Today, Wednesday, December 4, 2024, global financial markets witnessed remarkable movements in various sectors:
Stock markets:
• United States: US stock indices rose, with the S&P 500 up 0.24% to $603.91.
• Europe: European stocks were mixed, with the Stoxx 600 up 0.6%, supported by gains on some major exchanges.
• Asia: Japan's Nikkei index fell as the yen rose, amid expectations of a hike in interest rates.
Currencies:
• US Dollar: The dollar fell slightly against a basket of major currencies, supporting gold's rise.
• Chinese Yuan: Expectations of a 10% to 15% devaluation of the Yuan if high tariffs are imposed on Chinese goods by the United States.
Goods:
• Gold: Gold prices rose 0.61% to $2,681.00 per ounce, supported by a weaker dollar and increased demand for safe havens.
• Oil: Oil prices were mixed, with West Texas Intermediate crude falling 1.05% to $68.00 a barrel, amid accusations between Israel and Hezbollah.
Other economic news:
• European Central Bank: Expectations of a 0.5% interest rate cut in December, in response to the economic slowdown in the European continent.
• Emerging Markets: Expect large flows from the US dollar into the euro and emerging market currencies, driven by the strong performance of US stocks.
Markets continue to react to global economic and political developments, affecting the movements of various assets.
