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Asian Currencies Steady as Markets Await U.S. Inflation Data 
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European Stocks Flat as Oil Prices Rise, US CPI in Focus 
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Australia Housing Crisis Deepens as Worker Shortages Delay Homebuilding 
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data 
According to latest report from BRC, shop prices are in decline at record pace in November, posing considerable doubts over bank of England's (BOE) ability hike rates. After maintaining the rhetoric for quite some time, in last monetary policy meeting and inflation report, BOE has scaled back their expectations for both inflation and interest rates.
According to BRC, UK shop prices declined for record 31st month, down -2.1%, after dropping 1.8% in October. Downward pressure on prices are quite significant.
- Detailed report shows, clothing and footwear prices are down -6.3% y/y, DIY, gardening and hardware down -4.7%, books, stationary and home entertainment prices are down -4.6%, Electricals are down -4.3%, overall non-food items are down -3.3%.
Official reading of annual inflation rate was -0.1% in October. It seems, November won't be much different.
Yesterday, manufacturing PMI report came at 52.7, weaker than prior and halted Pound's advance against Dollar around 1.512.
Pound is currently trading at 1.506, awaiting the construction PMI report.
