Open: London Session | Forex, Metals, Oil, Agriculture November 10, 2022

investors

Currencies

To get an idea of just how important this inflation report is, have a look at volatility in the euro-dollar pair.

United States

Meanwhile, Biden said he is optimistic the US isn t nearing a recession, but said that his actions to lower inflation would need more time to take effect. So while neither borrower nor lender can affect the Fed s decision-making process, lenders can still work to mitigate the ultimate cost of capital. That s keeping a fifth-straight 75 basis-point increase in interest rates on the table for the Fed s meeting next month. Despite improved discipline, a very narrow majority with a much stronger diehard Trump wing will add to the uncertainty.
Overall consumer-price inflation is expected to come at 7.9%, which trails the Cleveland Fed forecast by 0.2 percentage point. But as inflation grips Europe and the US, government rates are soaring. In the US, Fed fund futures point to a terminal rate above 5%, about where it was before the global financial crisis. But it looks like the US Securities and Exchange Commission s Gary Gensler has a point: Crypto, thus far, has been somewhat of a Wild West.
A slew of ECB, Bank of England and Fed officials speak at events. The likelihood of a showdown between Trump and DeSantis looms over the GOP.

Europe

Brussels Edition The EU pursues decarbonization efforts. The ECB also publishes its Economic Bulletin.

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