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The dollar is poised for its longest streak of weekly gains in over a year, driven by rising geopolitical tensions that have heightened demand for the safe-haven currency. The Bloomberg Dollar Spot Index surged by 0.7% on Friday, reaching its highest level in two years, marking an eighth consecutive week of increases, the longest rally since September 2023.
Asian liquefied natural gas prices surged to their highest level this year, driven by increased competition from Europe for heating and power generation fuel. The Japan-Korea marker reached approximately $15.3 per million British thermal units, marking the highest point since early December 2023, as European benchmarks also saw gains.
The Indian rupee fell to a record low of 84.5013 against the US dollar on November 21, driven by Foreign Portfolio Investors' (FPI) selling and a strong dollar index. Analysts suggest that ongoing dollar demand and higher US interest rates are prompting FPIs to withdraw funds, although the Reserve Bank of India’s interventions and healthy foreign exchange reserves may help stabilize the currency.
China"s economy faces significant challenges, including the threat of a deflationary spiral and the implications of Donald Trump"s election in the US. As President Xi Jinping"s long-term growth goals become increasingly difficult to achieve, Beijing is implementing new strategies to revitalize the economy. The effectiveness of these plans remains uncertain as scrutiny of China"s economic statistics grows.
The dollar rally appears to be losing momentum as key market indicators suggest a plateau following the initial surge inspired by the US election. Bloomberg’s currency gauge has declined for three consecutive days after reaching a two-year high, with momentum indicators indicating limited short-term upside. Investor sentiment is shifting, leading to a more cautious outlook on the currency"s direction.
At COP29, China aims to strengthen ties with the EU by addressing unresolved financial aid issues for developing countries, especially as the US"s influence wanes under President-elect Trump. While China resists being labeled an official donor under the Paris Agreement, it has pledged significant voluntary contributions, emphasizing its role as a leading greenhouse gas emitter. The EU is open to this approach, seeking to establish a collaborative framework to tackle climate challenges effectively.
The Honda Prologue, with about 13,000 units sold since its launch, has quickly become the fifth best-selling electric vehicle in the U.S., appealing to loyal Honda customers seeking an affordable alternative to the Tesla Model Y. Its familiar design, comfortable ride, and practical features, such as a spacious interior and lower maintenance costs, contribute to its success. The Prologue"s starting price of $47,400 positions it competitively in the market, while its performance and reliability continue to resonate with Honda"s customer base.
Chile"s economy grew by 0.7% in the third quarter, surpassing analysts" expectations of 0.6%, with a year-on-year increase of 2.3%, according to the central bank. This growth offers limited relief to President Gabriel Boric"s administration, which is set to revise its expansion forecast for the year.
Greece plans to accelerate the repayment of at least €5 billion ($5.3 billion) in bailout loans by 2025, marking a significant shift in the country's economic trajectory since its near exit from the euro area over a decade ago. Prime Minister Kyriakos Mitsotakis announced that these obligations are set to mature between 2033 and 2042.
Thailand's economy grew 3.0% year-on-year in the third quarter, driven by stronger exports and government spending, surpassing expectations. This growth, along with a 1.2% quarter-on-quarter increase, intensifies calls for rate cuts to address declining private consumption.

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