Taiwan stocks higher at close of trade; Taiwan Weighted up 1.08%

Investing.com – Taiwan stocks were higher after the close on Tuesday, as gains in the Financials, Machinery and Semiconductor sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted rose 1.08%.

The best performers of the session on the Taiwan Weighted were Advanced Optoelectronic Technology Inc (TW:3437), which rose 9.99% or 3.80 points to trade at 41.85 at the close. Meanwhile, Optimax Technology Corp (TW:3051) added 9.98% or 0.56 points to end at 6.17 and Paragon Technologies Co Ltd (TW:3518) was up 9.97% or 3.55 points to 39.15 in late trade.

The worst performers of the session were Ruentex Industries Ltd (TW:2915), which fell 4.46% or 2.40 points to trade at 51.40 at the close. Shinih Enterprise Co Ltd (TW:9944) declined 3.67% or 0.75 points to end at 19.70 and Globe Union Industrial Corp (TW:9934) was down 3.46% or 0.80 points to 22.30.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 552 to 237 and 89 ended unchanged.

Shares in Advanced Optoelectronic Technology Inc (TW:3437) rose to 52-week highs; gaining 9.99% or 3.80 to 41.85. Shares in Optimax Technology Corp (TW:3051) rose to 52-week highs; gaining 9.98% or 0.56 to 6.17.

Crude oil for January delivery was up 0.04% or 0.02 to $56.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 0.10% or 0.06 to hit $62.28 a barrel, while the December Gold Futures contract rose 0.43% or 5.50 to trade at $1280.80 a troy ounce.

USD/TWD was down 0.17% to 30.042, while TWD/CNY rose 0.14% to 0.2203.

The US Dollar Index Futures was down 0.07% at 93.93.

Aussie Down In Asia As Central Bank Minutes Note Weak Wage Gains

Investing.com - The Aussie fell in Asia on Tuesday as central bank minutes painted a downbeat picture for wage inflation.

AUD/USD traded at 0.7539, down 0.15%, while USD/JPY changed hands at 112.56, down 0.05%. EUR/USD traded at 1.1738, up 0.04%.

In Australia, RBA meeting minutes showed the central bank is nervously watching labor markets in other major economies, noting scant wage pressures even as full employment has been
reached.

In minutes of its November 7 policy meeting, published Tuesday, the RBA board noted "that in most advanced economies, growth in wages and hourly earnings had been low, despite ongoing reductions in spare capacity."

"They discussed the possibility that globalization and technology were leading wage growth to be less responsive to changes in the demand for labor, which could continue for a while," the minutes said.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.05% to 93.95.

Overnight, the dollar rose sharply against a basket of major currencies on Monday, benefitting from a slump in the euro amid growing political uncertainty in Germany after Chancellor Angela Merkel failed to form a three-way coalition.

Political uncertainty swept across Germany on Monday, weighing on the euro, after talks to form the country's next government collapsed overnight, raising questions about the future leadership position of Angela Merkel.

The slump in the euro pushed the dollar to a nearly one-week high against its rivals but gains were capped by an uptick in sterling amid fading Brexit woes.

GBP/USD rose on reports that the British government was set to make the European Union an improved offer for the final financial divorce settlement.

The reports sparked investor hopes that Brexit proceedings can finally progress onto more pressing issues such as future trading terms as disagreements between the UK and EU on the so-called EU divorce bill was said to be one of the main factors contributing to the recent deadlock in Brexit negotiations.

PBOC Sets Yuan Parity At 6.356 Against Dollar

Investing.com - The People's Bank of China set the yuan parity rate against the dollar at 6.6356 on Tuesday, compared to the previous close of 6.6300.

The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate.

Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term.

Peru stocks higher at close of trade; S&P Lima General up 0.33%

Investing.com – Peru stocks were higher after the close on Monday, as gains in the Food&Beverages, Banking&Financials and Mining sectors led shares higher.

At the close in Lima, the S&P Lima General gained 0.33%.

The best performers of the session on the S&P Lima General were Alicorp (LM:ALI), which rose 2.61% or 0.260 points to trade at 10.210 at the close. Meanwhile, Buenaventura (LM:BVN) added 2.36% or 0.320 points to end at 13.870 and Sociedad Minera el Brocal SAA (LM:BRO) was up 1.73% or 0.200 points to 11.750 in late trade.

The worst performers of the session were Austral Group SAA (LM:AUG), which fell 12.73% or 0.210 points to trade at 1.440 at the close. Atacocha (LM:ATB) declined 8.47% or 0.050 points to end at 0.540 and Relapasa (LM:REL) was down 4.59% or 0.014 points to 0.291.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 14 to 10 and 15 ended unchanged.

Crude oil for January delivery was down 0.55% or 0.31 to $56.40 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 0.88% or 0.55 to hit $62.17 a barrel, while the December Gold Futures contract fell 1.47% or 19.02 to trade at $1277.48 a troy ounce.

USD/PEN was down 0.08% to 3.2415, while EUR/PEN fell 0.56% to 3.8074.

The US Dollar Index Futures was up 0.41% at 93.99.

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.31%

Investing.com – U.S. stocks were higher after the close on Monday, as gains in the Telecoms, Industrials and Technology sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average added 0.31%, while the S&P 500 index added 0.13%, and the NASDAQ Composite index gained 0.12%.

The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc (NYSE:VZ), which rose 1.72% or 0.78 points to trade at 46.20 at the close. Meanwhile, Cisco Systems Inc (NASDAQ:CSCO) added 1.67% or 0.60 points to end at 36.50 and Home Depot Inc (NYSE:HD) was up 1.62% or 2.71 points to 170.45 in late trade.

The worst performers of the session were Merck&Company Inc (NYSE:MRK), which fell 1.99% or 1.10 points to trade at 54.10 at the close. General Electric Company (NYSE:GE) declined 1.26% or 0.23 points to end at 17.98 and Walt Disney Company (NYSE:DIS) was down 0.67% or 0.69 points to 102.75.

The top performers on the S&P 500 were Delphi Automotive plc (NYSE:DLPH) which rose 3.49% to 102.14, NetApp Inc (NASDAQ:NTAP) which was up 3.36% to settle at 54.73 and Micron Technology Inc (NASDAQ:MU) which gained 3.21% to close at 47.64.

