President-elect Donald Trump’s return to the White House is seen fuelling a dealmaking revival that could bolster investment banking income to $316 billion globally next year, a jump of about 5.7% on 2024, data seen by Reuters shows.
An outsized cut by the Fed earlier this year had provided some leeway to Asian central banks to cut rates, but weakening domestic currencies, and inflation staying above target range in some economies, have pushed back expectations of near-term rate cuts.
The group, known as OPEC+ and responsible for about half of the world’s oil output, was planning to start unwinding cuts from October 2024, but a slowdown in global demand – especially in China – and rising output elsewhere have forced it to postpone the plan several times.
The world’s biggest cryptocurrency surged to record highs on Thursday amid increased optimism over friendlier crypto regulations under incoming President Donald Trump. Traders were particularly cheered by Trump’s pick of a pro-crypto candidate to lead the Securities and Exchange Commission.
Crude oil for January delivery was up 0.13% or 0.09 to $68.39 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 0.04% or 0.03 to hit $72.12 a barrel, while the February Gold Futures contract rose 0.43% or 11.51 to trade at $2,659.91 a troy ounce.
