US Markets Closed for Thanksgiving Holiday, Euro Drops to 7-Month Low Against USD & Yen
November 26, 2015 7:07 am
Asian shares advanced on Thursday, while the Euro remained under pressure on growing bets that the European Central Bank will roll out more stimulus soon even as the U.S. Federal Reserve looks set to raise interest rates.
The Euro recovered to $1.0623 following a drop to a more than seven-month low of $1.0565 overnight, after Euro zone central bank officials told Reuters that they are considering options such as staggering charges on banks hoarding cash and buying more debt ahead of next week’s ECB meeting. The Common Currency also touched a seven-month low against the Yen overnight, falling to 129.77 before edging back to 130.20. The Dollar index, which tracks the greenback against a basket of six other major currencies, scaled an 8.5 month high of 100.170 overnight. It last stood at 99.741. U.S. crude advanced about 0.3 percent to $43.18 a barrel, while Brent was little changed at to $46.16.
In equity news, Rio Tinto is lining up project financing for a $4 billion expansion of its long-delayed Oyu Tolgoi copper mine in Mongolia and will make a final investment decision early next year, a senior executive said on Thursday. The miner is currently trading up by 0.84%.
Yesterday Wall Street put in a nearly flat performance ahead of the U.S. Thanksgiving holiday; US Stock Markets will now be closed until Monday as the country celebrates.
Asian shares advanced on Thursday, while the Euro remained under pressure on growing bets that the European Central Bank will roll out more stimulus soon even as the U.S. Federal Reserve looks set to raise interest rates.
The Euro recovered to $1.0623 following a drop to a more than seven-month low of $1.0565 overnight, after Euro zone central bank officials told Reuters that they are considering options such as staggering charges on banks hoarding cash and buying more debt ahead of next week’s ECB meeting. The Common Currency also touched a seven-month low against the Yen overnight, falling to 129.77 before edging back to 130.20. The Dollar index, which tracks the greenback against a basket of six other major currencies, scaled an 8.5 month high of 100.170 overnight. It last stood at 99.741. U.S. crude advanced about 0.3 percent to $43.18 a barrel, while Brent was little changed at to $46.16.
In equity news, Rio Tinto is lining up project financing for a $4 billion expansion of its long-delayed Oyu Tolgoi copper mine in Mongolia and will make a final investment decision early next year, a senior executive said on Thursday. The miner is currently trading up by 0.84%.
Yesterday Wall Street put in a nearly flat performance ahead of the U.S. Thanksgiving holiday; US Stock Markets will now be closed until Monday as the country celebrates.
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