The worst performers were Incyte Corporation (NASDAQ:INCY) which was down 6.18% to 98.95 in late trade, Cardinal Health Inc (NYSE:CAH) which lost 4.36% to settle at 55.00 and Range Resources Corporation (NYSE:RRC) which was down 4.05% to 17.30 at the close.

The top performers on the NASDAQ Composite were Acasti Pharma Inc (NASDAQ:ACST) which rose 144.08% to 3.100, OptimumBank Holdings Inc (NASDAQ:OPHC) which was up 57.20% to settle at 7.750 and Real Industry Inc (NASDAQ:RELY) which gained 45.92% to close at 0.52.

The worst performers were Micronet Enertec Technologies Inc (NASDAQ:MICT) which was down 19.11% to 0.995 in late trade, CHF Solutions Inc (NASDAQ:CHFS) which lost 19.04% to settle at 8.120 and TDH Holdings Inc (NASDAQ:PETZ) which was down 18.57% to 9.78 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1791 to 1297 and 133 ended unchanged; on the Nasdaq Stock Exchange, 1543 rose and 987 declined, while 118 ended unchanged.

Shares in Incyte Corporation (NASDAQ:INCY) fell to 52-week lows; losing 6.18% or 6.52 to 98.95. Shares in NetApp Inc (NASDAQ:NTAP) rose to 5-year highs; up 3.36% or 1.78 to 54.73. Shares in Cardinal Health Inc (NYSE:CAH) fell to 3-years lows; losing 4.36% or 2.51 to 55.00. Shares in Micron Technology Inc (NASDAQ:MU) rose to 5-year highs; gaining 3.21% or 1.48 to 47.64. Shares in Merck&Company Inc (NYSE:MRK) fell to 52-week lows; down 1.99% or 1.10 to 54.10. Shares in Cisco Systems Inc (NASDAQ:CSCO) rose to 5-year highs; gaining 1.67% or 0.60 to 36.50. Shares in Home Depot Inc (NYSE:HD) rose to all time highs; gaining 1.62% or 2.71 to 170.45. Shares in Acasti Pharma Inc (NASDAQ:ACST) rose to 52-week highs; rising 144.08% or 1.830 to 3.100.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 7.00% to 10.63.

Gold Futures for December delivery was down 1.48% or 19.15 to $1277.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.55% or 0.31 to hit $56.40 a barrel, while the January Brent oil contract fell 0.89% or 0.56 to trade at $62.16 a barrel.

EUR/USD was down 0.49% to 1.1733, while USD/JPY rose 0.50% to 112.65.

The US Dollar Index Futures was up 0.42% at 94.00.

Canada stocks higher at close of trade; S&P/TSX Composite up 0.04%

Investing.com – Canada stocks were higher after the close on Monday, as gains in the Healthcare, IT and Consumer Discretionary sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.04%.

The best performers of the session on the S&P/TSX Composite were Home Capital Group Inc . (TO:HCG), which rose 7.02% or 1.10 points to trade at 16.77 at the close. Meanwhile, Valeant Pharmaceuticals International Inc (TO:VRX) added 6.06% or 1.14 points to end at 19.94 and DHX Media Ltd B (TO:DHXb) was up 4.59% or 0.18 points to 4.10 in late trade.

The worst performers of the session were Klondex Mines Ltd (TO:KDX), which fell 4.60% or 0.150 points to trade at 3.110 at the close. Detour Gold Corporation (TO:DGC) declined 4.10% or 0.57 points to end at 13.34 and Tahoe Resources Inc (TO:THO) was down 4.02% or 0.24 points to 5.73.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 589 to 543 and 118 ended unchanged.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 28.11% to 9.36 a new 1-month low.

Gold Futures for December delivery was down 1.47% or 19.06 to $1277.44 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.55% or 0.31 to hit $56.40 a barrel, while the January Brent oil contract fell 0.89% or 0.56 to trade at $62.16 a barrel.

CAD/USD was down 0.37% to 0.7802, while CAD/EUR rose 0.11% to 0.6649.

The US Dollar Index Futures was up 0.41% at 93.99.

Aussie Weaker In Early Asia Ahead Of RBA Minutes

Investing.com - The Aussie held weaker in early Asia on Tuesday with central bank minutes ahead in an otherwise light regional data day.

AUD/USD traded at 0.7549, down o,o2%, while USD/JPY changed hands at 112.64, up 0.55%.

In Australia, RBA meeting minutes from the November review are due.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.39% to 94.00.

Overnight, the dollar rose sharply against a basket of major currencies on Monday, benefitting from a slump in the euro amid growing political uncertainty in Germany after Chancellor Angela Merkel failed to form a three-way coalition.

Political uncertainty swept across Germany on Monday, weighing on the euro, after talks to form the country's next government collapsed overnight, raising questions about the future leadership position of Angela Merkel.

The slump in the euro pushed the dollar to a nearly one-week high against its rivals but gains were capped by an uptick in sterling amid fading Brexit woes.

GBP/USD rose on reports that the British government was set to make the European Union an improved offer for the final financial divorce settlement.

The reports sparked investor hopes that Brexit proceedings can finally progress onto more pressing issues such as future trading terms as disagreements between the UK and EU on the so-called EU divorce bill was said to be one of the main factors contributing to the recent deadlock in Brexit negotiations.

Bitcoin Soars to Record Highs, CME Group Sets Bitcoin Futures Date

Investing.com – Bitcoin recorded a fresh all-time high on Monday, rising above $8,200 for the first time in its nine-year history amid ongoing bullish sentiment on the popular digital currency.

On the U.S.-based Bitfinex exchange, bitcoin rose to $8240.6, up $162.2, or 2.01% after rising to an all-time high of $8287.0. Bitcoin’s market cap surged to $136 billion.

The latest surge in bitcoin comes on the back of a raft of positive news after payments company Square (NYSE:SQ) said last week, it was testing support for bitcoin to allow customers to buy and sell the digital currency through its payment app Cash.

Also adding to positive sentiment on bitcoin was an update from derivatives marketplace CME Group (NASDAQ:CME) on Sunday on its plan to introduce bitcoin futures before the end of the year.

"Effective Sunday[,] 10 December 2017 for trade date Monday[,] 11 December 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin Futures." The CME Group noted on its website.

