The US dollar was broadly stable over the past month, up against the euro and Japan’s yen but down against the New Zealand dollar and sterling. Elsewhere the Norwegian krone depreciated further, hitting new lows. The market appears to lack conviction in terms of the direction of the greenback.
Fair Observer | Leaving the European Union is not that simple. Having pulled off a last-minute agreement with the European Commission to move forward, Brexit Britain is feeling the burn this winter. The next stage is the big one: future trade relations. If all goes well, the talks should be coming to a close by fall 2018.
By Guntram Wolff | Jamaica has failed: the negotiations to form a new government in Germany were ended by the liberals. The breakdown was certainly a shock to the Berlin political establishment. It is quite unusual for Germany to take such a long time to negotiate the formation of a new government.
Another Thanksgiving weekend, which traditionally kicks off the shopping season, is history and has made history as well. More than 174 million Americans shopped in stores and online from 23-27 November, i.e. the weekend from Thanksgiving to Cyber Monday with an average spending of USD 355.47 per person.
After China’s 19th Party Congress now behind us, the primary takeaway is that President Xi Jinping has cemented his role as the most powerful leader in China since Mao Zedong. The financial reforms should lead to tripling in the size of US bond market to $37.5 Tr, stock market capitalization rising to $31 Tr and banking assets of $68 Tr.
| So, what’s in a border? Conventional wisdom suggests that borders divide people, societies, states, economies and legal systems. In the case of Brexit, however, the Irish border might just become the pulling factor that could keep (at least a part of) the UK in a close relationship with the EU.
In the fifth round of renegotiations regarding the modernisation of the North Atlantic Free Trade Agreement, no progress was made on the major points of contention. Now the sixth round will take place in Washington in December 2017. While this is not AXA IM’s central scenario, there is still a risk that the negotiations break down.
Last Friday, the UK and the European Union finally presented a 15-page exit deal, ending six months of tedious negotiations. According to Julius Baer’s analysts “it was the breakthrough UK Prime Minister May needed so badly”, but looking at the details, “the deal contains some serious political stumbling blocks.”
Mara Tignino and Antonella Angelini | Since its establishment in 2012, the UN Forum on Business and Human Rights has been the global standard for preventing and addressing adverse impacts on human rights connected to business activity.