CAC40: Upswing after a deluge of US statistics, the dollar loses -0.5%.

(CercleFinance.com) - The Paris Bourse (-0.
6% to 7,145) rallied sharply and erased half its mid-day losses (-1.2% to 7,095) following the publication of an impressive salvo of US indicators, released in anticipation of the Thanksgiving holiday.
Wall Street reopened without direction (Dow Jones at +0.3%, S&P500 at -0.3%), but is not "letting up" following new all-time highs on the Dow and S&P the previous day.

The main "macro" indicator was GDP (growth of the US economy "revised" to 2nd estimate), which reached 2.8% annualized in the third quarter.
The Commerce Department points out that the upward revision to investment compared with the previous estimate was offset by a downward revision to exports and consumer spending.

The most eagerly awaited figure was the price "component": the US PCE rose at an annual rate of 2.3% in October, in line with expectations, after 2.1% in September. In the core version, it rose by 2.8% year-on-year, as expected, following a 2.7% increase in September

The Labor Department announced that 213,000 new jobless claims were registered in the US in the week ending November 18, down by 2,000 on the previous week, when the figure was revised from 213,000 to 215,000.
Finally, the number of people receiving regular benefits rose by 9,000 to 1,907,000 during the week of November 11, the most recent period available for this statistic.

The Labor Department adds that this is the highest level of insured unemployment since November 13, 2021 (when it stood at 1,974,000).
n October, sales promises rose by 2% in the USA, against an expected fall of 2.1%. They had risen by 7.5% in September.

US durable goods orders rose by 0.2% between September and October (versus -0.4% in September), according to the Commerce Department.
Excluding the transportation sector, US durable goods orders rose by 0.1% last month, still at a sequential rate.
Meanwhile, shipments of durable goods by US industry fell by a further 0.6% month-on-month, impacted in particular by the downturn in defense shipments (-0.8%).

Lastly, promised new home sales rose by 2% in October in the US, against an expected fall of 2.1% (they had risen by 7.5% in September).

Unsurprisingly, the minutes of the last Federal Reserve meeting - published yesterday evening - showed that the US central bank had not predefined any particular path for its monetary policy, but that it remained as dependent as ever on the evolution of economic statistics.

The yield on ten-year US Treasuries was down -3pts to 4.273%, while its German equivalent was down -2.3pts to 2.176%, and our OATs only -0.5pts to 3.02%.
The divergence between German Bunds and French OATs is widening, with the spread now reaching 87 basis points, its worst score since dissolution on June 9.

The dollar corrects after a new test of 1.0465 on Tuesday, and the euro (+0.5%) takes advantage of this to return to the vicinity of 1.0540 against the greenback.

On the energy front, the oil market seems little affected by the entry into force of a ceasefire in Lebanon after two months of conflict between Hezbollah and Israel

Brent crude is stable at around $73, while US light crude (West Texas Intermediate, WTI) is also up 0.2% at $68.9.

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