US-Iran Ceasefire Under Pressure as Fresh Strait of Hormuz Clashes Shake Oil Markets 
Gold Prices Rise as Weaker Dollar and Iran Ceasefire Hopes Boost Safe-Haven Demand 
Iran-U.S. Peace Deal Near as Oil Prices Fall and Nuclear Disputes Persist 
European Stocks Fall as US-Iran Conflict Rekindles Energy Supply Fears 
Dollar Weakens as Iran Peace Hopes Boost Risk Appetite and Yen Gains Strength 
Japan’s Yen Intervention and BOJ Rate Hike Bets Support Currency Recovery 
Gold Prices Hold Firm as Iran Tensions and Dollar Swings Drive Safe-Haven Demand 
China EV Truck Boom Accelerates as Iran War Drives Diesel Prices Higher 
Asian Currencies Slip as US Dollar Gains on Rising Iran Tensions and Awaited Jobs Data 
Lula and Trump Talks Signal New Phase in Brazil-US Relations 
Wall Street Hits Record High as AI Chip Stocks and Strong U.S. Jobs Data Boost Markets 
Wall Street Futures Edge Higher as Iran Tensions and AI Optimism Shape Markets 
US Trade Court Blocks Trump’s 10% Global Tariffs 
China Export Growth Surges in April as Global Buyers Rush to Secure Supplies 
Japan Tech Stocks Surge as AI Optimism Lifts SoftBank, Chipmakers 
Asian Stocks Rally as Japan’s Nikkei Hits Record High on U.S.-Iran Peace Optimism 
Russian LNG Shadow Fleet Expands Amid Arctic LNG 2 Sanctions 
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.
