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RT @ForexLive: CFTC Commitments of Traders: GBP and JPY shorts trimmed https://t.co/uhlmGZJOJm (21hrs ) like | retweet
S&P: Ratings On Ukraine Affirmed At 'B-/B'; Outlook Remains Stable https://t.co/WH2g60DTx4 (21hrs ) like | retweet
Fitch Upgrades Cyprus To 'BBB-'; Outlook Stable https://t.co/pcrgNgo298 (21hrs ) like | retweet
UK PM May's Office: Any Irish Backstop Would Only Be Necessary For A 'Temporary Period' (23hrs ) like | retweet
UK PM May's Office: May Told Businesses She Had A ‘Very Real Sense’ From EU Leaders That They Wanted To Reach A Deal ASAP This Autumn (23hrs ) like | retweet
Fitch Affirms Intel At 'A+'/'F1'; Outlook Stable https://t.co/E4ENc81PDG (1days ) like | retweet
Fed’s Kaplan: 1-2 Year US Yields Are Consistent With Current Rate Projections (1days ) like | retweet
$HAS Hasbro To Cut Workforce In New Round Of Layoffs – WSJ https://t.co/R7SyEiCscm (1days ) like | retweet
Fed's Kaplan: He’s Not Committed On Need For More Rate Hikes Above Neutral Levels, Depends On Productivity (1days ) like | retweet
today’s featured stories
Fed Officials Debated Hiking Rates To Restrictive Territory
Federal Reserve officials stepped deeper into a debate over how high to push interest rates, with a majority appearing to favor an eventual and temporary move above the level they deem neutral for the economy in the long run. “A few participants expected that policy would need to become...
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Federal Reserve officials stepped deeper into a debate over how high to push interest rates, with a majority appearing to favor an eventual and temporary move above the level they deem neutral for the economy in the long run.

 

“A few participants expected that policy would need to become modestly restrictive for a time and a number judged that it would be necessary to temporarily raise the federal funds rate above their assessments of its longer-run level,” according to minutes of the Federal Open Market Committee’s Sept. 25- 26 meeting released Wednesday in Washington. (Bloomberg – Continue Reading)

UK Labour Market Reaction (Oct 2018)
The standout component of today’s report was the strength in wages, as the amount of people in work fell slightly on the month. Estimates 3-months to August 2018, saw the number of people in employment fall by 5K, missing estimates for an increase of 15K. The unemployment level stood at...
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The standout component of today’s report was the strength in wages, as the amount of people in work fell slightly on the month.

 

Estimates 3-months to August 2018, saw the number of people in employment fall by 5K, missing estimates for an increase of 15K.

 

The unemployment level stood at 1.36M, lower by 47K in the 3-months to August 2018. The unemployment rate remained steady at 4.0pct, in line with analysts’ forecasts. However, the economic inactivity rate rose in the period 21.2pct, higher than for March to May 2018 (21.0pct) but lower than the 21.4pct seen a year earlier. (LS – Continue Reading)

US Edges Toward New Cold-War Era With China
The Trump administration is moving deliberately to counter what the White House views as years of unbridled Chinese aggression, taking aim at military, political and economic targets in Beijing and signaling a new and potentially much colder era in U.S.-China relations. In the first 18 months...
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The Trump administration is moving deliberately to counter what the White House views as years of unbridled Chinese aggression, taking aim at military, political and economic targets in Beijing and signaling a new and potentially much colder era in U.S.-China relations.

 

In the first 18 months of the administration, ties between the world’s two biggest powers were defined by negotiations over how to restrain North Korea and ways to rebalance trade. Those high-profile endeavors masked White House preparations for... (WSJ - Continue Reading) 

ECB's Quest For Tighter Policy May Face Challenge From Ester
The European Central Bank’s bid to wean itself away from ultra-loose monetary policy may be challenged by an unlikely development: the creation of a new overnight borrowing rate. Ester, which the ECB will publish by October next year, will eventually replace Eonia as the risk-free rate.
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The European Central Bank’s bid to wean itself away from ultra-loose monetary policy may be challenged by an unlikely development: the creation of a new overnight borrowing rate.

 

Ester, which the ECB will publish by October next year, will eventually replace Eonia as the risk-free rate. However, unlike Eonia that is still anchored by the deposit facility, the Ester rate includes a range of wholesale counterparties that don’t have access to the deposit facility. That could mean fixes below the ECB’s benchmark rate, complicating the exit from years of record-low interest rates, said Bank of America Merrill Lynch. (BBG-Continue Reading) 

UK PM May Brakes On Customs Union Deal With Brussels Amid Cabinet Opposition
UK PM  May refused to endorse a draft Brexit deal negotiated by UK and EU officials on Sunday night amid fears that her Cabinet would fail to back the plan. British officials led by Ollie Robbins, the Government’s chief negotiator, are understood to have struck an...
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UK PM  May refused to endorse a draft Brexit deal negotiated by UK and EU officials on Sunday night amid fears that her Cabinet would fail to back the plan.

 

British officials led by Ollie Robbins, the Government’s chief negotiator, are understood to have struck an agreement on a detailed proposal which would effectively mean Britain remains part of the EU’s customs union for the foreseeable future. It is the first time a Brexit blueprint had been agreed by both sets of negotiators.

 

The EU had expected the Prime Minister to be prepared to announce the outline of a deal as soon as Monday and Dominic Raab, the Brexit Secretary, went to Brussels on Sunday for an unscheduled meeting with Michel Barnier.... (Telegraph - Continue Reading) 

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