Market Overview
• Worldwide coronavirus cases surpass 258.298 million with over 5.173 million official
deaths.
• New Zealand has 4614 active cases of coronavirus with 205 new cases today and 2 deaths. Meanwhile, the Australian State of New South Wales reported 180 new cases and 1 death yesterday with Victoria reporting 1029 new cases with 3 deaths
• Fed Chairman Jerome Powell has been re-elected, his second term will end February 2026
• ECB’s Knot has said he sees no indication that inflation will keep going up past expectations
• We see a 30% chance that the RBNZ will raise rates by 50 points tomorrow
• China sees rate cut of 25 points by the end of 2021
• Australia flash OPMI for November – Index 58.5 vs expected 60.7- Services 55.0 vs 52.7 expected
• The AUD is the strongest and the Japanese Yen is the weakest main board currency this week
Major Announcements last week:
US Retail Sales for October prints up 1.7% vs 1.0% expectations
UK CPI y/y 4.2% up from September’s 3.1%
US Employment claims w/e 20 Nov 268k vs 260k expected
UK Retail Sales up 0.8% in October