European Indices closed mixed after ECB President Lagarde said in her virtual press conference following the unchanged announcement in Interest Rates at yesterday’s ECB Meeting, that she will not let Monetary Policy be constrained as she  fights to support the Euro-Zone’s economic recovery from the Coronavirus. Ms Lagarde said that she expects the ECB to spend the full amount of the Pandemic Bond buying programme. Italian 10-Year Bonds fell to a four-month low on this news and helped support the equity markets where the DAX closed 0.43% lower, reversing an earlier 1.5% fall while the Italian MIB closed with a gain of 0.3%.  The ECB at its monthly meeting agreed to keep the bond buying programme unchanged at Euro 1.35 trillion and the Deposit Rate at -0.5%. Meanwhile the EU Leaders are meeting later today to try and agree on the unprecedented Euro 750 billion recovery fund. In the U.S., another 1.31 million people filed Initial Jobless Claims, which was worse than Wall Street’s estimate of 1.25 million. There are concerns over the pace of declines of Jobless Claims slowing. This comes on top of worries that any potential Coronavirus vaccine may not provide a long-term immune response. Other economic data was positive. Retail Sales rose 7.5% in June compared to May’s revised surge to 18.2%. Meanwhile Homebuilder Sentiment rose for a third straight month, reaching pre-pandemic levels of optimism. Elsewhere, Oil retreated from a four-month high while the Dollar closed 0.3% higher. The up-move in the Dollar saw Gold fall 0.7% .

To mark my 2100th 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 To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it made 106 points yesterday and is now ahead by 2433 points for July, having made 2580 points in June, 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February and 2142 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification

This content is for Free Members or higher.

Already Have an Account? Log In

New to TraderNoble? Register