Bitcoin's latest milestone sparked a wave of optimism across the main cryptocurrencies as Bitcoin cash rose to $1,194, up 1.47% while bitcoin gold fell 3.57% to $158.31.

Ethereum, the second largest cryptocurrency by market cap, rose 2.91% to $365.60.

Gold Prices Near 1-Week Lows as Dollar Edges Higher

Investing.com – Gold prices fell on Monday as a slump in the euro amid rising political uncertainty in Germany pushed the dollar to a nearly one-week high dampening demand for the precious metal.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange fell by $3.11, or 0.35%, to $1280.77 a troy ounce.

Chancellor Angela Merkel said on Monday that she would prefer new elections rather than lead a minority government after talks to form the country's next government collapsed overnight.

That sparked concerns over the future leadership position of chancellor Merkel, pressuring the euro to lows, while supporting an uptick in the dollar to trade higher against a basket of global currencies.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.31% to 93.90.

Also adding to gold weakness was the prospect of higher interest rates as the Federal Reserve’s December 12-13 meeting draws closer amid strong expectations the central bank will raise rates.

According to investing.com’s fed rate monitor tool 100% traders expect the Federal Reserve to raise rates.

Gold is sensitive to moves higher in both bond yields and the U.S. dollar – A stronger dollar makes gold more expensive for holders of foreign currency while a rise in U.S. rates, lift the opportunity cost of holding non-yielding assets such as bullion.

In other precious metal trade, silver futures rose 2.70% to $16.90 a troy ounce, while platinum futures lost 3.14% to $924.60.

Copper traded at $3.09, up 0.85% while natural gas fell by 1.07% to $3.06.

Dollar Edges Higher As EUR/USD Falls on German Political Uncertainty

Investing.com – The dollar rose sharply against a basket of major currencies on Monday, benefitting from a slump in the euro amid growing political uncertainty in Germany after Chancellor Angela Merkel failed to form a three-way coalition.

Political uncertainty swept across Germany on Monday, weighing on the euro, after talks to form the country's next government collapsed overnight, raising questions about the future leadership position of Angela Merkel.

The slump in the euro pushed the dollar to a nearly one-week high against its rivals but gains were capped by an uptick in sterling amid fading Brexit woes.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.31% to 93.90.

GBP/USD rose 0.17% to $1.3236 on reports that the British government was set to make the European Union an improved offer for the final financial divorce settlement.

The reports sparked investor hopes that Brexit proceedings can finally progress onto more pressing issues such as future trading terms as disagreements between the UK and EU on the so-called EU divorce bill was said to be one of the main factors contributing to the recent deadlock in Brexit negotiations.

Elsewhere USD/JPY made strong gains, rising 0.40% to Y112.54 as renewed investor appetite for riskier assets reduced demand for safe-haven yen.

USD/CAD rose 0.23% to C$1.2788 as slump in the oil prices continued to weigh on the oil sensitive Canadian dollar.

The move higher in the greenback comes just days after data showed speculators cut their bearish bets on the dollar for the seventh straight week.

Non-commercial large futures traders, including hedge funds and large speculators, had an overall US dollar net position totalling -$643 million, the lowest since mid-July, according to the latest data from the CFTC and Reuters.

Tesla’s New Electric Truck Is Just A Distraction

Investing.com - Last Thursday, Elon Musk unveiled the much-hyped Tesla (NASDAQ:TSLA) Semi truck, as well as a new Roadster.
The truck comes with Enhanced Autopilot, can travel 500 miles between charges, haul 80,000 pounds, and has a special design that makes jackknifing impossible. It also reportedly has faster acceleration and better uphill performance than diesel-powered trucks.
The new roadster has three motors, a 620-mile range, and can go from zero to 100 miles per hour in 4.2 seconds.
But before investors jump on the Tesla bandwagon, they should pause to consider a few things.
First, Musk said production of the truck and Roadster would begin in 2019 and 2020 respectively, still a ways away.
Second, Tesla already faces competition in the electric truck market, as Cummins (NYSE:CMI) and Daimler have already announced fully-electric models.
Finally, the electric truck and new sports car might serve as a distraction, but remember: when it comes to delivering their Model 3 sedan, the company has been in self-described production hell.
Tesla has yet to be profitable and investors should want to see more than shiny new prototypes before really getting excited.

USD/CAD Edges Higher Amid Declining Oil Prices

Investing.com - The U.S. dollar edged higher against its Canadian counterpart on Monday, as declining oil prices dampened demand for the commodity-related Canadian currency, although U.S. political concerns limited the greenback's gains.

USD/CAD was up 0.13% at 1.2778 by 09:30 a.m. ET (13:30 GMT).

The Canadian dollar was pressure by a decline in oil prices on Monday, as rising U.S. production continued to weigh.

In the U.S., the House of Representatives on Thursday passed a bill that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

But the legislation may face a tougher fight in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

Markets were also jittery due to an ongoing investigation into potential Russian interference in the 2016 Presidential election.

The loonie was steady against the euro, with EUR/CAD at 1.5041.

Euro Slightly Lower, Dollar Rebounds Against Yen

Investing.com - The euro slipped lower against the dollar on Monday as fears over political instability in Germany weighed, while the dollar pushed higher against the Japanese yen.

EUR/USD was at 1.1770 by 09:12 AM ET (02:13 PM GMT), after touching an overnight low of 1.1723.

The euro remained on the back foot after German President Frank-Walter Steinmeier said the country faces an unprecedented situation following the collapse of talks aimed at forming a coalition government.

He urged political parties to reconsider forming a coalition in order to avoid new elections.

Against the yen, the euro was last at 132.20, after rebounding from the two-month trough of 131.29 hit overnight.

The euro pared back losses against the pound, but remained lower with EUR/GBP last at 0.8888.

Sterling found support following reports that Britain may make concessions to smooth Brexit negotiations.

The pound gained ground against the dollar, with GBP/USD adding on 0.2% to trade at 1.3240.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.15% to 93.75, boosted by the weaker euro.

The greenback’s gains were held in check amid lingering doubts over whether Republicans can pass a historic tax overhaul.

President Donald Trump tweeted on Sunday that Senator Jeff Flake will oppose the Republican tax bill, but the senator's office said he has not yet made up his mind.

Last week the House voted to pass a tax bill that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

The dollar gained ground against the yen, with USD/JPY climbing 0.21% to 112.32, recovering from the lows of 111.89 hit earlier, the weakest level since October 16.

