Bank of Canada Monetary Policy Decision Preview - October 2017
24 Oct 2017, 15:31
Due On Wednesday 25th October 2017 At 15:00 BST, 10:00 EDT, 09:00 CDT
The majority expects the BoC to stand pat when it issues its monetary policy decision on Wednesday, with only two of the 31 surveyed looking for a 25bps hike, following back-to-back 25bps hikes, which have left the BoC’s policy rate sitting at 1.00%.There are several key points supporting the argument that rates will be kept on hold: -- The 50bps...
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RANsquawk EU Open Rundown 24.10.17
24 Oct 2017, 06:54
ASIAAsia equity markets traded with modest gains in what was a quiet and rangebound trading session amid a lack of drivers. Nonetheless, the regional bourses have sspanugged off the weak performance by their US counterparts which pulled back from record levels, with ASX 200 (Unch.) indecisive and Nikkei 225 (+0.2%) mildly positive after the index recovered from early weakness triggered by a firmer JPY to print fresh 21-year...
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RANsquawk EU Open Rundown 23.10.17
23 Oct 2017, 06:58
- Nikkei 225 outperforms after PM Abe wins a supermajority at Sunday’s election.
- Spanish PM Rajoy invokes article 155 to dissolve Catalan government.
- Looking ahead, highlights include UK CBI Trends and US National Activity Index.
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RANsquawk EU Open Rundown 20.10.17
20 Oct 2017, 06:55
Asia equity markets traded with a modest tone amid a very light calendar and mixed US lead, although risk appetite was spurred in US equity futures after the senate voted to adopt the budget resolution which paves the way for a tax overhaul. ASX 200 (+0.2%) pared initial losses amid a recovery in the largest weighted financials sector, while Nikkei 225 (Unch.) failed to benefit from JPY weakness with underperformance seen in Toshiba amid financial-related probes and Nissan after reports it halted some...
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RANsquawk EU Open Rundown 19.10.17
19 Oct 2017, 07:08
- Chinese GDP slows for Q3, while solid Australian jobs data briefly supports AUD.
- NZD underperforms following decision by New Zealand First Party Leader Peters who chooses to back The Labour Party.
- Looking ahead, highlights include UK Retail Sales, US Weekly Claims and Philly Fed Index.
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RANsquawk EU Open Rundown 18.10.17
18 Oct 2017, 06:58
- Asian equity markets modestly higher following the positive close on Wall Street in which the DJIA touched 23,000 for the first time
- CAD and MXN notably firmer after NAFTA ministers agreed to extend negotiations into 2018.
- Looking ahead, highlights include UK Jobs report, US Housing Starts and comments from ECB’s Draghi, Praet and Coeure.
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RANsquawk EU Open Rundown 17.10.17
17 Oct 2017, 06:56
- Another record close in the US spurs buying in Asian equities
- NZD initially lifted by firmer CPI, however political concerns capped gains
- Looking ahead, highlights include UK CPI, German ZEW
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RANsquawk EU Open Rundown 16.10.17
16 Oct 2017, 07:04
- Asian equity markets begin the week in the green with the region bolstered by Chinese data
- Risk on tone sees outflows in JPY
- Looking ahead, highlights include US NY Fed Manufacturing.
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RANsquawk EU Open Rundown 13.10.17
13 Oct 2017, 06:57
- Asian equities traded broadly higher. Upside was capped following the latest mixed Chinese trade figures
- USD mildly weakened across the board as DXY gave up the 93.00 level ahead of a slew of tier 1 US data
- Looking ahead, highlights include US CPI, retail sales, business inventories, Uni. of Michigan and a slew of central bank speakers
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RANsquawk EU Open Rundown 12.10.17
12 Oct 2017, 06:58
- FOMC’s minutes stated that many policymakers felt another rate increase was likely warranted in 2017 despite debate on causes of low inflation
- Asian equities traded mostly higher following further record US closes. USD broadly weaker against its majors post-FOMC
- Looking ahead, highlights include weekly jobs data, US PPI, DoEs and a slew of central bank speakers
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RANsquawk EU Open Rundown 11.10.17
11 Oct 2017, 06:54
- Catalan President Puigdemont announced that he had received the mandate to pursue independence from Spain but said it would not be implemented for a few weeks
- Asian equities traded broadly higher following a positive Wall St close. USD nursed losses against majors overnight
- Looking ahead, highlights include US JOLTS, FOMC minutes, Fed’s Evans, Williams and ECB’s...
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RANsquawk EU Open Rundown 10.10.17
10 Oct 2017, 06:56
- The Greenback weakened overnight amid gains across its major counterparts and EM currencies, with AUD and NZD mildly supported
- Asian equities put in a mixed performance overnight with the KOSPI the outperformer in a catch-up play
- Looking ahead, highlights include UK production numbers, Fed’s Kashkari and Kaplan
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RANsquawk FOMC September 2017 Meeting Minutes Preview
09 Oct 2017, 20:15
Federal Open Market Committee (FOMC) September Meeting Minutes due at 1900BST/1300CDT on Wednesday 11th October 2017The Federal Open Market Committee (FOMC) stood pat at the meeting, in line with consensus.The Committee also announced that it would begin to sspanink the size of its balance sheet in October, as expected, with the process falling in line with a previously disclosed detailed plan.The summary of economic projections saw the FOMC trim its...
