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Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
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ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Goldman Sachs reported Monday that the copper market is pricing in a 50% chance of a 10% U.S. tariff on the metal by the end of Q1 2025. The bank’s own estimate aligns with this, assigning a 50% probability of such tariffs being implemented by year-end.
Copper prices on the London Metal Exchange fell 0.3% to $9,167 per metric ton at 0706 GMT, retreating from last week’s one-month high. The market remains cautious as President-elect Donald Trump prepares to deliver his inauguration speech, with traders watching for signs of immediate policy changes. Trump has proposed tariffs of up to 10% on global imports, 60% on Chinese goods, and 25% on Canadian and Mexican products.
Goldman Sachs also highlighted oil market concerns, estimating a 40% chance of a 25% tariff on Canadian imports, compared to their subjective 15% probability of such a tariff by year-end. Brent crude futures were trading around $80.69 per barrel, while U.S. West Texas Intermediate crude was steady at $77.36.
The bank assigned a low 10% probability to a 10% tariff on gold, citing its status as a financial asset, which likely shields it from broad-based tariffs. Spot gold prices rose 0.3% to $2,708.77 per ounce, while U.S. gold futures held at $2,749.70.
COMEX gold stocks surged by one-third in six weeks as market players sought deliveries to hedge against potential tariffs.
This market analysis underscores how proposed U.S. tariffs could disrupt global commodities, fueling price volatility and strategic shifts among traders.
