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Optimism likely to prevail on Wall Street today

FXStreet (Mumbai) - The action in the US Index futures indicates the Wall street is likely to start the week on a positive note as the markets remain optimistic after China’s rate cut and the European Central Bank’s (ECB) stimulus talk.

At the time of writing, the DJIA December futures traded up by 0.26%, while the S&P500 December futures gained 0.29%. Meanwhile, the NASDAQ futures traded 0.35% higher. Earlier today, most of the Asian stock markets closed higher, while the European equities also extended Friday’s gains.

Investors will watch out for the Markit’s service sector Purchasing Manager Index for November and the Dallas Fed manufacturing activity index. The consensus estimate calls for an increase in the Service PMI to 57.8 from 57.3 in October. Meanwhile, the Treasury is set to announce the result of its auction of 2-year notes.

GBP/JPY sold at 185.60; back to 185.30

The Pound's rally from 187.00 versus de the Japanese Yen found a selling interest in 185.60 that sent it back to operate at 185.30. Currently, GBP/JPY is trading at 185.51, up 0.63% on the day, having posted a daily high at 185.63 and low at 184.05.
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EUR/CHF volatility options pricing concerns ahead of Swiss gold vote

EUR/CHF implied volatility has seen a strong move today on concerns ahead of next week’s Swiss gold vote. The “Save Our Gold” referendum would require the Swiss National Bank to hold at least 20 percent of its reserves in gold and buy gold alongside euros as it defends its EUR1.200 floor.
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