- China reported that lending slowed sharply in October, and this may spur a policy response in a way that the inflation readings may not.
- Sterling was turned back from $1.3600 yesterday, which corresponds to the (50%) retracement objective of the sell-off from October 20 and the (61.8%) retracement target of the sell-off spurred by the Bank of England.
- The Energy Information Agency's updated short-term outlook reduced the chances of a significant response to OPEC+ reluctance to boost output quicker and sent December WTI 3% higher to approach the upper end of its trading range.
For further details see:
China's CPI Accelerated To 1.5%, US CPI To Approach 6%