Business Inventories: Rate Increase and Market Committee

business inventories: The buck has enjoyed a seven-session rally, touching its highest level since last November on Monday, on the hope that President-elect Donald Trump will follow through with proposals to boost fiscal spending, seen bullish for greenback, according to Market Watch. Retail sales rose 0.8% in October, marking the best two-month stretch since early 2014, while a measure of New York-area manufacturing conditions, known as the Empire state index, turned positive in November for the first time in four months, and business inventories rose 0.1% in September. At the same time, the pound slumped sharply after U.K. inflation grew at a slower-than-anticipated pace. At this point, the market is pricing in a 91% chance of a rate increase in December at the Federal Open Market Committee next policy meeting Dec. 13-14, according to CME Group data. The hope for more government spending from a Trump administration has been pushing up U.S. bond yields TMUBMUSD10Y, -1.51% making the buck more attractive to investors seeking higher returns. Higher rates make the dollar more attractive to traders, lifting returns on dollar-based deposits. (news.financializer.com). As reported in the news.