The County of Bruce has selected Ecosystem as the winning bidder to provide integrated energy performance contracting (IEPC) services in four of the county’s buildings. The $3.4 million project is expected to generate annual energy savings of $273,288 and receive $251,800 in incentives.

Enercare Inc. has announced the launch of the Enercare Fresh Start Program, a new corporate social responsibility program designed to help families transitioning between temporary shelters and a home of their own.

GDI Integrated Facility Services Inc. has announced the appointment of Stéphane Lavigne, CPA, as senior vice president and chief financial officer. Lavigne was most recently with IPL Inc., where he was executive vice president and CFO, and president and CEO following the sale of the company.

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Constrafor is stepping up to support local contractors across Florida, North Carolina, and Georgia with a comprehensive Disaster Relief Effort. This initiative, in conjunction with their Early Pay Program (EPP), aims to provide immediate financial support to contractors, enabling them to overcome delays, secure materials, and ensure timely payment for their teams.

Paul Davis Restoration pledges $1 million to the American Red Cross Annual Disaster Giving Program in response to Hurricanes Helene and Milton. This proactive donation ensures the Red Cross is equipped to meet the needs of those affected by disasters across the U.S. Discover how this significant contribution, along with volunteer efforts, supports disaster relief and community resilience. 

Wahl Instruments Inc. adds the HSI3000B to its line of Wahl Heat Spy Thermal Imaging Cameras.  This new thermal imaging camera for buildings “is the best equipped entry level device on the market – with the highest specification in its class."

KILZ MAX Interior Water-Based Primer features a unique water-based “epoxy” technology that offers all the performance of an oil-based primer, including the ability to block the most severe stains. 

FPSA foundation also supported food-insecure communities through the DEFEAT HUNGER initiative.

As the end of 2014 draws near, Canadean forecasts the top trends which will influence consumer behaviour in 2015, and provides an insight into how manufacturers and marketers can target these evolving consumer needs to drive sales over the next year.

Today's consumers are much more likely to focus on changing their snacking habits in order to achieve weight loss success.

The Food and Agriculture Organization of the United Nations (FAO) estimates that nearly one-third of the edible components of food produced for human consumption gets lost or wasted, amounting to about 1.3 billion tons per year globally.

The data is a day later than normal this week due to the US holiday on Monday.

The numbers via oilprice.com on Twitter:

--

Expectations I had seen centred on:

• Headline crude +0.1 mn barrels
• Distillates +0.2 mn bbls
• Gasoline +0.6 mn

---

This data point is from a privately-conducted survey by the American Petroleum Institute (API).

• It's a survey of oil storage facilities and companies
• The official report is due Wednesday morning US time.

The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)

• Its based on data from the Department of Energy and other government agencies
• Whereas information on total crude oil storage levels and variations from the previous week's levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.
• the EIA report is held to be more accurate and comprehensive than the survey from the API

The latest Labour Force report from the Australian Bureau of Statistics, for October 2024.

Employment +15.9k

• expected +25.0k, prior +64.1k

Unemployment Rate 4.1%

• expected 4.1%, prior 4.1%

Participation Rate 67.1%

• expected 67.2%, prior 67.2%

Full Time Employment +9.7k

• prior +51.6k

A slightly softer employment report than we are accustomed to. Not a bad one. But a miss for jobs added, and the participation rate saw a tic knocked off.

More:

• employment to population ratio remained at 64.4%
• underemployment rate decreased to 6.2%
• monthly hours worked increased to 1,972 million.

more to come

The October jobs report from Australia was not as strong as we have become accustomed to:

• Australian October unemployment rate 4.1% (vs. 4.1% expected)

It was not a poor report, just not another blockbuster!

