Daily Alert – Thursday 28th October 2021: Will the ECB toe the line later today?

Mark NugentDaily Alert, Oct 2021

Daily Alert – Thursday 28th October 2021: Will the ECB toe the line later today?

Good morning traders.

Yesterday saw a hawkish Bank of Canada. The bank ended their Covid-inspired QE programme and brought forward their estimated timing for the first interest rate hike in a long time.

Later today we have the interest rate and statement from the European Central Bank. The ECB have yet to embrace tapering and have given no real forecast of interest rate hikes, lagging the other major central banks. Will today be the day they toe the line? Any indication of an end to accommodative monetary policy is likely to suppress equities and boost the Euro. We will find out at 1245pm, BST.

I’ll be back tomorrow with a brief video of this week’s Japan225 long which netted 0.92 percent.

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