Clock ticking

By Mike Peacock
June 30, 2014

Amid all the furore over David Cameron’s failure to block Jean-Claude Juncker for the top EU job at a summit last week, the bloc’s leaders signed a free-trade pact with Ukraine and said they could impose more sanctions on Russia unless rebels de-escalate in the east of the country by Monday.

Euro zone inflation data to set seal on ECB action

By Mike Peacock
June 3, 2014

Euro zone inflation – due at 0900 GMT – is forecast to hold at a paltry 0.7 percent in May, in what European Central Bank President Mario Draghi has labelled the danger zone below 1.0 percent for the eighth successive month.

Evening of reckoning

By Mike Peacock
May 27, 2014

EU heads of government and state dine in Brussels this evening to discuss their response to a big slap in the face from the bloc’s electorates.

PMIs next signpost for ECB

By Mike Peacock
May 22, 2014

Following a mixed bag of euro zone GDP data last week which showed Germany charging on and Spain holding its own but France stagnating and Italy, Portugal and the Netherlands slipping back into contraction, flash PMI surveys for the euro zone, Germany and France certainly have the power to jolt the markets today.

France flatlining

By Mike Peacock
May 15, 2014

We get a flood of EU GDP reports today. Germany’s figure, just out, has marginally exceeded forecasts with quarterly growth of 0.8 percent but France is underperforming again and stagnated in the first three months of the year, missing estimates of 0.2 percent growth.

Russian sanctions … and France

By Mike Peacock
May 13, 2014

After the EU widened its sanctions to include Vladimir Putin’s deputy chief of staff, the commander of Russian paratroopers and two Crimean energy firms, Ukrainian prime minister Yatseniuk is in Brussels today for talks. The EU is looking to shore up the situation to allow national elections to take place on May 25 and, along with Washington, has set any disruption of that vote as a red line.

Prepare for a razor-thin rate cut from the ECB in June. But what will it achieve?

May 9, 2014

RTR3OBCB.jpgA consensus appears to be slowly building for a carpaccio-slice interest rate cut from the European Central Bank next month.

ECB still the major source of funding for banks

April 30, 2014

European Central Bank President Draghi smiles during the monthly ECB news conference in FrankfurtThe European Central Bank is still the main funding source for banks even if it is not acting as lender of last resort for governments in the currency bloc.

Will sanctions bite?

By Mike Peacock
April 30, 2014

Financial markets may view the latest sanctions against Russia as feeble, but the reaction from Moscow – Vladimir Putin threatened to reconsider Western participation in energy deals and his foreign minister, Sergei Lavrov, said they were the work of weak politicians – suggests otherwise.