It's all about the ECB on Thursday. Via Dave Lutz at JonesTrading, here's a quick guide to what traders are chatting about this morning: Good Morning, and welcome to Mario day. US Futures are higher, led by a 50bp pop in the Russell as it underperformed yesterday. Nasdaq is being held back on earnings from FFIV and SNDK, both under sharp pressure.. EU Markets are mixed and trading in light volume ahead of the ECB announcement at 7:45, Draghi presser at 8:30. Chatter has built around €50bn-per-month QE, adding up to €1.1 trillion. Greece still can’t hold a bid into the election, and the Swiss market is under some decent pressure again. Over in Asia, the Nikkei added small, while Shanghai rebounded from early losses on renewed strength in the minerals sector. Aussie was higher on the back of the Banks (UBS +ve), outweighing the Ore miners getting whacked as the metal fell again We are continuing to see a flight from Treasuries and Bunds, as both’s yields are 4bp higher early. The $ is losing some ground as the Euro bounces from a 11year low, and the Yen gains some upward momentum. Despite the lower dollar tailwind, gold is retreating again as yields fall, but the Oil complex is having a good day, even tho Last night, API reported Crude Oil Inventories showed a 5.7MM increase. More than double street estimate of +2.5million (DOE at 11 today). Natty is retreating small, and has been very volatile this week into Inventory data this morning. Aside from Earnings, Ahead of us today, ECB announcement at 7:45 - at 8:30 the Draghi Presser and Weekly Jobless Claims, at 10 we get EU Consumer Confidence, at 10:30 US Natty Inventories followed by DOE Crude inventories at 11. Also at 11, the KC Fed Manufacturing index, and at 1pm, we have a auction of $15B in 10Y TIPSJoin the conversation about this story »
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