Thursday 17th December 2020
The US dollar slid overnight as US retail sales figures for November were released. The numbers “were grim” says NAB’s Gavin Friend on today’s Morning Call podcast. Sentiment turned more positive as the session progressed, with rising hopes that a fiscal stimulus deal is imminent. There’s also hope that a UK-EU trade arrangement is getting close, with Ursula von der Leyen saying there is a path to a deal. The FOMC met and announced no changes to interest rates or bond buying. Their forecasts see this year a little less bleak for GDP, and a big stronger than previously forecast for 2022. The Bank of England is also expected to sit on its hands tonight too. The US weekly job numbers are also worth watching – new jobless claims have been rising recently.