Yesterday, the ECB meeting was a key event in the financial markets. There were high trading activity and volatility on the EUR/USD currency pair. The regulator, as expected, reduced the deposit rate by 10 basis points to -0.50%. The Central Bank lowered its forecast for GDP growth and inflation in the Eurozone for the current and next years. The ECB plans to resume the quantitative easing program of 20 billion euros a month from November 1. The Central Bank has also introduced a multi-level system of applying deposit rates to help European banks. Donald Trump has criticized the Fed for a “strong” dollar after the ECB meeting.
Demand for “safe haven” currencies is still low enough amid optimistic news on the settlement of trade disputes between Washington and Beijing. The US President said that he did not exclude the conclusion of an interim agreement with China. We recommend following current information on this issue. Today, investors will assess the report on US retail sales.
The bearish sentiment prevails in the “black gold” market. Currently, futures for the WTI crude oil are testing the $54.75 mark per barrel. Today we recommend paying attention to data on oil rig count in the US at 20:00 (GMT+3:00).
Market Indicators
- Yesterday, the main US stock indexes closed in the green zone: #SPY (+0.35%), #DIA (+0.23%), #QQQ (+0.42%).
- The 10-year US government bonds yield has been growing. At the moment, the indicator is at the level of 1.79-1.80%.
The Economic News Feed for 13.09.2019:
- At 15:30 (GMT+3:00), statistics on retail sales will be published in the US.
