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YEN FALLS AGAINST MAJORS

The Japanese yen weakened against other major currencies in the Asian session on Monday.

The yen fell to a 2-month low of 185.21 against the pound, from Friday's closing value of 184.86.

Against the euro and the Swiss fran, the yen slipped to 6-day lows of 160.68 and 166.76 from last week's closing quotes of 160.26 and 166.11, respectively.

The yen edged down to 149.68 against the U.S. dollar, from Friday's closing value of 149.37.

Against the Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 5-month low of 97.51, nearly a 4-week low of 89.70 and nearly a 3-week low of 109.66 from last week's closing quotes of 97.27, 89.58 and 109.35, respectively.

If the yen extends its downtrend, it is likely to find support around 186.00 against the pound, 162.00 against the euro, 169.00 against the franc, 152.00 against the greenback, 98.00 against the aussie, 91.00 against the kiwi and 111.00 against the loonie.

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CHINESE YUAN RISES TO NEAR 2-MONTH HIGH AGAINST U.S. DOLLAR

The Chinese yuan strengthened against the U.S. dollar in the Asian session on Wednesday.

Against the greenback, the yuan rose to nearly a 2-month high of 7.2658 from a recent low of 7.2783. At yesterday's close, the yuan was trading at 7.2733 against the greenback.

If the yuan extends its uptrend, it is likely to find resistance around the 7.24 area.

The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

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AUSTRALIAN DOLLAR FALLS AGAINST MAJORS

The Australian dollar weakened against other major currencies in the Asian session on Friday.

The Australian dollar fell to 9-day lows of 0.6352 against the U.S. dollar and 96.12 against the yen, from yesterday's closing quotes of 0.6366 and 96.34, respectively.

Against the euro and the Canadian dollar, the aussie slid to more than a 2-week low of 1.6791 and nearly a 2-week low of 0.8771 from Thursday's closing quotes of 1.6754 and 0.8789, respectively.

The aussie edged down to 1.0784 against the NZ dollar, from yesterday's closing value of 1.0801.

If the aussie extends its downtrend, it is likely to find support around 0.62 against the greenback, 94.00 against the yen, 1.69 against the euro, 0.85 against the loonie and 1.06 against the kiwi.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK LABOR MARKET DATA DUE

The labor market statistics from the UK and economic sentiment survey results from Germany are the top economic news due on Tuesday.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.3 percent in three months to September from 4.2 percent in the preceding period.

Consumer price data from Sweden is due at 2.00 am. Inflation is forecast to rise to 6.7 percent in October from 6.5 percent in September.

At 2.30 am ET, the Federal Statistical Office is set to issue Swiss producer prices for October. Economists forecast producer prices to rise 0.1 percent on month, in contrast to the 0.1 percent fall in September.

At 3.00 am ET, Spain's INE issues final consumer and harmonized prices for October. The flash estimate showed that consumer price inflation held steady at 3.5 percent.

At 5.00 am ET, Eurostat is slated to issue euro area flash GDP and employment for the third quarter. The preliminary flash estimate showed that GDP registered a quarterly contraction of 0.1 percent, in contrast to the 0.2 percent expansion in the second quarter.

In the meantime, Germany ZEW economic confidence survey data is due. The sentiment index is seen at 5.0 in November versus -1.1 in October.

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CANADIAN DOLLAR DROPS AGAINST MOST MAJORS

The Canadian dollar weakened against most major currencies in the Asian session on Thursday.

The Canadian dollar fell to a 2-day low of 1.3713 against the U.S. dollar, from yesterday's closing value of 1.3684.

Against the yen and the euro, the loonie dropped to 110.31 and 1.4861 from Wednesday's closing quotes of 110.50 and 1.4852, respectively.

If the loonie extends its downtrend, it is likely to find support 1.38 around against the greenback, 108.00 against the yen and 1.49 against the euro.

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The U.S. stock market is on hold: Dow Jones grows by 0.01%

There is a slight increase in the main indices on the American stock market: the Dow Jones increased by 0.01%, S&P by 0.13%, and Nasdaq by 0.08%. This occurred against the backdrop of investors digesting the latest news and comments from representatives of the U.S. Federal Reserve System. Michael Barr, Vice Chairman of the Federal Reserve, expressed the view that the Fed is approaching the peak of interest rate hikes, while other representatives emphasized the need for additional data on reducing inflation.

Meanwhile, Applied Materials (AMAT.O) shares lost 4% after a third-quarter report and news of a U.S. Department of Justice investigation into allegations of violating export restrictions to China. On the other hand, Gap's shares rose after publishing improved third-quarter results.