AUD/USD is not a lot changed. Earlier we had Reserve Bank of Australia Governor Bullock sounding not dovish:

• RBA Bullock says rates are restrictive enough, staying there until confident on inflation

Chinese media, Global Times, citing a state media report (CCTV):

• China’s annual production of new energy vehicles surpassed 10 million units on Thursday, info via China Association of Automobile Manufacturers.
• the first country to reach this milestone globally
• output for the whole year is expected to reach 12 million

The US and EU have quickly built walls (tariffs and other imposts) to protect domestic vehicle producers. This is not usually a recipe for thriving industry.

That makes it a congressional red sweep and the question now is just how much of a majority will they command in the House? The latest NYT projections here show Republicans do have the needed 218 seats claimed for a majority. However, there are still 9 seats yet to be called.

There are some seats such as Iowa 1 and California 45, which are toss ups, that could go to a recount and take a longer time to settle due to the current margins. For some context, here is a list of the more competitive districts as a reference.

But even if you give those two to the Democrats, Republicans will at least snag Alaska 1 to end with 219 seats. That is the bare minimum that they should win with when all is said and done.

Fundamental Overview

The US CPI yesterday came in line with expectations leading to a bit of a “sell the fact” reaction in the US Dollar.

The bullish momentum picked up a bit later though as Fed’s Logan delivered a hawkish comment saying that “models show that Fed funds could be very close to neutral” basically implying a lot more cautious approach on rate cuts in 2025.

The market is viewing all of this in light of the recent US election as Trump’s policies are likely to spur growth and potentially keep inflation above target for longer, making the Fed’s job of bringing inflation back to target a bit harder.

AUDUSD Technical Analysis – Daily Timeframe

On the daily chart, we can see that AUDUSD broke through the recent low around the 0.6537 level and extended the drop into the 0.6460 level as the US Dollar restarted its run on stronger US data. The natural target should be around the 0.6362 level.

From a risk management perspective, the sellers will have a better risk to reward setup around the trendline. The buyers, on the other hand, will want to see the price breaking higher to start targeting a rally into the top of the yearly range around the 0.69 handle.

AUDUSD Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that we have another minor downward trendline defining the current bearish momentum. If we were to get a pullback, the sellers will likely lean on the trendline with a defined risk above it to position for a drop into new lows. The buyers, on the other hand, will want to see the price breaking higher to start targeting a bigger pullback into the major trendline.

AUDUSD Technical Analysis – 1 hour Timeframe

On the 1 hour chart, there’s not much more we can add although we can see that we have a minor resistance zone around the 0.65 handle. If the price gets there, we can expect the sellers to pile in for move lower, while the buyers will look for a break higher. The red lines define the average daily range for today.

Upcoming Catalysts

Today we have the US PPI and the US Jobless Claims figures. Tomorrow, we conclude the week with the US Retail Sales data.

• Prior +1.8%; revised to +1.5%

Looking at the details, the drop here is largely driven by a decline in capital goods (-3.8%) and energy production (-1.5%). The former is seen declining back after a surge higher in August (+3.8%). The declines for the month are partially offset by increases in output for durable consumer goods (+0.5%) and non-durable consumer goods (+1.6%). The production for intermediate goods was flat on the month.

• Fed will 'most likely' need more cuts but should 'proceed cautiously'
• If Fed cuts too far past neutral, inflation could re-acclerate
• Difficult to know how many Fed rate cuts may be needed, and how soon they need to happen
• Fed has made a great deal of progress in bringing inflation down
• Fed not quite back to price stability yet
• US economic activity is resilient
• Labor market cooling gradually but not weakening materially
• Sees upside risk to inflation, downside risk to employment, says financial conditions may pose biggest challenges for monetary policy
• If bond yields continue to rise, the Fed may need less-restrictive policy

Logan last spoke in late October and wasn't quite this hawkish. I think the Fed cuts in December but takes a pause after that and waits to see how things play out.

