Asian Shares Slip Ahead of Key Inflation Data and OPEC+ Meeting

Asian shares experienced a dip on Monday as investors awaited crucial inflation data from the United States and Europe later in the week.

The gold rose to a six-month high of $2,017.82 per ounce before moderating to $2,009 while Japan’s Nikkei eased by 0.3%, although it still maintained an 8.6% gain for November.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3%, boasting a monthly gain of 6.4%.

Meanwhile, Chinese blue chips lost 1.1%, representing a 2% downturn for the month.

Investors approach the month-end cautiously due to substantial gains recorded with markets like the S&P 500 that have been rallying for four consecutive weeks to post a 8.7% gain for November—its best performance since mid-2022.

Central banks, including the Federal Reserve, are closely watched for signals on future monetary policy.

The Fed’s preferred inflation measure, due Thursday, is expected to show a slowdown, reinforcing expectations of potential rate cuts.

The oil market faces uncertainty ahead of the OPEC+ meeting on Nov. 30, with discussions on production caps and potential extensions of voluntary cuts.

While European Central Bank President Christine Lagarde signals no rush to ease, the euro hovers near its recent four-month high against the dollar, which weakened against several major counterparts.

Oil prices experienced a brief dip in anticipation of OPEC+ decisions.

The week ahead is pivotal for financial markets, balancing inflation indicators, central bank messages, and crucial oil market decisions.