Final GDP +3.9% vs +3.7% y/y second estimateNo change to the headline reading, with a slight revision higher to the annual estimate. The report here doesn’t signify much as the focus is on the outlook considering the latest set of economic challenges.

Prior 12.5
Outlook 29.9 vs 25.3 expected
Prior 31.7

The headline reading turns negative for the first time since June as German economic sentiment deteriorates. Supply bottlenecks, surging inflation pressures, and added virus concerns make for a potent combo in hurting the outlook

The grind higher comes amid a more positive risk backdrop as omicron fears are cast aside temporarily. That is also allowing for higher Treasury yields, further buoying yen pairs in general.
Scant data continues to reveal that omicron may be more transmissible than delta but is perhaps less severe.

Aggregate rate of inflation likely to rise further in the next few monthsChances are that it will comfortably exceed 5% in AprilGood reason to think that goods inflation will likely fade before a policy decision could do muchTightening of labour market is likely to be a more persistent source of inf

There aren’t any significant expiries to take note of for the day, leaving the risk mood as the key driver of trading sentiment. Looking ahead to the rest of the week, there isn’t any one expiry level that stands out but we’ll see how things develop in the days ahead.For more information on

It is shaping up to be a risk-on run to start the new week, as risk sentiment in general is faring better.
Equities are higher and Treasury yields are surging as well, helping with the mood. This in turn is keeping the likes of the aussie and loonie in particular buoyed as we get things going on the

The cryptocurrency market experienced a shock shakeout on Saturday morning. Low trading activity and the relatively narrow previous trading range created a situation where stop orders were placed close to the market price. Outside forces, such as the stock market pressure on Friday, triggered a s

Prior 18.3

Euro area investor morale fell in December to its lowest since April as virus fears are being reignited across the region. The surge in the number of cases adding to the omicron variant isn’t comforting as investors fear renewed restrictions amid a fourth virus wave. Sentix notes t

Forex news for North American trading on December 3, 2020
It will be an early close for Forexlive this weekend as our technology staff takes over with some changes.  

German Dax -0.9%. France’s CAC -0.5%
For the week: