- Short day on Wall Street, low volume is expected.
- Wall Street futures positive, European markets mixed.
- Metals without relevant changes, cryptocurrencies stable and oil rises.
With low trading volume, global stock markets rise modestly on Friday. Wall Street will operate again, but in a limited day. The dollar rises slightly. China cuts rates. Oil rebounds.
Day and limited routes
Stock markets are mixed on Friday. In Europe, the main markets operate with increases of less than 0.35% on average. US stock futures are also up modestly. S&P 500 futures are up 0.19% and Nasdaq 0.09%.
Wall Street did not operate on Thursday and on Friday it will do so in a limited way (closing early) because it is Thanksgiving. Part of the focus is on Black Friday sales, which will show the state of the american consumer.
Activision Blizzard (developer of the Call of Duty game) falls more than 3% in the premarket after reports that the Federal Trade Commission could try to block the purchase by Microsoft. Tesla rises more than 2% despite the call of 80,000 cars in China for software and seat belt problems. Apple falls 0.42% with an eye on the protests in China.
In China the restriction policies to face COVID are generating more and more rejections. The People’s Bank of China announced that it will cut the required reserve ratio by 25 basis points, to increase liquidity in the system. The fact did not have a great impact on the markets.
As far as data is concerned, no economic figures will be published in the US. Mexico will report a new estimate of GDP growth for the third quarter; on Thursday it was known that the inflation for the middle of the month of November showed an annual rate of 8.14%, continuing with a downward trend, although the underlying one climbed to 8.66%, a new maximum since 2000.
It was learned on Friday that the German economy expanded 0.4% in the third quarter, more than the 0.3% previously estimated. The Gkf Germany Consumer Confidence Index improved from -41.9 to -40.2.
The dollar is rising modestly on Friday on the back of a rebound in Treasury yields. The DXY it climbs 0.40%, although it is still close to the November floor. EUR/USD looks stable near 1.0400, while GBP/USD stands at the 1.2100 area and USD/JPY climbs to 139.50. The and in it is among the worst performers given the rebound in sovereign bond yields. Commodity-linked and emerging currencies are the weakest, with modest losses.
On Thursday, the central bank of turkey the reference interest rate was again lowered to 9%, in line with the president’s wishes and the market’s expectations. The USD/TRY, in an intervened market, remains in the 18.60 area.
The prices of Petroleum They are rising more than 2% on Friday, although they remain under pressure and near their lowest in months, amid signs of weaker demand. The WTI barrel price curve entered contango, when future prices are higher than current ones. Details are awaited on the G7 plan to put a price ceiling on Russian oil prices from December 5. Officials from the Organization of the Petroleum Exporting Countries reaffirmed that they will remain within the stipulations of the recent OPEC and allied agreements.
Cryptocurrencies are trading modest losses around recent levels. The Bitcoin remains at $16,500 and ethereum just under $1,200. Metals are moving bearish, within recent ranges. Gold failed to break above $1760, and silver failed to hold above $21.50.
|Today’s last price||4034.02|
|Today Daily Change||-6.82|
|Today Daily Change %||-0.17|
|Today daily open||4040.84|
|Previous Daily High||4042.3|
|Previous Daily Low||4030.98|
|Previous Weekly High||4041.28|
|Previous Weekly Low||3902.84|
|Previous Monthly High||3905.2|
|Previous Monthly Low||3489.72|
|Daily Fibonacci 38.2%||4037.98|
|Daily Fibonacci 61.8%||4035.3|
|Daily Pivot Point S1||4033.78|
|Daily Pivot Point S2||4026.72|
|Daily Pivot Point S3||4022.46|
|Daily Pivot Point R1||4045.1|
|Daily Pivot Point R2||4049.36|
|Daily Pivot Point R3||4056.42|
Source: Fx Street