Futures Fade After Report ECB Still Unsure On QE Format

(Before It's News)

from Zero Hedge

While the trading world, or at least the kneejerk-reaction algos, is focused on today’s US nonfarm payrolls due out in just 2 hours (consensus expects 240K, with unemployment declining from 5.8% to 5.7%) the key event overnight came out of China, (where inflation printed at just 1.5% while PPI has imploded from -1.8% in September to -2.2% in October to -2.7% in November to a whopping -3.3% in December) because as per BofA “soft domestic demand over-capacity issue have kept inflation pressures low”. This extended a record stretch of negative PPI prints and was the steepest drop in factory-gate prices in two years. “The oil price drop is one factor, but the more important factor of the PPI decline is the weakness of the global economy — look at Europe and Japan,” said Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong. “With trade and other inflation transmission methods, the whole world is facing disinflation pressure.”

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