Main exchange rates steady

The main exchange rates are trading steady this morning, with the dollar continuing to hover around the $1.10 level against the euro and the pound a little below 86p to the single currency and a little above $1.28  against the dollar (all of these rates are also broadly in line with where they closed out last week). Something to watch out for perhaps is the narrowing of the Tory lead over Labour at least according to one opinion poll (down to 7 points), which if it were to continue ahead of voting day on December 12th might have some impact on sterling

Consumer confidence in the US fell for a fourth consecutive month in November, and while it remains well above its long-run average, the recent slippage is consistent with some moderation in the rate of growth in consumer spending, which has been the key support for the economy over the past while

ECB member Vasiliauksas says he doesn’t think “we’ll exit the negative interest rate environment in the short term. In the medium term, things may change…but I don’t see such a prospect in 2020”

Ahead of the Thanksgiving holiday tomorrow, there are a number of economic data releases in the US today including jobless claims, consumer spending, inflation and a 2nd estimate of GDP growth in the third quarter of the year