Daily Market Summary 30 November 2023

Central Bank News
① the U.S  treasury yield on the 10-year fell 4 basis points to 4.348% after falling to 4.332%, its lowest since Sept 20. Meanwhile, the two-year, which typically moves in step with interest rate expectations, was down 9 basis point to 4.765% on the session.
②Bank of England (BOE) Governor Andrew Bailey said getting inflation down to the central bank's 2% target will be "hard work" as most of its recent fall was due to the unwinding of the jump in energy costs last year.
③China's central bank said on Monday that it expects the annual GDP growth target of around 5 percent will be reached.


Gold Futures News
①Front Month Comex Gold for December (new front month) delivery gained $7.10 per troy ounce, or 0.35%(rounded) to $2047.10 today.
②Front Month Comex Silver for December (new front month) delivery gained 13.70 cents per troy ounce, or 0.55%(rounded) to $25.072 today.
③The most-actively traded gold futures contract on Tuesday rose 0.3% to $2,067.10 a troy ounce, settling at the highest level since its record close of $2,069.40 hit in August 2020.



Crude Oil News
① Stocks of crude oil in the US dropped by 0.817 million barrels in the week that ended November 24^th, 2023, following 1.335 million barrels jump in the previous week. 
②Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.56, or 2%.
③Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.3%, to $77.68 a barrel.
④The oil market has been pricing in an OPEC-Oil rose today as investors digested the latest news. Still, it isn't a sure bet that an added cut would push up prices further amid better-than-expected supply growth in the U.S. and flagging demand growth in Europe and some emerging markets.

Economic News
①Black Friday e-commerce spending popped 7.5% from a year earlier, reaching a record $9.8 billion in the U.S.
②Data from the National Bureau of Statistics (NBS) showed, the 2.7% year-on-year rise sees profit growth narrow back to single-digits, following an 11.9% increase in September and a 17.2% gain in August, this indicates that China still faces deflationary pressure and will remain fragile until the end of the year.
③The Japanese government revealed that The Core Consumer Price Index (core CPI), a measure of inflation that does not include food prices, rose 2.9% year-on-year in October. Japan's inflation is higher than the 2% target of the Bank of Japan (BOJ).
④Financial News Agency the Times reported that Barclays Bank is considering plans to phase out thousands of investment banking clients as part of a strategic overhaul. This will help create profits and reduce costs by £1 billion.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!