More than 140 characters of information
- Today, US President-elect Trump is scheduled to substitute a press conference for his Twitter feed. His victory speech changed market perceptions with its unexpected infrastructure focus. Investors are starved of policy details, heightening interest in today's pronouncements.
- Trump's ability to influence the near-term economic landscape is constrained, in part by Congress. Markets have already priced in fiscal stimulus, and more aggressive proposals would probably run into political opposition. The US president has considerable autonomy over tariffs and trade, however, and that is where investor attention is likely to focus.
- The euro area is throwing up consumer price inflation in Greece and Portugal. Oil effects will increase these inflation figures, just as oil has increased inflation elsewhere. The difference is that underlying inflation in Greece and Portugal remains very weak – in contrast to economies like Germany where inflation is leaping ahead.
- The Canadian at the Bank of England is to testify before the UK parliament. Some politicians (globally) have seemingly forgotten why central banks were made independent, and this has led to a trend of more hostile questioning of central bankers. Assorted Trump nominees will parade before Congress today too.