2/17/2021 10:58:33 AM GMT
Notes/Observations
- UK Jan CPI beats expectations but remain far from BOE target
- Italy PM Draghi stresses that his new govt cannot succeed without support from Parliament, need to pass reforms and address emergencies
- Bitcoin fever overtake coronavirus in headline coverage
Asia:
- Japan Jan Trade Balance: ¥323.9B v ¥625.0Be; Exports Y/Y: 6.4% v 6.6%e; Imports Y/Y: -9.5% v -5.5%e
- RBA Assist Gov Kent noted that its policy measures saw A$ 5% lower than otherwise and would continue to put downward pressure on currency. Current level of AUD currency at upper end of recent range; to make modest changes to how RBA uses FX swaps
Asos [ASC.UK] +2% (trading update), Just Eat Takeaway [JET.UK] -5% |(trading update)
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Speakers
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ECB chief Lagarde stated that 2021 had begun on a more positive basis but reiterated that both fiscal and monetary policy support was still needed. Stressed that the EU fiscal aid must be rolled out quickly. ECB Dec Staff Projections remain plausible. Reiterated view that monitoring exchange rates very carefully
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ECB s Villeroy (France) reiterated Council stance that closely watching impact of exchange rates. Reiterated view that ECB to keep monetary policy loose for as long as necessary
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Germany Health Min Spahn stated that needed to do everything possible to curb the spread of coronavirus; would not be able to ease all curbs on Feb 1st ( Reminder: On Jan 12th speculation circulated that German Chancellor Merkel would seek the current lockdown measures to last until early April)