Greenback Subdued, Long-Awaited Changes in BoE
The greenback has significantly declined as Fed had once again stood pat. Members have only lifted their growth forecasts. Today, Donald Trump will appoint Jerome Powell as the next Fed Chair. The latter will get down to work next year. President’s administration will announce some details of the tax bill. Bank of England is expected to execute the first rate hike in ten years. It’s also supposed to release its quarterly inflation report, which gives a solid boost to the Pound.
Shinzo Abe (Japan Prime Minister) said he’s satisfied with what BoJ Governor Haruhiko Kuroda has done throughout his term. The PM acknowledged that Japan is no longer in deflation period, the government and the Central Bank has cooperated and that employment has strengthened. But, when asked about who will become the next governor, Abe said that he hadn’t decided it yet.
Aussie has reinforced thanks to positive economic figures. Trade surplus increased to 1.75 billion of Australian dollars in September. Building approvals rose 1.5% last month. Japan monetary base lifted 14.5% yoy. Today, Swiss will announce retail sales, SECO consumer confidence. Eurozone will feature PMI manufacturing revision and German unemployment. Britain will show construction PMI. From US, we’ll get jobless claims, Challenger job cuts and non-farm productivity.