As U.S. markets paused for Thanksgiving, European equities staged a rebound on Thursday, snapping a three-day losing streak. Lower-than-expected consumer inflation data from Germany rekindled optimism for more aggressive rate cuts by the European Central Bank (ECB).
Germany’s annual inflation rate edged higher, rising from 2.0% in October to 2.2% in November , but came in just below market expectations of 2.3%. On a monthly basis, Germany’s consumer price index (CPI) fell 0.2%, marking the sharpest decline in over a year. The unexpected contraction in monthly CPI added to speculation that the ECB could accelerate monetary easing to support the region’s economy.
European Equities Post Gains
The Euro STOXX 50, a key benchmark for the eurozone's 50 largest blue-chip stocks, closed up 0.5%, buoyed by gains in industrials and energy stocks. Among the biggest winners were:
- Airbus SE (OTCPK: AEDSY): +4.2%
- RWE AG (OTCPK: RWEOY): +2.7%
- ASML Holding NV (NASDAQ:ASML): +2.3%
Dollar Rebounds, Yen Slips After Wednesday’s Rally
Meanwhile, the euro slipped 0.2%, trading at $1.0550 against the U.S. dollar. A currency weighted measure of the greenback – tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) – was also up by 0.2%.
The yen was the underperformer among major currencies, falling by 0.3% following a 1.3% rally on Wednesday.
Commodities: Gold Shines, Oil Sees Volatility
Commodities were mixed in Thursday’s session:
Crypto Struggles To Maintain Momentum
Cryptocurrencies saw a pullback after recent gains:
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