from MacroScope:

Could Yemen prompt an oil rally?

By Mike Peacock
March 27, 2015

 
Shi'ite Muslim rebels hold up their weapons during a rally against air strikes in Sanaa

Yemen's President Abd-Rabbu Mansour Hadi has fled his refuge in Aden for Saudi Arabia as Houthi rebels battled with his forces on the outskirts of the southern port city.

from MacroScope:

Ukraine to get serious money

By Mike Peacock
March 12, 2015

International Monetary Fund Managing Director Lagarde speaks about the situation in Ukraine at a news conference in Brussels

The International Monetary Fund surprised on the upside with its programme for Ukraine last night, agreeing $17.5 billion in loans as expected but agreeing to pump $10 billion of that into the near bankrupt country over the next year and handing over $5 billion imminently.

from MacroScope:

Another reverse for Greece with Berlin yet to come

By Mike Peacock
February 5, 2015

Greek Finance Minister Varoufakis answers journlists questions at restaurant in Frankfurt

Last night, after Greece's new Finance Minister Yanis Varoufakis met Mario Draghi, the European Central Bank cancelled its acceptance of Greek bonds in return for funding, shifting the burden onto Greece’s central bank to finance its lenders, the latest reverse for the country’s new government.

from MacroScope:

Volatility back with a bang

By Mike Peacock
January 16, 2015

The logo of the SNB is seen at the entrance of the SNB in Bern

Volatility is back with a bang.

The Swiss franc leapt by an unprecedented 40 percent at one point after the Swiss National Bank scrapped its currency cap out of the blue. Oil may have bounced but it’s still down the thick end of 60 percent since mid-2014, dragging the rouble and other oil-producer currencies with it. Copper, generally a barometer of world industrial demand, is barely finding its feet after plunging this week.

from MacroScope:

Politics to trump law in QE decision

By Mike Peacock
January 15, 2015

Deutsche Bundesbank President Weidmann arrives for the annual news conference in Frankfurt

If the law was the ultimate arbiter, the European Central Bank would have the most verdant of green lights for an unlimited bond-buying programme with new money. In reality, politics and German concerns will dictate.

from MacroScope:

ECB numbers game

By Mike Peacock
December 11, 2014

E

European Central Bank President Mario Draghi pushed the envelope as far as he could last week, saying a review early next year would decide whether money-printing to buy government bonds was needed. He said he didn’t need unanimity within the ECB to force it through.

from MacroScope:

Eyes on Weidmann for Draghi pushback

By Mike Peacock
December 5, 2014

Deutsche Bundesbank President Weidmann arrives for the annual news conference in Frankfurt

Bundesbank chief Jens Weidmann, German Finance Minister Wolfgang Schaeuble and his Italian counterpart, Pier Carlo Padoan, all speak at a conference in Frankfurt today.

from MacroScope:

UK politics thrown up in the air

By Mike Peacock
November 21, 2014

Nigel Farage, leader of UKIP, cheers as it is announced that UKIP candidate Mark Reckless won the by-election at Medway Park in Gillingham

As predicted, Britain’s surging anti-EU party UKIP snatched a second parliamentary seat from the ruling Conservatives overnight.

from MacroScope:

A Bank of England dovecote?

By Mike Peacock
November 12, 2014

Bank of England Governor and Financial Stability Board (FSB) Chairman Mark Carney arrives for a news conference at the Bank for International Settlements (BIS) in Basel

The Bank of England will produce its quarterly inflation report today. With wage growth still notable by its absence and inflation dropping to just 1.2 percent in September, noises from within the BoE suggest the timing of a first interest rate rise is heading further over the horizon.

from MacroScope:

Central banking elite under one roof

By Mike Peacock
November 7, 2014

U.S. Federal Reserve Chair Yellen speaks with European Central Bank President Draghi at the Jackson Hole Economic Policy Symposium in Jackson Hole

After European Central Bank chief Mario Draghi managed to mend fences and get his colleagues to sign up to his 1 trillion euros or so target to push into the ailing euro zone economy, Paris hosts its version of the Jackson Hole central bankers meeting.