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Morning Bid: Tepid End to Torrid November
Published by Global Banking & Finance Review®
Posted on December 8, 2025
2 min readLast updated: January 20, 2026
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Published by Global Banking & Finance Review®
Posted on December 8, 2025
2 min readLast updated: January 20, 2026
Add as preferred source on GoogleCME Group outage impacts trading as European markets anticipate a Federal Reserve rate cut. Inflation data from France and Germany are key economic events.
A look at the day ahead in European and global markets from Ankur Banerjee
On perhaps the slowest trading day of the year, investors are dealing with an outage on CME Group platform affecting currencies, commodities and equities futures, spicing up what has so far been a tepid session.
While traders are able to execute trades on other platforms, CME Group's platforms are popular in the currency world. Conflicting comments have flooded the newsroom so far from the trading floor. It's either a "nightmare" or everyone needs to "calm down".
If the outage stretches well into European hours, expect people to get more concerned especially those looking to square their month-end books.
A month that brought fears over AI bubble to the fore is coming to an end with investors shrugging off those worries for now, choosing instead to get excited about the prospect of an interest rate cut from the Federal Reserve next month.
That has left stocks generally upbeat this week although still on course for a monthly decline, while the U.S. dollar is headed for its worst week in four months as markets convince themselves that a rate cut is coming.
With the U.S. markets closed for the Thanksgiving holiday on Thursday and set for a short trading session on Friday, investors are unlikely to place major bets (an outage may help with that too).
The economic calendar includes inflation data for France and Germany and traders will be interested in seeing where prices are headed but for now markets are focused on what the Fed is going to do next.
Traders have priced in an 85% chance of a cut in December, compared with 39% a week earlier, CME FedWatch showed. Now the pricing has switched because of the dovish tone from some of the policymakers. Who's to say it won't change if hawks come out?
Key developments that could influence markets on Friday:
Economic events: Germany import and export data for October, November inflation data for France and Germany
(By Ankur Banerjee; Editing by Sam Holmes)
Monetary policy refers to the actions taken by a country's central bank to control the money supply and interest rates to achieve macroeconomic objectives such as controlling inflation, consumption, growth, and liquidity.
Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives. They facilitate the raising of capital, transfer of risk, and international trade.
Interest rates are the cost of borrowing money or the return on savings, expressed as a percentage of the principal. They are influenced by central bank policies and affect economic activity.
Economic growth is the increase in the production of goods and services in an economy over a period of time, typically measured by the rise in Gross Domestic Product (GDP).
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI) or Producer Price Index (PPI).
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