The USD/JPY pair dropped for the fourth day, as safe haven currencies are still holding their ground amid the uncertainty and fears ahead of the EU summit.
Asian stocks recorded losses after the Australian economy cut jobs for the first time in three months during November, in addition to the RBNZ and the BOK which left their interest rate steady at 2.50% and 3.25% respectively.
Financial market fluctuated during this week between optimism and pessimism, as the EU crisis and the global growth outlook affected investors’ and controlled the market sentiment.
On Friday at 23:50 GMT (Thursday), Japan will release the final reading for the third quarter Gross Domestic Product where the previous reading showed that the Japanese economy grew by 1.5%.
The U.S. economy will release the Trade Balance for October, where it’s expected to show a deficit of $44.0 billion widening from the previous deficit of $43.1 billion.
The University of Michigan Confidence for December will be released at 14:55 GMT and expected to slow to 63.0 from 64.1.
Originally posted here
