China’s factory activity slipped back into contraction in November as momentum in production and domestic demand weakened, according to a private-sector survey released on Monday. The RatingDog China General Manufacturing PMI, compiled by S&P Global, eased to 49.9 from 50.6 in October, missing forecasts and falling just below the 50 threshold that separates expansion from […]

That’s nothing new but serves as another reminder again that they aren’t going to be doing anything as we approach the turn of the year. Just in case you needed another cue to be remembered of that. This article was written by Justin Low at investinglive.com.

Two focal points today, Bank of Japan Governor Ueda speaking and another PMI from China. The December (18-19) Bank of Japan meeting is very much ‘live’, a rate hike potential is there: investingLive Asia-Pacific FX news wrap: Upbeat data from Japan, sticky inflation too Tokyo inflation stays hot as yen weakens, pushing BOJ closer to

Prior 46.2 Key findings: Domestic demand strengthens, downturn in new export work eases Factory gate selling prices reduced for first time in over two years Comment: Rob Dobson, Director at S&P Global Market Intelligence “November saw further signs of recovery in the UK manufacturing sector. The headline PMI is back in growth territory for the

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

Optimism in the UK services sector fell at its fastest pace in three years in the three months to November, as persistent cost pressures squeezed profitability, according to the Confederation of British Industry. The CBI’s services optimism index slid to –50, down from –29 in August, while service volumes also weakened. The industry is unlikely

Australian Q3 business inventories -0.9% q/q, a bad miss expected 0%, prior +0.1% Company profits -1.3%q/q, ditto on the abd miss expected +1.7%, prior -2.6% Wages +1.5%q/q and sales +0.5%q/q) were better. — Separately, ANZ-Indeed Australian job ads index -0.8% m/m for its fifth consecutive monthly decline in November -6.3% y/y This article was written

There is arguably just one to take note of on the day, as highlighted in bold below. That being for EUR/USD at the 1.1600 level. The large expiries there could act as a bit more of a price magnet in locking price action before rolling off later in the day. In other words, it could

In case your trading body clock hasn’t adjusted yet, let this serve as a bit of a reminder. It may be the first week of a new month but it’s one of those rare occasions where we won’t see the US non-farm payrolls data get released. And we have the longest government shutdown in US

Bank of Japan Governor Kazuo Ueda said on Monday that while private consumption remains resilient, households are feeling the strain of higher prices, underscoring the need for the bank to monitor demand closely as it calibrates policy. Ueda noted that U.S. tariffs are squeezing manufacturers’ profits but said he does not expect the impact to

Indonesia’s central bank governor: Will bring rupiah to trade at 16,500 a dollar or even 16,400 next year, commit to stabilise the currency further Sees room to cut rate further, but just wait on timing and magnitude Bank Indonesia Governor Perry Warjiyo This article was written by Eamonn Sheridan at investinglive.com.

Australia’s Melbourne Institute inflation gauge rose 0.3% in November, matching the previous month, the annual measure edged up to 3.2% from 3.1% The core measure (trimmed mean) +0.3% m/m and +2.8% y/y (prior +2.6%) The data indicate domestic price pressures remain sticky, with underlying momentum still running above the Reserve Bank of Australia’s 2–3% target

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

Japan’s latest Ministry of Finance corporate survey showed a sharp slowdown in capital expenditure growth in the third quarter, even as company profits surged. Business spending rose 2.9% y/y, well below expectations of around 6% and down from 7.6% in Q2. Capex excluding software also increased 2.9%, missing forecasts and marking a clear deceleration. Corporate

ES and NQ, and other indexes, are little changed upon reopening for the new week. Oil is firmer. OPEC held over the weekend. This article was written by Eamonn Sheridan at investinglive.com.

New Zealand Building Consents -0.9% m/m prior +7.3% NZD/USD is little changed around 0.5725. Be careful of reading too much into the early pushing and shoving for FX at this time of the week: Monday morning open levels – indicative forex prices – 01 December 2025 This article was written by Eamonn Sheridan at investinglive.com.

Japan’s manufacturing sector remained in contraction in November, though the pace of decline slowed, according to the final S&P Global PMI released Monday. The headline index rose to 48.7, up from 48.2 in October broadly matching the flash estimate of 48.8. While still below the 50 mark separating growth from contraction, the reading marks the

As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online … prices are liable to swing around, so take care out there. Indicative rates only, barely any change from late Friday EUR/USD 1.1598 USD/JPY 156.13 GBP/USD 1.3237 USD/CHF 0.8037 USD/CAD 1.3979 AUD/USD 0.6546 NZD/USD

Sun: Opec-8 Meeting Mon: South Korean Prelim Trade Balance (Nov), Chinese RatingDog Manufacturing PMI Final (Nov), EZ/UK/US Manufacturing PMI Final (Nov), US ISM Manufacturing PMI (Nov), South Korean CPI (Nov) Tue: EZ Flash CPI (Nov), South Korean GDP Revised (Q3) Wed: Australian Real GDP (Q3), Chinese RatingDog Services/Composite PMI Final (Nov), EZ/UK/US Services/Composite PMI Final

Major US stock indices close higher and extend the winning streak to 5 days What are the key technical levels in play for the major currency pairs as the week closes? European indices close mostly higher on the day. Solid gains for the week. Ukraine’s Zelenskyy: Talks with the US are to happen in the

The major US stock indices closed higher for the 5th consecutive day. Despite the gains the NASDAQ is closing lower on the month for the 1st time since March (-1.51%). The S&P eked out a small gain of 0.13% for the month. The Dow industrial average rose 0.32% for the month. For the trading day:

In the video above, I take a look at the major currencies versus the US dollar from a technical perspective as the week comes to a close and traders look toward the new trading week. What is the bias, the risks and the targets for each?. Prepare for the new week, by understanding the key

DB Group Holding Limited, a UAE-headquartered financial services firm, announces a series of major developments across its fintech portfolio, including DB Investing, DB Pay, and the newly launched DBI Prime. Together, these advancements reflect the Group’s strategy to unify trading, payments, and institutional solutions under one agile, user-focused ecosystem. DB Investing: Smart Tools, Global Growth

Fundamental Overview Gold continues to slowly push upwards amid the higher December Fed rate cut odds. The recent US labour market data came in on the softer side, which should keep the upward momentum intact into the FOMC meeting. Looking ahead, everything will depend on the Fed’s forward guidance and the following NFP/CPI reports. A

The USD ins mixed to start the NA session with the USD higher vs the EUR and GBP and lower vs the JPY. IN the video above, I will take a look at the 3 majors – the EURUSD, USDJPY and GBPUSD – from a technical perspective and outline the key levels traders should be

European indices are closing with modest gains for the day but solid gains for the week. Today’s gains were led by Italy’s FTSE MIB with a gain of 0.32%. A snapshot of the closing levels shows: German DAX, +0.25% France’s CAC +0.29% UK’s FTSE 100 +0.27% Spain’s Ibex +0.06% Italy’s FTSE MIB +0.32% For the

Rate cuts by year-end Fed: 20 bps (79% probability of rate cut at the upcoming meeting) 2026: 93 bps ECB: 1 bps (97% probability of no change at the upcoming meeting) 2026: 8 bps BoE: 23 bps (94% probability of rate cut at the upcoming meeting) 2026: 64 bps BoC: 3 bps (84% probability of

Ukraine’s Zelenskyy says that the talks with the US are to happen in the near future. Earlier today, the UK’s telegraph reported: US president Trump has dispatched his peace envoy Steve Witkoff and son-in-law Jared Kushner with to make the direct offer to Russian Pres. Putin in Moscow The report said that Trump is to

Awful news from the US today: One of the two National Guard members shot in Washington on Wednesday has died The other is still fighting for his life. Trump with the news. — National Guard member Sarah Beckstrom has died of her injuries. Terrible, terrible news. Condolences to family and friends. This article was written

ECB’s the guard is on the wires saying: Interest rates are at the right level Optimistic about the situation in France. This article was written by Greg Michalowski at investinglive.com.

The USDCHF is experiencing choppy two-way price action today as buyers and sellers fight for control. On the topside, the rally stalled inside a key swing zone between 0.8066 and 0.8076. The high reached 0.8071 before rotating lower, reinforcing the importance of that resistance area. A break above it is required to shift momentum and

Prior -0.1% GDP Y/Y +0.6% vs +0.4% expected Prior +0.4% The final figures show an improvement but this is not going to change anything for the ECB as it’s more focused on inflation and has already stated many times that the current rate setting is appropriate. The agency said: “Domestic demand net of inventories and

The AUDUSD is breaking to a new high on the day with the price moving away from the 100 day MA at 0.65316 an above the ceiling for the week from yesterday’s high and the earlier high for the day near 0.6540. That has given the buyers the go-ahead to push higher iwth 0.6551 and

The major US indices are trading higher in the shortened trading day today. The major indices will close at 1 PM ET. The gains of modest with the S&P up 0.24%, the Dow industrial average up 0.29%, and the NASDAQ index up 0.32%. Each of the major indices have been higher for 4 consecutive days.

There aren’t any major expiries on the board for today, with the full list seen below. The dollar continues to keep steadier as we approach the final stretch of the week, with the Thanksgiving holiday sapping a lot of appetite from markets. There aren’t any major expiries to influence price action, so traders will be

Headlines: Dollar holds slightly firmer in final stretch of the week/month Gold Technical Analysis: Precious metals remain supported amid dovish Fed expectations How have interest rate expectations changed after this week’s events? ECB survey shows inflation expectations for the year ahead seen nudging up a little Bavaria November CPI +2.2% vs +2.2% y/y prior France

Market Overview and Sector Dynamics The U.S. stock market painted a mixed picture today, with notable gains in select technology and consumer cyclical stocks, alongside pockets of decline within key sectors. Overall sentiment remains cautious but optimistic, with investors digesting the latest economic indicators and earnings reports. 📈 Technology Sector: Mixed Results Google (GOOGL) Surges:

Prior +0.2% Import price index -1.4% y/y Prior -1.0% Excluding energy prices, German import prices were seen up 0.3% on the month and unchanged compared to October last year. As such, it reaffirms that the greatest impact on the overall development of import prices was again the decline in energy prices. Compared to October last

Trump: Will permanently pause migration from all third world countries Ongoing issues have halted trade at the CME for an extended time – futures not trading Westpac sees Australia’s Q3 GDP accelerating, led by strongest domestic demand since 2012 S&P cut Vanke to CCC-, flags deepening distress. New stage in Vanke’s rapid deterioration. Westpac: APRA’s

Prior +0.9% HICP +0.8% vs +1.0% y/y expected Prior +0.8% The figures are softer than estimated, so that at least helps to ease some of the concerns by the ECB that price pressures across the region remain stubborn. Again, it is mostly just Germany at this point. Looking at the details, food price inflation is

Professional trading isn’t just a quick morning routine. It involves hours of analysing charts, managing positions, and staying mentally sharp in a fast-moving environment. And while beginners often focus exclusively on a strategy, seasoned traders know that your workspace directly influences how well you think, react, and stay disciplined. Recent studies underline this more clearly

Prior +0.3% GDP Y/Y +0.9% vs +0.9 expected Prior +0.9% No changes to the preliminary figures. The agency said: “In Q3 2025, real GDP accelerated (+0.5% quarter on quarter after +0.3%). Household consumption continued to increase slightly (+0.1% after +0.1%): the decline in spending on food products (-1.0% after +1.5%) was more than offset by

Prior -1.6% (revised to -1.8%) GDP Q3 Q/Q +0.6% vs -0.4% prior (revised to -0.5%) GDP for September M/M +0.2% vs +0.2% expected Prior -0.3% (-0.1%) GPD for October preliminary -0.3% This is a huge surprise for Canadian GDP. The BoC projected +0.5%, so this blows it out of the water (although it was mainly

Prior +0.1% (revised to +0.2%) GDP Y/Y +0.5% vs +0.6% expected Prior +1.2% (revised to +1.3%) The agency said: “In the third quarter of 2025, Switzerland’s GDP adjusted for sporting events fell 0.5%, following 0.2% growth in the previous quarter. The negative result is largely down to the chemical and pharmaceutical industry, where strong exports

Prior +2.3% HICP +2.6% vs +2.4% y/y expected Prior +2.3% Core CPI Y/Y 2.7% vs 2.8% prior The headline figure is unchanged from the prior month which is what was expected after the unchanged state readings released earlier in the session. The ECB targets the HICP, which jumped to 2.6% from 2.3% in the prior

Prior +3.1% HICP +3.1% vs +2.9% y/y expected Prior +3.2% Headline annual inflation might have moderated slightly to 3.0% but core annual inflation is seen increasing marginally to 2.6% (previously 2.5%). So alongside Germany, this is one spot that is still a bit of a sticking point for the ECB in trying to work towards

Trump: Will permanently pause migration from all third world countries to allow U.S. system to fully recover. I will end all federal benefits and subsidies to noncitizens of our country This is in response to the shooting in Washington of two National Guard members. US news: One of the two National Guard members shot in

Canada GDP came in much stronger 2.6% versus 0.5% expected. According to StatCan “the rise in the third quarter was driven by a strengthening trade balance, as imports dropped and exports edged up. Increased capital investment was driven by government capital spending, as business investment was flat. Overall growth was dampened by declines in household

Prior +0.2%; revised to +0.3% That’s another highly disappointing reading for German retail sales. Food sales were notably up on the month at least (+1.2%) but it’s not enough to offset the drop in non-food store sales (-0.7%) and online/mail-order sales (-0.6%). Just take note though that Destatis mentions that: “For the reporting month of

Germany remains the major sticking point for the ECB in trying to ease monetary policy further going into the turn of the year. Core annual inflation was seen at 2.8% in October, being one of the higher ones and arguably the most relevant one considering that Germany is Europe’s largest economy. For November, headline annual

Australia’s economy is poised to show a solid pick-up in momentum through the September quarter, according to Westpac, which expects next week’s National Accounts (due on December 3) to confirm a stronger and more synchronised recovery across key parts of the economy. The bank is forecasting Q3 GDP growth of 0.8% quarter-on-quarter, lifting annual growth

Goldman Sachs economists warn that worsening political frictions between Japan and China could deliver a measurable drag on Japan’s economy by hitting tourism flows and demand for consumer goods. The bank estimates that a meaningful decline in visitors from mainland China and Hong Kong—Japan’s most valuable inbound tourism segment—could shave around 0.2 percentage point off

Prior -1k Unemployment rate 6.3% vs 6.3% expected Prior 6.3% German unemployment rose by less than expected in November with the jobless rate continuing to hold steady at 6.3%. That said, the labour office noted that the number of people in employment was stagnating and demand for labour remains subdued for the most part. This

Considering the timing and circumstance, I wouldn’t read too much into the moves we’re seeing today. Not only is it month-end but also liquidity conditions are more sapped amid the Thanksgiving holiday break. Sure, US markets are open for a half-day today but it doesn’t take away from the fact that most flows will have

The other state releases around the same time: North Rhine Westphalia CPI +2.3% vs +2.3% y/y prior Saxony CPI +2.2% vs +2.2% y/y prior Baden Wuerttemberg CPI +2.3% vs +2.3% y/y prior The readings here are all unchanged from the previous month, which points to the national reading later likely to come in similar to

