S&P 500 and Dow Jones futures trade in a range after opening lower and Nasdaq futures trade with marginal gains following a strong rally in Apple shares after a positive note from Citigroup. Lack of direction is seen across with markets with widespread uncertainty as little progress is seen to be made in the fiscal cliff negotiations according to a senior democratic senator and no firm consensus is yet reached as the Eurogroup meeting regarding Greece. US T-notes trade in positive territory benefiting from the ambiguity in the market but recently saw a 3 tick move to the downside as recent news from the Eurogroup meeting seems to suggest that there is development in terms of nearing an agreement.
EUR/USD continues to trade sideways as markets await concrete developments on Greece. GBP/USD has regained some of its earlier losses following the announcement of BoC’s Carney as the new Governor. The decision came as a surprise as back in August, Carney ruled himself out, Carney is seen to be less dovish in stance than the current governor.
WTI and Brent Crude futures trade in negative territory as European finance ministers struggle with a Greek debt deal and a lack of development in US fiscal cliff talks dents confidence.
Print 18:18, 26 Nov 2012 - Market Analysis - Source: RANsquawk
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