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    Morning Bid: US exceptionalism piles pressure on EM

    (Reuters) – A look at the day ahead in Asian markets. Emerging market investors will be hoping the final trading week of November brings more joy than the moves they have seen in recent weeks, but it is becoming increasingly difficult for shafts of light to pierce the thickening gloom.America’s divergence with the rest of the world – manifested in the strength of the U.S. dollar, the relentless rally on Wall Street and the significant rise in Treasury yields – is becoming more entrenched by the week. The dollar has risen eight weeks in a row and on Friday hit a two-year high. According to analysts at TD Securities, U.S. funds in the past 13 weeks have captured over 70% of all developed market bond fund inflows and nearly 90% of all DM equity fund inflows.While that will eventually pose issues for the incoming Trump administration in terms of how a soar-away dollar fits with President-elect Donald Trump’s desire for a weaker currency and lower interest rates, Asian and emerging markets are feeling the heat right now.Dedicated EM bond and equity funds posted combined outflows for a sixth straight week, according to Barclays (LON:BARC) analysts, a trend they expect to continue in the coming weeks. TD Securities analysts note that more than half of the EM equity outflow last week was from China alone.In the current environment of heightened geopolitical tensions, any pullback in the dollar will just be seen as a better level to go long, Barclays team reckons.Sentiment towards EM assets is poor. The MSCI emerging market and Asia ex-Japan indexes have fallen in five of the past seven weeks. Time to buy the dip?If so, it would surely have happened last week as these two benchmark indexes came off the back of weekly declines of around 4.5%, their steepest losses since June 2022. But they couldn’t rebound more than 0.5%, an indication that investors are in no hurry to get back in.And looking ahead to next year, strategists at SocGen have cut their emerging market exposure by five percentage points to just 6%, citing the fallout from U.S. onshoring policies as well as relative growth, rates and carry dynamics that all support the US over EM. Market liquidity next week will be lighter than usual with U.S. markets observing the Thanksgiving holiday later in the week. The local calendar is fairly light on top-tier indicators and events too.Highlights include rate decisions from the central banks of New Zealand and South Korea, GDP figures from India and Taiwan, and the latest Chinese purchasing managers index data.All that is later in the week. Monday’s docket includes retail sales and trade figures from New Zealand, inflation from Singapore, and industrial production from Taiwan. Here are key developments that could provide more direction to markets on Monday:- New Zealand retail sales,- Investor reaction to U.S. president-elect Donald Trump’s Treasury Secretary pick- Bank of England’s Lombardelli, Dhingra speak More

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    US retailers stretch out Black Friday deals to lure flagging shoppers

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    A record Black Friday beckons

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    Sweating the small stuff could work for Argentina

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    Elon Musk Reacts to Jim Cramer ‘Causing’ Bitcoin (BTC) Price Reversal

    Cramer is no stranger to making statements that often defy prevailing trends and shatter expectations. His influence has grown so much that it has spawned the “Inverse Cramer” phenomenon, where investors do the opposite of his advice. As often as not, he has taken to live television to share his thoughts as the host of CNBC’s Mad Money.Thus, Cramer reportedly said that Bitcoin is a winner right now and that you should own the cryptocurrency. After that, the price of BTC made a U-turn and found itself at $97,215, where it found a local bottom for now.In a short but eloquent reaction with a laughing face and 100% emojis, Musk revealed what he thinks about the latest occurrence of Jim Cramer’s curse.For now, Bitcoin’s next move remains uncertain, but the incident serves as a reminder of how outside voices and investor sentiment can shape the cryptocurrency’s price trajectory.This article was originally published on U.Today More

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    $70 Billion Bitcoin (BTC) OI Surge or $100,000? Who’s First?

    With futures traders placing bets on both upward and downward price movements, this degree of open interest usually indicates increased speculative activity. This raises the possibility of increased volatility even though it might also be an indication of confidence in Bitcoin’s momentum.According to the price chart that is provided, Bitcoin has broken out of its previous downward channel and is still moving strongly upward. There is noticeable resistance at the $100,000 psychological level, and the asset is presently trading close to $98,000. A break above this milestone might open the door for a short-term test of $105,000 or even $110,000 if Bitcoin can maintain its bullish trend.The surge of open interest though has two drawbacks. Positively higher open interest indicates more trading volume and liquidity, both of which are essential for maintaining price movements. On the other hand, excessive leveraged position length may result in abrupt corrections brought on by cascading liquidations. This was observed in prior rallies when a derivatives market that was overheating was followed by sudden price drops.The $85,000 and $72,000 support levels are worth keeping an eye on because they correspond with moving averages and prior consolidation zones.This article was originally published on U.Today More

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    Climate multilateralism clings on, just

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    How ‘bumpy’ is US inflation?

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