New Grundfos President and CEO Mads Nipper is ready to construct a new era at the Danish company.

• New York Fed's Williams speaking Thursday - Kugler, Barkin also (Powell too!)
• Australian jobs report recap - "remains in relatively solid health"
• Bank of England Monetary Policy Committee member Mann is speaking again on Thursday
• People's Bank of China has more work to do to support the yuan
• European Central Bank President Lagarde and VP de Guindos speaking Thursday, Schnabel too
• Federal Reserve Chair Powell is speaking on Thursday
• GBP traders heads up - Bank of England Governor Bailey is speaking late Thursday
• China’s annual production of new energy vehicles surpassed 10 million units on Thursday
• PBOC sets USD/ CNY reference rate for today at 7.1966 (vs. estimate at 7.2326)
• ICYMI: Ex-Mr Yen Kanda said Japan will act appropriately against excess FX movements
• AUD/USD little changed after the October employment report showed a steady jobless rate
• Australian October unemployment rate 4.1% (vs. 4.1% expected)
• UBS maintain a US$2900 target for gold
• RBA Bullock says rates are restrictive enough, staying there until confident on inflation
• USD/JPY above 155 - Citi wary of intervention risk
• Investment bank bullish on Fed rate cuts; inflation concerns linger
• Oil - private survey of inventory shows headline crude oil draw vs build expected
• New Zealand data - FPI -0.9% in October (prior +0.5%)
• Forexlive Americas FX news wrap 13 Nov: US CPI comes out as expected. USD continues rise
• Trade ideas thread - Thursday, 14 November, insightful charts, technical analysis, ideas

The continuing US dollar uptrend … continued.

USD/JPY traded, above 156.00, to a high not seen since July. EUR/USD, meanwhile, dropped under 1.0550 to a low not seen in a year. AUD, NZD, GBP, CHF, CAD, yuan all moved lower. As did hapless gold. BTC/USD dropped back from above US$93.5K, but this thing is a beast, it gets a free pass ;-) .

On the data front the release of note was Australia’s job report for October. Job growth slowed down and the unemployment report steadied at 4.1%. It was a solid report without being spectacular. Slowing wage growth (data released yesterday) and a steady job market leaves the Reserve Bank of Australia to focus on bringing inflation down. RBA Governor Bullock spoke during the session. Bullock was not dovish, signalling that rates are restrictive enough but will not be coming down imminently.

The People’s Bank of China once again set the USD/CNY reference rate weaker (stronger for CNY) than estimates indicated.

The threat of finite natural resources can be managed by switching to heat pumps—a move that will pay for itself in resulting energy-cost reductions.

Industrial heat pumps provide chilling and freezing, and reclaim the heat energy lost in chilling to save money on heating water for cooking and cleaning—but is retrofitting possible?

Grundfos announced the launch of the next generation of small circulators for the residential heating market with the introduction of the Grundfos Digital NEXT range — starting with the UPSe 15-58 in late 2022, followed by the release of the new, digital ALPHA 15-58 in early 2023.

Wilo USA offers a range of solar borehole pumps, including a new 4” solar submersible pump.

What does a looming housing shortage, a significant increase in energy prices and 52% of home buyers ready to heat and cool their homes with electricity have in common? They’re all remedied in the same way: All-geothermal residential developments.

A North Vancouver school chose WaterFurnace for its reliability and energy efficiency. The manufacturer's rep mentioned that the equipment aligned with decarbonization efforts. Finances were a concern, as is usual with building projects.

With the world's focus on sustainability growing, plumbing engineers play a crucial role in adopting eco-friendly solutions. A major trend in commercial pump technology is the drive for efficiency and energy conservation. Find out how manufacturers are addressing environmental concerns and high energy costs.

When property owners need restroom or kitchen facilities in areas without existing plumbing, they often face the challenge of expensive and disruptive work to create below-floor drainage that usually requires breaking through concrete, which is messy, noisy, and costly. This high cost may lead clients to reconsider their projects altogether. For trade professionals, navigating concrete obstacles is just another day at the office. Yet, for others, it might be less welcome.

According to the United Nations, 2019 was the second warmest year on record at the end of the warmest decade (2010-2019) ever recorded.

Franklin Electric’s Little Giant brand has expanded its sump pump lineup to better equip professional plumbers and installers.

Armstrong introduces Design Envelope Permanent Magnet pumps (up to 60hp), delivering 20% lower operating costs and highly accurate flow metering (+/- 5%).

Taco Comfort Solutions/Hydroflo VT Series vertical turbine submersible pumps provide excellent reliability and ease of installation.

