Market wrap: dollar lower and oil dropped on OPEC - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: US equities rose (S&P500 +0.4% to a fresh record high) as did bulk metals, but oil fell over 3% on OPEC indecision. The US dollar retreated further from its multi-year high.

Interest rates: Markets returned from Thanksgiving for a shortened trading session and bought US treasuries, the 10yr falling from 2.41% to 2.35%. The 2yr yield fell from 1.17% to 1.12%. Fed funds futures continued to imply a 100% chance of a rate hike in December.

Currencies:  The US dollar index closed around 0.2% lower. EUR rose from 1.0580 to 1.0627. USD/JPY fell from 113.50 to 112.56. AUD initially nudged a little higher, from 0.7440 to 0.7468, but then slipped back to 0.7420. NZD rose from 0.7010 to 0.7062. AUD/NZD fell from 1.0610 to 1.0540."