Nice of a few central bankers to share some of their wisdom with us this afternoon. This time we have the ECB’s Draghi reining in expectations, saying that although the global financial and economic crisis is easing, strong uncertainties remain. Interestingly he seems to advocate further stimulus measure when he wars that consumer demand and investments could weaken again without support from public money.
Interest in Eur/Usd has pretty much dried up with the pair content to sit at 1.4230. At least Sean will find it a bit lower than where he left it for a change.
More from the Fed’s Lockhart too, saying that it is too early to contemplate raising the Fed’d interest rate target. He also expects to see more bank failures, with the problems concentrated in small and mid-size lenders.
