Market Overview Analysis by Ipek Ozkardeskaya covering: Euro US Dollar, US Dollar Japanese Yen, CAC 40, Crude Oil WTI Futures. Read Ipek Ozkardeskaya's latest article on Investing.com
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn’t necessarily translate in a strong rally. ASML - Europe’s biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron – which was up by more than 6% yesterday - couldn’t extend gains at today’s session.
For the euro, we don’t yet see a major impact of French political shenanigans, but the French touch is not necessarily a positive one. Theswung between gains and losses yesterday, caught between mixed inflation data from Spain and Germany. Inflation in Spain ticked higher – from 1.8% to 2.4% in November, while price pressures in Germany came in softer-than-expected thanks to softer food prices.
In energy, there is hesitation about what to do at the current levels. The latest news suggests that OPEC+ will delay its decision time from Sunday to December 5th. It appears that the cartel members need more time to discuss what to do about their plans to restore production.
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