Category: Macro
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US Producer Prices Slide 0.5% In October, Biggest Drop Since 2020.
Wholesale prices experienced a significant decline last month as inflationary pressures continued to ease despite a year and a half of higher interest rates. According to a report by the Labor Department on Wednesday, the producer price index, which gauges inflation before it affects consumers, saw a 0.5% drop in October compared to September, marking…
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CPI Unchanged in October
Consumer prices in the US were unchanged in October, after rising 0.4 percent in September and compared with market expectations of a 0.1 percent increase. The index for shelter continued to rise in October, offsetting a decline in the gasoline index and resulting in the seasonally adjusted index being unchanged over the month. The energy…
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Without Commenting on Monetary Policy, Powell asks Fed Economists To Be Flexible in Forecasting Methods
Fed Chairman Jerome Powell said the central bank must be willing to think beyond the complex mathematical simulations used for economic forecasts. “Intellectual rigor must be combined with flexibility and agility,” he said at a conference marking the 100th anniversary of the Division of Research and Statistics. “Our economy is flexible and dynamic and sometimes…
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September Trade Deficit Widens as Imports Outpace Exports
The US international trade deficit widened to $61.54 billion in September from a $58.66 billion gap in August, a wider deficit than the $59.8 billion gap expected in a survey compiled by Bloomberg as of 7:40 am ET. Both exports and imports increased, with the imports increasing faster. Imports of industrial supplies, capital goods, auto…
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Upcoming Week’s Global Economic and Financial Highlights – Nov 5th
In the upcoming week, the United States will see a flurry of activities, including speeches by several Federal Reserve officials, the release of the Michigan Consumer Sentiment index, and foreign trade data. Moreover, the earnings season will continue with reports from prominent companies such as Berkshire Hathaway, Gilead Sciences, Uber, and Walt Disney. Across the…
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Fed Keeps Interest Rates Unchanged, Citing High Inflation And Firm Wage Gains; Treasury hits 2-week low
The Federal Reserve’s Federal Open Market Committee (FOMC) kept the United States’ benchmark interest rate unchanged in the range between 5.25% and 5.50% this Wednesday, in line with market consensus. Today’s FOMC decision was “unanimous.” In the statement released with the decision, the FOMC reported that recent indicators suggest that American activity has been expanding…
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U.S. Private Sector Employment Increases Less Than Expected In October
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of October. ADP said private sector employment climbed by 113,000 jobs in October after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs. “In all,…
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Evidence May Justify a More Stringent monetary Policy, says Powell
Federal Reserve (Fed) Chairman Jerome Powell said on Thursday that evidence of additional strength in the US economy could put the progress of inflation at risk and that the US central bank could tighten its monetary policy further if it remains resilient. . Powell stated, in a speech during an event at the Economic Club…
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Oil Trading Lower as Fears Over an Escalating Middle East Conflict Ease
Oil prices weakened on Thursday morning as concerns about an escalating war in the Middle East eased, although tight supply and low inventories offered support. West Texas Intermediate (CCOM:OILCRUDE) crude for November delivery last fell 17 cents to $87.61 per barrel, while December Brent (CCOM:OILBRENT) crude, the global benchmark , fell $0.80 to $90.70. Prices…
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US Jobless Claims Stand At 198,000, Well Below Consensus
For the week ending October 14, the anticipated value for seasonally adjusted initial claims was 198,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised upward by 2,000, from 209,000 to 211,000. The 4-week moving average was 205,750, a decrease of 1,000 from the previous week’s revised average.…