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European Central Bank Vice President Luis de Guindos indicated that further interest rate cuts are likely if inflation forecasts remain unchanged. He emphasized that the timing and magnitude of these cuts will depend on how inflation evolves, making precise predictions challenging.
The Nifty and Sensex reversed gains after a strong opening, closing lower due to declines in auto and energy stocks. The Sensex fell by 147.14 points to 79,962.71, while the Nifty dropped 39.40 points to 24,182.50, amid concerns over earnings and a lack of positive market triggers. Despite a significant influx of foreign institutional investment, experts caution that the recent rally may not be sustainable.
Traders experienced a sense of déjà vu as Donald Trump's latest tariff threats triggered a surge in the dollar, prompting a flurry of activity in the markets. Nick Twidale, a seasoned currency trader, noted the potential for profit over the next four years, having already capitalized on short positions against the Mexican peso and Australian dollar.
The euro is facing significant challenges as poor economic indicators and political uncertainties weigh heavily on the currency, pushing it closer to parity with the dollar. Major asset managers predict this could occur by year-end, as the US economy shows signs of growth, contrasting sharply with Europe's stagnation. The euro's fate appears increasingly tied to developments in the US, particularly with the incoming administration's policies.
Asian markets are bracing for pressure as President-elect Donald Trump plans to impose trade tariffs on Mexico, Canada, and increase levies on China. Analysts predict that Asian currencies, particularly the Korean won and Thai baht, will underperform, while stocks in China, Mexico, and Canada, especially those reliant on US exports, are expected to decline.
Gold prices fell 3.44% to $2,616.80 per ounce as optimism surrounding President-elect Trump's Treasury pick and a potential Israel-Hezbollah ceasefire diminished the metal's safe-haven appeal. The market anticipates a shift in U.S. monetary policy, with a reduced likelihood of a rate cut in December, while a stronger dollar further pressures gold. Analysts predict continued volatility in gold prices amid the transition to the Trump administration and its economic policies.
Japanese companies are increasing service prices at the fastest rate since 1992, passing on rising labor costs to customers. Producer prices for labor-intensive services rose 3.3% in October compared to the previous year, indicating a potential shift in the economic cycle as firms adjust to higher expenses.
U.S. markets experienced optimism on November 25 as President-elect Trump’s tariff plans led to a dollar rally. He announced a 25% tariff on imports from Mexico and Canada and a 10% tariff on China, citing illegal immigration and drug trade concerns. Additionally, Federal Reserve President Neel Kashkari hinted at a potential rate cut, while discussions for a ceasefire between Hezbollah and Israel progressed, impacting global markets.
Federal Reserve Bank of Minneapolis President Neel Kashkari indicated that considering a 25-basis-point interest rate cut at the December meeting is still reasonable. He noted the economy's resilience against higher rates may suggest a higher neutral rate, prompting questions about the effectiveness of current monetary policy in cooling demand and its impact on inflation.
The dollar strengthened significantly, rising over 2% against the Mexican peso and 1% against the Canadian dollar, following President Trump's announcement of tariffs against both countries. This shift comes after a period of weakness for the dollar, as markets reacted positively to Trump's nomination of hedge fund manager Scott Bessent as U.S. Treasury secretary. Analysts suggest that Trump’s actions are a reminder of his influence over the markets.
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09:16 26.11.2024
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05:24 26.11.2024
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