Europe Summary and Highlights 10 Nov
Steady session, US CPI up next
Equities continue to lift, bolstered by lower oil and attempted tech bounce
NOK starting to be dragged by lower oil
Fairly steady session into US CPI, with major pairs consolidating, EUR/USD and USD/JPY fairly flat just above 1.12 and 158 respectively.
Tech and broader equity risk sentiment remains improved as AI-related attempts to correct steep pullback and lower oil generally bolsters. Some background interest draft Anthropic prospectus too, prepping a $65bn~ raise.
Main action is some corrective action starting to be felt in NOK, off just under ½ % on the session across the board. Oil remains lower, front months off around $2 and Brent sitting on around $90 now, re-pricing to the shift in scenario weightings out of the elections and on the back of Trump comments.
Norway CPI meanwhile sees core inflation drop to 2.7% from 3%, below market of 2.8%.