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πŸ—“ Economic Calendar at 2025/12/02 (GMT)

01:00 πŸ‡ΊπŸ‡Έ ⚑️ Federal Reserve Chairman Jerome Powell Speaks

10:00 πŸ‡ͺπŸ‡Ί Consumer Price Index β€” Exp: 2.1% Actual: 2.1%

10:00 πŸ‡ͺπŸ‡Ί Consumer Price Index - Core β€” Exp: 2.4% Actual: 2.4%

22:00 πŸ‡¦πŸ‡Ί ⚑️ RBA Governor Michele Bullock Speaks


[Updated in real time]
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FxPro pinned Β«πŸ—“ Economic Calendar at 2025/12/02 (GMT) 01:00 πŸ‡ΊπŸ‡Έ ⚑️ Federal Reserve Chairman Jerome Powell Speaks 10:00 πŸ‡ͺπŸ‡Ί Consumer Price Index β€” Exp: 2.1% Actual: 2.1% 10:00 πŸ‡ͺπŸ‡Ί Consumer Price Index - Core β€” Exp: 2.4% Actual: 2.4% 22:00 πŸ‡¦πŸ‡Ί ⚑️ RBA Governor Michele…»
⚠️ USA β€” Federal Reserve Chairman Jerome Powell Speaks at 01:00 GMT
Crypto on thin ice

The crypto market is walking on thin ice, stabilising at levels just below $3T (+0.5% in 24 hours). However, this is a dangerous lull following a downward momentum, with the risk of reverting to a sell-off at any moment. All attention is now focused on whether the bulls in the crypto market will be able to defend the late November lows near $2.83T. The strength of the bears is evident in the fact that the market did not even linger at its 200-day average, as it did in the previous downturn at the end of 2021.

As in 2017, the influx of TradFi finance players did not help growth, contrary to expectations. Observers are now repeating the same mistake in assessing the impact of ETFs. In the long term, traditional finance is beneficial for cryptocurrencies when participants' views on the outlook become out of sync. This process has only just begun.

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The S&P 500 is gearing up for a Christmas rally

Rising US Treasury yields and renewed selling of cryptocurrencies have cooled demand in the S&P 500. The broad stock index took a step back after a five-day rally, but its outlook remains bullish. JP Morgan sees it rising to 7’500, while RBC Capital Markets forecasts growth to 7’750 by the end of 2026, driven by the strength of the US economy, corporate earnings, artificial intelligence, and further easing of the Fed's monetary policy.

At the end of the year, seasonal factors could play in favour of the S&P 500. According to CFRA research, since 1990, the market has most often grown in December, while average returns have been second, and volatility has been the second lowest. After Thanksgiving, it tends to grow. That's the good news. The bad news is that the scale of this growth is decelerating over time.

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The eurozone consumer price index rose to 2.2% in November, up from a previously expected 2.1%. Inflation has stayed close to this level for the past two years. Without any downward pressure on prices, the ECB is signalling a potential pause in rate cuts, which supports the euro.
Panic helped the dollar

Hassett's chances of becoming Fed chair are growing, and the FOMC may cut rates to 3% in 2026.

Europe is losing out to the US due to AI, while the BoJ's rate hike is raising concerns.

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πŸ‡ΊπŸ‡Έ US pre-market: Mostly positive πŸ“ˆ

In the Electronic Technology sector, NVIDIA (NVDA) shares are up 1.13%, while Apple (AAPL) shares are down slightly by 0.08%.

In the finance sector, JPMorgan Chase (JPM) shares are up +0.20%, while Berkshire Hathaway (BRK.B) shares are down 0.22%.

In the Technology sector, Meta Platform (META) shares are up 0.60%, while Microsoft (MSFT) shares are up 0.08%.

