The Japanese yen (JPY) has strengthened following the release of Japan's Consumer Price Index (CPI) for October, which rose by 3.3% year-on-year, up from 3.0% in September. However, the core inflation, excluding food and energy, decreased to 4.0% year-on-year from the previous 4.2%.

The Governor of the Bank of Japan, Kaziuo Ueda, is uncertain about Japan achieving its 2.0% inflation target and acknowledges a waning economic recovery in Japan. He highlights the uncertainties associated with persistently high interest rates in several countries, which could undoubtedly impact the outlook.

The latest Composite PMI data for the United States in November remains unchanged at 50.7, with the Services PMI increasing to 50.8 from October's 50.6. Nevertheless, the Manufacturing PMI declined to 49.4 from 50.0.

This week holds crucial data for investors, such as Japan's retail trade, which might offer insights into consumer spending trends. Meanwhile, in the United States, investors are focused on the third-quarter Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) price index, a key inflation metric.

Source: Fxstreet