In Asian Equity Markets stocks fell slightly on Friday amid concerns over rising COVID-19 cases in China, but were headed for weekly gains as dovish signals from the Federal Reserve boosted broader appetite for risk-driven assets. Hong Kong’s Hang Seng index was among the worst performers for the day, losing 0.7 percent, while the Taiwan Weighted index lost 0.1 percent. Chinese stocks rose on Friday, but the blue-chip Shanghai Shenzhen CSI 300 index was headed for a mild weekly loss as the country logged a record-high rise in daily COVID-19 infections. Japan’s Nikkei 225 index fell 0.3 percent.
In Currency Markets the U.S. dollar stood close to a three-month low and was headed for a weekly loss on Friday, as the prospect of the Fed slowing monetary policy tightening as soon as December preoccupied investors and kept the mood buoyant. Sterling rose more than 0.5 percent overnight and last stood at $1.2103. The Aussie firmed to $0.6765 and was on track for a weekly gain of more than 1 percent. The euro gained 0.02 percent to $1.0413, edging toward an over four-month high of $1.0481 hit last week. The New Zealand dollar slid 0.1 percent to $0.6257. The U.S. dollar index stood at 105.83.
In U.S., Equity Markets were closed in observance of Thanksgiving Day.
In Commodities Markets benchmark Brent oil edged lower on Thursday while West Texas Intermediate (WTI) crude held steady, hovering in sight of two-month lows as the level of a proposed G7 cap on the price of Russian oil raised doubts about how much it would limit supply. Brent crude futures were down 0.3 percent, to $85.12 a barrel, while U.S. WTI crude futures rose 2 cents, to $77.96. Spot gold rose 0.3 percent to $1,754.13 per ounce. Spot silver fell 0.3 percent to $21.45 per ounce, platinum fell 0.9 percent to $987.78 while palladium was little changed at $1,881.72.
In European Equity Markets stocks rose on Thursday led by gains in real estate stocks after minutes from the Federal Reserve’s November meeting signalled a slowdown in the pace of interest rate hikes. The pan-European STOXX 600 index rose 0.5 percent to its strongest level since Aug. 18, although trading volumes were light due to a U.S. market holiday for Thanksgiving. Shares of world’s largest classified ads company Adevinta and Polish insurer PZU jumped 7.2 percent and 6.6 percent, respectively after posting strong third-quarter results.
In Bond Markets German government bond yields fell to their lowest in six weeks on Thursday, encouraged by a rally in U.S. Treasuries the day before, after minutes from the Federal Reserve’s latest meeting showed policymakers were less hawkish than previously thought. German 10-year yields were down 8 basis points on the day at 1.841 percent in afternoon trade having earlier fallen to 1.802 percent, their lowest since Oct. 4.