Things To Look Out For Today - Events & Data (Ldn Times)...

Asia:
01:30am  - Aussie Westpac Leading Index
Europe:
09:30am  - UK CPI, RPI, PPI
09:30am  - UK House Price Index
10:00am  - Eurozone Construction Output
10:00am  - Eurozone CPI
US:
01:00am  - Fed's George Speaks on Eco Outlook
12:00pm  - US MBA Mortgage Applications
13:30pm  - US Housing Starts
13:30pm  - Building Permits
15:00pm  - Fed's Chair Powell Speaks at House
19:00pm  - US Beige Book
Market Focus this Morning...
- Fed's Powell at his testimony said labour markets had strengthed and the best way 'for now' was to keep gradually raising rates, whilst the gradual unwind of Fed balance sheet was running smoothly and wanted to see overall inflation symmetrically around 2%.
- Fed's George, (non-voter, hawk), commented that the economy is in 'excellent' shape, firing on all cylinders; gradual Fed hikes needed to lift rates to neutral.
- Jeffrey Gundlach commented, couple years ago Fed was on hold until data improved. Now Fed in quarterly hike mode ‘til data weakens. But when that happens it’s too late.
- ECB's Rehn said the ECB should not tie its hands too early when it comes to future monetary policy decisions, but look instead at how the economy pans out, although markets seem to be reading forward guidance correctly.
- EU to urge members to prepare for no-deal Brexit, according to the Telegraph
- Brexit vote in House of Commons to tie PM May's hands by forcing her to sign up to a customs union if she fails to get a deal that would allow free and easy trade between the European Union and the U.K. by early 2019 was defeated by 307 to 301.
- BoE's Carney said in the event of no-deal Brexit scenario there would be big economic consequences.
- China Securities Journal reports that low money market interest rates won’t last, and rates have bottomed out in China.