Morning wrap (26.11.2025)

Asian-Pacific indices are trading higher. Chinese indices are gaining between 0.15–0.40%, Japan’s JP225 is up 1.10%, and Singapore’s SG20cash is up 0.30%.
The strongest-performing currency is the New Zealand dollar after the RBNZ decision. The weakest is the Japanese yen. USDJPY is up 0.10% despite a weaker dollar, and NZDUSD is up 1.15%.
The RBNZ cut rates by 25 bp to 2.25%, but the message was clearly hawkish — the bank signaled the end of the easing cycle. The OCR is expected to remain near 2.25% until early 2026 and then rise to 2.65% by the end of 2027. This effectively closes the door to further easing.
AUD rises after another acceleration in inflation in Australia. Monthly CPI increased 3.8% y/y in October (vs 3.6% expected), the fastest in 10 months and the fourth consecutive acceleration since June. Chances of further RBA rate cuts are now minimal.
The PBOC set the yuan fixing at the strongest level since 14 October 2024, strengthening the currency.
Gold rebounds 0.54% to 4,150 USD per ounce. Tensions around Taiwan persist. China has accused Japan and Taiwan’s DPP of “provocations” in the Taiwan Strait, warning against external interference. Taiwan is preparing for a potential military conflict by 2027.

25 November 2025, 19:07

Daily summary: U.S. indices rise as the dollar softens ahead of the Thanksgiving holiday 🗽

25 November 2025, 17:58

EURUSD gains 0.4% rebounding from important support zone 📈

25 November 2025, 15:06

BREAKING: US Consumer Confidence and Richmond Fed much weaker than expected 📌

25 November 2025, 07:16

Economic Calendar: Markets Focus on US PPI and Retail Sales (25.11.2025)

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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Morning wrap (26.11.2025)

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