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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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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5h 34min ago
Yen Falls Against Majors
The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
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5h 59min ago
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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7h 8min ago
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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7h 24min ago
Commodity Currencies Rise Against Majors
The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Wednesday.
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8h 0min ago
Asian Markets Trade Mixed
Asian stock markets are trading mixed on Wednesday, following the mixed cues from Wall Street overnight, 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. Asian markets closed mostly higher on Tuesday.
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9h 56min ago
Japanese Market Modestly Lower
The Japanese stock market is trading modestly lower in choppy trading on Wednesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling well below the 38,400 level, with weakness across most sectors led by financial and technology stocks.
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11h 10min ago
Thai Stock Market May Add To Its Winnings On Wednesday
The Thai stock market has moved higher in two straight sessions, gathering almost 20 points or 1.4 percent along the way. The Stock Exchange of Thailand now sits just above the 1,460-point plateau and it's likely to open to the upside again on Wednesday.
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11h 30min ago
