US futures are showing positive movement as the Thanksgiving holiday approaches. In Europe, French bonds approached parity with Greek debt as the nation’s budget saga deepened, further straining French banks amid the ongoing fiscal crisis. Meanwhile, oil prices rose on escalating Middle East tensions, while gold retreated in thin holiday trading. Closer to home, the Aussie dollar climbed in subdued holiday trade. However, Australian shares are expected to ease from record highs after Reserve Bank Governor Michelle Bullock dampened hopes for an interest rate cut. The central bank reiterated that inflation remains too elevated to consider near-term rate reductions.

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