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  • #872,201
  • Jan 24, 2014 10:38am Jan 24, 2014 10:38am
But the mood has brightened considerably.
Yes, the economy in the monetary union is growing again, but the growth is not uniform and the unemployment rate, at over 12%, is still very high. Another positive sign is that this recovery, which was originally driven by exports, is now gradually, slowly, spreading to domestic demand. We are now at a stage like that of the US a year and a half ago. The survey data are strong, but we don’t yet have a continuous stream of strong hard data. That’s a familiar pattern in economic recoveries after a deep crisis.
  • #872,202
  • Jan 24, 2014 10:38am Jan 24, 2014 10:38am
Quoting Vachus
{quote} Please don't mention it ... its kind of our duty!
Until there is no ammunitions left...and support breaks
COT: The precious data ignored
  • #872,203
  • Jan 24, 2014 10:40am Jan 24, 2014 10:40am
What must happen so that euro area finds its way back to sustainable growth?
Countries should not unravel their budget consolidation efforts, but the consolidation should become more growth-friendly than what we have seen so far. In other words: less current expenditure and lower taxes and more expenditure on infrastructure and on human capital. All this should be accompanied by the implementation of structural reforms. Only structural reforms will bring Europe back onto a sustainable growth path.
And what contribution can the ECB make to more growth?
The ECB contribution is to maintain price stability. Sustainable growth is possible only with stable prices. We have plenty of instruments to ensure price stability. Some of them we have already used, such as forward guidance. And we have shown that we can, if necessary, react quickly. Last November, for example, we did not wait. We saw that the inflation path was lower and we acted and, as a result of it, the credibility of our forward guidance became stronger. What we do not see, frankly, is deflation. Inflation expectations are firmly anchored in the medium term.
  • #872,204
  • Jan 24, 2014 10:40am Jan 24, 2014 10:40am
i have EU 27 lot shorts and now ECB President Draghi going to decide that m going to trade after tonight or not ... just praying
  • #872,205
  • Edited 10:53am Jan 24, 2014 10:42am | Edited 10:53am
...this is the place to be in ! ...so enjoy it in full screen... -)
Inserted Video


