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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Editors’ Picks
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'