U.S. Review

Despite Falling Energy Prices, Inflation Hangs in There

  • Headline inflation continues to be held down by falling energy prices. Core prices, however, are inching up and look to be stable on a year-ago basis.
  • Industrial production disappointed in October as it slipped 0.1 percent. Weakness was concentrated in the utilities and mining industries. Manufacturing output, which accounts for about three-fourths of industrial activity, rose 0.2 percent.
  • The housing recovery continued to progress in October. Although starts fell slightly, permitting activity rose to a six- year high.

Global Review

Has Latin America Hit the Bottom of this Cycle?

  • The numbers coming out of Latin America are not great, and economic policy in the region could continue to prevent those economies from improving any time soon. However, there are some signs that the worst of this economic cycle affecting the region seems to be over, at least for now.
  • The Latin American region is not booming and we are expecting growth to be limited. Furthermore, Argentina and Venezuela are expected to remain in recession into next year. However, we believe that the rest of the region may start to experience stronger growth, although the extent of that pick- up may be limited.

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AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

EUR/USD comfortable below 1.0800 lower lows at sight

EUR/USD comfortable below 1.0800 lower lows at sight

The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.

EUR/USD News

Gold pulls away from daily highs, holds above $2,200

Gold pulls away from daily highs, holds above $2,200

Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.

Gold News

Google starts indexing Bitcoin addresses

Google starts indexing Bitcoin addresses

Bitcoin address data is live on Google search results after users realized on Thursday that the tech giant started indexing Bitcoin blockchain data. However, mixed reactions have followed the tech giant's reversed stance on the cryptocurrency.

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A Hollywood ending for fourth quarter GDP

A Hollywood ending for fourth quarter GDP

The latest revisions put Q4 GDP at 3.4%, the second fastest quarterly growth rate in two years. Much of the upside was attributable to stronger consumer spending, yet fresh profits data affirmed it was a good quarter for the bottom line as well with profits up by the most since the Q2-2022.

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