Bank of England Mark Carney’s speech

Daily update

Yesterday’s markets

• EUR  Markit Services PMI (Oct)
• EUR Markit PMI Composite (Oct)
• Canada Central Bank Governor Stephen Poloz Speaks 

Yesterday explained

The German economy showed signs of rebound on yesterday, with an increase in the private sector. The flash German PMI composite output index stood at 55.1 in October, representing a three-month high. Data released on Yesterday showed economic activity in the euro zone hitting a high for 2016 in October.

Canada Ceneral Bank Governer Stephen Poloz announced that their best plan for the time being is to wait for the next 18 months, a time frame initially interpreted as a curb on additional accommodation. He went on to say that uncertainties kept the Bank of Canada from cutting rates.

Today’s market

• Germany Ifo Business Climate
•  US CB Consumer Confidence
• UK Central Bank Governor Mark Carney Speaks
• European Central Bank Governor Mario Draghi Speaks

Today’s focus

Today main focus will be on Governor of the Bank of England Mark Carney’s speech. He is scheduled to speak in London before the members of the House of Lords Economic Affairs Committee as regards the economic consequences of UK’s exit from the European Union. Market volatility can be expected. Also all eyes will be on The President of the European Central Bank Mario Draghi’s speech who is scheduled to speak in Berlin. He is expected to talk about the inclination of the central bank to provide further stimulus in December. He is also expected to provide clues as regards the different types of measures that are being planned. Market may remain volatile during his speech.