A busy week lies ahead for central bank watchers and trade war enthusiasts as Fed officials pile on their views ahead of the 2-week blackout period and Trump-Xi meeting gets under way later this week. All currencies are up against the US dollar with the exception of the Japanese yen as global indices push higher across the board. EUR retests the 1.1380s after Armando Siri (econ adviser to Salvini) said to Il Messaggero that “a little fine-tuning of the budget” remains possible. The Italy-German 10-year spread falls to a 7-week low of 2.87%. ECB president Draghi is due to speak today to the EU Parliament at 14:00 London time and again on Thursday. On Wednesday, Fed Chair Powell speaks at the always interesting Economic Club of NY. The Fed minutes of the Nov 8 meeting will be issued on Thursday. Four other Fed officials are expected to appear later this week, so watch out for any signs of reduced Fed hawkishness. On Friday, an additional Premium long was issued on a major equity index, based on favourable seasonality patterns.
