- Yen, Dollar subdued in morning trading.
- AUD, NZD strong on economic data.
- PMIs expected across continents.
- Fed speakers are also in radar.
Pro-risk currencies were rising alongside stocks during the Asia-Pacific trading in the opening day of the new week; while safe-haven yen and the US dollar were sliding.
Australian and New Zealand dollars were also helped by the better than expected economic numbers. New Zealand retail sales surged by 28 Percent in the third quarter, and Markit PMI Australian manufacturing-and-service data showed the fastest growth acceleration in three months.
The head of the US government’s vaccine drive said over the weekend that the vaccination might begin in less than three weeks, giving hopes of successful mitigation of the current COVID-19 alarm in the country.
November’s Markit PMI surveys for the Eurozone, the UK and the US are due today, with expectations of subdued recovery. Europe might see more impact than the rest of the countries.
The market participants also eye the US Fed officials’ speeches ahead – a hint towards limited scope for stimulus expansion from the Fed might spook investors. Later in the week, FOMC meeting minutes are due, which will also dictate the market mood as traders expect a stimulus expansion.