- Indexes on Wall Street closed yesterday’s session with record highs. The Nasdaq100 rose more than 1.2%, and the S&P 500 gained 0.6%. Salesforce shares rose more than 10%, thanks to the company raising forecasts and positive comments about its AI assistant Agentforce
- Jerome Powell of the Fed indicated that the U.S. economy is in good shape and the Federal Reserve can afford to loosen monetary policy more conservatively and slow the pace of cuts.
- The U.S. dollar is losing slightly, with the EURUSD gaining 0.15% to 1.0526; 10-year bond yields held at 4.19% yesterday. According to Fed Beige Book, US economic activity rose slightly in most Fed districts while prices rose only at a modest pace
- Energy commodities traded unchanged; crude oil lost slightly. Similarly, little volatility is seen in the precious metals market in the morning, with gold trading flat. Among agricultural commodities, soybean and wheat futures are gaining
- Bitcoin rose 3.5% and broke through psychological resistance at the $100,000 level, reaching a new historic high near $103500. Donald Trump has appointed blockchain and indirectly cryptocurrency industry-linked Paul Atkins as the new SEC chairman
- Swiss unemployment rate came in 2.6% vs 2.7% exp. and 2.6% previously; seasonally adjusted. Australia’s trade balance in October came in much higher than expected; it came in at AUD 5.95 billion, versus AUD 4.55 billion expectations and AUD 4.61 previously. Singapore retail sales rose 2.2% in November vs. 2.4% forecast and 2.4% previously
- Sentiments on the Asian session are mostly weak, with the Chinese Hang Seng dropping almost 1%. The Japanese Nikkei gained only 0.3% despite solid growth on US Nasdaq. Also, South Korean KOSPI index is losing today almost 0.9% China Foreign Ministry decided to impose sanctions on 13 US military firms and executives, effective from December 5th.
- Today, macro investors’ attention will focus on data from German industry (7 AM GMT), retail sales readings from the Eurozone (10 AM GMT), unemployment claims from the US (1:30 PM GMT) and the Challenger Report on the dynamics of layoffs in the US economy (12:30 PM GMT). Oil market awaits OPEC+ meeting (11:30 PM GMT).
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