As investors brace for the upcoming week, the Eurozone's inflation figures are set to take center stage, following a recent uptick in inflation rates across various regions. The Eurozone's October inflation rose to 2%, up from 1.7%, while Germany's Consumer Price Index (CPI) increased to 2% from 1.6%. The flash Consumer Prices Indices (CPIs) for November are expected to show a harmonized CPI of 2.3% and core inflation at 2.8%. This data is crucial as it could influence market sentiment and central bank policies across Europe and beyond. [8be68923]
In the U.K., inflation data for October is projected to rise to 2.2%, up from 1.7% in September, with core inflation expected to decrease to 3.1%. Month-on-month inflation is forecasted to rise by 0.5%. These figures come at a time when Wall Street closed mixed, with the Nasdaq up by 1.04% and the Dow down by 0.28%. In Europe, market sentiment has been negative, with Switzerland's SMI down 0.94% and the pan-European Stoxx-50 down 0.83%. However, DAX Futures are up by 0.21% and CAC 40 Futures are up by 0.34%. The Dollar Index stands at 106.27, while gold futures are priced at $2,641.10. Crude oil prices have also seen a decline, attributed to easing geopolitical concerns. [14025406]
The recent inflation data has raised concerns about the economic recovery and the potential impact on central bank policies. In the U.S., preliminary GDP growth was recorded at 2.8%, and the Personal Consumption Expenditures (PCE) index rose 2.1% year-on-year in September. Meanwhile, the Reserve Bank of New Zealand (RBNZ) is expected to cut the cash rate by at least 0.5%, and Australia's CPI is anticipated to rise to 2.5% year-on-year. Investors are now looking ahead to upcoming producer price inflation data from Germany and a speech by ECB President Christine Lagarde, which could further sway market dynamics. [82dc3c38]