SocGen's Overnight Economic News Summary

05:50 AM EST, 12/04/2025 (MT Newswires) -- Societe Generale in its early Thursday economic news summary pointed out:

-- US dollar (USD) selling subsides after weak ADP (-32,000) on Wednesday, Australian dollar (AUD) pushes on above 0.66 after 1.3% month-over-month gain in October household spending tips scales towards Reserve Bank of Australia hike in H1 2026. 10-year United States Treasury steady around 50dma (4.075%). 2s/10s steepens to 58.5bps. EUR/USD closed above 50d/100dma for the first time since Oct. 6, next resistance 1.1730. India's rupee (INR) off 90.4187 low after the Reserve Bank of India intervenes.

-- Bank of Japan likely to raise rates in December and the government is expected to tolerate the decision, three government sources familiar with the deliberations said (Reuters).

-- Fed: Bond investors warned U.S. Treasury over picking White House economic adviser Hasset as Federal Reserve chair, worrying that he could agitate for indiscriminate rate cuts even if inflation continues to run above the 2% target, according to three people familiar with the conversations. (FT).

-- Sweden's consumer price index slows to 0.3% year over year in November versus 0.9% in October. CPIF eases to 2.3% from 3.1%, core dips to 2.4%, a 12-month low.

-- Day ahead: U.S. weekly jobless claims. Federal Reserve speaker Bowman (no comment on monetary policy). European Central Bank's Kocher, Cipollone, Lane and Guindos. Bank of England's Mann, DMP one-year CPI expectations. Czech CPI and Brazil Q3 gross domestic product.

-- Nikkei +2.3%, EUR 10-year IRS +1bp at 2.79%, Brent crude +0.5% at $62.9/barrel, Gold -0.4% at $4,192/oz.

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