MHMarkets：November 27, 2023,--Fundamental Reminder

19:00 GBP CBI Distributive Trades (NOV)

22:00 EUR ECB President Lagarde Speech

23:00 USD New Home Sales (OCT)

23:30 USD Dallas Fed Manufacturing Index (NOV)

Market Overview

Review of Global Market Trend

Last Friday, the U.S. dollar index shocked downward in the U.S. plate once fell to 103.35 intraday low, and finally closed down 0.32% at 103.41. 10-year U.S. bond yields closed at 4.472%; on the Fed's policy rate is more sensitive to the two-year U.S. bond yields stabilized above the 4.9%, and finally closed at 4.955%. 

Spot gold continued the upward trend, and in the U.S. trading session broke through the $2,000 mark, and eventually closed up 0.48% at $2002.61 per ounce; spot silver in the U.S. market before the sharp rise, and eventually closed up 1.88% at $24.32 per ounce.

Perhaps because the Middle East geopolitical risk has declined, the two oil are down more than 1%. WTI crude oil in the U.S. trading session dive, and once fell to $75.13 intraday lows, and ultimately closed down 1.56% at $75.13 per barrel; Brent crude oil plate once down to $80 mark, and ultimately closed down 1.17% at $80.10 per barrel. But the two oils closed lower on a weekly basis for the first time in five weeks.

U.S. stocks closed early on Friday for Thanksgiving, with the Dow closing up 0.33%, the S&P500 up 0.06%, and the Nasdaq down 0.11%. IRBT.O closed up nearly 40% after news that the European Union's antitrust authorities will unconditionally approve Amazon's $1.4 billion acquisition of iRobot, and NVDA.O closed down 1.93%. The Nasdaq China Golden Dragon Index closed up 1.62%, led by TAL.N, which rose 15.63%, and XPEV.N, which gained 6.14%.

All major European stock indexes closed higher. Europe's Stoxx 50 index closed up 0.25%, Germany's DAX 30 index closed up 0.22%, Britain's FTSE 100 index closed up 0.06%.

Institutional Perspective

01

JP Morgan

【JP Morgan: BOE expected to cut rates for the first time in Q4 2024】

JP Morgan said it now expects the BOE to cut interest rates by 50 basis points in the fourth quarter of 2024, compared with its previous expectation that it will keep rates at current levels throughout 2024. JP Morgan economist Alan Monks said the current pace of labor market slowdown suggests the BOE may ease monetary policy a bit earlier. However, most of the normalization of monetary policy is expected to occur in 2025.

02

Westpac Bank

【Westpac Bank: Australia's low economic growth trend will continue】

Australia's Leading Indicator of Economic Activity now suggests that the country's low growth pattern in 2023 will continue into 2024. Westpac Bank's leading indicator growth rate has fallen to -0.40%. The data shows a further cooling of the Australian labor market, which has unsettled financial markets and shaken investor confidence. Matthew Hassan, senior economist at Westpac Bank, said the leading indicator suggests little change in economic underperformance going forward.

03

Bank of America

【Bank of America: Investors poured $40 billion into the stock market in the last two weeks】

Investors poured $40 billion into the stock market in the most recent two weeks, the largest two-week inflow since February 2022, Bank of America said.