The U.S. economic calendar has been busy this week, with attention focused on key inflation data that could influence central bank decisions.
The #cryptocurrency market rallied over the weekend and maintained its momentum into early Asian hours on Monday.
This week's economic and inflation reports could boost stocks, especially if the likelihood of a significant interest rate cut increases. Last week's 50 basis point rate cut in November was all but ruled out, but that could change. Last week's jobs report underscored the strength of the labor market and raised the possibility that the economy will continue to grow above trend this quarter.
On Wednesday, the U. S. Federal Reserve will release the minutes of its regular September meeting. On Thursday, it will release the #core consumer price index (CPI), one of the two main measures of inflation. Central bank governors, businesses and consumers are watching the CPI report closely because it reflects price movements, influences consumer spending and directly affects the Fed's interest rate decisions.
The easing of price pressures prompted the Fed to cut interest rates in September, which affected the cost of borrowing in the economy.
On Friday, the September Producer Price Index (PPI) will be released; PPI reflects producer and manufacturer prices and has a direct impact on retail prices. It is considered a leading indicator of inflationary pressures and next month's PPI.
Read us at: Compass Investments