The S&P 500 Futures are slightly on the upside after U.S. financial markets were closed for the Thanksgiving holiday yesterday.
European indices opened on the upside before facing a consolidation as EU Ambassadors agreed to prepare diligently for all possible Brexit outcomes and called on EU Commission to present contingency measures for No Deal urgently. The European Commission has reported the Eurozone’s November Consumer Confidence Index at -17.6, vs -15.5 in October and Economic Confidence Index at 87.6 (vs 86.0 expected). In Germany, October Import Prices were released at +0.3%, vs +0.1% expected. France's INSEE has posted November CPI at +0.2% (vs +0.0% on month expected) and final readings of 3Q GDP at +18.7% (vs +18.2% on quarter expected).
Asian indices closed on the upside, except the Australian ASX. Official data showed that Japan's Tokyo CPI fell 0.7% on year in November (-0.5% expected).
WTI Crude Oil remains on the upside. OPEC committee projected that global oil supply will exceed demand by 200K b/d in 1Q, if OPEC+ proceed with its scheduled supply increase, reported Bloomberg citing source. OPEC+ will meet next week to decide whether the group will delay the increase of oil production in January.
U.S indices were closed on Thursday to observe Thanksgiving Day.
On the U.S economic data front, no major economic data was released.
Gold is still losing ground on vaccine optimism while the U.S dollar continues to consolidate on improving risk sentiment.
Gold fell 8.95 dollars (-0.49%) to 1806.85 dollars.
The dollar index fell 0.02pt to 91.978.
U.S. Equity Snapshot
Tesla (TSLA): the US National Highway Traffic Safety Administration opened a probe into about 115,000 Tesla vehicles over front suspension safety issue.
Source: TradingView, GAIN Capital
Walt Disney (DIS), the entertainment and media giant, plans to layoff 32,000 employees by March, most of them in theme-parks, or about 4,000 more than job cuts amount announced in September.
Cisco Systems (CSCO), a leading global supplier of network hardware and software, was upgraded to "hold" from "sell" at Independent Research.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.