Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
ANZ and Westpac Forecast Two RBA Rate Hikes in March and May 2026 
Bank of Japan Holds Rates Steady Amid Inflation Concerns and Yen Weakness 
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. 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.
