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Market Recap – BOE monetary policy

Thursday, November 7, 2019 10:26 AM GMT

Throughout 2019, the Bank of England was communicating that the dominant scenario of its monetary policy assumes a Brexit deal. The assumption remained unchanged during the most uncertain periods of the Brexit drama -August and September- driving market participants to believe that an instant adjustment to WTO rules (i.e. hard Brexit) was beyond BOE’s capacity to respond. As we are heading to the snap general elections on December 12, no monetary policy change is expected. The focus turns to the press conference on 12.30GMT.

US and China are set to announce that they will cooperate to halt illegal shipment of opioids, raising hopes that they will additionally reach a trade deal.

Macro releases & Earnings: Yesterday’s macro releases have been positive, with the exception of the US crude oil inventories reading that was almost 4 times higher than expected. Today’s economic calendar includes the Walt Dinsney and TiVo earnings, the  French 10y bond auction, and the US 30y bond auction.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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