Investing.com - Here are the top five things you need to know today in financial markets:
1. Global shares edge higher in quiet trade
Global stock markets edged higher in quiet trade on Thursday, as growing hopes the European Central Bank will announce additional stimulus measures at its meeting next week underpinned sentiment.
Asian stocks ended mostly higher, amid hopes for fresh European stimulus.
In Europe, equities rose to a three-month high as investors anticipated more stimulus from the ECB when it meets next week.
Meanwhile, U.S. markets will be closed Thursday for the Thanksgiving holiday and Friday will be a half day, resulting in low liquidity and thin trade conditions.
2. Euro holds near 7-month lows
The euro slid against the dollar on Thursday, re-approaching seven-month lows amid heightened expectations that the European Central Bank will announce further monetary stimulus measures at its upcoming meeting next week.
Reuters reported Wednesday that the ECB could broaden the scope of its bond-buying program or implement a two-tier penalty charge on banks that leave cash with it.
3. Copper jumps 4%
Prices received another boost amid reports that Chinese smelters are planning a meeting to consider taking action against falling prices.
4. Gold struggles near 6-year lows
Gold struggled near six-year lows in holiday-thinned trade on Thursday, after a recent batch of upbeat U.S. economic data reinforced expectations for a Fed rate hike next month.
Trade volumes were expected to remain light on Thursday, with Comex floor trading scheduled to remain closed for Thanksgiving. An abbreviated session was slated for Friday.
5. Oil edges lower as oversupply concerns persist
Oil prices edged lower on Thursday, as oversupply concerns remained a factor for oil markets. The oil market has been on the defensive in recent months amid uncertainty about how quickly the global glut of crude is set to shrink.
OPEC will meet on December 4 to review their output strategy. Global oil production is outpacing demand following a boom in U.S. shale oil production and after a decision by OPEC last year not to cut production in order to defend their market share.
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