UK retail weakness and upcoming budget

Monday 24th November 2025

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Last week was a bad one for US equities and the Australian dollar. It was even worse for Bitcoin, but NAB’s Skye Masters says it recovered over the weekend, so if you believe it’s a bellwether for equities this week could get off to a better start. Equities had already climbed on Friday as the Fed’s John Williams talked up the chance of a rate cut in December. It’s a relatively quiet week, with the US off for Thanksgiving. Locally the RBNZ meets and Australian CPI is released.

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