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It’s an election day in the UK. Traders will watch exit polls. The results will start arriving after 00:30 MT rime on Friday. The results of the vote will become clear by 4:00-5:00 MT time.
The latest opinion polls showed that the Conservative Party has a small majority. This means that the risk of a hung parliament is substantial and the fate of the GBP is hanging in the balance.
In the meantime, Boris Johnson, Prime Minister and the leader of the Conservatives, was in no mood to talk: he hid in an industrial fridge to avoid journalists’ questions.
The first meeting of Christine Lagarde as the President of the European Central Bank. Analysts at UBS expect that she will deal with the divided Government Council and won’t initiate any new policy action. Still, the Lagarde may try to make the news. She may comment on the policy tools available to the central bank. In addition, the ECB may lower growth and inflation forecasts for the euro area.
Yesterday, the Federal Reserve kept its interest rate unchanged at a 1.5%-2% range during its meeting. What is more important is that the Fed’s dot plot indicated the federal funds rate at 1.6% in 2020, without any changes. You can read more about the outcome of the meeting here.
Today, US President Donald Trump plans to meet the top trade advisers to discuss tariffs on China. The meeting will be crucial ahead of the tariffs deadline on December 15. According to an anonymous source, the US administration will raise tariffs on Sunday, but the final word will still belong to Trump. The fresh tariffs will increase uncertainties in the process of the US-China trade deal and be hurtful for the risk-weighted assets, such as the AUD, the NZD, and stocks.
Follow the news and our social networks: Telegram and Facebook to stay up to date with the changes!
After Trump-Biden debates the market reaction was initially positive, but Trump's refusal to accept election results in case of Biden’s victory deteriorated the overall sentiment.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment has switched to risk-on, driving upwards stocks and riskier currencies and weighing on the US dollar.
Non-Farm payrolls will be out on Friday at 15:30 MT time! Are you ready?
US ISM Manufacturing PMI is coming out on Thursday at 17:00 MT time! Be ready!
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