Investing.com - Financial Markets Worldwide

Ahead Of Friday's U.S. Open

ByDanske Markets
Published 11/15/2013, 01:36 AM
Updated 05/14/2017, 06:45 AM
Friday's Market

Focus on the euro area with the release of preliminary Q3 GDP figures. We expect growth to remain positive but to be slightly lower compared to Q2. Growth is helped by the periphery countries, where sentiment has improved and the recession is becoming less severe. We expect the recovery to gain ground.

On the agenda for the Euro-group meeting today are the inflation development, the banking union and the economic situation based on the new European Economic Forecast. The Eurogroup will also discuss the Irish programme exit including the option of applying for a backstop (such as PCCL/ECCL). However, recent comments suggest that there is no firm deadline for when Ireland would have to apply and the absence of a German government also point in the direction that the decision will be pushed further out in time.

Janet Yellen testifies before the Senate Banking Committee regarding her nomination to become the Fed's Chairman. A prepared testimony for her confirmation hearing has already been published, suggesting that she will strike a dovish tone. She will likely be asked about the risk of continuing QE after she has supported QE in the past five years. It will also be interesting to hear her opinion about the unemployment threshold.

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