Government planners, taking their queues from politicians and advocacy organizations, have steered the future of energy supply away from fossil fuels and toward renewably-sourced electricity. It’s happening on every level from the feds right down to local city councils.

Last month, we began discussing the HVAC system installed at my church’s newly-constructed parsonage. In this month’s column, we’ll complete the picture.

Find out about piping options for retrofitting an air-to-water heat pump into an existing hydronic system.

Air-to-water heat pumps and water-to-water geothermal heat pumps provide warm water for space heating, domestic water heating, and chilled water for cooling. Switching a hydronic heat pump system from space heating to cooling and vice versa seasonally is relatively simple. The system operating mode is changed at the thermostat or a dedicated system mode switch with heat, off, and cool settings.

I spotted a story in the newspaper last year that made me smile with a memory that was bittersweet. 

NYC is aiming to address the green energy gap through its new “Clean Heat for All Challenge,” using custom window heat pumps specially designed for the project by electric heat pump manufacturer Midea America Corp.

Thomas Yoon, president and CEO, LG North America CEO, addresses barriers to market growth at a recent White House executive roundtable. 

Mitsubishi Electric Cooling & Heating’s new H2i R2-Series heat pumps provide year-round comfort, even in extreme climates. 

With easy access to the impeller and case to remove debris, this product has an oversized, tapered bore and a self-flushing seal chamber.

The survey explored homeowners’ attitudes toward the Inflation Reduction Act and home upgrades, specifically heat pumps, that increase sustainability.

To provide optimal comfort, contractors must not only reduce the temperature of the air, they must remove some of the humidity from the air as well.

The Markham District Energy facility differs from standard applications because instead of relying on conventional energy sources, it captures waste heat from sewage, which enters at about 5°C and is converted into 95°C usable heat.

Chillventa 2024, held Oct. 13-15 in Nuremberg, Germany, showcased some of the world’s most innovative technologies to more than 33,000 attendees from 49 countries. Through more than 250 presentations, visitors were privy to the latest developments driving innovation throughout the HVAC industry.

Read this white paper to learn more about why variable-speed compressors are the best solution for heat pump applications.

The IRA is driving heat pump sales in New York, and there are a few things lessons contractors in other states can learn from the success.

In the realm of residential cooling, two trends popped out at the 2023 AHR Expo: the new federal tax credits and heat pumps.

Across the country, state and local governments are mandating lower building emissions, pushing building owners to full electrification. Building codes and natural gas bans, however, only target new construction.

Geothermal energy can be used to heat and cool commercial buildings. The highly efficient systems that make this possible are geothermal heat pumps.

Heat pumps for both space and water heating will be required in most new homes in the state of Washington beginning next July.

As the U.S. moves toward electrification, heat pumps are becoming more popular, which will likely increase sales in the coming years. The key is to know which type of heat pump will work best for an application, as there is a wide range of equipment from which to choose.

Catch up on the latest headlines in our NEWSRoom video series.

When it comes to moisture control, sizing the heat pump correctly is the most effective step an HVAC contractor can take.

As the federal government plans millions in grant funding to boost heat-pump manufacturing in the U.S., a big player in the market as well as a newcomer are thrilled with the opportunity.

This series of zone controls manages circulators and boilers in residential hydronic heating systems. The non-networked devices control up to six heating zones and can be coupled together in various configurations to accommodate any application. 

Scandinavian green energy startup Aira plans to offer a 10-year service guarantee and a monthly fee that includes installation, maintenance.

Only 4% of homeowners know modern heat pumps can heat down to -4°F. That’s a huge opportunity for HVAC contractors to step in and be the experts.

His jacket was emblazoned with the logo of a manufacturer of high-performing heat pumps, but when I mentioned that we were thinking of getting one, the tech shot down the idea.

This e-book includes a summary of sustainable HVAC developments, in particular of heat pumps and refrigerant changes to address climate change.

As people around the world prepare to celebrate Earth Day, it’s a good time to incorporate renewable energy solutions, like Thermal Energy Networks (TENs), into the ongoing conversation.

Hybrid systems offer a pathway that balances environmental concerns with practical considerations, ensuring a more sustainable and feasible transition towards cleaner energy sources.

Experts discuss some of the issues that arise when selling and installing heat pumps in climates where the primary need is for cooling and not heating.

Contractors must be careful when sizing heat pumps for colder climates in order to avoid mold problems and homeowner discomfort.

As more homeowners are ditching oil heaters and moving to heat pumps, the rest of the country can learn from the cold-climate success story.

Variable-speed heat pumps, which dominate the heat pump market in many countries, are getting more attention in the U.S. The NEWS asked several manufacturers about the benefits of the technology.