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  1. #1161
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    Japan Export Growth Steady in October

    Japan's export growth was steady in October, which indicates that global demand for Japanese cars and electronics will likely extend the economic recovery into the current quarter.

    According to data from the Ministry of Finance, exports increased 14.0 percent year-on-year in October, driven by shipments of automobiles to Australia and liquid-crystal device production equipment and raw materials for plastics to China. It follows a 14.1 percent rise in September.

    The recent figures follows data which showed that Japan's economy grew at an annualized rate of 1.4 percent in the third quarter, propelled by strong external demand.

    In volume terms, exports increased 3.8 percent in October from the previous year, following a 4.8 percent annual rise in September.

    The value of exports to the United States was up 7.1 percent in the year to October led by motors and construction and mining machinery, following an 11.1 percent rise in September.

    Japan's trade surplus with the United States increased by an annual 11.3 percent in October to 644.7 billion yen ($5.75 billion), a source of concern given President Donald Trump's demand for bilateral trade talks to fix trade imbalances under his “America First” policy.

    The data recorded the fourth consecutive month of annual expansion in Japan's trade surplus with the United States.

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  2. #1162
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    Thai GDP Growth Accelerates In Q3



    Thailand's economy grew at a faster pace in the third quarter, data from the National Economic and Social Development Board showed Monday.

    Gross domestic product expanded 4.3 percent year-on-year, bigger than the 3.8 percent growth posted a quarter ago.

    The economy was forecast to grow 3.9 percent.

    Quarter-on-quarter, GDP advanced 1 percent versus 1.4 percent in the previous three months.

    On the expenditure-side, private consumption grew 3.1 percent annually versus 3 percent a quarter ago. Likewise, growth in government spending improved to 2.8 percent from 2.6 percent.

    Gross fixed capital formation advanced 1.2 percent, much faster than the 0.4 percent increase seen a quarter ago.

    For the external sector, exports and imports of goods and services climbed 7.4 percent and 6.7 percent, respectively.

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  3. #1163
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    BRAZIL: Real Remains Unchanged As Local Holiday Drains Market Liquidity

    A local holiday in S?o Paulo, the main financial center in Brazil, kept the country's stock market closed Monday and drained liquidity from the foreign exchange trading, leading the real to end the session unchanged at R$ 3.2640 per dollar.

    According to Correparti's analyst Ricardo da Silva Filho, there were dollar trades in cities where there was no holiday, but the smaller trading volume resulted in an increased bid/ask spread.

    "There was no market benchmark to the dollar price. Only those who really needed were trading," he added.

    On Tuesday, when the market volume is set to rise again, traders will focus on the developments regarding the pension reform bill, said analysts from H. Commcor.

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  4. #1164
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    BRAZIL: Ibovespa Rises With Expectation For Discussion Of Pension Reform

    Ibovespa, the benchmark stock market index in Brazil, closed up 1.57% at 74,594.61 points on Tuesday amid a better external scene and investors' view that president Michel Temer is closer to get the pension reform bill voted in the House of Representatives later this year.

    "In the external scenario, it was a very positive day for risky assets. There was news that led to a positive expectation on the pension reform bill, which could be voted at the beginning of December, giving the market a boost," said Rafael Passos, an analyst at Guide Investimentos.

    According to H. Commcor's chief operating officer, Ari Santos, the cabinet reform promoted by Temer leads the market to believe that he would have the political strength to pass the pension reform bill.

    According to Santos, the expiry of stock options brought selling pressure at the end of the trading session.

    For Wednesday, Passos sees Ibovespa keeping the upward trend, once the political scene continues to corroborate the purchase. Santos foresees space for profit-taking and expects a fall for Wednesday.

    Meanwhile, the locally traded U.S. dollar closed down for the third consecutive trading session (-0.36%), at R$ 3.252, reflecting an increase in the expectation of the pension reform bill's approval and a quieter external scenario, with a drop in the greenback against emerging currencies.

