Happy Thanksgiving - To All Who Celebrate Today !
Thanks giving Messages - From PEOTUS & POTUS
Markets Moving News.....
PBOC sets USD/CNY central rate at 6.9168 (vs. yesterday at 6.9085)
Gold another big mover ... dumpy
USD/JPY on the move ... higher (above 113.60)
Japan - PPI (services) for October: +0.5% y/y (expected +0.3%)
Japan October CPI 0.1% y/y (expected is 0.0%, prior was -0.5%)
More on oil China - Venezuela joint ventures, Cash to Venezuela, oil to China
Europe Indexes & Bond News.....
UK'S FTSE UP 0.1 PCT; FRANCE'S CAC UP 0.2 PCT
GERMANY'S DAX UP 0.3 PCT; SPAIN'S IBEX UP 0.3 PCT
GAP BETWEEN 10-YEAR FRENCH AND GERMAN GOVT BOND YIELDS AT WIDEST SINCE MARCH 2014 AT AROUND 53 BASIS POINTS - TRADEWEB
#Euro tumbles towards parity. Drops to $1.0518, lowest in 20months.
BNP ups Dollar forecast in response to Trump victory. Sees most upside vs Yen. Expects Euro to drop to parity by 2017 on CenBank divergence.
Trump makes #Abenomics great again! Dollar rises above ¥113 for first time since Mar2016.
#OPEC's Economic Commission Board concludes OPEC members should cut #oil production by ~1mbd & nonOPEC by 500kbd. delegate. BBG. #OOTT
#OPEC | diplomatic efforts now focusing on #Iran; as #Iraq problem recedes following PM Abadi's statements. source. BBG. #OOTT
OPEC headlines becoming a total joke: latest OPEC "request" for a Russia cut is now 300Kbpd, down from 880K and 500K earlier
ICYMI: As #OPEC Waits on #Russia, Naimi Memoir Offers Cautionary History http://www.bloomberg.com/news/articles/2016-10-17/as-opec-waits-on-russia-naimi-memoir-offers-cautionary-history … #oil #OOTT
#Iran | Zanganeh wednesday: Ministry plans to increase country’s revenues by raising output of #oil #gas & related products. shana. #OOTT
With #oil output at its highest in 30 years, #Russia is telling #OPEC a production freeze is its best offer https://www.bloomberg.com/news/articles/2016-11-24/russia-tries-to-dress-up-oil-freeze-as-cut-amid-opec-pressure … #OOTT
So Nov. 28 meeting between #OPEC and non-OPEC countries is becoming the make-or-break of the whole output cut talks
#Russia | energy minister Novak thurs: global #oil surplus would be at 1mbd until EOY, from 1.8mbd at the beginning of 2016. reuters. #OOTT
#Nigeria | #oil minister Kachikwu: will reach 2.2mbd by end-Jan after Forcados production resumes. Platts. thnx @calvinballin. #OOTT
74 year old Ahmet Türk, prominent pro-Kurdish Mayor of Mardin is arrested. Mr. Turk ıs famous by hıs peaceful rhetoric, politics. #BlackDay
#Turkey Lira rout deepens despite Trump tightening of Central Bank.
#Turkey CenBank fails to stabilize Lira with first interest rate hike since Jan2014. TRY falls back again following initial jump.
Turkish Army: 3 Turkish soldiers killed by Syrian airstrikes. Turkish media reports around Al Bab. 24 Nov2015: Turkey shot down Russian jet
#TURKEY CENTRAL BANK RAISES BENCHMARK RATE TO 8% (not expected)
Erdogan advisor suggests annexation of Turkish-occupied northern Cyprus http://dlvr.it/MkjxLK
Explosion hits Governer's office Turkey's Adana 2 dead 15 injr.
Constancio: Italian Yields Still Very Low Even After Rise Due To Concerns About Referendum
This chart shows why bank bail-in in #Italy would be pol suicide. Country stands out w/ high share of dom investors. https://www.ecb.europa.eu/pub/pdf/other/financialstabilityreview201611.en.pdf?f0feb4db4cc3aacc6f824b829c4f27d4 …
ECB's Constancio: Difficult to anticipate impact of #Italy referendum. If Italy vote leads to fin shock, to see if must respond (Chart Citi)
Citi on #Italy: After Brexit, EU might increasingly struggle to survive w/ a key chaotic partner & debtor w/ a banking industry under stress
German politician Martin Schulz plans to quit his post as EP chief , appears set to mount a challenge against Chancellor Angela Merkel.
*SCHAEUBLE TO CREATE REGISTRY TO COMBAT MONEY LAUNDERING: PAPER
German govt saved Germany from slipping into recession in Q3 BUT business confidence at highest level since 2014. http://bloom.bg/2fryU0C
German Ifo business climate drops to 110.4 in Nov vs 110.5 exp as Ifo expectations showed slight miss. BUT German Econ upturn remains intact
REGLING: I ASSUME GREECE TO KEEP REFORMING; NO FURTHER PROGRAM - MNI
Mouzalas blames Chios local authorities, ND over migration issue http://dlvr.it/Mkh5PL
Greek public sector workers strike against EU/IMF reforms http://dlvr.it/MkfJBY
France, LR (EPP) primary, second round, Opinion Way poll: Fillon: 56% (+22) Juppé: 44% (-22) #LaPrimaire #Fillon #Juppé #PrimaireDroite
Odds & Ends.....
THIS "Since their defeat on November 8 liberals have been looking for scapegoats to explain how Hillary Clinton lost to Donald Trump..."
Trump says he's working hard on Thanksgiving to try to get Carrier to stay in the US: http://hill.cm/XbE4PKr
Trump turning away intelligence briefings since victory: report http://hill.cm/LAzADWC
"Naked and proud: Media tripling down on blatant anti-Trump sentiment" http://hill.cm/hRc36PL
South Korea president impeachment vote in December – lawmakers - http://www.rappler.com/world/regions/asia-pacific/153508-south-korea-president-impeachment-vote-december-lawmakers … via @rapplerdotcom
Potential gold-import ban by India could be biggest bombshell since Nixon 'shocked the wor… http://ift.tt/2frnVrf
Manmohan Singh "I rise to highlight some of the problems that have risen after the decision to demonetise Rs 500 and 1000 currency notes."
Currency ban: Rs 21,000 crore deposited in Jan Dhan accounts, maximum from West Bengal http://toi.in/MayuaY
India's government decision to demonetise currency has particularly hit the poor who survive on cash from daily wage http://aje.io/gcmx
DJ EUROPEAN PARLIAMENT PRESIDENT MARTIN SCHULZ SAYS HE WILL STAND DOWN IN JANUARY
Mexican Cement Company Offers To Help Trump Build His "Big, Beautiful, Powerful" Border Wall http://www.zerohedge.com/news/2016-11-23/mexican-cement-company-offers-help-trump-build-his-big-beautiful-powerful-border-wal …
AFRICOM airstrikes against ISIS in Sirte reach 420 since 1st August - https://www.libyaherald.com/2016/11/24/africom-airstrikes-against-isis-in-sirte-reach-420-since-1st-august/ …
In #Tripoli today, discussed way forward in LPA implementation w/ LPD members, Bashaagha, Sawwan & Faqeeh
Economic diversification programme backed by EU and France to be launched Monday - https://www.libyaherald.com/2016/11/23/economic-diversification-programme-backed-by-eu-and-france-to-be-launched-monday/ …