European equity markets settled in positive territory earlier after holding on to gains from the open. The move to the upside followed risk on sentiment carried over from the Asian session where Chinese Manufacturing PMI showed growth for the first time in 13 months, the latest indicator confirming the economic recovery in China is gaining momentum.
EUR/USD trades modestly higher on the back of the aforementioned risk on sentiment added to positive Euro PMI data and optimism over Greek budget talks. USD/JPY trades lower however there is no fundamental news to drive JPY in recent trade, with moves exacerbated by thin volumes and players taking advance of a lack of liquidity due to the Thanksgiving holiday.
WTI and Brent crude futures settled lower amid thin volumes due to the Thanksgiving Holiday, the move to the downside follows yesterday’s news of a truce in the Israel-Gaza conflict though the decline was moderated by doubts that remain over the efficacy of the ceasefire.
As a reminder:
• CME/CBOT/NYMEX Closed
• CME Globex - Equity products halted (halted between 1030CST/1630GMT and 1700CST/2300GMT); Interest Rate Products halted (halted between 1200CST/1800GMT and 1700CST/2300GMT); FX halted (halted between 1200CST/1800GMT and 1700CST/2300GMT)
• NYMEX and Comex halted (halted between 1215CST/1815GMT and 1700CST/2300GMT)
• NYSE Closed
• NYSE LIFFE Regular Close
• Eurex Regular Close
Print 18:42, 22 Nov 2012 - Market Analysis - Source: RANsquawk
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