U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs 
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
U.S. Stocks Rally to Record Highs as AI Rebound Fuels Holiday-Shortened Session 
Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched 
US and Japan Fast-Track $550 Billion Strategic Investment Initiative 
Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs 
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
Japan Plans $189 Billion Bond Issuance as Record Budget Signals Expansionary Fiscal Policy 
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs 
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
German Exports to the U.S. Decline Sharply as Tariffs Reshape Trade in 2025 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization 
2024 Expected to be the Hottest Year on Record
According to the European Union's Copernicus Climate Change Service (C3S), 2024 is "virtually certain" to surpass 2023 as the hottest year since global records began. This announcement comes just ahead of the COP29 climate summit in Azerbaijan, where countries are expected to discuss increasing funding to combat climate change.
Record Temperatures Driven by Climate Change
From January to October, global temperatures were significantly above average, and only an unprecedented drop in temperatures would prevent 2024 from becoming the hottest year recorded. C3S Director Carlo Buontempo emphasized that the main cause of this record is climate change, which is impacting all continents and ocean basins.
2024 will also mark the first time the planet exceeds a 1.5°C increase in global temperature compared to the 1850-1900 pre-industrial period. This milestone highlights the urgency of addressing climate change, as carbon emissions from fossil fuels remain the primary driver.
Urgent Action Needed at COP29
ETH Zurich climate scientist Sonia Seneviratne expressed concern over the slow pace of global climate action and urged governments at COP29 to accelerate efforts to reduce fossil fuel dependence. The 2015 Paris Agreement aims to limit global warming to 1.5°C, but C3S now predicts the world will exceed this limit around 2030.
Extreme Weather Events Intensified by Climate Change
The impact of rising temperatures is already evident. In October, catastrophic flooding in Spain, severe wildfires in Peru, and devastating floods in Bangladesh underscored the increasing frequency of extreme weather events driven by climate change.
