🌅 Morning Update (27.12.2024)

📈 Asian Markets:

🇯🇵 Japan: Nikkei soared +2.1% 📊, driven by stronger-than-expected Tokyo inflation data.

🇨🇳 China: CSI 300 rose +0.4% 📈, while 🇰🇷 South Korea's KOSPI tumbled -1.5% 📉 amidst political turmoil over the impeachment vote for acting president Han Duck-soo.

📊 Tokyo Core CPI:

Accelerated to 2.4% in December (vs 2.2% in November), fuelling expectations for a potential BOJ rate hike 📈. Some policymakers hinted action might come "in the near future" but timing remains uncertain 🤔.

💱 Currencies:

💹 JPY strengthened as Finance Minister Kato issued warnings against excessive moves, with USD/JPY easing 0.3% to 157.59.

The 🇺🇸 Dollar Index held near two-year highs, pressuring most Asian currencies 💵.

🇮🇳 USD/INR hit new record highs above 85.7 📉.

🏭 China's Industrial Profits:

Declined -7.3% YoY in November (improved from -10% in October).

The World Bank revised China's 2024 growth forecast upward to 4.9% 📈 but flagged challenges in household confidence and property markets 🏚️.

🛢️ Oil:

Steady: Brent at $72.76 & WTI at $69.61. Modest weekly gains expected on China stimulus hopes.

🏭 API data: U.S. crude inventories fell -3.2M barrels; EIA report awaited later today.

🏅 Precious Metals:

Gold: Flat at $2,633 but on track for a +0.3% weekly gain 📈.

Silver: Steady at $30.38.

Platinum: Unchanged at $954.50.

🪙 Bitcoin:

Holding around $96,000 📉 as traders take profits ahead of Friday’s massive options expiry 💥. Over $14B in Bitcoin options and $3.8B in Ethereum options set to expire, potentially sparking volatility 🚨.

🚗 BYD Controversy:

BYD faces backlash 🇧🇷 in Brazil as authorities uncovered human trafficking at a factory site, raising concerns about the EV giant's global expansion 🌍.

📌 Stay tuned for more updates! 🚀