A word of warning from Beijing: “We hope Malaysia will fully consider and properly handle this matter in light of its long-term national interests.” For some context, this relates to the headline from yesterday here and this is all related to the rare earth minerals deal signed between Malaysia and the US amid Trump’s visit

Prior 101.3; revised to 101.5 This marks just a marginal improvement in Swiss economic conditions, with at least some brighter prospects now surrounding the export outlook. That being said, there is still nothing to shift the agenda for the SNB as they sit on the cusp of negative interest rates. This article was written by

German DAX futures +0.1% UK FTSE futures flat This follows the more tepid showing yesterday, with investors keeping rather disinterested as Wall Street remains out of commission amid the Thanksgiving break. US markets will open for a half-day later but don’t expect too much given that most market players would still be out until next

Prior +1.2% HICP +1.1% vs +1.3% y/y expected Prior +1.3% Slight delay in the release by the source. Core annual inflation is down from 1.9% in October to 1.8% in November. So, that’s the key metric to be mindful of. So, the main issue for the ECB is still that of Germany mostly (and Spain

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

Inflation perceptions over the previous 12 months seen at 3.1% (unchanged) Inflation expectations 12 months ahead seen at 2.8% (previously 2.7%) The qualitative measure continues to show an increase in the percentage of number of respondents expecting inflation to be higher in the next 12 months, now seen at 85.6% (previously 85.2%). As for the

China Vanke’s onshore bonds tumbled to fresh record lows on Friday, deepening concerns over the health of one of the country’s last remaining investment-grade property developers. The selloff came after Vanke sought to delay repayment on an onshore bond for the first time, a major red flag for a company long considered one of the

Tokyo area November inflation data, the core measures higher than headline. Tokyo Consumer Price Index (YoY) (Nov) 2.7% expected 2.7%, prior 2.8% Tokyo CPI ex Food, Energy (YoY) (Nov) 2.8% … higher than expected and the same as in October expected 2.7%, prior 2.8% Tokyo CPI ex Fresh Food (YoY) (Nov) 2.8%, ditto, higher than

Eurostoxx -0.1% Germany DAX -0.1% France CAC 40 flat UK FTSE +0.1% Spain IBEX flat Italy FTSE MIB -0.1% There’s not much in it really as market players seem content to ride out the remainder of the week and November in waiting on Wall Street to fully return on Monday next week. As a reminder,

Usually, gross generalisations are unreliable, but there is one all-encompassing statement that holds true. Investors want to make the highest return with the lowest amount of market exposure. When markets are moving in a beneficial direction and in a predictable way, the probability of that outcome increases exponentially. But what happens when markets are cooling?

Westpac says Australia’s banking regulator’s new cap on high debt-to-income mortgage lending is a pre-emptive attempt to cool emerging risks in the housing market, but adds that the measure is unlikely to bind across the system — even if it squeezes certain borrowers at the margin. APRA (Australian Prudential Regulation Authority, the national regulator responsible

In the European session, the highlights will be the inflation data from the major Eurozone economies. We have in order France, Spain, Italy and Germany. The data shouldn’t change anything for the ECB at the moment, but big deviations could still be market-moving. In the American session, we just have the Canadian GDP. The BoC

S&P Global Ratings has cautioned that the UK’s public finances remain under considerable strain, despite the revenue-raising steps outlined in the Autumn 2025 Budget. The agency said structural spending pressures and muted growth mean fiscal stress is likely to persist through the medium term. S&P described the UK’s fiscal position as “vulnerable,” calling it one

There have been no trades on S&P 500 futures, Nasdaq 100 futures since 0344 GMT according to LSEG data. Trading halts began before that though. CME’s website reports that CME Globex futures & options markets halted due to a technical issue. Apparebntly it’s a cooling issue at Cyrusone data centres. This article was written by

I’ve mentioned for a while now that gold has been trading within a flag/wedge pattern recently and the next trending move is likely to come from a break of that. And today, we’re starting to see buyers take some action in a push up to test waters above the technical pennant as seen below: So,

Japan’s latest round of economic data is reinforcing expectations that the Bank of Japan may resume its rate-hike cycle in the coming months, as inflation in Tokyo holds well above target and factory output shows a brief uptick before an expected slowdown. Tokyo core CPI, a leading gauge of nationwide price trends, rose 2.8% in

S&P Global has downgraded China Vanke to CCC- from CCC, warning that the developer’s plan to seek maturity extensions on its onshore debt indicates heightened liquidity stress. The rating has been placed on CreditWatch Negative, signalling further cuts are possible. The move follows the collapse in Vanke’s yuan bonds — including the 2027 note that

This data release is from the Reserve Bank of Australia: Housing credit strong, as usual, but business credit rising more strongly. Inflation data from Australia will keep the RBA on hold for a good while. The prospect of a rate rise being the next change cannot be ruled out. NAB’s Auld: RBA may need to

Belgium’s prime minister has warned that the European Union’s push to tap frozen Russian state assets for Ukraine risks undermining future peace efforts, according to the Financial Times. In brief: PM Bart De Wever raised the concern in a letter to Commission chief von der Leyen. EU leaders failed last month to get Belgium’s backing

Data from South Korea show a mixed picture: industrial output slumped sharply in October even as retail sales rose and service-sector output held up. According to the national statistics office, industrial production in October fell 8.1% year-on-year and 4.0% month-on-month (seasonally adjusted). By contrast, retail sales rose 3.5% month-on-month, while service-sector output slipped modestly by

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

Japan October retail sales +1.7% y/y (expected +0.8%) more to come This article was written by Eamonn Sheridan at investinglive.com.

A shift in market leadership may be forming as Federal Reserve rate cuts begin to restore liquidity, according to two ETF industry executives who see early signs of rotation away from AI-heavy megacaps. CNBC conveyed the opinions. Astoria Portfolio Advisors founder John Davi said a series of Fed cuts typically marks “the beginning of a

Japan October industrial production (preliminary) for October 2025. +1.7% y/y expected +0.8%, prior +0.2% +1.4% m/m expected -0.6%, prior +2.6% Japan’s industrial sector delivered a firmer-than-expected performance in October, with factory output rising 1.4% from the previous month, according to government data released on Friday. Despite the upside surprise, manufacturers remain cautious about the near-term

Jobs data from Japan for October 2025, the labour market there remains tight. Unemployment Rate 2.6% expected 2.5%, prior 2.6% Jobs / Applicants Ratio 1.18 expected 1.2, prior 1.2 Most focus is on the CPI data, from the Tokyo area for November. This article was written by Eamonn Sheridan at investinglive.com.

For those not celebrating Thanksgiving, and for those who are but just can’t stayaway from markets (can relate!), it’s a heavy data day from Japan. The focus is on the CPI from Tokyo (more on this below). The Bank of Japan next meet on December 18 and 19. Developments in inflation data will be keenly

ANZ-Roy Morgan consumer confidence in NZ for November 2025. Up 6.5% m/m to 98.4, its highest level since June: in October the index fell 2.3% to 92.4 ANZ express a concern: The proportion of households thinking it’s a good time to buy a major household item (the best retail indicator) rose 5 points but is

I expect slack to increase It’s encouraging that services inflation is coming down Evidence on wage growth is also encouraging BoE projection is benign Inflation has stabilised My concern is around second-round effects Business inflation expectations are elevated and rising Preliminary results from BoE agents’ survey point to pay settlements of around 3.5%, maybe due

Fundamental Overview The USD weakened across the board recently following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position. The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut last Friday. The probability for a December cut is now

HSBC expects OpenAI to remain unprofitable until at least 2030, warning that the company will need an additional US$207 billion to fund its rapidly expanding compute footprint. While the bank analysts project OpenAI’s revenue could exceed US$213 billion by the end of the decade, it argues that infrastructure demands will vastly outpace cash generation. HSBC

Fundamental Overview The USD weakened across the board recently following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position. The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut last Friday. The probability for a December cut is now

Headlines: Reminder: Thanksgiving holiday to sap the appetite from markets today Gold continues to keep within technical pennant for now USD/JPY Technical Analysis: Weakness in both currencies leads to choppy price action ECB meeting accounts note that present uncertainty justifies keeping rates unchanged ECB’s Kazaks: Time is not ripe to discuss a rate cut BOJ’s

Economic confidence 97.0 vs 97.0 expected Prior 96.8 Industrial confidence -9.3 vs -8.0 expected Prior -8.2 Services confidence 5.7 vs 4.4 expected Prior 4.0 Slight delay in the release by the source. Economic sentiment nudged up slightly on the month amid a mixed backdrop, with services sentiment seen improving while industrial sentiment slumped a fair

The RBNZ’s 25-basis-point cut yesterday — paired with guidance that rates will likely remain steady for an extended period — gave buyers the green light. The NZDUSD responded with a strong 1.4% gain, the biggest mover on the day. Today, the pair tacked on another 0.30% at the highs, making it the top performer for

Bank of Japan board member Asahi Noguchi said the central bank would begin to gradually dial back monetary accommodation if economic activity and prices continue to evolve in line with the BoJ’s current outlook. Speaking on Wednesday, he stressed that achieving “sustainable and stable” inflation requires a steady expansion in demand and a sustained rise

The major US stock indices are closing higher led by the NASDAQ index with a gain of 0.82%. Looking at the closing levels: Dow industrial average is up 314.67 points or 0.67% at 47427.12 S&P index is up 46.73 points or 0.69% at 6812.61 NASDAQ index is up 189.10 points or 0.82% at 23214.69. The

There are no final versions to the peace plan We agree that Trumpìs Ukraine plain can be used as a basis for future agreements We need to discuss some things Russia does not plan to attack Europe, this is ridiculous We are ready to discuss European security We are also ready to discuss strategic stability

Fitch Ratings warned that Japan’s new stimulus package could add fiscal risks if it leads to a sustained loosening of policy and pushes government debt higher. While the package is large — roughly 3.4% of GDP — Fitch said its true fiscal impact is unclear because some measures are non-fiscal, spread over multiple years, or

AustralianQ3 Private Capital Expenditure Building capex rose 2.1% q/q (previous +0.2%). Plant and machinery capex jumped 11.5% q/q (previous +0.3%) takes this to a record high for spending on machinery and equipment New capital expenditure increased 6.4% q/q (forecast 0.5%, previous 0.2%) 6.4% is the highest since 2012 Australian Bureau of Statistics says its due

Some backdrop on the matter: Trump’s visit to Malaysia looks to be a twofold one Malaysia clarifies that it still maintains ban on raw rare earths export despite US deal With Malaysia housing the largest rare earth processing facility outside of China, it’s a big deal in terms of who is able to get the

Likely to agree on mechanism to assess members’ maximum production capacity This was already expected, so not really new information. We got a brief and small spike which faded quickly. This article was written by Giuseppe Dellamotta at investinglive.com.

Bank of Korea leaves its base rate on hold at 2.5% as widely expected BoK expects 2025 GDP growth at 1.0%. BoK expects 2025 inflation at 2.1%. BoK expects 2026 GDP growth at 1.8%. BoK expects 2027 GDP growth at 1.9%. BoK expects 2026 inflation at 2.1%. BoK expects 2027 inflation at 2.0%. This article

Prior was -21.16 billion (revised to -21.56 billion) From the agency: “The decrease in the current account deficit in the third quarter was largely due to a narrowing of the trade in goods deficit, as exports increased in the quarter while imports decreased. The investment income and trade in services components also contributed to the

People realise UK public finances are under pressure I do not accept that we are raising taxes to fund welfare Well, she can be more bold today as markets have given her some degree of confidence in terms of the initial reaction to the budget yesterday. The pound is sitting higher while the bond vigilantes

Industrial sales Y/Y +3.4% vs -0.1% prior Full report here This is a very volatile indicator and not a market-moving release. From the agency: In September 2025, estimates for the seasonally adjusted turnover industrial index increased by 2.1% in value (+3.0% in volume) when compared to the previous month (+1.5% in value and +2.7% in

Prior +2.8% This article was written by Justin Low at investinglive.com.

more to come This article was written by Eamonn Sheridan at investinglive.com.

Assessment of inflation outlook was broadly unchanged The view was expressed that the rate-cutting cycle had come to an end That since the current favourable outlook was likely to be maintained unless risks materialised Taking a steady hand approach could increase the chances of remaining in a good place From a strategic standpoint, monetary policy

Canadian Prime Minister Mark Carney will travel to Washington next week for the 2026 World Cup draw, where he expects to meet U.S. President Donald Trump. Carney said the pair spoke briefly on Tuesday, but noted that trade negotiations remain stalled. Talks were halted last month after Ontario aired an advertisement featuring former President Ronald

If yen fall accelerates, companies may pass on higher costs down the chain Food price inflation expected to moderate but timing could be delayed if yen weakens further Underlying inflation is yet to reach 2% Pace of future rate hikes will depend on incoming data BOJ policy adjustment has been, and will remain, very cautious

I would focus on 2026, 2027 inflation projections Downside risks to inflation are better known but we shouldn’t discount upside Delay to ETS2 emissions trading system would flatten inflation but we should also look at core Same old from Kazaks as he keeps his neutral stance. The ECB members have repeated many times that they

The Bank of Japan’s dovish board member Asahi Noguchi declined to reinforce growing market speculation over a December rate hike, instead taking a neutral stance and underscoring the importance of adjusting policy only at the right time. Earlier post, recapping now: BoJ’s Noguchi: Policy easing to fade only if wage gains sustain inflation momentum While

Prior -24.1 German consumer morale picked up a little heading into the holidays with GfK noting that “consumer sentiment is currently at almost exactly the same level as last year”. Adding that while it does “show a certain stability in consumer sentiment”, the flip side is that “it shows that consumers do not expect a

FT: China aims to replace foreign imports with its own tech and dominate exports Fitch warns Japan’s new stimulus could add fiscal risk to its A/Stable rating Recap – BoJ’s Noguchi tempers December hike bets, urges measured, step-by-step tightening Wood Mackenzie: China nearing peak oil demand as growth drops toward zero by 2027 AMD Technical

Prior 88.3 Consumer confidence 95.0 vs 97.6 expected Prior 97.6 Full report here This is not a market-moving release. From the agency: In November 2025, the consumer confidence index decreased from 97.6 to 95.0. New negative hints affected all its components: the future climate sunk from 94.1 to 90.2, the personal one worsened from 97.0

The precious metal may be up a little over 2% on the week thus far but the technical picture remains the same. The move higher yesterday saw gold touch a high of $4,173 before falling back slightly now to $4,157 on the day. On the daily chart, it is still clear that price action is

Two National Guardsmen were shot near the White House in downtown Washington, prompting a swift security response. One suspect is in custody, and police say the scene is now secure. The incident, reported around 2:20 p.m. ET at the Farragut West Metro station entrance, led to a White House lockdown. President Trump, currently in Florida

The closer we get towards achieving price target, will see increased upside risk to inflation Various indicators measuring underlying inflation are very slowly approaching our target Given rising prices, the desirable policy mix is no longer as straightforward and simple as expanding fiscal stimulus and loosening monetary policy Sees no gap in the view from

