China's economic recovery puts it “on stronger footing” – WSJ

Dhwani Mehta FXStreet

China's impressive road to recovery from the coronavirus pandemic, especially with the solid activity numbers seen in November, puts the world's second-largest economy "on a stronger footing," the Wall Street Journal (WSJ) reported in its gated piece.

According to the WSJ, “major economic indicators, including industrial output, investment and consumer spending, all grew at faster paces in the country last month, supporting job growth and driving down unemployment rates.”

Related reads

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

Australian Dollar remains in positive territory after paring recent gains

AUD/USD pares its daily gains, remaining in the positive territory and trading around 0.7010 during the European hours. The pair appreciated as the Australian Dollar received support from prevailing hawkish sentiment surrounding the Reserve Bank of Australia’s policy outlook.

Gold retreats below $4,250 as USD benefits from hawkish Fed

Gold (XAU/USD) stays on the back foot in the second half of the day and trades in negative territory below $4,250. Although easing tensions in the Middle East help XAU/USD limit its losses, the broad-based USD strength in the Fed aftermath doesn't allow it to gain traction.

Crypto Today: Bitcoin, Ethereum and XRP pare losses on increasing bets of Fed tighter monetary policy

Cryptocurrency prices are broadly moderating downwards on Thursday, as market participants assess the impact of the Federal Reserve’s (Fed) hawkish monetary policy stance.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.