What you need to know before the open – 11/12
A subdued start to trading today, with the US remaining in focus. Equity markets and the dollar have both been retreating, as the possibility of a taper next week weighs on investors' minds.
On Monday, several US policymakers suggested that a trimming back of the government's $85bn-a-month bond purchases could be closer than has been expected.
Republican Paul Ryan made an announcement last night by that a new deal on a budget could be revealed over the next few days. This would ease some of the recent budget cuts, slightly increasing spending – something positive for markets, ahead of the February deadline for the (still unresolved) debt ceiling.
Good morning – just over half an hour to go until the open and the FTSE100 is expected to start -5 at 6518.
— David Jones (@DavidJones_IG) December 11, 2013
Key events:
- US MBA mortgage applications (6 December) at 12.00pm.
- US treasury secretary Lew's speech at 3.00pm.
- US monthly budget statement at 7.00pm. Expected at $-145bn from $-91.5bn.