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

Eurostoxx +0.2% Germany DAX +0.5% France CAC 40 +0.1% UK FTSE flat Spain IBEX +0.2% Italy FTSE MIB +0.3% Turkey day closure for Wall Street? No problem. The risk rebound this week continues to gather pace for the most part. We don’t have much to work with this session or for the day even, but

Wood Mackenzie expects China’s oil demand growth to slow sharply over the next few years, approaching zero by 2027 as the country nears peak consumption. Senior analyst Alan Gelder said gasoline and diesel demand are already in decline, with only modest growth remaining in jet fuel — and even that driven mainly by petrochemicals rather

The Reserve Bank of Australia may need to raise interest rates as early as the first half of 2026 if growth accelerates and labour-market conditions tighten further, according to National Australia Bank chief economist Sally Auld. Australia’s soft landing has placed the RBA in a unique position among global central banks economy already at full

In the European session, we will get just a few low tier releases like the Italian and Eurozone business confidence that won’t change anything for the ECB or the market. We will also have the ECB meeting minutes but that’s almost never a market-moving release. In the American session, we have the US on holiday

The price of bitcoin has been under pressure since reaching the last peak on October 27 near $116,381. Since then the price has moved down to a low price of $80,533 – reaching that level on November 21. The move back to the upside extended up to $89,222 on Monday’s trade and the price has

China’s industrial profits remained positive over the first ten months of the year, rising 1.9% from a year earlier, according to data from the National Bureau of Statistics. The January–October increase marked a slowdown from the 3.2% gain recorded in the January–September period, signalling some loss of momentum as weak domestic demand and uneven manufacturing

German DAX futures flat UK FTSE futures -0.1% This follows up from the stronger gains yesterday in matching up with Wall Street before the Thanksgiving holiday. But with the break in the US hitting, that is likely to sap overall risk sentiment across broader markets today as well. So, that’s leading to the more tepid

Bank of Korea Governor Rhee Chang-yong said Thursday’s policy decision was not unanimous, revealing that board member Shin Sung-hwan dissented. Shin argued domestic demand remains too weak to justify the board’s majority position. Rhee noted that three other board members indicated they were open to a near-term rate cut, highlighting a more divided committee as

Reserve Bank of New Zealand Governor Christian Hawkesby said further interest-rate cuts now face a “high hurdle,” signalling that the easing cycle is effectively finished. Bloomberg report on Hawkesby speaking an interview today after yesterday’s rate cut: investingLive Asia-Pacific FX news wrap: AUD up (high CPI), NZD up (rate cut), JPY up (BoJ) He said

JPMorgan says the S&P 500 could push toward 8,000 by 2026 if the Federal Reserve delivers more rate cuts than markets currently anticipate. In its new Global Equity Outlook, the bank sees the index reaching around 7,500 under its base case, supported by strong earnings momentum, lower policy rates and easing macro pressures. The U.S.

Reserve Bank of New Zealand Governor Christian Hawkesby said the central bank is now more confident that monetary policy has shifted firmly into stimulatory territory after a series of substantial cash-rate cuts. Speaking on Thursday, NZ time, he suggested the economic recovery could come through “faster and stronger” than previously expected, while acknowledging the downside

The Wall Street Journal reports that President Trump privately urged Japan’s Prime Minister Sanae Takaichi to soften her rhetoric toward China after she came out forcefully on Taiwan. According to people familiar with the call, Trump encouraged Takaichi to “lower the tone” in order to avoid inflaming tensions with President Xi Jinping at a delicate

It’s been a positive week for risk trades in general and that will see off investors into the Thanksgiving holiday break which starts today. The holiday typically stretches through to the weekend with US economic data releases also absent from the calendar, after having been pushed forward to yesterday. As a reminder, both the US

There is arguably just one to take note of on the day, as highlighted in bold below. That being for EUR/USD at the 1.1575 level. It doesn’t tie to any technical significance and amid the lack of trading appetite with the Thanksgiving holidays, I wouldn’t ascribe much impact to the expiries. We might just see

China is rapidly narrowing the space for foreign companies to trade with it, pursuing a model in which self-reliance overrides openness. As the FT argues, Beijing increasingly sees no imported product it cannot eventually redesign, produce more cheaply and control domestically. The country remains a major buyer of semiconductors, software, large commercial aircraft and advanced

Crude oil futures settled at $58.65, rising $0.70 (+1.21%) on the session. Price action was contained within a $57.66 low and a $58.69 high, keeping the market choppy but constructive through the day. On the hourly chart, the rebound lifted crude back above the 100-hour moving average at $58.24, a short-term positive that helped stabilize

New Zealand November business confidence 67.1%, the highest in 11 years prior 58.1% Business activity 53.1% prior 44.6% New Zealand posting solid numbers yet again. — Earlier: RBNZ’s Hawkesby says policy now stimulatory but warns on global independence risks New Zealand Q3 retail sales show huge jump, much improved from Q2 The news from yesterday

AMD closed at 214.24 USD, gaining +3.93% for the day. The daily chart (as of the November 26 close) shows bulls defending a key support area after a deep correction. Below is the technical read based on the chart in today’s video. AMD Stock Technical Analysis Video Made Simple & Effective 1. The Trend Line

Bank of America has turned more cautious on U.S. equities, predicting only modest gains for the S&P 500 through 2026. The bank sees the index rising to around 7,100, roughly a 5% increase, as stretched valuations are likely to compress even as earnings continue to grow. BofA expects profits to rise about 14% but notes

For the second half of last week, I was in Singapore attending the FIX Southeast Asia Multi-Asset Trading Conference 2025. It was a fairly engrossing event with plenty of interesting topics being shared and discussed throughout. The conference started on time, more or less as these thing usually go, with a breakfast session for attendees

JPMorgan has reversed its stance on U.S. monetary policy and now expects the Federal Reserve to cut interest rates at the December meeting. Chief US economist Michael Feroli said recent remarks from senior Fed officials, especially New York Fed President John Williams, point clearly toward a near-term easing move. The bank had previously forecast no

Soaring NZ retail sales for Q3 2025. New Zealand Retail Sales +1.9% q/q expected +0.6%, prior +0.5% New Zealand Retail Sales Quarterly vs. Year Ago +4.5% prior +2.3% Signs of a New Zealand economy getting off the canvas has been welcomed by the Reserve Bank of New Zealand. The Bank pushed the door shut on

Japan is preparing to significantly expand short-tenor bond issuance to help fund its latest economic stimulus package, according to officials speaking to Reuters. The government plans to boost issuance of two- and five-year Japanese government bonds (JGBs), lifting total scheduled JGB sales for the fiscal year through March by roughly ¥7 trillion from the current

Deutsche Bank has lifted its 2026 gold forecast, citing a rare alignment of structural and technical forces that continue to push the metal beyond historical patterns. The bank now expects gold to reach US$4,450/oz in 2026, up from its previous US$4,000/oz projection, and sees the trading range widening to US$3,950–4,950/oz. Analysts said gold’s performance is

Reported headlines from the report. Economic activity was little changed since the previous report, according to most of the twelve Federal Reserve districts, though two districts noted a modest decline and one reported modest growth. Some contacts noted an increased risk of slower activity in coming months, while some optimism was noted among manufacturers. Wages

Major US indices close higher for the 4th consecutive day Carney to meet Trump at World Cup draw as Canada-U.S. trade talks remain frozen RBNZ Hawkesby: We are in a position where we can sort of watch and see how things progress NZ Finance minister names Rodger Finlay chair of the RBNZ Two military personnel

New Zealand’s finance minister announces that Roger Finley has been appointed the chair of the RBNZ Finlay joined the RBNZ Board on 1 July 2022 under the bank’s new governance model. He brings extensive governance experience. Previously he was chair of several major public and private entities, including New Zealand Post (NZ Post), PGG Wrightson,

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

RBNZ Gov. Hawkesby is on the wires saying: We think we are in a position where we can put out an OCR projection, which is broadly unchanged We are in a position where we can sort of watch and see how things progress over the course of next year. There are a number of labor

Both NZD and AUD were swung around by events in Asia yesterday, the Kiwi from the RBNZ rate cut and the Aussie by surging inflation: investingLive Asia-Pacific FX news wrap: AUD up (high CPI), NZD up (rate cut), JPY up (BoJ) The data from NZ and Oz won’t impact as much, but I’ll keep an

The AUDUSD is stretching to a new high and in the process has moved above the 100 and 200 bar MAs on the 4-hour chart between 0.64983 and 0.6509. That is now close support for traders. The price is testing a swing area between 0.6514 and 0.6518 at the highs and need to break above

Baker Hughes oil rig count fell sharply by -12 to 407. Natural gas rigs rose 3 to 130 Total rigs fell -10 t0 544, It makes you wonder if the lower prices are taking some of the marginal oil rigs offline. This article was written by Greg Michalowski at investinglive.com.

Re the Singapore dollar, supported by growing expectations of Federal Reserve rate cuts, which would make U.S. fixed-income assets less attractive and ease demand for the greenback. MUFG Bank said market sentiment has tilted toward risk-on, helped by rising confidence that the Fed could cut rates as early as December. San Francisco Fed President Mary

Headlines: UK OBR publishes fiscal outlook and forecasts earlier than expected, before the budget Sterling slides back down after OBR published fiscal forecasts ahead of the budget UK OBR says technical error resulted in forecasts being put up too early UK chancellor Reeves: There will be no return to austerity Japan prime minister Takaichi says

US stocks are trading at new highs US October budget deficit $284 billion versus estimate of $235.05 billion White House correspondent: US Treasury Secretary has not finished the interviews U.S. Treasury sells $70 billion of 5 year notes at a high yield of 3.562% Trump: Thinks we are getting very close to deal on Ukraine

The Atlanta Fed GDPNow guesstimate for 3Q growth failed to 3.9% from 4.0% just yesterday. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2025 is 3.9 percent on November 26, down from 4.0 percent on November 25. After this morning’s advance durable

Blueberry, the global online trading platform, is thrilled to announce a long-term partnership with the Bonds Flying Roos, the Australia SailGP Team and three-time SailGP Champions, becoming the team’s Official Online Trading Partner. The Rolex SailGP Championship is the world’s most exciting racing league, featuring 12 national teams competing on identical high-speed F50 foiling catamarans

The Freddie Mac says that the 30 year average mortgage rate fell to 6.23% from 6.26% last week. The recent lows going back to October 2022 is at 6.09%. The low price on this last cycle to the downside has taken the rate down to 6.19%. This article was written by Greg Michalowski at investinglive.com.

Says his team has made “tremendous progress” toward ending the Russia–Ukraine war. Claims the war “would have never started” if he had been president. Notes that 25,000 soldiers died last month, underscoring urgency. States the original 28-Point Peace Plan has been refined with input from both sides, leaving only a few unresolved issues. Directs Special

Crude oil inventories build of 2.774 million versus 0.055 million estimate Distillates inventories build of 1.147 million versus 0.556 million estimate Gasoline inventories build of 2.513 million versus 0.745 million estimate Refining utilization 2.3% versus expected 0.8%. Prior was 0.6% Crude oil production 13.814 million barrels versus previous 13.834 million barrels Crude production change -20

The U.S. Treasury will complete the coupon auctions for the week with the sale of 7 year notes at the bottom of the hour ($44 billion). The auction is a little early ahead of the Thanksgiving day holiday. Despite the early auction, the bond market will remain open for the rest of the trading day.

Tech Sector Rallies as Nvidia Leads, Google Stumbles The US stock market saw a notable shift today, with the technology sector dominating the headlines. As the trading day unfolded, Nvidia emerged as a star performer, while Google faced some challenges, setting the stage for an intriguing day in the market. 📈 Technology Sector: Nvidia Lights

The major European indices are closing higher on the day. The gains were led by the Spain’s Ibex which increase by 1.36%. A snapshot of the closing levels shows: German DAX, +0.98% France’s CAC +0.88% UK’s FTSE 100 +0.5% Spain’s Ibex +1.36% Italy’s FTSE MIB +1.01% As London/European traders head for the exits, the major

Financial Times with the news: This article was written by Eamonn Sheridan at investinglive.com.

The major US stock indices are set open higher with the S&P index up 21.5 points or 0.32%. The Dow industrial average up 117 points or 0.25%, and the NASDAQ index implying a gain of 119 points or 0.48%. Looking some of the big movers from yesterday is generally showing mixed moves Meta shares rose

New Zealand’s central bank cut the official cash rate by 25 basis points to 2.25%, the lowest since mid-2022, but signalled the easing cycle is effectively over as early signs of recovery emerge. The move matched expectations, yet the tone of the statement was more cautious than markets anticipated, prompting traders to sharply scale back

The Bank of Japan is signalling more clearly that a near-term rate hike is back on the table, with officials reviving hawkish language as the yen weakens and political resistance to tightening fades. Sources familiar with the bank’s thinking told Reuters that the BOJ has intentionally shifted messaging in recent days to highlight the inflationary

Trump on Ukraine: We are making progress Ukraine is happy Europe will be largely involved in security guarantees Initial 28 point plan was just a map Witkoff will be meeting with Putin in Moscow next week Russians are making concessions No deadline for reaching deal — The prospect of a peace deal has been cited

The USD is mixed with the EUR (+0.09%) and the GBP (-0.09%) little changed vs the greenback and the USD higher vs the JPY by 0.27% despite expectations leaning toward a BOJ hike again as a result of the weak JPY. In the video above, I take a look at each of those currency pairs

The major US stock indices are trading near highs. Each of the indices are up 0.70% to 0.80% (give or take). Dow industrial average +0.70% S&P index +0.72% NASDAQ index +0.80% For the trading week: Dow industrial average +2.57% S&P index up 3.22% NASDAQ index up 4.23% Nvidia is rebounding 1.67% and back above $180

High yield 3.781% WI level at the time of the auction 3.775% Tail 0.6 basis points versus 6 month average of -0.6 basis points Bid to cover 2.46X vs 6 month average of 2.56X Dealers 9.44% versus 6 month average of 9.2% Directs 30.27% versus 6 month average of 23.5% Indirects 56.65% versus 6 month

Easy come, easy go. The OBR has just done the impossible and unprecedented in basically just breaking the release of the entire (more or less) Autumn Budget. It’s enough to get markets moving with UK chancellor Reeves set to announce £26 billion in tax hikes which will leave her with around £22 billion worth of

ECB Lane is on the newswire saying: For sustainability of inflation at 2%, needs to see deceleration of energy prices This article was written by Greg Michalowski at investinglive.com.

OB release of forecasts is deeply disappointing, serious error There will be no return to austerity This budget will bring down inflation Borrowing will fall as a share of GDP in every forecast year OBR forecasts show more than doubled fiscal headroom of £21.7 billion This article was written by Justin Low at investinglive.com.

