Daily Report - Wednesday 28th November

THE DAILY REPORT
 


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RISK EVENTS (AEDT)


There are no risk events today



Major Bloomberg & Reuters News

Bloomberg

Theresa May Not Seeking Trump G-20 Meeting After He Slammed Brexit Deal

The president’s latest undiplomatic language saw him criticize the Brexit deal May struck at the weekend with the European Union, saying it may leave Britain unable to trade with the U.S. The verbal bombshell undermines her approach, because she’s held up striking a trade deal with the world’s biggest economy as one of the big prizes of leaving the EU.
Trump called the agreement “a great deal for the EU” and urged May to reopen talks with Brussels. The prime minister’s office pushed back in a statement, saying the deal allows for the U.K. to strike its own trade deals and it remains committed to getting one with the U.S.
 

BREXIT SCHEDULE

Nov. 28Treasury Brexit report, BOE Financial Stability Report, BOE Brexit report
Dec. 3FCA’s Andrew Bailey in Treasury Committee testimony hearing on Brexit
Dec. 4BOE’s Mark Carney in Treasury Committee testimony hearing on Brexit
-Parliament starts 5-day debate on Brexit deal
 
Dec. 5
Chancellor Philip Hammond in Treasury Committee testimony hearing on Brexit
 
Dec. 11
Parliament vote on Brexit deal
 
Mexico’s state oil company Pemex said it produced an average 1.76 million bpd of crude in October, down 7 percent from October last year, Reuters reports, citing data released by the company. This is also one of the lowest monthly production rates since 1990 when records began.

The decline was attributed to the natural depletion of mature fields, highlighting the urgent need for new production in the country. The outgoing government of Enrique Pena Nieto launched a sweeping reform in Mexico’s energy sector, one of its aims being to open up the local oil wealth to foreign operators in order to stem this decline in production. The incoming government is currently reviewing oil contracts signed by the previous administration to make sure no corruption was involved in the deals.

 

ECONOMIC ANNOUNCEMENTS  

 




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Posted: 11/28/2018 12:49:38 AM