Judged by the sharp drop in the dollar, European central banks may find it hard to match the dovishness from the Federal Reserve that's seen global interest rates plummet overnight. Wall St boomed and the wave of positivity swept around the world through the night. The S&P500 had its best day in a month and surged more than 1% to within 2% of record highs. And futures pushed higher again ahead of Thursday's open. Most major bourses around the world followed Wall St's suit, however, and gained more than 1%.
The dollar index dropped sharply to its lowest since August.

Oil has weakened to a six-month low near $72 a barrel this week, even after OPEC+, which includes OPEC oil-exporting nations and allies, on Nov. 30 announced a new round of production cuts for the first quarter of 2024.
Gold prices extended gains on Thursday, after the U.S. Federal Reserve signaled an end to its tightening cycle and lower borrowing costs in 2024. Spot gold was 0.4% higher at $2,034.35 per ounce, after surging 2.4% on Wednesday.

Asia Pacific
While the ECB and BOE may struggle to match such a clear easing view as the Fed, next week's Bank of Japan meeting may even see another tweak of tightening. And so the yen led the way higher to its best levels since July, near 140 per dollar.

The Aussie has taken a break after the recent surge and consolidates under the local highs.

Europe
Ten-year German bund yields plunged to near 2% to their lowest since March, while the precipitous drop in UK gilt yields - which had started on Wednesday on news of a contraction of the British economy in October - continued to its lowest 10-year rate since May.

Bank of England leaves policy unchanged, says rates to stay high for ‘extended period’. In response the Sterling shows the surge towards the high, located around the 1.2730 level against the Greenback.
The Euro is waiting for ECB decision.

America
A wide dispersion of Fed views on the policymaking Open Market Committee showed some uncertainty still, but the direction of travel was clear and a majority expect three quarter point cuts or more next year.

The Canadian dollar is about to test the support, located around the 1.34 USD level zone.