Crude oil futures are settling at $57.95. That is down $0.89 or -1.51%. The low price reached $57.10. The high price was at $58.96. Looking at the hourly chart, the price fell below a floor level near $57.39. Getting below that level should be more bearish, but sellers turned to buyers on the break back

Prior 220K (revised to 222K) Continuing claims 1960K vs 1969K expected Prior 1974K (revised to 1953K) Jobless claims continue to point to a “low firing, low hiring” labour market. The data is not going to change anything for the Fed at this point though with the probabilities for a December cut now standing around 79%.

The USDCAD fell yesterday after stalling at its rising 100-hour moving average, and an early-Asia bounce today failed beneath the 1.4105 swing area. That inability to extend higher invited sellers back in, pushing the pair below the 100-hour moving average and through the 1.4079 swing level. Momentum accelerated into a key support zone between 1.4060

HP is making a major push into artificial intelligence and expects the shift to fundamentally reshape its workforce. CEO Enrique Lores told Yahoo Finance that many tasks currently performed by employees will eventually be done “better and faster” by AI, calling the transition an industrywide reality that companies must adopt to stay competitive. As part

Australian inflation data for October 2025. Headline inflation is hotter than expected at 0% m/m vs. -0.2% expected and 3.8% y/y vs. 3.6% expected and an RBA target band of 2-3% Core inflation is ugly, Trimmed mean 3.3% y/y expected 2.9% +0.3% m/m You can forget about rate cuts from the Reserve Bank of Australia

The RBNZ cut rates by 25 bps to 2.25% today, but with policymakers signaling this is likely the final cut of the cycle, the NZDUSD surged sharply higher. The pair is up 1.21%, making it the strongest performer among the major currencies. Technically, the move gathered momentum immediately after the decision, with price breaking above

That figure is up from the £9.9 billion headroom as set out in their forecast in March. As for the other details: Budget extends freezes of personal tax thresholds for a further 3 years from 2028-29 to 2030-31 The freezing of personal tax and employer NICs thresholds raises £8.0 billion Increases to dividend, property, savings

ECB Vujcic: It has become more difficult to forecast food inflation due to climate change There is a risk of surprises The EURUSD has moved below the 200 hour moving average at 1.1559, tilting the buyers increasingly to the downside. Yesterday – and coming into the North American session – the price had broken above

First presented to the public at iFX EXPO Asia 2025, this attractive offering aligns with the latest financial best practices and governance principles. Regulatory frameworks continue to evolve, and 2025 has brought about even more changes as regulators step up their requirements. From simplified reporting to streamlined supervision and compliance, rules are tightening for financial

The RBNZ delivered on another rate cut today, bringing the overnight cash rate to 2.25%. However, the central bank signaled that this should be the last rate cut and even mentioned that the board debated between holding rates or cutting them again already this time around. Their future projections now see overnight cash rate at

Australia’s inflation accelerated again in October, delivering a hotter-than-expected print that has all but extinguished hopes of further rate cuts and even revived talk of a possible hike next year. New monthly CPI data from the ABS showed headline inflation rising 3.8% y/y — the fastest in 10 months and above the 3.6% forecast —

South Korea’s finance minister warned that officials are on high alert for speculative trading and herd-like moves in the FX market, stressing that authorities will deliver a “stern response” to any excessive volatility. Speaking at a press briefing, Minister Koo Yun-cheol said the won is reacting more sharply to uncertainty than other major currencies, driven

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

The GBPUSD moved lower after the budget was released early, but has now moved to new highs. Technically, the price initially moved lower, but found support buyers against its 200 hour moving average at 1.31239 (green line on the chart above). That was above the 100 hour moving average at 1.31145 (blue line). The price

Major US indices are trading at new session highs led by the Dow industrial average with a gain of 1.45%. The Dow is led by Home Depot with a gain of 4.83% followed by murder with a rise of 4.61%. Nike is up 3.34% and Salesforce is up 2.75%. The S&P index is currently up

There are a couple to take note of on the day, as highlighted in bold below. The first ones are for EUR/USD near the 1.1600 level. The pair has been trending more choppily since the end of October, keeping above 1.1500 but below its 100-day moving average (now seen at 1.1645). The expiries above could

Fundamental Overview The USD weakened across the board yesterday following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position. The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut on Friday. The probability for a December cut is now

It felt a bit weird initially when reading the headlines that some of the things felt like it should’ve been in the budget. The early release was already a cock up but leaking pretty much all the details of the budget is a screw up of a whole other level I guess. The OBR has

Info here: BOJ ramps up signals for near-term rate hike as yen weakness and politics shift Fits with what we had earlier: BOJ board turns more hawkish as Ueda keeps December and January open Has sent USD/JPY and yen crosses lower. This article was written by Eamonn Sheridan at investinglive.com.

Eurostoxx +0.6% Germany DAX +0.5% France CAC 40 +0.5% UK FTSE +0.2% Spain IBEX +0.4% Italy FTSE MIB +0.4% This comes with US futures also sitting higher after the bustling gains from Wall Street yesterday. S&P 500 futures are seen up 0.4% with tech shares holding up. This week is seeing a bit of a

Market index 317.6 vs 316.9 prior Purchase index 181.6 vs 168.7 prior Refinance index 1090.4 vs 1156.8 prior 30-year mortgage rate 6.40% vs 6.37% prior This is never a market moving release. Mortgage applications are generally inversely correlated to mortgage rates. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior month (August 2.9% revised to 3.0%) Durable goods orders for September 0.5% vs 0.3% expected. Durable goods orders ex Transport 0.6% vs 0.2% expected. The prior of 0.3% revised to 0.5% Durable goods ex defense 0.1% vs 1.9% last month Non-Defense capital goods ex air 0.9% vs 0.2% expected. Prior month 0.4% revised to

It’s a big day for the UK and that will see plenty of watchful eyes on the pound as well as the gilts market. UK chancellor Reeves will be announcing the Autumn Budget and that will be heavily scrutinised amid the intense political pressure that she has come under in recent months. The quid is

In terms of where the range that they are expecting for gold, it is from $3,950 to $4,950 in 2026. On the bump higher, Deutsche cites continued central bank demand as a key reason: “Third quarter supply-demand data supports a continued central bank bid. The positive structural picture shows inelastic demand from central banks and

Post ’em if ya got ’em! This article was written by Eamonn Sheridan at investinglive.com.

German DAX futures +0.6% UK FTSE futures +0.3% Solid as you’d like with US futures also keeping the optimistic run going ahead of the Thanksgiving break. S&P 500 futures are up 0.4% on the day with Nasdaq futures up 0.5% and Dow futures up 0.3%. A Fed rate cut for next month is continuing to

Fundamental Overview The USD weakened across the board yesterday following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position. The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut on Friday. The probability for a December cut is now

Fundamental Overview The USD weakened across the board yesterday following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position. The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut on Friday. The probability for a December cut is now

The New Zealand dollar jumped after the RBNZ cut its cash rate target: RBNZ cuts its cash rate by 25bp, as widely expected to 2.25% from 2.5% This was the third consecutive cut and is widely expected to the be the final cut of the cycle. The RBNZ expected that ahead shows no further cuts:

I’m comfortable with the path for inflation in the next months The risk that inflation will undershoot is limited I don’t see any de-anchoring of inflation expectations Services and wage inflation are progressing positively I’m slightly more positive on growth Risks are balanced There’s nothing new here as the ECB member continue to repeat the

Via Bloomberg: Weak Yen Boosts December Rate-Hike Chances, Ex-BOJ Official Says (gated) In brief: Support inside the Bank of Japan for a near-term rate hike is clearly broadening, with several board members signalling readiness to tighten in the coming months. New board member Kazuyuki Masu, previously cautious when he joined five months ago, said last

Prior -7.7 That’s a modest improvement in Swiss investor sentiment, even if the current conditions index is seen worsening to -4.9 from 0.0 in October. UBS notes that: “Analysts’ expectations regarding export momentum have brighetened significantly after Switzerland and the US announced a joint declaration of intent for a trade agreement.” This article was written

Deutsche Bank has set one of the most bullish targets on Wall Street for next year, projecting the S&P 500 to reach 8,000 by the end of 2026. The bank says equity positioning, which snapped back sharply after the April selloff, has since slipped back to underweight—creating room for investors to rebuild exposure and potentially

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HP Inc. reported fourth quarter (ended October 31 2025) revenue of US$14.64 billion, topping consensus of ~US$14.53 billion. Adjusted earnings per share came in at US$0.93, just ahead of the US$0.92 estimate. Looking ahead, HP sees fiscal 2026 non-GAAP EPS in a range of US$2.90 to US$3.20, falling short of the Street at ~US$3.32, and

To promote upgrades of consumption goods for rural areas To make full use of policies for large-scale equipment upgrades and trade-in programs for consumer goods China’s consumption contribution ratio to economic growth will steadily increase by 2030 To promote the application of AI in all sectors of consumer goods To strengthen the research and development

Reserve Bank of New Zealand with a third consecutive rate cut. Many expect this to be the last of the cycle. Indeed, from the RBNZ path ahead outlook: sees official cash rate at 2.25% in March 2026 (PVS 2.55%) sees official cash rate at 2.28% in December 2026 (PVS 2.62%) For the statement: Annual consumers

Credit Argicole notes that as things stand, “many EUR positives and USD negatives are already in the price” when viewing EUR/USD. Taking that into consideration, that limits room for further upside in the near-term for the pair. As such, the firm is maintaining a more neutral stance for the remainder of 2025. On upside risks,

JPMorgan expects the Swiss franc to weaken against the euro in 2026, arguing that a brighter European growth outlook should finally begin to show up in FX pricing. The bank notes that EUR/CHF typically moves in line with Europe’s growth momentum, yet this year’s upward revisions have not been reflected in the currency. Analysts say

Japan can’t improve fiscal health without strengthening the economy What is most important is to ensure fiscal sustainability Don’t expect to see a “Truss-shock” type of market rout Closely watching market movements including JGB yields and yen currency Government watching for any speculative moves The UK continues to catch strays on the whole Truss-Kwarteng mini-budget

China is accelerating an enormous, economy-wide push to fuse artificial intelligence with manufacturing in an effort to preserve its position as the world’s factory floor. While Beijing still aims to compete with U.S. tech giants in frontier AI, its near-term priority is industrial survival—boosting output, cutting labour needs, and keeping exports competitive despite rising costs,

In the European session, the main highlight will be the UK Autumn Budget announcement. You can read Justin’s preview here. In the American session, we will get the latest US Jobless Claims figures. The release was brought forward because tomorrow it’s Thanksgiving Day and US markets will be closed. The Initial Claims are expected at

Budget deficit $284 billion versus $235.05 billion estimate. Compares unfavorably to 2024 deficit of $257 billion. Total outlays $689 billion versus $584 billion in October 2024. Receipts $404 billion versus $327 billion in October 2024. Net customs receipts record $31.4 billion versus $7.3 billion in October 2024 This article was written by Greg Michalowski at

Taiwan’s president warned that Beijing is intensifying military, political and information pressure on the island, accusing China of accelerating preparations to seize Taiwan by force. Speaking late Tuesday, the president said Beijing is working to redefine “democratic Taiwan” as “China’s Taiwan,” while stepping up military drills, grey-zone harassment and influence operations designed to undermine the

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

Australia inflation jumps again, wiping out rate-cut hopes and lifting AUD, yields – recap NZD higher – recapping RBNZ cuts to 2.25% but signals end to easing as NZ economy steadies Fed politicization, “Hassett effect” a potential shadow on the USD Taiwan warns China speeding up military preparations and intensifying grey-zone pressure China accuses Japan,

Gold has been underpinned during the session, helped by lower US yields and a softer USD. Geopolitics playing a role too, with some strong rhetoric out of China. China has accused Japan and Taiwan’s ruling Democratic Progressive Party (DPP) of provoking tensions in the Taiwan Strait, with Beijing warning that any external interference will meet

The U.S. dollar weakened after markets sharply increased the odds of Kevin Hassett being nominated as the next Federal Reserve chair, according to Mizuho Securities. Said traders are not questioning the Fed’s independence based on policy signals alone, with senior officials including John Williams, Chris Waller and Mary Daly all openly supporting another cut next

Amazon shares are trading up around 1.5% on the day and increasing the bullish bias in the process. In the video above I take a look at the daily chart, and seek two bullish developments over the last few trading days. The price low on Friday stalled near the 200 day MA at $214.68. The

The NASDAQ index has now turned back into the black. It is trading up 64 points or 0.28% at 22935.40. The S&P is up 42 points or 0.63% at 6748, and the Dow industrial average leads the charge with a gain of 530 points or 1.14% at 46979.62. Some gainers today include: Zoom Video: +13.30%

The Reserve Bank of New Zealand is the focus for the session here. The Bank is expected to cut its cash rate target by 25bp. RBNZ rate cut expected this week, last one in the cycle? End of AUD/NZD bull run in sight NZIER Shadow Board majority recommends a 25bp RBNZ OCR cut to 2.25%

The U.S. Treasury sells $70 billion of 5 year notes yield High Yield 3.562% WI level at the time of the auction 3.557% Tail 0.5 basis points versus 6 month average up 0.3 basis points Bid to cover 2.41X versus 6 month average of 2.36X Dealers 11.04% versus 6 month average of 10.4% Directs 27.6%

President Donald Trump has walked back his earlier insistence that Ukraine agree to a U.S.-backed peace plan by Thanksgiving, saying there is no firm deadline for a deal and that “the deadline for me is when it’s over.” Speaking to reporters aboard Air Force One en route to Florida for the Thanksgiving break, Trump said

Reserve Bank of New Zealand Governor Hawkseby Won’t be disclosing votes today Feel risks are balanced We are in a great position to mitigate risks Central projection is based on cash rate on hold through 2026 See signs labour market stabilising We’re now seeing economic indicators picking up across all high frequency indicators Current cash

more to come — Expectations I had seen centred on: Headline crude +0.05 mn barrels Distillates +0.6 mn bbls Gasoline +0.7 mn — This data point is from a privately-conducted survey by the American Petroleum Institute (API). It’s a survey of oil storage facilities and companies The official report is due Wednesday morning US time.

Investors pushed two of the market’s biggest artificial-intelligence names in opposite directions on Tuesday, highlighting shifting sentiment inside the AI trade. Alphabet rose more than 1%, extending a months-long rally that has brought the Google parent closer to a US$4 trillion valuation, powered by optimism around its AI tools, cloud services and growing chip capabilities.

