•
Dollar general higher in a day with little
news to move markets
– Gained
the most vs GBP, CAD, SEK
– Stable vs
NOK, CHF, EUR
•
Oil plunges
– Iraq,
Kurdistan reach agreement that could add to supply next year
– OPEC not
likely to cut output at Nov. 27th meeting; on the contrary, it appears to be
cutting prices in order to force US shale producers out of the market
– Lower oil
prices are a boon to consumers but can cause difficulty for central banks owing
to the impact on inflation
•
US “quit rate” rises = good sign for US job
market
– However
Fed funds expected rate declines anyway = no support for USD
•
Today:
– Eurozone: Q3 GDP
data from Eurozone, Germany, France. Sluggish growth (+0.1% qoq expected) means
ECB will have to continue supporting economy = EUR-negative
– UK:
Construction output for Sep forecast to rise
– US: Retail
sales for Oct forecast to rise = USD-positive
– Speakers:
Coeure, Bullard, Fed Vice Chairman Fischer
No comments:
Post a Comment