US indices closed higher on Friday helped by Pharmaceuticals, Biotechnology & Life Sciences (+1.12%), Automobiles & Components (+0.81%), and Media (+0.73%) sectors.
On the economic data front, Wholesale Inventories month over month change released at -0.4%, lower than the -0.3% consensus for the September final reading, down from -0.3% in the preliminary reading, marking the lowest reading since October of 2017. The University of Michigan Consumer Sentiment Index came in at 95.7, better than the 95.5 estimate for the November preliminary reading, up from 95.5 in the prior reading. On Monday, their is no major economic data being released.
European markets are expected to open on a negative note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against most of its major pairs on Friday, with the exception of the JPY. On the economic data front, Wholesale Inventories month over month change released at -0.4%, lower than the -0.3% consensus for the September final reading, down from -0.3% in the preliminary reading, marking the lowest reading since October of 2017. The University of Michigan Consumer Sentiment Index came in at 95.7, better than the 95.5 estimate for the November preliminary reading, up from 95.5 in the prior reading. On Monday, their is no major economic data being released.
The Euro was bullish against most of its major pairs with the exception of the JPY and USD. In Europe, in UK, the KPMG\/REC jobs report stated: “Recruitment consultancies across the U.K. continued to register subdued hiring trends during October, according to the latest KPMG and REC, UK Report on Jobs data. Permanent staff appointments fell solidly at the start of the fourth quarter, which was widely linked to Brexit-related uncertainty, as many employers had chosen to cancel or postpone hiring until there was greater clarity over the outlook. Growth of temp billings meanwhile eased to a marginal pace”. Beside, September German Trade Balance recorded a 21.1 billion euros surplus (19.5 surplus expected) versus 16.4 billion euros in August. French September Industrial Production rose 0.3% month on month (+0.4% expected) after a 0.9% decline in August.
The Australian dollar was bearish against all of its major pairs.<\/p>\n\n\n\n