America’s Roundup: Dollar soft, euro, sterling hit new highs,Wall Street ends mixed, Gold climbs, Oil retreats 
Market Roundup
•New Zealand GDP (QoQ) (Q3) 1.1%, 0.9% forecast, -1.0% previous
•New Zealand GDP (YoY) (Q3) 1.3%, 1.3% forecast, -1.1% previous
•New Zealand GDP Annual Average (Q3) -0.5%, -1.2% previous
•New Zealand GDP Expenditure (QoQ) (Q3) 1.3%, -0.8% previous
•Japan Foreign Bonds Buying 356.4B, 456.3B previous
•Japan Foreign Investments in Japanese Stocks 528.3B, 132.8B previous
•Australia MI Inflation Expectations 4.7%, 4.5% previous
•Australia Reserve Assets Total (Nov) 113.1B, 110.6B previous
Looking Ahead Economic Data (GMT)
•07:00 Swiss Trade Balance (Nov) 5.320B forecast, 4.319B previous
•10:00 Belgium Consumer Confidence (Dec) 2 previous
•12:00 UK BoE Interest Rate Decision (Dec) 3.75% forecast,4.00% previous
•12:00 UK BoE MPC vote unchanged (Dec) 4 forecast,5 previous
•12:00 UK BoE MPC vote hike (Dec) 0 forecast,0 previous
•12:00 UK BoE MPC vote cut (Dec) 5 forecast,4 previous
Looking Ahead Events And Other Releases (GMT)
•No events Ahead
Currency Forecast
EUR/USD : The euro traded in tight range against the dollar on Thursday as traders adopted a cautious stance ahead of the European Central Bank’s interest rate decision. The ECB is widely expected to maintain policy rates unchanged and signal limited appetite for cuts in the near term, with the eurozone economy holding steady despite global trade disruptions and inflation remaining stable.Recent growth data for the 20-country bloc have surpassed ECB expectations, supported by exporters navigating U.S. tariffs more effectively than anticipated and robust domestic spending in Germany, which has offset softness in the manufacturing sector. Inflation has remained near the ECB’s 2% target, bolstered by price increases in the services sector, and is expected to remain in this range for the foreseeable future.Comments from ECB board member Isabel Schnabel, chief economist Philip Lane, and President Christine Lagarde have also sparked speculation about a potential rate hike later next year, keeping markets alert for forward guidance. Immediate resistance can be seen at 1.1766(Daily high), an upside break can trigger rise towards 1.1795(23.6%fib).On the downside, immediate support is seen at 1.1736(38.2%fib), a break below could take the pair towards 1.1649(50%fib).
GBP/USD: Sterling dipped against dollar on Thursday as markets positioned for central bank decisions in Britain, Europe and Japan.Interest rate futures have priced in a near 100% chance of a quarter-point rate cut from the BoE on Thursday following the surprisingly weak November inflation data in the UK. The European Central Bank is widely expected to hold rates steady and signal little appetite for cuts in the near term when it meets on Thursday.Fed Governor Christopher Waller said on Wednesday the U.S. central bank still has room to cut interest rates amid rising job market weakness. That was in contrast to commentary by Atlanta Federal Reserve President Raphael Bostic, who said on Tuesday that he did not think that the Fed's decision to cut rates last week was warranted.. Immediate resistance can be seen at 1.3450(23.6%fib), an upside break can trigger rise towards 1.3480(Higher BB).On the downside, immediate support is seen at 1.3369(38.2%fib), a break below could take the pair towards 1.3304(50%fib).
AUD/USD: The Australian dollar slipped lower on Thursday as greenback firmed ahead of key U.S. inflation data later in the week.Data earlier this week showed the U.S. unemployment rate rose to 4.6% in November, above a Reuters poll forecast of 4.4% and the highest since September 2021.The Fed last week delivered its third and final quarter-point rate cut of the year, with markets now pricing in two additional 25-basis-point cuts in 2026.Investors are now awaiting November's U.S. Consumer Price Index, due later on Thursday, followed by the Personal Consumption Expenditures price index on Friday. Fed Governor Christopher Waller said the central bank can still cut rates amid a cooling labor market and would "absolutely" defend its independence if challenged, as he awaits an interview with U.S. President Donald Trump for Powell's succession. Immediate resistance can be seen at 0.6633(38.2%fib), an upside break can trigger rise towards 0.6682(23.6%fib).On the downside, immediate support is seen at 0.6591(50%fib), a break below could take the pair towards 0.6576(SMA 20)
USD/JPY: The U.S. dollar edged higher on Thursday as traders covered shorts and adjusted positions before the BoJ meeting.The spotlight will be on Friday’s BoJ policy decision and Governor Kazuo Ueda’s remarks after the meeting.The BoJ is widely expected to lift its short-term interest rate to 0.75% from 0.5% at the end of its two-day policy meeting on Friday, as elevated food prices keep inflation above the 2% target.Markets have fully factored in the current rate move, attention among Bank of Japan observers is expected to center on signals regarding the pace of future hikes and the cycle’s peak.Meanwhile, Prime Minister Sanae Takaichi said on Wednesday that Japan must adopt aggressive fiscal spending to support growth and strengthen tax income as the economy remains fragile. Immediate resistance can be seen at 155.82(SMA 20) an upside break can trigger rise towards 157.02(Higher BB) .On the downside, immediate support is seen at 155.44 (Daily low) a break below could take the pair towards 154.54 (38.2%fib).
Equities Recap
Asian shares dropped on Thursday as investors prepared for a series of central bank meetings that are expected to highlight global policy divergence..
China’s A50 dipped 0.54%,Japan’s Nikkei 225 was down 0.90%,Hang Seng was down 0.18%
Commodities Recap
Gold prices were steady on Thursday, supported by dovish Federal Reserve signals but restrained by a resilient dollar ahead of key U.S. inflation data this week, while silver hovered near record highs.
Spot gold was down 0.2% at $4,332.29 an ounce, as of 0256 GMT, after rising more than 1% late on Wednesday. U.S. gold futures also eased 0.2% to $4,364.70.
Oil prices climbed on Thursday after reports emerged that the U.S. may impose new sanctions on Russian oil if Moscow fails to reach a Ukraine peace deal, while investors weighed the potential supply risks from a blockade of Venezuelan oil tankers.
U.S. West Texas Intermediate (WTI) crude was up 44 cents, or 0.79%, at $56.38 per barrel at 0256 GMT, paring some gains after initially rising more than a dollar after the market opened. Brent crude rose 42 cents or 0.7% to $60.10 per barrel.
