Morning Wrap (15.11.2024)

JP225

Indices

US2000

Asian markets traded cautiously after Fed Chair Powell's hawkish comments, with most indices keeping to tight ranges. Japan's Nikkei 225 rose 0.9% despite weak GDP, while China's CSI 300 edged lower. The ASX 200 gained 0.5%.
US indices were lower during Asian trading with Russel 2000 leading the losses (-0.63%), while Nasdaq 100 was down 0.51% and S&P 500 (-0.38%).
European indices are also set for lower open, with DAX40 trading 0.24% lower, while British UK100 (-0.19%).
Japan's Q3 GDP growth slowed to 0.9% YoY from 2.2%, though beating estimates slightly. Private consumption remained the main support while exports and capital spending weakened. Core CPI expected to cool to 2.2% in October.
Chinese October data showed mixed signals - retail sales beat expectations on Golden Week boost, but industrial production and fixed asset investment missed forecasts. Property investment decline deepened to -10.3% YTD.
Donald Trump's election victory continues to impact markets, with concerns over potential trade war with China affecting regional sentiment. Trump has proposed 60% tariffs on Chinese imports.
Wall Street futures declined after Powell warned strong economic data gives Fed more time before rate cuts. Markets now price only 61% chance of December cut, down from 85.7% yesterday.
Bitcoin retreated from record highs, falling 2.6% to $87,634 after hitting $93,226 earlier this week with Ethereum trading at $3060.
Dollar held near one-year highs while Treasury yields rose as markets scaled back rate cut expectations. USDJPY crossed 156 after weak Japanese GDP data raised dovish BOJ bets.
Oil prices declined with Brent at $71.91 and WTI at $68.08, set for weekly losses of 2.7% and 3.3% respectively. IEA warned of 2025 supply glut despite maintaining demand forecasts.
Gold steadied at $2,566 but headed for worst week since June 2021, down 4.3% as Trump victory and strong U.S. data dampened safe-haven demand.
Eli Lilly sued federal Health Resources and Services Administration over 340B drug discount program changes, following similar action by Johnson & Johnson.
Key events ahead: UK Q3 GDP, U.S. retail sales data, speeches from Fed's Collins, ECB's McCaul and Riksbank's Thedeen. Netflix streams Tyson vs Paul boxing match tonight.
Trade data showed Indonesia's exports rose 10.25% YoY in October on strong agriculture shipments, while Malaysia's Q3 GDP grew 5.3% YoY, matching estimates but down from Q2's 5.9%.

16 October 2025, 5:05 PM

Breaking: crude oil inventories above expectations 📌

16 October 2025, 3:36 PM

BREAKING: NATGAS declines after EIA data 📌

16 October 2025, 12:49 PM

DE40: Europe moves sideways, Nestle gains

16 October 2025, 10:07 AM

BREAKING: Eurozone trade balance mixed 💶

forex
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Morning Wrap (15.11.2024)

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