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The euro was set for a weekly loss against 10 of its 16 major counterparts as concerns Europe’s debt crisis will linger damped demand for the region’s assets.
The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, was at 79.977 from 80.032 yesterday, set for a 0.8 percent advance this week.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 72.5 this month from 71.6 in November, according to survey of economists before data.
Demand for the yen was supported amid speculation China will take further measures to cool its economy.
China’s consumer prices prices rose 4.7 percent in November from a year earlier, a statistics bureau report will show tomorrow, according to the median forecast in a Bloomberg News survey of economists. That would be the fastest pace since August 2008. The Economic Information Daily said today the figure may be 5.1 percent.
EUR/USD: the pair shown high in the field of $1,3280.
GBP/USD: the pair has become stronger above a mark $1,5800.
USD/JPY: the pair bargained within the limits of Y83,60-Y83,85.
UK data sees Producer Prices for November at 0930GMT. Input PPI is seen at 0.5% m/m and 8.3% higher on year. Output is seen at 0.3% m/m and 4.0% y/y.
The IEA monthly oil market report is then due, at 0900GMT.
US data starts at 1330GMT with Trade and the Import, Export Price Index. The international trade gap is expected to hold steady at $44.0b billion in October after narrowing in September. Import prices rose 0.9% in October on a 3.3% rise in petroleum prices and a 0.4% combined gain in the other import categories. Boeing reported 108 orders in October, down slightly from 117 in September. At 1455GMT, the Michigan Sentiment index is expected to rise slightly to a reading of 72.2 in early-December from 71.6 in November. Late US data at 1900GMT sees the Treasury Statement, where Treasury is expected to post a $130.0 billion budget gap in November. The Treasury posted a $120.3 billion gap in November 2009.
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