Morning Update – 7/12/2015 – by Arjun Lakhanpal

December 7, 2015 by savi-admin

Morning all.. Wall St had a strong session even though Yellen seemed to get the data that confirms the Fed can hike with a strong payrolls number. S&P closed up over 2%. Draghi helped by late comments saying the ECB can do more.. Asia had a good session as well with the Nikkei up 1% and China higher too.. – ‘There cannot be a limit’ to stimulus, says ECB president Mario Draghi – “But there is no doubt that if we had to intensify the use of our instruments to ensure that we achieve our price stability mandate, we would,” he said in a speech to the Economic Club of New York. “There cannot be any limit to how far we are willing to deploy our instruments, within our mandate, and to achieve our mandate,” he said…And, he added, it would do more if necessary: “There is no particular limit to how we can deploy any of our tools.” The stronger Nikkei has seen USDJPY move higher in a tight range and EUR has remained weaker since the Draghi comments. There is now a strong feeling that the Fed will hike so the dollar looks likely to attract buying again traders suggest. Despite strong set of labour figures Friday, there seems little incentive to carry broad USD longs into next week’s Fed. This morning we have little data with Norway IP and the Swedish Budget Balance and this week the focus will be on Friday’s retail sales…Good luck..