While the market was expecting something from the ECB, some combination of a possible new TLTRO (maybe that could come later), a possible change in rates forward guidance, and some revision to growth and inflation forecasts, it served up all three with gusto. The read through from markets has been a defensive one with European stocks down for the session (banks by more), as it is in the US. Bond yields fell with the DXY higher and the AUD lower testing 0.70. The German 10y bund dropped a cool 6.1bps to just 0.067%, US 10y Treasuries are 5 bps lower too, while the DXY is higher from a combination of Euro weakness, some volatility in the Pound ahead of some key parliamentary votes in the UK next week and a defensive reactionary stance in AUD and NZD trading.
To mark my 1800th 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@tradernoblecom for details
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