Daily Update - 29th November 2018
Following a European session where markets were focused on Federal Reserve Chairman Jerome Powell and Bank of England Carney was somewhat subdued. The critical comment in the Powell speech that got the market going was, "Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy. The BoE's worst-case Brexit scenario would lead to an 8% fall in GDP in the short term, unemployment of 7.5%, inflation at 6.5%, house prices down 30% and a 25% fall in the pound. This could lead to a Financial Slump for Sterling Pound for a prolong period of time if they Exit without proper Transition arranged. The Unemployment Rate shows, in a percent basis, the amount of unemployed people in Germany, using seasonally adjusted data. A decrease in this indicator has positive implications for consumer spending which stimulates economic growth. Harmonized Index of Consumer Prices is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms. The Core Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average amount of money that consumers spend in a month. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation of the expenditure. It is a significant indicator of inflation.Yesterday's Market
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