Tomorrow night at 21:30 (Beijing time, the 13th), October PPI will be released. The economic calendar forecasts month-over-month increases of 0.4% for headline PPI and 0.3% for core PPI, compared with previous readings of 1.3% and 0.7%. Since CPI, the probability of a 50-basis-point rate hike in December shown by CME FedWatch has risen from 0 to 12.9%. If PPI comes in hot again, that probability could climb further.
The dollar index closed yesterday at 102.90, its highest level since last April; spot gold closed at $3,987.69, down 1.12% (compiled by FXBus). $BTC Binance spot is around $73,700, while $ETH is around $2,052. Both are largely unchanged over the past 24 hours and have yet to price in PPI. Initial jobless claims are expected to come in at 194,000 tonight at 21:30, but they are not the main focus. More important is whether tomorrow’s data can push the probability of a 50-basis-point hike higher than 12.9%.
The dollar index closed yesterday at 102.90, its highest level since last April; spot gold closed at $3,987.69, down 1.12% (compiled by FXBus). $BTC Binance spot is around $73,700, while $ETH is around $2,052. Both are largely unchanged over the past 24 hours and have yet to price in PPI. Initial jobless claims are expected to come in at 194,000 tonight at 21:30, but they are not the main focus. More important is whether tomorrow’s data can push the probability of a 50-basis-point hike higher than 12.9%.