Japan Inflation Data Due On Friday
(RTTNews) - Japan will on Friday release May figures for consumer prices, highlighting a light day in Asia-Pacific economic activity. In April, overall inflation was up 0.4 percent on month and 2.5 percent on year, while core CPI climbed an annual 2.1 percent.
Singapore will provide May numbers for industrial production, with forecasts suggesting an increase of 2.8 percent on month and 5.8 percent on year. That follows the 2/2 percent monthly increase and the 6.2 percent annual gain in April.
China will see final current account data for the first quarter of 2022; the current account surplus was $118.4 billion in the three months prior.
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U.S. Dollar Advances As Concerns Of Rate Hike Due To Possible Higher Inflation Increase
The U.S. Dollar value edged higher on Friday as crude oil prices continued to surge for the second day supported by concerns of a potential U.S.-Iran war. Oil-driven inflation worries have led to expectations of an interest rate hike in the U.S.
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Swiss Market Ends Moderately Lower
After edging up a bit at the start, the Swiss market retreated and stayed in negative territory throughout the session on Friday. Worries about inflation and possible monetary tightening by several global central banks rendered the mood cautious.
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European Stocks Close Lower On Earnings, Weak Economic Data
The major European markets closed lower on Friday as largely weak regional PMI data, and concerns about inflation and monetary tightening amid continued rise in oil prices hurt sentiment. France's debt woes and uncertainty about returns on AI-related investments weighed as well.
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U.S. Consumer Sentiment Deteriorates Far Less Than Previously Estimated In October
The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by far less than previously estimated in the month of October. The report said the University of Michigan's consumer sentiment index for October was upwardly revised to 48.0 from a preliminary reading of 46.3.
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Bay Street Look Headed For Weak Start
Canadian stocks are likely to open on a weak note on Friday amid concerns about inflation and prospects of interest rate hikes by the Canadian and U.S. central banks. Oil prices are up sharply, while precious metals are notably lower.
Canadian retail sales data, and quarterly earnings updates, as well as U.S. PMI reports are set to make a notable impact on price movements.
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Eurozone Private Sector Growth At 4-Month Low
The euro area private sector softened to a four-month low in October as activity in France shifted back into contraction amid tightening financial conditions and rising political pressures, flash purchasing managers' survey data from S&P Global revealed Friday. The composite output index fell to 51.9 in October from 53.1 in the previous month, falling below the economist forecast of 52.7.
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FTSE 100 Falls 0.5% On Weak Retail Sales, Consumer Confidence Data
The FTSE 100 declined 52.73 points to 10,672.32 Friday as weak retail sales, declining consumer confidence, and Middle East tensions offset private sector expansion. Retail sales fell 0.4% in September versus forecasts of 0.1%, while consumer sentiment hit its sharpest pandemic-era drop.
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