We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇯🇵 Consumer Confidence Actual: 24.0 Previous: 21.6 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇯🇵 Housing Starts YoY due at 05:00 GMT (15min) Expected: -12.1% Previous: -7.6% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇯🇵 Consumer Confidence due at 05:00 GMT (15min) Previous: 21.6 https://www.dailyfx.com/economic-calendar#2020-05-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.14%, while traders in US 500 are at opposite extremes with 78.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RqW7nbBjB3
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇪🇺EUR: 0.14% 🇦🇺AUD: 0.12% 🇬🇧GBP: 0.07% 🇳🇿NZD: -0.06% 🇨🇦CAD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4JS19zN9h3
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.04% Wall Street: -0.05% FTSE 100: -1.04% France 40: -1.29% Germany 30: -1.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KJYkjRqknS
  • USD/ZAR: A rally from here could be an important tell as to whether the level seen as support previously (17.76) will turn into a point of resistance for sellers to lean against. Get your $USDZAR technical analysis from @PaulRobinsonFX here:https://t.co/TNsQ4JJu6E https://t.co/GMxZj0n8XP
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/j71z9WYeBm
  • My trading video for today: "S&P 500 and $AUDUSD Await Trump China Presser, $EURJPY Climbs on Stimulus" https://www.dailyfx.com/forex/video/daily_news_report/2020/05/29/SP-500-and-AUDUSD-Await-Trump-Statement-EURJPY-Climbs-on-Stimulus.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • Wall Street Futures Update S&P 500: -0.21% Dow Jones: -0.30% NASDAQ 100: -0.12% (delayed) - BBG
Hawkish Comments from Bundesbank President Positive for Euro

Hawkish Comments from Bundesbank President Positive for Euro

2017-08-23 14:42:00
Martin Essex, MSTA, Analyst
Share:

Talking Points

- The president of the German Bundesbank, Jens Weidmann, does not see any need for an extension of the ECB asset-purchase program beyond the current end-date of December.

- But while calling for ‘a quick exit’, he argues against an abrupt end to bond buying to avoid turmoil in the markets.

Check out our EUR Trading Guide: it’s free and has been updated for the third quarter of 2017

Bundesbank President Jens Weidmann, a consistent hawk who is also a member of the European Central Bank’s rate-setting Governing Council, has told a German newspaper that does not see any need for an extension of the ECB’s asset-purchase program beyond the current end date of December 2017 given the current inflation outlook.

In an interview with Börsen-Zeitung, Weidmann argued for “a quick exit” that would potentially strengthen the Euro, although his views are unlikely to sway more dovish members of the Governing Council or its President Mario Draghi. Moreover, he spoke out against an abrupt end to bond buying to avoid turmoil in the markets.

Given the ECB’s June inflation forecast “I do not think there is any immediate need for further action in the coming year, especially not to continue the purchase program,” Weidmann said. There is agreement that the purchases “will not be finished tomorrow” and that what is needed is an “orderly exit”, he added, while making it clear that he would “make the exit quickly”.

Weidmann stressed that a discussion on whether to cut back, or “taper”, the ECB’s monetary stimulus program for the Euro-Zone economy takes place at every monetary policy meeting. However, it is widely believed that the ECB will decide on tapering at one of its two next meetings in September and October so that it can begin early in the New Year.

The Bundesbank President expressed sympathy for a predefined exit plan, saying “a clear plan has advantages in communicating with the markets and the public at the exit” and said bond purchases are gradually reaching their boundaries. “A change in the parameters, which I think is partly easy to discuss in some cases, would lead to considerable negative consequences,” Weidmann said.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

For help to trade profitably, check out the IG Client Sentiment data

And you can learn more by listening to our regular trading webinars; here’s a list of what’s coming up

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.