Single Currency Rises
The single currency has increased. Euro/Dollar is up 0.14% at 1.1857. Germany is going to publish Preliminary Consumer Price Index and the US will announce Preliminary Gross Domestic Product. Also, today Janet Yellen will have her last Congressional testimony. French Consumer Spending reduced 1.9%, preliminary Q3 Gross Domestic Product stayed at 0.5%.
Future Fed Chair Jerome Powell delivered his speech before Senate Banking Committee. He confirmed the case of a rate lift in December. Powell added that inflation will rise and that current policy fits economic condition. When asked about the tax bill, he didn’t give any answer. His policy isn’t expected to differ from Janet Yellen’s one.
As we already know, Angela Merkel is going to negotiate with SPD and form a Grand coalition. She is getting ready to meet with SPD and CSU leaders. The Chancellor is hoping that there would a mutual understanding between the parties. But, some SDP members might refuse cooperating with Merkel’s CDU. The discussion is likely to begin after the new year.