EUR/USD
1.15729
0.140%
Gold
4140.39
0.597%
Oil
60.228
0.479%
USD/JPY
154.242
0.077%
GBP/USD
1.31376
-0.281%
GBP/JPY
202.641
-0.194%
Real-time News
November 11th - The S&P 500 rose 0.6% in the 40 days since the US government shutdown began on October 1st, before rebounding more sharply after Mondays announcement that the shutdown would end within days. Now, based on historical experience, the benchmark index is poised for a holiday season rally. Data compiled by Sam Stovall, chief market strategist at CFRA, shows that the S&P 500 rose an average of 2.3% in the month following the end of the previous 15 shutdowns. This magnitude of gain would place the benchmark US stock index just below 7,000 points by mid-December. Strategists believe the stock market will gain further from current levels as federal workers return to work and regular economic data reporting resumes. He suggests investors consider a trade: go long on AI-using stocks while shorting a basket of stocks that do not use AI.On November 11, Ukraine claimed responsibility for a second attack this month on a key Rosneft refinery in Russias Volga region, as military authorities in Kyiv continue their strategy of targeting Moscows refining industry to cut its energy revenues. Regional Governor Roman Busargin stated that an unnamed industrial facility in the Saratov Zavotskoy district was damaged in a nighttime drone attack, but he did not provide further details. The Saratov refinery is located in the same area. The refinery, capable of processing approximately 140,000 barrels of crude oil per day, is a key supplier of gasoline and diesel fuel to one of the most densely populated regions in western Russia. It has been a target of numerous Ukrainian drone attacks this year, most recently on November 3. In recent months, Ukraine has intensified its attacks on Russian oil infrastructure—from refineries to crude oil pipelines and offshore terminals—in an effort to reduce Moscows energy revenues.Sources say Switzerland is close to reaching a tariff agreement with the United States, with tariffs set at 15%. The agreement could be reached as early as Thursday or Friday.Indias Trade Minister: India is diversifying its seafood exports to Russia and the European Union as part of efforts to protect exporters.On November 11th, Salomon Fiedler of Berenberg Bank stated in a report that Tuesdays weaker-than-expected employment data may not be enough to convince the Bank of England to cut interest rates in December. The UK unemployment rate rose to 5.0% in the three months to September, higher than the consensus forecast of 4.9% in a Wall Street Journal survey. Fiedler indicated that the Bank of England may want to wait for more economic data and assess the fiscal policy announcement in the November 26th budget before deciding to cut rates. Therefore, Berenberg continues to expect the Bank of England to wait until the first quarter of next year to cut rates, followed by a final rate cut in the second quarter.
