Headlines:UK November CPI +3.9% vs +4.4% y/y expectedFirst BOE rate cut now priced in for May next yearSterling falls as UK CPI data vindicates market posturing on rate cutsECB's Nagel offers warning to traders betting on impending rate cutsGermany January GfK consumer sentiment -25.1 vs -27.0 expectedGermany November PPI -0.5% vs -0.3% m/m expectedEurozone October current account balance €34.0 billion vs €31.2 billion priorMarkets:NZD leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures down 0.2%US 10-year yields down 4.1 bps to 3.880%Gold down 0.3% to $2,033.31WTI crude up 1.4% to $74.95Bitcoin up 1.0% to $42,923The main draw in European trading today was the UK CPI data rele
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