Archive for November 2nd, 2016

Central Bank Watch

FOMC Statement Omits Any Definitive Sign that December Rate Hike is Mostly Baked

November 2, 2016

Today’s was a meeting without a scheduled press conference, and the lack of a policy change eliminated any need for a change of plans in that regard. My preview mentioned that the statement might say something definitive about its December meeting; that didn’t happen. In today’s statement, some tweaks were made to the opening paragraph […] More

Central Bank Watch

FOMC Preview

November 2, 2016

This week’s FOMC meeting will culminate with a released statement from the committee at 14:00 EDT from Washington (18:00 GMT). Monetary officials are not issuing new forecasts this time, nor will the meeting be followed by a press conference. The FOMC is not expected to change the 0.25-0.50% federal funds target range, in effect now […] More

Deeper Analysis

Euro Area Factory PMI Rose More Sharply than U.S. PMI in October

November 2, 2016

The U.S. manufacturing purchasing ¬†managers index increased 0.4 points to 51.9 last month. While subindices for jobs, prices and ¬†production climbed by 3.2, 1.5 and 1.8 points, that for new orders dropped 3.0 points. The PMI level was at a 3-month high, nonetheless. Euroland’s PMI improved 0.9 points to a 33-month high of 53.5. All […] More

New Overnight Developments Abroad - Daily Update

Markets Hedging Against Possible Trump Win

November 2, 2016

U.S. opinion polls indicate a considerably tighter race between Trump and Clinton. International investors are extremely worried about a Trump presidency. Some people are withdrawing cash just in case. Best scenario may be a narrow Clinton victory, continuing Republican control of Congress, stalemated governance in Washington, and the uncertainty of what the Clinton emails might […] More

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