Thursday 30th November: European Open Briefing

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Thursday 30th November: European Open Briefing 1

Global Markets:

  • Asian stock markets: Nikkei up 0.66 %, Shanghai Composite down 0.69 %, Hang Seng fell 1.60 %, ASX 200 lost 0.69 %
  • Commodities: Gold at $1283.00 (0.05 %), Silver at $16.49 (0.24 %), WTI Oil at $57.48 (0.31 %), Brent Oil at $62.84 (0.50 %)
  • Rates: US 10-year yield at 2.38, UK 10-year yield at 1.34, German 10-year yield at 0.38

News & Data:

  • (CNY) Manufacturing PMI 51.8 vs 51.5 expected
  • (CNY) Non-Manufacturing PMI 54.8 vs 54.3 previous
  • (NZD) ANZ Business Confidence -39.3 vs -10.1 previous
  • (AUD) Private Capital Expenditure q/q 1.0 % vs 1.1 % expected
  • (AUD) Building Approvals m/m 0.9 % vs -0.9 % expected
  • (USD) Crude Oil Inventories -3.4 M vs -2.5 M expected
  • (USD) Pending Home Sales m/m 3.5 % vs 1.1 % expected
  • (USD) Prelim GDP q/q 3.3 % vs 3.3 % expected
  • U.S. third-quarter economic growth fastest in three years- RTRS
  • Bitcoin back above $10,000 after plunging 18% in extremely volatile trading

Markets Update:

Asia-pacific equities markets declined early on Thursday weighed down by a plunge in high-flying technology shares, technology stocks in the region declined after U.S. shares in the sector sold off on Wednesday. China official manufacturing PMI topped expectations. Australian financials slipped after banking chiefs called for an inquiry into the sector

USDJPY is currently seen trading higher around 112.17 as the Yen declined 0.2 % against the US Dollar. Bank of Japan’s Harada tried to talk the Japan economy up, but the JPY still weakened Japan's Nikkei 225 is currently up over 0.6 percent following a slow start early on Thursday following major tech names trading lower. Financials, trading houses and automakers, however, mostly notched gains.

EURUSD notched around 20 pip gain from session lows of 1.1845. Currently the major is seen trading around 1.1865 as the EUR is up 0.1 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies was flat for the session and is currently valued at 93.21. The yield on 10-year Treasuries was steady at 2.38 percent after climbing six basis points.

AUDUSD is currently seen trading around 0.7590 after climbing over 30 pips higher from its session lows of 0.7555. Australia’s 10-year yield gained about three basis points to 2.50 percent. Gold was little changed at $1,283.00 an ounce. On the other hand, the kiwi weakened hurt by poor ANZ Business confidence and activity outlook. Currently the New Zealand dollar is down 0.5% against the USD valued at 0.6848.

Upcoming Events:

  • 07:00 GMT – (EUR) German Retail Sales m/m
  • 08:00 GMT – (CHF) KOF Economic Barometer
  • 10:00 GMT – (EUR) CPI Flash Estimate y/y
  • 13:30 GMT – (CAD) Current Account
  • 13:30 GMT – (USD) Unemployment Claims
  • 16:45 GMT – (USD) Chicago PMI
  • & More…

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