Morning Update – 21/11/2017 – by Arjun Lakhanpal

Morning all.. The strong recovery seen in the DAX and other EU equity markets continued into the US markets which saw the S&P close up 0.13% in a rather quiet but solid session. The Dow was up an impressive 0.3% on the day. Asian markets took up the baton with rises across the board with the Nikkei up 0.7%, HK up 1.25% and Shanghai up an impressive 1.8%. Treasuries and the dollar were little changed as we head into the US Thanksgiving Holiday on Thursday. The Australian dollar dropped to a five-month low after suggestions from the central bank that interest rates will stay lower for longer. The dollar was little changed from the previous session when it rose for the first time in five days. Gold held on to most of its biggest drop since September after the dollar’s gains sent precious metal prices including silver and platinum lower. Oil recouped losses to head back toward a two-year high. The Fed minutes are due on Wednesday, which will allow investors to gauge officials’ eagerness to boost interest rates next year. In Europe, investors continue to watch political developments in Germany even though markets concluded that economic growth won’t be threatened by the collapse in talks between German Chancellor Angela Merkel and potential coalition partners. Merkel said that she’s skeptical about forming a minority government and would prefer new elections if she can’t put together a majority. This morning we get UK Public sector borrowing data and little else.. Good luck.