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Tuesday, November 1

1st Nov - BoJ, RBA unchanged before Fed

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Swedish monetary conditions are becoming too easyLars Christensen

Great Graphic: Sentix Shows a ShiftMarc Chandler
Investors attribute a higher risk to Italy leaving the EMU than Greece.  Moreover, it is not a spike, but a gradual increase in the risk that Italy leaves, while the risk that Greece leaves are stable after easing near midyear. 

Carney's Longer BOE Term Won't See Brexit Britain Out of Woods – BB
U.K. Factories Hail Pound Boost to Exports, Fret About Costs – BB
UK Manufacturing PMI – Markit
GBP: digging bottom – Nordea

Clinton or Trump - free trade is under pressureNordea

ISM Manufacturing index increased to 51.9 in OctoberBill McBride

US Labour Market MonitorDanske Bank
October jobs report important input in Fed's decision whether to hike or not in December

The Fed Meets in November to Tee Up a Hike in December – BB
Fed to hold rates steady, put December hike firmly in view – Reuters
Fed to hint that December rate hike is likely? – Nordea

The Origin Story of Modern Finance Joshua Brown
The story of Deutsche is yet another in the endless litany of the global elites, taking their self-serving ideals too far in the real world, with the tacit approval of easily bought-and-swayed governments looking on.

Goldman: Oil To Low $40 On "Declining Probability Of OPEC Deal"ZH

BOJ unchanged; Warns Growth, Inflation Outlook Skewed To Downside – ZH
BOJ keeps policy steady, delays inflation target again – Reuters
BOJ Stands Pat Even as It Delays Timing of Inflation Goal – BB
BoJ: stand by with a shade of dovishness – Nordea

RBA Holds Cash Rate Target at 1.5% - BB
RBA Holds Cash Rate as ‘Brisk’ Housing Market Outweighs CPI – BB
Bets Are Off for Future RBA Rate Cuts, But Keep One Eye on China – BB

Strong Chinese PMI adds to global reflation theme – Danske Bank
PMI reports point to good second half for Chinese economy – Pictet
Nine Charts that Show China's Economy Is On A Tear – BB
Asian factories crank up output – Reuters
Japan Manufacturing PMI – Markit
China Manufacturing PMI – Markit

Danske DailyDanske Bank

Improving Chinese data, Carney stays for longer, eyes on PMIs * Euro-area inflation only slightly up * Narrow trading range on the final day of month * Sterling supported by Carney staying in office

Morning MarketsTF
The Bank of Japan sees its 2% inflation target first reached in April 2018. Today British PMI data will tell us more about manufacturing and about how much exporters profit from the weakness of the GBP which was triggered by the Brexit vote.

Euro wrap-upDaiwa

Daily Market CommentMarc Chandler
Dollar and Yen Slip in Quiet even if Eventful Turnover

Daily Market CommentMacro Man
Three Tuesday thoughts

Daily Press SummaryOpen Europe

Brussels PlaybookPolitico

Five Things You Need to Know to Start Your DayBB
Oil stays low * Carney staying at the BOE * BOJ holds, China data beats * Markets inch higher * One week to go
Global Bond Selloff Resumes; Stocks Rise Following Strong Chinese Data


FX Update TF
AUDUSD is mulling a sixth assault on the 0.7700+ resistance after a supportive RBA statement overnight and a bump in the Chinese PMI surveys. But in the meantime we’ve got a heavy load of US data and the US election early next week.

USA:n teollisuuden luottamus nousussa * Japanin keskuspankki piti ohjauskoron odotetusti -0,1 prosentissa * Kiinan ostopäällikköindeksi (PMI) yllätti positiivisesti * Ison-Britannian ostopäällikköindeksissä (PMI) odotettavissa laskua