Risk appetite got a strong boost at the opening of this week after US President Donald Trump and his Chinese counterpart Xi Jinping agreed over the weekend to put tariffs on hold and try to solve their differences within 90 days. Market participants are likely to stay on the edge of their seats in anticipation to fresh headlines with regards to the matter but also keep an eye on Brexit and Italy. However, this week appears busy in terms of economic developments as well. The RBA and the BoC hold their last policy meetings for the year, while the US jobs report is likely to attract extra attention, especially after Powell’s speech and the release of the Fed minutes last week. As for the energy market, all lights will fall to the OPEC+ gathering in Vienna.
Monday is a PMI day. During the European morning, we get the final manufacturing PMIs for November from several European nations and the Eurozone as a whole. As usual, the final prints are anticipated to confirm the preliminary estimates.
In the UK, the manufacturing PMI is forecast to have risen to...
On Tuesday, during the Asian morning, the Reserve Bank of Australia decides on monetary policy, but once again, we don’t expect any fireworks. The Bank has been stubbornly keeping its benchmark cash rate unchanged at...
Read the full financial markets weekly outlook on JFD Research.