EURO LITTLE CHANGED AFTER REGIONAL DATA

The euro traded lower against the dollar on Thursday, despite several economic reports from the euro zone that were mostly positive.

Spain’s gross domestic product rose last month, in line with expectations.

Instituto Nacional de Estadistica said in a report that Spanish GDP rose to 0.8%, compared with 0.8% in the preceding month and matching analysts' forecasts.

Separately, there were a couple of economic reports from the European Central Bank which said that Euro Zone M3 Money Supply rose to 5.3%, from 4.9% in the preceding month. Analysts had expected Euro Zone M3 Money Supply to remain unchanged at 4.9% last month.

The ECB also reported that Euro Zone Private Sector Lending climbed to 1.2%, from 1.1% in the preceding month. Economists had expected it to rise to 1.2% last month.

A report from Reuters speculating that the ECB is discussing the introduction of two-tiered bank charges and a broader composition of asset purchases has boosted expectations for more aggressive easing to be announced at the December 3 meeting.

EUR/USD was last seen at 1.0610, down 0.12%.

EUR/GBP was higher 0.19% at 0.7036.

Credit: mql5.com

Thank you for reading EURO LITTLE CHANGED AFTER REGIONAL DATA.

OIL DECLINES THURSDAY AS GLUT PERSISTS

Oil fell on Thursday, after six days of gains, as worries that violence in the Middle East would disrupt supply waned, and the focus returned to a persistent oversupply.

Brent crude was down 1.36% at $45.54 a barrel, while WTI futures lost 0.52% to trade at $42.82.

Earlier this week, oil prices were driven up by concerns that the downing of a Russian jet by Turkey could raise geopolitical tensions that could hit supplies. However, by today, those concerns faded and had done little to remove the view that global production will stay high even as stockpiles rise.

A stronger dollar also weighed on oil as it makes it more expensive for holders of other currencies.

The Organization of Petroleum Exporting Countries is determined to continue pumping oil to defend market share, alarming some of the cartel's weaker members who fear prices may drop towards $20.

Analysts meanwhile noted that stocks were building all of last year and in 2015 as well. It's starting to strain inventories and storage space is beginning to shrink.

However, while stockpiles are high and are on the rise in the United States and many European economies, in China, commercial crude oil stocks at the end of October were down 4.4% from the previous month in their biggest fall since at least 2010, the official Xinhua News Agency reported on Thursday.

In November, Brent has lost nearly 8% and is down by 20% this year, after tumbling from above $115 per barrel last year.

U.S. crude had been buoyed on Wednesday by a smaller-than-expected build in U.S. inventories and by a decline in oil rigs, signalling that drillers were awaiting higher prices before returning to the well pad. The data supported WTI futures earlier Thursday.

Credit: mql5.com

Thank you for reading OIL DECLINES THURSDAY AS GLUT PERSISTS.

YEN RECOVERS AFTER DATA; CHINESE SHARES PLUNGE 4%

The Japanese yen recovered Friday although a mixed data set of household spending, consumer prices and unemployment had sent it lower earlier.

USD/JPY traded at 122.38, down 0.15%, while AUD/USD traded at 0.7213, down 0.18%.

In Japan, household spending for October dropped 2.4%, missing the 0.1% year-on-year gain seen and down 0.7% month-on-month, compared to an expected 1.1% gain.

Closely monitored national core consumer prices dropped the expected 0.1% year-on-year for October, but the unemployment rate fell to 3.1% from an awaited 3.4%.

Market players also hope that Japan’s central bank will extend stimulus, after minutes showed officials are open to further action if inflation targets are not reached.

In the stock market, Chinese shares tumbled 4.4% overnight, while markets in the U.S. were closed Thursday for the Thanksgiving holiday.

Chinese authorities’ investigations into two major Chinese brokerages over suspected violations put shares in Shanghai under pressure Friday, pushing the market lower for the week. China’s largest stock broker, Citic Securities Co., said it would cooperate with China’s stock regulator in an investigation of the company for suspected violation of securities rules. Guosen Securities, the country's third-largest broker by assets, reported it is also under investigation for suspected violations, according to a company filing.

Shares of Citic dropped 6.6% in Shanghai and 4.2% in Hong Kong on Friday. Shares of the Hong Kong-listed Guosen dipped 6%.

The Shanghai Composite Index was on track to lose 4% this week, with most of the losses on Friday, when the benchmark tumbled 4.6%.

Concerns over China’s financial-market investigations also weighed on Hong Kong’s Hang Seng Index which lost 1.8% on Friday and is on track to lose around 3% for the week.

Japanese shares lost 0.3% Friday after the Nikkei neared the 20000 level earlier this week.

Australia’s S&P/ASX 200 lost 0.16% and South Korea’s Kospi fell 0.08%.

Credit: mql5.com

Thank you for reading YEN RECOVERS AFTER DATA; CHINESE SHARES PLUNGE 4%.