Key Takeaways
- 💵 Dollar rose to a four-month peak against major peers
- 📈 Bitcoin extended its record rally
- 🇨🇳 Yuan slumped to its lowest in more than three months due to potential Trump tariffs
- 🇪🇺 Euro languished at a seven-month trough due to political pressures in Germany
- 🇺🇸 U.S. equities, interest rates, and dollar continue to rise
- 🤝 Trump expected to appoint China hawkish officials
- 🏦 Market paring back likelihood of Federal Reserve rate cut
- 🇬🇧 Sterling fell after UK wage growth slowed
- 🔒 Expectation of a crypto-friendly regulatory environment under the incoming Trump administration
- 📈 U.S. dollar index rose to 105.83, highest since early July
- 🇨🇳 Trump’s appointments suggest a hardline policy towards China
- 💸 Markets are reconsidering the likelihood of a Fed interest rate cut in December
- 💼 Volare increases its stake in Sabana Reit to 19.79%
- 📉 Quarz Capital reduces its stake in Sabana Reit to 12.3%
- 💰 Shares were sold at about S$0.35 apiece
Market Trends in Currency and Stocks
The market saw significant movements in various currencies and stocks recently. The U.S. dollar reached a four-month peak against major peers, while Bitcoin continued its record rally. The yuan and euro both faced challenges, with the yuan slumping due to potential tariffs by the Trump administration and the euro experiencing political pressures in Germany. On the other hand, U.S. equities, interest rates, and the dollar are on the rise, with markets reevaluating the likelihood of a Federal Reserve rate cut. Additionally, expectations of a crypto-friendly regulatory environment under the incoming Trump administration are impacting the cryptocurrency market positively.
Trump Administration’s Impact on Global Markets
Market dynamics are also influenced by expectations surrounding the Trump administration. Appointments of China hawkish officials suggest a hardline policy towards China, impacting the yuan’s performance. Moreover, uncertainties surrounding potential tariffs and immigration policies are leading markets to reassess the possibility of a Fed interest rate cut in December.
Investments in Reits
Aside from currency and stock market movements, specific investments in Real Estate Investment Trusts (Reits) have been highlighted. Volare increased its stake in Sabana Reit to 19.79%, while Quarz Capital reduced its stake to 12.3%. This shift in positions affected the selling price of shares, which were sold at about S$0.35 apiece.