*Possibility of a trade deal drove US stocks higher *General elections loom over in the UK during the Christmas time *Gold back below $1,500
Stocks
- The S&P 500 opened the week strong and the index made all-time high with a gain of 0.19% as of 15:25 London Time.
- The Stoxx Europe 600 gained 0.33% and the move was led by the consumer discretionary sector.
- The SPX VIX index moved higher by 3.08% and the VTSOXX also experienced the upward movement with a gain of 3.25%
- The UK 100 index gained 0.04% and made a low of 7291.
Currencies
- The Dollar Spot Index moved lower by 0.04% ahead of the FOMC decision on the monetary policy. The decision is due on Wednesday.
- The Euro gained 0.07% and made a high of 1.110. The M3 money supply data fell short of the forecast of 5.7%. The actual reading was 5.5%.
- The British Pound rose 0.30% to 1.2864 and made a high of 1.2877. The price is likely to consolidate for now and the volatility may ease off until elections. The no-deal Brexit threat is off the table for now.
- The Japanese yen dropped 0.20% to 108.89 per dollar.
Commodities
- West Texas Intermediate crude oil dropped 1.15%. Despite the possibility of a trade deal, investors have not shown their enthusiasm.
- Gold dropped below the 1500 mark and moved below the 50-day SMA on a daily time frame. The weakness in the dollar index failed to keep the prices higher.
