Tuesday 21 November 2017

Investors await more clues on Trump plans

U.S. President-elect Donald Trump Photo: Reuters
U.S. President-elect Donald Trump Photo: Reuters
Independent.ie Business Desk

Independent.ie Business Desk

Clues on future US policy under Donald Trump rather than economic data will likely dominate minds and markets in the week ahead given a US interest rate hike in December is now a near-certainty.

Investors are making plans with an implied market probability of a December rate hike in the mid-90s percent, but they are much less sure about what a Trump presidency will mean.

James Bullard, a voting member of the US central bank's rate-setting committee, said the Federal Reserve will raise US interest rates in December barring a major shock.

In Britain, chancellor Philip Hammond will offer firm plans with his autumn statement on Wednesday.

No longer seeking a budgetary surplus by 2019/20, the British government is expected to announce raised spending on roads and railways.

On continental Europe, German business morale from the Ifo institute may be the big number.

It is expected to be broadly unchanged from a two-and-a-half year high set in October.

In Ireland, Origin Enterprises will post a trading update on Friday, when its agm will also take place.

Its last update was a set of full-year results which showed pre-tax profits dropping by 25pc - shareholders will be anxious to hear how this year is going. (©Reuters)


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