Natural Gas Futures Kick Off the Week with Sharp Losses

Investing.com - Natural gas futures started the week off with sharp losses on Monday, as traders reacted to forecasts calling for less heating demand through the end of this month.

U.S. natural gas futures sank 6.2 cents, or around 2%, to $3.035 per million British thermal units by 9:00AM ET (1400GMT). It reached its worst level since Nov. 3 at $3.026 earlier in the session.

Prices climbed 4.4 cents, or almost 1.5%, on Friday, but still lost about 3.6% for the week.

Gas futures often reach a seasonal low in late October and early November, when mild weather weakens demand, before recovering in the winter, when heating-fuel use peaks.

The heating season from November through March is the peak demand period for U.S. gas consumption.

Meanwhile, market participants looked ahead to this week's storage data due on Wednesday, which is expected to show a draw in a range between 43 and 53 billion cubic feet (bcf) in the week ended Nov. 17.

That compares with a drop of 18 bcf in the preceding week, a fall of 2 bcf a year earlier and a five-year average decline of 26 bcf.

Total natural gas in storage currently stands at 3.772 trillion cubic feet (tcf), according to the U.S. Energy Information Administration. That figure is 271 bcf, or around 6.7%, lower than levels at this time a year ago and 101 bcf, or roughly 2.6%, below the five-year average for this time of year.

Analysts estimated the amount of gas in storage would end the April-October injection season at 3.8 tcf due primarily to higher liquefied natural gas shipments abroad. That would fall short of the year-earlier record of 4.0 tcf and the five-year average of 3.9 tcf.

Stocks- U.S. Futures Fall as Tax Reform Uncertainty Sets In

Investing.com – U.S. futures pointed to a lower open on Monday as investors remain on edge over the tax reform bill.

The S&P 500 futures fell half a point or 0.03% as of 6:53 AM ET (11:53 AM GMT) while Dow futures slipped four and a half points or 0.02%. Meanwhile tech heavy Nasdaq 100 futures decreased two and a half points or 0.04%.

U.S. Treasury Secretary Steven Mnuchin said on Friday that he foresaw the tax reform bill being sent to President Donald Trump by the end of 2017, but concerns remain about what whether the bill will be finalized. The House passed its version of the tax bill on Thursday and now has to go through the Senate.

Among the biggest movers before the morning bell were banking firm Barclays (LON:BARC) PLC ADR (NYSE:BCS), which rose 1.43% and Chinese e-commerce giant Alibaba (NYSE:BABA), which increased 1.11%. Oil firm BP (LON:BP) PLC was up 0.41% after it declared a $0.10 dividend.

Meanwhile social media firm Snap Inc (NYSE:SNAP) slumped 1.00% and pharmaceutical firm Teva Pharma Industries Ltd ADR (NYSE:TEVA) was down 1.19%. Financial services firm ING Group NV ADR (NYSE:ING) fell 0.61% while Chinese electronic retailer Qudian Inc (NYSE:QD) decreased 1.89%.

Stocks in Europe recovered after dipping earlier on Monday when Germany failed to form a three-way government coalition. Germany’s DAX rose 41 points or 0.31% while in France the CAC 40 increased 19 points or 0.36% and in London, the FTSE 100 inched forward 11 points or 0.16%. Meanwhile the pan-European Euro Stoxx 50 rose ten and a half points or 0.30% while Spain’s IBEX 35 was up 36 points or 0.37%.

In commodities, gold futures fell 0.37% to $1,291.71 a troy ounce while crude oil futures slumped 0.58% to $56.38 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched forward 0.02% to 93.63.

India stocks higher at close of trade; Nifty 50 up 0.15%

Investing.com – India stocks were higher after the close on Monday, as gains in the Real Estate, Metals and Power sectors led shares higher.

At the close in NSE, the Nifty 50 rose 0.15%, while the BSE Sensex 30 index added 0.05%.

The best performers of the session on the Nifty 50 were GAIL Ltd (NS:GAIL), which rose 3.51% or 15.60 points to trade at 460.35 at the close. Meanwhile, Yes Bank Ltd (NS:YESB) added 2.37% or 7.25 points to end at 313.35 and Bosch Ltd (NS:BOSH) was up 2.16% or 410.60 points to 19376.50 in late trade.

The worst performers of the session were Ambuja Cements Ltd. (NS:ABUJ), which fell 3.57% or 9.80 points to trade at 264.70 at the close. Dr. Reddy’s Laboratories Ltd (NS:REDY) declined 2.07% or 48.15 points to end at 2274.45 and ICICI Bank Ltd (NS:ICBK) was down 2.01% or 6.55 points to 318.55.

The top performers on the BSE Sensex 30 were Gail (India) Ltd. (BO:GAIL) which rose 3.09% to 458.30, Coal India Ltd (BO:COAL) which was up 1.98% to settle at 278.25 and NTPC Ltd (BO:NTPC) which gained 1.52% to close at 180.15.

The worst performers were Dr. Reddy’s Laboratories Ltd (BO:REDY) which was down 2.05% to 2277.30 in late trade, ICICI Bank Ltd (BO:ICBK) which lost 2.03% to settle at 318.50 and State Bank Of India (BO:SBI) which was down 1.29% to 333.05 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 1010 to 585 and 15 ended unchanged; on the Bombay Stock Exchange, 1603 rose and 1019 declined, while 163 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 2.04% to 13.4325.

Gold Futures for December delivery was down 0.38% or 4.88 to $1291.62 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.39% or 0.22 to hit $56.49 a barrel, while the January Brent oil contract fell 0.59% or 0.37 to trade at $62.35 a barrel.

USD/INR was up 0.24% to 65.093, while EUR/INR rose 0.09% to 76.7534.

The US Dollar Index Futures was down 0.03% at 93.58.

Dollar Erases Gains with U.S., Europe Politics in Focus

Investing.com - The dollar pared gains against other major currencies on Monday, as uncertainty over the fate of a major U.S. tax overhaul and political turmoil in Germany dominated market sentiment.

The House of Representatives on Thursday passed a bill that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

But the legislation may face a tougher fight in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

Markets were also jittery due to an ongoing investigation into potential Russian interference in the 2016 Presidential election.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.54 by 05:15 a.m. ET (09:15 GMT), off session highs of 93.95.

