📆 Wednesday, November 15
â–º 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.
â–º 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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