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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US CPI advanced more than expected in November
In the US, the consumer price index (CPI) recorded a rise of 0.30% on a MoM basis in November, compared to a rise of 0.40% in the prior month. Market expectation was for the CPI to advance 0.20%.
US mortgage applications advanced in the last week
In the US, mortgage applications climbed 3.80% on a weekly basis in the week ended 06 December 2019. In the prior week, mortgage applications had registered a drop of 9.20%.
US budget deficit expanded in November
The US has reported budget deficit of $208.80 billion in November, following a budget deficit of $134.50 billion in the prior month. Markets were anticipating the nation to register a budget deficit of $196.50 billion.
Fed keeps its key interest rates unchanged, signals no further rate cut next year
The US Fed, in its December monetary policy meeting, kept its benchmark interest rate unchanged in the range of 1.50% to 1.75%, as widely expected, and hinted that rates would continue to remain at its current range through 2020, amid strong economy and robust labour market. Further, the Fed Chairman, Jerome Powell, stated that the central bank will not move on interest rates unless it sees a significant and persistent move in inflation, which has been stubbornly below the Fed’s target.
Japanese machinery orders record an unexpectedly dropped in October
In Japan, machinery orders recorded an unexpected drop of 6.00% on a MoM basis in October. Machinery orders had dropped 2.90% in the previous month.
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