Key Global Events
Sales on the European stock markets did not decrease (-0.9% the Dax, -0.90% the Cac40, -0.33% the Ftse100 and -0.94% the Ftse Mib). Futures on Wall Street also do not bode well (-0.52% on the Dow Jones and -0.67% on the S&P500).
European stock exchanges are in the red due to demonstrations in several cities in China calling for the resignation of President Xi due to Beijing's strict 'zero Covid' policy.
In the absence of relevant macroeconomic data, today investors will listen to the words of Christine Lagarde (3:00 pm) and in the evening two components of the FOMC, i.e. Bullard and Williams, will intervene, in the rest of the week focus on inflation in the Eurozone and on the market report of US labor for the month of November.
Forex & Commodities
Sharply declining oil prices, penalized by tensions in China - the world's leading importer - which are fueling worries about the demand for black gold. Brent dropped 3.06% to 81.15 dollars a barrel, just above the lows since last January. The WTI dropped 3.07% at 73.9 dollars a barrel. Markets are also focused on the upcoming meeting of OPEC and its allies, including Russia, on Dec. 4, where the cartel is expected to make an important decision on oil production. It will probably cut production should prices fall further.
In the currency field, the euro flies (+1.10% against the dollar at 1.046).
While the Chinese yuan traded at a two-week low against the US currency at 7.19 to the dollar is losing ground.
Index - negative performance of the Asian markets due to demonstrations in various cities of the country against Beijing's strict 'zero Covid' policy. The Hang Seng is down 1.50% and the Tokyo Nikkei is down 0.42%.
Key Macroeconomic Data
futures on Wall Street do not bode well (-0.52% on the Dow Jones and -0.67% on the S&P500).
EU – A week full of macroeconomic data, from inflation in the euro area on Wednesday to US Nonfarm Payrolls on Friday. While today at 10:00 today, November 28, the Eurozone's M3 money supply in October (previous: +6.3% yoy; consensus: +6.2% yoy). Also waiting for the interventions of: Christine Lagarde in front of the European Parliament and the governor of the central bank of the Netherlands Klaas Knot.
US - John Williams of the New York Federal Reserve and James Bullard of the St. Louis Fed will speak on the Fed front.