European Economic News Preview: UK Inflation Data Due
(RTTNews) - Consumer and producer prices figures from the UK are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics is scheduled to issue UK consumer and producer prices for October. Consumer price inflation is seen rising to 2.2 percent in October from 1.7 percent in September.
In the meantime, Destatis releases Germany's producer prices for October. Economists expect producer prices to fall 1.1 percent annually after easing 1.4 percent in September.
At 4.30 am ET, house price figures are due from the UK.
At 5.00 am ET, Eurostat is set to issue euro area construction output for September.
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Pound Rises Against Majors
The British pound strengthened against other major currencies in the European session on Wednesday.
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5h 51min atrás
Mixed Trend In Asian Markets
Equity markets in Asia closed on a mixed note on Wednesday ahead of the much-anticipated earnings update from NVIDIA Corp.
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6h 9min atrás
Yen Falls Amid BoJ Rate Hike Uncertainty
The Japanese yen weakened against other major currencies in the Asian session on Wednesday, due to uncertainties over the timing of the Bank of Japan's (BoJ) next interest rate hike.
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6h 36min atrás
Commodity Currencies Rise On Upbeat Crude Oil Prices
The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Wednesday, as the crude oil prices rose amid concerns about escalating tensions between the U.S. and Russia over the war in Ukraine after Russian President Vladimir Putin updated the nuclear doctrine.
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6h 58min atrás
UK Inflation Accelerates More Than Forecast
UK consumer price inflation accelerated more than expected in October, lowering the chances of a rate cut at the upcoming monetary policy meeting in December. The consumer price index rose 2.3 percent on a yearly basis, following September's 1.7 percent increase, which was the lowest since April 2021, the Office for National Statistics reported Wednesday.
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7h 47min atrás
Yen Falls Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
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8h 13min atrás
China Keeps Loan Prime Rates Unchanged As Expected
The People's Bank of China left its benchmark lending rates unchanged on Wednesday as it monitor the impact of recent policy adjustments. The PBoC maintained its one-year loan prime rate at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.60 percent. The bank had cut its both LPRs by 25 basis points each in October.
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9h 22min atrás
U.K.CPI Update Seen Swaying European Market Sentiment
Inflation data from the U.K. for the month of October due on Wednesday morning is expected to influence European market sentiment.
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9h 37min atrás
