Japan Industrial Production Data Due On Tuesday
(RTTNews) - Japan will on Tuesday release final April figures for industrial production, highlighting a modest day for Asia-Pacific economic activity. In March, output was up 0.3 percent on month and down 1.7 percent on year, while capacity utilization sank 1.6 percent on month.
China will see May numbers for foreign direct investment; in April, FDI surged 20.5 percent on year.
Hong Kong will provide Q1 figures for industrial production; in the previous three months, output was up 5.8 percent on year.
Australia will release Q1 data for house prices; in the previous three months, house prices jumped 4.7 percent on quarter and 23.7 percent on year.
New Zealand will see May numbers for food prices; in April, food prices jumped 6.4 percent on year.
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The market's rise is also due to the positive reaction to the Federal Reserve's preferred readings on consumer price inflation.
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The U.S. dollar declined against its major counterparts in the New York session on Friday, as a slowdown in PCE inflation for November bolstered the prospect of slower pace of rate cuts by the Federal Reserve next year.
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Swiss Market Ends Modestly Lower
Swiss stocks found some support in late afternoon trades on Friday, but still ended the day's session on a weak note.
The mood remained cautious amid concerns about the outlook for global economy in the wake of tariff threats by the U.S., fears of a U.S. government shutdown, and recent hawkish comments from the Fed that interest rate cuts will be fewer next year than earlier forecast.
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European Stocks Close Lower Again
European stocks closed lower on Friday, extending losses from the previous session, as concerns about political uncertainty in some major European countries, fears of a U.S. government shutdown, and potential tariffs on the European Union weighed on sentiment.
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U.S. Consumer Sentiment Improves In Line With Preliminary Estimate In December
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. improved in line with its preliminary estimate in the month of December. The report said the consumer sentiment index for December was unrevised from the preliminary estimate of 74.0, in line with economists' expectations. The consumer sentiment index increased from 71.8 in November.
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U.S. Consumer Prices Inch Higher In November, Annual Growth Accelerates Slightly Less Than Expected
Consumer prices in the U.S. crept slightly higher in the month of November, according to a closely watched report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in November after rising by 0.2 percent in October. Economists had expected prices to increase by another 0.2 percent.
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