Daily Market News: November 28, 2014
November 28, 2014 12:50 pmVideo
Latest News
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November 28, 2014 – Daily Market News
Today’s Hot Assets: EUR, Oil
Asian markets were mixed across the region. The Nikkei climbed 1.23% following mixed Japanese data. The Hang Seng finished with little change with a loss 0.07%. Energy shares suffered as oil prices dropped and traders assessed whether the GDP outlook will be downgraded at the Central Economic Work Conference in December. European markets are lower today following the release of CPI data. Declining oil prices also harm inflation and this will add more pressure to the ECB and their battle to avoid deflation. Currently, the FTSE 100 is down 0.67% while France’s CAC 40 is off 0.44% and Germany’s DAX is lower by 0.34%. U.S markets remained closed yesterday for the Thanksgiving Holiday. Volatility may be lower today as the market will only partially open due to Black Friday.
WTI Crude plummeted to a new four year low after OPEC decided not to lower inflation. Oil has dropped 35% since June as the market has been plagued with falling demand with higher supplies. The market is expected to stabilize itself and adjust accordingly to supply and demand. Gold is also faltering after OPECs decision. The awaited Swiss referendum will occur on Sunday and voters will decide whether the bank should increase its Gold reserves from 8% to 20%. A recent survey showed that only 38% of responders voted in favour of the increase.
Today’s Main Events:
10.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
13.30 GMT: CAD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
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