Global Markets Rise, Tracking Wall Street Gains Ahead of Thanksgiving

Spot gold prices have edged higher amid rising expectations for a Federal Reserve interest rate cut, following dovish comments from policymakers, as reported by ANZ. This upward movement reflects a growing sentiment among investors seeking safe-haven assets in uncertain economic conditions.

Wall Street concluded the trading session on a high note, driven by increasing expectations for a Federal Reserve interest rate cut in December. This positive sentiment was reflected in the performance of major indices, particularly following a rebound in technology stocks.

Asian stocks rose as they followed Wall Street's upward trend, driven by increasing expectations for interest rate cuts by the Federal Reserve. This rally reflects a broader recovery in global equities, with Bitcoin trading above $90,000 after recent volatility.

Global transactions valued at $10 billion or more reached a record 63, driven by deregulation under former President Trump and diminishing trade war concerns, leading to a surge in mergers and acquisitions on Wall Street.

Kevin Hassett has emerged as the leading candidate for the position of Federal Reserve Chair, a development that could influence the U.S. dollar's value according to investors. This news follows reports of increased expectations for a potential interest rate cut by the Fed, which could further impact market dynamics.

U.S. Treasury yields remained mixed as markets approach the holiday season, with traders increasingly betting on a potential interest rate cut by the Federal Reserve in December. This sentiment reflects a cautious optimism among investors amid ongoing economic uncertainties.

Kevin Hassett, a longtime advisor to former President Donald Trump, has reportedly emerged as the leading candidate for the position of Federal Reserve chair, with Treasury Secretary Scott Bessent indicating a potential announcement by Christmas. This development highlights the ongoing discussions surrounding the future leadership of the Fed and its implications for U.S. monetary policy.

Asian foreign exchange markets remained steady as expectations for interest rate cuts by the Federal Reserve increased, with the Australian dollar gaining on strong Consumer Price Index (CPI) data and the New Zealand dollar rising following the Reserve Bank of New Zealand's (RBNZ) decisions.