|TueNov 19||2:00am||CHF|| |
CBI Industrial Order Expectations
Manufacturing Sales m/m
FOMC Member Williams Speaks
GDT Price Index
Gov Council Member Wilkins Speaks
Prime Minister Johnson Speaks
MI Leading Index m/m
tweet at 11:38am: US and China are said to tie relief on tariffs to the failed deal from May -BBG tweet at 11:39am: @niubi The near-deal between the U.S. and #China that fell apart six months ago is now being used as the benchmark to decide how much tariffs should be rolled back in the initial phase of a broader trade agreement, people familiar with the talks said - Bloomberg
tweet at 1:00pm: Despite threats, Canada's financial system remains resilient -WilkinsWilkins: Financial Stability in an Uncertain World It’s always a pleasure to be here in Montréal. I’d like to thank the International Finance Club of Montréal for the invitation. Today, I’d like to speak with you about financial stability in Canada, in a world that seems more and more uncertain. This is part of our commitment to update Canadians twice a year about financial-stability issues that are relevant to them.1 The Canadian economy is performing relatively well overall. Inflation is close to target, the unemployment rate is near historic lows, and wage growth has picked up. There are, nonetheless, important regional differences. The Quebec economy is performing particularly well these past few years, bringing many people back to work. However, the ongoing adjustment to lower oil prices continues to weigh on economic activity in the energy-producing provinces, causing hardship for many people. Beyond our shores, the global economy is facing immense challenges. The trade war between the United States and China is top of mind for all of us. Yes, there is a possibility of an initial deal. Still, uncertainty about trade policy remains high. This uncertainty has caused a global slowdown and even fears of a global recession—though most baseline forecasts, including our own, don’t call for one. Even if the trade war doesn’t get any worse, by 2021 it could cost around US$1 trillion in lost economic output around the world. As you saw in our latest Monetary Policy Report (MPR), Canada’s being hit too, but a domestic recession isn’t in our forecast either. The trade war isn’t the only source of uncertainty. There’s Brexit, tensions in the Middle East and social unrest in Hong Kong and some countries in Latin America. Risk managers here today know how difficult it is to design business strategies in this environment. The Bank of Canada and other authorities must assess the risks and have the right safeguards in place. Ideally, you want to put the winter tires on before the snow falls. It not only protects you, but also everyone else who’s on the road.
tweet at 10:02am: lf President Trump believes China’s economy is crumbling and Beijing will eventually make decisive concessions, he has to wait until Ivanka becomes the president to sign trade deal with China. Chinese economy continues to grow with strong consumption, people are optimistic. https://t.co/FiD4dJpUNh
tweet at 12:06pm: US Pres. Trump: Will Raise Tariffs ‘Even Higher’ If China Trade Deal Is Not Reached - Will See What Happens
The US dollar declined yesterday following President Trump’s comments protesting against high Fed interest rates. We don’t expect these dollar losses to last as the Fed retains ...
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