Global Central Banks Hold Rates Amid Iran War-Driven Energy Price Surge 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
ANZ and Westpac Forecast Two RBA Rate Hikes in March and May 2026 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
Fed Rate Cut Hopes Fade as Oil Prices Stoke Inflation Fears 
Bank of Japan Holds Rates Steady Amid Iran War Inflation Fears 
RBA Set for Back-to-Back Rate Hikes, Westpac Forecasts 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- Australia: Consumer inflation expectation declined to 3.6 percent in November, down from 4 percent in October. The unemployment rate unchanged at 5 percent in October, despite a 0.2 percent increase in the participation rate as the economy added 32,800 new jobs in the month.
- China: House price index rose to 8.6 percent y/y in October.
Upcoming:
- United Kingdom: Retail sales report will be released at 9:30 GMT. MPC member Tenreyro is set for a speech at 13:00 GMT.
- Eurozone: September trade balance report will be released at 10:00 GMT. ECB’s Praet is set for a speech at 13:10 GMT.
- United States: NY empire state manufacturing report will be released at 13:30 GMT, along with retail sales report, weekly jobless claims report, terms of trade report, and Philadelphia Fed manufacturing report. EIA will release weekly natural gas inventory report 15:30 GMT, followed by oil inventory report at 16:00 GMT. Fed’s Powell is set for a speech at 16:30 GMT, and Bostic at 18:00 GMT.
- New Zealand: Business PMI report will be released at 21:30 GMT.
