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14 Jan 2015
Market Movers Today – EU Court of Justice’ opinion, US Retail Sales – Danske
FXStreet (Barcelona) - The Danske Bank Team lists the key market moving events and data today.
Key Quotes
“At 09:30 CET the EU Court of Justice will give a non-binding opinion on the legality of ECB’s OMT programme. While an outright condemnation of legality of the OMT programme is unlikely, the ruling might suggest some limitations that could constrain a future QE programme. A final ruling on the legality of the programme is expected in four to six months.”
“Chancellor Angela Merkel, Finance Minister Wolfgang Schäuble and ECB president Mario Draghi will attend a closed-door economic conference in Berlin. Schäuble and Merkel will address the conference at 11:00 CET and 16:00 CET. The conference is closed for the press so it’s unclear if there will be statements. It is not certain whether Draghi will directly address the conference.”
“In the data calendar the most important event is December retail sales in the US. We expect a another decent increase in core retail sales in December on the back of a strong November, as lower gasoline prices continued to support consumer spending. However, lower gasoline prices weighed on headline retail sales in December. The Fed will release the Beige Book, its regional survey of the US economy.”
Key Quotes
“At 09:30 CET the EU Court of Justice will give a non-binding opinion on the legality of ECB’s OMT programme. While an outright condemnation of legality of the OMT programme is unlikely, the ruling might suggest some limitations that could constrain a future QE programme. A final ruling on the legality of the programme is expected in four to six months.”
“Chancellor Angela Merkel, Finance Minister Wolfgang Schäuble and ECB president Mario Draghi will attend a closed-door economic conference in Berlin. Schäuble and Merkel will address the conference at 11:00 CET and 16:00 CET. The conference is closed for the press so it’s unclear if there will be statements. It is not certain whether Draghi will directly address the conference.”
“In the data calendar the most important event is December retail sales in the US. We expect a another decent increase in core retail sales in December on the back of a strong November, as lower gasoline prices continued to support consumer spending. However, lower gasoline prices weighed on headline retail sales in December. The Fed will release the Beige Book, its regional survey of the US economy.”