European stocks begin December on a positive note
|'Following slowing eurozone inflation European stock indices begin the last month of the year on a positive note' says Axel Rudolph, Senior Market Analyst at online trading platform IG.
Around 125 basis point ECB rate cut now seen in 2024
“Weaker-than-expected eurozone inflation has led to repricing with European yields dropping to multi-month lows as traders price in around 125 basis point ECB rate cuts in 2024. Since Wednesday's three month high, the euro has given back around 1.5% versus the greenback and other crosses. The German DAX 40 rallied by close to a percentage point, French and Italy's indices by around half that with the FTSE 100 for once being the outperformer with gains of over a percent."
US stock trade lower ahead of Powell speech
“Disappointing US factory activity pushed US equity indices slightly lower ahead of a speech by the Fed Chair Jerome Powell. While the US dollar regained some lost ground, the gold price briefly touched a new seven-month high as the oil price flatlined post Thursday's OPEC+ meeting."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.