US Political Jitters cools off & Economic Data take Center Stage in EU & US

Daily Update - 8th November 2018

Yesterday’s Focus

• NZD Employment Change & Unemployment Rate

Yesterday’s explained

The whole focus was around the U.S. Mid-Term Elections and result was quite alike to what Market Analysts have anticipated. Democrats took the House, getting at the time being 220 Seats, While Republicans reaffirmed their majority in the Senate with 51 places.

The dollar reacted negatively to the result, but equities welcomed the shift. US indexes rallied to fresh monthly highs while the Euro reached its highest for November against the Dollar.

Sterling pound continues being the best performer, rallying against the greenback & its highest level in three weeks amid the sell-off around the latest following the Mid-Term Election Results. Brexit-related headlines kept coming, but the Irish border issue remains unsolved

 

Today’s Focus

• EUR European Commission Releases Economic Growth Forecast & ECB President Mario Draghi’s Speech
• USD Fed’s Monetary Policy Statement & Interest Rate Decision

Today’s explained

Markets have retraced from the Democrat win over the House of US, and today is a key eventful day with major high-tier data being released from Euro Zone & US Federal Reserve as well. Analyst believe that Federal Reserve decision on changing Interest Rates could highly build more tensions between Trump & Fed after recent lash outs by Trump condoning the actions taken by Federal Reserve of United States. Mario Draghi will be giving a speech on their current Economic Projections for this Quarter & also Economic Growth Forecast will be a key indicator of their current strategies panning out.