EUR/USD was little changed at 1.1794, while GBP/USD gained 0.42% to trade at 1.3272.

Sentiment on the euro was fragile after German Chancellor Angela Merkel said she failed to form a government coalition, sparking concerns that a new election may be in order.

The Free Democrats Party (FDP) unexpectedly left the negociation table Sunday, leaving Merkel's conservative camp and the Green party with no coalition agreement.

If no government is formed, German President Frank-Walter Steinmeier can call a new election. Chancellor Merkel was set to meet with the President later Monday.

Elsewhere, the yen and the Swiss franc were steady, with USD/JPY at 112.14 and with USD/CHF at 0.9892.

The Australian dollar was almost unchanged, with AUD/USD at 0.7564, while NZD/USD adding 0.25% to 0.6833.

Meanwhile, USD/CAD eased up 0.09% to 1.2771.

Economic Calendar: Top Things to Watch This Week

Investing.com -The Federal Reserve publishes the minutes of its November meeting on Wednesday.

The progress of US tax reform measures will be closely watched as debate in the Senate gets underway.

British finance minister Philip Hammond is to deliver the annual budget on Wednesday

US markets will be closed on Thursday for the Thanksgiving holiday. The NYSE will close at 1pm ET on Friday.

Black Friday, the Friday after Thanksgiving, will mark the unofficial start of the crucial holiday season for retailers.

Philippines stocks higher at close of trade; PSEi Composite up 0.13%

Investing.com – Philippines stocks were higher after the close on Monday, as gains in the Banking&Financials, Holding Firms and Mining&Oil sectors led shares higher.

At the close in Philippines, the PSEi Composite rose 0.13%.

The best performers of the session on the PSEi Composite were BDO Unibank Inc (PS:BDO), which rose 1.71% or 2.50 points to trade at 148.70 at the close. Meanwhile, SM Investments Corp (PS:SM) added 1.50% or 14.50 points to end at 980.00 and Megaworld Corp (PS:MEG) was up 1.29% or 0.070 points to 5.490 in late trade.

The worst performers of the session were International Container Terminal Services Inc (PS:ICT), which fell 1.90% or 2.000 points to trade at 103.000 at the close. JG Summit Holdings Inc (PS:JGS) declined 1.89% or 1.400 points to end at 72.600 and San Miguel Corp (PS:SMC) was down 1.77% or 2.00 points to 111.00.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 119 to 82 and 43 ended unchanged.

Shares in BDO Unibank Inc (PS:BDO) rose to all time highs; gaining 1.71% or 2.50 to 148.70.

Gold Futures for December delivery was down 0.33% or 4.25 to $1292.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.16% or 0.09 to hit $56.62 a barrel, while the January Brent oil contract fell 0.37% or 0.23 to trade at $62.49 a barrel.

CNY/PHP was down 0.41% to 7.6577, while USD/PHP fell 0.42% to 50.767.

The US Dollar Index Futures was up 0.05% at 93.66.

Crude Oil Prices Start the Week on The Backfoot

Investing.com - Crude prices were a bit lower to start the week on Monday, as reduced expectations for an extension of OPEC-led output curbs combined with fears over rising U.S. output weighed on sentiment.

Brent crude futures, the benchmark for oil prices outside the U.S., shed 17 cents, or around 0.3%, to $62.55 a barrel by 3:25AM ET (0825GMT).

Meanwhile, U.S. West Texas Intermediate (WTI) crude futures slipped 4 cents, or about 0.1%, to $56.66 a barrel.

Oil prices jumped more than 2% on Friday, but failed to offset their first weekly loss in six weeks, amid ongoing investor fears that rising U.S. output would dampen OPEC’s efforts to rid the market of excess supplies.

Domestic U.S. output has rebounded by almost 15% since the most recent low in mid-2016, casting doubts over the past few months' narrative of tightening energy markets.

Meanwhile, growing concern that Russia was reluctant to support an extension of an existing OPEC-led production cut agreement further weighed.

Under the original terms of the deal, OPEC and 10 other non-OPEC countries led by Russia agreed to cut production by 1.8 million barrels a day (bpd) for six months. The agreement was extended in May of this year for a period of nine more months until March 2018 in a bid to reduce global oil inventories and support oil prices.

Discussions are continuing in the run-up to the Nov. 30 meeting, which oil ministers from OPEC and the participating non-OPEC countries will attend.

In the week ahead, trade volumes are expected to remain light around Thursday's Thanksgiving holiday and Friday's shortened trading session.

Market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

In other energy trading, gasoline futures declined 0.6 cents, or 0.4%, to $1.739 a gallon, while heating oil lost half a cent to $1.942 a gallon.

Natural gas futures dropped 5.6 cents, or 1.8%, to $3.040 per million British thermal units.

Gold Prices Drift Lower at Start of Holiday-Shortened Week

Investing.com - Gold prices drifted lower at the start of a holiday-shortened week on Monday, as investors kept an eye on U.S. tax reform developments.

Comex gold futures shed $5.00, or about 0.4%, to $1,291.51 a troy ounce by 2:50AM ET (0750GMT). It jumped 1.4% to reach its best level since Oct. 16 at $1,297.50 in the last session.

The yellow metal booked a weekly gain of about 1.8% last week, marking its second-straight weekly rise, as investors remained skeptical over whether Republicans can pass a historic tax overhaul.

The House of Representatives passed a bill last Thursday that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

But the legislation may face a tougher fight in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

Besides U.S. tax reform developments, global financial markets will focus on minutes of the Federal Reserve’s latest policy meeting in the week ahead, as they look for fresh clues on the likely trajectory of monetary policy.

In addition to the minutes, markets will also be watching Fed Chair Janet Yellen, when she speaks in New York on Tuesday evening.

Staying in the U.S., a report on durable goods orders will be the highlight of the holiday-shortened week. Markets stateside will remain closed on Thursday for the Thanksgiving holiday.

Few expect this week's data to halt the third Fed rate hike of the year next month. The U.S. central bank is scheduled to hold its final policy meeting of the year on Dec. 12-13, with interest rate futures pricing in a 100% chance of a rate hike at that meeting, according to Investing.com's Fed Rate Monitor Tool. For 2018, the Fed is currently forecasting three interest rate hikes, but the markets expect two at most.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

In other metals trading, silver futures slumped 20.7 cents, or 1.2%, to $17.16 a troy ounce, platinum fell 0.9% to $945.70, while palladium inched up 0.2% at $994.40 an ounce.

