European Central Bank President Mario Draghi has warned about even deeper recession. Louise Cooper of Coopercity thinks that Draghi has turned slightly hawkish last month and now he is back to being dovish. “The commentary today expects a rate cut from the European Central Bank (ECB)â€, he added.
Volumes in Europe are still down 30-40 percent and in American markets down 15 percent in the stock markets. Some fund managers may have used derivatives to get exposure to equities, believes Louise Cooper of Coopercity.
The European Central Bank (ECB) meeting today to discuss and decide on the eurozone economic data is an important event that the global markets are watching out for.