The Australian inflation data was scorching, headline and underlying are both above the top of the RBA target band: Australia CPI (October) 0.0% m/m (-0.2% expected) & 3.8% y/y (3.6% expected) headline 3.8% y/y (!) and core 3.3% y/y the RBA band is 2-3% services inflation is 3.1% and goods 4.3% There is no way

Deutsche Bank expects the euro to strengthen meaningfully over the next two years, projecting EUR/USD to reach 1.25 by end-2026, up from around 1.1560 currently. In its year-end FX outlook, the bank argues that a combination of improving global growth, a cyclical recovery in Europe led by Germany, and the possibility of a Russia–Ukraine peace

Services PPI data for October 2025, seen as a leading indicator of Japan’s consumer services sector prices. prices continued to rise for labour-intensive industries such as hotel and construction work underscoring the central bank’s view a tight job market will keep pushing up wages and service-sector inflation This’ll keep the BoJ pondering rate hikes: BOJ

The U.S. Treasury will auction off $70 billion of 5 year notes at the top of the hour. Yesterday, the auction off to your notes with average demand. The auction will be compared to the 6 month averages of the major components to determine either strong or weak demand. The six-month component averages shows: Tail

It was reported earlier that White House economic advisor Hassett was the front runner for the Fed chair position. Fox News White House correspondent Edward Lawrence is saying that: There is no front runner A final list of candidates has not yet been sent to the White House. A final list of recommended candidates will

ABC reports that Ukrainian delegation has agreed with the US on terms of potential peace deal. A US official told ABC news that “the Ukrainians have agreed to a peace deal though there are still details to be sorted out”. It seems like we are finally getting to the end of this, and expectations remain

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

Nvidia’s earnings report didn’t disappoint, beating analysts’ expectations. New York Fed President John Williams suggested there’s still room for a rate cut in the near term and flagged rising risks for the labor market, pushing expectations for a December rate cut higher (now above 75%). Still, neither of these factors managed to lift investor sentiment,

Limassol, Cyprus – November 2025, easyMarkets, a leading CFD broker, today announces a significant leadership transition as it appoints a new CEO to drive the company’s next era of growth, innovation and global expansion. After more than a decade of visionary leadership, Nikos Antoniades will step down from his role as Chief Executive Officer. Having

The USDCAD has rotated back lower and sits close to unchanged on the session, but importantly, the pair continues to find buyers against support near 1.4104. That level has acted as a dependable floor today, and the market’s ability to hold it has allowed price to bounce back to the upside and stabilize. From here,

German DAX futures -0.2% French CAC 40 futures -0.1% UK FTSE futures -0.1% It was mostly tech shares that drove the rally in Wall Street, so that’s leaving European indices in a bit of a bind. US futures are also looking more pensive today, with S&P 500 futures down marginally by 0.1% currently. So, that’s

The major US indices are trading mixed with the Dow industrial average higher by about 0.62%. The S&P near unchanged at 0.08%, and the NASDAQ index down -0.40%. Shares of Nvidia are lower by about -5.39% after overnight news that Google and Meta are in talks that could shift major AI workloads away from Nvidia

Pres. Trump is saying that he thinks we are getting very close to a deal on Ukraine. Meanwhile France’s Macron is speaking and says: On frozen Russian assets we will finalize with the EU countries a solution for Ukraine financing. Talks in Geneva showed that there cannot be any limitation on Ukrainian Army. We need

Prior month 0.0%. Index 74.8 revised 274.9 Pending home sales month-to-month 1.9% vs 0.5% estimate Pending home sales index 76.3 vs 74.8 last month. Regionally, Northeast +2.3% West -1.5% Midwest +5.3% South +1.4% Details from national Association of realtors: Monthly changes (October 2025, MoM) Pending home sales rose in the Northeast, Midwest, and South Pending

Major European indices are closing higher on the day led by Spain’s Ibex with a gain of 1.08%. The snapshot of the closing levels shows: German DAX, +0.95% France’s CAC, +0.3% UK’s FTSE 100 +0.78% Spain’s Ibex, +1.08% Italy’s FTSE MIB +0.95% As London/European traders head for the exits, US indices are mixed: Dow industrial

Bloomberg is reporting that Kevin Hassett is seen as the front runner for the Fed chair position. Earlier today Treasury Secretary Bessent said that 2nd round of interviews would take place today. Hassett is a dove. This article was written by Greg Michalowski at investinglive.com.

The Atlanta Fed GDPNow growth estimate for Q3 fell to 4.0% from 4.2% last. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2025 is 4.0 percent on November 25, down from 4.2 percent on November 21. After recent releases from the US

Eurostoxx +0.1% Germany DAX flat France CAC 40 +0.2% UK FTSE +0.2% Spain IBEX flat Italy FTSE MIB flat The changes are light as market players don’t have all too much to work with to start the week. The risk rebound extended yesterday in Wall Street but owed much to tech shares. But for today,

Prior 90 French consumer sentiment eases marginally in November, keeping well below the long-term average of 100 still. Of note, there were slight declines in the expected financial situation (-12 from -11 previously) as well as unemployment prospects (47 from 48 previously). The trend graph can be found below. This article was written by Justin

Prior -4 Services index -4 vs +4 prior Manufacturing shipments -14 vs +4 prior Full report here Fifth District manufacturing activity declined in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index dropped to −15 in November from −4 in October. Two of its three component

US data will be released at 10 AM including: Pending home sales for October. Estimate 0.5% Consumer confidence for November. Estimate 93.4 versus 94.6 in October. Richmond Fed composite index for November. Last month -4.0 This article was written by Greg Michalowski at investinglive.com.

The EURUSD is making a “break for it” as it extends above both the 38.2% retracement of the range since the October high, and 200 hour moving average, both at 1.1567. The level is now close risk for traders. Earlier today, the price broke above a swing area between 1.1541 and 1.1546. The last 3

The USD fell after the data don’t at 8:30 AM ET which showed expected/slightly lower PPI and lower retail sales with the control group falling -0.1% (versus 0.3% expected). The control group does feed into US GDP data. The EURUSD moved higher with the price peaking at 1.1561. That was just short of the 200

Fundamental Overview The USD regained some ground in the past days but the momentum stalled as December rate cut odds jumped following Fed’s Williams dovish comments. As of now, the December rate cut odds stand around 70% but we won’t get much data before the FOMC meeting, so the focus will likely be mainly on

Ukrainian Pres. Zelenskyy says that he wants to me US Pres. Trump as soon as possible, and possibly over Thanksgiving. He wants to finalize a joint US – Ukraine agreement on the terms for ending the war. This is according to exit is citing Zelenskyy’s Chief of Staff. Zelenskyy is facing intense pressure from Washington

Tech sector struggles: Nvidia dips while Google gains momentum Sector Overview The stock market is displaying a complex tapestry today, with the technology sector predominantly in the red. The semiconductor industry is enduring a tough day, while certain consumer electronics and communication services stocks show resilience. Semiconductors: A significant downturn is noted here, with Nvidia

ECB’s Makhlouf: Inflation is in good place, but risks remain Heads up: UK Autumn Budget will be in focus tomorrow European indices open little changed to start the day France November consumer confidence 89 vs 90 expected What are the main events for today? Eurostoxx futures -0.2% in early European trading Germany Q3 final GDP

Bitcoin Futures Analysis with tradeCompass for Today (25 November 2025) Recent Bitcoin Market Drivers Bitcoin spent the last week under heavy pressure and Deutsche Bank outlined five forces behind the cryptocurrency’s worst weekly decline since February. The mix included reduced liquidity, unwinding of crowded long positions, miner selling, ETF outflows, and a rotation into other

Prior month (August) 0.6% Retail sales for September 0.2% vs 0.4% estimate. Retail sales ex auto 0.3% vs 0.3% estimate. Prior month 0.7% revised lower to 0.6%. Retail sales ex gas/auto 0.1% vs 0.7% last month revised lower to 0.6% Retail Control Group -0.1% versus 0.3% estimate. Prior month 0.7% revised lower to 0.6%. The

The latest on what’s ahpenning with Venezuela. The US has been ramping up pressure. Whether this plan for a call is feint or not, I dunno! This article was written by Eamonn Sheridan at investinglive.com.

Prior month 94.6 Consumer confidence 88.7 vs 93.4 last month. The level is moving toward the lows seen going back to 2020 (see chart below) Dana Peterson, the conference Board chief economist said: Consumer confidence tumbled in November to its second lowest level since April after moving sideways for several months, All five components of

In a Wall Street Journal interview, Fed’s Daly supports a 25 basis point rate cut in December. Daly says she supports cutting rates at the December meeting due to rising risks of a sudden labor-market deterioration. Warns the job market is “vulnerable” and could have a nonlinear downturn, which she sees as harder to manage

Bitcoin is showing soume bounce now after it logged its weakest week since February, falling more than 30% from last month’s peak as macro pressure, policy uncertainty and investor repositioning hit the crypto market all at once, according to Deutsche Bank analysts. The bank cites a sharp risk-off shift across global markets, with Bitcoin increasingly

Tickmill’s newly appointed Regional Manager for Latin America (LATAM), Brunno Huertas, will be a guest speaker at Finance Magnates London Summit, on November 26 (FMLS:25). Huertas has overseen Tickmill’s expansion strategy across Spanish- and Portuguese-speaking markets. With over 15 years of experience in Forex and derivatives, he has localised expertise developing strong client relationships and

Prior week -2500 Over the four weeks ending November 8, 2025, U.S. private employers cut an average of 13,500 jobs per week, according to ADP’s NER Pulse, which provides preliminary, seasonally adjusted weekly employment estimates using a four-week moving average and high-frequency ADP payroll data. The NER Pulse is released three times per month on

Treasury Sec Bessent on CNBC says: On U.S.–China: we’re always going to be natural rivals On U.S.–China: relationship in good place On U.S.–China: Trump may attend APEC in November On U.S.–China: could be four meetings between Trump and Xi next year On Fed: Will have last interview in second round today – CNBC On Fed:

I’m a bit worried about services and food inflation Makhlouf has recently said that policy is in good place, which has been the core message from the central bank for months. They are not going to respond to small or short-term deviations from their 2% target. This article was written by Giuseppe Dellamotta at investinglive.com.

Gold is once again in the spotlight after a solid showing yesterday to kick start the new week. The precious metal moved up by 1.7% to back above $4,100 as risk appetite shows some improvement while traders are also pricing in over 70% odds of a Fed rate cut for December. That sees gold nudge

MoM 0.1% versus 0.1% estimate. Prior month 0.1% YoY 1.4% versus 1.4% estimate. Prior month 1.6% In a separate, housing report from the FHFA Monthly Home price 0.0% vs 0.4% last month YoY 1.7% versus 2.4% last month Monthly index 435.4 versus 435.6 last month This article was written by Greg Michalowski at investinglive.com.

Fundamental Overview The USD regained some ground in the past days but the momentum stalled as December rate cut odds jumped following Fed’s Williams dovish comments. As of now, the December rate cut odds stand around 70% but we won’t get much data before the FOMC meeting, so the focus will likely be mainly on

Light Crude Oil Futures Analysis with tradeCompass for Today and This Week (25 November 2025) Recent Oil Market Drivers Crude oil remains under pressure as fresh geopolitical and supply news adds to an already heavy macro backdrop. Russia and China signaled interest in expanding oil exports despite ongoing US sanctions that are squeezing several major

Discover how momentum trading works—backed by real data. Learn strategies to ride market trends and maximise returns. The post The Essential Guide To Momentum Trading (Backed By Data) appeared first on TradingwithRayner.

NVIDIA Technical Analysis with tradeCompass for Today (25 November 2025) NVIDIA Pre-Market Overview NVIDIA enters today’s session under renewed pressure. The stock is trading at $175.83 in the pre-market, 3.68 percent below yesterday’s close. Despite being up roughly 30 percent year to date, the stock has been in a clear post-earnings downtrend. After moving sharply

Prior was +2.6% PPI +0.3% m/m vs +0.3% expected Prior m/m -0.1% Ex food and energy +2.6% y/y vs +2.7% expected Ex food and energy +0.1% m/m vs +0.2% expected Full report here This is September data, so it’s very old news and won’t change anything for the Fed. From the BLS “the September advance

Hope jobs data will convince others on Fed to cut rates It’s hard to quantify impact of AI on the economy Unemployment rate rising because monetary policy is too tight Fed should get to neutral rate quickly I don’t see an inflation problem Concerned by higher cost of living but Fed policy needs to look

Japan PM Takaichi says she spoke with Trump on a call says it was Trump who proposed the call Trump explained recent US-China relations following his call with Chinese President Xi Had wide-ranging exchange of views over Indo-Pacific situation I believe I was able to confirm close cooperation between Japan and US Well, dunno about

The USD is lower as the market shifts back toward a cut in December. The expectations is now up to around 80% (it was in the 30%’s last week). The shift came as NY Fed President Williams, Daly and Wallers have shifted to a cut in December. The thought is that the Fed Chair Powell

Same high-performance CRM platform, quicker KYC checks and higher approval rates with e-Signature. iTech Software introduces e-Signature, a new CRM functionality that speeds up KYC verification checks for brokers and traders. This platform upgrade aligns with the company’s mission to empower brokers with agile back-office solutions. This capability is fully integrated with iCRM and the

U.S. equities may face more near-term pressure, but Morgan Stanley strategist Michael Wilson says investors should treat the pullback as a buying opportunity heading into 2026. Wilson acknowledged that tensions around Federal Reserve policy and tightening liquidity have weighed on markets, but reiterated his “high conviction” in a bullish 12-month outlook. He said market behaviour

Credit Agricole’s fixing model points to “mild USD buying across the board” this month-end, owing to the rebalancing performance amid broad equity declines, combined with FX-adjusted market cap effects. Of note, the firm says that the strongest signal is for dollar demand against the loonie. As such, the model suggests long USD/CAD to be the

US position on Taiwan remains unchanged We’re always going to be natural rivals with China Chinese are on schedule with soybean purchases Ukraine continues peace plan talks with the US Trump may attend Shenzhen APEC summit in November 2026 I have five strong candidates for Fed chair Good chance Trump will announce Fed chair before

Goldman Sachs has rolled forward its USD/CNY forecasts but kept its underlying view unchanged: the Chinese currency should gradually strengthen over the coming year. The bank now projects USD/CNY at 6.95 in three months, 6.90 in six months and 6.85 in twelve months, arguing that the renminbi remains undervalued and supported by improving macro fundamentals.

S&P Global said Canada’s economy is poised to expand over the next few years as business conditions begin to improve, even as several structural challenges remain in place. The ratings agency expects Canada’s unemployment rate to gradually decline in 2026, reflecting a slow recovery in hiring and firmer domestic demand. However, S&P warned that core

The Budget statement typically begins around 1230 GMT, following the end of PMQs. There will be a lot of moving parts to scrutinise but the key narrative is that UK Chancellor Reeves has a very, very tough balancing act to manage. Not only does she need to plug the £20 billion hole in public finances,

Major US stock indices close with solid gains White House: US and Ukraine talks have been productive Fed’s Daly backs a December rate cut Crude oil settles at $58.84. Tests the 100 hour MA on the rebound White House to delay healthcare proposal U.S. Treasury auctions off $69 billion of 2 year notes at a

Russia and China are exploring options to expand Russian oil shipments to the Chinese market, Deputy Prime Minister Alexander Novak said at a Sino-Russian business forum in Beijing. China and India have become Russia’s dominant energy customers since the Ukraine war began, with China currently taking around 1.4 million barrels per day by sea and

There aren’t any major expiries to take note of on the day, with the full list seen below. As such, trading sentiment will continue to revolve around the risk mood for the most part although major currencies remain relatively muted still on the week. Traders might be winding down towards the Thanksgiving holidays but keep

The FX market seems like it is slowly winding down towards the Thanksgiving holidays, though month-end might offer something to work with before the week is truly over. But for today, the mood music remains rather lackadaisical with changes among major currencies being relatively muted. The dollar traded more mixed yesterday with a lack of

Weekly ANZ-Roy Morgan Australian Consumer Confidence rose to 87.1 prior 84.2 87.1 is the highest since early in September this year. ANZ cite the improvement on the week on retailer sales ahead of Black Friday. This article was written by Eamonn Sheridan at investinglive.com.

