USA The Consumer Price Index and Federal Open Market Committee meeting took center stage. Headline CPI surprised to the downside, rising just 0.1% in November. On a YoY basis, consumer price growth softened to 7.1%, down from 7.7% in October. Energy weighed on the overall index as gasoline prices slid 2.0% and energy services [...]
USA The November release of the ISM services index kicked off the week with a surprisingly strong reading on the U.S. economy. The index rose 2.1 points to 56.5 despite consensus expectations for a roughly one-point decline. The outturn was higher than any of the 60 forecast estimates submitted to Bloomberg. The better-than-expected gain [...]
USA Fed Chair Jerome Powell spoke touching on many of the same hawkish themes that dominated the press conference after the November meeting of the Federal Open Market Committee, such as keeping rates at a high level for a considerable period. However, Powell acknowledged that the pace of rate hikes is likely to slow as soon [...]
