| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | United Kingdom | Manufacturing Production (YoY) | October | 3% | 1.9% | 0.8% |
| 07:00 | United Kingdom | Industrial Production (YoY) | October | 1.5% | 1.1% | 0.4% |
| 07:00 | United Kingdom | GDP m/m | October | 0.2% | -0.1% | -0.3% |
| 07:00 | United Kingdom | GDP, y/y | October | 1.3% | 0.6% | 0.3% |
During today's Asian trading, the US dollar rose slightly against major currencies, while market participants are awaiting the announcement of the results of the last Fed meeting this year.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) rose by 0.07% to 103.93. As for the Fed meeting, investors do not expect the Central Bank to make any changes to policy settings. At the same time, Fed Chairman Jerome Powell may again warn markets against excessive bets on monetary policy easing next year. Recent signs have pointed to a soft landing, but yesterday data showed consumer prices unexpectedly rising in November. According to the CME FedWatch Tool, markets still see a high probability (77.8%) that the Fed will approve the first interest rate cut in May 2024, and also expect about five 0.25% rate cuts for the whole of 2024.
The Chinese yuan declined by 0.15% against the US dollar and is now trading near its lowest level since November 20. The currency's fall was driven by news that an agenda-setting meeting of the country's top leaders failed to deliver strong stimulus measures to shore up economic growth.
The New Zealand dollar fell 0.6% against the US dollar, hitting a 2-week low, after data showed that the annual food inflation in the country eased to 6% in November from 6.3% in October. It was the lowest reading since January 2022. Against this background, the probability has increased that the Central Bank will not need to raise interest rates again.