In the European session, we don’t have much on the agenda other than a couple of low tier releases like the French consumer confidence and the Spanish PPI. None of the data is going to change anything for the ECB, so the market reaction will likely be muted. In the American session, we have a

The major US stock indices close was solid gains led by the NASDAQ index which had its largest percentage gain since May. The S&P index had its best days since October 13. A snapshot of the closing levels shows: Dow industrial average rose 202.86 points or 0.44% at 46448.27 S&P index rose 102.13 points or

Fundamental Overview The USD regained some ground in the past days but the momentum stalled as December rate cut odds jumped following Fed’s Williams dovish comments. As of now, the December rate cut odds stand around 70% but we won’t get much data before the FOMC meeting, so the focus will likely be mainly on

Prior -0.3% Q3 GDP (non-seasonally adjusted) +0.3% vs +0.3% y/y prelim Prior -0.2% Q3 GDP (seasonally adjusted) +0.3% vs +0.3% y/y prelim Prior +0.2% No changes to the initial estimates as the German economy grinds to a halt in the third quarter this year. Amid more stubborn price pressures as well, stagflation risks are a

The Bank of Korea is expected to keep its policy rate unchanged at 2.50% on November 27, according to a Reuters poll in which 32 of 36 economists cited a weak currency and overheated housing market as reasons to delay easing. Economists, who previously expected a cut this month, now see the first reduction pushed

The White House is commenting on the peace talks with Ukraine U.S. and Ukraine talks have been productive There are just a couple of points of disagreement. Trump is optimistic a deal can be struck. Trump remains optimistic and hopeful. Adds that Trump has been putting pressure on both Putin and Zelinski There are no

Chinese President Xi says to enhance energy partnership with Russia. Will ensure smooth energy supply chain with Russia. CCTV reporting. No surprises here. Neighbors China and Russia are friends due to their common distaste for the US. — Chinese President Xi Jinping on Tuesday sent a congratulatory message to the 7th China-Russia Energy Business Forum

You can’t make this sort of thing up, FT Exclusive: The UK Treasury has asked banks to make public and prominent endorsements of the Budget this week, wanting lenders to praise new policies and show how they will boost lending to first-time buyers and small businesses. This article was written by Eamonn Sheridan at investinglive.com.

Tesla has been hit with a new patent-infringement lawsuit alleging the company knowingly used protected robotics technology in its Autopilot and self-driving systems. Info via Reuters. The suit, filed in federal court in Alexandria, Virginia on Monday, comes from Perrone Robotics, whose founder Paul Perrone claims to have developed a general-purpose robotics operating system designed

The Information is a tech website, with the latest:: Google Further Encroaches on Nvidia’s Turf With New AI Chip Push Gated. In a nutshell, Google is talking to Meta and other cloud customers about letting them run Google’s TPU chips in their data centers. Data centres switching to Google’s chips would be a huge win

Russia, China discuss expanding oil exports as U.S. sanctions hit major producers Chinese President Xi says to enhance energy partnership with Russia Heavy oil pipeline for Canada, Alberta to coast of BC, looks set for approval Japan PM Takaichi says she spoke with Trump on a call Goldman Sachs sees gradual CNY appreciation, USD/CNY at

Canadian Prime Minister Mark Carney and Alberta Premier Danielle Smith are set to announce a memorandum of understanding on energy on Thursday. Likely related to a heavy oil pipeline running from Alberta to the British Columbia northwest coast Reports are that and Alberta are close to concluding a wide-ranging framework on energy development, including a

Japan’s Prime Minister Sanae Takaichi is set to hold a phone call with U.S. President Donald Trump on Tuesday, according to FNN. The discussion is expected to focus on Trump’s recent conversation with China’s leader Xi Jinping. The call comes at a sensitive moment in regional diplomacy. Earlier this month, Takaichi warned that a Chinese

I posted yesterday on Goldman Sachs expecting the Federal Reserve to begin cutting interest rates in December, with several more reductions through 2026 Goldman forecasts December Fed interest rate cut, then another in March, then June of 2026 that would take the policy rate to just above 3%. Adding a little more: Chief economist Jan

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

We had data from South Korea earlier: November consumer sentiment hit its highest since November 2017 at 112.4 prior 109.8 Included in this data release are inflation expectations, for November these came in at 2.6%, the same as the previous month. I’ve got nothing else on the data calendar ahead. This article was written by

The price of crude oil is settling at $58.84. That is up $0.78 or 1.34%. The high price today reached $58.94 just off the settle level. The low price was at $57.42. Looking at the hourly chart, the low price today was near the low prices from Friday’s trade near $57.39. The subsequent move to

The U.S. has pressed the U.K. to take a harder line on Chinese involvement in critical infrastructure, warning that Chinese firms pose growing national-security risks across the Five Eyes network. A senior U.S. official said Britain should adopt a “zero-trust” stance toward Chinese companies in strategically sensitive sectors and move toward blanket exclusion. Info via

The USDCAD has traded in a two-way fashion today but holds a modest upside bias. The move higher has pushed the pair further away from support at the October high of 1.40791. That level was broken to the upside last Thursday, and on Friday the market successfully retested it twice, reinforcing 1.4079 as key short-term

The White House is saying that they will delay the healthcare proposal. This proposal is a critical response to the expiring Affordable Care Act (ACA) subsidies, which are set to run out on December 31, 2025. Here is a breakdown of what the proposal is expected to do and the broader context of the administration’s

High-yield 3.489 WI level at the time of the auction 3.489% Tail 0.0 basis points vs 6 month average of-0.5 bps Bid to cover 2.68X vs 6 month average of 2.59X Directs 30.74% % vs 6 month average of 30.9% Indirects 58.07% vs 57.9% Dealers 11.18% versus 6 month average of 11.1% AUCTION GRADE: C

EU Sefcovic: EU team set to go to Washington to tackle various issues EU set priority on steel, including tackling overcapacity for EU. Conditions in place to launch negotiations on US steel tariffs. Meanwhile US commerce Sec.Lutnick is also speaking and says: US can put forward steel deal Our suggestion is for the EU to

ECB’s Nagel is speaking and says: Current level of the Euro at $1.16 is not a cause for concern. Food inflation remains stubborn. ECB keeps an eye on strong price increase in services too. With Dec projections we’ll see more clearly if monetary policy stance remains appropriate. The EURUSD is actually trading at 1.1514. Looking

Japanese markets are closed today for Labor Thanksgiving Day, which fell on November 23 (but being observed on November 24). Earlier: Japan signals greater readiness for early yen intervention – may come before 160 This article was written by Eamonn Sheridan at investinglive.com.

For the economic schedule, the Bureau of economic analysis or BEA says that the Q3 GDP advance estimate has been canceled with the 2nd estimate rescheduled although no date yet has been set. Earlier today, the BEA also said that US PCE and personal income report for September has been rescheduled for December 5 .

Trump says he had a “very good telephone call” with China’s President Xi. Topics discussed included Ukraine/Russia, Fentanyl, Soybeans, and other farm products. He says the U.S. has made a “good and very important” deal for American farmers, with more improvements ahead. Describes the U.S.–China relationship as extremely strong. Notes this call followed their successful

Fundamental Overview Gold continues to consolidate near key levels as the uncertainty around the December rate cut remains high. Fundamentally, nothing has changed as the only US official data we will get before the FOMC meeting is from September, which is old news by now. Nonetheless, we have the US jobless claims as the timeliest

Sector Overview The stock market heatmap today reveals a dynamic performance across various sectors, with technology and semiconductor stocks taking the spotlight. The technology sector, overall, showed resilience with solid gains from giants like Microsoft (MSFT) at +0.23% and Palantir (PLTR) soaring +1.70%. These gains contributed to a sense of positive sentiment in spite of

Multiple airlines have suspended flights to Venezuela citing rising tensions The US has been, and is continuing, ramping up military presence and pressure in the region, leading to speculation of some sort or imminent action. This article was written by Eamonn Sheridan at investinglive.com.

Headlines: US futures cut gains in the run up to the Wall Street open later The risk mood keeps the calm to start the new week, for now at least Gold Technical Analysis: The rangebound price action continues amid rate cut uncertainty If court strikes down tariffs, there will be new actions imminently – Lutnick

For what it’s worth, August data for manufacturing activity is revised lower: Industrial production revised to -0.1% from 0.1% Capacity utilization revised to 75.8% from 77.4%. Manufacturing output revised to 0.1% from 0.2% The Federal Reserve also issued annual benchmark revisions to the US industrial production capacity utilization data. This article was written by Greg

Fundamental Overview The uncertainty about a December cut has been weighing on the stock market ever since Powell delivered his infamous line saying that a December cut was not a foregone conclusion. The lack of official US data and cautious stance from Fed members didn’t help either. On Friday though, Fed’s Williams suggested that he

The major European equity indices ended the session with mixed results, with France’s CAC and Italy’s FTSE MIB finishing in negative territory while Germany and Spain posted gains. Germany’s DAX rose 0.70% to 23,253.09, but the index continues to trade below its 200-day moving average at 23,472.30. A break above that long-term barometer would be

As per his latest post on Truth Social: “Despite the massive amount of money being made by the United States of America, Hundreds of Billions of Dollars, as a direct result of Tariffs being charged to other countries, the full benefit of the Tariffs has not yet been calculated in that many of the buyers

Fundamental Overview The uncertainty about a December cut has been weighing on the stock market ever since Powell delivered his infamous line saying that a December cut was not a foregone conclusion. The lack of official US data and cautious stance from Fed members didn’t help either. On Friday though, Fed’s Williams suggested that he

Shares of Microsoft have been retreating after failing to take out the July all-time high at $555.45 at the end of October. At that time, the rally stalled again just shy of that mark at $553.72, and the inability to print a new high proved to be an early technical warning. The rejection at the

This story here on Friday helped to lift the market mood but as a caveat, it’s been one that has made it in and out of the headlines for quite a number of months already. But in a time when the market is desperately looking for something to cling onto, that was enough to at

U.S. stock futures are trading higher in premarket trading as investors increase bets on a December rate cut and react to major AI news. Major Tech & AI Movers Alphabet (GOOGL): 4.25% The stock is rallying after reports that Google has overtaken Microsoft in market capitalization, reclaiming its spot as the second-most valuable company. Investors

Fundamental Overview The uncertainty about a December cut has been weighing on bitcoin ever since Powell delivered his infamous line saying that a December cut was not a foregone conclusion. The lack of official US data and cautious stance from Fed members didn’t help either. Given the overstretched positioning in risk assets and the higher

The EURUSD is moving lower after a failed break above the 100-hour MA at 1.15397 and the swing area between 1.1541 and 1.1546. Buyers couldn’t hold the move, shifting the bias back to the downside as failed breaks often do. The pair is now rotating toward the Friday close at 1.1512, with the session low

Eurostoxx +0.6% Germany DAX +1.0% France CAC 40 +0.3% UK FTSE +0.4% Spain IBEX +0.8% Italy FTSE MIB -0.3% This comes as US futures are also continuing to hold higher today, with S&P 500 futures now up 0.6%. After the heavy selling last week, things are calming down for now. But amid what should be

Kremlin Aide Ushakov: Many provisions of US drafted Ukraine peace plan seem acceptable. Some provisions of US drafted peace plan that required detailed discussion. European counterproposals on Ukraine peace plan seem at 1st glance completely unconstructive and do not work for Russia. And therein lies the rub. Europe does not like the plan and resent

Prior month -5.00 Dallas Fed manufacturing business index for November -10.4 Details Of the Texas Manufacturing Outlook Survey — November Summary Factory activity accelerated sharply; production index +15 to 20.5 (strong pickup). New orders turned positive: 4.8 vs. -1.7 prior. Capacity utilization jumped +21 to 19.4. Shipments rose +9 to 15.1 (faster growth). Labor Market

That will mark an over 20% rally from Friday’s close. Suffice to say, Deutsche Bank’s forecast is quite bullish considering the uncertainty faced by the US economy and the current macro landscape. As a reminder, the firm has also penciled in a forecast last week for the Fed to start QE again in Q1 2026.

ES and NQ have gapped open higher on the Globex reopening. The panic selling of US stocks is over. For now at least. BTD normal service has resumed. This article was written by Eamonn Sheridan at investinglive.com.

Things are starting to get a bit dicey now with S&P 500 futures only seen up 13 points, or 0.2%, on the day. The high earlier in the session saw futures up by some 39 points, or 0.7%. Dow futures have turned flat and Nasdaq futures have also cut gains to just 0.4% on the

State media is reporting that: China’s Pres. Xi and US Pres. Trump held talks. Both sides should expand list of cooperation Xi clarified China’s position on Taiwan issue Xi tells Trump return of Taiwan to China an important part of post-war international order Should strive for more progress in bilateral ties Should open new space

The USDCHF extended higher last week, pushing into the extreme zone from November and breaking above the swing-area ceiling between 0.8066 and 0.8076. That upside momentum carried into today as the pair approached the next target at 0.81027, but once again sellers leaned against the level, stalling the advance and capping the rally. The subsequent

StakeMyGold, the innovative platform bridging physical gold with decentralized finance (DeFi), today announced a transformative 12% Annual Percentage Rate (APR) on staking for its gold-backed stablecoins. This offering triples the typical ~4% APR provided by other gold-yielding platforms, which often depend on low-risk lending or basic liquidity pools, by harnessing advanced DeFi protocols for optimized,

There aren’t any major expiries to take note of on the day, with the full list seen below. As such, trading sentiment will continue to revolve around the risk mood for the most part. In FX, watchful eyes will still be on the likes of the Japanese yen after last week’s continued selling but also

China–Japan flight cancellations surge, expected to hit one-month high on Dec. 27 Barclays: Risk assets, USD poised for firmer footing into 2026 Reserve Bank of India reported intervening in FX market to support the rupee Barclays: Powell likely to break close FOMC split in favour of cut Shares of major Chinese chip makers have slid

Reports are that the Reserve Bank of India likely intervened to support the rupee before the local spot market opened on Monday Reuters cite four trader sources. said that the central bank had likely stepped in the spot and non-deliverable forwards market to support INR The rupee has fallen more than 4% YTD 2025. This

German DAX futures +0.8% UK FTSE futures +0.5% For European equities, there is some catching up to do after the Friday declines – which missed out on the late rebound in Wall Street. So, there’s that as well. US futures are also holding higher today, with S&P 500 futures seen up 0.4%. But as mentioned

The USD is mixed with the greenback moving lower vs the EUR and the GBP (both are higher) but still higher vs the JPY. The USD is moving lower to kickstart the North American session as Fed’s Waller (dove) says he favors a cut in rates at the December meeting. Recall Waller was an initial

