Dollar dips after recent strong gains; euro advances
The dollar slipped on Monday after rising 10 straight days as investors consolidated gains fuelled by the election of a new Republican president who is expected to adopt fiscal policies leading to interest rate increases.
European shares end up, helped by cyclical stocks
European shares rose on Monday, helped by a rise in commodity prices as investors continued to buy cyclical stocks and sell defensives on bets that the U.S. presidential election result might revive inflation globally.
Oil Speculation Rule Gets Final CFTC Push Before Trump Takeover
Timothy Massad, the top U.S. derivatives regulator, is trying to push ahead before President-elect Donald Trump takes office with controversial rules that clamp down on traders’ ability to speculate in oil and other commodities, according to people familiar with the matter.
Draghi Says Recovery Still Highly Reliant on ECB Policy Support
European Central Bank President Mario Draghi said the recovery in the 19-nation euro area isn’t yet strong enough to deliver sustained reflation, and the current level of monetary support will be a “key ingredient” for the economic outlook in the coming years.