Global equities pause as election outcome unclear yet - 12.11.2020

The Dollar strengthening is intact currently ahead of the US Labor Department report at 17:30 CET expected to show 730 thousand Americans likely sought unemployment benefits over the last week, down from 751 thousand the previous week, and US inflation report expected to indicate core consumer prices rise at steady 0.2% over month in October. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.3% Wednesday. Both the EUR/USD and GBP/USD reversed climbing yesterday with euro higher currently against the dollar while Pound is down still. AUD/USD reversed its climbing while USD/JPY continued rising yesterday with the Australian dollar lower still against the greenback while yen climbing currently.

Futures on three main US stock indexes are retreating currently after a mixed session on Wednesday as the Democratic Party retained control of the US House of Representatives with a smaller majority. The three main US stock indexes recorded returns ranging from -0.1% to 2.0%. European stock indexes are pulling back currently after a bullish session Wednesday. Asian indexes are mostly lower today with Nikkei ending higher defying the general downtrend .

Brent is extending gains today. US Energy Information Administration will report domestic crude oil inventories at 20:00 CET today delayed a day due to the US Veterans Day holiday on Wednesday. Prices ended higher Wednesday. The US oil benchmark West Texas Intermediate (WTI) futures gained: WTI rose 0.2% and is higher currently. Brent crude closed 0.4% higher at $45.30 a barrel on Wednesday.