Since last Fed meeting available data suggests not much change, inflation not a big problem with labour market weak January will be tricky with a flood of data coming to indicate whether another cut is appropriate, need a meeting by meeting approach Still do not think labour market will turn around in the next few

Had productive talks with Lutnick, Greer in the last two days More work lies ahead on steel in trade talks with the US Will discuss aspect of critical, raw materials with US counterparts It doesn’t sound like there was much to take from the meetings it would seem, at least based on these comments. As

People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate

If the court strikes down tariffs, new actions will be taken very quickly Decisions like the ones on Nvidia chips and China are on Trump’s desk There’s still no firm date on when the Supreme Court will deliver on ruling on tariffs. But the backup plan for the Trump administration would be to try and

Swiss National Bank President Martin Schlegel spoke on Saturday. Schlegel signalled that Switzerland’s exceptionally low inflation is set to pick up modestly, even as overall price growth remains comfortably within the SNB’s definition of price stability. Noted that inflation currently sits at the bottom of the bank’s 0%–2% target range but is likely to “rise

Barclays expects the US dollar to maintain positive momentum into 2026, supported by improving risk sentiment and a robust domestic investment outlook. In a research note, the bank says the dollar has proven resilient even as markets grapple with uncertainty over AI valuations, corporate earnings and the returns on large-scale investment spending. argues that massive

The United States and Ukraine say they have developed an “updated and refined” peace framework aimed at ending the war with Russia, revising an earlier Trump administration proposal that Kyiv and European partners viewed as overly favourable to Moscow. Info via Reuters. The joint announcement came after high-level talks in Geneva led by US Secretary

Barclays Research says next month’s Federal Reserve decision remains a close call, but Chair Jerome Powell is still positioned to tilt the Federal Open Market Committee toward a rate cut. In its assessment of recent public remarks, Barclays sees a split emerging inside the committee. Governors Stephen Miran, Michelle Bowman and Christopher Waller appear inclined

Shares of major Chinese chip makers have slid to multi-month lows. The news of note is via a Reuters report that the United States is considering letting Nvidia sell H200 chips to China. Which is weird. I had this back on Thursday (and its been popping in and out of news for moths before that):

A majority of members on the New Zealand Institute of Economic Research (NZIER) Monetary Policy Shadow Board are urging the Reserve Bank of New Zealand to deliver another 25-basis-point cut at its November Monetary Policy Statement, taking the Official Cash Rate to Shadow Board members said the New Zealand economy is beginning to recover from

A growing number of flights from mainland China to Japan are being cancelled, with 12 major routes already scrapping all scheduled services for the coming week, according to data from industry tracker Flight Master. As of 10 a.m. Monday, cancellations were concentrated among some of the busiest China–Japan links, including Tianjin Binhai–Kansai International, Nanjing Lukou–Kansai

UBS Global Wealth Management’s chief investment office says artificial intelligence and broader technology themes will remain the dominant engines of global equity performance in 2026, extending the powerful run seen throughout 2025. In its latest outlook, UBS argues that the macro backdrop is turning more supportive, with global growth expected to firm in the second

South Korea sees potential to coordinate with Taiwan on how to navigate US chip tariffs, according to Trade Minister Yeo Han-koo. Speaking in a radio interview, Yeo said Taiwan is also in talks with Washington, creating scope for both export-heavy economies to secure “the most favourable treatment” through cooperation. Seoul recently finalised a deal with

The Fed blackout period starts the second Saturday preceding an FOMC meeting and ends the Thursday following the meeting. Federal Reserve policy limits the extent to which FOMC participants and staff can speak publicly or grant interviews during Federal Reserve blackout periods. This means that the Fed members will still have time until Saturday to

With the US government shutdown ending, we’ll slowly see more data releases over time in catching up. And this week will feature PPI, retail sales, and durable goods orders from the US – the ones for September at least. While those might not be too impactful now, they are still worth watching in building the

Prior 88.4 Current conditions 85.6 vs 85.5 expected Prior 85.3 Expectations 90.6 vs 91.4 expected Prior 91.6 The German business morale dipped slightly in the latest month, with the expectations/outlook index also easing. This reaffirms a more cautious mood surrounding business sentiment in Europe’s largest economy, which has been persisting since the middle of the

In the European session, the only highlight is the German IFO, which is expected at 88.5 vs 88.4 prior. The data is not going to change anything for the ECB, so the market reaction will likely be muted. In the American session, we don’t have much on the agenda other than a couple of low

Monday begins quietly, with no significant scheduled economic events for the FX market. On Tuesday in the U.S., the data releases include PPI m/m, retail sales m/m, pending home sales m/m, the Richmond manufacturing index, and CB consumer confidence. Wednesday’s focus will be on inflation data from Australia, the RBNZ monetary policy announcement in New

Boston Federal Reserve President Susan Collins signalled that she remains undecided about whether to support another rate cut at the Fed’s upcoming meeting. Speaking to reporters on Saturday at the Boston Fed’s annual economic conference, Collins said she never commits to a position before entering the policy meeting itself. Her remarks follow comments earlier in

Freedom Holding Corp. (https://www.freedomholdingcorp.com/) (NASDAQ: FRHC), an international investment and technology company, has published its annual Sustainability Report for the 2025 financial year, showcasing the company’s substantial contributions to social, educational, sports, and environmental projects across the countries where it operates. The total volume of external ESG-oriented investments amounted to 27.87 billion tenge (USD 57.6

The Reserve Bank of New Zealand meet this week, Wednesday 26 November. Their decision is due at 2pm local time: 0100 GMT 2000 US Eastern time on Tuesday, November 25 A press conference will follow an hour later. A 25bp rate cut is widely expected to 2.25% (currently 2.5%) NAB and BNZ expect the decision

Goldman Sachs says the long-term economic payoff from artificial intelligence is likely to far exceed the investment required — but warns that equity markets have already priced in much of that upside. In a research note, the bank estimates that the present discounted value of additional capital income generated by AI over the next 10

Goldman Sachs expects the US Federal Reserve to deliver a third consecutive rate cut at its December meeting. GS see moderating inflation and cooling labour-market conditions as giving policymakers room to ease further. then anticipates two additional reductions in 2026, one in March and another in June to bring the federal funds rate down to

President Donald Trump is preparing to unveil a broad plan aimed at curbing rising health-care costs, with an announcement expected as early as Monday, according to senior White House officials. The initiative will call on Congress to deliver legislation that prevents sharp increases in Affordable Care Act premiums — an issue the administration views as

A central question emerging from Washington and Wall Street alike is whether Donald Trump could engineer rapid interest-rate cuts simply by replacing Federal Reserve Chair Jerome Powell in 2026. But as Nick Timiraos of The Wall Street Journal argues, the problem isn’t the chair — it’s the votes. Timiraos notes that the Federal Open Market

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,

Canada and India have agreed to restart negotiations on a comprehensive trade pact, ending a two-year freeze triggered by a diplomatic dispute. Canadian Prime Minister Mark Carney and India’s Prime Minister Narendra Modi reached the breakthrough during their bilateral meeting on the sidelines of the G20 summit in Johannesburg. According to a statement from Modi’s

Early signals from Japan’s 2026 wage talks point to another solid round of pay increases, strengthening expectations that the Bank of Japan could raise interest rates soon. Info via Reuters. In brief: Labour unions, including Rengo, representing seven million workers, plan to seek wage gains of 5% or more, matching the demands that produced the

It’s a very sparse data calendar for the session here in APac on Monday, November 24, 2025. There is data from Singapore: October Core CPI, prior + 0.4% y/y Headline CPI, prior 0.40% m/m Headline CPI, prior + 0.7% y/y Due at 0500 GMT / 0000 US Eastern time This article was written by Eamonn

A senior member of Japan’s government advisory panel spoke again on Sunday. He signalled that Tokyo is prepared to intervene more aggressively in the currency market to offset the economic strain caused by a weakening yen — a stance that aligns with Prime Minister Sanae Takaichi’s concerns about inflation. Takuji Aida, who also serves as

US Secretary Marco Rubio said negotiations aimed at securing a framework to end the war in Ukraine made their strongest advance yet, describing the latest round of talks as “the most productive day we have had” since diplomatic engagement began. Rubio said negotiators had “narrowed points in a very substantial way,” signalling that previously contentious

As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online … prices are liable to swing around, so take care out there. Indicative rates only: EUR/USD 1.1516 USD/JPY 156.57 … Japan/China tension continues to simmer, JPY is indicating a little weaker. Note, it’s a

Mon: Bank of Israel Announcement; German Ifo (Nov), US National Activity Index (Oct), Dallas Fed Manufacturing Index (Nov) Tue: PBoC MLF; US Consumer Confidence (Nov), Richmond Fed (Nov), US Retail Sales (Oct) Wed: RBNZ Announcement, UK Autumn Budget; Australian CPI (Oct), US Dallas Fed (Oct) Thu: US Thanksgiving, ECB Minutes (Oct), BoK Announcement; Chinese Industrial

The major US indices had a volatile go at it today. The Dow industrial average had a range of about 800 points The S&P index had a range of 137 points or 2.07% The NASDAQ index had a range of 627 points or 2.28% The initial move was to the downside, and the selling took

Fed’s Williams: Downside risks to employment have increased US November S&P Global services flash PMI 55.0 vs 54.6 expected US November final UMich consumer sentiment 51.0 vs 50.5 expected US real weekly earnings for September -0.1% versus -0.3% in August Canada September retail sales -0.7% vs -0.7% expected Putin: Has received the US plan for

The AUDUSD is caught in a technical sandwich. Buyers found a floor at a key long-term swing area, but the recovery rally has run smack into a wall of resistance against a key MA. . If you look at the 4-Hour chart of the AUDUSD, you can see the technical battle lines are clearly drawn.

Trump hates to the see the market go down. There is a breaking report about Trump’s team floating selling H200 Nvidia chips to China. This idea has come and gone a couple times in the past month. There is a pop in Nvidia shares on this. There is also a pop in the broad market

The President of the United States judges himself — seemingly every day — on the value of the Dow Jones Industrial Average. He is a person that can’t stand to see stock markets go down, even for a brief period. He has utterly convinced himself — and not entirely without reason — that American progress

Must remain vigilant Separately from the ECB’s Kocher: There are geopolitical and economic risks that are at a level we haven’t seen in a long time At the moment, we seem to be in a good place This article was written by Adam Button at investinglive.com.

The Atlanta Fed GDPNow growth estimate for Q4 remained at 4.2%. That is still at the highs for the quarter. In their own words The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2025 is 4.2 percent on November 21, unchanged from November 19 after rounding. After

The GBPUSD is waking up and trying to take more control with a push to the upside, but there is work to be done. Looking at the hourly chart of the GBPUSD, the pair has been battling back and forth, trying to find a direction. We established a nice double bottom floor at the 1.3038

We have been down this road before, but Russian Pres. Putin is saying: He received the US plan for Ukraine. Think they can be a basis for final resolution. Text was not discussed with Russia. Says that Ukraine is against the plan. Russia is ready for a peaceful resolution but the details of the plan

Bank of Japan Governor Kazuo Ueda warned that yen weakness is increasingly feeding into import costs and consumer inflation, saying currency swings now have a bigger impact than in the past. Ueda said Japanese firms have become more willing to raise both wages and prices, which heightens the sensitivity of inflation to foreign-exchange moves. He

Growth news is better than expected Interest rate level is appropriate based on information and indicators Same old comments here from de Guindos. He acknowledges the pickup in economic activity given the previous rate cuts and the expansionary fiscal policies. ECB members have already stated countless times that they won’t respond to small or short-term

The major European indices are mostly closing lower. The UK FTSE 100 rose by +0.05%. France’s CAC fell by -0.03%. A look at the closing levels shows: German DAX, -0.78% France’s CAC, -0.03% UK’s FTSE 100 +0.05% Spain’s Ibex, -0.99% Italy’s FTSE MIB -0.51%. For the trading week all the major indices fell by 2%

Prior was +1.0% Sales were down in six of nine subsectors, led by autos Food and beverage +0.8% Ex-autos +0.2% vs -0.5% expected Prior ex-autos +0.7% Ex-autos and gas 0.0% vs +1.1% prior retail e-commerce sales decreased 3.5% t October preliminary retail sales: “relatively unchanged” Retail sales were up 0.2% in the third quarter There

The USDCAD experienced fluctuating movement today after extending its upward trajectory yesterday, surpassing a key swing area near 1.40791. Yesterday’s high also tested and stalled at another significant swing area around 1.41049. Today, following a brief and quickly rejected attempt to breach the higher ceiling, the price has largely traded sideways, oscillating between the short-term

The USDJPY has experienced weakness in the last hour, extending its decline to the 100-hour moving average at 156.28, with a low print of 156.22 just beneath it. The 100-hour MA is the initial key target for sellers seeking to continue the correction. Further downside focus would shift to the 38.2% retracement of the November

Earlier Collins said leaving rates steady would be “appropriate for now” Calls policy “mildly restrictive” The battle over rates picked back up as Williams had some dovish comments today, that boosted the odds of a December cut back above 50% and is weighing on the US dollar. This article was written by Adam Button at

BOJ’s Masu to Nikkei says: BOJ is close to decision to raise rates Says it’s not good for real interest rates to be deeply negative relationship with the neutral rate of interest rate. Japan’s policy rate is lower than the neutral rate. He says that most countries rates are higher than the neutral interest rate

USD/JPY made a quick move lower, running stops below 156.60 down to 156.20 where it’s bounced. With the intervention talk in USD/JPY, that’s always a threat but I think this is more a case of stops being set on fears of intervention and triggering some quick selling. Moreover, the volatility in stocks markets is a

Like the US employment report, the BLS is saying that the CPI report for October will NOT be released, and that the November report will be released on December 18. That is after the December FOMC rate decision on December 10. CPI The CPI report will not include a one month change due to the

Japanese finance minister Katayama: Closely watching FX moves with a high sense of urgency Won’t comment on forex levels Recent FX moves are sharp, one-sided Important for currencies to move in stable manner reflecting fundamentals Will take appropriate action based on U.S-Japan forex agreement At my meeting with BoJ Ueda and economy minister, Ueda explained

Pres. Trump is saying: Ukraine is losing land Russian Pres. Putin does not want to get more land Thursday is an appropriate deadline for Ukraine plan Meanwhile: Ukraine, France, Germany, and UK are reportedly working on a counterproposal to US peace plan. The proposed 28-point peace plan aimed at ending the war in Ukraine was

ICYMI – Morgan Stanley has withdrawn its call for a December Federal Reserve rate cut after the delayed September jobs report showed a surprisingly strong rebound in hiring. U.S. non-farm payrolls rose by 119,000, reversing a small drop in August and more than doubling consensus expectations for a modest 50,000 gain. Despite the unemployment rate

Singapore’s economy grew faster than expected in the third quarter, prompting the government to sharply upgrade its outlook for next year. Q3 GDP expanded 4.2% year-on-year, beating the Reuters poll of 4.0% and far above the earlier 2.9% advance estimate. Quarter-on-quarter growth rose 2.4% on a seasonally adjusted basis. Buoyed by stronger global demand and

Both the NASDAQ and S&P 500 are breaking lower, hitting new session lows and crossing below their 100-day moving averages (MA) for the first time since May. S&P 500: The index is currently trading at 6,526.66 (down 0.17%), having slipped below its 100-day MA of 6,547.38. NASDAQ: The index is under significant pressure, down 166

Prior 49.6 Services PMI 52.7 vs 54.0 expected Prior 54.6 Composite PMI 52.1 vs 53.5 expected Prior 53.9 Full report here Key Findings: Business activity growth softens in November Comment: Commenting on the flash PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: “These figures are a major setback for

Prior was 54.8 Manufacturing 51.9 vs 52.0 exp Prior manufacturing 52.5 Composite PMI 54.8 vs 54.5 prior Prior composite 54.6 Chris Williamson, Chief Business Economist at S&P Global Market Intelligence: “The flash PMI data point to a relatively buoyant US economy in November, signalling annualised GDP growth of about 2.5% so far in the fourth

The USD is little changed in up and down trading vs both the EUR and the GBP, while the greenback is lower vs the JPY as some profit taking from the run higher kicks in to end the trading week. IN the video, I take a look at the technicals that are driving the price

Maybe the consumer isn’t doing so badly after all? The Gap CEO Richard Dickson said in the earnings call that despite “widely reported macroeconomic pressure on the low-income consumer,” Gap Inc. saw “growth across all income cohorts.” Shares are up 8% premarket. Yesterday, Walmart was also fairly upbeat on the consumer and the holiday season.