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RANsquawk EU Open Rundown 09.10.17
09 Oct 2017, 06:56
- UK politics continues to dominate with reports of preparations for a potential Brexit no-deal and further Tory in-fighting
- Asian equities traded mostly higher with China returning to market for the first time in over a week. Japanese participants away from market
- Looking ahead, highlights include ECB’s Mersch and Lautenschlaeger
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RANsquawk EU Open Rundown 06.10.17
06 Oct 2017, 06:56
- Asian equities traded mostly higher amid yet another strong close on Wall St. with markets now eyeing today’s NFP release
- In FX markets, the greenback extended on yesterday’s gains and the DXY posted its highest level in 7-weeks
- Looking ahead, highlights include US and Canadian jobs reports, BoE’s Haldane, Fed’s Bostic, Dudley and Kaplan
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RANsquawk EU Open Rundown 05.10.17
05 Oct 2017, 06:54
- Asia-Pac trade was relatively contained amid ongoing holiday-thinned conditions and ahead of tomorrow’s NFP release
- As was also the case in FX markets with the main focus being AUD which was pressured following softer domestic retail sales numbers
- Looking ahead, highlights include ECB Minutes, US Trade Balance, Weekly Jobs, Factory orders and a slew of central bank...
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RANsquawk EU Open Rundown 04.10.17
04 Oct 2017, 06:55
- Asian equities traded broadly higher after a positive lead from the US where Sept car sales data helped push indices to record highs
- In FX, the USD softened after Trump aides released a short list of Fed Chair nominees which included current Chair Yellen
- Looking ahead, highlights include Eurozone, UK and US service PMIs, ADP, ISM Non-Mfg, ECB’s Draghi and Fed’s...
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RANsquawk EU Open Rundown 03.10.17
03 Oct 2017, 06:45
- In FX, the USD remained firm against its major counterparts. RBA kept rates unchanged as expected and highlighted the firmer currency
- Asian equities traded mostly higher with the Hang Seng outperforming in a catch-up play from yesterday’s holiday
- Looking ahead, highlights include UK construction PMI, US vehicle sales and APIs
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RANsquawk EU Open Rundown 02.10.17
02 Oct 2017, 06:57
- Asian equities traded broadly higher with many bourses closed for domestic holiday’s
- EUR/USD faced selling pressure following public unrest and clashes during the Catalonian referendum
- Looking ahead, highlights include Eurozone PMIs, US ISM Manufacturing, ECB’s Praet and Fed’s Kaplan
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PREVIEW: Catalonian Referendum on Independence – Sunday 1st October
29 Sep 2017, 14:39
PREVIEW: Catalonian Referendum on Independence – Sunday 1st OctoberBACKGROUNDDespite opposition from the Madrid-based government, the regional government in Catalonia remains committed to holding an independence referendum this weekend. However, despite, the Catalan government passing legislation to hold the referendum, the quest for independence was dealt a blow after the Spanish Constitutional Court declared the...
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RANsquawk EU Open Rundown 29.09.17
29 Sep 2017, 06:56
Asian equities head into the weekend on a mostly positive note as the region digested a slew of dataUSD/JPY nursed some of the prior day’s declines, which was slightly aided by the release of the BoJ’s Summary of OpinionsLooking ahead, highlights include UK GDP, Eurozone CPI, US PCE, Personal Spending, Chicago PMI and a slew of central bank speakersASIAAsia equity markets were positive on what was a range-bound day heading into quarter-end and after a similar close on Wall St,...
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RANsquawk EU Open Rundown 28.09.17
28 Sep 2017, 06:55
Initial gains in Asia-Pac bourses petered out tspanoughout the session with newsflow relatively light and ahead of next week’s Chinese holidayCAD hampered by a more cautious Poloz. RBNZ kept rates unchanged but noted that uncertainties remainLooking ahead, highlights include German regional & national CPIs, US GDP, PCE figures and a slew of central bank speakersASIAAsia equity markets traded mixed after momentum from US petered out and as China prepares for National Day Golden...
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RANsquawk EU Open Rundown 27.09.17
27 Sep 2017, 06:56
Asian equities saw a lack of firm direction overnight after a mixed close on Wall Street which saw the DJIA post its 4th consecutive lossFed Chair Yellen reiterated that a gradual approach to rate hikes is appropriate but also warned of moving too graduallyLooking ahead, highlights include US durables, Pending Home Sales, DoE, RBNZ rate decision and further central bank speakASIAAsia equity markets were mixed amid a lack of catalysts and after similar indecisiveness on Wall St....
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RANsquawk EU Open Rundown 26.09.17
26 Sep 2017, 06:56
Asian equities traded with little in the way of firm direction as equity markets sspanugged off mounting geopolitical tensionsNZD extended on post-election losses with disappointing domestic data adding to the woes for the Antipodean currencyLooking ahead, highlights include US new home sales, APIs, ECB’s Praet, Fed’s Mester and Brainard, US 2yr note auctionASIAAsia equity markets lacked any solid direction after the weak momentum from US where all 3 major indices closed negative...
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RANsquawk EU Open Rundown 25.09.17
25 Sep 2017, 06:58
This weekend saw elections in Germany and New Zealand whereby the incumbents both claimed victory but failed to secure a majorityThis subsequently hampered NZD and to a lesser extent EUR with both main parties now eyeing coalition talksLooking ahead, highlights include German IFO, and a slew of central bank speakersASIAAsia equity markets began the week subdued as FX took much of the focus amid post-election hangovers from New Zealand and Germany where the incumbents in both won...