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China’s CPI inflation drops to -0.5% YoY in November vs. -0.2% expected
China’s inflation, as measured by the Consumer Price Index (CPI), fell 0.5% YoY in November from a 0.2% decline in October.
AUD/USD remains capped below the 0.6600 barrier ahead of the RBA’s Bullock speech, US CPI data
The AUD/USD pair edges lower below the 0.6600 barrier during the early Asian session on Monday.
Must be soft landing, markets say
S&P 500 had little second thoughts on NFPs, and rebounded in yet another soft landing celebration.
ECB rate cuts expected in 2024, beginning March, as euro area inflation declines rapidly
<p>A not via ANZ on their outlook for the ECB, the main summary points:</p><p>Conditions for European Central Bank rate cuts to be in place in early 2024 Euro area inflation is falling rapidly. </p><ul><li>We think, by early 2024, interest rates will have been held sufficiently high for sufficiently long for the
USD/JPY: Solid jobs report, reduced expectations of Fed cut, BOJ pivot, underpinning pair
<p>A couple of items from Friday to take note of for USD/JPY traders. </p><p>1. Expectations of Federal Open Market Committee (FOMC) rate cuts have been pared back due to the solid jobs report as well as the Wall Street Journal Fed 'insider' report:</p><ul><li><a href="https://www.forexlive.com/
Deflation pressures in China showed up starkly in the inflation data over the weekend
<p>Inflation data from China over the weekend revealed consumer prices falling at their fastest in three years (the y/y drop was the fastest since November 2020):</p><ul><li><a href="https://www.forexlive.com/news/weekend-news-china-cpi-05-yy-vs-01-expected-20231210/" target="_blank" rel="follow&q
Fire triggers explosions at Eastern Iran's Birjand Refinery
<p>Weekend news of fires at refinery reservoirs in the Birjand special economic zone in eastern Iran.</p><p>Iranian state media:</p><ul><li>fire at a small refinery … two explosions</li><li>No casualties were reported</li><li>all 18 reservoirs at the refinery have caught fire</li&