EUR/USD down 0.50% intraday at 1.1166.

US October CPI unexpectedly accelerated: headline CPI rose 0.4% MoM and core CPI (ex food and energy) rose 0.3% MoM. The Bureau of Labor Statistics did not publish a YoY inflation rate because data collection was disrupted during last year’s government shutdown. Two-year Treasury yields jumped after the release; the two-year is highly sensitive to shifts in Fed rate expectations. The print has pushed markets to price a higher probability of additional rate hikes next year.

Hong Kong equities: Hang Seng Index (HSI) closed Nov 10 up 108.09 pts (+0.44%) at 24,557.04; Hang Seng TECH Index +43.72 pts (+1.08%) at 4,084.45; Hang Seng China Enterprises Index (HSCEI) +5.66 pts (+0.07%) at 8,265.81; Hang Seng Red Chip Index +15.56 pts (+0.39%) at 4,033.47.