Five Things Everyone Will Be Talking About Today

The Fed puts December back in play, Deutsche Bank announces losses and staff cuts, and there’s lots of news out of China. Here are some of the things people in markets are talking about this morning.

December still in play

Federal Reserve officials pivoted toward a December rate hike in a statement released in Washington yesterday and which referred to the bank’s “next meeting” as it discussed the timing of lift-off. Market-based expectations for a rate rise in 2015 now stand at 46 percent this morning, up from 34 percent before the release of yesterday’s statement. Emerging market stocks and currencies have sold off as the dollar strengthened in the aftermath of the statement.

Europe’s big oil reports

Royal Dutch Shell Plc reported its biggest net loss in more than a decade, Total SA posted a third-quarter profit that beat analysts’ forecasts and Eni SpA, Italy’s largest oil producer, reported a net loss as the slump in crude prices continues to take its toll on producers, with higher refiner margins the only silver lining. Here is what to watch for from the oil companies as low prices continue.

Euro-area economic confidence

Confidence in the euro-area economy unexpectedly increased for a fourth consecutive month in October, climbing to 105.9, ahead of economist expectations of a drop to 105.1 in a Bloomberg survey. Seperately, Spanish retail sales grew at the fastest pace in nine months, adding to a run of 14 monthly increases, while inflation in the country remained negative. In Germany unemployment declined more than expected.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.