Zforex
zForex.com Representative
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On Friday, markets in the Asia-Pacific region attempted a rebound, with Australian stocks bouncing back from a one-year low in the previous session. Investors continued to process new inflation data. Meanwhile, European stocks are expected to open slightly higher as investors remain cautious due to earnings and the state of the global economy.
Chinese state media reported that former premier Li Keqiang passed away at the age of 68. Data released by the government shows that China's industrial profits fell in the first nine months compared to the previous year.
In Australia, government data released on Friday revealed that producer prices rose at a faster pace during the third quarter. The country's PPI recorded a 1.8% increase quarter-on-quarter, a significant jump from the previous quarter's 0.5% rise.
In Tokyo, the headline inflation rate for October came in at 3.3%, a faster rate of growth compared to the 2.8% seen in September. Core inflation, which excludes fresh food prices, stood at 2.7%, slightly higher than the 2.5% expected by economists polled by Reuters.
The European Central Bank (ECB) maintained its interest rates at their current levels on Thursday following a series of 10 rate hikes. ECB President Christine Lagarde clarified that the bank had not deliberated on the timing of the initial rate reduction, considering such a move as "totally premature."
The U.S. GDP expanded by an annualized rate of 4.9% in the third quarter, surpassing the Dow Jones forecast of 4.7% growth. This is an improvement from the 2.1% growth seen in the second quarter, indicating economic resilience despite the Federal Reserve's efforts to control inflation.
On Friday, the U.S. personal consumption expenditures reading, which is the Federal Reserve's preferred inflation gauge, is set to be released.
Chinese state media reported that former premier Li Keqiang passed away at the age of 68. Data released by the government shows that China's industrial profits fell in the first nine months compared to the previous year.
In Australia, government data released on Friday revealed that producer prices rose at a faster pace during the third quarter. The country's PPI recorded a 1.8% increase quarter-on-quarter, a significant jump from the previous quarter's 0.5% rise.
In Tokyo, the headline inflation rate for October came in at 3.3%, a faster rate of growth compared to the 2.8% seen in September. Core inflation, which excludes fresh food prices, stood at 2.7%, slightly higher than the 2.5% expected by economists polled by Reuters.
The European Central Bank (ECB) maintained its interest rates at their current levels on Thursday following a series of 10 rate hikes. ECB President Christine Lagarde clarified that the bank had not deliberated on the timing of the initial rate reduction, considering such a move as "totally premature."
The U.S. GDP expanded by an annualized rate of 4.9% in the third quarter, surpassing the Dow Jones forecast of 4.7% growth. This is an improvement from the 2.1% growth seen in the second quarter, indicating economic resilience despite the Federal Reserve's efforts to control inflation.
On Friday, the U.S. personal consumption expenditures reading, which is the Federal Reserve's preferred inflation gauge, is set to be released.
