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Dynamic quotes 
OFFON

Romain
Fournier

Journalist
By the same author
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THE DAILY MACRO BRIEF: New leadership at the Financial Stability Board, Fed rates, Jim Acosta…

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11/20/2018 | 08:12am EDT

In a week's time, the position of Chairman of the Financial Stability Board will be vacant. The Vice President of the Fed is a candidate. According to a new survey, the chances of the Fed raising rates only twice in 2019 are increasing. Tomorrow, the European Commission will decide on Italy's fate regarding its 2019 budget.


A member of the Fed could take over the leadership of the Financial Stability Board. The term of office of the Chairman of the Financial Stability Board, Mark Carney (Governor of the BoE), expires on December 1. He could be replaced by the Vice President of the Federal Reserve, Randal Quarles, whose candidacy is supported by the Trump Administration. Its vice-president could be Klaas Knot, the governor of the Central Bank of the Netherlands. As a reminder, the Financial Stability Board is an institution created in 2009 with the aim of reforming financial regulation worldwide. The President is appointed for three years.

The Fed's monetary policy normalization rate could slow in 2019. According to economists interviewed by Reuters in a survey, the Fed is expected to raise its rates by a quarter of a percentage point (to 2.25%-2.50%) in December. Nevertheless, of 102 interviewees, only 54 still believe that three increases will take place next year. The others expect two increases, due to low inflation and recession expectations in the next two years (probability of 35%, compared to 30% in the previous survey).

Back in the House. The White House yesterday issued a new accreditation to CNN journalist Jim Acosta, after withdrawing it following a tense exchange with Donald Trump in early November.


The European Commission will issue its verdict tomorrow. The head of the overall strategy for the management company Muzinich & Co Fabrizio Pagani said in an interview that even if the European Commission were to open an excessive deficit disciplinary procedure against Italy, it would not apply severe economic sanctions to the third largest economy in the euro zone, as this would be "counterproductive to European interests". For his part, Italian Council Vice-President Luigi Di Maio believes that a solution can be found if Brussels does not remove "the (main) measures from the budget".

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -1.03% 0.7157 Delayed Quote.3.08%
BRITISH POUND / US DOLLAR (GBP/USD) -0.66% 1.3051 Delayed Quote.-0.93%
EURO / US DOLLAR (EUR/USD) -0.03% 1.1784 Delayed Quote.5.90%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -1.32% 0.65931 Delayed Quote.-0.57%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.9649 Delayed Quote.-0.24%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 72.76 Delayed Quote.21.43%
US DOLLAR / BRAZILIAN REAL (USD/BRL) -0.03% 5.4368 Delayed Quote.32.65%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.01% 1.3382 Delayed Quote.2.55%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.00% 6.967 Delayed Quote.-0.14%
US DOLLAR / CROATIAN KUNA (USD/HRK) 0.87% 6.3333 Delayed Quote.-6.39%
US DOLLAR / CZECH KORUNA (USD/CZK) 0.00% 22.279 Delayed Quote.-2.32%
US DOLLAR / DANISH KRONE (USD/DKK) 0.69% 6.3161 Delayed Quote.-5.81%
US DOLLAR / DIRHAM (USD/AED) 0.00% 3.6728 Delayed Quote.0.00%
US DOLLAR / HONGKONG-DOLLAR (USD/HKD) 0.00% 7.7504 Delayed Quote.-0.52%
US DOLLAR / HUNGARIAN FORINT (USD/HUF) 0.00% 293.52 Delayed Quote.-1.27%
US DOLLAR / INDIAN RUPEE (USD/INR) 0.00% 74.97 Delayed Quote.4.96%
US DOLLAR / INDONESIAN RUPIAH (USD/IDR) 0.00% 14645 Delayed Quote.5.07%
US DOLLAR / ISRAELI NEW SHEKEL (USD/ILS) 0.00% 3.4091 Delayed Quote.-1.41%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.28% 105.872 Delayed Quote.-2.87%
US DOLLAR / KUWAITI-DINAR (USD/KWD) 0.00% 0.3055 Delayed Quote.0.66%
US DOLLAR / LITHUANIAN LITAS (USD/LTL) 0.00% 2.8345 Delayed Quote.0.00%
US DOLLAR / MEXICAN PESO (USD/MXN) 0.00% 22.387 Delayed Quote.18.43%
US DOLLAR / MOROCCAN DIRHAM (USD/MAD) 0.00% 9.2581 Delayed Quote.-3.55%
US DOLLAR / NORWEGIAN KRONER (USD/NOK) 0.70% 9.0339 Delayed Quote.2.29%
US DOLLAR / OMANI RIAL (USD/OMR) 0.00% 0.3849 Delayed Quote.0.03%
US DOLLAR / POLISH ZLOTY NEW (USD/PLN) 0.65% 3.74365 Delayed Quote.-2.25%
US DOLLAR / ROMANIAN LEU NEW (USD/RON) 0.75% 4.1011 Delayed Quote.-4.56%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.13% 73.583 Delayed Quote.17.89%
US DOLLAR / SAUDI RIYAL (USD/SAR) 0.00% 3.75 Delayed Quote.-0.02%
US DOLLAR / SINGAPORE-DOLLAR (USD/SGD) 0.24% 1.3724 Delayed Quote.1.73%
US DOLLAR / SOUTH AFRICAN RAND (USD/ZAR) -0.01% 17.6297 Delayed Quote.24.43%
US DOLLAR / SRI-LANKA-RUPEE (USD/LKR) -0.10% 185.18 Delayed Quote.2.16%
US DOLLAR / SWEDISH KRONA (USD/SEK) 0.69% 8.74575 Delayed Quote.-7.25%
US DOLLAR / SWISS FRANC (USD/CHF) 0.22% 0.9119 Delayed Quote.-5.92%
US DOLLAR / THAI BAHT (USD/THB) 0.00% 31.22 Delayed Quote.4.32%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.00% 7.2911 Delayed Quote.21.63%

Romain Fournier
© MarketScreener.com 2018
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