News

As consumers find their next grocery obsession in fiber, food and beverage companies are racing to keep up with the trend.

• India’s inflation rate increases to 0.71% in November, but the Rupee continues to bleed
• Interest rate expectations turn more hawkish for most major central banks except the Fed
• Gold extends gains after key technical breakout, putting all-time highs in sight
• Nifty 50 recovers some losses on dovish Powell, but it’s not out of the woods just yet
• The British Pound falls on weaker than expected GDP data sealing the case for a rate cut
• FX option expiries for 12 December 10am New York cut
• What are the main events for today?

It’s been a very light session in terms of data releases and newsflow. The main highlight was the UK GDP which missed expectations and weighed on the pound. Traders added to BoE rate cuts bets, increasing the total easing by the end of 2026 from 57 bps to 61 bps.

We also got the final CPI readings for Germany, France and Spain but there were no surprises there as the data came out in line with the preliminary figures.

The most notable mover in the session was gold. The precious metal continues to rally after yesterday’s key technical breakout, and it’s now getting very close to the all-time high set in October. The fall in real yields following Powell’s dovish tone is a good tailwind.

In other markets, US equities continue to mostly range, while maintainig a bullish bias. The bear-steepening in US Treasuries has resumed after Powell’s press conference, with the 10Y-2Y spread close to breaking the April 2025 highs.

The US dollar recovered some of yesterday’s losses, although it looks more like a technical pullback given the lack of catalysts today. We might even see some pullbacks before the NFP given the expected high volatility.

In the American session, we don’t have anything on the agenda other than a couple of Fed speakers. Wish you all a nice weekend!

This article was written by Giuseppe Dellamotta at investinglive.com.

Single-stock ETFs now have a total of around 377 U.S. products — 276 of which have launched in 2025, as of Dec. 9, according to Morningstar.

USD/JPY trades offered but lacks follow-through, as markets near full pricing of a 25bps BOJ hike on 19 December. Near-term support lies at 155.10–153.90, while any meaningful JPY recovery would require stronger guidance from the BOJ, fiscal prudence, and a softer USD.

USD recovered some of yesterday’s losses and trading close to the middle of its range in place since June. The MSCI All Country World Index rallied to a record high yesterday underpinned by Fed easing and resilient global economic activity.

United Kingdom NIESR GDP Estimate (3M): -0.1% (November) vs previous 0%

Mexico Industrial Output (YoY) registered at -0.4% above expectations (-2.4%) in October

Consumers are turning to AI chatbots like ChatGPT for gift discovery, reviews and price matching, potentially driving billions in sales this holiday season.

Gold (XAU/USD) extends its advance on Friday as expectations build for further monetary policy easing by the Federal Reserve (Fed) after this week’s interest rate cut. At the time of writing, XAU/USD is trading around $4,337, just shy of its all-time high near $4,381, marked on October 20.

KEY POINTS:

• India’s inflation rate Y/Y increased to 0.71% vs 0.70% expected in November
• The prior release saw inflation falling to a record low of 0.25%
• The RBI’s inflation target is 4% with a +/-2% tolerance band
• Inflation remains far below the central bank’s target

INFLATION REPORT:

India’s inflation rate increased to 0.71% in November after falling to 0.25% in October. The Ministry of Statistics and Programme Implementation noted that the increase in headline inflation and food inflation during the month of
November was mainly attributed to increase in inflation of Vegetables,
Egg, Meat and fish, Spices and Fuel and light.

Food makes up the largest share of India’s Consumer Price Index (CPI) basket (typically around 46%). This means that swings in food inflation influence significantly overall inflation. A government review might lower slightly the weight in the upcoming revision in January 2026.

MARKET REACTION:

The INR strengthened a bit following the release but quickly gave back the gains and extended the losses against the US dollar as the USD/INR pair continues to push into new record highs.

Next week, we have the US NFP and CPI reports. Right now, the market is leaning on the dovish side for the Fed, so a surprisingly strong employment report should trigger a hawkish repricing and give the US dollar a boost.

The big picture trend remains heavily skewed to the upside and probably only a major positive breakthrough on the US-India trade front could give the Indian Rupee a strong short-term boost.

This article was written by Giuseppe Dellamotta at investinglive.com.