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ECB's Praet: ABS program aimed at creating sizable easing impact

FXStreet (Łódź) - ECB Executive Board member Peter Praet commented on the central bank's policy action on Thursday, including rate cuts and introduction new measures, which he expects to have a considerable impact on the Eurozone economy, when combined with the TLTRO program.

Praet confirmed that the Governing Council members were not unanimous on the scope end timing of changes in policy, but they all expressed worries with the recent poor data coming from the euro area.

Furthermore, Praet called for increased labor market reform efforts in Italy and added that "monetary policy does not solve structural problems," but that it can only buy time.

Canada Ivey Purchasing Managers Index s.a came in at 50.9 below forecasts (55.3) in August

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USD bullish tone continues despite poor NFP - FXStreet

FXStreet Chief Analyst Valeria Bednarik points out that the disappointing US jobs numbers for August resulted only in a slight USD pullback across the board.
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