European Shares To Open On Steady Note; Fed Minutes Eyed

European stocks are seen opening broadly higher Tuesday on growing expectations that U.S. interest rates may have peaked.

That said, overall trading activity may be somewhat subdued due to the Thanksgiving Day holiday in the U.S. on Thursday and a shortened trading day on Friday.

The dollar nursed losses while Treasury yields edged up slightly as traders await the minutes from Federal Reserve’s latest meeting later in the day that could offer important clues on the Fed’s rate trajectory.

Richmond Fed president Thomas Barkin said it’s not yet the right time to declare victory on inflation and focus should remain and getting price growth back to the 2 percent goal.

Gold traded higher and looks all set to break above the S2,000 level per ounce, while oil prices slipped after having risen more than 2 percent on Monday amid hopes of OPEC+ deepening output cuts.

Asian markets were broadly higher to hit a two-month high on the back of dovish Fed expectations, easing U.S.-Sino tensions and optimism over a recovery in China’s property sector.

According to Bloomberg, Chinese regulators are drafting a list of 50 developers eligible for a range of financing.

Investors also await Nvidia results for more AI cues.

Bank of England’s Governor Andrew Bailey is set to testify before the parliamentary committee later today.

European Central Bank President Christine Lagarde is set to speak on the occasion of the 100th anniversary of the currency reform in Germany in 1923.

U.S. stocks started a holiday shortened week on a positive note overnight as bond yields slipped after a strong 20-year notes auction and Microsoft announced it has hired Altman to spearhead “a new advanced AI research team.”

The tech-heavy Nasdaq Composite jumped 1.1 percent to reach its best closing level since late July, while the S&P 500 added 0.7 percent and the Dow gained 0.6 percent.

European stocks ended mixed on Monday after a strong week driven by dovish Fed bets.

The pan European STOXX 600 finished marginally higher. The German DAX and the U.K.’s FTSE 100 both eased around 0.1 percent while France’s CAC 40 edged up 0.2 percent.

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