China Deflation Deepens while US Markets Rally on Jobs Data
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China's consumer price index fell 0.5% year-on-year in November, faster than expected and the fastest pace since November 2020. Producer price index also declined more than forecast.
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Asia-Pacific markets set for mixed open on Monday following China inflation data; Australia's S&P/ASX 200 up while Hong Kong's Hang Seng futures point to a weaker open.
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All three major U.S. indexes rose on Friday, with the S&P 500 hitting a new high for the year, on positive jobs and inflation outlook data.
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U.S. crude oil prices rallied Friday but still booked a seventh straight week of losses, the longest losing streak in 5 years.
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U.S. economy added 199,000 jobs in November, unemployment rate fell to 3.7%, while University of Michigan consumer sentiment survey topped expectations.