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EUROPE
Throwing money at Ankara
won’t resolve this refugee crisis.
EUROPEAN
CENTRAL BANK
Significant easing
expected from ECB – it may struggle to surprise – Open Europe
The ECB is different
(and should be treated as such) – FT
ECB Preview – Mario will
not disappoint – ABN AMRO
Monetary policy
expectations and aggregate EZ shocks – vox
How the ‘euroglut’
thesis became a reality – FT
Swiss example may give
ECB pause on negative rates – IFT
UNITED STATES
We are on the final
countdown to the first rate hike of this cycle. Beyond that, the Fed will
proceed very cautiously.
OTHER
The centrality of policy to how long recessions
last – Simon
Wren-Lewis
REGULARS
U.S. Stocks Slide Into November’s
End
Stocks Pin Hopes on ECB; Shrug off
China Data Miss
Strongest Month of the Year Starts
With Major Events
US ISM index to remain weak * Rates
should rise for the rest of the week on better global data and ECB * EUR/USD at
risk of reversal as policy divergence theme fades * CNY in the SDR basket
The speed of the
Eurozone's recovery is in focus as we head towards December's ECB meeting and
today's Spanish PMI print will show investors how things are proceeding in one
of the Continent's economic standouts.
Dollar Trades Heavier, Key Events
Awaited
Economic indicators from China keep
painting a dismal picture and commodities markets reflect persistently weak
demand from Chinese industry and construction. The offshore yuan is trading at
a discount again in spite of People's Bank of China's intervention. That means
the market is telling China to devalue.
British and German
military involvement in the fight against IS imminent pending parliamentary
approval * Former UK Chancellor: Britain could survive economically outside the
EU * Labour Party launches its campaign to stay in the EU * Poland backs
proposals to establish the EU as a multi-currency union * Turkey arrests over
1,000 migrants and smugglers as Sweden is set to have refugees relocated * EU
anti-terror chief: European intelligence agency “won’t happen” * Head of
Eurozone bailout fund expects Greek debt relief talks to be delayed into next
year * European Commission issues proposal aimed at making it easier for
businesses to raise cash
Climate kick-off —
Danish options — National Front lines
Global Stocks Start Off December
With A Bang, US Equity Futures Rebound; Yuan Drops
The US dollar was broadly weaker
after a dismal Chicago PMI yesterday and as cable refused to take out the
1.5000 level on the first try while AUDUSD bulls were encouraged by another
optimistic RBA statement Three days of dense event risks lie ahead and will be
pivotal for the outlook for the euro and perhaps also for the USD.
As traders brace for
this week's European Central Bank decision US employment report and crunch Opec
summit the US dollar is falling victim to a wave of repositioning that has
boosted major and peripheral currencies crude oil and gold.
FINNISH
Kiina
sai pokaalin takanreunukselle * Ruotsin talous kasvoi vakuuttavasti * Kiinan
elvytys puree teollisuuden luottamukseen vain vaivoin * USA:n teollisuuden
luottamus pysyy aneemisena