Daily Flows

• Yesterday saw funds directed toward a 5-year term deposit at a rate of 5.45%.
• NCD activity was robust, with ‘A’ Foreign Branch banks seeking funds and offering competitive rates to attract investors.
• Reference rates have remained stable; however, thin trading may result in volatile movements today.

 Markets Quiet With Thanksgiving Break

• Markets are quiet due to Thanksgiving in the U.S.
• European equities rose as ECB minutes indicated policymakers’ cautious optimism regarding falling inflation.
• Oil prices remained stable as markets awaited the OPEC+ meeting.
• Judo Bank Australia’s Services PMI for November 2023 decreased to 46.3 from the previous month’s 47.9. Price pressures intensified, affecting both input costs and output prices, attributed to higher energy, labor, and currency costs.
• Manufacturing PMI for November 2023 fell to 47.7. Output declined, but at a less pronounced rate, as companies focused on fulfilling existing orders.
• Concerns over demand conditions and the economic outlook led to reduced optimism among manufacturers, resulting in a further reduction of purchasing activity and inventory holdings.