EUR/USD
1.15158
-0.010%
Gold
4047.21
-0.498%
Oil
57.868
-0.012%
USD/JPY
156.615
0.145%
GBP/USD
1.30972
-0.056%
GBP/JPY
205.125
0.089%
Real-time News
November 24th - Analysts show that in the 12 months to September, Australias trade deficit with the US narrowed to its lowest level in 21 years. Gold exports nearly increased tenfold, and beef exports climbed 47% during the same period. Economist James McIntyre wrote, "This is not the first time a small, open economy has unexpectedly benefited from competition with larger trading partners. Australias diversified commodity base positions it favorably in a changing global landscape." In the 12 months to September, Australia sold A$16.4 billion (approximately US$10.6 billion) worth of safe-haven gold to the US, compared to just A$1.6 billion the previous year. Australian beef producers, who had expected to be impacted by Trumps tariff policies, unexpectedly gained a relative advantage as major suppliers like Brazil faced higher tariffs. However, this boost may be short-lived, as the Trump administration has removed a key tariff on Brazilian beef. The positive effects of gold sales may be more lasting. McIntyre wrote that if gold prices remain high in 2026, gold exports will contribute an additional A$15 billion, equivalent to 0.5% of GDP.Indonesias state-owned oil company: Fuel retailer VIVO has agreed to purchase 100,000 barrels of gasoline from Pertamina.Euro Stoxx 50 futures extended their gains, rising 0.85%; UK FTSE 100 futures rose 0.63%; and German DAX futures rose 0.94%.On November 24th, Barclays Research pointed out that uncertainty remains surrounding the Federal Reserves interest rate decision next month, but Chairman Powell is likely to push the FOMC to cut rates. Based on recent speeches, Barclays believes that Governors Milan, Bowman, and Waller are likely to support a rate cut, while regional Fed Presidents Mussallem and Schmid prefer to keep rates unchanged. Recent statements from Governors Barr and Jefferson, as well as Goolsby and Collins, indicate that their stance is not yet clear, but they are more inclined to maintain the status quo. Governors Cook and Williams rely on data but seem more supportive of a rate cut. Barclays stated, "This means that before considering Powells position, there may be six voters who prefer to keep rates unchanged and five who prefer a rate cut." The bank added that Powell will ultimately lead the decision because the threshold for governors to publicly oppose his position is very high.The World Bank has raised its 2025 economic growth forecast for Kenya to 4.9%, citing a recovery in the construction sector.
