America’s Roundup: Dollar soft, euro, sterling hit new highs,Wall Street ends mixed, Gold climbs, Oil retreats 
Market Roundup
• New Zealand Current Account (QoQ) (Q3) -8.36B, -7.62B forecast, -1.30B previous
• New Zealand Current Account (YoY) (Q3) -15.37B, -15.37B previous
• New Zealand Current Account % of GDP (Q3) -3.50%, -3.50% previous
• Australia MI Leading Index (MoM) (Nov) 0.0%, 0.1% previous
• Japan Trade Balance (Nov) 322.2B, 71.2B forecast, -226.1B previous
•Japan Exports (YoY) (Nov) 6.1%, 4.8% forecast, 3.6% previous
•Japan Adjusted Trade Balance 0.06T, -0.20T forecast, 0.07T previous
•Japan Core Machinery Orders (YoY) (Oct) 12.5%, 3.6% forecast, 11.6% previous
•Japan Core Machinery Orders (MoM) (Oct) 7.0%, -1.8% forecast, 4.2% previous
•Japan Imports (YoY) (Nov) 1.3%, 2.5% forecast, 0.7% previous
Looking Ahead Economic Data (GMT)
•07:00 UK CPI (YoY) (Nov) 3.5% forecast, 3.6% previous
•07:00 UK PPI Input (MoM) (Nov) 0.2% forecast, -0.3% previous
•07:00 UK CPI (MoM) (Nov) 0.0% forecast, 0.4% previous
•07:00 UK Core PPI Output (MoM) (Nov) 0.1% previous
•07:00 UK Core PPI Output (YoY) (Nov) 3.5% previous
•07:00 UK PPI Input (YoY) (Nov) 0.4% forecast, 0.5% previous
•07:00 UK RPI (MoM) (Nov) 0.3% previous
•07:00 UK PPI Output (YoY) (Nov) 3.6% previous
•07:00 UK RPI (YoY) (Nov) 4.2% forecast, 4.3% previous
•07:00 UK Core RPI (MoM) (Nov) 0.3% previous
•07:00 UK CPI, n.s.a (Nov) 139.80 previous
Currency Forecast
EUR/USD : The euro sipped lower against the dollar on Wednesday after mixed U.S. jobs data failed to influence expectations for interest rates, leaving investors looking for new guidance. U.S. job growth rebounded more than anticipated in November following October’s largest decline in nearly five years, while the unemployment rate rose to 4.6%, its highest level in over four years. Analysts cautioned that the data contained significant volatility, partly due to the government’s record 43-day shutdown.Looking ahead, investors are focused on Thursday’s release of the U.S. November inflation report. Beyond the U.S., attention is also on upcoming policy decisions from the Bank of England (BoE), the European Central Bank (ECB), and the Bank of Japan (BoJ) this week. Immediate resistance can be seen at 1.1737(38.2%fib), an upside break can trigger rise towards 1.1811(23.6%fib).On the downside, immediate support is seen at 1.1687(50%fib), a break below could take the pair towards 1.1637(61.8%fib).
GBP/USD: Sterling dipped against dollar on Wednesday as investors awaited British inflation data due later in the day, where a major surprise could make the BoE's knife-edge vote even more uncertain.Data on Tuesday showed Britain's unemployment rate hit its highest level since the start of 2021 and private-sector pay growth was the weakest in nearly five years in the three months to October. The Bank of England is expected to cut interest rates on Thursday for the first time since August, though the decision is likely to be close as some policymakers remain concerned about persistent inflation pressures. 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 Wednesday as the latest government budget update had little impact on the central bank’s policy outlook. The government sharply revised up its inflation forecast while continuing to expand annual spending, leaving the Reserve Bank of Australia (RBA) to manage cost pressures. Investors are betting the RBA will need to raise its 3.6% cash rate by June to rein in inflation. Australia’s November consumer price report is due on January 7, with full December and fourth-quarter data scheduled for January 28. A quarterly rise of 0.8% or more in trimmed mean inflation could prompt action at the RBA’s February 3 meeting. Immediate resistance can be seen at 0.6662(Dec 16th high), an upside break can trigger rise towards 0.6699(23.6%fib).On the downside, immediate support is seen at 0.6613(38.2%fib), a break below could take the pair towards 0.6576(SMA 20)
USD/JPY: The U.S. dollar edged higher on Wednesday as investors remained cautious ahead of this week’s Bank of Japan (BoJ) meeting. The BoJ is expected to raise its short-term policy rate to 0.75% from 0.5% at the December 18-19 meeting, as concerns over President Donald Trump’s tariffs weighing on Japan’s export-reliant economy ease.Rising expectations of a BoJ rate hike are likely to support the yen. Japan’s exports to the U.S. rebounded in November for the first time in eight months, rising 6.1% year-on-year, surpassing the 4.8% forecast and following October’s 3.6% gain. Imports rose 1.3% year-on-year, below the expected 2.5% increase. Immediate resistance can be seen at 157.32(Higher BB) an upside break can trigger rise towards 155.88(38.2%fib) .On the downside, immediate support is seen at 154.50 (Daily low) a break below could take the pair towards 154.24 (38.2%fib).
Equities Recap
Mainland China and Hong Kong stocks rose on Wednesday, aiming to snap a two-day losing streak, as investors evaluated delayed U.S. economic data for insights into the Federal Reserve’s policy direction next year.
China’s A50 was up 0.90%,Japan’s Nikkei 225 was up 0.33%,Hang Seng was up 0.60%
Commodities Recap
Oil prices climbed over 1% on Wednesday after U.S. President Donald Trump announced “a total and complete” blockade on all sanctioned oil tankers entering or leaving Venezuela, fueling geopolitical tensions amid ongoing demand concerns.
Brent crude futures were up 79 cents, or 1.3%, at $59.71 a barrel at 0500 GMT, while U.S. West Texas Intermediate crude rose 77 cents, or 1.4%, to $56.04 a barrel.
Gold climbed on Tuesday after a U.S. jobs report showed the unemployment rate rose in November, boosting expectations for Federal Reserve rate cuts and weighing on the dollar index.
Spot gold gained 0.2% to $4,310.21 per ounce, as of 01:48 p.m. ET (18:48 GMT). U.S. gold futures settled 0.1% lower at $4,332.3.
