Thursday, November 3, 2016

Economic News , Data & Views........ Thursday November 3 , 2016 ....... Quick Hits 1) Markets & Market Moving News : Economic Data For Asia - Friday Morning ; US Stocks Losing Streak Continues For 8th Day ; Europe Indexes Off Once Again ; October Non Farm Payroll Report Preview. 2) Us President Contest Updates : National Polling ; News De Jour. 3) Around The horn For Europe - Greece , Italy Germany , Uk News & Data. 4) Odds & Ends


Markets.......







Japan Nikkei PMI for October: Services 50.5 (prior 48.2), Composite 51.3 (48.9)







Australia - Retail sales for September, +0.6% m/m (expected +0.4%)






Economic data due from Asia today - also BoE and BoC speakers









US major indices down for the 8th consecutive day








DOW JONES UNOFFICIALLY CLOSES DOWN 26.98 POINTS, OR 0.15 PERCENT, AT 17,932.66










S&P 500 UNOFFICIALLY CLOSES DOWN 9.23 POINTS, OR 0.44 PERCENT, AT 2,088.71










NASDAQ UNOFFICIALLY CLOSES DOWN 47.43 POINTS, OR 0.93 PERCENT, AT 5,058.13










Europes major indices end the day flat to lower







UK'S FTSE DOWN 0.7 PCT; FRANCE'S CAC FLAT








GERMANY'S DAX DOWN 0.4 PCT; SPAIN'S IBEX DOWN 0.3 PCT








Dollar weakness seen versus yen & pound. Uncertainty with US Election taking a toll.











October NFP report - what Goldman Sachs is expecting






A look at the trends in the US employment





US President Race Update.....






.: "A well-placed source inside confirmed there are 2 parallel FBI probes: email case & case"
















AP journalist tells Clinton campaign it is preparing to report FBI has thumb drive but can be "steered away"








FBI Agents View Hillary As The "Antichrist Personified"










THIS - "There is an avalanche of new information coming in every day."








Can't imagine she would ask him to stay on , not after what's been made public.











IBD/TIPP Daily Tracker -dead heat.









National Rasmussen Daily Poll -Trump + 3 in one day.









National LA Times /US Poll -Clinton picks up a point , down by 5 points overall.









Clinton still lead by 3 , Trump has picked up 6 points since mid-October.







Around The Horn - News From Europe.....





FITCH PLACES DEUTSCHE BANK ON RATING WATCH NEGATIVE





FITCH: DEUTSCHE BANK WATCH REFLECTS CHALLENGES POSED BY SLUGGISH BUSINESS ENVIRONMENT






Greek Lawmakers Head Towards New Deadlock in TV Watchdog (NCRTV) Debacle






Greece Continues to Have the Highest Unemployment Rate in the Eurozone






Greece’s Creditors Set to Return to Athens in Mid-November








Greek Central Bank Gov Stournaras: Greek GDP To Shrink By 0.3% In 2016, Grow By 2.5% In 2017 & By 3% In 2018 -- RTRS






Stournaras: Projections Assume Greece Sticks To Bailout Implementation, Loans Are Timely Disbursed, ECB's MonPol Remains Accommodative





Stournaras: Risks Remain, Delays In Implementing Bailout Reforms, Privatisations Could Dampen Growth





Stournaras: Urgent Action Needed By European Partners On Specifying Greek Debt Relief Measures







Turkey Threatens Deal With EU in Curbing Migrant Flow









Unemployment ticks up for Italy in September...









Italy, Constitutional Referendum, TECNÈ poll: Yes: 47% (nc) No: 53% (nc)






Italy, Constitutional Referendum, EMG poll: Yes: 48% (nc) No: 52% (nc)







Germany, INSA poll: CDU/CSU-EPP: 31% SPD-S&D: 23% AfD-ENF: 13% ↓ LINKE-LEFT: 12% GRÜNE-G/EFA: 11% ↓ FDP-ALDE 7% ↑









UK BREXIT RULING : Judge rules that UK parliament must approve Article 50











Key paragraph from High Court ruling on










UK Supreme Court set aside 5th – 8th December for hearing on appeal against Article 50










UK PM May Spokeswoman : Article 50 will be settled in UK, not an issue of EU law; key is that we are appealing











Bank of England drops rate-cut signal as , growth outlook rise. Probability of another cut plunges to 8%.








(1) | OCT SERVICES PMI: 54.5 V 52.5E (3rd month of expansion and highest since Jan. 2016)








(1) | OCT SERVICES PMI: 54.5 V 52.5E (3rd month of expansion and highest since Jan. 2016)








Cold snap demand increase drives French power prices to a record 255€ a megawatt-hour. (via BBG)







Odds & Ends....








OPEC is pumping at record levels, while Russian oil output is at a post-Soviet-era high












U.N. says 239 migrants die in 2 shipwrecks off Libya. (It means 4,220 lives lost in central Med so far this year)










Turkey's Foreign Minister says Turkey isn't waiting forever-says Turkey won't wait until end of 2016 for EU to act.












EU-Turkey deal basically in limbo...









Pound crashes as Egypt free floats its currency and raises lending rates to spur the economy.








Faiez Serraj in interview with Libya Herald: The HoR has been hijacked by Agila Saleh and his two deputies and a minority









Reports of Qatari &Italian military/intelligence officials helping Jufrah based forces prepare for offensive to capture oil terminals







LNA officials already spoke of Italian activities in Jufrah, Italy's MoD denied any intentions to get involved in militarily.







GNA's MoD Bargathi's visit to Jufrah is already set off alarms in Marj. Visit was to oversee establishment of joint Ops room.








Libya Central Bank to release Euro 7b reserves to Tripoli govt. State oil company (NOC) wants US$2.5b production support.








Baghdadi audiotape released - follow thread for details..