Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Philippine GDP Growth Slows to 2.3% in Q2 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Job Growth Seen Picking Up in July 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
US dollar index is trading in a narrow range between 106.33 and 106.96 in past one week due to mixed US economic data.
As of November 14, 2024, the Producer Price Index (PPI) showed no change from the previous month, while the core PPI rose by 0.2%. Jobless claims slightly improved, with initial claims falling to 221,000 but continuing claims rising to 1.892 million. Retail sales increased by 0.4% in October, exceeding expectations, while industrial production fell by 0.3%. Consumer sentiment declined to 70.5, suggesting people are becoming more cautious. Inflation expectations hit a four-year low, indicating easing price pressures. Overall, the economy shows mixed signals, with strength in retail but weakness in production and claims. These trends will be important for policymakers moving forward.
Recent reports on the Consumer Price Index (CPI) and Producer Price Index (PPI) have changed expectations for a Federal Reserve rate cut. The chance of a rate cut in December has increased to about 80%, up from around 60% beforehand. Traders widely believe the Fed will lower interest rates by 25 basis points. This development shows growing confidence that the Fed will respond to the economic data. Overall, the situation suggests a likely move towards easing monetary policy.
Next week, several countries are set to announce their estimates for October consumer inflation
Canadian CPI Data
Release Date: Tuesday, November 19, 2024.
UK CPI Data
Release Date: Wednesday, November 20, 2024.
