Quick Overview

• U.S. Consumer prices were unchanged in November and up 2.0% YoY, less than expected. Excluding food and energy costs, prices were up 2.6% YoY.
  

• Foreign purchases of U.S. securities totaled $102.0 billion in October while U.S. purchases of foreign long-term securities totaled $19.7 billion.
  

• U.S. Industrial production rose 0.2% in November, up from October's 0.5% drop.
  

• YoY Consumer prices in the EU-12 were up 1.9% in November
  

• The White House has approved a $468.9 billion Pentagon budget for 08, a six-percent increase YoY.
  
  

• Japan's tankan survey, increased from +24 to +25 in September, the highest in two years
  

• Brazil's government estimates the 2007-2008 coffee crop at 31.7 million bags, less than expected. They said the 2006-2007 coffee crop totaled 42.5 million bags, 4 million bags less than the USDA's estimate.
  

• Brazil's Association for Citrus Exporters said Brazil's exports of frozen orange juice in the first eleven months of 2006 were down 9% YoY.
  

• Gold futures dropped about $12 an ounce, silver lost 7% and copper prices dropped to a six-month low.