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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia Gross Domestic Product (YoY) Quarter III +3.1% +3.1% +2.7%
00:30 Australia Gross Domestic Product (QoQ) Quarter III +0.5% +0.7% +0.3%
01:00 China Non-Manufacturing PMI November 53.8 53.9
01:45 China HSBC Services PMI November 52.9 53.0
06:45 Switzerland Gross Domestic Product (YoY) Quarter III +1.6% Revised From +1.4% +1.4% +0.6%
06:45 Switzerland Gross Domestic Product (QoQ) Quarter III +0.3% Revised From 0.2% +0.3% +1.9%
08:48 France Services PMI (Finally) November 48.3 48.3 47.9
08:53 Germany Services PMI (Finally) November 52.1 52.1 52.1
08:58 Eurozone Services PMI (Finally) November 51.3 51.3 51.1
09:30 United Kingdom Purchasing Manager Index Services November 56.2 56.6 58.6
10:00 Eurozone Retail Sales (YoY) October +0.5% Revised From +0.6% +0.9% +1.4%
10:00 Eurozone Retail Sales (MoM) October -1.2% Revised From -1.3% +0.6% +0.4%
12:30 United Kingdom Autumn Forecast Statement
The U.S. dollar traded mixed against the most major currencies ahead of the economic data from the U.S. The U.S. economy is expected to add 223,000 jobs in November, according to the ADP employment report.
The ISM non-manufacturing purchasing managers' index is expected to decline to 57.1 in November from 57.5 in October.
The euro fell against the U.S. dollar the mostly weaker-than-expected economic data from the Eurozone. Eurozone' final services purchasing managers' index (PMI) fell to 51.1 in November from a preliminary reading of 51.3. Analysts had expected the final index to remain at 51.3.
Germany's final services PMI remained unchanged at 51.1 in November, in line with expectations.
France's final services PMI fell to 47.9 in November from a preliminary reading of 48.3. Analysts had expected the final index to remain at 48.3.
Retail sales in the Eurozone rose 0.4% in October, missing expectations for a 0.6% increase, after a 1.2% drop in September. September's figure was revised up from a 1.3% decline.
On a yearly basis, retail sales in the Eurozone surged 1.4% in October, exceeding expectations for a 0.9% gain, after a 0.5% increase in September. September's figure was revised down from a 0.6% rise.
The British pound traded higher against the U.S. dollar after the better-than-expected services purchasing managers' index (PMI) from the U.K. The U.K. services PMI increased to 58.6 in November from 56.2 in October, exceeding expectations for a rise to 56.6.
The UK's Autumn Statement was released on Wednesday. The UK's gross domestic product forecast was raised to 3% in 2014 from 2.7% in March.
The Canadian dollar traded mixed against the U.S. dollar ahead of the Bank of Canada's interest rate decision. Analysts expect that the Bank of Canada will keep unchanged its interest rate at 1.00%.
The Swiss franc traded lower against the U.S. dollar after the Swiss gross domestic product (GDP). Switzerland's GDP rose 0.6% in the third quarter, beating expectations for a 0.3% increase, after a 0.3% gain in the second quarter. The second quarter's figure was revised up from a 0.2% gain.
On a yearly basis, Switzerland's economy grew at 1.9% in the third quarter, missing expectations for a 1.4% rise, after a 1.6% increase in the second quarter. The second quarter's figure was revised up from a 1.4% rise.
EUR/USD: the currency pair fell to $1.2320
GBP/USD: the currency pair increased to $1.5676
USD/JPY: the currency pair rose to Y119.48
The most important news that are expected (GMT0):
13:15 U.S. ADP Employment Report November 230 223
13:30 U.S. Nonfarm Productivity, q/q (Finally) Quarter III +2.0% +2.2%
15:00 Canada Bank of Canada Rate 1.00% 1.00%
15:00 Canada BOC Rate Statement
15:00 U.S. ISM Non-Manufacturing November 57.5 57.1
17:30 U.S. FOMC Member Charles Plosser Speaks
19:00 U.S. Fed's Beige Book
19:00 U.S. FOMC Member Brainard Speaks
22:30 Canada BOC Gov Stephen Poloz Speaks
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