German Chancellor Olaf Scholz spoke with Ukrainian President Volodymyr Zelenskyy, expressing unwavering solidarity and support for Ukraine. Scholz highlighted that Ukraine’s future lies within the European Union and reaffirmed Germany’s commitment to stand by Ukraine, along with European and international partners.
In other news, U.S. stocks opened slightly higher, and New York Federal Reserve President John Williams anticipates that interest rates will remain high for a while longer to combat inflation. The euro dropped after euro zone inflation rates fell more than expected, causing concern about potential interest rate cuts by the European Central Bank.
Unemployment has risen in Germany, with 2.702 million people out of work in November, and the French economy contracted slightly in the third quarter. However, German retail sales rose by 1.1% in October, exceeding analyst expectations and providing a boost in the retail sector.
European markets opened higher on the last day of November, while the European Central Bank is preparing for its December meeting to discuss potential interest rate cuts. Additionally, three stocks are forming a bullish ‘golden cross’ chart and could rally, while global stocks linked to the autonomous vehicle boom are on the rise.
Experts are analyzing whether it’s worth investing in cash or bonds for the next two years and beyond, as market conditions continue to evolve. Finally, European markets are expected to open positively, with key economic data on inflation and GDP set to be released later in the day.