Market Update:
U.S. equity futures dropped on Thursday whilst U.S. trading was subdued as a result of the U.S. Thanksgiving holiday; Presidents Donald Trump and Xi Jinping plan to meet at the end of November for the G20 Summit in Argentina with no guarantee of a trade deal, according to Bloomberg; The mining sector sell off in Mexico has worsened on fears of tougher mining regulation under incoming president Andres Manuel Lopez Obrador, this has weighed heavily on investor sentiment with top stocks falling for the third consecutive day; The British pound is set for its biggest gain in over a week as the U.K. and the E.U. agreed in principle to a draft declaration on future ties, according to Bloomberg; Nickel fell to its lowest this year (-0.4% to 10,902 US$/t) as base metals remained under pressure over growing concerns regarding a slowing global economy; Gold is expected to remain a safe haven over equity markets given the uncertainty over the U.K.’s withdrawal from the EU, the U.S. gold price gained 0.1% to 1,226.8 US$/oz overnight.
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