EU WRAP: US Stocks Recorded All-time High; Vix Up 2.61%


*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.



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