Unsurprising decision by the ECB

  • Macro-economy

The ECB has done pretty much what was expected of it, judging by the small drop in bond yields and the stability of the euro that followed its announcements (EUR/USD @ 1.1830). It will start to reduce the additional purchases of securities decided in March, after having revised its growth and inflation forecasts upwards, but remains very cautious and convinced that the inflationary surge will remain temporary (see our News published yesterday).

The decline in US jobless claims is accelerating, which seems to confirm that the slowdown in job creation seen in August will not last. UK GDP was almost flat in July (+0.1%) due to quarantines imposed by the recovery of the epidemic. French industrial production rose again in July, but remains 5% below its pre-crisis levels (-27% in the automotive sector).

On the menu today, a few speeches by central bankers from the Fed and the ECB and the US producer price figures, still expected to rise in August

Share this news :

You might also read :

ES-gas
April 20, 2022

Slight price drop on the curve

European spot gas prices rebounded yesterday from the lows recorded over the Easter weekend. Curve prices closed slightly lower, but well above their lows of…
ES-oil
April 14, 2021

Stocks diverge

ICE Brent prompt contract reached 64.43 $/b as US stocks showed draws in crude and distillate inventories, while gasoline built by 5 mb. Japanese crude…
ES-gas
March 29, 2021

European prices up on Friday

European gas prices were up on Friday, both on the spot and the curve, supported by lower pipeline supply and growing concerns about LNG supply.…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

START A FREE TRIAL
Subscribe to our newsletter
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]