Top 3 Things to Know in the Market on Thursday

Here are top 3 things to know in the market on Thursday before you jump on the charts.

1. China to Ease US Treasury Bond Purchases

Global stock markets eased as investors put their selloff on the back burner on news that China might potentially halt their US bond purchases.

The majority of Asian-Pacific markets closed lower following a softer signal from Wall Street overnight.

In Europe, most of the stock trading was mixed as investors kept their eyes peeled for the release of corporate earnings during the mid-morning session.

US stock futures hit a slightly higher open. The S&P 500 and NASDAQ continued to count gains on Wednesday on news about China losing interest in US bonds.

2. Crude Still on 3-Year Highs

Following API’s report that US crude oil inventories dropped for the eighth week in a row, oil prices went up, holding on to gains at 3-year highs.

WTI crude closed at $63.33 per barrel, while Brent crude ended the trading day on Wednesday at $69.09 per barrel.

On Thursday WTI crude hit a daily open of $63.91 per barrel and Brent crude started the day at $69.32 per barrel. Will oil prices continue their surge?

According to Goldman Sachs, OPEC might potentially talk oil prices down if Brent crude, the international benchmark for oil prices, continues to rise.

3. AUD, EUR in Focus

Well, last but not the least, the 3rd item on our 3 top things to know in the market on Thursday list – AUD and EUR news.

Australia released its trade balance and retail sales data, which showed a 1.2% growth on monthly basis in November against a 0.5% rise seen previously.

Drawing impetus from the news, AUDUSD reached a daily open of 0.78719 on Thursday and is now hovering above 0.78755.

By comparison, EUR posed a neutral stance against the USD ahead of the ECB monetary policy meeting minutes release, opening at 1.19465.

Following the Eurozone data and the ECB monetary policy meeting minutes release, EURUSD gained momentum, as of writing trading at 1.20400 and above.