- Wednesday's session on international financial markets brought further improvement in sentiment on Wall Street, substantial increases in precious metal prices and a rebound in cryptocurrencies.
- At present, the US100 is up 1%, driven by rebounding shares in Nvidia and other companies in the semiconductor and artificial intelligence sectors. Alphabet, on the other hand, is experiencing a downward correction.
- CD Projekt significantly exceeded market expectations in the third quarter of 2025, reporting a net profit of PLN 193.5 million against a forecast of PLN 159 million, i.e. almost 22% higher, and revenues of PLN 349.1 million instead of the expected PLN 325 million. EBIT of PLN 194.6 million, compared to the forecast of PLN 168 million, confirms the company's solid operating profitability and suggests that business growth and cost control exceeded analysts' earlier assumptions.
- Data on unemployment benefit claims in the US show a decline for the third week in a row. The market was surprised by the decline, as a slight increase had been expected. Order readings have stabilised in recent months in the range of approximately 3% increase/decrease. The increase in orders was in line with expectations, but this is a significant decline compared to the previous two readings.
- The British Prime Minister presented the main points of her budget, and the market reaction was moderately positive. After an initial decline, the bond market welcomed the news of greater-than-expected fiscal space for the UK, bond yields fell, and the pound reached its highest level of the day against the US dollar.
- The Reserve Bank of New Zealand (RBNZ) lowered its official cash rate (OCR) by 25 basis points to 2.25%, as expected, thus taking what is likely to be the final step in the easing cycle that began in 2024.
- The silver market is on the verge of a temporary structural problem, as Chinese metal reserves have fallen to their lowest level in a decade, while silver exports from China to London reached a record 660 tonnes in October, further exacerbating the situation in an already tense market. SILVER is up nearly 3% today.
- The weekly change in natural gas inventories in the US was -11B; the forecast was -5B; previously it was -14B. Natural gas inventories in the US are falling slightly faster than expected, but today's reading does not change the fundamental background of this market, which, despite the ongoing heating season, is in oversupply compared to the 5-year average.
- At the same time, crude oil stocks rose more than expected, adding to the existing oversupply of this commodity on the market.
- Bitcoin returns above £60,000 after a series of declines that recently pushed the cryptocurrency to its lowest levels since April this year.
- Antipodean currencies are performing best on the FX market today, while safe havens such as the US dollar and Japanese yen are struggling.
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