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AUD/USD faced its steepest weekly decline in four months, closing 1.84% lower at 0.6461, driven by a stronger US dollar following hawkish remarks from Fed Chair Jerome Powell. Meanwhile, Australia's mixed employment data and the RBA's commitment to controlling inflation suggest a delayed rate cut until May 2025. The currency pair is nearing critical support at 0.6360 - 0.6350, with a sustained break potentially leading to further declines towards the October 2022 low of 0.6170.
IG
Thailand's same-sex marriage legislation, effective January 22, 2025, is projected to attract an additional 4 million tourists annually, generating $2 billion in tourism revenue and creating 76,000 jobs. The law will also grant same-sex couples rights related to adoption, healthcare, and inheritance, positioning Thailand as a leading destination for LGBTQIA+ travelers in Asia.
Starwood Property Trust, Inc. operates as a real estate investment trust with segments including Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing. The company engages in the origination and management of various mortgage types and debt securities across the U.S., Europe, and Australia, while also focusing on stabilized commercial real estate investments.
IG"s Turbo24s offer a unique trading experience, allowing 24-hour access from Monday to Friday, unlike traditional turbo certificates. These products enable speculation on various assets with predetermined knock-out levels, ensuring contained risks. With zero commissions for trades over €300 and flexible leverage potentially exceeding 100X, Turbo24s stand out in the market, supported by IG"s robust trading platform.
This week sees a continued rise in the US dollar amid a less dovish stance from the Federal Reserve, with rate-cut expectations for December dropping to 60%. Key earnings reports from companies like NVIDIA are anticipated, while the RBA and UK CPI data will be closely monitored for insights on inflation and monetary policy. Japan's core CPI shows signs of easing, but rising wholesale inflation raises concerns about future price pressures.
IG
US equity markets fell as inflation data and comments from Fed Chair Powell dampened rate cut expectations, with a 25 basis point cut now at 60%. In Australia, the ASX 200 faces pressure from ongoing commodity trends, while job growth slightly missed forecasts. Key economic indicators are set for release next week, including UK CPI and US housing data.
IG
Asian equities are poised for gains as traders adjust their expectations for a Federal Reserve rate cut next month, impacting US stocks and bolstering the dollar. Australian shares saw modest increases, while Japanese and Hong Kong futures rose, supported by a weaker yen and a strengthening greenback. In early Asian trading, US equity futures dipped slightly.
AUD/USD has sharply declined, nearing its August low of $0.6349, while minor resistance is noted at $0.6476 and $0.6513. In contrast, EUR/JPY remains above last week's low of ¥163.22 but below the 200-day SMA at ¥164.85, with the October peak at ¥166.68 in sight. USD/JPY continues to rally, targeting the late May high of ¥157.70, with support at ¥154.71 and ¥153.88.
IG
The ASX 200 rose 16 points (+0.20%) to 8209 as of 2.30pm AEDT on 14 November 2024, amid mixed labour market signals. The Australian economy added 15,900 jobs in October, below expectations, while the unemployment rate remained steady at 4.1%. In the banking sector, Commonwealth Bank shares hit a record high following a strong Q1 profit report, while the IT sector also saw significant gains. Conversely, the gold sector faced declines, and iron ore prices dipped below $100, affecting major miners.
IG
Colonial First State, one of Australia's largest pension funds, plans to increase its private credit investments in response to potential inflationary policies under Donald Trump. The A$156 billion fund aims to raise its private credit allocation from less than 1% to mid single-digits in the coming years, as indicated by Chief Investment Officer Jonathan Armitage.

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