📣 Macro US:

⚫ US PPI [October]:

(Producer Price Index/Inflation)

🟠MoM: 0.2%, expected 0.2%, prev 0.1%.

🟠YoY: 2.4%, expected 2.3%, prev 1.9%.

✧ US producer prices rose 0.2% month-on-month in October 2024, in line with market expectations. The figure was revised up to 0.1% in September. Services prices increased 0.3% (from 0.2% in September), with more than a third of the increase coming from a 3.6% increase in portfolio management fees. Goods prices rose 0.1% after two months of declines, helped by an 8.4% rise in carbon steel prices.

✧ U.S. core producer prices increased 0.3% month-on-month in October 2024, beating September's 0.2% gain and in line with market expectations. Year-on-year, core producer prices rose 3.1%, slightly above the 3% gain expected and last month's 2.9% gain.

⚫ Initial Jobless Claims:

🟠 217K, expected 224K, previous 221K.

✧ U.S. initial jobless claims fell 4,000 to 217,000 in the week ended November 9, hitting their lowest level since May and well above market expectations of 223,000.Jobless claims also fell by 19,000 to 1,873,000 in the last week of October. The data confirms the resilience of the US labor market despite the Fed's aggressive tightening in recent quarters, which could allow the central bank to slow the pace of monetary easing if inflation remains high.

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