Are falling crude oil prices a good or bad thing? The Saudi oil price war is raising those questions as they cut the selling price to Asia and say they think oil will stabilize at $60 a barrel which may become a self-fulfilling prophecy.
The characterisation of Europe as “elderly and haggard” by Pope Francis is an accurate one, but on Dec. 4 the European Central Bank could lay the groundwork to try and revitalise the region's sagging economy. And though quantitative easing might be justified on inflation levels (prices are likely to weaken further on falling commodity prices)--Draghi clearly faces tough opposition within the ECB, hence QE hasn't happened yet.
Overall, U.S. markets saw the biggest inflows this month, creating a strong bearish signal on the U.S. Dollar heading into the final trading day of the month on Friday. That said, the timing of the Thanksgiving holiday may prompt some U.S. fund managers to rebalance a bit earlier on Wednesday.