Hong Kong

2024-11-12 22:03

IndustryMarket Wrap(11.12)
USD rises to 4-month peak vs major peers. Key factors: Investors betting on Trump administration policies Euro at 7-month low, yuan at 3-month low Potential Trump tariffs targeting Europe and China Trump's crypto stance: Vows to make US "crypto capital of the planet" Analyst Gautam Chhugani: "regulatory tailwind zone" Expectations of crypto-friendly SEC under Trump Dollar index up 0.38% to 105.83 (highest since July). Drivers: US equities, interest rates, and dollar pushing higher Reports of hawkish China policy team (Rubio, Waltz) Republican control of Congress Currency movements: Onshore yuan at 7.2378 (lowest since Aug 1) AUD down 0.45% to $0.6545 EUR at $1.0611 (lowest since late April) GBP down 0.36% to $1.2824 JPY at 154.04 per dollar Market expectations: Reduced likelihood of Dec Fed rate cut (69% vs 80% week ago) Inflationary tariffs and immigration policies German political uncertainty (Feb 23 elections) UK wage growth slowing, unemployment rising #ForexMarkets #TrumpEffect #BitcoinRally #DollarStrength #GlobalEconomics
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Market Wrap(11.12)
Hong Kong | 2024-11-12 22:03
USD rises to 4-month peak vs major peers. Key factors: Investors betting on Trump administration policies Euro at 7-month low, yuan at 3-month low Potential Trump tariffs targeting Europe and China Trump's crypto stance: Vows to make US "crypto capital of the planet" Analyst Gautam Chhugani: "regulatory tailwind zone" Expectations of crypto-friendly SEC under Trump Dollar index up 0.38% to 105.83 (highest since July). Drivers: US equities, interest rates, and dollar pushing higher Reports of hawkish China policy team (Rubio, Waltz) Republican control of Congress Currency movements: Onshore yuan at 7.2378 (lowest since Aug 1) AUD down 0.45% to $0.6545 EUR at $1.0611 (lowest since late April) GBP down 0.36% to $1.2824 JPY at 154.04 per dollar Market expectations: Reduced likelihood of Dec Fed rate cut (69% vs 80% week ago) Inflationary tariffs and immigration policies German political uncertainty (Feb 23 elections) UK wage growth slowing, unemployment rising #ForexMarkets #TrumpEffect #BitcoinRally #DollarStrength #GlobalEconomics
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