Meanwhile, copper futures slipped 1.2 cents, or 0.4%, to stay close to a six-week low of $3.055 a pound amid concerns over a slowdown in China's economy. The Asian nation the world's top user of the red metal.

Japan stocks lower at close of trade; Nikkei 225 down 0.62%

Investing.com – Japan stocks were lower after the close on Monday, as losses in the Gas&Water, Paper&Pulp and Power sectors led shares lower.

At the close in Tokyo, the Nikkei 225 lost 0.62%.

The best performers of the session on the Nikkei 225 were Fujikura Ltd. (T:5803), which rose 6.01% or 57.0 points to trade at 1005.0 at the close. Meanwhile, Denki Kagaku Kogyo K.K. (T:4061) added 4.24% or 165.0 points to end at 4055.0 and Furukawa Electric Co., Ltd. (T:5801) was up 3.45% or 200.0 points to 6000.0 in late trade.

The worst performers of the session were Toshiba Corp. (T:6502), which fell 5.83% or 17.0 points to trade at 274.5 at the close. MS&AD Insurance Group Holdings (T:8725) declined 5.51% or 204.0 points to end at 3500.0 and DeNA Co Ltd (T:2432) was down 4.00% or 112.0 points to 2689.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2162 to 1136 and 200 ended unchanged.

Shares in Denki Kagaku Kogyo K.K. (T:4061) rose to all time highs; up 4.24% or 165.0 to 4055.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 4.42% to 20.06.

Crude oil for January delivery was down 0.21% or 0.12 to $56.59 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 0.29% or 0.18 to hit $62.54 a barrel, while the December Gold Futures contract fell 0.39% or 5.06 to trade at $1291.44 a troy ounce.

USD/JPY was down 0.05% to 112.03, while EUR/JPY fell 0.39% to 131.64.

The US Dollar Index Futures was up 0.18% at 93.78.

Taiwan stocks lower at close of trade; Taiwan Weighted down 0.35%

Investing.com – Taiwan stocks were lower after the close on Monday, as losses in the , Other Electronic and Semiconductor sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted declined 0.35%.

The best performers of the session on the Taiwan Weighted were Optimax Technology Corp (TW:3051), which rose 10.00% or 0.51 points to trade at 5.61 at the close. Meanwhile, Standard Chemical&Pharmaceutical Co Ltd (TW:1720) added 9.99% or 3.40 points to end at 37.45 and Shinih Enterprise Co Ltd (TW:9944) was up 9.95% or 1.85 points to 20.45 in late trade.

The worst performers of the session were Jui Li Enterprise Co Ltd (TW:1512), which fell 10.00% or 1.02 points to trade at 9.18 at the close. ALi Corp (TW:3041) declined 8.82% or 1.65 points to end at 17.05 and Young Optics Inc (TW:3504) was down 5.51% or 3.40 points to 58.30.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 426 to 349 and 102 ended unchanged.

Shares in Optimax Technology Corp (TW:3051) rose to 52-week highs; rising 10.00% or 0.51 to 5.61. Shares in Standard Chemical&Pharmaceutical Co Ltd (TW:1720) rose to 52-week highs; up 9.99% or 3.40 to 37.45.

Crude oil for January delivery was down 0.16% or 0.09 to $56.62 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January fell 0.14% or 0.09 to hit $62.63 a barrel, while the December Gold Futures contract fell 0.40% or 5.24 to trade at $1291.26 a troy ounce.

USD/TWD was down 0.04% to 30.072, while TWD/CNY unchanged 0.00% to 0.2204.

The US Dollar Index Futures was up 0.28% at 93.87.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.19%

Investing.com – Australia stocks were lower after the close on Monday, as losses in the Utilities, Consumer Discretionary and Financials sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 0.19%.

The best performers of the session on the S&P/ASX 200 were Seven Group Holdings Ltd (AX:SVW), which rose 7.97% or 1.055 points to trade at 14.285 at the close. Meanwhile, APN Outdoor Group Ltd (AX:APO) added 4.41% or 0.200 points to end at 4.740 and Southern Cross Media Group Ltd (AX:SXL) was up 3.65% or 0.040 points to 1.135 in late trade.

The worst performers of the session were Australian Agricultural Company Ltd (AX:AAC), which fell 4.06% or 0.055 points to trade at 1.300 at the close. Domain Holdings Australia Ltd (AX:DHG) declined 3.80% or 0.140 points to end at 3.540 and Myob Group Ltd (AX:MYO) was down 3.54% or 0.130 points to 3.540.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 687 to 541 and 347 ended unchanged.

Shares in Seven Group Holdings Ltd (AX:SVW) rose to all time highs; rising 7.97% or 1.055 to 14.285. Shares in Australian Agricultural Company Ltd (AX:AAC) fell to 52-week lows; losing 4.06% or 0.055 to 1.300. Shares in Domain Holdings Australia Ltd (AX:DHG) fell to all time lows; down 3.80% or 0.140 to 3.540.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.56% to 11.569.

Gold Futures for December delivery was down 0.35% or 4.54 to $1291.96 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.14% or 0.08 to hit $56.63 a barrel, while the January Brent oil contract fell 0.13% or 0.08 to trade at $62.64 a barrel.

AUD/USD was down 0.09% to 0.7557, while AUD/JPY fell 0.15% to 84.67.

The US Dollar Index Futures was up 0.32% at 93.91.

Crude Oil Prices Dip In Asia As Middle East Risk Premium Ebbs

Investing.com - Crude oil prices dipped in Asia on Monday as the market backed off a risk premium based on Middle East tensions between Arab states and Iran even as Saudi Arabia at the weekend again criticized Tehran for supporting terrorism.

U.S. West Texas Intermediate (WTI) crude futures fell 0.12% to $56.64 a barrel. Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., dipped 0.27% tot $62.56 a barrel.

In the week ahead, trade volumes are expected to remain light around Thursday\'s Thanksgiving holiday and Friday\'s shortened trading session.

Market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

Last week, crude oil prices jumped on Friday, but failed to offset their first weekly loss in six weeks as fears over rising U.S. output persisted, while falling expectations for an extension of OPEC-led output curbs weighed on sentiment.

