Fed Chair Powell said, «we see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook.» U.S. Oct CPI ex food & energy rose +2.3% y/y, weaker than expectations of +2.4% y/y. Eurozone Sep industrial production unexpectedly rose +0.1% m/m, […]

Financials, Metals and Energy The U.S. Q2 GDP report of +2.1% (q/q annualized) was mildly stronger than market expectations of +1.8%.  The strength in the GDP report came mainly from consumer spending, which showed a sharp rise of +4.3% and contributed a hefty 2.85 percentage points to the GDP growth rate. White House economic advisor […]

FINANCIALS, METALS AND ENERGY China approved the purchase by 5 Chinese companies of up to 3 MMT of U.S. soybeans, according to Bloomberg. The preliminary-July Markit U.S. manufacturing PMI fell by -0.6 points to 50.0, weaker than expectations of +0.4 to 51.0, although the services PMI rose by +0.7 to 52.2, stronger than expectations of […]