US indices closed slightly higher on Friday lifted by shares in the Automobiles & Components (+2.05%), Consumer Durables & Apparel (+1.09%) and Transportation (+1.05%) sectors. On the economic data front, the Markit US Manufacturing Purchasing Managers’ Index rose to 52.2, above the 51.4 consensus for the November preliminary reading, up from 51.3 in the prior reading. Also, the University of Michigan Consumer Sentiment Index November final reading came in at 96.8, higher than the prior reading of 95.7. On Monday, economists expect the Chicago Fed National Activity Index reading for October.
European markets are expected to start on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was flat to bullish against most of its major pairs on Friday, with the exception of the NZD. On the economic data front, the Markit US Manufacturing Purchasing Managers’ Index rose to 52.2, above the 51.4 consensus for the November preliminary reading, up from 51.3 in the prior reading. Also, the University of Michigan Consumer Sentiment Index November final reading came in at 96.8, higher than the prior reading of 95.7. On Monday, economists expect the Chicago Fed National Activity Index reading for October.
The Euro was bearish against most of its major pairs with the exception of the CHF and GBP. In Europe, German third quarter Gross Domestic Product rose +0.5% on year as expected. Research firm Markit published preliminary readings of November Manufacturing Purchasing Managers’ Index mostly above expectations: for the Eurozone at 46.6 (46.4 expected), Germany at 43.8 (42.9 expected), France at 51.6 (50.9 expected) except the U.K. at 48.3 (49.0 expected). Yet, the preliminary readings of November Services Purchasing Managers’ Index were mostly below expectations: for the Eurozone at 51.5 (52.5 expected), Germany at 51.3 (52.0 expected), France 52.9 (53.0 expected) and the U.K. at 48.6 (50 expected).
The Australian dollar was flat to bullish against most of its major pairs with the exception of the NZD.<\/p>\n\n\n\n