Market Weighs heavily on Geo-Political Tensions Between US-Sino

Daily Update - 27th November 2018

Yesterday’s Market

• AUD RBA's Governor Philip Lowe Speech
• EUR ECB President Draghi's Speech
• GBP BOE's Governor Carney speech

Yesterday’s Focus

Mario Draghi, ECB President speaking to the EU Parliament on Monday struck a restrained tone saying that "the data that had become available since his last visit in September have become somewhat weaker than expected."  He hoped that the current slowdown might be temporary but repeated that significant stimulus was yet needed.

Mark Carney has thrown his weight behind Theresa May’s Brexit deal, warning that a no-deal scenario would damage the economy, trigger job losses, lead to lower pay for workers and cause inflation to rise.

 

Today’s Market

• NZD Trade Balance
• USD Housing Price Index & FOMC Bostic Speech

Today’s Focus

The Trade balance report was released today morning, Third largest monthly goods deficit on record.

Bostic, a known dove last spoke on November 15th and noted neutral is where we want to be and that the conditions warrant ‘final steps’ in adopting neutral rate policy.

A combination of dovish comments from the both Fed speakers along with softer economic data could provide some pressure for the US dollar.