ECB cut boosts appetite in Stoxx, Netflix jumps 5% on 5 mio new subscribers | MarketTalk: What’s up today? | Swissquote

The European Central Bank (ECB) lowered its interest rates by 25bp yesterday, in a widely expected and priced in move. Chief Christine Lagarde sounded optimistic about the disinflationary process. The expectation now is that the ECB will cut its rates at every policy meeting until March. Next stop: December. As such, the Stoxx 600 gained and the euro sold off after the ECB decision. The EURUSD hit 1.0811 but the pair’s weakness was partly due to strong-looking economic data from the US. Corporate data is also on the bulls’ side. The stronger-than-expected TSM and Netflix earnings defy the waning need for unnecessary Fed cuts. Elsewhere, the latest data from China printed a slower-than-expected growth in the latest quarter, but industrial production and retail sales jumped more than expected in September. The CSI is set to close the week on an improved note and US crude should see support near $70pb level. Listen to find out more!