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The dollar Jerome Powell's comments considered carefully by investors were complied with. Fed chairman told the New York Economic Club yesterday that interest rates are now close to the "neutral" level, while he said in October that they were still far away. However, Powell did not mention slowdown in the economy than a presumption of respite at hikes of key rates.
The pound falls against the euro yesterday, following the publication of a report by the Bank of England stating that an exit in the UK without an agreement and without a transitional period would result in a 25% reduction in the sterling pound and the end of the GDP 2023 more low 7.75%10.5% compared to the predictions published in May 2016.
Yen Bouncing this morning after releasing a great retail sales October (+ 3.5% at an annual rate), suggesting growth acceleration in Q4.
Brent has dropped to a 13 month reduction in the closing price yesterday. He raised oil stock lists for the tenth week in a row.
The ECB Financial Stability Report, the German Preliminary Consumer Price Index, Theresa May's Hearing, the Brecht Parliamentary Commission and the Fed Records are the main events of the day without forgetting the G20!
THIS NEWS ARE YOU
Fed. Jerome Powell has been careful in announcing that interest rates are now close to the "neutral" level, saying in October that they are still far. However, Powell did not mention slowdown in the economy than a presumption of respite at hikes of key rates. Jerome Powell said that rising debts and loan quality deterioration to some companies in the United States were one of the key weak points in the US financial system.
Brexit. According to the BOE, Brexit without agreement and without a transitional period would result in a 25% reduction in the British pound, GDP at the end of 2023, which was 7.75% below 10.5% or the projections published in May 2016 . The report states that a close relative would allow the pound to be appreciated in the short term from 2% to 5%.
EU / US. Donald Trump has stated his intention to impose customs taxes on imports of cars to the US to protect the US auto industry.
Commercial War. The US administration said Wednesday that China has not made any "proposals to reform" its business practices.
Japan. Retail sales growth was 3.5% in October (YoY), record level since December 2017.
Ukraine. Two Ukrainian ports on the Azov Sea are blocked by Russian ships, the Ukrainian Infrastructure Minister said this morning.
APPOINTMENT OF DAY:
Macroeconomic Calendar from November 29 2018 or DailyFX
CONTENT YOU READ
The 5 deadlines on stock markets
Since November, large international stock market indices such as S & P 500, CAC 40 and Nikkei 225 have maintained medium-term technical support levels that can be seen by the end of year's rally scenario.
Oil prices dump at the bottom of new rehabilitation, the price of natural gas is exposed
Oil prices restored their decline on Wednesday afternoons as a result of the US Energy Department (DoE) report that further restores crude oil last week. This is the next tenth week that oil stocks have risen and this is the fourth consecutive week than expected (+ 3.577Mb against + 0.769Mb).
EUR / USD – DXY: Dollar strengthens Jerome Powell's speech
The probability of three search rates of 25 bps or more by December 2019 has risen from 48% to 37% in one month. The main reason for this fall in expectations is the speed of the Fed faster than the predicted economists at the beginning of the year.