Ok, So What Now?

Just one more day of this before the weekend, when we’ll all get to put up the plywood and hide in the basement as Irma turns Florida into Atlantis and Kim turns Tokyo into Dresden…

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Euro Surges As Draghi Speaks, GDP Outlook Revised Up, Inflation Path Down

“At the same time, the recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium-term outlook for price stability.”

ECB Leaves Everything Unchanged – Eyes Turn To Draghi

But you’ve got to think Mario Draghi isn’t looking forward to Thursday’s presser.

Although no one expected any actual change to policy rates or the APP, markets are expecting quite a lot in terms of outright jawboning, telepathy, side-eyes, winks, nods, or really anything at all to suggest that the ECB is going to try and keep a lid on euro strength and/or is prepping an exit plan from stimulus.

Demons In The Hills

“There may be all sorts of dragons and monsters up in those hills.”

One Trader Explains Why Jackson Hole Was A Whole Bunch Of Nothing

“But there was a far smarter reason why Jackson Hole reverted back to an academic exercise and post-GFC policy retrospective.”

Nobody Panic.

Your refund will be escaping this death trap with your life…

Euro Spikes To January 2015 High As Draghi Speaks At Jackson Hole

Up, up and away.

Thumper Does Jackson Hole

“Frankly, if they won’t or, more likely, can’t tell us what they are planning to do, they should take a pass and stick to their economics and orthodoxies.”

One Trader Takes A ‘Dark Side Stab’ At Jackson Hole

“No, a surprise will most likely look like a Central Bank chief that attempts to put policy back on the previous tighter path.”

Waiting Game.

Just biding time…

Look Out: Euro Jumps As Draghi Silent on FX Risk, PMIs Come In Hot

Score one for the crowd who thinks that Mario Draghi is going to have a difficult time keeping a lid on euro strength. 

They Love To Talk, But Hate To Communicate

“Confidently dismissing the process as harmless for markets is a luxury they can’t indulge in.”

The Great Euro Debate Heats Up Ahead Of Jackson Hole

There’s a lot of commentary floating around out there this morning about the euro ahead of Jackson Hole. The single currency’s relentless rise heading into August was starting to weigh on eurozone equities and needless to say, excessive FX strength isn’t something that’s welcomed with open arms by central banks that are still engaged in…

Bears Shouldn’t ‘Overstay Their Welcome’

“One of the most dangerous things in trading is to confuse what one thinks ‘should’ happen with the forecast of what ‘will’ happen.”

Don’t Dig Yourself A ‘Hole’: Full Week Ahead Preview

Ok, so strap in, because this promises to be an interesting week. August has proven to be the month that risk assets finally took notice of the exceptionally precarious geopolitical backdrop. Risk assets have reacted unfavorably to the combination of rising tensions on the Korean peninsula and the seemingly terminal decline of the Trump administration. As…