Just To Make It Shorter - All About Politics And Durable Goods Orders Today
26 August 2014, 13:21
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- The US dollar is little changed.
- The euro sold into the early gains that carried it to $1.3215 in early European activity.
- Global equity markets are consolidating as well, but the bond markets remain in rally-mode.
- However, main take away many observers drew from Draghi's Jackson Hole speech was that QE may be imminent.
- The political turmoil in France is more a cabinet reshuffle than a collapse of the government as it had appeared yesterday.
- Japan Prime Minister Abe is expected to announce a cabinet reshuffle next week (September 3).
- However, a small tell that it is not as confident as it may appear was revealed in how it characterized industrial output.
- The July US durable goods orders report the main economic data of the day.
- The consensus continues to be for the first Fed rate hike in Q3 next year.
- On the political front, the Russian-Ukraine-EU meeting is very much the focus.
- Putin's ploy should be well understood in the United States.
- There will be two important political developments in Brazil today.
