Morning Bid: China inflation eyed, global political uncertainty bubbling up
Attention turns to China on Monday and the release of November inflation data, with global investor sentiment broadly upbeat as the relentless rally on Wall Street continues but tempered by an increasingly volatile geopolitical backdrop.
The currency has weakened around 10% since the end of September, hitting a two-year low last week. A move through 1,445 won per dollar, which is eminently possible, will mark its weakest level since the global financial crisis in early 2009. Investors in Asia on Monday have their first opportunity to react to Friday's U.S. non-farm payrolls report which showed solid job growth but an uptick in the unemployment rate last month.
Producer prices, however, are expected to remain deep in deflationary territory with factory gate prices falling at an annual rate of 2.8% in November, little changed from October's 2.9% fall.
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