Stocks Peaked, NAFTA Renegotiation Unsuccessful
US shares have reached maximum with DOW rising 0.69% to 23590.83, S&P 500 lifting 0.65% to 2599.03 and NASDAQ growing 1.06% to 6862.48. Nikkei increased 200 points. Pound stays the firmest among currencies while Euro is the softest. Robert Lighthizer (US Trade Representative) commented the 5th round of NAFTA renegotiation. He claimed that so far no progress is reached, as Mexico and Canada aren’t sure whether they want to work and create reliable and tight trade relations. On the other hand, Chrystia Freeland (Canadian Foreign Minister) said the main problem is that US is coming up with "extreme proposals" which are disadvantageous and even harmful for other two sides and at some points for the US.
As of German coalition, its seems that the majority would prefer new election and not many people think that Angela Merkel will become a Chancellor again. Benoit Coeure (ECB Executive Board member) noted that improvement of the European economy is beyond robust but inflation is what spoils it all. Coeure is assuming that throughout 2018, we’ll see its growth. Janet Yellen also talked about the US inflation. The Chair said the latter stays the main problem for Fed and it should be directed towards the 2% aim.
Australia Westpac leading index increased 0.1% mom last month, construction work done lifted 15.7% in the third quarter. The US is about to release jobless claims, durable goods, and FOMC protocol.