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Global stocks lower
Asian shares hit one-month lows Tuesday, as a fresh batch of Chinese data added to the uncertainty from a looming U.S. rate hike. In Europe, equity markets traded lower as the negative lead set in Asia overnight dampened the mood. U.S. stock futures were also lower as prospects for higher interest rates and slowing global economic growth hit riskier assets.
China inflation slows
Inflation in China slowed again in October data on Monday showed, adding to signs of a slowdown in the world’s second largest economy. The consumer price index rose just 1.3% in October from a year earlier, slowing from 1.6% in September.
Fed speakers in focus
Chicago Fed head Charles Evans, who has historically been dovish, is due to take part in a panel discussion about the U.S. government’s debt.
IEA warns on oil prices
The International Energy Agency warned Tuesday that oil prices are set for a slow recovery. In its World Energy Outlook the IEA said OPEC’s unwillingness to reduce output could help usher in a sustained period of low prices.
U.S. dollar near 7-month peak
The dollar remained close to the highest levels since mid-April, supported by expectations for a December rate hike by the Fed.