- US Dollar stronger on Federal Reserve and China call
- Australasia dominates later news
People are talking about cinema chain, Vue, banning the showing of Blue Story, as though it is racist or classist or some kind of ‘ist’, but, if you are seeing violence perpetrated on your premises and your staff and clients are at risk, I think you are entirely within your rights to protect everyone. In fact, it would be negligent not to. Vue are under no obligation to show any movie. And it isn’t without precedent. A Clockwork Orange was banned in a number of areas when it was released in 1971. I was underage, I’ll admit it, but managed to sneak in with some friends at The Warner West End in Leicester Square (as it was known then). I didn’t attack anyone with a machete when I left, though…
Washington phone call gives hopes to resolving US-China impasse
It is being reported that a phone call between Washington and Beijing apparently “reached consensus on properly resolving relevant issues” and may be a path to resolving the standoff between the US and China over trade. That steadied the markets in Asia and we saw Hong Kong’s share prices rise as well, however, the public offering of Alibaba – Asia’s Amazon – was very well received and hugely oversubscribed. That was also a factor in Hong Kong’s advance. Sadly, the reaction in Beijing to the landslide success of the opposition candidates in Hong Kong’s local elections has been… shall we say… muted.
That US-China phone call also strengthened the US Dollar by half a cent. I suspect traders will be more convinced when actual deals are outlined. That may also have been helped by Jerome Powell, the Federal Reserve Chairman, who sees the glass as more than half full. Good to know. There is plenty of US data today</a>; the most influential of which are likely to be consumer confidence and new home sales. With the crucial (for us retailers) Black Friday binge coming up this week, happy spenders are in demand. The forecasts reflect an expectation of increased confidence. That would be positive for the USD if true.
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High tech collaboration ahead?
Australasia is in the news. There is talk that Australia and America will join forces on rare earths to break China’s hold on the materials used in high tech products like smartphones, cameras, fighter jets et al.
Watch out for this economic data
We will get a couple of Reserve Bank of Australia speakers this morning, which could impact the Aussie Dollar. So be ready.
Later tonight, as well as New Zealand releasing their trade balance, we will get a stability report from the Reserve Bank of New Zealand and a speech from Governor Orr. Overnight automated orders are a good option for NZD buyers and sellers alike. Speak to your Halo Consultant if you would like to understand how that might work for you.
Politics continues to provide impetus for the Pound
Other than mortgage data this morning, there is nothing much coming from the UK market today. I am sorry to report that we’ll have to rely on politics to drive the Pound. I don’t think any of us can take it anymore.
Chief Rabbi attacks Labour leader
And the UK election took a religious turn today when the UK’s Chief Rabbi and the Archbishop of Canterbury both took swipes at Jeremy Corbyn over anti-Semitism claims; the Rabbi urging British Jews to vote for someone else. It seems like every day brings a new first in this era of UK politics.