Quick Overview

• The European Central Bank is ready to raise interest rates moderately, ECB President Jean-Claude Trichet said on Friday, sending a clear signal it will tighten rates in December for the first time in five years
  

• Argentina's jobless rate fell to 11.1 percent in the third quarter from 13.2 percent in the same period last year.
  

• The British government posted a 2.2 billion pound surplus in October, up from a shortfall of 1.7 billion pounds a year ago. Revenues were up almost 10% YoY, while spending was down 3%.
  

• Canada's wholesale sales totaled C$39.9 billion in September, down 0.1% on the month and up 5.6% YoY
  

• The Bank of Japan said the nation's economy is continuing to recover.
  

• There are rumors the Chinese government may decline to own up to the 200,000 ton copper short position that their absconded trader left it with.
  

• The USDA said there were 11.475 million head of cattle on feed on November 1st, up 1.2% YoY. Placements in October were up 3.5% YoY and marketing’s were down 3.3%.
  

• The United States and the European Union reached a tentative deal on Friday expand aviation service and boost competition on both sides of the Atlantic
  
  

• UPS Inc. said it will raise its commercial ground services rates by 3.9% and its air and international services rates by 5.5% in 2006.