St. Louis Fed Pres. Musalem is scheduled to speak at the top of the hour. Musalem is a voting member in 2025. Back on October 7, Musalem spoke and said:

• More rate cuts likely given economic outlook.
• Won't predict timing or size of future Fed easings.
• Personal rate outlook is above Fed’s median view.
• Costs of easing too much outweigh easing too little.
• Supported Fed’s decision last month to cut rates by 50 basis points.
• Policy patience has served Fed well.
• Cooler job market still consistent with strong economy.
• Expects inflation pressures to continue to abate.
• Expects inflation to converge to 2% over next couple of quarters.
• Financial conditions remain supportive of growth.
• Some economic activity slowed by rate policy, election uncertainty.

That was over a month ago. So how he weighs in now will be interesting given the backup in yields and other economic and other developments since that time

• Risks to the jobs market have remain unchanged or have fallen
• Fed may be on the 'last mile' to price stability, inflation expected to converge to 2% over the medium term
• Monetary policy well posited, Fed can 'judiciously and patiently' judge income data to decide on further rate cuts
• Strong economy on track for a 'solid' fourth quarter
• Growth is broad-balanced and driven by consumption, income growth, productivity, supportive financial conditions and wealth effects
• Recent high productivity could prove durably structural but that remains uncertain
• Core inflation remain elevated
• Pressure in services industries slowly abating

This is the third Fed official who has floated some more-hawkish hints. It's hardly a signal of a pause in December but early 2025 is going to be interesting. There are meetings in January, March and May. Assuming a cut in Dec, there is one cut fully priced in for that period (and a smidge more).

That sounds about right based on the comments and data but that's going to swing based on the next set of numbers and beyond.

• Rate cuts to date are an acknowledgement of growing confidence that inflation is on the path to 2% goal
• Hope productivity growth can outrun the effects of slowing population growth
• Won't let enthusiasm over rising productivity get ahead of data or commitment to reaching Fed goals

There isn't much of a hint on anything here.

UBS remain upbeat on further Federal Reserve interest rate cuts to come. Analysts at the bank acknowledge heightened concerns about inflation in the market, and also trimmed market pricing for cuts ahead.

Ahead of Wednesday's CPI report (Forexlive Americas FX news wrap 13 Nov: US CPI comes out as expected. USD continues rise) UBS points:

• Economic data signals a stronger-than-expected economy. Concerns about inflation remain

• Market expectations lean towards a slower pace of Fed rate cuts

• Fed officials view the current rate as restrictive but are balancing employment and inflation goals. A major inflation surprise would be required to shift policy outlooks.

• The Fed is likely to continue rate cuts, with a potential 25 basis point cut in December and further easing expected in 2025.

And, the data result was not enough to dissuade analysts at UBS from expecting further cuts from the FOMC ahead, referring to the in line CPI print not changing the underlying fundamentals and economy narrative.

***

The latest from FedWatch shows a solid expectation for a 25bp cut on December 18:

People's Bank of China USD/CNY reference rate is due around 0115 GMT.

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

How the process works:

• Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.
• The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
• Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.

Yesterday the People's Bank of China propped up the yuan at this setting:

• PBoC promised stronger damping to support CNY, and that's what are seeing

I suspect we'll see similar support for the yuan again today.

Federal Reserve Chair Jerome Powell delivers a speech on his economic outlook, followed by a question and answer session.

• Powell participates in "Global Perspectives" conversation before event hosted by the Dallas Regional Chamber, World Affairs Council of DFW and the Federal Reserve Bank of Dallas
• @ 2000 GMT / 1500 US Eastern time

While the Fed seems committed to a December rate cut not all signs in the CPI data on Wednesday were encouraging.

Times below are GBT / US Eastern time:

1400 / 0900 Federal Reserve Bank of Richmond President Thomas Barkin speaks on the economy in fireside chat before the Real Estate Roundtable

1500 / 1000 Federal Reserve Board Governor Adriana Kugler speaks on "Central Bank Independence and Economic Outlook" before the Latin American and Caribbean Economic Association (LACEA) and the Latin American Chapter of the Econometric Society 2024 Meeting

2000 / 1500 Powell, as already noted

2115 / 1615 Federal Reserve Bank of New York President John Williams speaks before the "Intermediating Impact: Making Missing Markets" event hosted by the Federal Reserve Bank of New York

As head of the NY Fed Williams is vice chair of the Federal Open Market Committee (FOMC) and has a permanent vote at the table. .

