus’s Mixed Legacy: Economic Success, Political Fiasco – ECB will say goodbye to quantitative easing, but when will it hike rates?
The European Central Bank is fully expected on Thursday to affirm its plan to end its bond-buying program at year-end. But investors expect less clarity when it comes to signaling when Mario Draghi and fellow policy makers will move to nudge up ultra-low interest rates.
“We expect no new guidance on a first rate hike,” said Piet P.H. Christiansen, senior ECB/euro area analyst at Danske Bank, in a note.
The ECB’s policy statement is expected to retain its commitment to keep rates at present levels at least through the summer of 2019. The ECB’s key lending rate, known as the refi rate, stands at 0%, while the rate on deposits held overnight at the central bank is at negative 0.4%. Read More @ https://www.marketwatch.com/story/ecb-will-say-goodbye-to-quantitative-easing-but-when-will-it-hike-rates-2018-12-12
WHAT IS THE TECHNICAL CHARTS SAYING FOR THE USD?
With Fed expected to slow rate hikes, markets raise stakes for Europe’s next move
- With the Fed’s rate hiking expectations recently tamped down, markets turn their focus Thursday to the European Central Bank, which is expected to reaffirm the end of its easy money, asset buying program.
- But with worries about Italy’s budget, the violent reaction to austerity in France, and the seemingly unanswerable questions about the U.K.’s exit from the EU, investors will be looking hard at what the ECB has to say about its economic outlook, rate-hiking plans and its balance sheet. Read More @ https://www.cnbc.com/2018/12/12/with-fed-expected-to-slow-rate-hikes-markets-raise-stakes-for-europe.html
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- 4.30pm – Swiss will release their monetary policy and libor rate – expect volatility for CHF pairs.
- 5.00pm – SNB will have their press conference – market expected to see quite a good volatility for CHF pairs
- 8.45pm – ECB goes to action with Main re-financing rate – expect volatility.
- 9.30pm – Market action will start with ECB Mario Draghi expected to release the “bomb” end of QE – will it happen – market prepares for massive volatility for EURO PAIRS. Be cautious spreads are expected to widen during the news.
The market will be active from 4.30pm this evening – traders be cautious and don’t overtrade and over-expose your position.
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