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Long-term financial goals should steer investment strategies, rather than being swayed by current market fluctuations. Recent market corrections were influenced by factors such as significant foreign portfolio investor sell-offs, muted corporate earnings growth, and currency fluctuations, alongside new market supply.
Gold prices remained steady at around $2,630 an ounce following a cease-fire agreement between Israel and Hezbollah, which reduced demand for safe-haven assets. The 60-day suspension of hostilities, anticipated by traders, contributed to a more than 3% decline in gold prices earlier in the week as investors await US economic data that may influence the Federal Reserve's interest rate decisions.
Jaguar Land Rover faces a new challenge as its Chinese partner, Chery Automobile Co., plans to introduce its upscale Jaecoo brand in the UK. The move aims to compete directly with JLR's Range Rover line by offering more affordable sport utility vehicles.
Asian stocks are poised for a mixed opening as investors overlook Donald Trump's tariff plan, which has propelled the US benchmark to a new record. President Joe Biden announced a cease-fire agreement between Israel and Hezbollah. In the US, the S&P 500 has risen for seven consecutive days, marking its 52nd record this year, driven by gains in software companies like Microsoft, while automakers faced declines due to their exposure to Mexico and China.
Bank of England Deputy Governor Clare Lombardelli emphasized the need for more evidence of declining price pressures before supporting another interest rate cut. In a recent interview, she also highlighted concerns about potential threats to UK growth from a global trade war, particularly in light of US President-elect Donald Trump's tariff threats against Canada, China, and Mexico.
French Prime Minister Barnier faces a potential government collapse as he seeks to pass his budget using a constitutional maneuver that could invite no-confidence motions. The far-right National Rally, led by Marine Le Pen, threatens to support such a motion unless Barnier abandons proposed tax increases and spending cuts. This political turmoil could trigger a eurozone crisis amid economic challenges in Europe.
A rally in bank stocks since late September may compel major US banks to reduce their activities in the repurchase agreement and foreign exchange derivatives markets. This is due to the impact of share prices on regulatory scores for globally systemically important banks, which determine required capital reserves. As year-end approaches, banks typically scale back these activities to lower potential scores and associated capital requirements.
Volkswagen Group is reconsidering its strategy for the US market, with plans for its Cupra brand shifting from an all-electric lineup to include gasoline and plug-in hybrid vehicles. The company is exploring a partnership with Penske Automotive Group to establish a sales network, as it aims to strengthen its presence amid changing consumer preferences and regulatory challenges.
The Canadian dollar may decline further if US President-elect Donald Trump follows through on his threat to impose 25% tariffs on Canadian goods, according to CIBC. The loonie could test its pandemic-era low of C$1.4668, but relief is expected in the second half of 2025.
Auto insurance costs are expected to rise further due to new tariffs proposed by President-elect Donald Trump. Approximately 60% of car replacement parts in the U.S. are imported, primarily from Mexico, China, and Canada. Increased tariffs will elevate parts costs, which constitute about 40% of average repair bills, leading insurers to raise rates.
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