Japan’s headline inflation came in at 3%, the 18th straight month above the BOJ’s 2% target, while China will release its one-year and five-year…
While he noted that recent data showed progress toward slowing prices, Powell also added that monetary policy was not yet too tight.Asia investors will also assess Japan's September inflation data, which came in at 3%, the 18th straight month above the BOJ's 2% target, as well as China's one-year and five-year loan prime rates.
However, Fairlead Strategies' Katie Stockton expects that gold is"short-term overstretched" and could pull back next week. She expects the recent move higher is a bounce from its previous lows. "Gold have really shot up this week," Stockton said."Everyone's been very quick to say that it's because there's risk off now in the market, but I would disagree with that."
"We have to contextualize it with what happened before this relief rally in gold, right, which was a really sharp downdraft. So, gold is basically right back to where it was in sort of mid to late September," she added."So we've seen a round trip in the price of gold."Johnson Controlsfor the week ended Oct. 14. That's well below a Dow Jones estimate of 210,000, and it marks another sign of a resilient economy despite higher interest rates.
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