The market was further supported by a decrease in the yield of 10-year U.S. Treasury bonds, reaching a two-month low. The S&P 500, Nasdaq, and Dow indices marked the third consecutive week of growth, which became the longest weekly winning streak for S&P and Dow since July, and for Nasdaq since June.

Among the components of the Dow Jones index, the leaders of growth were shares of Walgreens Boots Alliance Inc, American Express Company, and Caterpillar Inc, which showed a significant increase in price.

Robert Fipps, director of Per Stirling in Austin, Texas, noted that a key factor in today's stock growth was the achievement of a two-month low in U.S. Treasury bond yields. He emphasized that despite the modest indicators of the main indices, there was noticeable activity in more cyclical sectors of the economy.

Fipps pointed to the weakness of technology stocks that day, however, he emphasized that the S&P 500 index hides stronger indicators in other sectors, including energy, industry, and finance.

The Dow Jones industrial index grew slightly, adding 1.81 points or 0.01%, and closing at 34,947.28. The S&P 500 increased by 5.78 points or 0.13%, reaching 4,514.02, while the Nasdaq Composite index grew by 11.81 points or 0.08%, closing at 14,125.48.

For the week, the S&P 500 index grew by 2.2%, Nasdaq increased by 2.4%, and Dow Jones rose by 1.9%.

Among the leaders of growth on the S&P 500 that day were shares of Ross Stores Inc, which rose by 7.22% to 128.82, Expedia Inc, which increased by 5.05% to 136.38, and shares of Albemarle Corp, which went up by 3.91%, closing at 127.39.

Jack McIntyre, a portfolio manager at Brandywine Global in Philadelphia, expressed the need to analyze recent market events and identify the next growth catalyst.

The energy sector, which grew by 2.1%, was the leader among the 11 key sectors of the S&P 500 index, thanks to an increase in oil prices by more than 4%. At the same time, the communication services index lost the most, especially due to a drop in Alphabet (GOOGL.O) shares by more than 1%. The technology sector was also among the weakest, with Microsoft (MSFT.O) shares losing 1.7% in value.

OpenAI, the producer of ChatGPT, supported by Microsoft, announced the departure of its CEO amidst statements from the board of directors about the insufficiency of his disclosures.

Shares of Amazon.com (AMZN.O) grew by 1.6%, after the company announced job cuts in the Alexa voice assistant division as part of a shift in business priorities and an increased focus on generative artificial intelligence.

The Russell 2000 index, which includes small-cap companies, rose by 1.4%, outperforming broader markets. This index, whose members benefit more from a reduction in credit rates than large companies, also showed the best results for the week, adding 5.4%.

Retail stocks were in demand: Ross Stores (ROST.O) shares increased by 7.2% after the company raised its annual profit forecast due to exceeding sales and profit expectations in the third quarter. Gap (GPS.N) shares also significantly rose by 30.6% thanks to the publication of better-than-expected quarterly results, driven by improved sales at Old Navy and reduced logistics expenses.

Shares of ChargePoint Holdings (CHPT.N) significantly fell by 35.5% after the company, specializing in electric vehicle charging networks, lowered its revenue forecast for the third quarter. In addition, ChargePoint announced the appointment of Rick Wilmer as CEO.

On American stock exchanges, a turnover of 10.05 billion shares was recorded, which is less than the average turnover of 11.04 billion shares over the last 20 sessions.

On the New York Stock Exchange, the number of rising issues exceeded the number of falling ones in a ratio of 2.65 to 1, while on Nasdaq this ratio was 2.16 to 1 in favor of rising companies. These data indicate the predominance of positive trends in the market, despite individual significant declines, such as that of ChargePoint Holdings.

The S&P 500 index recorded 18 new 52-week highs and one new low, while the Nasdaq Composite index registered 55 new highs and 97 new lows.

The CBOE Volatility Index, based on S&P 500 options, decreased by 3.63%, reaching a new monthly low of 13.80.

In the commodities market, gold futures for December delivery lost 0.22%, falling to $1,000 per troy ounce. Prices for WTI crude oil futures for December delivery rose by 3.91%, to $75.75 per barrel, and Brent crude oil futures for January delivery increased by 3.95%, reaching $80.48 per barrel.

In the foreign exchange market, the EUR/USD pair rose by 0.54% to 1.09, while the USD/JPY pair fell by 0.69%, to 149.68.

The U.S. Dollar Index futures decreased by 0.49%, reaching 103.73. These market movements reflect changes in economic outlooks and investors' reactions to current economic data and political events.

