US equity futures trade flat after trimming earlier losses with better than expected earnings from Home Depot who reported an EPS beat. US equity futures found some support after rumours that Greece would be given three tranches of aid in one, although the German finance ministry has said that no firm decision has been taken as of yet. Moody’s also contributed to the lack of conviction from investors with comments indicating they are waiting for the fiscal cliff to be triggered to make any changes to US rating. Trading volumes are still light due to a lack of significant data this week and yesterday’s Veterans Day holiday.
In terms of currency pairs EUR/USD has exhibited choppy trade within a range amidst several contradicting reports throughout the day, this price action has been echoed across other major currency pairs including GBP/USD and EUR/GBP.
WTI and Brent crude futures trade marginally lower following the IEA’s reduction in Q4 demand forecast for the second time and OPEC comments that the market is very well supplied.
Print 18:24, 13 Nov 2012 - Market Analysis - Source: RANsquawk
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