Markets around the world await the ECB announcement about its unlimited “sterilized” bond buying program at 7:45AM. In plain english the word sterilized means that the ECB intends to buy these bonds without printing money, which is why the EUR/USD exchange rate has soared to $1.2617 this morning. What the ECB needs to explain to world markets is how this program is both unlimited and sterilized.
Other market moving announcements today include the Bank of England’s monetary policy on interest rates, ADP employment report, weekly jobless claims and the ISM services PMI for August. The USDA weekly export sales report has been moved to 8:30AM on Friday due to the labor day holiday.
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All times EST.
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There are no notable earnings announcements today.