Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Japan’s Service Sector Sustains Growth Momentum in November 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Australian consumer sentiment surged in November, signaling renewed optimism about the nation’s economic outlook and household finances. According to the latest Westpac-Melbourne Institute survey, the consumer sentiment index jumped 12.8% in early November — its strongest gain in years and the first positive reading since early 2022. Analysts noted that, excluding the COVID-19 period, this marks the highest level of consumer confidence seen in seven years.
The sharp improvement reflects growing confidence in Australia’s economic stability over the next five years, driven by stronger consumer demand and a rebound in the housing market. A key factor supporting sentiment was the easing of U.S.-China trade tensions, which helped boost global trade confidence. New trade agreements between Australia and the United States further strengthened the outlook for exports and investment, adding to the positive momentum.
Despite the Reserve Bank of Australia’s (RBA) decision to keep interest rates steady in November, consumer optimism remained largely unaffected. Westpac economists observed that the RBA’s neutral tone on inflation tempered concerns about further rate hikes, allowing consumer confidence to recover more quickly than expected. The survey also suggests that the RBA is likely to maintain its current rate settings in December as inflation pressures remain elevated.
While Australians are increasingly optimistic about future economic growth and job prospects, sentiment toward home buying remains subdued. However, expectations for house price growth remain high, reflecting sustained demand in key property markets.
The November rebound in consumer sentiment underscores renewed faith in Australia’s economic resilience and suggests households are feeling more secure about their financial futures — a positive sign for spending and overall growth heading into 2025.
