- The Federal Reserve reduced the federal funds rate from 4.75% to 4.50%, as expected. The discount rate was reduced from 5.25% to 5.00%
- U.S. GDP rose 3.9% YoY, the best quarterly performance in over a year.
- U.S. employment cost index rose 0.8% QoQ and up 3.3% YoY.
- U.S. Personal consumption rose 1.9%
- U.S. construction spending rose 0.3% QoQ. YOY construction spending is down 3.2%
- The Chicago purchasing managers' index fell from 54.2% to 49.7%, weaker than expected
- Canada's GDP rose 0.2% MoM, and 2.4 YoY.
- Japan estimates GDP growth at 1.8% down from 2.1%.
Japan kept rates unchanged at 0.50%.
Japan's housing starts fell 44% YoY
- Unemployment rate in the Euro area dropped from 7.4% to 7.3%.
- The U.S. Department of Energy said:
Supplies of crude oil fell 3.9 million barrels to 312.7 million barrels. - Supplies of gasoline rose 1.3 million barrels
Supplies of heating oil supplies rose 500,000 barrels.
Refinery use fell from 87.1% to 86.2%
U.S. gasoline demand rose 0.3% YoY
Distillate demand fell 0.7%.
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