What you need to know before the open – 14/11
Europe is set to open higher this morning after US markets saw a record close and Fed chair elect Janet Yellen's dovish remarks to the Senate Banking Committee last night.
dunno how Republican Congressmen will feel about her but markets have a crush on Janet Yellen.
— kit juckes (@kitjuckes) November 14, 2013
Yellen commented that unemployment "is still too high, reflecting a labour market and economy performing far short of their potential", seemingly suggesting that the Fed could be a way away from a December taper.
We're expecting a bear squeeze rally at the European opening this morning. Inflation report was not that negative- FTSE +42, DAX +55 CAC +30
— David Buik (@truemagic68) November 14, 2013
RT @ETXCapital: ETX Capital #MorningCall FTSE +45, DAX +70, CAC +30, Spain +70, DOW +35, S+P +5
— Ishaq Siddiqi (@IshaqSiddiqi) November 14, 2013
Key events:
- Italian GDP (third quarter flash estimate) at 9.00am.
- UK retail sales for October at 9.30am. Expected at 0.0 per cent from 0.6 per cent.
- Eurozone GDP (third quarter flash estimate) at 10.00am. Expected at 0.2 per cent from 0.3 per cent.
- US nonfarm productivity (third quarter flash estimate) and continuing jobless claims at 1.30pm. Nonfarm productivity expected at 1.8 per cent from 2.3 per cent.
- US FOMC member Yellen speech at 3.00pm.