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MALAYSIA GDP DATA DUE ON FRIDAY



Malaysia will on Friday release Q3 figures for gross domestic product, highlighting a light day for Asia-Pacific economic activity.

GDP is expected to expand 3.3 percent on year, up from 2.9 percent in the three months prior.

Singapore will provide October numbers for non-oil domestic exports; in September, exports were up 11.1 percent on month and down 13.2 percent on year.

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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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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 nearly a 3-1/2-month low of 1.0966 against the euro, from yesterday's closing value of 1.0938.
Against the pound and the yen, the greenback dropped to near 2-1/2-month lows of 1.2541 and 147.24 from yesterday's closing quotes of 1.2504 and 148.36, respectively.

The greenback edged down to 0.8827 against the Swiss franc, from Monday's closing value of 0.8848.
Against the Australia and the New Zealand dollars, the greenback slid to near 3-1/2-month lows of 0.6587 and 0.6075 from yesterday's closing quotes of 0.6556 and 0.6036, respectively.

The greenback dropped to 1.3705 against the Canadian dollar, from Monday's closing value of 1.3724.

If the greenback extends its downtrend, it is likely to find support around 1.12 against the euro, 1.27 against the pound, 145.00 against the yen, 0.86 against the franc, 0.67 against the aussie, 0.61 against the kiwi and 1.34 against the loonie.

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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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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 a 1-week high of 90.28 against the yen and a 2-day high of 1.8005 against the euro, from yesterday's closing quotes of 89.99 and 1.8084, respectively.

Against the U.S. and the Australian dollars, the kiwi edged up to 0.6054 and 1.0829 from Wednesday's closing quotes of 0.6021 and 1.0866, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 92.00 against the yen, 1.78 against the euro, 0.57 against the greenback and 1.06 against the aussie.

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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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CHINA INDUSTRIAL PROFITS CONTINUE TO RISE



China industrial profits continued to increase in October albeit at a slower pace, the National Bureau of Statistics said Monday. Industrial profits grew 2.7 percent on a yearly basis in October. The pace of increase slowed notably from the 11.9 percent rise posted in September.

During January to October, industrial profits decreased 7.8 percent from the same period last year.

Nonetheless, this was slightly slower than the 9 percent decline seen in the first nine months of the year, data showed.

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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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NZ DOLLAR RISES AGAINST MAJORS



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

The NZ dollar rose to nearly a 4-month high of 0.6209 against the U.S. dollar, from yesterday's closing value of 0.6136.

The kiwi advanced to nearly a 2-week high of 91.22 against the yen, from a recent 6-day low of 90.23.

Against the euro and the Australian dollar, the kiwi climbed to 1-1/2-month highs of 1.7742 and 1.0729 from yesterday's closing quotes of 1.7908 and 1.0833, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 92.00 against the yen, 1.74 against the euro and 1.06 against the aussie.

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EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE INFLATION DATA DUE



Flash inflation from the euro area and unemployment from Germany are the top economic news due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales data for October. Sales are forecast to fall 1.9 percent annually after easing 4.3 percent a month ago.

At 2.45 am ET, France's statistical office INSEE publishes flash consumer prices, GDP, household consumption and producer prices. The statistical office is expected to confirm 0.1 percent sequential growth for the third quarter. Harmonized inflation is seen at 4.1 percent in November compared to 4.5 percent in October.

At 3.00 am ET, Switzerland's KOF leading index is due. Economists forecast the leading index to rise to 96.6 in November from 95.8 in October.

At 3.55 am ET, Germany's Federal Labour Agency is scheduled to release unemployment data for November. The number of unemployed is forecast to increase 22,000 after rising 30,000 in October.

At 4.00 am ET, Italy's ISTAT publishes unemployment data for October. The jobless rate is seen at 7.5 percent compared to 7.4 percent in September.

In the meantime, consumer prices and revised GDP figures are due from Poland.

At 5.00 am ET, Eurostat is set to issue euro area flash inflation and unemployment data. Inflation is expected to ease to 2.7 percent in November from 2.9 percent in October. The euro area jobless rate is seen unchanged at 6.5 percent in October.

Also, preliminary inflation figures are due from Italy.

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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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YEN RISES AGAINST MAJORS



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

The yen rose to a 1-month high of 159.11 against the euro and a 4-day high of 168.32 against the Swiss franc, from last week's closing quotes of 159.76 and 168.86, respectively.

The yen advanced to a 2-week high of 185.53 against the pound and nearly a 3-month high of 146.24 against the U.S. dollar, from Friday's closing quotes of 186.57 and 146.81, respectively.

Against the Australia, the New Zealand and the Canadian dollars, the yen rose to 4-day highs of 97.65, 90.89 and 108.39 from last week's closing quotes of 97.98, 91.14 and 108.76, respectively.

If the yen extends its uptrend, it is likely to find resistance around 157.00 against the euro, 164.00 against the franc, 180.00 against the pound, 143.00 against the greenback, 94.00 against the aussie, 87.00 against the kiwi and 105.00 against the loonie.

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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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