Thursday, November 08, 2007

Quick Overview

  • The Fed’s Bernanke told Congress the central bank is doing all it can to ease the impact of increasing foreclosures. He sees a "delicate balance" between risks to growth and the risks of inflation.

  • Australia's unemployment rate rose from 4.2% to 4.3% in October

  • Canada's housing starts were down 22% from September's pace.
  • The Bank of England kept the interest rate unchanged at 5.75%.
  • The European Central Bank kept its interest rate unchanged at 4.00%.

  • Machinery orders in Japan fell 7.6% in September, weaker than expected.

  • The People's Bank of China estimats GDP will increase 11% this year with 4.5% inflation.

  • Brazil's National Commodities Supply Corp. predicted a 59.4 million ton soybean crop in 2007-2008, the USDA estimated 62.0 million ton.

  • Louis Dreyfus is predicting that Brazil's next coffee crop will total 50 million (60-kg) bags.

  • The U.S. Department of Energy said that underground supplies of natural gas rose 36 billion cubic feet to 3.545 trillion cubic feet. Supplies are now up 3% YoY.

  • Statistics South Africa said YoY gold production was down 6.5% in September.

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