Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
White House Warns Staff Over Insider Trading Amid Suspicious Oil Market Bets 
Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
Colombia and Ecuador Trade War Escalates With Retaliatory Tariffs 
Federal Reserve Probes Big Banks Over Private Credit Exposure Amid Growing Systemic Risk Concerns 
U.S. Natural Gas Market Faces Short-Term Pressure but Long-Term Demand Surge 
China Set to Exit Deflation Cycle in Early 2026, ANZ Analysts Say 
Trump Slams Iran Over Strait of Hormuz Oil Restrictions Amid Fragile Ceasefire 
Spain's Sanchez Visits China to Deepen Trade Ties Amid U.S. Tensions 
Asia FX Weekly Gains Hold Amid U.S. Inflation Data and Iran Ceasefire Uncertainty 
China's Factory-Gate Prices Rise for First Time in Over Three Years Amid Global Cost Pressures 
Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions 
Middle East Conflict Threatens Global Economic Stability, World Bank Warns 
Asian Stocks Rally on Ceasefire Hopes and Bargain Buying 
U.S. Futures Slip as Iran Ceasefire Uncertainty and CPI Data Weigh on Markets 
U.S. Blockades Strait of Hormuz as Oil Prices Surge Past $100 
US dollar gained momentum after better than expected US ISM manufacturing PMI . It hits a high of 106.73 and is currently trading around 106.52.
Manufacturing Insights: Signs of Improvement Amid Contraction
The US ISM Manufacturing PMI for November 2024 rose to 48.4, up from 46.5 in October, showing slight improvement but still indicating contraction for the eighth month. The New Orders Index increased to 50.4, suggesting weak growth, while the Employment Index improved to 48.1. Price pressures eased, with the Prices Paid Index dropping to 50.3. Overall, the US Dollar strengthened following these mixed but hopeful manufacturing reports.
Political Crisis in France: Euro Faces Headwinds
Euro lost its shine amid France's political crisis. It is facing a serious political crisis with Prime Minister Michel Barnier's minority government at risk of collapsing due to a no-confidence vote.
His proposed €60 billion budget to reduce the deficit is encountering strong opposition from both right and left-wing parties. To bypass this, Barnier used a controversial method to pass a social security budget, prompting more opposition challenges. The political turmoil has raised concerns about France's financial stability, affecting its bond yields and raising questions about future governance.
