Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
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.