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DENMARK CONSUMER CONFIDENCE REMAINS NEGATIVE

Danish consumers expressed a pessimistic approach in November, despite their confidence having improved slightly from October, figures from Statistics Denmark showed on Wednesday.

The consumer confidence index rose to -10.3 in November from -11.2 in the previous month.

The slight improvement in November was mainly attributed to the strengthening of the assessment of the family's current financial situation, the expectation of the family's future financial situation, and the desire to buy, the survey said.

Consumers' views towards their own financial situation in the next twelve months remained positive in November, and they rose to 5.2 from 2.5.

However, opinion regarding the general economic situation of the country over the next year worsened to -5.8 in November from -4.6 a month ago.

Households expect prices to rise more slowly over the next twelve months, and they also expect a rising trend for unemployment, the survey said.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY GDP, BUSINESS CONFIDENCE DATA DUE

Quarterly national accounts and business sentiment survey results from Germany are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's detailed GDP data for the third quarter. The initial estimate showed that the largest euro area economy contracted 0.1 percent sequentially, offsetting the 0.1 percent rise a quarter ago.

In the meantime, Statistics Sweden is set to release producer prices for October. At 3.00 am ET, Spain's statistical office INE releases producer price data for October. Prices had declined 8.6 percent annually in September.

At 4.00 am ET, Germany's ifo business confidence survey results for November are due. The business climate index is expected to rise to 87.5 from 86.9 in the previous month.

At 5.00 am ET, European Central Bank President Christine Lagarde is set to speak at an event organized by the Deutsche Bundesbank in Frankfurt, Germany.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY CONSUMER CONFIDENCE DATA DUE

Consumer confidence survey results from Germany and France are due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the market research group Gfk is scheduled to issue Germany's consumer confidence survey results. The forward-looking consumer sentiment is expected to rise to -27.9 in December from -28.1 in November.

At 2.45 am ET, France's statistical office INSEE publishes consumer sentiment survey results. Economists forecast the consumer sentiment index to remain unchanged at 84 in November. At 4.00 am ET, the European Central Bank releases monetary aggregates for October. M3 is forecast to fall 0.9 percent annually after declining 1.2 percent in September.

In the meantime, manufacturing Purchasing Managers' survey results are due from Austria.

At 6.00 am ET, retail sales data for October is due from Ireland.

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PHILIPPINES MANUFACTURING SECTOR ACCELERATES IN NOVEMBER - S&P GLOBAL

The manufacturing sector in the Philippines continued to expand in November, and at a faster pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 52.7.

That's up from 52.4 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The uptick in the headline figure reflected gains across the top two PMI components: new orders and output. Indeed, November saw rates of growth quicken to eight- and ten month highs, respectively.

Firms noted that strong demand conditions both in domestic and foreign markets, new client wins and increased contract work boosted overall sales and in turn spurred greater production.

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AUSTRALIA CENTRAL BANK KEEPS RATE UNCHANGED

The Reserve Bank of Australia left its benchmark rate unchanged on Tuesday after a quarter point hike in November.

The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.35 percent.

The board also retained the interest rate paid on Exchange Settlement balances at 4.25 percent.

"Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labour market," the bank said.

At the November meeting, the bank lifted the rate by 25 basis points to a 12-year high, ending a four-session long pause.

The bank said the case for further tightening of monetary policy to bring inflation back to the target in a reasonable timeframe will depend upon the data and the evolving assessment of risks.

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Roller coaster on the Market: Dollar Steady, Euro Nears Minimum in Anticipation of ECB Rates

Meanwhile, the Bank of Canada on Wednesday left its key overnight rate at 5% and, unlike other banks, left the possibility of further increases open, expressing concern about inflation and acknowledging economic slowdown and overall price reduction.

The Canadian dollar slightly strengthened against the American dollar, reaching 1.36 Canadian dollars per American dollar.

In other currency markets, the Japanese yen strengthened by 0.16% to 147.07 yen per dollar. The offshore Chinese yuan fell slightly by 0.02%, reaching 7.1717 yuan per dollar. The Australian dollar rose by 0.03%, to 0.655 US dollars.

In the cryptocurrency sector, Bitcoin rose by 0.19%, reaching $43,910.11.

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DUTCH CONSUMER PRICES REBOUND AS ESTIMATED

The Netherlands' consumer prices increased as initially estimated in November, the latest data from the Central Bureau of Statistics showed Tuesday.

The consumer price index rose 1.6 percent year-over-year in November, reversing a 0.4 percent increase in October. That was in line with the flash data published on November 30.

Excluding energy, inflation eased to 4.2 percent in November from 5.1 percent in the previous month.

