Categories: Markets

The Fed minutes and the vice-presidents debate on investor radars

The Fed could take advantage of the “minutes” of its September meeting to clarify its position in terms of asset purchases. The other highlight will be the vice-presidents’ debate between Mike Pence and Kamala Harris, Joe Biden’s running mate.

In the absence of publications from leading companies, the attention of the markets will be focused on the few statistics of the day, but especially on policy, monetary, with the “minutes” of the Fed’s council of September 15 and 16 , and national, with the debate of the vice-presidents within the framework of the American presidential campaign. However, these two events will only take place after the close of the European stock exchanges.

On the macroeconomic level, the Federal Statistical Office will unveil Germany’s industrial production figures before the market opens in August. After a fall of 25% in March and April, then a rebound of 19% over the following three months, it is still 11% below its pre-pandemic level, underline the economists of Oddo BHF. The consensus established by Bloomberg expects an increase of 1.5% (after + 1.2% in July).

INSEE will publish the figures for France’s trade balance 45 minutes later in August, which should have remained in deficit after a negative balance of nearly 7 billion euros in July.

The Fed as an aperitif, Pence-Harris as a main course

In the United States , the Department of Energy will present at 4.30 p.m. the evolution of weekly oil stocks , expected to drop 9.31 million barrels over the week to October 2, after a contraction of 1.98 million seven days earlier.

The Fed will publish the minutes of the September 15-16 Monetary Policy Committee meeting at 8 p.m. If the Federal Reserve has been clear on its intention to extend its low interest rate policy for several years, ”  its remarks about asset purchases were deemed more ambiguous,  ” Oddo BHF analysts wrote at the start of the week. . These “minutes” could also shed light on the debate surrounding the conditions for a rate hike.

Finally, Mike Pence , vice-president of Donald Trump , and Kamala Harris, running mate of Democrat Joe Biden , will be opposed in the evening as part of the debate of the vice-presidents from the University of Utah in Salt Lake City. While this type of confrontation does not usually attract crowds, the chaotic nature of the debate between Donald Trump and Joe Biden gives it a significance not previously known. Additionally, Mike Pence has a reputation of being a good advocate for Donald Trump’s politics, while Kamala Harris is considered a good speaker. The debate will be divided into nine parts of 10 minutes each.

Despite the opposition of Donald Trump’s campaign team, that of Kamala Harris has obtained a plexiglass screen separating the two speakers, who will stand about 4 meters apart from each other. The debate moderator will be Susan Page of USA Today, the Presidential Debates Committee announced.