Feds Beige book highlights for October:
- Economy continued to expand
- Modest employment and wage growth
- Fed districts noted modest or moderate pace of expansion
- Home price appreciation continued at modest pace
- Uptick in retail spending in most districts
- Demand for consumer and business loans increased
- Commercial real estate activity and construction improved
- Credit quality remained strong or improved
- Election source of economic uncertainty
- Manufacturing a mixed with strong dollar slowing exports
- Wage growth was modest
- Prices rose slightly on net
The dollar is little changed (3-4 pips) on the headlines.
