Australia’s Retail Sales climbed by 0.6% MoM in October, compared to a rise of 0.1% in September, according to the Australian Bureau of Statistics (ABS) on Monday. The reading was above the estimations of a 0.3% growth.
The US ISM Manufacturing PMI rose to 48.4 in November versus 46.5 in prior. This reading came in stronger than the market expectation of 47.5.
Atlanta Fed President Raphael Bostic said on Monday that he’s undecided on whether a rate cut is needed in the December meeting but still believes Fed officials should continue lowering rates over the coming months, per Bloomberg.
New York Fed President John Williams stated on Monday that the Fed officials will likely need to cut the interest rates further to move policy to a neutral stance now that risks to inflation and employment have become more balanced.
Fed Governor Christopher Waller noted that he was leaning toward supporting an interest rate cut at the December meeting amid expectations for inflation to continue to ease toward the Fed's 2% target.
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