📆 Wednesday, November 8
► Global stocks retreated as markets await speeches from Federal Reserve officials, including Chair Jerome Powell, seeking clarity on the Fed's future monetary policy and signs when to expect rate cuts. According to our Chief Analyst Robert Lindner, Powell and other Fed officials will likely try to push back dovish hopes in light of last week's rally, which threatens to loosen financial conditions and borrowing costs.
► In Europe, stocks declined, with the Stoxx Europe 600 down 0.25%. Germany's October inflation eased to a 14-month low of 3.8%, with stable month-over-month CPI, but core inflation at 4.3% underscores persistent underlying price pressures. This moderation in inflation could signal a turning point for Germany's aggressive inflationary cycle, potentially impacting the European Central Bank's monetary policy decisions and providing some relief to a cost-of-living crisis that has been exacerbated by energy supply concerns and geopolitical tensions. Retail sales data in the Eurozone came in at -0.3% MoM and -2.9% YoY (near expectations) showing ongoing weakness in the region's consumer spending.
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