n the currency quadrant, December Euro futures pulled back from a nine-session high to finish lower, though the contract secured its third weekly gain in four weeks. The European Central Bank (ECB) released notes from its latest policy meeting, signaling a shift as policymakers deem current interest rates high enough to stabilize inflation near the 2% target. With uncertainty lingering, the council emphasized a data-dependent approach, suggesting further rate cuts may not be necessary. Domestically, the CME FedWatch Tool indicates rising expectations for a U.S. FOMC rate cut at the upcoming December 10 meeting, with probabilities climbing to over 86%. This outlook suggests a potential tailwind for major currencies against the U.S. dollar as markets await signals from Federal Reserve Chair Jerome Powell regarding future monetary policy flexibility.
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