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US Jobless Claims, Colombia Inflation In Focus

LATAM
  • With the majority of tier-one data released, focus will turn to Colombia inflation, due to be released after the close. Industrial production and construction activity data are also scheduled. Weekly US jobless claims data and the final October wholesale inventories/sales numbers are the G10 calendar highlights, while the central bank speaker slate is quieter given the proximity to the ECB, Fed meetings due next week.
  • Bank of Japan Governor Kazuo Ueda said on Thursday the BOJ's monetary policy will face further challenges from year-end to the beginning of next year when the wage outlook becomes clearer. He told lawmakers the BOJ will continue to explain and manage monetary policy appropriately without elaborating further. “Sustainable and stable achievement of the 2% price target is not yet envisaged with sufficient certainty, and it is important that a virtuous cycle between wages and prices strengthens.”
    • JPY has surged, comfortably outperforming all others in G10 to put USD/JPY through Y145.00 on the downside for the first time since early September.
  • China's expansionary macro policy has proved less effective in boosting the economy and have not offset the economy's slowdown compared to traditional growth drivers, which have faded, said Wang Yiming, a member of the PBOC monetary policy committee during Global Wealth Management Forum on Thursday.

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