FOMC will not be too disappointed with IP - ING

FXStreet (Guatemala) - Rob Carnell, analyst at ING Bank noted the mixed production report from the US for October, with overall production down 0.2%mom, but a better than expected manufacturing figure, which registered a 0.4%mom gain.

Key Quotes:

"All of the weakness was contained in the utilities and mining sectors - with mining no doubt reflecting ongoing softness of production in the oil and gas sector.

We doubt policy-makers will be too disappointed with these figures, though the overall strength of the US economy does mask important areas of weakness, such as the goods producing sector, and additional headaches for the Fed as it seeks to normalise policy rates."