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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Argentine investors are increasingly opting for longer-duration peso savings and investments, reflecting growing confidence in President Javier Milei's ability to tackle inflation and stabilize the exchange rate. This shift is evident as traders seek longer maturities in fixed-rate peso bonds and deposit savings for extended periods, anticipating lower interest rates.
India's benchmark indices closed higher on November 27, with the Sensex gaining 230.02 points to reach 80,234.08 and the Nifty rising 82.20 points to 24,276.7, amid a volatile trading session. Adani Group stocks surged up to 12% following news that the chairman and his aides were not charged under the US Foreign Corrupt Practices Act, adding Rs 1.2 lakh crore to the group's market capitalization. Meanwhile, European markets and US equity futures declined as investors assessed recent US cabinet appointments and awaited key economic data for insights on interest rate trends.
The S&P 500 is projected to rise over 8% by the end of next year, reaching 6,500 points, driven by strong U.S. economic health and anticipated earnings growth. Financials are highlighted as a top sector pick, with expectations of deregulation and tax cuts under Trump's agenda further boosting market performance.
Emerging-market stocks rebounded, driven by speculation of new stimulus measures from China amid potential US tariffs. The MSCI Emerging Markets Index reversed a 0.4% decline to rise 0.3% by 7:33 a.m. in London, with notable gains from Tencent Holdings, Meituan, and Alibaba Group.
U.S. Treasury yields fell as investors awaited key inflation data, with the 10-year yield down to 4.2673% and the 2-year yield at 4.2210%. The October personal spending and income report, including the Fed's preferred inflation gauge, is set for release at 10 a.m. ET, with economists predicting a 2.8% year-over-year increase for the core reading. Meanwhile, traders see a 66% chance of a quarter-point rate cut in December, as Fed officials express confidence in easing inflation and gradual policy adjustments.
President-elect Donald Trump's proposed 25% tariffs on Canadian and Mexican imports could significantly impact U.S. refiners, consumers, and Canadian producers, potentially leading to higher fuel prices and revenue losses. Experts express skepticism about the implementation of these tariffs, citing inflation concerns and the need to maintain energy costs ahead of the midterm elections. Canadian officials are urging immediate resolution of border issues to prevent unnecessary tariffs on exports.
Chinese stocks surged as optimism grew over potential stimulus measures ahead of a significant economic meeting in December. The CSI 300 Index rose 1.7%, marking its largest gain in three weeks, with technology shares leading the charge. In Hong Kong, a gauge of Chinese stocks climbed 2.6%, reflecting a broader risk-on sentiment.
EUR/JPY and USD/JPY have declined amid speculation that the Bank of Japan may raise interest rates next month, while AUD/USD has bounced off its November low at $0.6435, targeting a rise towards $0.6549. EUR/JPY's recent drop has neutralized its medium-term outlook, with potential downside targets at ¥158.11, while resistance is noted between ¥161.49 and ¥162.35. For USD/JPY, minor resistance is identified around ¥153.29.
European stocks declined as investors focused on the European Central Bank's potential rate cuts and geopolitical tensions in the US and the Middle East. The Stoxx Europe 600 Index fell 0.4%, with French blue chips like the CAC 40 dropping 1% amid a political standoff over the budget, impacting major banking groups.
The Federal Reserve's meeting minutes indicate a potential series of gradual rate cuts next year, with a December reduction also possible. Meanwhile, US trade representative nominee Greer has backed higher consumer taxes, raising concerns about increased gasoline prices and impacts on the auto sector, as companies prepare for new tax liabilities. As the US gears up for Black Friday, key economic data on consumer spending and inflation is expected, while German consumer confidence remains less of a focus amid ongoing communications from the ECB.
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