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Nov 30, 2023: Japan’s Nikkei 225 and South Korea’s KOSPI were the best performers in Asia in November as the prospect of a less hawkish Federal Reserve boosted risk assets across the region. But Chinese stocks lagged their regional peers for the month, hampered chiefly by concerns over slowing economic growth and laggard stimulus measures from Beijing. A string of weak economic readings from the country kept traders largely wary of local markets, as did concerns over a meltdown in the country’s property market. Other Asian bourses were set for strong gains in November, as less hawkish signals from the…

Nov 30, 2023: the flagship of the cryptocurrency fleet, is once again at the helm of market discourse as its price chart exhibits a tight trading pattern that teases the boundaries of a breakout. The resilient digital asset has been etching higher highs and lows, suggesting a bullish undertone amid broader market uncertainties. The current technical formation on the daily chart is reminiscent of a rising wedge, a pattern that often indicates a continuation or reversal based on the subsequent breakout. Bitcoin’s steadfast approach toward the upper resistance level signals an undercurrent of buying pressure that seeks to disrupt the…

Nov 30, 2023: Most Asian stocks kept to a tight range on Thursday after data from China pointed to sustained weakness in the region’s biggest economy, although most indexes were nursing strong gains for November. Easing fears of U.S. interest rate hikes, a dovish Bank of Japan and a touch of bargain buying were the key drivers of an Asian stock rally in November. But Chinese bourses largely lagged their peers in the month, on sustained concerns over a slowing economic recovery. China PMIs disappoint, stocks lag Asia in NovemberChina’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose slightly…

Nov 29, 2023: Oil edged higher on Wednesday as investors turned cautious ahead of a crucial OPEC+ meeting to decide output policy in the coming months, while a supply disruption caused by a storm in the Black Sea provided a lift for prices. Brent crude futures climbed 3 cents to $81.71 a barrel at 0625 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 17 cents, or 0.2%, at $76.58 a barrel. Both benchmarks gained about 2% on Tuesday on the possibility the Organization of the Petroleum Exporting Countries and allies such as Russia (OPEC+), will extend or deepen supply…

Nov 29, 2023: Gold prices rose in Asian trade on Wednesday, reaching a near seven-month high as a string of dovish signals from Federal Reserve officials ramped up bets on an early pivot by the central bank. A drop in the dollar- to near four-month lows, benefited the yellow metal, as did retreating U.S. Treasury yields. The 10-year rate fell to a two-month low in Asian trade. Caution before a string of key economic readings this week- from the U.S. and China- also kept safe haven demand for gold upbeat, especially as a several weak readings from Japan and the…

Nov 29, 2023: The U.S. dollar ticked up on Wednesday after falling to its lowest in more than three months on hopes that the Federal Reserve will soon be cutting rates. New Zealand’s dollar was one of the biggest movers, rising 0.49% to $0.6166, after the Reserve Bank of New Zealand on Wednesday held interest rates but warned that further policy tightening might be needed. The kiwi had surged more than 1% earlier in the session to a four-month high of $0.6207. Comments from Fed official Christopher Waller flagging a possible rate cut in the months ahead sent U.S. bond…

Nov 29, 2023: German shares led gains in Europe on Wednesday after data pointed to easing inflation in the most populous state in the country, boosting expectations that the European Central Bank will cut interest rates next year. The German DAX rose 1.0% to touch a four-month high after data showed consumer prices in the state of North Rhine-Westphalia fell 0.3% month-on-month in November and were up 3.0% year-on-year. The preliminary inflation figure for Germany will be released later in the day, while overall euro zone inflation numbers will be published on Thursday. European bond yields fell, with the benchmark…

Nov 29, 2023: Treasury yields and the dollar hit multi-month lows on Wednesday after a U.S. Federal Reserve official made fresh hints of interest rate cuts, while stocks were mixed globally. Fed funds futures rallied on the remarks to price in more than hundred basis points (bps) of cuts in 2024 and a 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and touched fresh lows in the Asia session. The two-year yield hit its lowest since mid-July at 4.69% and the benchmark 10-year yield fell 6 bps to its lowest since September at 4.28%. Euro…

Nov 28, 2023: Oil prices rose on Tuesday with the Brent benchmark rising above $80 a barrel, supported by expectations that the OPEC+ producer group may deepen and extend output cuts due to concern over softer global demand. OPEC+, which combines the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, will hold an online ministerial meeting on Thursday to discuss production targets for 2024. Brent crude futures were up 72 cents, or 0.9%, at $80.70 a barrel at 0921 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 69 cents, or 0.9%, at $75.55. “Barring any negative…

Nov 28, 2023: European stock markets traded lower Tuesday, continuing to trade in a subdued manner ahead of the release of the week’s key inflation data. At 03:05 ET (08:05 GMT), the DAX index in Germany traded 0.3% lower, the CAC 40 in France traded down 0.5% and the FTSE 100 in the U.K. fell 0.4%. Risk sentiment received a boost this month after data releases hinted at easing inflation, stoking expectations that central banks had reached their interest rate peaks. However, central bankers have been keen to express caution that the fight to contain price growth is not yet…