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A lack of reports inspired tight ranges for most currencies, although the dollar strengthened a bit while the yen weakened despite a strong PMI report.

  • Japan’s flash manufacturing PMI rises from 52.8 to 53.8 in November

Major Events/Reports:

Japan’s flash manufacturing PMI

Data from the world’s third largest economy saw a leading manufacturing indicator improve in November.

Japan’s flash manufacturing PMI registered at 53.8, which is a full point higher than October’s 52.8 reading.

New orders shot up sharply, thanks to yen weakness boosting new export orders. Overall, November’s numbers signal “the strongest improvement in the manufacturing sector for 44 months.”

Mixed equities and commodities trading

Tight ranges and a lack of fresh catalysts sent the major equities and commodity prices all over the charts today.

  • Nikkei is flat at 22,523.00;
  • Australia’s A SX 200 is down by 0.15% to 5,977.10;
  • Hang Seng is up by 0.41% to 29,839.00, and
  • Korea’s KOSPI is up by 0.15% to 2,540.99.

Meanwhile, oil prices saw mixed price action after taking advantage of positive sentiment in the previous session.

  • Brent crude oil is down by 0.31% to $63.35 while
  • U.S. crude oil prices is up by 0.72% to $58.44.

Major Market Mover(s):

JPY

Whether it’s post-holiday risk-taking or reaction to the BOJ buying less long-term bonds today, the low-yielding yen took hits against its major counterparts.

USD/JPY is up by 23 pips (+0.21%) to 111.45;
EUR/JPY is up by 24 pips (+0.18%) to 132.04;
GBP/JPY is up by 21 pips (+0.14%) to 148.16, and
CHF/JPY is up by 26 pips (+0.23%) to 113.49.

NZD

Kiwi took a step back across the board after New Zealand’s trade balance numbers missed market players’ expectations.

NZD/USD is down by 17 pips (-0.25%) to .6876;
EUR/NZD is up by 36 pips (+0.21%) to 1.7230, and
AUD/NZD is up by 14 pips (+0.13%) to 1.1080.

Watch Out For:

  • 9:00 am GMT: Germany’s IfO business climate (116.6 expected, 116.7 previous)
  • 9:30 am GMT: U.K.’s gross mortgage approvals (40.9K expected, 41.6K previous)