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Data from European Central Bank. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone ECB Quantitative Easing climbed to 80B in March 2016
European Central BankMonthlyReleased March 2016
Eurozone ECB Quantitative Easing climbed to 80B in March 2016, up 20B from February's 60B reading. The print exceeded the 70B consensus by 10B. The print is running well above the 12-month average of 60B. ECB Quantitative Easing is now the highest in 13 months.
Latest Release
80
Actual
70
Consensus
60
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
ECB Quantitative Easing (European Union) was reported at 80.00 billion in March 2016. This beat the market consensus of 70.00 billion by 10.00 billion. The reading rose from the previous value of 60.00 billion. This is classified as a medium-impact indicator released on a monthly basis.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include ECB Lagarde Speech (Jun 9) and Eurogroup Meeting (Jun 11).
Auto-generated from current model state · Refreshes on each release · Last update March 2016.
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ECB Quantitative Easing - EU
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About ECB Quantitative Easing — European Union
DEFINITION
ECB Quantitative Easing is a monetary policy tool used by the European Central Bank (ECB) to stimulate the economy and increase inflation. It involves the purchase of government bonds and other securities in large quantities, injecting money into the financial system and lowering interest rates. This indicator is closely monitored by investors and economists as it can impact the overall health of the European economy and financial markets.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2016): actual 80 B, consensus 70 B. Prior reading (Jan 2015): 60 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.