News this past week
- Oil prices rise as OPEC agrees to curb production
- US Q2 GDP revised upwards
- UK PM announces deadline for triggering Article 50
- Eurozone see encouraging economic data releases
- Japanese markets fall as deflation continues
James Klempster (CFA) of Momentum Global Investment Management shares his view:
Contrary to a very quiet period towards the end of summer, recently markets have moved a bit more freely. Macro surprises are in short supply, however, and it seems that the political environment, dominated as it is by the US election, Brexit and OPEC, is creating bountiful news flow and moving markets of late. Other political events have also been noteworthy such as the German government’s intervention, or lack thereof, to take the pressure off Deutsche Bank and the US House Financial Services Committee’s grilling of Wells Fargo CEO John Stumpf following a false account scandal at the bank, but the focus this week is on the US, the UK and OPEC.