South Korea’s jobless rate rose in October, but it remains below 3%. The Bank of Korea is expected to keep policy unchanged in November amid concerns about property risk and volatile foreign exchange markets
FX Daily: Data holds the key to FOMC balance. We expect the dollar to become more sensitive to data in the near term, as markets seek a catalyst to double down on recent dovish Fed speculation. Employment figures may be subject to closer examination, with the rationale that a softer jobs market can convert a few hawks after mild inflation failed to do so. EUR/USD continues to face upside risks
Concerns over the US growth outlook were amplified by Friday’s weak consumer spending data. Nevertheless, a recovery in tech stocks led US equity prices higher. Government bond yields were lower, as market pricing for the fed funds rate switched to price in more interest rates cuts this year.