The increase in inflation was mainly due to energy price developments. Energy prices were 4.3 percent cheaper than last year, but in October, prices were 5.8 percent lower.

Meanwhile, the annual price growth in food products eased to 6.3 percent in November from 7.9 percent in the previous month.

However, consumer prices dropped 1.0 percent on a monthly basis in November.

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AUSTRALIA ADDS 61,500 JOBS IN NOVEMBER

Australia gained 61,500 jobs in November, the Australian Bureau of Statistics said on Friday - for a total of 14,257,00.

That blew away expectations for an increase of 11,000 jobs following the addition of 55,000 jobs in October.

Full-time employment increased by 57,000 to 9,905,900, while part-time employment increased by 4,500 to 4,351,600.

The jobless rate ticked up to a seasonally adjusted 3.9 percent versus expectations for 3.8 percent, which would have been unchanged from the previous month following an upward revision from 3.7 percent.

The participation rate improved to 67.2 percent, beating expectations for 66.9 percent and up from 67.0 percent in October.

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NZ DOLLAR RISES AGAINST MAJORS

The New Zealand dollar strengthened against other major currencies in the Asian session on Monday.

The NZ dollar rose to 4-day highs of 0.6243 against the U.S. dollar and 88.72 against the yen, from Friday's closing quotes of 0.6206 and 88.22, respectively.

Against the euro and the Australian dollar, the kiwi advanced to 4-day highs of 1.7483 and 1.0762 from last week's closing quotes of 1.7543 and 1.0783, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 90.00 against the yen, 1.73 against the euro and 1.06 against the aussie.

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CHINA KEEPS BENCHMARK LENDING RATES UNCHANGED

China's central bank maintained its benchmark lending rates on Wednesday after the rate on the medium-term lending facility was kept unchanged last week.

The People's Bank of China kept the one-year loan prime rate, or LPR, unchanged at 3.45 percent.

The bank had previously lowered the one-year rate by 10 basis points in August. New and outstanding loans are based on the one-year LPR.

At the same time, the five-year LPR, the benchmark for mortgage rates, was retained at 4.20 percent for the sixth consecutive time.

The Chinese central bank fixes the LPR every month based on the submission of 18 designated banks. The LPR replaced the traditional benchmark lending rate in August 2019.

The PBoC was widely expected to leave the rates unchanged today after the rate on medium-term lending facility, which acts as a guide to loan prime rates, was maintained at 2.50 percent last week. The bank had added CNY 1.45 trillion into the financial system via MLF.

Official data released early this month showed that new yuan loans increased notably to CNY 1.09 trillion in November from CNY 738.4 billion in the previous month.

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TAIWAN JOBLESS RATE FALLS IN NOVEMBER

The unemployment rate in Taiwan decreased somewhat in November, the Directorate General of Budget Accounting and Statistics reported Friday.

The seasonally adjusted unemployment rate came in at 3.37 percent in November, versus 3.41 percent a month ago. In the same period last year, the rate was 3.63 percent.

On an unadjusted basis, the jobless rate dropped to 3.34 percent in November from 3.43 percent in October. Unemployment decreased to 400,000 from 411,000.

Data showed that total employment increased by 19,000 from the previous month to 11.57 million. From the previous year, employment grew by 147,000 in November.

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U.S. DOLLAR FALLS AGAINST MAJORS

The U.S. dollar weakened against other major currencies in the Asian session on Tuesday.

The U.S. dollar fell to 4-day lows of 1.1029 against the euro and 142.09 against the yen, from yesterday's closing quotes of 1.1007 and 142.34, respectively.

Moving away from an early high of 0.8568 against the Swiss franc, the greenback slipped to a 4-day low of 0.8550.

The greenback edged down to 1.2714 against the pound, from yesterday's closing value of 1.2689.

Against the Australia and the New Zealand dollars, the greenback slid to a 4-day low of 0.6816 and more than a 5-1/2-month low of 0.6324 from Monday's closing quotes of 0.6796 and 0.6305, respectively.

Moving away from an early high of 1.3262 against the Canadian dollar, the greenback edged down to 1.3251.

If the greenback extends its downtrend, it is likely to find support around 1.11 against the euro, 140.00 against the yen, 0.84 against the franc, 1.28 against the sterling, 0.69 against the aussie, 0.64 against the kiwi and 1.31 against the loonie.

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U.S. DOLLAR FALLS AGAINST MAJORS

The U.S. dollar weakened against other major currencies in the Asian session on Thursday.

