🌅 Morning Update: 17.12.2024 📊

🌍 Global Markets: Investors tread cautiously ahead of central bank decisions. The Fed's Wednesday meeting takes centre stage, with a 94% chance of a 25bps rate cut priced in. However, slower easing is expected in 2025. 🇺🇸 US futures dip slightly despite tech-driven gains overnight.

📉 Asia Mixed:

• 📊 Nikkei +0.3%
• 📉 Hang Seng -0.5%
• 🇨🇳 China data disappoints: Industrial output met expectations, but retail sales slowed sharply. Property woes persist despite stabilised home prices.

🏛️ China: Plans a record 4% GDP deficit for 2025 (up from 3%) to spur growth amid challenges. Leadership sticks to a 5% growth target despite the property crisis and risks like potential Trump tariffs.

💰 Crypto:

• 🚀 Bitcoin smashes records at $107,767 following Trump’s Strategic Reserve proposal, despite implementation hurdles.
• 📈 MicroStrategy’s inclusion in the Nasdaq 100 fuels bullish sentiment.
• 🚀 ETH nears its all-time high at $4,011.

🌏 Political Unrest:

• 🇰🇷 South Korea: President Yoon impeached over martial law decree.
• 🇩🇪 Germany: Parliament withdraws confidence in Scholz’s government.
• 🇨🇦 Canada: Finance Minister Freeland resigns amid rising US trade tensions.

💹 Central Banks:

• 🇯🇵 BOJ expected to hold rates this week (91% surveyed), but most anticipate hikes within 3 months.
• 🇮🇩 Indonesia & 🇹🇭 Thailand hold steady; 🇵🇭 Philippines likely to cut.

💵 Currencies:

• The Dollar firms near 2.5-week highs 📈 as markets await Fed guidance.
• Euro: $1.05002, Yen: 154.06, Sterling bounces 📊 ahead of UK labour data.

🛢️ Commodities:

• 🛢️ Oil dips: WTI $70.60, Brent $74.08 as China demand concerns offset OPEC+ cuts.
• ⚠️ IEA warns of a 950,000 bpd surplus in 2025 despite supply constraints.

🏢 Corporate News:

• 🛒 Alibaba to sell its Intime stake for $1 billion, recording a $1.3 billion loss as part of strategic restructuring. Shares fall 1.5% in Hong Kong.

📅 Data to Watch Today:

• 🇬🇧 UK Wage Data
• 🇩🇪 German Ifo Expectations & ZEW Economic Sentiment for December

Stay tuned and trade smart! 📈🚀