The US Federal Reserve is releasing minutes from its October Federal Open Markets Committee meeting on Wednesday.

Fed Mins

During that meeting, the Fed went for a contentious interest rate cut for the third time this year as chairman Jerome Powell stated that the central bank was acting to protect the already strong US economy against adverse effects from abroad, such as slowing economies and the trade war with China.

The minutes will give a chance to market-watchers and investors to see the divisions within the bank better and get clues regarding the FOMC’s next year rate decisions.

ECB’s Turn

The European Central Bank is also releasing minutes from its October monetary policy meeting on Thursday. The account of the meeting is of heightened interest to ECB-watchers given the wider divisions during that meeting led for the last time by the bank’s former President Mario Draghi.

ECB’s new boss Christine Lagarde is set to give a speech on the fresh era at the bank and her primary policy objectives on Friday. But before that, she is set to convene the governing council for the first time on Wednesday.

But First RBA

The Reserve Bank of Australia will be the first major bank to release minutes from its monetary policy meeting held last month. The RBA’s Tuesday release will partly show investors what to expect from the next meeting next year.

PBOC Rate Decision

In the trade war-hit China, the People’s Bank of China is scheduled to decide on its official interest rate decision on Wednesday. The PBOC unexpectedly kept its benchmark lending rate unchanged at 4.20% during its meeting last month.

G20 Summit

Japan is preparing to host a two-day-long summit of foreign ministers from the G20 countries in the southern city of Nagoya on Friday. The summit will bring together nations that are at geopolitical, diplomatic odds, such as the US, Russia, China, South Korea, and Japan.

Geopolitical Flashpoints

The Sino-US trade talks will be closely followed throughout the week after weekend “constructive” phone calls between top negotiators, per the Chinese state media.

The protests in Hong Kong that are getting ever more violent will be affecting Asia-Pacific markets as the Communist Beijing government ponders on how to quell the unrest in the autonomous, democratic city-state.

Iran has now entered a period of unrest after rising fuel prices. Protests against the Islamic Republic’s regime have rocked the capital as authorities almost entirely shut down citizens’ access to the internet.

Elsewhere, in the United Kingdom, we will be watching TV debates on Tuesday between the leaders of the ruling Conservatives — Prime Minister Boris Johnson and his main opponent Jeremy Corbyn of the Labour Party ahead of the December 12 snap elections.

The public hearings at the US Congress in the impeachment inquiry into President Donald Trump remains in the focus.

Economic Calendar

Tuesday: RBA Meeting Minutes, US Building Permits, Japan Balance of Trade, RBA Gov Lowe Speaks

Wednesday: China People’s Bank of China interest rate decision, Canada Core CPI, US Crude Oil Inventories, US Federal Reserve FOMC Meeting Minutes

Thursday: Britain Bank of England MPC Treasury Committee Hearings, Eurozone ECB Account of October Monetary Policy Meeting, US Philadelphia Fed Manufacturing Index, Bank of Canada Governor Poloz’s Speech, US Existing Home Sales

Friday: Germany GDP, Germany Manufacturing PMI, ECB President Lagarde Speaks, UK Manufacturing PMI, UK Services PMI, Canada Core Retail Sales


Please enter your comment!
Please enter your name here