- USDIndex Reports of a more relaxed stance on the subject are pointing to a slightly lower 1-week. Covid emerging in China’s official rhetoricIt is the same as Keep the hopes alive that there won’t be a move back to tighter restrictions. All eyes are focused on Expected hawkish stance From the Chair Powell’s Speech today.
- Stocks – The Nikkei Closed with a loss of 0.2% ASX We managed to achieve a gain of 0.4% Hang Seng And CSI300 They are currently at 1.1% and 0.1%, respectively. GER40 And UK100 Futures are up 0.6% & 0.4%, respectively. The US futures are still underperforming but showing slight gains. Wall Street closed mixed. NASDAQ Tech weakness and rise in yields led to a drop of -0.59%
- Japan’s In October, factory output dropped for the second month consecutively. China’s Factory activity declined at a faster rate in November due to softening global demand.
- JPY – is holding in the 138-139 range.
- USOil – Prior to the OPEC+ meeting of December 4, support was provided. The easing of China jitters lifted energy.
- AUD & NZD The worse than expected Chinese manufacturing survey results are causing downward pressure
- Gold – Gains up to $1757.
Today – Attention is on Powell’s speech later today, who is likely to reinforce yesterday’s hawkish Fedspeak from Williams, Bullard, and Mester who all…