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00:30 Australia Gross Domestic Product (QoQ) Quarter III +0.6% +0.7% +0.6%
00:30 Australia Gross Domestic Product (YoY) Quarter III +2.6% +2.5% +2.3%
01:45 China HSBC Services PMI November 52.6 52.5
The euro was 0.2 percent from its strongest level in a month before European Central Bank officials gather for a policy meeting tomorrow, when they are forecast to refrain from cutting the benchmark interest rate. ECB officials will probably keep the benchmark at a record-low 0.25 percent when they meet tomorrow, according to the median estimate in a Bloomberg survey of economists. President Mario Draghi and his board unexpectedly cut the rate by a quarter-percentage point last month after inflation slowed in October to the least in four years.
Australia’s dollar slid to a three-month low after data today showed the nation’s economy grew less than analysts forecast in the third quarter. Australian economic growth slowed to a 2.3 percent annual pace in the three months through September, the statistics bureau said today, compared with the forecast for 2.6 percent in a Bloomberg News survey of analysts.
The yen remained higher versus the dollar as Asian stocks slumped and technical indicators signaled the currency’s recent declines may have been overdone.
The pound was near the highest since 2011 after a report showed U.K. construction expanded at the fastest pace in more than six years. The Bank of England sets policy tomorrow. Analysts polled by Bloomberg predict the U.K. central bank will hold its key rate at 0.5 percent tomorrow.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3580-95
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6375-95
USD / JPY: during the Asian session, the pair traded in the range of Y102.25-70
Focus today will turn to the release of services PMI data at 0928GMT. Market will be waiting to see if the release will complete a strong set of PMI data after mfg and construction PMI's came in above forecasts.
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