Today's News Update - 18th Dec 2024 Asia Asia-Pacific markets were mixed on Tuesday, following uneven gains on Wall Street as investors awaited the U.S. Federal Reserve's decision. Australia’s S&P/ASX 200 rose 0.78%, while Japan’s Nikkei 225 and Topix fell 0.24% and 0.37%. South Korea’s Kospi dropped 1.29%, and the Kosdaq slipped 0.58%. In China, the CSI 300 declined 0.26%, and Hong Kong's Hang Seng Index was down 0.16%. China plans to raise its budget deficit to 4% of GDP in 2025 to support 5% growth next year, but markets remain uncertain about the impact, according to Natixis economist Gary Ng. US In the U.S. overnight, the Nasdaq Composite reached a record high, driven by a surge in tech stocks. The tech-focused index rose 1.24% to 20,173.89, while the S&P 500 gained 0.38%, closing at 6,074.08. The Dow Jones Industrial Average lagged, dropping 110.58 points, or 0.25%, to finish at 43,717.48. The Dow's decline marked its eighth consecutive loss, the longest streak since 2018. Investors are also focused on the Federal Reserve's upcoming decision on December 18, with the CME Fedwatch tool predicting a 98.2% chance of a 25-basis-point rate cut. Commodity Gold edged lower on Tuesday, pressured by a stronger U.S. dollar and rising Treasury yields as investors turned their attention to the Federal Reserve's final policy meeting of the year, with growing expectations of gradual rate cuts in 2025. Spot gold fell 0.2% to $2,646.58 per ounce, while U.S. gold futures dropped 0.3% to $2,663.30. Oil prices also declined on Tuesday, weighed down by renewed concerns over demand following China's economic data, as investors remained cautious ahead of the U.S. Federal Reserve’s interest rate decision. Brent crude futures fell 94 cents, or 1.27%, to $72.97 per barrel, while U.S. West Texas Intermediate crude dropped 94 cents, or 1.33%, to $69.77 per barrel. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex