The dollar is little changed on the day amid varying ranges among major currencies, with the Japanese yen continuing to see larger movements overall. USD/JPY is back to flattish levels to 141.85 but is off its earlier high of 142.46 in early Asia trading. The greenback is also consolidating losses so far this week across the board for now.
Equities continue to sit in a good spot even if the gains yesterday were tempered with, amid some likely profit-taking. After all, this is arguably the last full trading week of the year before things wind down next week. And so, the biggest of risk events were from the central bank decisions in the last two days.
Looking to European trading, PMI data will keep the euro currency under the spotlight as any downside surprises there could fuel further rate cut speculation. That is despite the ECB trying to push back against that slightly yesterday. But any further signs of inflation persistency could help to keep market bets at bay heading into next year at least.
0745 GMT – France November final CPI figures
0815 GMT – France December flash manufacturing, services, composite PMI
0830 GMT – Germany December flash manufacturing, services, composite PMI
0900 GMT – Eurozone December flash manufacturing, services, composite PMI
0930 GMT – UK December flash manufacturing, services, composite PMI
1000 GMT – Eurozone October trade balance data
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.