The main European indices opened this morning with slight gains but changed course around 12 o'clock CET. It is registering slight falls on a day without references from the United States, where Thanksgiving is being celebrated and Wall Street will remain closed. Today's session in Europe, therefore, seems to be one of transition in the month of November in which the European stock markets have registered increases of double digits. Take, for example, the DAX.
Source: Admiral Markets MetaTrader 5. Daily DAX CFD chart. Data range: from May 17, 2017, to November 26, 2020. Prepared on November 26, 2020, at 12:20 p.m. CET. Keep in mind that past returns do not guarantee future returns.
Investors are waiting for new advances in Covid-19 vaccines and for the news that the European Central Bank and the Federal Reserve may announce at their December meetings, in which new stimuli could be agreed to stop the economic crisis. All this, after the Government in Germany announced that the hotel industry would remain closed during the Christmas holidays and would open the door to maintain some restrictions at least until March.
In the UK, Finance Minister Rishi Sunak pointed out that the British economy could close the year with a decline of 11% and that the Government plans to borrow around 400 million pounds.
With this outlook, and after the bullish rally of the main world indices in November, there are those who are wondering if the Santa Claus rally has already passed.
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