...perfect on a big screen 60"
Attached Image
  • #872,206
  • Jan 24, 2014 10:44am Jan 24, 2014 10:44am
Why are low prices a risk if inflation expectations are so well anchored? And why can the ECB live better with an inflation rate of just under 2% than with one of 0.5%?
There are several reasons for this. First, we have learnt from Japan’s experience in 1990s that it is much more difficult to operate monetary policy when inflation goes close to zero. Moreover, due to measuring errors, during periods of very low inflation you may think that inflation is still in positive territory, whereas in fact it might be below zero. Finally, for countries that want to adjust their external imbalances it is much more difficult to become competitive again if you have very low inflation compared to near to 2% inflation. If there is no inflation, they have to lower the levels of their nominal wages and prices. That is why most central banks target inflation of just under 2%.
  • #872,207
  • Jan 24, 2014 10:44am Jan 24, 2014 10:44am
price traded in a close range under 6690 during last hours , any attempt to sell higher was ommitted and any attempt to buy lower was available . my bet is for more downside.
Get Rich or Die Tryin
  • #872,208
  • Jan 24, 2014 10:44am Jan 24, 2014 10:44am
Quoting kuroro001
{quote} Until there is no ammunitions left...and support breaks
We are heading to late NY on Friday ... which is the most manipulated part of trading sessions ! So, someone will get lucky and an other will hold the bag. My personal preference is, who are holding shorts are most likely will hold the bags on this part.
"It's the Margin, Stupid."
  • #872,209
  • Jan 24, 2014 10:46am Jan 24, 2014 10:46am
typical ny play.. holding it within 10 pips off decision level...
  • #872,210
  • Jan 24, 2014 10:46am Jan 24, 2014 10:46am
Are you more concerned about deflation than inflation?
Actually, I would say neither. The risks of deflation or inflation are limited at this point in time.
  • #872,211
  • Jan 24, 2014 10:49am Jan 24, 2014 10:49am
The financial markets have clearly calmed down since your famous speech in London in summer 2012, in which you promised to do whatever it takes to preserve the euro. Would you say that your words back then have prevented the euro area from breaking apart?
The stress in the markets since then has indeed decreased dramatically. My words certainly had a calming effect. But the effect has lasted so long only because, shortly before that, the European governments had agreed on banking union. The trust this indicated in the monetary union has helped the effect last until today
  • #872,212
  • Jan 24, 2014 10:51am Jan 24, 2014 10:51am
Quoting MaxDoom
{quote} I am still sitting on shorts from 3717 tempted to hold over the weekend
You know my view on EUR, but I'm reducing significantly my short EU exposure (already took some off, as well as SP500, EJ, UJ & oil shorts and will readjust before the close). This Argentina fueled risk-off espisode (and price shake) and Davos WE forum still going on after market close ...
  • #872,213
  • Jan 24, 2014 10:51am Jan 24, 2014 10:51am
Quoting Vachus
{quote} We are heading to late NY on Friday ... which is the most manipulated part of trading sessions ! So, someone will get lucky and an other will hold the bag. My personal preference is, who are holding shorts are most likely will hold the bags on this part.
They could break down a bit later...but it shouldn't be sustainable
COT: The precious data ignored
  • #872,214
  • Jan 24, 2014 10:52am Jan 24, 2014 10:52am
But you received a lot of criticism shortly afterwards, particularly in Germany, when you announced the OMT programme, under which the ECB can theoretically purchase unlimited euro area government bonds under certain conditions. It was said that, in doing so, you would be carrying out monetary financing, which is prohibited.
OMTs were not designed to finance government budget deficits, but, in support of our mandate of maintaining price stability, to remove the risk of a break-up of the euro area. We took a lot of precautions when designing OMT that demonstrate that the programme has nothing to do with monetary financing. For example, we would only buy on the secondary market; only buy bonds with short maturities and not necessarily keep the bonds until maturity. But the most important thing is that OMTs are bound by strict conditionality. This conditionality makes sure that countries put their own houses in order as far as budget financing is concerned. A country that is supported by OMT would have to have a reform programme, agreed by the Eurogroup. If a country no longer stuck to the requirements of the programme, OMT purchases would automatically be stopped.
  • #872,215
  • Jan 24, 2014 10:53am Jan 24, 2014 10:53am
i think ill take my little profits before he opens up his mouth... on the other side got feelings for break out lower..
  • #872,216
  • Jan 24, 2014 10:59am Jan 24, 2014 10:59am
Death to EUR and JPY... The GBP and USD must stand strong!
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #872,217
  • Jan 24, 2014 11:01am Jan 24, 2014 11:01am
Anyone got link to live stream? tx.
  • #872,218
  • Jan 24, 2014 11:01am Jan 24, 2014 11:01am
Quoting attila
{quote} this one too.. give it some time.. {quote}

Patience, patience, patience...
  • #872,219
  • Jan 24, 2014 11:02am Jan 24, 2014 11:02am
Quoting Dr.Zain
{quote} U.S. stocks slumped, joining a two-day sell off in global equities, as continued volatility in emerging-market stocks and currencies prompting investors to flee riskier assets. The Dow Jones Industrial Average slid 153 points, or 1%, to 16044. Thursday, the Dow slumped 176 points to a one-month low. The S&P 500 index dropped 20 points, or 1.1%, to 1808. The Nasdaq Composite Index shed 51 points, or 1.2%, to 4168. Concerns about China's economy, global central bank stimulus and U.S. corporate earnings led to selling in risky assets this week....
So EU assets do not considered more risky anymore?
  • #872,220
  • Jan 24, 2014 11:02am Jan 24, 2014 11:02am
Quoting ArekJP
Anyone got link to live stream? tx.

http://www.weforum.org/videos/path-crisis-stability
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
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