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News data and hot events covering global stock markets, foreign exchange, commodities, and virtual currencies
The frontrunner for the next Fed chair claims there is still significant room for interest rate cuts, as U.S. November CPI growth unexpectedly slows!
· The US unadjusted CPI annual rate for November recorded 2.7%, lower than the market expectation of 3.1%; the US unadjusted core CPI annual rate recorded 2.6%, the lowest since March 2021. This news is bearish for the US dollar. · The EU sanctions 41 Russian "shadow fleet" vessels, and the UK adds 24 new sanctions targets against Russia. This news is bullish for crude oil. · The Bank of England cut its benchmark interest rate from 4.00% to 3.75%, in line with market expectations. This news is negative for the pound.
TOPONE Markets Analyst
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