Manufacturing

NEW YORK (Sept. 8, 2017) – Two CPA.com staffers have been named to CPA Practice Advisor’s Top 20 Under 40 Superstars list, which the trade publication said is composed of “young leaders helping advance the profession through their roles in technology, education, consulting and firm development.”

Representing CPA.com on the list are Samantha Mansfield, the company’s director of professional development and community, and Kalil Merhib, director of sales. Mansfield is a driving force behind the Digital CPA Conference and the curriculum and training it offers to firms, including the recently launched Client Accounting Advisory Services (CAAS) certificate and CPA.com’s popular CAAS workshops. Merhib’s key responsibilities include rollout of the RIVIO Clearinghouse, a private company financial information hub jointly developed by CPA.com and Confirmation.com, and working with firms across the country in building effective strategies for outsourced accounting practices.

“This year’s 40 Under 40 and 20 Under 40 honorees are visibly and incrementally changing the accounting profession through their exemplary leadership, their innovative thinking, their collaborative efforts guaranteed to provide unity to the profession across the generations, and their community outreach which extends the visibility of the profession outside the workplace” Gail Perry, CPA Practice Advisor’s editor-in-chief, wrote in an article announcing the winners.

“It’s a great honor for CPA.com to have two employees on this list,” said Erik Asgeirsson, president and CEO of CPA.com. “We’re grateful to see validation of our staff’s hard work in helping CPA firms embrace change and thrive.”

The full list of winners can be found on CPA Practice Advisor’s website.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/controller services by firms. The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a subsidiary of the American Institute of CPAs, the world’s largest member body representing the CPA profession. For more information, visit CPA.com.

For more details please see attached the Request for pre-qualification.

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TASHKENT, 20 May 2015 – A two-day workshop on cyber and ICT security issues began in Tashkent today. The event brought together some 40 participants, including 10 international experts from Austria, Estonia, France, Germany, Switzerland, UK, USA as well as representatives of the national parliament, judiciary, ministries for information technology, foreign affairs, academia and law enforcement agencies.

The event facilitated discussions among international and national experts on global, regional and bilateral efforts to enhance international Cyber Security. Best practice and lessons learned in investigations in the field of counter-narrative strategies to counter extremism online as well as countering the use of the Internet for terrorist purposes were also debated. Participants also discussed current threats in cybercrime, local legislations and strategies in use.

“Cybercrime is a new kind of threat that makes people vulnerable to cyber-criminals who can commit crimes against victims located thousands of kilometres away”, stated Deputy Head of Police Academy, Abror Otajonov, in his opening remarks. “This threat to our security can only be addressed by ensuring close international cooperation and adopting comprehensive national policies and developing relevant capacities”.

Ben Hiller, Cyber Security Officer of the OSCE Transnational Threats Department, said: ”With its comprehensive and inclusive approach the OSCE represents a bridge between different national and international approaches to tackling cyber/ICT threats and allows various stakeholders dealing with different cyber threats to move forward in a complementary manner.“

This event was organized in co-operation with the OSCE Transnational Threats Department, as part of the multi-year support provided by the OSCE Project Co-ordinator in Uzbekistan to the National Police Academy to improve the staff training system. 

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TASHKENT, 22 June 2015 – A two-day training course on improving judicial responses to human trafficking, organized by the OSCE Project Co-ordinator in Uzbekistan, in co-operation with the Lawyers’ Training Centre under the Uzbek Justice Ministry, was launched today in Tashkent.

Some 20 newly-appointed judges from all regions of Uzbekistan will discuss effective ways to use international and national legal tools in dealing with criminal cases on trafficking in human beings as well as relevant good judicial practices and challenges.

