Todays’ Market Summary
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The Dollar weakening has halted
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Futures on US equity benchmarks are rebounding
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Brent is recovering currently amid reports the OPEC producer group may pause output increases.
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Gold prices are edging up
Top daily news
Global stocks are moving in different directions currently as Wall Street closed sharply lower Friday after South Africa announced the discovery of the B.1.1.529 variant of the virus on Thursday. Microsoft shares lost 2.44% amid reports Microsoft CEO Satya Nadella sold about 838.6 thousand shares – over half his Microsoft stock between November 22 and November 23, Tesla shares dropped 3.05% Friday underperforming market after news the EV maker withdrew its application for $1.3 billion in state subsidies support for the construction of a planned battery plant near Berlin, Germany.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | -0.33% |
| GBP USD | -0.05% |
| USD JPY | +0.08% |
| AUD USD | +0.42% |
The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.5% on Friday.
GBP/USD joined EUR/USD’s continued climbing Friday as the federal statistics agency Destatis reported the import prices index in Germany accelerated its increase in October when a decline was expected. Both euro and Pound are lower against the Dollar currently. Both AUD/USD and USD/JPY accelerated their retreating Friday with the Australian dollar higher against the Greenback currently and yen lower.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | +0.1% |
| Nikkei Index | -0.24% |
| Hang Seng Index | -0.39% |
| Australian Stock Index | -0.37% |
Futures on US equity benchmarks are rebounding currently with 10-year US treasury yields up at 1.534%. The Wall Street tumbled Friday as investors sold off in shorter than normal session. Dow registered its worst loss of the year: the three main US stock benchmarks recorded daily losses ranging from 2.3% to 2.5%.
European stock indexes are up currently as concerns over tightening restrictive measures after new coronavirus variant emergence subside. Indexes plunged on Friday led by travel and leisure shares. Asian indexes are mostly down today with NIKKEI leading losses as Japan moved to bar entry of foreigners to head off the new strain named Omicron.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | +0.5% |
| WTI Crude | +0.4% |
Brent is recovering currently amid reports the OPEC producer group may pause output increases. OPEC+ announced it is moving two technical meetings to later this week after oil’s rout last Friday. Prices sank on Friday concerns the new virus variant could dampen fuel demand as it hurts global growth. West Texas Intermediate (WTI) futures plunged 13.1% but is higher currently. Brent crude dropped 11.6% to $72.72 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | +0.19% |
Gold prices are edging up today. December gold slipped less than 0.1% settling at $1785.50 an ounce on Friday – logging a 3.6% loss for the week.
https://www.ifcmarkets.com/en/market-overview/market-overview-29-11-2021