Premarket: Stocks slip as investors cautiously await U.S. inflation data

European shares lost ground on Wednesday, mirroring a drop in Asian stock markets, as investors cautiously awaited U.S. inflation data that is expected to put the Federal Reserve on course to cut rates again, with the dollar holding near a two-week high.

The median forecast of economists polled by Reuters is for headline and core U.S. consumer prices increasing 0.3% month on month for November. No forecasts were above 0.3%, which analysts say leaves markets vulnerable to a surprise. The yuan fell around 0.3% to 7.2803 per dollar, with the Korean won and the China-sensitive Australian and New Zealand dollars also dipping.

“We think today’s Bank of Canada decision may have some read over to the US,” ING analysts wrote, noting that a 50 bps cut would signal a “strong view” that the Fed will cut rates by 25 bps next week.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Premarket: World stocks head for best month since May as Trump trades lift Wall StreetU.S. futures point to a higher open
Source: globeandmail - 🏆 5. / 92 Read more »

Wall Street stocks end lower after inflation data, tech stocks push Nasdaq downThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Premarket: Stocks push higher, U.S. dollar pauses as markets await Trump appointmentsNvidia earnings on Wednesday may set near-term tone for stocks
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks rise with cooling geopolitics ahead of Nvidia earningsWall Street futures up, U.S. dollar steady
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks sputter as Nvidia’s growth slows, bitcoin hits new highRussia-Ukraine concerns lift gold, oil
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: European stocks dip, ignoring China rally, Aussie falls after RBAChina bond yields hit record lows
Source: globebusiness - 🏆 31. / 66 Read more »