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Gold prices reached a one-week high, climbing 0.4% to $2,623.54 per ounce, supported by a softer U.S. dollar as markets await insights from Federal Reserve officials regarding interest rates. U.S. gold futures also rose by 0.5% to $2,627.60. Meanwhile, palladium remained steady at $1,005.20 after a significant rise of over 5% on Monday.
Asian indices are poised for recovery as the US dollar cools and Treasury yields show resistance to rising. The Nikkei 225 is hovering around a lower wedge trendline support, with potential for gains as seasonal trends favor stronger performance into early December. However, a breakdown below last week"s high would signal caution.
IG
Financial markets are adjusting expectations regarding the next US treasury secretary, anticipating a commitment to tax increases and potential tariffs that could impact trade dynamics, particularly with China. As Eurozone trade data emerges, the focus on economic nationalism and bilateral trade balances intensifies, while industrial production shows signs of softness across major economies. ECB officials are set to speak, but the Federal Reserve remains the primary source of market uncertainty.
Santander has significantly expanded its US investment banking operations, increasing staff from 900 to about 1,300, largely through hiring former Credit Suisse bankers. The firm has focused on leveraged finance, completing 110 deals this year, and aims to enhance its market position while maintaining its culture. Despite upfront costs and a recent pretax loss in the US arm, the investment bank has become a crucial revenue contributor, accounting for nearly 14% of the group"s income.
Gold prices rebounded after experiencing their steepest weekly decline since 2021, rising by 0.7% to over $2,581 an ounce. The market is reacting to the uncertain outlook for Federal Reserve rate cuts amid Donald Trump's potential return to the White House, with nearly half of traders anticipating a rate cut next month. Lower borrowing costs typically support gold prices, as the metal does not yield interest.
Yen bulls are optimistic about a potential rebound in Japan's currency, anticipating that interest-rate hikes from the Bank of Japan and cuts from the Federal Reserve could push the yen to around 130 against the dollar. However, caution prevails due to the yen's volatility in 2024 and uncertainties surrounding the impact of Donald Trump's possible return to the White House on Fed policy and global markets.
Most Asian stocks are poised for a decline as traders adjust their expectations regarding Federal Reserve easing amid concerns over President-elect Donald Trump’s fiscal and trade policies. Equity futures indicate losses in Australia, Japan, and mainland China, while Hong Kong contracts show slight gains. Following the US election, US stocks fell 1.3%, erasing more than half of their post-election gains.
During Donald Trump's first term, the stock market served as a key indicator of his presidency, with Trump often taking credit for market rallies and expressing frustration with the Federal Reserve. As he prepares for another presidential run, his economic policy proposals are raising concerns among strategists about potential inflation and slowed growth.
Most Gulf stock markets experienced declines on Sunday, influenced by recent U.S. economic data and remarks from Federal Reserve officials indicating a slower pace of interest-rate cuts. This sentiment has contributed to a cautious outlook among investors in the region.
US inflation remains stubborn despite a notable decline over the past two years, as highlighted by the October consumer price report. Consumer spending shows little sign of slowing, prompting the Federal Reserve to adopt a cautious stance on interest-rate cuts while balancing labor market support and inflation risks.

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