UK RICS House Price Survey Nov: 30 (est 26, prev 23)
PBoC sets CNY midpoint at 6.8731 (prev 6.8808)
Asia stocks extend gains, hit one-month peak on upbeat China trade data – RTRS
China November exports, imports rise unexpectedly, commodity purchases soar – RTRS
Risk sentiment improved after Chinese trade data was released, which showed an increase in imports, a hint that domestic demand has strengthened. All the major Asian stock indices are up on the day, and commodity currencies rallied. NZD/USD rose from 0.7160 to 0.7220, while AUD/USD made it from 0.7475 to 0.7510. USD/CAD came under renewed pressure due to the rally in Oil prices, and fell from 1.33 to 1.3210.
The Euro is relatively quiet ahead of the ECB rate decision today; EUR/USD consolidated in a 1.0750-80 range. The market is expecting the central bank to leave all key rates unchanged, but to extend the duration of the QE programme.
USD/JPY fell in the early Asian session, despite the risk-on sentiment in markets. However, the pair found support ahead of 113 and made it back to 113.60. GBP/USD rose from 1.2615 to 1.2665.