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United States Industrial Production (MoM) below forecasts (0.3%) in November: Actual (0.2%)

USD/CAD losses have extended through the 1.34 level to take the Loonie to its best levels against the USD since August.

<p><img width="612" height="408" src="https://www.actionforex.com/wp-content/uploads/2020/11/f-japan20.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" srcset="https://www.actionforex.com/wp-conten

<p><img width="612" height="408" src="https://www.actionforex.com/wp-content/uploads/2021/06/f-inflation28.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://www.actionforex.com/wp-content/uploads/2021/06/f-inflati

<p><img width="1254" height="836" src="https://www.actionforex.com/wp-content/uploads/2023/09/f-rate81.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://www.actionforex.com/wp-content/uploads/2023/09/f-rate81.jpg

<p><img width="558" height="307" src="https://www.actionforex.com/wp-content/uploads/featured-images/f-usa4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" /></p> <p>US PMI Manufacturing

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<ul><li>The question is: Have we gotten monetary policy to a sufficiently restrictive stance, that's what we're thinking about</li><li>We're focused on whether interest rates are in the right place</li><li>We aren't really talking about rate cuts right now</li><li>The base case is

<p>An interview with NY Fed President Williams is touted at the bottom of the hour on CNBC. At times, the Fed interviews start late but we're tuned in and will have the headlines.</p><p>Some bears are hoping he walks back some of Powell's dovishness. The market is currently pricing in 147 bps in cuts next year.</p>

<ul><li>Prior was -0.6% (revised to -0.9%)</li><li>Manufacturing output +0.3% vs +0.4% expected </li><li>Prior manufacturing output -0.7% (revised to -0.8%)</li><li>Capacity utilization 78.8% vs 79.1% prior</li></ul> This article was written by Adam Button at www.forexlive.com.