Edmond de Rothschild – Macro Highlights – December 11th 2017 – US jobs, OPEC & Emerging countries and Commodities

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Economists' insight: The Fed steals Donald Trump’s thunder

Economist insights: US employment report should support the Fed in hiking its Fed Funds rate in December, OPEC extends its production ceiling (p.1)

›       Despite disappointing wage growth, the creation of 228,000 jobs in November should support the Fed’s position concerning its 25bp Fed Funds rate hike on 13 December

›       OPEC has decided to extend its agreement to cut oil production through to the end of 2018, which is expected to support prices

Emerging focus: Commodity prices still decisive for emerging countries (p.4)

›       Emerging market economies are being affected in different ways by changes in commodity prices. Growth in Russia and Latin American countries is strongly linked to this

›       The slightly rising global demand that we are forecasting should support oil prices over the first half of 2018, paving the way for growth to stabilise in Russia

›       The moderate slowdown that we expect for infrastructure and real estate investment in China is expected to weaken the outlook for ore-exporting countries such as Brazil

Macro Highlights - December 11th 2017 - US jobs, OPEC & Emerging countries and Commodities

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