Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
Gold Prices Mixed as Stronger Dollar Offsets Safe-Haven Demand Amid U.S.-Iran Peace Talks 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
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.
