Weekly Market Outlook | 25.11.2016

All eyes on OPEC.

Despite the uncertainty a Donald Trump presidency entails equity markets seem blissfully unaware. The INDU index breached 19,000 for the first time pulling global equity indices higher. Yet, emerging markets currencies are suffering as DM yields traded higher and investors further rotated out of risky assets. Commodities are mixed as gold continue to decline yet base metals, on expectations for recuperating demand, rallied. This week OPEC meeting will take centre stage with expectations mounting for an agreement on production cut. In Germany, the economic data has been mixed producing pressure on short end yields as the ECB may lift restrictions on asset purchases. President-elect Trump policy has put China back on the map as insecurity around trade relations mounting driving further RMB deprecation. Finally, in Switzerland exports continues to contract due to the strong CHF.