A Close Look At Friday’s Key Events

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Friday the capital markets will be listening to European Central Bank () President Draghi addressing at the 25th Frankfurt European Banking Congress.

I. ECB President Draghi’s address to Frankfurt European Banking Congress (3:00a EST)

Why it is important

  1. This speech could be very important for the capital markets if Mr. Draghi takes the opportunity to provide some hints about the ECB’s policy intentions in the wake of the Paris terrorist attack.
  2. This is Mr. Draghi’s 1st public speech since the terrorist incident in Paris
  3. If no attention is given to the terrorist attack, the market may view it as a tacit acknowledgment that an expansion of the ECB’s QE program at the December policy meeting is not a done deal
  4. could see a bounce given that it has weakened on the expectation that the ECB will introduce added policy stimulus before year’s end

A closer look

What is in play?

The Regional ETFs

  1. Vanguard FTSE Europe (VGK)
  2. iShares Europe (IEV)
  3. iShares MSCI Eurozone (EZU)
  4. SPDR Euro STOXX 50 ETF (FEZ)
  5. Wisdom Tree Europe Hedged Equity ETF (HEDJ)
  6. iShares MSCI Germany (EWG)
  7. iShares MSCI Spain Capped (EWP)
  8. iShares MSCI Italy Capped (EWI)

Currencies

  1. /
  2. GBP/USD
  3. USD/CHF

Sovereign bonds

Commodities

S&P 500 Futures

II. Economic Reports – none of note

III. Earnings Reports – Friday, early these companies are scheduled to report earnings to the market: SIRO, JMEI, FL, GMAN, HIBB, ANF and DXLG.

Have a terrific weekend.

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