AMERICAS All I want for Xmas is accurate economic data.Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend.

Germany headed for biggest deficit since reunification, Bundesbank says.Germany is heading for its largest deficit since the reunification between the east and west three decades ago due to the government's spending plans, the Bundesbank said on Friday, calling for urgent action to keep public finances in check.

Rupee rises 54 paise, strengthens past 90/USD level.On Friday, the Indian Rupee made a notable leap, gaining 54 paise to wrap up at 89.66 against the US Dollar. This uptick was fueled by robust corporate dollar inflows and a dip in crude oil prices.

Modest Decline by the Bollar After Lower Inflation.American annual headline inflation at 2.7% was significantly lower than expected.

USD holds firm despite soft November CPI – ING.USD holds firm despite soft November CPI – ING

Italy Industrial Sales n.s.a. (YoY): 1.7% (October) vs previous 3.4%.Italy Industrial Sales n.s.a. (YoY): 1.7% (October) vs previous 3.4%

Euro Holds Near 1.1700 Following ECB Policy Stance.The EUR/USD pair declined to around 1.1700 after the European Central Bank (ECB) left key interest rates unchanged, a widely anticipated decision that provided little fresh directional impetus for the single currency.

Russia's Putin says cooling of economy in 2025 is a 'conscious' decision.An economic slowdown in Russia this year to 1% growth from 4.3% in 2024 was the result of conscious actions by the central bank to bring down the inflation rate, President Vladimir Putin said on Friday.

Pound Sterling Gains vs Euro and Dollar on Bank of England Rate Cut.The Pound Sterling gained against the euro and the US dollar on Thursday after the Bank of England cut interest rates as expected, while a sharper-than-forecast drop in US inflation boosted risk appetite and supported sterling. Latest — Exchange Rates:Pound to Euro (GBP/EUR): 1.14193 (+0.04%)Pound to Dollar (GBP/USD): 1.33766.

Dollar Begins Fightback as Prices Jump 100 Pips!.The greenback was back on its feet after the Bank of Japan raised its benchmark rate. The move came as weakness in Japan's economy forced the central bank to act.

USD/JPY pulls back after 157.90 rejection – Société Générale.USD/JPY pulls back after 157.90 rejection – Société Générale

Sterling hits 17-year high against yen as traders overlook rate divergence.The pound held steady against the euro and the dollar on Friday, after the Bank of England delivered an expected rate cut, while hitting its highest since 2008 against the yen, hit by profit-taking following a well-telegraphed Bank of Japan rate increase.

Eurozone Current Account s.a above expectations (€19.6B) in October: Actual (€25.7B).Eurozone Current Account s.a above expectations (€19.6B) in October: Actual (€25.7B)

USD/JPY rallies to near 157.00 as Yen plunges after BoJ's policy outcome.USD/JPY rallies to near 157.00 as Yen plunges after BoJ's policy outcome

Bank of Japan Raises Policy Rate, Yen Fails to Profit.US Treasuries outperformed yesterday on benign November CPI numbers. The partial inflation report showed headline and core inflation slowing down to respectively 2.7% Y/Y and 2.6% Y/Y from 3%.

Yen Slides After BoJ Hike as Markets Sell the News, Dollar Rebounds on CPI Doubts.Yen weakened broadly today despite the BoJ delivering a widely expected 25bps rate hike. The move pushed 10-year JGB yields above the psychologically important 2% level for the first time since 1999, but higher yields failed to translate into currency support.

Debt boom signals yuan's arrival as a funding currency.Investors are snapping up yuan credits and surging yuan lending is poised to overtake overseas dollar loans at Chinese banks as attractive pricing helps drive a sustained push by Beijing to put the yuan on the global stage.

Indian rupee forward premiums hit 3-year high on year-end adjustments, hedging.U.S. dollar/Indian rupee forward premiums rose to three-year peaks on Friday, spurred by excess dollar liquidity, traders unwinding positions and hedging demand in the non-deliverable forward market, bankers and FX advisors said.

Taking the Temperature on Consumer Sentiment.Following the large batch of Central Bank meetings yesterday, attention turns to taking the temperature of consumer well-being through data releases on consumer confidence and retail sales. Both figures are released in the morning for Denmark, Sweden and Germany, while consumer confidence figures are out later in the day for the euro area and the US.

BoJ raises rates to 0.75%, keeps tightening bias intact.The BoJ raised its policy rate by 25bps to 0.75%, as widely expected, marking another step in its gradual normalization process. Despite the hike, the BoJ emphasized that financial conditions remain highly accommodative, with real interest rates still “significantly negative.

GBP/JPY Price Analysis: Hits fresh highs above 209.00 due to persistent bullish bias.GBP/JPY Price Analysis: Hits fresh highs above 209.00 due to persistent bullish bias

UK November retail sales disappoint on expectations with another slump in November.This follows a decline of 0.9% in retail sales volume for October, which was revised up from a 1.1% decline previously. The year-on-year estimate for November shows that UK retail sales are now 0.6% higher compared to the same month a year ago.

UK retail sales fall 0.1% in November.British retail sales unexpectedly fell by 0.1% in November from October, official figures showed on Friday.

NZ ANZ business confidence hits 30-year high as cyclical recovery gathers pace.New Zealand business confidence surged in December, with the ANZ headline index jumping from 67.1 to 73.6. Firms' own activity outlook rose sharply from 53.1 to 60.9.

Natural Gas and Oil Forecast: Descending Channels Signal Weak Momentum.Oil prices slide for a second week as Brent drops 2.3% and WTI 2.5%, while natural gas stays bearish below $4.20 with key support at $3.84.

NZ trade deficit narrows to ND -163m on 9.2% yoy exports surge.New Zealand's trade balance surprised to the upside in November, with the deficit narrowing sharply to NZD -163m, far smaller than expectations for a shortfall of around NZD -1.2B. The improvement was driven by a solid pickup in exports, which rose 9.2% yoy, or NZD 588m, to NZD 7.0B.

USD/JPY Turns Heavy—Is the Downtrend Reloading?.The US Dollar formed a base near 154.35 and corrected some losses against the Japanese Yen. USD/JPY climbed above 155.00 before the bears appeared.

Rupee strengthens past 90/USD level in early trade.The rupee appreciated 24 paise to 89.96 against the US dollar on Friday, driven by corporate dollar inflows and easing crude oil prices. This gain follows recent record lows, with likely RBI intervention and crude oil hovering around USD 59 per barrel supporting market sentiment.

Morning Bid: Japan's savers get to party like it's 1999.A look at the day ahead in European and global markets from Wayne Cole.

Netherlands, The Consumer Confidence Adj: -21 (December).Netherlands, The Consumer Confidence Adj: -21 (December)