Central Bank News

① The Bank of Korea (BOK) held its key policy rate (KROCRT=ECI) at 3.50% at a policy review meeting in Seoul.
② Annual inflation in the euro zone cooled to 2.4% in November from 2.9% in October.
③ BlackRock Inc. says market optimism over the scope of interest-rate cuts next year.
④ CME Group's FedWatch Tool indicates that investors give 97.5% weight to the expectation that the Fed will maintain interest rates at 5.25-5.50% at the meeting on Dec. 12-13, 2023, and 83.8% weight at The Fed will maintain interest rates in January 2024.

Gold Futures News

① Front Month Comex Gold for December delivery lost $5.60 per troy ounce, or 0.28% to $2018.50 today.
② Front Month Comex Silver for December delivery lost 35.40 cents per troy ounce, or 1.44% to $24.201 today.
③ Gold futures fell on Tuesday as the dollar rose, with the metal remaining below the record high set on Friday. Gold for February delivery closed down US$5.90 to settle at US$2,036.30. The price of the precious metal closed at a record US$2,089.60 on Friday.

Crude Oil News

① Stocks of crude oil in the US rose by 0.594 million barrels in the week that ended December 1st, 2023, following 0.817 million barrels decrease in the previous week and compared to market expectation of 2.267 million barrels decline.
② Brent Crude Oil decreased below 77, according to trading on a contract for difference (CFD).
③ Oil futures finished Tuesday at their lowest since July, with skepticism over the ability of OPEC+ to deliver on additional production cuts early next year prompting prices to extend their streak of declines into a fourth straight session.
④ The WTI crude oil contract will be delivered in January. fell 72 cents, or 1%, to close at $72.32 a barrel.

Economic News

① The Australian economy saw its eighth straight growth in the third quarter but the expansion has slowed over the year. Seasonally adjusted gross domestic product rose 0.2% in Q3, driven by government spending and capital investment, according to data released Wednesday by the Australian Bureau of Statistics. On an annual basis, Q3 GDP rose 2.1%.
② The Logistics Manager’s Index in the United States fell to 49.4 in November of 2023 from 56.5 in October which was the highest in nine months.
③ China hopes to boost relations with the European Union at an upcoming summit, the 24th China-EU Summit will be held in Beijing on Thursday 7 December with a firm focus on pragmatic cooperation in the face of complex situations and severe challenges.
④ China and broader emerging Asia market stocks were among the most net sold regions by global hedge funds in November.
⑤ Moody's lowered the 'outlook' on China's A1 debt rating to "negative" from "stable"
less than a month, meanwhile real estate pressures increase.

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