As summer times kicks into full mode in Europe, ECB President Draghi play list is slowly but surely moving away from QE as he sounded more upbeat in a long time. On paper, not a lot was expected from yesterday’s trading session, but in the end we had pretty decent moves in currencies, bond yields and equity markets, largely driven by hawkish comments from President Draghi (less enamoured with stimulatory measures) while softness in equities also reflect concerns over cyber-attacks and Googles European commission fine. In his introductory speech to the ECB forum on Central Banking in Sintra, Portugal, ECB President Draghi took another step down the path of gradual exit from emergency policy measures. He provided an upbeat assessment on the Euro-Zone economic recovery and argued that the slow inflationary response to above-trend economic growth was largely due to temporary positive supply shock and that monetary policy is working to build reflationary pressures.

To mark my 1350th issue of Tradernoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my New Platinum Service it made 2 points yesterday on what turned out to be one of the most volatile trading sessions so far in 2017 and is now ahead by 784 points for June, having made 1071 points in May, 1376 in April, 1335 in March, 1481 in February and 1734 in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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