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US inflation dipped to 3.2% in October, marking the first four-month decline, driven by a drop in fuel prices and slightly below the anticipated 3.3%.
Asian shares rose after new highs in US stocks on Tuesday. This week, central banks will scrutinize and test rate-cut expectations.
Monday's oil price rise, fueled by US strategic reserve replenishment, faces oversupply worries due to record-high US output.
The Japanese yen rose as the BOJ considered exiting ultra-low rates. The Fed and ECB expect rate cuts to boost bullish sentiment.
Oil prices rebounded in early Asian trading but stayed near June's lows due to elevated US crude output and gasoline inventories.
The United States added 150,000 nonfarm payrolls in October, and the unemployment rate rose to 3.9%, lower than expected.
The euro rebounded against the dollar, hitting a three-week low of 1.07785 post-ECB hawkish remarks on no future rate hikes.
OPEC+ output cuts left oil prices stable; smart money had anticipated the disappointment, as indicated by pre-existing data.
Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ agreed to voluntary oil output cuts for the first quarter next year.
Gold neared a 7-month peak on Thursday amid speculation of a Fed rate cut in H1 2023, pressuring the dollar and Treasury yields.
Charlie Munger, known for being Warren Buffett’s right-hand man, died at age 99. He would have turned 100 on New Year’s Day.
The US dollar fell to a 2-month low against the yen as Fed Governor Christopher Waller hinted at a potential rate cut in the coming months on Wednesday.
Oil prices rose on Tuesday ahead of a key OPEC+ meeting. Expectations are high for extended and deeper production cuts to support prices.
Gold surpassed $2000 again on Monday, fueled by a weakened dollar and bets that the Fed won't raise rates further this month.