The predominant growth among the largest companies is helping to strengthen investor confidence and supporting the inflow of capital into dollar-denominated assets, which is creating positive expectations for the dollar amid steady investment flows.
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πŸ—“ Economic Calendar at 2025/12/03 (GMT)

00:30 πŸ‡¦πŸ‡Ί ⚑️ Gross Domestic Product β€” Exp: 0.7% | 2.2% Actual: 0.4% | 2.1%

01:45 πŸ‡¨πŸ‡³ Markit Services PMI β€” Exp: 52.1 Actual: 52.1

01:45 πŸ‡¨πŸ‡³ Markit Composite PMI Actual: 51.2

07:30 πŸ‡¨πŸ‡­ Consumer Price Index β€” Exp: -0.1% | 0.1% Actual: -0.2% | 0.0%

08:50 πŸ‡«πŸ‡· Services PMI β€” Exp: 50.8 Actual: 51.4

08:50 πŸ‡«πŸ‡· PMI Composite β€” Exp: 49.9 Actual: 50.4

08:55 πŸ‡©πŸ‡ͺ Services PMI β€” Exp: 52.7 Actual: 53.1

08:55 πŸ‡©πŸ‡ͺ PMI Composite β€” Exp: 52.1 Actual: 52.4

09:00 πŸ‡ͺπŸ‡Ί Services PMI β€” Exp: 53.1 Actual: 53.6

09:00 πŸ‡ͺπŸ‡Ί PMI Composite β€” Exp: 52.4 Actual: 52.8

09:30 πŸ‡¬πŸ‡§ Services PMI β€” Exp: 50.5 Actual: 51.3

09:30 πŸ‡¬πŸ‡§ PMI Composite β€” Exp: 50.5 Actual: 51.2

13:15 πŸ‡ΊπŸ‡Έ ⚑️ ADP Non-Farm Employment Change β€” Exp: 10K Actual: -32K

13:30 πŸ‡ͺπŸ‡Ί ECB President Christine Lagarde Speaks

14:15 πŸ‡ΊπŸ‡Έ Industrial Production β€” Exp: 0.1% Actual: 0.1%

14:45 πŸ‡ΊπŸ‡Έ Services PMI β€” Exp: 55.0 Actual: 54.1

14:45 πŸ‡ΊπŸ‡Έ PMI Composite β€” Exp: 54.8 Actual: 54.2

15:00 πŸ‡ΊπŸ‡Έ ⚑️ ISM Services PMI β€” Exp: 52.0 Actual: 52.6

15:30 πŸ‡ͺπŸ‡Ί ECB President Christine Lagarde Speaks

15:30 πŸ‡ΊπŸ‡Έ Crude Oil Inventories β€” Exp: -1900K Actual: 574K


[Updated in real time]
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FxPro pinned Β«πŸ—“ Economic Calendar at 2025/12/03 (GMT) 00:30 πŸ‡¦πŸ‡Ί ⚑️ Gross Domestic Product β€” Exp: 0.7% | 2.2% Actual: 0.4% | 2.1% 01:45 πŸ‡¨πŸ‡³ Markit Services PMI β€” Exp: 52.1 Actual: 52.1 01:45 πŸ‡¨πŸ‡³ Markit Composite PMI Actual: 51.2 07:30 πŸ‡¨πŸ‡­ Consumer Price Index β€” Exp:…»
⚠️ Australia β€” RBA Governor Michele Bullock Speaks at 22:00 GMT
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⚠️ Australia β€” Gross Domestic Product at 03:00 GMT

βœ”οΈ Prev: 0.6% | 1.8%

πŸ•’ Exp: 0.7% | 2.2%

🎯 Fact.: 0.4% πŸ“‰ | 2.1% πŸ“‰
The crypto market tries to form an uptrend

The crypto market soared by almost 7% over the past day, reaching a capitalisation of $3.15T and forming a higher local peak compared to Sunday. The mood on the crypto market was buoyed by moves from institutional giants Vanguard and Bank of America to open access to digital assets for their clients. Combined with the fact that the low point on December 1st is higher than the lows on November 21st, we are seeing a series of vital signs of an upward trend forming. However, a conservative view suggests that fluctuations below $3.38T are a correction from the previous decline.

Bitcoin approached $94K on Wednesday morning, recovering half of its losses from the sell-off between November 11th and 21st. Considering the entire decline from its October peak, BTCUSD remains trading below $ 98K as part of the correction. The $98-100K range contains three psychologically significant levels: the 50-day average, early November support, and 61.8% of the decline from the peak. Consolidation above this level could convince buyers that crypto winter has not arrived.

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The dollar is weakening, as set by seasonality

December, a seasonally weak month for the dollar, coincided with expectations of aggressive easing by the Fed.

Divergence in monetary policy is helping the Yen and the Australian dollar.

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