“The training course is designed to help the judges to assess the implementation of the non-punishment principle for victims while handling the criminal cases,” said Ambassador Gyorgy Szabo, Project Co-ordinator in Uzbekistan. “This kind of training course serves as a platform for the exchange of experience and professional expertise related to Human Rights Protection.”

Askar Gafurov, Director of the Lawyers’ Training Centre, said: “The training course is one of the commitments of Uzbekistan to improve the effectiveness of countering human trafficking and to develop a comprehensive victim-support system through expert advice and in service training activities.”

The training course is part of  the OSCE Project Co-ordinator’ s long-term project to assist Uzbekistan in combating trafficking in human beings.

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TASHKENT, 5 November 2015 – Addressing and preventing human trafficking in the hospitality and tourism sector is the topic of a two-day OSCE-supported training course, launched today in Tashkent, for 25 representatives from Uzbekistan’s tourism infrastructure, airlines, airport services and police.

The course, organized by the OSCE Project Co-ordinator in Uzbekistan and the National Inter-agency Commission on Counteracting Human Trafficking, aims to contribute to preventing human trafficking through awareness raising and developing the anti-trafficking codes of conduct for personnel.

The OSCE Project Co-ordinator in Uzbekistan Gyorgy Szabo said the training course would help representatives from private businesses develop corporate responsibility for preventing human trafficking in the tourism infrastructure.  

Astrid Winkler, representative of the ECPAT International (End Child Prostitution, Child Pornography and Trafficking of Children for Sexual Purposes), said that “It is important that all stakeholders, including the tourism business, understand what human trafficking is and take a stance against it. Business can do a lot in terms of prevention.”

The training course is part of the OSCE Project Co-ordinator’s project to assist Uzbekistan in combating the trafficking in human beings.

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• OSCE Project Co-ordinator lights up central Tashkent with 20 solar-powered street lamps

TASHKENT, 29 July 2016 - A central area of Tashkent is to be lit by 20 autonomous street light systems fully powered by solar energy as part of a pilot project officially launched today by the OSCE Project Co-ordinator in Uzbekistan.

The Co-ordinator is supporting the host country in the area of green economy policies, including the analysis of costs and benefits in using environmentally-friendly and sustainable systems in street lighting and urban planning.

Senior Project Officer at the OSCE Project Co-ordinator Hans-Ullrich Ihm said that urban street lighting powered by solar energy is one of many possibilities that contribute to preserving our environment by reducing the consumption of fossil fuel and emissions. He added that the Project Co-ordinator strives to support the government in implementing policies advocating for such technologies.

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Twenty-five lecturers from law faculties at fifteen universities from around Ukraine, during a roundtable discussion supported by the OSCE Project Co-ordinator on 13 July 2016 in Kyiv, developed recommendations on teaching human rights within Master of Law university programmes.

The discussions focused on teaching the European Convention on Human Rights and the case-law of the European Court of Human Rights (ECtHR), with international experts from the Max Planck Institute Luxembourg for International, European and Regulatory Procedural Law, the Union University and the ECtHR highlighting ways of ensuring a human rights-based approach to legal education.

Participants exchanged syllabi, research materials and teaching methodologies and agreed to set up a platform to further develop the human rights law curricula. This community of practice will function on a permanent basis with further support from the OSCE Project Co-ordinator and with the participation of leading Ukrainian law schools.

The roundtable discussion was held as part of the Second Annual Inter-University Human Rights School on 11-15 July 2016, which was organized by the OSCE Project Co-ordinator in Ukraine in co-operation with the Lviv and Kyiv Universities.

The School was held as part of the OSCE Project Co-ordinator’s project on safeguarding Human Rights through the courts. The project is being implemented with the financial support of the Government of Canada, and follows on from the First Annual Inter-University School dedicated to the Right to Life held in 2015.

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