📆 Wednesday, November 15
► European stocks experienced a surge, influenced by positive investor sentiment following cooler-than-expected inflation data in the US and UK. The Stoxx 600 Index is up over 0.65%. In the UK, the GBP weakened as inflation rates showed a larger-than-anticipated slowdown, spurring hopes that the Bank of England might halt further rate increases even as inflation remains way above target. UK consumer prices rose 4.6% YoY in October, a rapid decrease from September's 6.7%; Core inflation cooled more than expected to 5.7% from 6.1%. The focus in Europe now shifts to upcoming US retail sales and producer price reports, with implications for future rate adjustments by the Federal Reserve.
► US markets showed optimism, indicated by the S&P 500's notable gain of close to 2%, its largest since April. US futures are currently up 0.35%. This upward trend is fueled by expectations that the Federal Reserve has finished it's tightening campaign. The 10-year Treasury yield remained stable after a significant drop yesterday. USD showed little change after a considerable decline. US investor sentiment is buoyed by the possibility of a 50 basis-point rate cut by July, as indicated by expectations of swap markets.
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