US Job Records, Strategist Alert and Apple Announcement
Formally, the main news event on the financial markets yesterday was the meeting of the Bank of Canada and its decision on the parameters of monetary policy. More precisely, it would be important if the Central Bank took any action to adjust monetary policy, or at least somehow aggressively commented on its future. Because in that case something similar could be expected from the FOMC meeting on September 22 (in theory). But the parameters of monetary policy in Canada were left unchanged, and no hawkish statements followed. So let's go.
Not really, though. After all, today the results of the ECB meeting will be announced. After the latest inflation statistics from the Eurozone (maximum inflation values over the past 10 years), many stopped assessing the probability of the ECB monetary policy vector being unchanged at 100%. Most likely, Lagarde will repeat his favorite song about the need to save the economy and not wanting to make the mistake of premature action. In this case, everyone will remain with their own people. But if the ECB seriously expresses concern about inflation and somehow aggressively speaks out about the need to fight it, then the euro can receive serious support.
In the US, meanwhile, published data on the number of open vacancies. And again, it was not without a record. Almost 11 million jobs were generated by the fragile and vulnerable, according to Powell, the US labor market.
What are we for? Moreover, the need to tighten monetary policy in the United States is already obvious to everyone (except, perhaps, the head of the Federal Reserve System). The other day strategists at Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. issued a warning about the possibility of negative shocks in the US stock market. Motivation: The spread of the delta strain, a slowing global economic recovery, and the likelihood that central banks will begin phasing out stimulus programs.
But this is all macroeconomics. At the micro level, Apple has announced its annual September grocery event. New iPhones are expected. Possibly new Apple Watch and AirPods models.
Not really, though. After all, today the results of the ECB meeting will be announced. After the latest inflation statistics from the Eurozone (maximum inflation values over the past 10 years), many stopped assessing the probability of the ECB monetary policy vector being unchanged at 100%. Most likely, Lagarde will repeat his favorite song about the need to save the economy and not wanting to make the mistake of premature action. In this case, everyone will remain with their own people. But if the ECB seriously expresses concern about inflation and somehow aggressively speaks out about the need to fight it, then the euro can receive serious support.
In the US, meanwhile, published data on the number of open vacancies. And again, it was not without a record. Almost 11 million jobs were generated by the fragile and vulnerable, according to Powell, the US labor market.
What are we for? Moreover, the need to tighten monetary policy in the United States is already obvious to everyone (except, perhaps, the head of the Federal Reserve System). The other day strategists at Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. issued a warning about the possibility of negative shocks in the US stock market. Motivation: The spread of the delta strain, a slowing global economic recovery, and the likelihood that central banks will begin phasing out stimulus programs.
But this is all macroeconomics. At the micro level, Apple has announced its annual September grocery event. New iPhones are expected. Possibly new Apple Watch and AirPods models.
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