Bank of Japan Faces Rate Uncertainty Amid Middle East Oil Shock 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
Citigroup Delays Fed Rate Cut Forecast Amid Strong Jobs Data and Inflation Concerns 
Morgan Stanley: Fed Rate Cuts Still on Track Despite Oil-Driven Inflation 
RBA's Hauser Flags Uncertainty on Rate Settings Amid Iran War Economic Risks 
ECB Warns of Rising Inflation Risks Amid Iran War Energy Shock 
Bank of Korea Nominee Shin Hyun-song Signals Possible Rate Hike Amid Middle East Inflation Fears 
RBNZ Holds Rates at 2.25% as Middle East Conflict Fuels Inflation Concerns 
RBI Holds Interest Rates Steady Amid Middle East Tensions and Global Uncertainty 
Lots of economic data and events scheduled for today, and some with high volatility risks associated. U.S. market is closed today to honor the passing away of former President George W Bush.
Data released so far:
- Australia: Q3 GDP came at 2.8 percent y/y, lower than the expectation of 3.3 percent and lower than 3.1 percent growth in the last quarter.
- Japan: Markit services PMI decline marginally to 52.3 in November.
- China: Caixin services PMI rose sharply to 53.8 in November.
Upcoming:
- Spain: October industrial output report will be released at 8:00 GMT. Services PMI report will be published at 8:15 GMT.
- Eurozone: ECB president Draghi is set for a speech at 8:30 GMT.
- Italy: Services PMI report will be published at 8:45 GMT.
- France: Services PMI report will be published at 8:50 GMT.
- Germany: Services PMI report will be published at 8:55 GMT.
- Eurozone: Services PMI report will be published at 9:00 GMT, followed by the October retail sales report at 10:00 GMT.
- United States: MBA mortgage application report will be published at 12:00 GMT. Fed’s Quarles is set for a speech at 13:15 GMT. Federal Reserve will release its Beige Book report at 19:00 GMT.
- Canada: Bank of Canada (BoC) will announce rate decision at 15:00 GMT.
