Monday, 16 November 2015

Global Markets

European equities had also held firm on Monday, with the pan-European FTSEurofirst 300 index edging up 0.16 percent and France's CAC dipping only 0.12 percent.
"In light of all the tragedy in France, it is refreshing to see that the terrorists did not successfully terrorize the financial markets...and even though investors sold the EUR/USD, the decline could have been a lot steeper.
The dollar rose to a 1-week high of 123.405 yen , a safe-haven currency usually sought in times of geopolitical tension. The greenback also rose to an 8-month high against the Swiss franc, another haven.
The euro dipped to $1.0656, a 7-month trough. Crude extended gains after the Paris attacks raised geopolitical tensions that were seen to threaten global oil supply. [O/R]
Brent crude nudged up 0.2 percent to $44.64 a barrel, adding to overnight gains of 2.2 percent.
Spot gold was little changed at $1,081.77 an ounce. The precious metal pared gains overnight as an initial flow of flight-to-safety buying after the Paris attacks petered out.
Investor focus has returned to a potential rate hike by the Fed in December. Higher interest rates would diminish the allure of the non-interest-paying gold.

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