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(Bloomberg) -- The US reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectDC Business Leaders Welcome Return-to-Office Policy Under TrumpGlobal oil consumption should exceed o

(Bloomberg) -- The Federal Reserve is seen likely to lower the rate on one of its tools to help control the main policy benchmark, though some on Wall Street are skeptical about the motivation behind the move. Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamSan Francisco, Paris Named Best Cities for Urban TransportationA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectDC Business

(Bloomberg) -- Gold rose for a third day as traders shifted their focus to key US inflation reports due this week that may shape expectations ahead of the Federal Reserve’s final interest-rate decision of the year. Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersCloud Computing Tax Threatens Chicago’s Silicon Valley DreamA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSan Francisco, Paris Named Best Cities for Urban TransportationDC Busi

Argentina's monthly inflation is likely to have remained under 3% in November, near its lowest level of the year but slightly up from the month before, underscoring the challenge for libertarian president Javier Milei to rein in prices. A Reuters poll of analysts published on Tuesday showed a median forecast rise of 2.8% in the month after 2.7% in October. Argentina has been battling to bring down what has been the highest inflation rate in the world, peaking at almost 300% a year.

WASHINGTON (Reuters) -U.S. unit labor costs grew far less than initially thought in the third quarter, pointing to a still favorable inflation outlook even though price increases have not moderated much in recent months. The report from the Labor Department on Tuesday also showed labor costs actually declined in the second quarter instead of rising as had been estimated last month. Moderate labor costs growth is likely to be welcomed by Federal Reserve officials when they hold their last meeting of year next week.

The U.S. Federal Reserve will cut interest rates by 25 basis points on Dec. 18, according to 90% of economists polled by Reuters, with most expecting a pause in late January amid concerns about rising inflation risks. President-elect Donald Trump's proposed policies, from import tariffs to tax cuts, are expected to be inflationary. Trump is expected to move quickly on his agenda soon after he is inaugurated on Jan. 20.

(Bloomberg) -- Australia’s central bank said it’s “gaining some confidence” that inflation is moving sustainably toward target, prompting traders to boost bets on interest-rate cuts starting as early as February.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCloud Computing Tax Threatens Chicago’s Silicon Valley AmbitionsNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampSan F