The major upcoming event risks are listed
Kategori: Allmänt
ViX trading below support level. But this could change quite soon. Here is a list of upcoming events to look out for. (From Saxo Bank, chef economist Sten Jacobsen.).
• August 30 - September 1, 2012: Jackson Hole: Federal Reserve Bank of Kansas City hosts more than 100 central bankers, policy makers, academics and economists at its annual economic policy symposium. Ben S. Bernanke will do the opening remarks and it’s widely expected there will be a “leak” of his monetary intentions just as we saw at the Jackson Hole conference of August, 2010, that heralded QE2. (I remain extremely sceptical that we’ll see this unfold).
• September 6, 2012: ECB meeting. We get whatever Draghi’s “appropriate modalities” might be – a plan or just another plan for a plan? Here is theIntroductory statement from the August Press Conference. (It’s important to reread!)
• September 12, 2012: The German Constitutional Court makes its ruling on the legality of the Eurozone’s permanent bailout fund, the European Stability Mechanism, and the separate pact on budget discipline. The decision is absolutely key. Overall, it’s expected that the court will allow the ESM to go ahead, but also that it will further define the limits and constraints which must be respected. Note also that the European Court of Justice has a case in front of it brought by an Irish member of Parliament. (Link: Reuters: German top court sees no reason to delay ESM ruling)
• September 12, 2012: The Dutch election. Mr. Rutte’s minority government called an election in late April after new austerity measures could not be agreed. It seems the Dutch, like so many others have had enough of the Eurozone. The front-runner so far in the polls is the far left (similar to Denmark) based on this EU resentment, according to this piece by WSJ: Far Left Emerges as Frontrunner in Dutch elections on Anti-Austerity Campaign. The latest polls have anti-immigration VVD and the Socialists leading. For those who read Dutch, Google has commissioned an excellent overview page: Dutch election courtesy of Google
