🌍 Global Markets: Investors tread cautiously ahead of central bank decisions. The Fed's Wednesday meeting takes centre stage, with a 94% chance of a 25bps rate cut priced in. However, slower easing is expected in 2025. 🇺🇸 US futures dip slightly despite tech-driven gains overnight.
📉 Asia Mixed:
- 📊 Nikkei +0.3%
- 📉 Hang Seng -0.5%
- 🇨🇳 China data disappoints: Industrial output met expectations, but retail sales slowed sharply. Property woes persist despite stabilised home prices.
🏛️ China: Plans a record 4% GDP deficit for 2025 (up from 3%) to spur growth amid challenges. Leadership sticks to a 5% growth target despite the property crisis and risks like potential Trump tariffs.
💰 Crypto:
- 🚀 Bitcoin smashes records at $107,767 following Trump’s Strategic Reserve proposal, despite implementation hurdles.
- 📈 MicroStrategy’s inclusion in the Nasdaq 100 fuels bullish sentiment.
- 🚀 ETH nears its all-time high at $4,011.
🌏 Political Unrest:
- 🇰🇷 South Korea: President Yoon impeached over martial law decree.
- 🇩🇪 Germany: Parliament withdraws confidence in Scholz’s government.
- 🇨🇦 Canada: Finance Minister Freeland resigns amid rising US trade tensions.
💹 Central Banks:
- 🇯🇵 BOJ expected to hold rates this week (91% surveyed), but most anticipate hikes within 3 months.
- 🇮🇩 Indonesia & 🇹🇭 Thailand hold steady; 🇵🇭 Philippines likely to cut.
💵 Currencies:
- The Dollar firms near 2.5-week highs 📈 as markets await Fed guidance.
- Euro: $1.05002, Yen: 154.06, Sterling bounces 📊 ahead of UK labour data.
🛢️ Commodities:
- 🛢️ Oil dips: WTI $70.60, Brent $74.08 as China demand concerns offset OPEC+ cuts.
- ⚠️ IEA warns of a 950,000 bpd surplus in 2025 despite supply constraints.
🏢 Corporate News:
- 🛒 Alibaba to sell its Intime stake for $1 billion, recording a $1.3 billion loss as part of strategic restructuring. Shares fall 1.5% in Hong Kong.
📅 Data to Watch Today:
- 🇬🇧 UK Wage Data
- 🇩🇪 German Ifo Expectations & ZEW Economic Sentiment for December
Stay tuned and trade smart! 📈🚀
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