2012-11-08 14:13 GMT

ECB's Draghi: Growth momentum to remain weak in 2013

As expected, the ECB Governing Council decided to keep the main interest rate unchanged at a record low of 0.75% at their November monetary policy meeting. Speaking at the press conference following the meeting ECB head Mario Draghi commented on the considerations underlying the decision. The president suggested that inflation should stay above 2% throughout the rest of 2012 and fall below 2% in the course of of 2013, adding that “over the policy-relevant horizon, in an environment of modest growth in the euro area and well-anchored long-term inflation expectations, underlying price pressures should remain moderate.”

Mario Draghi said that growth momentum in the Eurozone would remain weak in 2013. He assured however that ECB's monetary policy was directed at stimulating growth in the area and that its readiness to activate the OMT program was boosting market confidence. He urged EU governments to continue reducing fiscal imbalances and applying structural reforms to strengthen growth potential in the area. He said that positive effects of the fiscal consolidation efforts so far could already be seen and that a quick implementation of the fiscal compact would further reassure markets - FXstreet.com

2012-11-09 07:00 GMT

Germany. Harmonised Index of Consumer Prices

2012-11-09 09:30 GMT

United Kingdom. Total Trade Balance

2012-11-09 14:55 GMT

United States. Reuters/Michigan Consumer Sentiment Index

2012-11-09 15:00 GMT

United States. Wholesale Inventories

2012-11-09 05:52 GMT

EUR/USD needs break of key fibo to resume bear's party

2012-11-09 05:27 GMT

GBP/USD finding buyers above 1.6000

2012-11-09 04:56 GMT

EUR/NZD stalling around 38.2% Fibo retrace at 1.5650

2012-11-09 03:50 GMT

AUD/CAD near 3-month highs above 1.04