Prelim was 50.5 Prior was 53.6 Conditions 51.1 vs 58.6 prior Expectations 51.0 vs 50.3 prior The UMich numbers are unreliable and haven’t tracked consumer spending for a long time. This article was written by Adam Button at investinglive.com.

Prior month -0.3% (August) September real weekly earnings month-to-month -0.1% YoY 0.8% versus 0.7% last month This article was written by Greg Michalowski at investinglive.com.

Bitcoin Technical Analysis and Price Prediction, Bro Bitcoin has been under heavy pressure, and the latest performance metrics show a market that has clearly entered a corrective phase. The short term and medium term numbers tell the story. Over the last week BTC is down 16.75%. Over the last month it is down 25.25%. The

Prior month 1.3% (revised from 1.4%) Wholesale sales for the month of August 0.1% versus 0.4% estimate. Wholesale inventories 0.0% versus -0.2% estimate. Inventory to sales ratio 1.28 months versus 1.28 months last month.The ratio is near the low levels going back to midyear 2022 This article was written by Greg Michalowski at investinglive.com.

Japanese Prime Minister Sanae Takaichi said the government is prepared to issue new bonds to help fund the latest stimulus package if stronger tax revenues fall short, but stressed that overall JGB issuance will still be smaller than last year’s total. Takaichi reiterated that Japan must pursue sustainable public finances through economic growth, signalling her

Chicago Federal Reserve President Austan Goolsbee signalled discomfort with delivering another rapid rate cut, warning that policymakers risk front-loading easing before knowing whether the recent rise in inflation is temporary. Speaking in a virtual interview, Goolsbee said inflation has been “steady at best, and by some measures worse,” leaving him uneasy about adding a third

Sector Overview Today’s stock market heatmap reveals a mix of dynamic sector performances, with technology leading the charge. Notably: Communication Services: Google (GOOGL) surged by 3.50%, boosting confidence in the sector as investor sentiment turns optimistic. Consumer Cyclical: Tesla (TSLA) saw a rise of 1.27%, showing strength in the auto manufacturing space, while Amazon (AMZN)

The USDCHF pushed up to the high end of the 0.8066-0.8076 key swing area yesterday, where sellers emerged and subsequently pushed the price lower today. Today’s decline found support just ahead of the broken 61.8% retracement at 0.80295, sparking a renewed rally back towards the mentioned swing area. The pair is now attempting to clear

Asian equity markets traded broadly lower, with China and Hong Kong leading declines. The Shanghai Composite fell 0.6%, while the Hang Seng dropped 1.8% alongside similar weakness in the Shenzhen Component (-1.8%) and ChiNext (-2.1%). Japan’s Nikkei 225 also slid 1.8%, mirroring the regional risk-off tone. U.S. futures were steadier, with S&P 500 (ES) and

We’ve set a 2% target and at 3%, inflation is too high We made a sacred promise of 2% inflation A little uneasy on inflation Longer-term, I believe rates can come down ‘a full amount’ Employment near full employment Goolsbee will have a vote again in 2027. This article was written by Adam Button at

Japan’s trade data for October came in stronger than expected, with exports rising 3.6% year-on-year, comfortably beating forecasts for a 1.1% gain, according to Ministry of Finance figures. Imports also surprised to the upside, edging 0.7% higher versus expectations for a small decline. The trade deficit narrowed to ¥231.8 billion, smaller than the ¥280.1 billion

Repeats she would find it difficult to support Dec rate cut Inflation too high, jobs market roughly balanced Repeats that Oct cut was not warranted More from Collins: Global economic fragmentation could make economy more volatile Fragmentation could lead to higher inflation Higher economic volatility could complicate Fed’s work Note that the Fed’s blackout period

Rate cuts by year-end Fed: 8 bps (67% probability of no change at the upcoming meeting) 2026: 94 bps ECB: 1 bps (97% probability of no change at the upcoming meeting) 2026: 10 bps BoE: 22 bps (83% probability of rate cut at the upcoming meeting) 2026: 63 bps BoC: 4 bps (87% probability of

Tariffs have increased prices but are not expected to lead to persistent inflation Inflation progress has stalled but should be on track to 2% in 2027 Fed can still cut rates in the near term given current policy is moderately restrictive Economic growth has slowed and the labor market has gradually cooled Labour market now

The comments from the Fed this morning have shifted a bit with Fed’s Williams saying that policy is still restrictive and that could lead to a cut. Fed Collins said that is important to be forward-looking and that there are risks to the labor market adding that the increased risks of labor market where good

We are seeing US equities catching some nice bids after Fed’s Williams said that they can still cut rates in the near term given the modestly restrictive policy. The December rate cut odds jumped to roughly 60% after his dovish comments. Fed’s Williams is the President of the New York Fed and he is a

ECB’s de Guindos: Risks to growth are balanced Dovish hold, or hawkish cut: that is the question How have interest rate expectations changed after this week’s events? UK November flash services PMI 50.5 vs 52.0 expected Eurozone November flash services PMI 53.1 vs 52.8 expected Germany November flash manufacturing PMI 48.4 vs 49.5 expected ECB’s

The last Fed Chair Powell’s press conference marked a top in risk sentiment as the infamous words “a December cut is not a foregone conclusion – in fact, far from it” triggered a hawkish repricing in interest rate expectations. The stock market has been drifting lower ever since as the chances for a December cut

Prior +0.5%; revised to +0.7% Retail sales +0.2% vs +1.5% y/y expected Prior +1.5%; revised to +1.0% Retail sales ex autos, fuel -1.0% vs -0.3% m/m expected Prior +0.6%; revised to +0.7% Retail sales ex autos, fuel +1.2% vs +2.5% y/y expected Prior +2.3%; revised to +1.7% These are all big misses and the initial

Japan’s exports rose for a second straight month in October, signalling a partial recovery after recent tariff-driven weakness in U.S. demand. Total shipments increased 3.6% year-on-year, beating expectations for a 1.1% rise, though exports to the United States still fell 3.1%. Shipments to China grew 2.1%, helping offset the drag from the U.S. market. Imports

Major stock indices are closing lower after hopes for a rebound after Nvidia’s earnings, turns into a rout to the downside by the close. The NASDAQ index was up 583.10 point at session highs. It is closing down -486.18 points or -2.15% The S&P index was up 128.19 points at session highs. It is closing

New Zealand Imports in October, 8.04bn NZD prior 7.17bn Exports 6.5bn prior 5.7bn Trade Balance is a deficit of -1542mn for the month prior -1335mn The trade balance YTD is a deficit of 2.28bn NZD prior -2.39bn — The kiwi $ is barely moved on the data, it was sold off alongside other ‘risk’ on

Prior 52.3 Manufacturing PMI 50.2 vs 49.2 expected Prior 49.7 Composite PMI 50.5 vs 51.8 expected Prior 52.2 Key Findings: UK private sector growth eases in November, while output price inflation softens to 59-month low Comment: Chris Williamson, Chief Business Economist at S&P Global Market Intelligence: “November’s flash PMI surveys brought disappointing news on the

The broader S&P and NASDAQ indices are both testing key swing levels and also near their 100 day moving averages. For the S&P index the last time the price traded below its 100 day moving average is back on May 9. For the NASDAQ index it to is traded below its 100 day moving average

Yen finally finding some small bids as Japan’s Cabinet approves 21tln stimulus package U.S. charges four in Nvidia chip-smuggling case, revives calls for chip tracking Bitcoin, Ether continue to slide – crypto crush Ueda:inflation to converge around our target sometime from latter half of next fiscal year Offshore yuan not artificially cheap, Mizuho says, citing

Prior 48. Manufacturing PMI 47.8 vs 49.0 expected Prior 48.8 Composite PMI 49.9 vs 48.1 expected Prior 47.7 Full report here Key Findings: Fresh expansion in services activity helps French economy stabilise in November Comment: Commenting on the flash PMI data, Jonas Feldhusen, Junior Economist at Hamburg Commercial Bank, said: “The French private sector shows

In the European session, we get the UK Retail Sales data and the Flash PMIs for major European economies and the UK. None of these data is going to change anything for their respective central banks, but it could still be market-moving. The BoE is expected to cut in December with a 83% probability following

Prior 53.0 Manufacturing PMI 49.7 vs 50.2 expected Prior 50.0 Composite PMI 52.4 vs 52.5 expected Prior 52.5 Full report here Key Findings: November sees further solid expansion of eurozone business activity Comment: Commenting on the flash PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: “For months the manufacturing

Australian S&P Global Manufacturing PMI Flash (November 2025) 51.6, a nice jump back into expansion prior 49.7 Services 52.7 prior 52.5 Composite 52.6 prior 52.1 — Little impact on the AUD. The currency fell alongside the broad risk sell off on Thursday, US time. This article was written by Eamonn Sheridan at investinglive.com.

investingLive.com Stock Market Update Now Nasdaq Futures Struggle After Yesterday’s Reversal. Caution Still Warranted Nasdaq futures remain under pressure this morning after a dramatic session yesterday that caught many traders off guard. The market opened Wednesday with strong enthusiasm following Nvidia’s earnings beat, and for several hours the sentiment was decisively positive. By the afternoon,

ECB rate cuts are increasingly supporting financing conditions Fiscal packages will have a measurable growth effect She’s not deviating from her recent comments as the ECB remains in neutral stance watching how the economy evolves. This article was written by Giuseppe Dellamotta at investinglive.com.

U.S. prosecutors have charged four people with illegally exporting advanced Nvidia AI chips to China, a case that has intensified calls in Washington for tighter tracking of high-end semiconductors. The indictment alleges the defendants—two U.S. citizens and two Chinese nationals—used fake contracts, false paperwork and third-country routing to evade export controls. Info via Reuters. According

Japan’s Finance Minister Satsuki Katayama said the government expects the country’s debt-to-GDP ratio to fall slightly from last year’s level, even after compiling an extra budget to finance its latest stimulus package. The remarks aim to reassure markets concerned about Japan’s heavy borrowing needs. Katayama also said Japan is only “halfway” toward achieving stable, sustainable

Bloomberg with the headline, a comment from a Japanese ‘government panelist’ saying it may intervene before USD/JPY reaaches 160. “Japan has such an enormous amount of foreign reserves,” Takuji Aida, chief economist at Credit Agricole, said in an interview with Bloomberg on Thursday, referring to funds that would likely be used if the government stepped

Philadelphia Federal Reserve President Anna Paulson said she is approaching December’s policy meeting “cautiously,” arguing that the Fed must carefully balance slowing labour momentum against lingering inflation risks. Paulson backed the most recent rate cuts but warned that “each cut raises the bar for the next one” as policy moves closer to providing economic stimulus

Prior 101 Services sector confidence 98 vs 95 prior A little miss here but it’s not a market-moving report and it certainly won’t change anything for the ECB. This article was written by Giuseppe Dellamotta at investinglive.com.

Bank of Japan Governor Kazuo Ueda said the central bank’s baseline view remains to continue raising interest rates if the economy and inflation evolve as projected, signalling growing confidence that the BOJ’s forecasts are on track. Ueda noted that the likelihood of those projections materialising is increasing, reinforcing expectations of further, gradual policy normalisation. That’s

USD/JPY and yen crosses have fallen a little in the wake of Japan’s Cabinet approving the 21.3tln yen economic stimulus package: 17.7tln JPY of fresh spending via extra budget measures ranging from price relief to investment support in priority sectors biggest portion will go to price relief, ¥11.7 trillion, subsidies, cash handouts and such This

Can’t comments on expected size of additional bond issuance to fund the latest package Believe markets have stabilised after various announcements Various factors contribute to market developments Don’t believe latest package is sufficiently big to ignite demand-driven inflation Total bond issuance this fiscal year to be below last fiscal year The Japanese Yen caught a

More from BOJ Gov Ueda: Expect inflation to converge around our target sometime from latter half of next fiscal year through fiscal 2027 Earlier: BoJ Gov Ueda says prospect of economy, price forecasts materializing increasing (rate hike Bank of Japan Governor Ueda says weak yen pushes up import prices, factor in higher CPI Senior BOJ

Here’s the latest from Bessent: The Fed should be looking at data Fed should keep going with cutting cycle This article was written by Eamonn Sheridan at investinglive.com.

EUR/USD 1.1680 (EUR 1.30 bn) 1.1625 (EUR 1.39 bn) 1.1500 (EUR 1.50 bn) USD/JPY 155.00 (US$ 761.93 mn) GBP/USD 1.3435 (GBP 282.82 mn) USD/CHF 0.8050 (US$ 408.74 mn) 0.7870 (US$ 212.00 mn) USD/CAD 1.4200 (US$ 519.71 mn) 1.4120 (US$ 723.08 mn) 1.3970 (US$ 770.60 mn) 1.3900 (US$ 693.89 mn) AUD/USD 0.6550 (AUD 3.03 bn) NZD/USD

Risk off is pronounced in crypto: equity valuations ‘AI ‘bubble’ worries Fed huts questioned are all weighing. BTC hit a 7 month low today, while ETH a 4 month low. I posted earlier on a Whexit: Top Bitcoin whale sells entire $1.3bn BTC stack as sentiment fades This article was written by Eamonn Sheridan at

UK consumer confidence slipped in November as households brace for potentially tough measures in next week’s budget, according to the latest GfK survey. The headline index fell to -19 from -17, slightly weaker than the Reuters poll expectation of -18 and matching the lowest reading since May. While sentiment remains notably above April’s sharp drop

President Donald Trump has widened tariff relief for Brazilian food imports, reversing part of the steep trade penalties he imposed earlier this year and aiming to ease pressure on U.S. consumers frustrated by high grocery bills. An executive order signed Thursday exempts dozens of staple food items from a 40% tariff that had applied to

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,