Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

THE DAILY MACRO BRIEF: IMF, alliance against China, surprise resignation in Argentina

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/26/2018 | 01:49pm CEST

Every day, we review the macroeconomic and geopolitical news that are impacting financial markets around the world. Today, the Fed meeting is expected to result in higher rates, and will provide us with its macroeconomic projections. Following yesterday's meeting between the IMF and Argentina, the Governor of the Central Bank preferred to resign. Washington opposes the EU's plan to continue trading with Iran and has reached a new agreement with its partners, targeting China.

Surprise resignation of the Governor of the Central Bank of Argentina. The IMF and Argentina reached an agreement last June on $50 billion to help the country out of the crisis. The terms of this agreement were revised yesterday, during a meeting between Christine Lagarde and President Macri, to ensure that IMF disbursements are faster and "dispel doubts about Argentina's financing capacity". Luis Caputo, the Governor of the Central Bank, resigned following these new negotiations. According to economist G. Rubinstein, this is "a disagreement with the IMF on its monetary policy". His successor is Guido Sandleris, who has so far been the country's vice-president and main negotiator of the IMF agreement reached last June.


Condemnation of unfair commercial practices. Ministers from the United States, Japan and the European Union met yesterday in New York to discuss measures to combat unfair competition, particularly from China, which is implicitly referred to in their communiqué issued following their meeting.

The White House is strict when it comes to Tehran. Yesterday, it opposed the EU's plan to create a legal entity to continue trade with Iran despite the US embargo. It even made a thinly veiled threat: “We will be watching the development of this structure that doesn't exist yet and has no target date to be created. We do not intend to allow our sanctions to be evaded by Europe or anybody else," said John Bolton, White House National Security Advisor.

FOMC meeting at 8pm. The Fed will issue its monetary policy decision tonight. An increase of 0.25% is expected to avoid the overheating of the US economy, which is in good health despite the trade war context. Forecasts of the country's economic growth, inflation and unemployment rate will also be discussed, which could allow the market to validate its assumption of a further rate increase in December.


Romain Fournier
© MarketScreener.com 2018
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
05:01aChina Growth Slows to 6.5%; Finance Officials Try to Soothe Worried Investors
DJ
04:59aINSTANT VIEW : China's third quarter GDP rises 6.5 percent year-on-year, slowest since 2009
RE
04:59aChina's September property investment slows, sales fall
RE
04:52aCHINA ABLE TO REACH 2018 GROWTH TARGET : stats bureau
RE
04:45aChina Housing Sales Growth Slows
DJ
04:39aKendall Court investing $55 million in Indonesian company's hospital expansion
RE
04:38aMEKONG TOURISM COORDINATING OFFICE : partners with TAT to feature nine new travel corridors on travel inspirational platform Mekong Moments
PU
04:34aAso says U.S. currency report won't restrict Japan's FX policy
RE
04:27aAustralia's NAB cuts 300 staff over wrongdoing
RE
04:25aChina recent stock market fluctuations driven by investor sentiment - central bank governor
RE
Latest news "Economy & Forex"
Advertisement