A volatile Asian session followed a sudden declaration of martial law in Korea, which was later revoked by a unanimous 190-0 vote by the National Assembly. However, this has prompted the opposition to push for the impeachment of the president.
In other news, Australia’s Q3 GDP grew by 0.3% quarter-on-quarter, compared to the expected 0.5% and 0.2% prior. Although a weaker print, this outcome was well-anticipated. Meanwhile, the Caixin China Services Purchasing Managers’ Index fell to 51.5 in November, down from 52.0 the previous month.
Marketwise:
- The yield on 10-year Treasuries advanced by one basis point to 4.23%.
- Spot gold rose 0.2% to $2,649.37 an ounce.
- Oil rallied above $70 per barrel.
- Bitcoin rose 0.3% to $96,410.09, while Ether increased by 1.6% to $3,672.72.
- Currency pairs opened as follows: EUR/USD at 1.0515, GBP/USD at 1.2690, and USD/JPY at 150.30.
Data wise, key events include:
- S&P Global Eurozone Services PMI and PPI.
- ADP Employment Change.
- U.S. Factory Orders and Durable Goods data.
Additionally, there are speeches scheduled from Bank of England's Governor Bailey, the Federal Reserve’s Chair Jerome Powell, and Federal Reserve member Alberto Musalem. The highlight of the day will be the Fed’s Beige Book.
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