Despite rising sharply on Friday, crude oil futures failed to pare losses made earlier in the week amid ongoing investor fears that rising U.S. output would dampen OPEC’s efforts to rid the market of excess supplies.

Preliminary U.S. production figures released during the week showed weekly output increased by 25,000 barrels per day (bpd) to an all-time high of 9.65 million, while crude oil stockpiles rose for second week in a row.

Oilfield services firm Baker Hughes reported Friday that the number of active U.S. rigs drilling for oil remained unchanged from a week ago at 738. The weekly rig count is an important barometer for the drilling industry and serves as a proxy for domestic oil production.

The International Energy Agency said earlier in the week that the U.S. would account for 80% of the global increase in oil production over the next decade.
Meanwhile, growing concern that Russia was reluctant to support an extension of an existing OPEC-led production cut agreement further weighed.

Under the original terms of the deal, OPEC and 10 other non-OPEC countries led by Russia agreed to cut production by 1.8 million barrels a day (bpd) for six months. The agreement was extended in May of this year for a period of nine more months until March 2018 in a bid to reduce global oil inventories and support oil prices.

Discussions are continuing in the run-up to the Nov. 30 meeting, which oil ministers from OPEC and the participating non-OPEC countries will attend.

Euro Falls In Asia As Germany Coalition Talks Appear To Fail

Investing.com - The euro fell in Asia on Monday as German Chancellor Angela Merkel said on Monday she would meet the German president to inform him that she had failed to form a coalition government with the Greens and the pro-business Free Democrats (FDP).

The decision to meet President Frank-Walter Steinmeier, who has the power to call a new election, signaled that Merkel would not seek a minority government with the Greens after the FDP unexpectedly pulled out of the coalition talks.

"It is a day of deep reflection on how to go forward in Germany," Merkel told reporters. "As chancellor, I will do everything to ensure that this country is well managed in the difficult weeks to come."

EUR/USD eased 0.40% to 1.1744.

USD/JPY traded at 112.5, up 0.05%, while AUD/USD traded at 0.7561, down 0.04%. GBP/USD traded at 1.3205, down 0.07%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.26% to 93.85.

Earlier, Japan reported its trade balance for October came in a a surplus of with a surplus of ¥25 billion, narrower than the ¥33 billion seen and imports rose 18.9%, compared with a 20.2% gain seen and exports rose 14.8%, missing the up 15.8% gain expected. Later on Monday, European Central Bank President Mario Draghi is to testify on the economy and monetary policy in the European Parliament in Brussels.

This week, investors will be focused on Wednesday’s Federal Reserve meeting minutes for fresh clues on the likely trajectory of monetary policy. U.S. data on durable goods orders will be the highlight of the holiday-shortened week. Markets stateside will remain closed on Thursday for the Thanksgiving holiday.

Last week, the dollar fell against a basket of the other major currencies on Friday as investors remained skeptical over whether Republicans can pass a historic tax overhaul.
The House of Representatives on Thursday passed a bill that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

But the legislation may face a tougher fight in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

The dollar was also pressured lower by news reports that special counsel Robert Mueller’s investigators probing possible Russian interference in the 2016 U.S. election had subpoenaed President Donald Trump’s campaign requesting documents.

The reports added to concerns that the probe will hinder the Trump administration’s ability to pass tax reform or other fiscal reform measures that would support the economy.

The euro pushed higher, with EUR/USD up 0.18% at 1.1791 late Friday.

Sterling retreated from a two-and-a-half week high to 1.3213 in late trade after the European Union repeated an early December deadline for Prime Minister Theresa May to move on Britain’s Brexit divorce bill.

Meanwhile, the Australian and New Zealand dollar both ended the week sharply lower against the greenback as the narrowing spread between U.S. and both Australian and New Zealand government debt undermined their appeal as carry trades.

Germany's Merkel hints at snap polls as coalition talks teeter

Investing.com - Chancellor Angela Merkel said on Monday she would meet the German president to inform him that she had failed to form a coalition government with the Greens and the pro-business Free Democrats (FDP).

The decision to meet President Frank-Walter Steinmeier, who has the power to call a new election, signaled that Merkel would not seek a minority government with the Greens after the FDP unexpectedly pulled out of the coalition talks. "It is a day of deep reflection on how to go forward in Germany," Merkel told reporters. "As chancellor, I will do everything to ensure that this country is well managed in the difficult weeks to come."

Yen Gains In Asia Despite Trade data, EUR/USD In Focus On German Politics

Investing.com - The yen was quoted higher in Asia on Monday on some safe-have demand and shrugged off disappointing trade data with concerns in the background about German Chancellor Angela Merkel's ability to pull together a coalition government in Europe\'s largest economy.

USD/JPY traded at 112.04, down 0.04, while AUD/USD traded at 0.7554, down 0.13%. GBP/USD traded at 1.3201, down 0.10%, while EUR/USD eased 040% to 1.1745.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.25% to 93.61.

Japan reports its trade balance for October came in a a surplus of with a surplus of ¥25 billion, narrower than the ¥33 billion seen and imports rose 18.9%, compared with a 20.2% gain seen and exports rose 14.8%, missing the up 15.8% gain expected. Later on Monday, European Central Bank President Mario Draghi is to testify on the economy and monetary policy in the European Parliament in Brussels.

This week, investors will be focused on Wednesday’s Federal Reserve meeting minutes for fresh clues on the likely trajectory of monetary policy. U.S. data on durable goods orders will be the highlight of the holiday-shortened week. Markets stateside will remain closed on Thursday for the Thanksgiving holiday.

Last week, the dollar fell against a basket of the other major currencies on Friday as investors remained skeptical over whether Republicans can pass a historic tax overhaul.

The House of Representatives on Thursday passed a bill that would lower corporate taxes and cut individual taxes for most households in 2018, in a step towards the biggest U.S. tax code overhaul since the 1980s.

But the legislation may face a tougher fight in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

The dollar was also pressured lower by news reports that special counsel Robert Mueller’s investigators probing possible Russian interference in the 2016 U.S. election had subpoenaed President Donald Trump’s campaign requesting documents.

The reports added to concerns that the probe will hinder the Trump administration’s ability to pass tax reform or other fiscal reform measures that would support the economy.

The euro pushed higher, with EUR/USD up 0.18% at 1.1791 late Friday.

