Federal Reserve (Fed) Governor Philip Jefferson spoke on Monday about the economic outlook and monetary policy at an event hosted by the Federal Reserve Bank of Kansas City. He said that they need to proceed slowly as monetary policy approaches the neutral rate.

United States Construction Spending (MoM) above forecasts (-0.1%) in August: Actual (0.2%)

Bank of England (BoE) member of the Monetary Policy Committee (MPC), Catherine Mann, spoke on inflation and wages on Monday. She claimed that the underlying inflation dynamic shows upside risk.

Canada Consumer Price Index - Core (MoM) unchanged at 0.3% in October

Canada BoC Consumer Price Index Core (MoM) climbed from previous 0.2% to 0.6% in October

Canada Consumer Price Index (MoM) in line with expectations (0.2%) in October

Canada Foreign Portfolio Investment in Canadian Securities rose from previous $25.92B to $31.32B in September

Canada BoC Consumer Price Index Core (YoY) rose from previous 2.8% to 2.9% in October

Canada Canadian Portfolio Investment in Foreign Securities up to $22.12B in September from previous $19.51B

Canada Consumer Price Index (YoY) above expectations (2.1%) in October: Actual (2.2%)

United States NY Empire State Manufacturing Index came in at 18.7, above expectations (6) in November

US Dollar (USD) appears to have entered a consolidation phase between 7.0900 and 7.1070. In the longer run, USD remains negative, and the next level to watch is 7.0885, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY is trading just below 155.00 after Japan’s Q3 GDP contracted less than expected and domestic demand held firm. Despite reduced market pricing for a December BOJ hike, rising fiscal support may raise the likelihood of policy tightening later this year, BBH FX analysts report.

TradingKey - Federal Reserve officials' intensifying divisions over future monetary policy will come under sharp focus with Wednesday's release of the October meeting minutes, as recent hawkish statem

US inflation is likely to fall next autumn. On Friday, the White House announced another initiative aimed at mitigating the impact of tariffs, adding a significant number of agricultural products to the list of exceptions not subject to reciprocal tariffs.

India Trade Deficit Government registered at $41.68B above expectations ($29.4B) in October

The S&P 500 is testing its 50-day moving average and lower channel boundary, with momentum indicators flashing warning signs. A move below the 6630 pivot would confirm a deeper pullback, after the index failed to retest its October high, Société Générale's FX analysts note.

It has been quite easy to lose track of the UK government's messaging regarding November's budget, ING's FX analyst Chris Turner notes.

DXY was a touch firmer this morning. Market narrative has shifted towards concerns of what the backlog of US data may reveal about the US economy but at the same time, there is also rising caution that Fed may slow pace of rate cuts.

In focus on a quiet Monday will be the European Commission's autumn forecasts. In spring, the EC downgraded the 2025 and 2026 euro area GDP forecasts to 0.9% and 1.4% respectively, with inflation at 2.5% and 1.7%.

Italy Consumer Price Index (YoY) in line with forecasts (1.2%) in October

Italy Consumer Price Index (MoM) in line with expectations (-0.3%) in October

Italy Consumer Price Index (EU Norm) (YoY) meets forecasts (1.3%) in October

Italy Consumer Price Index (EU Norm) (MoM) meets forecasts (-0.2%) in October

Turkey Budget Balance climbed from previous -309.6B to -223.2B in October

Switzerland Industrial Production (YoY) rose from previous -0.1% to 2.4% in 3Q

Switzerland Industrial Production (YoY) rose from previous -0.1% to 1.9% in 3Q

Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday, “underlying inflation rate remains below target, therefore we are maintaining an accomodative monetary policy.”

The EUR/CAD cross loses traction to around 1.6275 during the early European session on Monday. Nonetheless, the potential downside for the cross might be limited amid the cautious stance by the European Central Bank (ECB).

European Central Bank (ECB) policymaker told the Financial Times in an interview published on Monday, saying that the central bank could be forced to adjust monetary policy if a run on stablecoins were to send shockwaves through the economy.