The macro backdrop for traders: interest rates, inflation, employment data and central bank decisions, reported from the official releases and explained in terms of what they change for markets.
Goods prices rose 10.2% from a year earlier. The monthly gain was a little below forecasts, but the annual rate rose to its highest in almost four years ahead of the Fed's December meeting.
The Chicago Fed president told CNBC that inflation is "going the wrong way" and pointed to demand from the AI data center buildout. He did not say directly whether the Fed should move more aggressively, CNBC reported.
Project Meridian FX APAC tested a way to tie the two payments in a foreign exchange trade together across different settlement systems. The Bank of England plans a live interface in 2028.
A revised schedule published on Thursday drops the policy decision from the October 26–27 meeting and makes November 17 the last decision of 2027.
The ECB board member told European lawmakers the bank needs the legal framework to finish its preparations. A pilot with 36 payment providers is planned for the second half of 2027.
Speaking after the October CPI, the Fed's vice chair for supervision estimated core PCE inflation rose to 3.3% and stopped short of backing a December hike.
Speaking hours before the October CPI, the Fed governor said a 50 basis point increase should be considered if core inflation came in around 0.3% or higher. Core prices rose 0.3%.
Core prices rose 0.3% for a third month, and energy gains slowed after September's gasoline jump. Most October 2025 prices went uncollected during a funding lapse, so there is no all-items 12-month figure.
Euro-area finance ministers took stock of the nominations on November 9. Two more seats on the ECB's Executive Board are opening, and EU leaders may consider all three appointments together.
The ECB president said she wants the freedom to speak on matters beyond monetary policy. Two candidates to succeed her were put forward by the November 6 deadline.
The pause followed a September hike. On October 29, money markets priced about a two-in-three chance of a December increase, according to LSEG data cited by CNBC; Eurostat's flash estimate later put October inflation at 4.0%.
Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a quarter-point increase. The statement says inflation remains elevated.
Consumer prices rose 0.6% in a month, with gasoline accounting for more than half of the increase. Core inflation was 2.6% over 12 months.
August and September were revised up by a combined 84,000, and average hourly earnings rose 0.4% in the month.
