September 6, 2012

ECB rates, Jobless Claims, Crude Oil Inventories

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News from Europe & Asia for US Morning Session:
– ECB Leaves Rates Unchanged, as expected
– Market await clarity on planned ECB bond purchases to help lower European yields – question being will hope meet reality on the details???
– Australia employment data come in weaker than expected with a slight dip; Overall Unemployment Rate improves but interest Rate cut expectations not altered.
– Sweden unexpectedly cuts its Repo Rate and lowers its rate path through 2014 period
– European equity markets are higher across the board, as Spanish and Italian bond yields have moved sharply lower ahead of the later today ECB meeting. The peripheral indices (IBEX-35 and FTSE MIB) have so far led the gains on the session. Most European banks are trading in positive territory led by German, French and Italian financials. Following the earlier gains seen in Chinese equities, resource related companies are trading broadly higher.
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