Stock markets around the world have been trading up and down (swinging down into the red more recently) within sideways ranges overnight with no major news to enable larger moves. Today we could see some interest in US markets on the GDP update but would probably only see a big move on a big surprise. The pendulum of central bank policy continues to swing back toward neutrality from the extreme dovishness that dominated earlier this year. The Fed’s decision to raise interest rates for the first time in nine years has been followed by others including central bank in Hong Kong and Mexico just after the Fed last week and Turkey this morning. Crude oil, both Brent and WTI appears to have stabilized near the 2008 lows with traders apparently unwilling to push things lower in light trading Corporate News There have been no major corporate announcements so far today. Economic News Significant announcements released overnight include: Turkey repurchase rate 0.50% increase to 8.00% as expected Turkey overnight lending 10.75% no change as expected Turkey overnight borrowing 0.25% increase to 7.50% as expected Sweden producer prices (1.5%) vs previous (1.8%) Sweden retail sales 5.2% vs street 4.0% Upcoming significant announcements include: 8:30 am EDT US Q3 GDP Update street 1.9% vs previous 2.1% 8:30 am EDT US Q3 personal consumption street 2.9% 8:30 am EDT US Q3 core PCE inflation street 1.3% 9:00 am EDT US FHFA house prices street 0.5% 10:00 am EDT US existing home sales street 5.35M CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.