Market news
12.12.2011, 09:00

Asian session: the dollar gained

00:30 Australia Home Loans October +2.2% +0.2% +0.7%

00:30 Australia Trade Balance October 2.56 2.12 1.60

05:00 Japan Consumer Confidence November 38.6 38.5 38.1

06:00 Japan Prelim Machine Tool Orders, y/y November +26.0% +15.9%

 

The dollar gained against most of its major counterparts before a German report tomorrow that may show investor confidence in Europe’s largest economy slid to a three-year low, boosting demand for safer assets. The ZEW Center for European Economic Research may say its index of German investor and analyst expectations, which aims to predict developments six months in advance, declined to minus 55.8 in December, according to the median estimate in a Bloomberg News survey of economists.

The euro slid versus the yen as Italy and France prepare to sell bills amid concern the region’s debt crisis is spreading to bigger nations.


EUR/USD: on Asian session the pair fell.

GBP/USD: on Asian session the pair dropped.

USD/JPY: on Asian session  the pair holds in range Y77.60-Y77.70.


European data for Monday starts at 0700GMT with German wholesale prices for November. This is followed at 0745/0245 by France
balance of payments data, while one of the European data highlights of the week comes at 1100GMT with the OECD leading indicator. US data starts at 1430GMT with the weekly Capital Goods Index, which is followed at1530GMT by the weekly Retail Trade Index. Later on, at
1900GMT, the US Treasury Statement is due, where the U.S. Treasury is expected to post a $139.0 billion budget gap in November, a smaller gap than in November 2010. The October deficit was also smaller than a year earlier.

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