Opening of the Oceania market with a gap up start ~ Key points and schedule for December 3 ~
◎ Today's Highlights
1)Key Officials’ Remarks
Today, three U.S. officials and one U.K. official are scheduled to speak. The United Kingdom is approaching the final phase of Brexit, with a pivotal moment this weekend. As for Brexit, opinions are split on whether Parliament will ratify it. Additionally, exchange-rate forecasts for the pound have been issued according to each storyline. We will note the Bank of England’s stance.
The United States has already priced in a rate hike for this month’s FOMC, but attention is on the number of rate hikes next year. Forecasts for the number of hikes next year have shifted from 3–4 to 1–2. Triggered by last week’s Powell remarks, the key words are “timing of the end of rate hikes” and “neutral policy rate.” Both terms relate to the timing of ending rate hikes and the target policy rate. Will any notable keywords appear in U.S. official remarks? We are watching how markets react to any such keywords.
2)Risk-On Market
At yesterday’s G20 Leaders' Summit, discussions on countermeasures to protectionism took place, and after the summit, U.S.-China talks were held. Between the U.S. and China, a 90-day postponement of additional tariffs was decided. In response, the Wellington market opened with a wide gap for Oceania currencies. It is a risk-on environment. Going forward, we will watch how Tokyo, European, and New York markets react.
◎ Today’s Event Schedule
December 03 (Monday)
16:00 TRY
17:45 EUR
22:00 USD
23:15 USD
December 04 (Tuesday)
00:00 USD
02:30 GBP
◎ Weekly Schedule
