Japan PMI composite rises to 52.0 as services lead and manufacturing stabilizes.Japan's November flash PMIs offered a cautiously constructive signal for the economy, with the Composite Index rising from 51.5 to 52.0 — the best reading in three months and joint-highest since August 2024. Manufacturing activity remained in contraction but improved to 48.8 from 48.2.

Australia's PMI composite rises to 52.6, firmer growth with manufacturing rebounds.Australia's November flash PMIs delivered a surprisingly upbeat signal, with manufacturing jumping back into expansion at 51.6 after October's soft 49.7. Services PMI also nudged higher from 52.5 to 52.7, lifting Composite Index from 52.1 to 52.6.

NZ sees strong EU export growth, yet trade balance hit by China import surge.New Zealand's October trade report showed exports and imports both rising solidly from a year earlier, yet leaving the country with a monthly deficit of NZD -1.5B. Goods exports climbed 16% yoy to NZD 6.5B, driven by broad-based strength across key markets.

Fed's Paulson urges caution as every cut raises the bar for next.Philadelphia Fed President Anna Paulson said overnight that she is approaching the December FOMC “cautiously,” highlighting a delicate balance between a cooling but still-stable labor market and inflation that remains above target.

Rupee poised for muted open with Asia FX navigating risk-off, lower U.S. yields.The Indian rupee is set for a quiet open on Friday, with Asian currencies largely absorbing the latest bout of risk-off sentiment, supported by a slide in U.S. Treasury yields.

Fed's Goolsbee warns against front-loading cuts amid patchy inflation data.Chicago Fed President Austan Goolsbee struck a cautious tone overnight, warning that the central bank itself risks “front-loading too many rate cuts” before it has enough information to judge whether inflation is truly easing again. He stressed that his concern is not about the Fed's destination — he still believes rates “are going to go down” over the medium term — but rather about the wisdom of easing too quickly in the short run given the recent inflation uptick.

US Dollar Index declines to near 100.00 on mixed jobs data and rate cut uncertainty.US Dollar Index declines to near 100.00 on mixed jobs data and rate cut uncertainty

Recap - Japan export rebound continues in October despite lingering U.S. weakness.Japan's exports rose for a second straight month in October, signalling a partial recovery after recent tariff-driven weakness in U.S. demand.

Japan's Katayama: Debt ratio to fall slightly as government and BoJ work toward stable inflation.Japan's Katayama: Debt ratio to fall slightly as government and BoJ work toward stable inflation

BOJ chief Ueda says weak yen could affect underlying inflation.Bank of Japan Governor Kazuo Ueda said on Friday the central bank must be mindful of the chance the weak yen could affect underlying inflation by pushing up import costs and broader prices.

BoJ's Ueda says weak Japanese Yen pushes up import prices, factor in higher CPI.BoJ's Ueda says weak Japanese Yen pushes up import prices, factor in higher CPI

EU explores investment in Australian resources as trade talks set to restart.The European Union is weighing new ways to invest directly in Australia's critical resources sector, with Trade Commissioner Maroš Šefčovič saying Brussels is exploring options ranging from equity stakes to long-term offtake agreements and joint investments.

Japanese Yen Forecast: USD/JPY Eyes 160 on Fed Speakers, PMI Data.Soft Japanese trade and GDP data weigh on yen outlook as inflation edges higher. Traders watch PMIs and Fed speeches for clues on USD/JPY's path toward 160.

Dollar set for weekly gain as Fed cut bets recede; yen intervention eyed.The dollar was on track for its best week in over a month on Friday as investors wagered the Federal Reserve is unlikely to cut rates next month, with the case for further easing made no clearer by a confounding U.S. jobs report.

Japan signals chance of currency intervention, yen rises.Japan sees currency intervention as a possibility in dealing with excessively volatile and speculative moves in the yen, Finance Minister Satsuki Katayama said on Friday, in the strongest warning to date against recent falls in the currency.

UK consumer confidence falls ahead of budget as households brace for tax hikes.UK consumer confidence slipped in November as households brace for potentially tough measures in next week's budget, according to the latest GfK survey. The headline index fell to -19 from -17, slightly weaker than the Reuters poll expectation of -18 and matching the lowest reading since May.

Singapore lifts 2025 growth forecast after Q3 GDP beats expectations.Buoyed by stronger global demand and better-than-expected growth among major trading partners, the Ministry of Trade and Industry lifted its 2025 GDP forecast to around 4.0%, up from the earlier 1.5%–2.5% range.

United Kingdom GfK Consumer Confidence registered at -19, below expectations (-18) in November.United Kingdom GfK Consumer Confidence registered at -19, below expectations (-18) in November

Japan exports beat expectations in October as Asia and EU demand pick up.Japan's trade data for October came in stronger than expected, with exports rising 3.6% year-on-year, comfortably beating forecasts for a 1.1% gain, according to Ministry of Finance figures. Imports also surprised to the upside, edging 0.7% higher versus expectations for a small decline.

USD/JPY weakens below 157.50 as intervention fears offset strong US jobs growth.USD/JPY weakens below 157.50 as intervention fears offset strong US jobs growth

GBP/JPY Price Forecast: Holds near 206.00 after refreshing yearly high.GBP/JPY Price Forecast: Holds near 206.00 after refreshing yearly high

ICYMI - Trump's latest cave in, slashes tariffs on Brazil. Every day brings a TACO story..President Donald Trump has widened tariff relief for Brazilian food imports, reversing part of the steep trade penalties he imposed earlier this year and aiming to ease pressure on U.S. consumers frustrated by high grocery bills.

Australia S&P Global Manufacturing PMI up to 51.6 in November from previous 49.7.Australia S&P Global Manufacturing PMI up to 51.6 in November from previous 49.7

Australia's S&P Global Manufacturing PMI rises to 51.6 in November.Australia's S&P Global Manufacturing PMI rises to 51.6 in November

Australian Dollar Outlook: AUD/USD Breakout, AUD/JPY Mean Reversion?.A solid NFP print of 119k was undermined by a rise in unemployment to 4.4%, though the lift in participation leaves it closer to a strong report than a weak one. The US Dollar Index pushed to a six-month high, and Wall Street reversed opening gains to close with bearish engulfing candles.

Australian preliminary November PMIs: Manufacturing 51.6 (prior 49.7).Australian S&P Global Manufacturing PMI Flash (November 2025) 51.6, a nice jump back into expansion prior 49.7 Services 52.7 prior 52.5 Composite 52.6 prior 52.1 --- Little impact on the AUD. The currency fell alongside the broad risk sell off on Thursday, US time.

New Zealand Trade Balance NZD (YoY) down to $-2.28B in October from previous $-2.25B.New Zealand Trade Balance NZD (YoY) down to $-2.28B in October from previous $-2.25B

New Zealand Imports rose from previous $7.18B to $8.04B in October.New Zealand Imports rose from previous $7.18B to $8.04B in October

$20bn extra bail out for Argentina - banks say No.U.S. banks have abandoned plans for a large, multi-year $20 billion bailout package for Argentina, according to the Wall Street Journal. The proposal, which had been under discussion as part of wider financial support for President Javier Milei's stabilisation agenda, has been deemed unworkable given Argentina's deteriorating fiscal position and limited creditor appetite.

Crude Oil Price Forecast: Bull Flag Coils Below 20-Day/50-Day Resistance.Crude oil carved another lower high ($60.22) and low ($58.72) Thursday, staying inside the developing bull flag while retesting $58.24–$58.94 support.