Europes caution, Chinas hope
Tuesday 16th November 2021The Euro has lost ground this morning, with concerns over COVID, following lockdowns in Holland and Austria, and rising cases in Germany. There remains a very different attitude between the ECB and the Fed, with Christine Lagarde reiterating that in Europe they are in no rush to tighten policy. China\u2019s activity data provided hope that the country\u2019s economy was stabilising. In the US there will be a lot of focus to see whether tonight\u2019s retail numbers are strong, or will they have been pulled down with falling consumer sentiment? The UK\u2019s employment numbers will be watched keenly by the Bank of England, but NAB\u2019s Rodrigo Catril says it\u2019s too soon to provide the full picture needed to determine rate rises. And President Xi and President Biden meet (virtually) shortly \u2013 the start of better relations, perhaps?
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