Morning Markets: Focus on Merkel and UK data
- CH: Trade balance (already published)
- UK: Public borrowing/finances (09:30 GMT)
- UK: CBI Industrial Trends (11:00 GMT)
- US: Existing home sales (15:00 GMT)
- US Fed chair Janet Yellen speaks (23:00 GMT)
- Gold lost ground overnight; it was down 1.2% to $1,277.33/oz
- The Dax shrugged off Angela Merkel's political impasse and headed 0.5% higher
- Asian markets took a positive lead from Wall St and European stockmarkets
- The Nikkei 225 rebounded strongly from Monday's slide; it was up nearly 1% in late trade
- Activist investors have bought into Toshiba's ¥600bn ($5.4bn) share offer
- The S&P/ASX200 rebounded, thanks in part to firmer iron-ore prices lifting the miners
- It closed 18 points or 0.3% higher to finish at 5964
- The RBA's minutes showed doubt about the timing of a return to meaningful wages growth
- The European Banking Agency will shift from London to Paris after Brexit
- Janet Yellen's resignation is effective from when Jerome Powell takes over as FOMC chair
- Trading was subdued in US markets in the lead up to Thanksgiving on Thursday
- The NZD was little changed against the greenback ahead of tonight's dairy auction
- Merkel's failed coalition talks weighed on the euro
- Talk of the UK Brexit 'divorce settlement' from the EU could prompt more GBP volatility
- The Australian dollar dropped sharply following the release of the RBA minutes
- The AUD fell from US75.58¢ ahead of the release to US75.49¢ just after
From the Floor
Euro outlook. "In Germany, Merkel is said to favour new elections," says Hardy.
Costly Brexit. "Sterling has firmed on the story that the UK is willing to double its EU divorce bill offer to £40bn," says Hardy.
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
The Saudi energy minister said Opec will ensure its exit from the current accord on output will be a gradual adjustment to prevent the return of a glut, says Saxo Capital Markets Australia.
The EUR is struggling against the USD on German Chancellor Merkel's news that she would prefer new elections over leading a minority government, writes Saxo APAC Sales Trading.
Morning Markets goes out on the TradingFloor platform at 0800 GMT, Monday to Friday.
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