European open – ECB, Trade war, gold, oil

Sep 13 08:09 2019 Print This Article

ECB and Trade Headlines Buoy Investors

Europe is off to a positive start on the final trading day of the week, as stocks continue to reap the rewards of a massive ECB stimulus package and, perhaps, a step forward in the trade war.

Source – Thomson Reuters Eikon

In his penultimate meeting in charge, Mario Draghi once again became the face of the resistance as the central bank fought back against an economic slowdown, that can even count Germany among its victims. The ECB under Draghi has thrown everything, kitchen sink included, at the extreme challenges its faced and the President is clearly not keen to bow out with a whimper.

Draghi very much had the swagger of a man in his final weeks in a job, as he called on governments with fiscal space to do more to drive growth in the region, a clear nod to Germany which has been extremely conservative even by its own standards. Many have echoed Draghi’s sentiments here, with certain government’s far too happy to do nothing and hope the central bank can solve all their problems. It’s clearly not working.

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