The news is coming fast and hard with volatility at the highest levels in years.
Earlier today there was some good news on the US economy with the best post-crisis reports on initial jobless claims and industrial production.
- US initial jobless claims 264k vs 290k exp
- September 2014 US industrial production 1.0% vs 0.4% exp m/m
- US Oct NAHB housing market index 54 vs 59 exp
- October 2014 US Philly Fed business index 20.7 vs 20.0 exp
The big headline so far is Bullard, here’s the chart that has the Fed spooked about inflation
Data in Canada wasn’t so hot:
- August 2014 Canadian manufacturing sales -3.3% vs -1.6% exp m/m (worst in a few years)
Other headlines:
- Spain failed at a bond sale
- Reuters pollsters full of cheer over European economy
- ECB looks to lower the haircut on Greek government bonds
- US industrial capacity utilization hits post-crisis high
- Plosser says volatile market not significant enough to throw off US economy
- Great earnings from Goldman
Here are the ranges and levels in the FX market today:
