Major deal took place between Iran and World powers. ECB Noyer: No risk of deflation for now. Inflation likely to remain low for some time. Rates could stay low or lower if needed. ECB Coeure: Rates could remain lower or lower for an extended period of time. disinflation was the main reason for the recent rate cut. Deflation risk not there yet. ECB Asmussen: Further action can be taken. Negative rates good in theory. German min. Schaeuble: Euro stable with no risk of contagion across the Euro area. Swiss voters voted against a proposal to cap top executive pay. Kuroda: Economy seeing moderate recovery. On track to achieve 2% price target. Target could be reached in late 2014 or early 2015. Easy policy to continue in months/years to achieve target. Some adjustments are possible. Negative rates are possible but need a clear assessment of the possible impact on the economy and financial markets. Currencies likely to see further upside against the Dollar. Yen crosses also to continue higher on improving sentiment. Commodities lower. Gold breaking into new lows while Oil approaching swing lows after major deal with Iran over the weekend. Equities to remain bullish for now. Corrections are possible as major markets trade into new highs. Asian equities ended the day mixed with Nikkei finishing higher by 1.54% while Hang Seng ended 0.05% lower. Calendar light for today:
Posted on: Mon, 25 Nov 2013 08:43:06 +0000
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