arrow
logo

Alvexo - Giving Back To The Community

Learn More

Draghi Speaks to European MEPs in Brussels

ECB Prepared to Act on Brexit Risks

ecb-s


Mario Draghi, in a speech in Brussels underlined the need for EU governments to help achieve the ECB's inflation target. He said that further monetary stimulus was an option as well. On Brexit, Draghi indicated that the central bank stands ready to act but refrained from going into further details.

 

Japan All Industry Activity Expands in April


Data from the Ministry of Economy, Trade and Industry, released on Tuesday showed that Japan's all industry activity expanded at a faster pace in April. The index advanced 1.30%, accelerating the gains from the 0.20% increase seen in March. The data also beat forecasts of 1.20%. The gains came a rebound in construction activity. Industrial output however remained weaker, easing to 0.50% in April, down from 3.80% previously.

 

popup_close
1-usdjpy-2206

UK Public Sector Net Borrowing Deficit Narrows


The UK’s budget deficit narrowed in May, according to data published by the Office for National Statistics. The public sector’s borrowing decreased by 0.4 billion GBP from last year, to 9.7 billion GBP in the month of May. At the end of the month of May, public sector net debt reached to 83.70% of the GDP. From the budget deficit total, 1.90 billion was related to spending on infrastructure, with the remaining costs related to the day-to-day activities of the public sector.

 

popup_close
2-eurgbp-2206

German Constitutional Court Rules in Favor of ECB


The German constitutional court ruled in favor concerning the ECB’s use of Outright Monetary Transactions or OMT, in the height of the eurozone debt crisis in 2012. The final ruling was issued on Tuesday by Germany's powerful constitutional court. In its ruling, the court said that the OMT program does not impair the Bundestag's overall budgetary responsibility and does not exceed the competences attributed to the European Central Bank. The OMT program allowed the ECB to buy bonds in unlimited quantities in distressed member states. The court ruling yesterday marks an end to nearly four years of judicial battles and offered some relief to the already jittery markets ahead of the UK's referendum vote this Thursday.

 

popup_close
3-eurusd-2206

Janet Yellen: Interest Rates to Remain Low


In Janet Yellen's testimony to the Senate Banking Committee, the Federal Reserve Chairwoman said that policy makers expect interest rates to remain low for some time on account of weak productivity and slowing job growth with heightened risks from global uncertainty. She said that the Fed will continue to maintain an accommodative monetary policy until the central bank progresses towards the 2.0% mandated inflation target rate. In her speech, Yellen also spoke on the risks of Brexit said that a decision to leave the EU could have significant economic repercussions. The markets were little changed after her speech. Ms. Yellen will be speaking to the senate committee later today.

 

popup_close
4-usdchf-2206

Upcoming Events

  • Time
  • Currency
  • Event
  • Forecast
  • Previous
  • 07:30 GMT
  • SEK
  • Unemployment rate
  • 7.20%
  • 7.30%
  • 12:30 GMT
  • CAD
  • Retail sales m/m
  • -
  • -1.0%
  • 13:00 GMT
  • USD
  • HPI m/m
  • 0.70%
  • 0.70%
  • 14:00 GMT
  • USD
  • Fed Chair, Janet Yellen testifies
  • -
  • -