Asia markets set for gains ahead of key economic data

📆 11/2/2023 11:50 PM
📰 CNBC

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Services purchasing managers' index data from major economies including China, India and Hong Kong are set to be released throughout the day.

Markets found enough in this week's Federal Reserve meeting to suggest that there's only a small chance of any additional interest rate hike. The odds for a December increase fell Thursday morning to 14.

6%, according the CME Group's FedWatch Tool , which uses fed funds futures pricing to gauge probabilities. A month ago, the chances of a move in December were at 39%. Futures pricing, which can be volatile and swing quickly, now indicates that the first rate cut could come as soon as May. —Jeff Cox

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