The U.S. dollar fell to an 8-year low of 0.8396 against the Swiss franc and a 2-week low of 141.18 against the yen, from yesterday's closing quotes of 0.8425 and 141.45, respectively.

The greenback slid to a 5-month low of 1.1123 against the euro and nearly a 5-month low of 1.2815 against the pound, from Wednesday's closing quotes of 1.1108 and 1.2800, respectively.

Against the Australia and the New Zealand dollars, the greenback dropped to 5-1/2-month lows of 0.6872 and 0.6370 from yesterday's closing quotes of 0.6853 and 0.6348, respectively.

The greenback edged down to 1.3193 against the Canadian dollar, from yesterday's closing value of 1.3206.

If the greenback extends its downtrend, it is likely to find support around 0.82 against the franc, 140.00 against the yen, 1.13 against the euro, 1.29 against the pound, 0.69 against the aussie, 0.65 against the kiwi and 1.30 against the loonie.

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CHINA MANUFACTURING SECTOR EXPANDS IN DECEMBER

China's manufacturing activity continued to expand at the end of the year, survey results from S&P Global showed on Tuesday.

The Caixin manufacturing Purchasing Managers' Index rose slightly to 50.8 in December from 50.7 in November.

The sector expanded for the fourth time in the last five months. A score above 50.0 indicates expansion.

There were stronger increases in output and new orders in December. However, staffing levels declined for the fourth month in a row.

Moreover, the degree of optimism softened from November.

"Looking to the new year, there is still room for adjustments in fiscal and monetary policies," Wang Zhe, a senior economist at Caixin Insight Group said. "Efforts in increasing employment should be strengthened to alleviate pressure on the job market, improve people's livelihoods, and ultimately foster long-term market confidence."

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NZ DOLLAR RISES AGAINST MAJORS

The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday.

The NZ dollar rose to 6-day highs of 89.81 against the yen and 1.0757 against the Australian dollar, from yesterday's closing quotes of 89.50 and 1.0768, respectively.

Against the euro, the kiwi advanced to a 2-day high of 1.7437 from yesterday's closing value of 1.7474.

The kiwi edged up to 0.6269 against the U.S. dollar, from Wednesday's closing value of 0.6247.

If the kiwi extends its uptrend, it is likely to find resistance around 91.00 against the yen, 1.06 against the aussie, 1.73 against the euro and 0.67 against the greenback.

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EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE ECONOMIC SENTIMENT, RETAIL SALES DATA DUE

Economic confidence and retail sales from the euro area are due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders and foreign trade figures. Orders are forecast to grow 1.0 percent on month in November, in contrast to the 3.7 percent decrease in October. Exports are expected to rise 0.3 percent month-on-month, following a 0.2 percent drop.

In the meantime, manufacturing output data is due from Norway.

At 2.30 am ET, Switzerland's Federal Statistical Office publishes consumer prices and retail sales reports. Inflation is expected to rise slightly to 1.5 percent in December from 1.4 percent in November.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The investor sentiment index is seen at -15.5 in January compared to -16.8 in December. At 5.00 am ET, economic sentiment survey results and retail sales data are due from the euro area. Economists forecast retail sales to fall 0.3 percent on a monthly basis in November, reversing a 0.1 percent rise in October.

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EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE INDUSTRIAL OUTPUT DATA DUE

Industrial production from France is the only major economic data due on Wednesday, headlining a light day for the European economic news.

At 1.00 am ET, Statistics Finland releases industrial production figures for November. Output had increased 1.2 percent annually in October. At 2.00 am ET, consumer price data is due from Norway and Denmark. Norway's consumer price inflation is forecast to remain unchanged at 4.8 percent in December. Also, Statistics Sweden publishes GDP, industrial output and orders and household spending data for November.

In the meantime, the Turkish Statistical Institute is scheduled to issue industrial output and unemployment data.

At 2.45 am ET, France's statistical office INSEE releases industrial production figures for November. Output is forecast to remain flat on month, reversing a 0.3 percent drop in October.

At 4.00 am ET, retail sales data is due from Italy.

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CHINA OVERALL INFLATION RISES 0.1% ON MONTH IN DECEMBER

Overall consumer prices in China were up 0.1 percent on month in December, the National Bureau of Statistics said on Friday.

That was shy of expectations for an increase of 0.2 percent following the 0.5 percent contraction in November.

On an annual basis, inflation fell 0.3 percent versus forecasts for a decline of 0.4 percent after slipping 0.5 percent in the previous month.

The bureau also said that producer prices sank 2.7 percent on year, missing forecasts for a decline of 2.6 percent after sinking 3.0 percent a month earlier.

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