The Hawkish period is longer in 2023. The FOMC Rate Decision results project that next year’s FFR to end at 5.1%, 50 Bps higher than the previous projection last September, which stated that the FFR in 2023 will end at the level of 4.6%.
The Hawkish period is longer in 2023. The FOMC Rate Decision results project that next year’s FFR to end at 5.1%, 50 Bps higher than the previous projection last September, which stated that the FFR in 2023 will end at the level of 4.6%.
Petrol prices fell 2% MoM, putting pressure on US inflation. On a monthly basis, US Inflation Headline in Nov. was only 0.1% MoM (Vs. Oct. 0.4% MoM) or recorded an annual inflation rate of 7.2% YoY (Vs. Oct. 7.7% YoY).
Petrol prices fell 2% MoM, putting pressure on US inflation, and Wall Street rallied, with the Nasdaq appreciating by 1%. On a monthly basis, US Inflation Headline in Nov. was only 0.1% MoM (Vs. Oct. 0.4% MoM) or recorded an annual inflation rate of 7.2% YoY (Vs. Oct. 7.7% YoY).
SUN market was mixed at the start of the week, amidst waiting for the release of inflation and FFR data. Based on a Bloomberg survey, US Headline CPI Nov. projected to slope to 0.3% MoM and 7.3% YoY; with FFR projected to only increase +50Bps (Vs. +75Bps) to 4.25%-4.50%; the data will be released on Tuesday and Wednesday local time respectively.
Wall Street rallied earlier in the week amid a wait for inflation and FFR data release. The Dow appreciated by 500 points or led to the strengthening of Wall Street exchanges.
The volatility of energy commodities amid the easing of China’s Zero-Covid Policy. Oil prices are approaching its lowest level this year, as US fuel supplies are above forecast, causing Brent and WTI oil to come near to the Lowest Level of USD73.7/Barrel and USD70.6/Barrel of YtD, respectively.
The volatility of energy commodities amid the easing of China’s Zero-Covid Policy. Oil prices are approaching its lowest level this year, as US fuel supplies are above forecast, causing Brent and WTI oil to come near to the Lowest Level of USD73.7/Barrel and USD70.6/Barrel of YtD, respectively.
Cost of Service pushed producer-level inflation, and PPI Final Demand US in Nov. rose moderately to 0.3% (Vs. Surv. 0.2%). In more detail, the latest rise became the lowest annual PPI increase in 1.5 years; amid investors’ Wait and See stance, ahead of the release of the US CPI Headline Nov.
