Markets were given an extra boost after Germany released better-than-expected investor confidence data. Germany’s index of investor and analyst expectations increased to a seven-month high of 6.9 in December, from -15.7 in the previous month.
The UK’s FTSE put on three points (+0.1%) to settle at 5925 whilst Germany’s DAX climbed 59 points (+0.8%) to settle at 7590. France’s CAC added 34 points (+0.9%) to settle at 3646.
The Dow Jones firmed 79 points (+0.6%) to settle at 13248 whilst the S&P increased nine points (+0.7%) to settle at 1428. The Nasdaq rose 35 points (1.2%) to settle at 3022.
In the commodity space, crude oil for January delivery increased $0.23 (+0.3%) to settle at $85.79 a barrel after Germany, oil’s biggest consumer in the euro area, released positive data.
Gold futures for February delivery declined 0.3% to settle at $1709.60 an ounce as the investing public wait on the Federal Open Market Committee’s (FOMC) decision with regard to monetary policy. The euro regained its strength after the euro area’s largest economy, Germany, released better-than-forecasted data.
The US dollar fell against most of its counterparts due to the high likelihood that the FOMC meeting will result in the announcement of more asset purchases. Today we will hear from RBA Governor Stevens (3:30pm, AEDT) and receive Westpac Consumer Sentiment data (10:30am, AEDT).