Wall Street Futures Steady as Markets Await Fed Decision; Nvidia Gains on China Chip Sales Approval 
Oil Prices Dip as Markets Watch Ukraine Peace Talks and U.S. Rate Decision 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
China Warns of Rising Global Risks as Tariff Pressures Intensify in 2025 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
U.S. Economic Outlook 2026: Growth Seen Strengthening as Fiscal Support Ramps Up 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Australia’s Business Conditions Ease in November as Capacity Constraints Persist 
Silver Prices Surge to New Record Above $60 as Supply Concerns and Fed Expectations Boost Demand 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Oil Prices Hold Steady as Markets Track Ukraine Peace Talks and U.S. Rate Decision 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Australian Dollar Rises as RBA Holds Rates and Signals Persistent Inflation Risks 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Australian retail sales data released today shows a month-on-month increase of 0.6% for October 2024, exceeding market predictions of a 0.3% rise. This marks the third month in a row that retail sales have grown, following a slight increase of 0.1% in September and a stronger 0.7% in August.
Key Highlights:
Year-on-Year Growth: Retail sales were up 3.4% compared to October 2023, a significant jump from just 1.2% growth the previous year.
Sector Performance: The growth was mainly driven by increased household goods and dining out spending.
Regional Variations: Sales growth differed across states. New South Wales and South Australia had positive development, while regions like Victoria and Tasmania saw declines.
This positive trend in retail sales is viewed as a good sign for consumer confidence and might affect the Reserve Bank of Australia's future decisions regarding interest rates.
AUDUSD Levels to watch -
Resistance- 0.6550/0.6600/0.6685
Support- 0.6480/0.6430/0.6400
