- Official Chinese PMI rises to 55.2 from 54.7 in October
- Australian GDP grows less than expected at +0.2%
- UK November house prices -0.3% MoM
- BOJ member Suda has bleak view of Japanese economy
- Fed’s Lacker: There has been an overreaction in worries about inflation
- Regional stockmarkets mixed
- Gold adds $5 to $1390/oz
The AUD has again been the most volatile currency in Asia, falling firstly after the poor GDP number which in turn led to some macro-fund selling particularly on the crosses. An improving Chinese PMI helped the AUD to rally. Ranges: .9540/.9609
EUR/USD spent the majority of the session trading below 1.3000 but some late short-covering has driven it to session highs. There were no major developments so most moves were attributed to some small positional adjustments. Liquidity did improve compared with the last few days. Ranges: EUR/USD 1.2972/1.3029, EUR/CHF 1.3010/43
USD/JPY traded inside the range established during the latter half of the NY session, 83.40/70.
Cable was also quiet and EUR/GBP moved mainly with EUR sentiment. Ranges: Cable 1.5555/92, EUR/GBP .8334/55
