📉 Markets
Global markets are cautious as the Fed signals just 2️⃣ rate cuts for 2025 (down from 4️⃣ expected earlier). This hawkish tone sparked a risk-off mood, leaving most Asian indices with heavy weekly losses. U.S. futures 📉 extended declines after Congress rejected a Trump-backed spending bill, raising shutdown fears.
📈 Japan
🇯🇵 Japan's Nikkei and TOPIX rose 0.2%, defying the regional trend, even as November CPI data came in stronger than expected. BOJ Governor Ueda’s dovish tone suggests rate hikes could be delayed until late 2025. Core inflation remains above the 2% target, but spring wage talks are key to policy decisions.
🇨🇳 China
China's PBOC kept lending rates steady (1-year LPR: 3.1%, 5-year LPR: 3.6%). Chinese markets posted smaller weekly losses than peers, supported by optimism about Beijing's 2025 fiscal spending plans. However, limited monetary policy room due to yuan weakness suggests more fiscal stimulus ahead.
💲 Currencies
The dollar 💵 surged to a 2-year high of 108.43 on higher U.S. rates, while the yen weakened to 157.11/dollar. Japanese officials are "alarmed" and hint at possible intervention against speculative moves.
🛢️ Oil
Crude prices are down over 2% this week (Brent: $72.47, WTI: $68.99). Sinopec's outlook for China’s crude imports peaking by 2025 weighed on sentiment. JPMorgan forecasts a 2025 oil surplus of 1.2M bpd driven by strong non-OPEC+ supply growth.
🏅 Gold
Gold steadied near one-month lows at $2,596, set for a 2% weekly decline 📉 as dollar strength and the Fed’s outlook pressured prices. Markets now expect just one quarter-point rate cut in 2025.
🏛️ U.S. Politics
Congress faces a possible government shutdown 🕛 as lawmakers rejected a Trump-backed spending bill in a 174-235 vote. Funding runs out Friday, threatening holiday travel disruptions and federal services.
☕ Labour Action
Starbucks ☕️ workers strike across U.S. cities, with hundreds of stores potentially impacted by December 24. The union, representing over 10,000 baristas, cites unresolved wage and staffing issues after nine bargaining sessions since April.
💼 Corporate Moves
Berkshire Hathaway added $409M to its Occidental Petroleum stake, doubling down on Buffett's energy sector bet. Meanwhile, the Bank of Japan issued a critical review of former Governor Kuroda’s stimulus policies, highlighting limited effectiveness and potential lasting side effects.
🪙 Crypto
Cryptocurrencies end the week in the red. 📉
- Bitcoin: -2% to $96,600
- Ethereum: -3% to $3,368
📊 Stay tuned for more updates! 🌟
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