Europe At a Discount to Global Peers: 27 November 2024
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Market Mood
November's flash PMI data revealed strong economic activity in the U.S., driven by rising demand and renewed confidence following the presidential election, with optimism bolstered by expectations of a business-friendly administration and potential interest rate cuts. Inflationary pressures eased significantly, with minimal price growth for goods and services, while upcoming GDP, PCE inflation data, and FOMC minutes will provide further economic insights. In contrast, Europe faces growing challenges as economic weakness spreads from manufacturing to services, though modest price growth leaves room for potential rate cuts. In Asia, key data releases, including China's PMI, are awaited to assess the impact of stimulus measures and trade uncertainties, shaping the region's response to global economic pressures.