News background was rather quiet on Monday, November 5. However, some events may attract your attention:
Australian services sector develops its growth but it is slowing down as it is shown in October report. According to AiG, October Services PMI was 51,1 against 52,5 in September.
Some economists have commented Australian Cash rate. They think that the monetary [policy may remain unchanged until Q1 2020. This forecast is more dovish than the previous one, when Reuters experts supposed Cash rate to be changes in Q4 2019.
Japanese services sector shows growth and expansion. The indicator rose to 52,4 after 50,2 in September. October’s data has reached 6 months maximum and the business growth is at 5 years maximum.
The head of Bank of Japan Kuroda has underlined that he understands the negative role that low interest rates may play, but this type of monetary policy is important for Japan during the period of modest inflation growth and uncertainty on the World economic arena.
Chinese Services PMI slows down. It is still above 50, which means growth. However, October’s data is 50,8 against September’s 52,9.
USD has lost its positions on Monday against most of European currencies due to the announcement of an agreement between EU and Great Britain.
EU Sentix indicator has shown 8,8 points. This data was n not important and influencing.
UK Services PMI was weaker than forecasted. Services sector develops its growth as the indicator is above 50. October’s data declined to 52,2 from 53,9 in September.
ECB’s vice president has commented situation with European banks on Monday. He underlined that banks have to increase their funds. This will increase their reliability according to Guindos.
Another ECB’s representative Smets has commented situation with Italian banks. He underlined that those banks will not get any help until ECB see the data coming from Italy.
The head of Bank of Canada underlined in his comments that low interest rates contained the volatility for the past 10 years. He thinks that World trading crisis may have some effect on World economy. Poloz supports neutral interest rates.
US have reported their Services PMI which has shown growth in October.
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