Jeremy Oles
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| Time(GMT+0/UTC+0) | State | Importance | Event | Forecast | Previous |
| 01:30 |  | 2 points | CPI (MoM) (Nov) | ——— | -0.3% |
| 01:30 | | 2 points | CPI (YoY) (Nov) | ——— | 0.3% |
| 01:30 | | 2 points | PPI (YoY) (Nov) | ——— | -2.9% |
| 14:00 |  | 2 points | NY Fed 1-Year Consumer Inflation Expectations | ——— | 2.9% |
Summary of Upcoming Economic Events on December 8, 2024
- China Inflation Data (Nov) (01:30 UTC):
- CPI (MoM): Previous: -0.3%.
- CPI (YoY): Previous: 0.3%.
- PPI (YoY): Previous: -2.9%.
The Consumer Price Index (CPI) measures inflation from a consumer perspective, while the Producer Price Index (PPI) reflects price changes from a manufacturing standpoint. - Market Impact:
- Stronger CPI: Indicates rising inflation, supporting the CNY and signaling potential recovery in domestic demand.
- Weaker CPI or PPI: Suggests deflationary pressures, potentially weighing on the CNY and signaling weaker demand in China’s economy.
- US NY Fed 1-Year Consumer Inflation Expectations (14:00 UTC):
- Previous: 2.9%.
Tracks short-term consumer expectations for inflation. - Market Impact:
- Higher Expectations: Suggest inflationary pressures, potentially supporting the USD as it reinforces the Fed’s focus on controlling inflation.
- Lower Expectations: Reflect easing inflation concerns, potentially weighing on the USD and reducing expectations for further rate hikes.
- Previous: 2.9%.
Market Impact Analysis
- China Inflation Data:
Higher-than-expected CPI would signal improving domestic demand, supporting the CNY and boosting risk sentiment globally. Weak PPI figures would indicate ongoing deflationary pressures in the industrial sector, potentially weighing on the CNY and commodity-linked currencies like AUD. - US NY Fed Inflation Expectations:
Elevated inflation expectations would support the USD, signaling that inflation concerns remain a priority for the Fed. Lower expectations could weigh on the USD, suggesting easing inflation pressures and reducing rate hike probabilities.
Overall Impact
Volatility:
Moderate, with focus on China’s inflation data influencing the CNY and broader risk sentiment, and US inflation expectations shaping USD outlook.
Impact Score: 6/10, driven by inflation data in China and the US’s inflation expectations, influencing market sentiment for currencies and commodities.
