12-06-2017
Weekly comment MM Prime TFI - June 12. 2017
Undoubtedly, the last Thursday was the most important day of the past week – the market focused on a decision of the ECB, or rather on a conference with Mario Draghi, on the parliamentary elections in the UK and on Donald Trump’s political problems. In line with the market expectations, the Governing Council of the ECB left interest rates unchanged. Nevertheless, the message of the bank was rather dovish, so the market was toned down, because plenty of investors expected some hawkish statements. Meanwhile, in the UK, the party of Theresa May won the parliamentary elections, whereas it lost its majority in the House of Commons. These results should be considered as a failure of the Theresa May’s idea. A lot of concerns on further Brexit’s procedure appeared in the market, but they only adversely affected pound quotations.