HFMarkets (hfm.com): New market analysis services.

[HFM]

Date: 27th November 2024.


S&P500 at its 52nd new peak for 2024; USD Firmer, Kiwi & Yen Up.





Asia & European Sessions:


*Wall Street rallied into the close with the S&P500 and Dow registering more record highs with the S&P500 climbing 0.57% to 6045, its 52nd new peak for 2024. The Dow rose 0.28% to 44,860.3 for its 46th record of the year. The NASDAQ advanced 0.63%.
*Trump named Jamieson Greer as the US Trade Representative and Kevin Hassett to direct the National Economic Council. Greer was intimately involved in Trump’s first-term trade policy decisions.
*President Biden announced Israel and Hezbollah have reached a cease fire. Over the next 60 days the Lebanese army and state security will take control of their own territory and Israel will gradually withdraw its forces.
*FOMC minutes: Minutes from the Fed’s latest policy meeting revealed officials leaning toward a cautious approach to future rate cuts. All agreed to cut the rate by -25 bps and nearly all thought risks between achieving employment and inflation goals were “roughly in balance.” Upside risks to the inflation outlook were little changed, and while inflation had eased, it remained elevated. The implied December rate continues to hover around a 50-50 bet as we await the PCE price data Wednesday and the crucial jobs report on December 6. The January 2025 rate is priced for a total of 20 bps in cuts, with -75 bps by January 2026.
*RBNZ cut its cash rate by 50 bps, yet the Kiwi gained as traders analyzed the central bank’s rate outlook and the governor’s remarks.
*Chinese government approved a 500 billion yuan ($69 billion) bond quota, enabling two state-owned asset managers to issue bonds for funding projects aimed at spurring economic growth.
*Today: US inflation and economic growth may provide clues to the Federal Reserve’s next policy move.





Financial Markets Performance:


*The USDIndex has dropped to currently 106.459.
*The Yen climbed with USDJPY pulling back to 151.82, while NZDUSD jumped to 0.5900 despite the RBNZ’s 50 bps rate cut.
*Oil prices stabilized at $68.84, with optimism over delayed OPEC+ output increases balancing the reduced geopolitical risk stemming from the ceasefire.
*Gold rebounds to 2653.54, with next Resistance at 2660-2664.


Always trade with strict risk management. Your capital is the single most important aspect of your trading business.


Please note that times displayed based on local time zone and are from time of writing this report.


Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work.

Andria Pichidi
HFMarkets

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.