Market Insights 21/11/2023
ECB Discussion on Democracy and Inflation:
President Lagarde explores the link between inflation and democracy.
Schnabel adds insights to the discussion.
Canada’s CPI Report and Bank of Canada Decision:
Last CPI report before the upcoming Bank of Canada Decision.
China’s Smartphone Exports Decline:
Global demand shrinks; production relocates.
RBA Governor Bullock Speaking:
Important speech by Reserve Bank of Australia Governor Bullock tomorrow.
AUD Movement:
Australian dollar bid on Bullock’s speech.
RBA minutes and Chinese yuan strength impact AUD.
Yuan Reference Rate Impact:
Australian dollar jumps post strong onshore yuan reference rate setting.
PBOC sets USD/CNY central rate below estimates.
USD/JPY Decline:
USD/JPY extends lower, approaching 148.00.
RBA Minutes Insights:
RBA minutes reveal intense focus on inflation and associated risks.
Bullock expresses increasing optimism about the labor market.
Crude Oil Developments:
UAE to increase oil output target from January.
JP Morgan predicts flat Brent crude prices in 2024 at $83/barrel.
China’s Property Developer Funding:
Chinese authorities curate funding list amid growing default risks.
Market Movements:
USD weakens as rates ease, boosting stock prices.
Barclays forecasts higher 2024 European equity prices.
New Zealand Trade Data:
Rising exports reported in New Zealand’s October trade data.
Australian Consumer Confidence:
Weekly consumer confidence in Australia records one of its 10 worst results since COVID.
Global Economic Outlook:
Analysts anticipate receding rates pressure, influencing European equity prices.
Overall Market Summary:
Summary of key market movements, including stock uptick and USD decline.