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