📆 Friday, December 1
► European equity futures saw slight gains after the release of Eurozone manufacturing data. The Stoxx 600 index inched higher, rising up more than 0.5%. Manufacturing PMIs showed cautious positive signals as expected with France's PMI rising to (still very poor) 42.90, Germany's to 42.60, and the rest of the Eurozone to 44.20. This indicates an improvement in the manufacturing sector, although data remains deep in contraction territory. Market participants are keenly awaiting Federal Reserve Chair Jerome Powell's speech (16:00 UTC+0) for insights on future interest rate decisions. Also UK PMIs improved (to 47.2 up from 44.8 in October).
► US futures were slightly down after a strong performance in November. All major US indices posted significant gains, marking one of its best Novembers on record, rising nearly 8% – 10% for the month. Traders are now focusing on Powell's upcoming speech and its implications for the rate hike trajectory. The USD was able to reduce its heavy monthly losses somewhat yesterday and is trading little changed today, but is still in normalization mode as the Fed nears the end of its monetary tightening.
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