There was a risk-off mood in Asia that extended into Europe and US markets sending US treasury yields and US stocks off a cliff. However, Brexit remains the top agenda item on the discussion table. The latest wave of headlines is that U.K prime minister has secured the European Union divorce deal, however, the proposal now awaits parliamentary approval.
On the data front, U.S. consumer prices increased by the most in nine months in October. Their core inflation increased 2.1 percent. The data confirms steadily rising inflation that will likely keep the Federal Reserve on track to raise interest rates again next month and this is something the traders would be eagerly awaiting to understand when the Fed Chair Jerome Powell speaks again tomorrow.
Meanwhile, Australia’s employment growth surged in October, keeping the unemployment rate steady 5 percent. This is the lowest level in over six years.