Financial News

Increasing scrutiny of the US digital asset space and the SEC countered the positive effects of dovish FOMC projections to leave cryptos in the red.

Scope Ratings’ baseline for 2024 is for a soft landing for the global economy, a turn of the global rate cycle, fiscal pressure, and ongoing geopolitical risk.

The manufacturing sector remains under pressure as factories reduce production.

Empire State Survey shows New York manufacturing decline with falling orders and shipments, maintaining a bearish outlook.

Following the inflation numbers from the weekend, economic indicators from China revealed an uptick in economic activity midway through Q4 2023.

European Central Bank noted that current interest rates would push inflation towards the 2% target if they are maintained for a sufficiently long duration.

The federal funds rate projection for 2024 was changed from 5.1% to 4.6%.

November’s steady PPI and stable Core PPI highlight market equilibrium amid contrasting sector-specific trends in the U.S. economy.

Inflation is above Fed’s 2% target, so it remains to be seen whether Fed will signal that it is ready to cut rates in the first half of the next year.

November CPI up 0.1% with core CPI rising 0.3%, showing shifts in US inflation led by housing, healthcare, and energy declines.

With central banks deliver policy decisions, economic indicators from China, the Eurozone, the UK, and the US will also need consideration.

The crypto market continued to respond to BTC-spot ETF-related news, countering anti-crypto rhetoric from Capitol Hill.

The report indicated that year-ahead inflation expectations declined from 4.5% to 3.1%.

November’s nonfarm employment rose by 199,000, unemployment dipped to 3.7%, and wages grew to $34.10, signaling economic strength.

Natural gas prices remain under pressure as traders remain focused on bearish weather forecasts.

US unemployment claims rise to 220,000 with the four-week average reaching a yearly high of 1,872,250.

China’s trade data sent mixed signals today. An unexpected fall in imports could suggest a weakening demand environment, putting the spotlight on Beijing.

Oil prices remain under pressure as gasoline inventories increased by 5.4 million barrels.

U.S. private sector added 103,000 jobs in November, falling short of the 131,000 job market expectation.

Treasury yields tested new lows after the release of the report as traders bet on a more dovish Fed.