Source: Markit Economics The American manufacturing sector growth slowed to a ten-month low in October, dragged by supply chain shortages. The seasonally adjusted IHS Markit US Manufacturing Purchasing Managers’ Index stood at 58.4 in October, down from 60.7 in September.The latest figure in the manufacturing sector was the weakest for 10 months.The overall upturn was … [Read more...] about US Manufacturing Sector Slows to 10-Month Low in October
Forex News
Yellen Wants the Dems to Solve Debt Limitations The Other Way
Source: Reuters US Treasury Secretary Janet Yellen wants the Democrats to address the country’s debt limit issue if the Republicans do not rally behind them to avert a possible default next month. SPY is down -0.096%, DXY is down -0.09%. Yellen says that the Democratic Congressional leaders could use reconciliation to drive the debt ceiling bill. She added that the … [Read more...] about Yellen Wants the Dems to Solve Debt Limitations The Other Way
OPEC+ Headed for a Clash With Biden As Key Members Reject Call For Output Increases
Source: Bloomberg. OPEC+ is on a path for a clash with the United States as more members rejected President Joe Biden’s push for the group to raise oil production faster and help to cut gasoline prices. CL1! up +1.03% On Monday, Kuwait stated that the cartel should hold on to its plan to expand output gradually as oil markets were well-balanced. That followed supporting … [Read more...] about OPEC+ Headed for a Clash With Biden As Key Members Reject Call For Output Increases
UK Output Growth Accelerates for First Time in Five Months
Source: IHS Markit Output growth in the United Kingdom posted a slight improvement in October to mark the first acceleration in five months, on improved orders and employment. EWU is up 0.18% premarket. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index stood at 57.8 in October, above the 50 threshold that separates expansion from contraction.The latest … [Read more...] about UK Output Growth Accelerates for First Time in Five Months
AUDUSD Forecast Ahead of RBA and Fed Decisions
The AUDUSD price was under pressure on Monday morning as investors refocused on the upcoming interest rate decisions by the Reserve Bank of Australia (RBA) and the Federal Reserve. The pair declined to 0.7500, which was slightly below last week’s high of 0.7550. RBA decision The RBA started its two-day monetary policy meeting on Monday morning and is scheduled to publish … [Read more...] about AUDUSD Forecast Ahead of RBA and Fed Decisions
