*Even though the inflation in the Euro Area increased from 9.9% to 10.6% on an annual basis in October, it remained below the data market expectation of 10.7%. On a monthly basis, consumer inflation increased by 1.5%.

*Eurozone Core inflation increased in line with expectations.
-Core Consumer Price Index (CPI) (Annual) (Supplemented) Announced:5.0% Expected:5.0% Previous:4.8%
-Core Consumer Price Index (CPI) (MoM) (Added) Announced:0.6% Expected:0.6% Previous:1.0%

*British Finance Minister Jeremy Hunt said in his budget presentation to Parliament that his plans would overcome the cost of living crisis and rebuild the economy. Some details from the budget presentation are as follows;

– The rent increase in mass housing will be at most 7%.
We will increase the minimum wage by 9.7 percent. The hourly wage of the minimum wage will rise to £10.42.
It will increase the working age and disability benefits in line with inflation.
The increase in benefits will cost £11bn.
It will increase the pension loan by 10.1 percent.
-Announced additional tax on “surplus” profits of some electricity producers to help pay for a continued freeze in household energy bills.
*The British Pound weakened overall after British Finance Minister Jeremy Hunt presented the Autumn Budget to Parliament.

*According to the data coming from the US, unemployment benefits applications came in a similar way to the previous week, with 222,000 weekly, and there was no clear break. However, in the housing data for October, we see that contractions continue on a monthly basis.

*As another data from the USA, we followed the Philly FED’s Manufacturing, Employment and New Orders indices. There is a clear decline in all data and we see that the US economy is inevitably affected by interest rate hikes.

-USA – Philly FED Manufacturing Index: -19.4 (Previous: -8.7)
-USA – Philly FED Employment Index: 7.1 (Previous: 28.5)