In our special Greek election preview report, we highlighted three possible outcomes from the election: a defeat for the anti-austerity Syriza party, a Syriza victory with conciliatory rhetoric toward Greece’s creditors, and a Syriza victory with a more confrontational approach.
It’s become a bit of cliché to call every single non-farm payroll report “the most important jobs report in years,” but leaving behind the hyperbole, today’s labor market report was certainly highly anticipated.
Quantitative easing has been around some seven years in its current form, but now another monetary policy tool is gaining momentum called negative interest rates. This is likely to become a weapon of choice in the currency wars and a key driver of exchange rates.
It’s been a relatively eventful second day of the trading week thus far, with a game-changing interest rate cut from the RBA and details about Greece’s proposed debt restructuring plan marking the biggest events.