November 22, 2024
United States:
Dollar Set for Longest Run of Gains in a Year Amid Haven Demand
The dollar is set for its longest run of weekly gains in more than a year, as escalating geopolitical tensions boost demand for the haven currency.
The Bloomberg Dollar Spot Index climbed as much as 0.7% on Friday to the highest level in two years.
Europe:
Euro-Zone Private Sector Unexpectedly Slips into Contraction
Euro-area business activity unexpectedly shrank in November, a sign of the damage being wrought by political chaos and heightened discord over trade.
The composite Purchasing Managers’ Index by S&P Global slid to 48.1 from 50 in October, dipping back beneath the level that separates growth from contraction.
Asia:
Japan’s Inflation Holds Above BOJ Target Amid Rate Hike Bets
Japan’s key inflation gauge held above the central bank’s target even as price gains moderated a tad, in data largely supporting the central bank’s view that underlying inflation remains solid.
Consumer prices excluding fresh food rose 2.3% in October from a year earlier, down from 2.4% in September, the Ministry of Internal Affairs reported Friday. That was above the consensus estimate of 2.2%.
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