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The week ahead 08.10.2018

08/10/2018

Markets get off to a slightly quieter start this week with both the Columbus Day holiday in the U.S. and Thanksgiving in Canada falling today the markets will be closed throughout North America. Important data releases are naturally thinner on the ground with only Thursday’s U.S. CPI data standing out as being of obvious interest. As a word of caution, the meeting of the IMF/World Bank in Bali this week has the potential for unguarded or provocatively reported comments to cause unexpected ripples. The main factor to consider today is the decision by the Peoples Bank of China to cut of the Reserve Requirement Ratio (RRR) by 1% with effect from next week. With the RRR standing at a substantial 15.5% for larger Banks and 13.5% for the second tier in a move designed to boost domestic lending/spending to soothe Chinese nerves while the sparring with the U.S. over trade imbalances continues.

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