Sterling retreated from a two-and-a-half week high to 1.3213 in late trade after the European Union repeated an early December deadline for Prime Minister Theresa May to move on Britain’s Brexit divorce bill.

Meanwhile, the Australian and New Zealand dollar both ended the week sharply lower against the greenback as the narrowing spread between U.S. and both Australian and New Zealand government debt undermined their appeal as carry trades.

Crude Oil Prices - Weekly Outlook: November 20 - 24

Investing.com - Crude oil prices jumped on Friday, but failed to offset their first weekly loss in six weeks as fears over rising U.S. output persisted, while falling expectations for an extension of OPEC-led output curbs weighed on sentiment.

U.S. West Texas Intermediate (WTI) crude futures rose $1.36, or around 2.5%, to end at $56.71 a barrel by close of trade, snapping a five-session losing streak.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., rallied $1.36, or roughly 2.2%, to settle at $62.72 a barrel.

For the week, WTI still suffered a 0.3% slump, while Brent lost about 1.3%, following gains in each of the previous five weeks.

Despite rising sharply on Friday, crude oil futures failed to pare losses made earlier in the week amid ongoing investor fears that rising U.S. output would dampen OPEC’s efforts to rid the market of excess supplies.

Preliminary U.S. production figures released during the week showed weekly output increased by 25,000 barrels per day (bpd) to an all-time high of 9.65 million, while crude oil stockpiles rose for second week in a row.

Oilfield services firm Baker Hughes reported Friday that the number of active U.S. rigs drilling for oil remained unchanged from a week ago at 738. The weekly rig count is an important barometer for the drilling industry and serves as a proxy for domestic oil production.

The International Energy Agency said earlier in the week that the U.S. would account for 80% of the global increase in oil production over the next decade.

Meanwhile, growing concern that Russia was reluctant to support an extension of an existing OPEC-led production cut agreement further weighed.

Under the original terms of the deal, OPEC and 10 other non-OPEC countries led by Russia agreed to cut production by 1.8 million barrels a day (bpd) for six months. The agreement was extended in May of this year for a period of nine more months until March 2018 in a bid to reduce global oil inventories and support oil prices.

Discussions are continuing in the run-up to the Nov. 30 meeting, which oil ministers from OPEC and the participating non-OPEC countries will attend.

In other energy trading, gasoline futures tacked on 3.1 cents, or 1.8%, to end at $1.744 on Friday. It still closed down around 3.7% for the week, the first weekly loss in six weeks.

Heating oil advanced 4.4 cents, or 2.3%, to $1.946 a gallon, marking a 0.6% weekly gain and booking its sixth weekly climb in a row.

Natural gas futures climbed 4.4 cents, or almost 1.5%, to settle at $3.097 per million British thermal units, but still lost about 3.6% for the week. On Thursday, the Energy Information Administration reported the first weekly decline of the winter heating-fuel season for U.S. natural-gas supplies.

In the week ahead, trade volumes are expected to remain light around Thursday's Thanksgiving holiday and Friday's shortened trading session.

Market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

Tuesday, November 21

The American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.

Wednesday, November 22

The U.S. Energy Information Administration is to release weekly data on oil and gasoline stockpiles.

Later on, the U.S. government will also publish a weekly report on natural gas supplies in storage. It comes out one day ahead of its normal release time due to the Thanksgiving holiday.

Baker Hughes will release weekly data on the U.S. oil rig count, two days earlier than usual, also as a result of Thanksgiving.

Thursday, November 23

Financial markets in the U.S. are to remain closed for Thanksgiving.

United Arab Emirates stocks lower at close of trade; DFM General down 1.07%

Investing.com – United Arab Emirates stocks were lower after the close on Sunday, as losses in the Transport, Real Estate&Construction and Consumer Staples sectors led shares lower.

At the close in Dubai, the DFM General fell 1.07%, while the ADX General index lost 1.12%.

The best performers of the session on the DFM General were Oman Insurance Company P.S.C. (DU:OIC), which rose 5.88% or 0.100 points to trade at 1.800 at the close. Meanwhile, National Central Cooling Co. (DU:TABR) added 2.70% or 0.050 points to end at 1.900 and Deyaar Development PJSC (DU:DEYR) was up 1.43% or 0.007 points to 0.496 in late trade.

The worst performers of the session were Damac Properties Dubai Co PSC (DU:DAMAC), which fell 5.28% or 0.190 points to trade at 3.410 at the close. ARAMEX PJSC (DU:ARMX) declined 3.60% or 0.170 points to end at 4.550 and Air Arabia PJSC (DU:AIRA) was down 1.61% or 0.020 points to 1.220.

The top performers on the ADX General were Ad Natl Ins Co (AD:ADNI) which rose 11.11% to 4.000, Sharjah Cement AD (AD:SCID) which was up 2.86% to settle at 1.080 and Rak Ceramics (AD:RKCE) which gained 2.39% to close at 2.570.

The worst performers were Gulf Pharm Ind (AD:GPHI) which was down 4.89% to 2.140 in late trade, Ad Natl Energy (AD:TAQA) which lost 4.62% to settle at 0.620 and Gulf Medical Projects Co PSC (AD:GMPC) which was down 4.55% to 2.10 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 21 to 9 and 8 ended unchanged; on the Abu Dhabi, 15 fell and 4 advanced, while 7 ended unchanged.

Shares in Ad Natl Ins Co (AD:ADNI) rose to 52-week highs; rising 11.11% or 0.400 to 4.000.

Crude oil for January delivery was unchanged 0.00% or 0.00 to $56.71 a barrel. Elsewhere in commodities trading, Brent oil for delivery in January rose 2.23% or 1.37 to hit $62.73 a barrel, while the December Gold Futures contract rose 1.27% or 16.21 to trade at $1294.41 a troy ounce.

USD/AED was unchanged 0.00% to 3.6730, while EUR/AED rose 0.22% to 4.3323.

The US Dollar Index Futures was down 0.25% at 93.61.

CFD e Forex sono prodotti con leva. CFD Trading comporta un alto livello di rischio in quanto la leva può funzionare sia a vantaggio che a svantaggio. Di conseguenza, I CFD potrebbero non essere adatti a tutti gli investitori, perché si rischia di perdere tutto il capitale investito. Si prega di consultare l’intera dichiarazione dell’assunzione del Rischio.