Daily Note – Bank of England firmly grounded


  • Currency stirrings in China
  • Brent Crude hits 6-year low
  • United Kingdom: Rates on hold into Q2 2016
  • United States: Import prices fall less than expected

Good morning,

The Chinese currency (Yuan) appears to be headed for its biggest weekly drop since the August devaluation as the Peoples Bank of China continues to lower the value of the currency. Indeed, the PBoC has lowered its daily fixing on seven of the past nine trading days, following the announcement on 30th November that it would be included in the IMF’s SDR basket.

Market attention will now likely shift to November’s real activity indicators, due to be released tomorrow. Industrial production and fixed asset investment are likely to point to a further moderation in growth momentum, while we expect retail sales to have held up given recent tax cuts.

Download a FULL PDF version of the Daily Note:

GlobalMacro360 Daily Note 11th December 2015


The statements, opinions and analyses presented in the articles, newsletters, and other materials appearing on this website are provided as general information and for educational purposes. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. David McWilliams shall not be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.

Categories: Daily Note