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China Inflation Data Due On Tuesday

China will on Tuesday release November numbers for consumer and producer prices, highlighting a busy day for Asia-Pacific economic activity. Consumer prices are tipped to have risen 4.4 percent, accelerating from 3.8 percent in October. Producer prices are called lower by an annual 1.5 percent after sliding 1.6 percent a month earlier. Australia will see November results for the surveys of business confidence and conditions from NAB, as well as Q3 figures for house prices. In October, business confidence was at +2, while conditions were at +3. House prices are tipped to have risen 1.5 percent on quarter and lost 4.6 percent on year after sliding 0.7 percent on quarter and 7.4 percent on year in the three months prior. Japan will provide November data for money stock; M2 is expected to be unchanged at 2.5 percent and M3 is called steady at 2.1 percent. The Philippines will release October trade data. In September, imports were worth $9.02 billion and exports were at $5.90 billion for a trade deficit of $3.12 billion. Finally, the markets in Thailand are closed on Tuesday in observance of Constitution Day and will reopen on Wednesday. The material has been provided by InstaForex Company…

Treasuries Regain Ground But Close Well Off Early Highs

After trending lower over the past few sessions, treasuries moved back to the upside during the trading day on Monday. Bond prices gave back ground after an early advance but remained in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.3 basis points to 1.829 percent. The early strength among treasuries was partly due to bargain hunting, with disappointing Chinese export data increasing the appeal of safe havens such as bonds. Treasuries also benefited from worries about rising tensions between the U.S. and North Korea after North Korea conducted a “very important test” at a long-range missile launch site. President Donald Trump warned North Korean leader Kim Jong Un risks losing “everything” if he acts in a hostile way, leading a North Korean official to describe the president as a “heedless and erratic old man.” Trading activity remained somewhat subdued, however, with traders looking ahead to the Federal Reserve’s monetary policy announcement on Wednesday. The Fed is widely expected to leave interest rates unchanged, although traders are still likely to pay close attention to the accompanying statement for clues about the outlook for rates. A lack of major…

Oil Settles Lower On Weak Data, Trade Deal Uncertainty

Crude oil prices edged lower on Monday amid concerns over the outlook for energy demand after data showed another drop in Chinese exports and on uncertainty about the U.S. and China signing a phase one deal before the commencement of the next round of tariff hikes. Traders also appeared keen on cutting down positions ahead of the Federal Reserve’s monetary policy statement, due on Wednesday. Traders are also looking ahead to the first policy meeting of new ECB President Christine Lagarde. West Texas Intermediate Crude oil futures for January ended down $0.18, or about 0.3%, at $59.02 a barrel. Brent crude futures settled lower by $0.14, or about 0.2%, at $64.25 a barrel. On Friday, WTI Crude oil futures for January ended up $0.77, or 1.3%, at $59.20 a barrel. WTI Crude oil futures gained about 7% last week, lifted by news the OPEC and allies have decided to deepen production cuts. Last week, the OPEC and a 10-nation coalition led by Russia, called OPEC+, agreed to deepen oil production cuts in order to prevent oversupply in the market. The new deal agreed upon during the Vienna meet will apply for the first three months of 2020. The…

Gold Futures Settle Flat

Gold prices settled flat on Monday as traders looked for direction ahead of the U.S. Federal Reserve’s monetary policy statement due later this week. Disappointing Chinese exports data and uncertainty about a phase one deal between the U.S. and China rendered the mood cautious in the equity markets and limited the yellow metal’s decline. The dollar index recovered to 97.72 from an early low of 97.56, and was last seen hovering around 97.65, down marginally from previous close. Gold futures for February ended down $0.20, or about 0.01%, at $1,464.90 an ounce. On Friday, gold futures for February ended down $18.00, or 1.2%, at $1,465.10 an ounce, as riskier assets gained on upbeat U.S. jobs data and optimism about U.S.-China trade deal. Silver futures for March ended up $0.046 at $16.642 an ounce, while Copper futrues for March settled at $2.7585 per pound, gaining $0.0335 for the session. Traders were worried about an escalation in the U.S.-China trade war after top White House economic adviser Larry Kudlow said that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods. Weak exports data from China underscored persistent pressures on…

Loonie Little Changed After Canada Building Permits

Canada building permits for October have been released at 8:30 am ET Monday. The loonie changed little against its major rivals after the data. The loonie was trading at 1.3258 against the greenback, 81.85 against the yen, 0.9043 against the aussie and 1.4675 against the euro around 8:32 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Loonie Little Changed Following Canada Housing Starts

After the release of Canada housing starts data for November at 8:15 am ET Monday, the loonie changed little against its major rivals. The loonie was trading at 1.3251 against the greenback, 81.86 against the yen, 0.9043 against the aussie and 1.4677 against the euro around 8:19 am ET. Canada building permits for October will be featured at 8:30 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Loonie Mixed Ahead Of Canada Housing Starts

At 8:15 am ET Monday, Canada housing starts data for November is scheduled for release. Ahead of the data, the loonie traded mixed against its major rivals. While the loonie rose against the aussie, it held steady against other major currencies. The loonie was worth 1.3253 against the greenback, 81.86 against the yen, 0.9044 against the aussie and 1.4678 against the euro as of 8:10 am ET. The material has been provided by InstaForex Company – www.instaforex.com…

Australian Dollar Slides On Weak China Data

The Australian dollar weakened against its major trading partners during European trading on Monday amid risk aversion, as weak exports data from China underscored persistent pressures on manufacturers from the prolonged Sino-U.S. trade war. China’s exports shrank for the fourth consecutive month in November, in a sign that the trade war with the United States was having an impact on the world’s second-largest economy. Investors awaited key events this week, including the Federal Reserve’s latest interest rate decision, new ECB boss Christine Lagarde’s first policy meeting and the U.K. general election. In an interview with France 3 television, French Finance Minister Le Maire said that France was ready to challenge U.S. President Trump’s tariffs threat at the World Trade Organization (WTO). “We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory.” The currency held steady against its major counterparts in the previous session. The aussie dropped to a 4-day low of 0.6822 against the greenback, from a high of 0.6839 hit at 6:45 pm ET. The aussie is likely to locate support…

Latvia Inflation Slows For Third Month

Latvia’s consumer price inflation eased for the third month in a row in November, figures from the Central Statistical Bureau showed on Monday. The consumer price index climbed 2.1 percent year-on-year in November, following a 2.3 percent rise in October. In September, inflation was 2.6 percent. Prices for housing rose 3.6 percent annually in November and those of recreation, culture, and restaurants, hotels increased by 3.5 percent and 3.1 percent, respectively. On a monthly basis, consumer prices fell 0.3 percent in November. The material has been provided by InstaForex Company – www.instaforex.com…