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Fitch Affirms Italy At 'BBB'; Outlook Negative https://t.co/dJkUKe8Dco (13hrs ) like | retweet
RT @SecretarySonny: BREAKING: In Oval Office meeting today, the Chinese committed to buy an additional 10 million metric tons of U.S. soybe… (13hrs ) like | retweet
3 Cabinet Ministers Threaten To Delay Brexit If Tory Hardliners Vote Down UK PM’s Plan For EU Deal – Sun https://t.co/gunwUFFTaE (14hrs ) like | retweet
RT @tnewtondunn: Breaking - three Cabinet ministers go public with their threat to vote for a Brexit delay if Tory hardliners block PM’s ne… (14hrs ) like | retweet
RT @BreakingNLive: JUST IN: DOJ Official says Mueller Report not expected next week, amid CNN report earlier this week. (14hrs ) like | retweet
RT @Fongern_FX: *U.S., CHINA REACH FINAL AGREEMENT ON CURRENCY, MNUCHIN SAYS #China #USDCNH #USDCNY (14hrs ) like | retweet
RT @ForexLive: Mueller report won't come out this week or next. BBG, citing DOJ official (14hrs ) like | retweet
RT @zerohedge: TRUMP SAYS HE DISAGREES WITH LIGHTHIZER ABOUT MOUS. (14hrs ) like | retweet
RT @4xInsight: LIGHTHIZER SAYS FROM NOW ON WE WILL USE THE TERM TRADE AGREEMENT, NOT MOUS (14hrs ) like | retweet
RT @4xInsight: LIGHTHIZER SAYS MOUS ARE A CONTRACT, SAYS THEY ARE TALKING ABOUT A BINDING CONTRACT (14hrs ) like | retweet
today’s featured stories
Riksbank Lifts Veil On Krona Concerns After G10's Biggest Slump
Even the Riksbank is now showing some concerns about the selloff in the krona. Minutes from the February meeting released on Friday showed that “some board members also discussed the recent depreciation of the krona.” Deputy Governor Martin Floden even suggested that a weaker...
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Even the Riksbank is now showing some concerns about the selloff in the krona.

 

Minutes from the February meeting released on Friday showed that “some board members also discussed the recent depreciation of the krona.” Deputy Governor Martin Floden even suggested that a weaker currency could play a part in him advocating for another rate increase already in two months.

 

“An increase in April could possibly be justified if the krona continues to be weak, if the three forthcoming inflation outcomes indicate higher inflationary pressures and if at the same time the economy develops well,” Floden, traditionally one of the board’s more hawkish members, said in the minutes.  (Bloomberg – Continue Reading)

Germany GDP: Still Blocked By Cars
Headlines such as “Germany at the brink of a recession” remain the same but the just released details of 4Q GDP growth show that not all is doom and gloom in the Eurozone’s largest economy. According to the second estimate, the economy came to a halt in the fourth quarter. On...
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Headlines such as “Germany at the brink of a recession” remain the same but the just released details of 4Q GDP growth show that not all is doom and gloom in the Eurozone’s largest economy. According to the second estimate, the economy came to a halt in the fourth quarter.

 

On the year, GDP growth was still up by 0.9% (not-seasonally adjusted). More interestingly, the growth components actually show an economy that is running on almost all cylinders. Private consumption grew by 0.2% QoQ, government consumption was up by 1.6% QoQ, investments accelerated by 0.9% QoQ and despite all trade war fears even net exports remained flat.

 

With none of the traditional growth components being negative, the question arises why the economy is still on the brink of a recession? The answer is clear: cars are still blocking the road to a rebound. (ING Think – Continue Reading)

German IFO Feb 19 Business Climate Reaction
Frankfurt, 22 Feb (LS News) – German business confidence fell for the sixth straight month in February, stoking growth concerns about Europe’s largest economy. The Ifo economics institute said its main gauge of German business confidence dropped to 98.5 from a 99.3 reading last...
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Frankfurt, 22 Feb (LS News) – German business confidence fell for the sixth straight month in February, stoking growth concerns about Europe’s largest economy.

 

The Ifo economics institute said its main gauge of German business confidence dropped to 98.5 from a 99.3 reading last month. The forward-looking expectations component fell unexpectedly to 93.8 from 94.3. The current situation component ease to 103.4 from 104.5. All January components were revised upward, the institute reported.

 

Business expectations “deteriorated sharply and turned pessimistic for the first time since December 2012,” Ifo said.

 

The February report has analysts preparing for more bad news. Thomas Gitzel, chief economist at VP Bank Group, said: “The alarm bells are ringing. The coming months will be suspenseful.” (LiveSquawk – Continue Reading)

ECB Jan 19 MonPol Decision Account Reaction
The European Central Bank is seeking a quick decision on a new round of long-term bank loans, according to the account of the January meeting, and rate-setters reiterated their concerns about Eurozone growth. On the subject of additional targeted longer-term refinancing operations (TLRTOs), the...
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The European Central Bank is seeking a quick decision on a new round of long-term bank loans, according to the account of the January meeting, and rate-setters reiterated their concerns about Eurozone growth.

 

On the subject of additional targeted longer-term refinancing operations (TLRTOs), the minutes said: “While any decisions in this respect shouldn't be taken too hastily, the technical analyses required to prepare policy options for future liquidity operations needed to proceed swiftly.”

 

ING Chief German Economist Carsten Brzeski said that phrasing “shows that the process to come up with some options has started.”

 

Commerzbank Economist Michael Schubert said the minutes were the first time the ECB has discussed the possibility of “cliff effects”. He noted that the euro-area central bank is under time pressure to decide on further long-term credit because in June the repayment date for the largest TLRTO will be less than a year away. This could create difficulties for some lenders under current liquidity requirements, he said.

(LiveSquawk – Continue Reading)

German IFO Feb 19 Business Climate Preview
Frankfurt, 20 Feb (LS News) – German business confidence is expected to drop for the sixth straight time when the Ifo economics institute releases its February poll results Friday (0900 GMT) after mixed views from investors this month. In January, Ifo’s main gauge of German business...
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Frankfurt, 20 Feb (LS News) – German business confidence is expected to drop for the sixth straight time when the Ifo economics institute releases its February poll results Friday (0900 GMT) after mixed views from investors this month.

 

In January, Ifo’s main gauge of German business confidence dropped to its lowest level in nearly three years and the headline number is expected to continue its decline with a fall to 98.9 from 99.1 last month, according to poll of economists. They said the forward-looking expectations component will nudge higher to 94.3 from 94.2, the lowest level since November 2012. The current situation component is expected to ease to 103.9 from 104.3. (LiveSquawk – Continue Reading)

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