China will release its third-quarter gross domestic product, while Japan’s inflation data and South Korea’s rate decision are also expected this…
Asia-Pacific markets started the week on soft footing as investors look ahead to key economic data from China and Japan this week.
The People's Bank of China is also expected to announce the one-year medium-term lending facility rate Monday morning, with analysts estimating it will remain unchanged at 2.50%.Japan's September inflation data is expected on Friday, which will come ahead of the country's central bank's monetary policy meeting on Oct. 30 and 31.
December gold futures contracts closed 3.11% higher Friday, turning in the strongest one-day advance since Dec. 2022, and rising above their 50- and 200-day moving averages for the first since Sept. 20. Gold's weekly 5.22% gain was the most since mid-March, and left the precious metal 6.31% higher on the year.
Among soft commodities, orange juice closed at a record, with November futures rising 0.17% to $3.859 per pound, posting a sixth straight week of gains. Orange juice is higher by 90.25% in 2023.Consumer sentiment slumped in October while inflation expectations spiked, according to the University of Michigan's closely watched survey.
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