Thursday, President Obama intensified his call for Congress to pass a “fiscal cliff” plan before the holidays. House Speaker John Boehner stated he was confident that they would come to an agreement before automatic budget cuts and tax hikes get implemented. It appears stock markets reacted favourably to the news, with most Asian markets posting gains this morning. The loonie barely budged.
At home, Industrial Product Price Index (IPPI) figures are expected at 8:30 this morning. Markets are anticipating a -0.2% drop for October, compared to a 0.5% increase in prices the previous month. Current Account Index data for the third quarter of 2012 will also be released at same time. Markets are forecasting an increase in the current account deficit, from -$16B for Q2 to -$19.2B for Q3.
U.S. GDP figures for the third quarter of 2012 are also expected at 8:30 this morning. Markets are forecasting an increase of 2.8%, versus 2.0% for the previous quarter. Wishing you a great day!
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NBC Daily Forex
Published 11/30/2012, 06:55 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex
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