Week Ahead for FX, Bonds: U.S., European PMI Data in Focus
Purchasing managers’ indexes for the U.S. and Europe will offer insights into business sentiment and a further clue on future
Economics
Canada Housing Starts Rise in September, Though Market Faces Longer-Term Supply Gap
Canadian housing starts picked up last month though the pace remains soft as the broader market shows signs of cooling
Financial leaders gathering in Asia this week had an urgent message for the world: The global economy is betting the house on artificial intelligence.
The economic possibilities—and potential perils—of the new technology dominated discussions at the IMF gathering in Bangkok this week. Source link
Eurozone Swung to Trade Deficit in August
Trade in the eurozone swung to a deficit in August as higher energy imports and weaker machinery and vehicle trade
Fed Chairman Kevin Warsh declined to endorse or push back on colleagues’ signals that officials are in no rush to raise interest rates this month, saying the central bank was no longer in the business of previewing its decisions
“We’re not in that business anymore,” Fed chief says after firm inflation data raised questions about timing of next increase.
Energy prices are up all over the U.S., but the surge is hitting some regions harder than others. And that impact could affect next month’s midterm elections.
Some midterm battleground states are being hit particularly hard. Source link
Canada Factory Sales Recover in August With Increased Prices
Shipments increased 1.5% from the month before, marking a sixth rise in factory trade in the last seven months after
Economic damage from high energy prices and rising borrowing costs is mounting globally, splitting the world into a new set of winners and losers as countries with limited exposure to the AI boom fall behind
The fallout from higher energy and borrowing costs is deepening across the world, hitting harder for countries with limited exposure
Wholesale Inflation Hit 4-Year High in September
The producer-price index rose by 1.3% last month, versus a 0.4% increase in August. It’s the index’s largest advance since
Eurozone Industrial Resilience Falters as Energy Shock Bites
The fall in activity compounds a tough few months for the industrial sector in the region. Source link