It’s US Thanksgiving week, a time when markets usually pause for a break with a lot of traders heading home for the holidays, football and shopping. The initial impact of the US election has run its course and traders are now looking ahead to a flurry of economic numbers on Wednesday morning and Black Friday sales reports into next weekend. Today finds US index futures for the S&P and NASDAQ up 1.2% with Dow futures marginally in the green. The Dow remains just below all-time highs near 19,000 with the S&P sitting just below 2,190. The US Dollar Index has paused to rest and remains vulnerable to potential profit taking ahead of the holiday weekend. European markets are also trading higher to start the week The FTSE is up 0.6% while the Dax is up 0.4%. Political news has been dominating trading across the pond with talk around the UK autumn statement indicating plans to build on current monetary support. Former French President Sarkozy lost his party’s primary for next year’s election to Francois Fillion while German PM Merkel announced her intention to run for a fourth term in office next year. Italy’s FTSEMIB is down 0.4% after weekend polls, the final ones before the December 4th constitutional referendum show the No side with a growing lead which could lead to the resignation of PM Renzi and another rejection of the establishment. EUR is trading broadly higher today on all of this news with the Bundesbank expecting a strong Q4 for Germany and inflation expectations picking up. The biggest moves have been in energy and metals markets this morning. Renewed deal speculation heading toward the November 30 OPEC meeting has WTI up 2.0% and Brent up 2.2%. In metals, copper is up 2.2% overnight while previous metals (gold, silver and platinum) are up 0.8% across the board. This could provide support to resource stocks today along with resource currencies including CAD and AUD. Corporate News Canadian Solar $0.27 vs street $0.21 Economic News Japan exports (10.3%) vs street (8.5%) Japan imports (16.5%) vs street (16.1%) Upcoming significant economic announcements include: 8:30 am EST Canada wholesale sales street 0.5% 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.