Highlights from overnight - ANZ

Analysts at ANZ explained some of the events from overnight that took the headlines.

Key Quotes:

"US Boston Fed President Eric Rosengren said “it’s a little bit too early” for the next rate hike, given uncertainty on US fiscal policy. However, he did say it was “very appropriate” in the next year to look at reducing the Fed’s balance sheet; and as long as US is close to full employment, three rate hikes as implied by FOMC’s projections will be appropriate. Across the pond, UK home prices had a strong end to last year with prices up 1.7% m/m or 6.5% 3m y/y, however the outlook for 2017 remains uncertain given the opaque Brexit issue. European data was firm, with Eurozone unemployment steady at 9.8% in November, German industrial production increasing for the second consecutive month, and French business confidence on the rise."