The European Central Bank disappoints the markets

Throughout the week we have been waiting for the European Central Bank’s speech scheduled for today and even though it was suspected that the central bank was not going to give a lot of information regarding its future plans to try to stop prices from falling in the Eurozone, the markets felt disappointed when Mr. Draghi did not reveal which type of assets they are going to be buying in an attempt to avoid falling into deflation. The Euro strengthens after the announcement, but the lack of commitment from the central bank to implement a full-fledged quantitative easing program has hurt European stocks.

However, in the United States the main indexes try to correct a little bit its recent falls. Now all we can do is wait and see how tomorrow’s Non-Farm Payrolls report comes out, which it is expected to show that the US economy has created 216 thousand new jobs for the month of September. If the number comes out better than expected, then we may see the Dollar regain its bullish trend versus most of its major counterparts.