The Intelligence Layer Beyond Your Own Book

GBPUSD is lower this morning at 1.2640, following news that the UK economy shrank by 0.1% in October, against a consensus expectation of a 0.1% gain.

Asian equities had a strong session overnight, with the Hang Seng rising 1.6% and the Nikkei gaining 1.21%. Markets are eagerly awaiting details from China’s two-day Central Economic Work Conference, where policies to bolster economic activity and growth for next year are expected.

A busy overnight session: Asian stocks had a poor performance. Gold dropped from $2,695 to $2,675 in a heartbeat, with the GCG5 basis widening to $55 from around $27 at the open.