MNI: UK FINAL NOV SRVCS PMI 50.8 (FLASH 50.0); OCT 52.0

MNI: EUROZONE FINAL NOV SRVCS PMI 49.5 (FLASH 49.2); OCT 51.6

MNI: GERMANY FINAL NOV SRVCS PMI 49.3 (FLASH 49.4); OCT 51.6

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MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI: FRANCE FINAL NOV SRVCS PMI 46.9 (FLASH 45.7); OCT 49.2

MNI: ITALY NOV SRVCS PMI 49.2 (FCAST 50.8); OCT 52.4

MNI: SPAIN NOV SRVCS PMI 53.1 (FCAST 53.3); OCT 54.9

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EURJPY highest since 2008

EUR
  • Although the USD is showing in the green, overall, it is mostly in the red in the past 5 days duration, but the Swiss franc is still down 0.56% for that period.
  • The main focus in FX is back on the Yen, with the big divergence in rate stance between Europe and Japan, with rate decision tomorrow for Japan, expected to be unchanged versus an expected hike from the ECB today.
  • The EURJPY trades at its highest level since 2008, helped by the BoJ's Dovish stance and the lack of intervention comment, has the Yen also down 0.85% against the USD, albeit off its worst level going into the European session.
  • Next resistance in EURJPY will be at 153.00, and in USDJPY at 141.61 High Nov 23 2022.
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