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  5. #1165
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    U.S. Yields Slide as Fed’s Concerns About Subdued Inflation Persist

    Prices on U.S. government bonds advanced, causing yields to retreat, after the minutes of the Oct. 31-Nov. 1 meeting of the Federal Reserve showed policymakers are worried about the weak inflation, affecting the prospects for rate hikes in 2018.

    The 10-year Treasury note yield edged down by 4.1 basis points to 2.320 percent. Meanwhile, the yield on the two-year note declined by 3.8 basis points to 1.735 percent. The yield on the long bond or the 30-year Treasury note fell by 2.1 basis points to 2.741 percent.

    On Thursday, financial markets will be closed for the Thanksgiving Day holiday, while stock and bond markets are slated for an early close on Friday.

    The readout from the November meeting of the Federal Reserve OPen Market Committee indicated a December rate hike continues to be on its planned track, a move that is highly expected by markets. Before the release of the minutes, traders in the fed fund futures market placed a 97 percent probability of a rate hike in December.

    However, the overall perception of the meeting's talks were mostly dovish as some officials voiced their concern regarding inflation remaining below 2 percent for longer than their current expectations.

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  6. #1166
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    Japan Manufacturing Growth Strongest Since March 2014



    Japan's manufacturing activity expanded at the steepest pace in more than three-and-a-half years in November, survey figures from IHS Markit showed Friday.

    The Nikkei flash Manufacturing Purchasing Managers' Index, or PMI, climbed to a 44-month high of 53.8 in November from 52.8 in October.

    Any reading above 50 indicates expansion in the sector.

    Among components, output, new orders, employment all increased at faster rates in November.

    "A cheaper yen and higher material prices have intensified cost pressures, as input price inflation increased to a 35-month high in November," Joe Hayes, Economist at IHS Markit, said.

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  7. #1167
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    U.K. Consumer Spending Powers Economic Growth

    Consumers fueled the British economy's growth in the third quarter as spending on vehicles regained footing but Brexit appears to be taking a toll on business investment.

    According to a report by the Office for National Statistics, household spending increased 0.6 percent, the fastest pace in a year. However, business investment slowed down and net trade weighed on growth. Total GDP grew at an unrevised rate of 0.4 percent, higher compared to the 0.3 percent expansion in the last quarter.

    Business investment increased 0.2 percent, its worst performance since the end of 2016 and net trade shaved 0.5 percentage points from growth as exports declined and imports increased.

    Despite consumer spending strengthening from growth of just 0.2 percent in the previous three months, recent reports have underlined the risk of a slowdown before a crucial holiday shopping period as the squeeze on incomes from inflation begins to bite.

    The economic data comes a day after Chancellor of Exchequer Philip Hammond issued a downgraded economic outlook due to the weak productivity and headwinds presented by Brexit.

    The Office for Budget Responsibility estimated the economy will grow 1.5 percent this year, down from the 2 percent growth projected in March and estimated growth will remain below 2 percent through 2022.

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  8. #1168
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    China's Industrial Profits Continue To Grow Sharply In October

    China's industrial profit growth remained strong in October despite easing slightly from a month earlier, figures from the National Bureau of Statistics showed Monday.

    Industrial profits surged 25.1 percent year-over-year in October, slower than the 27.7 percent spike in September, which was the sharpest growth since 2011.

    During the first ten months of the year, total profits of industrial enterprises grew 23.3 percent annually, up from 22.8 percent rise in the January to September period.

    Earnings at state-owned firms jumped 48.7 percent and private firm's profits climbed by 14.2 percent in the January to October period.

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  9. #1169
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    ARGENTINA: Merval Gives Up On Profits And Falls 1.21%

    Merval, the main index of the Buenos Aires Stock Exchange, gave up its early gains to fall 1.21%, closing at 27,131.89 points Monday amid high volatility in the local financial market.

    Analysts said that investors are closely following the progress of the tax, pension and labor reform bills in Congress to gauge how broad the changes will be.

    "The local market had no volume to sustain the initial rise and ended with a decline of 1.21%," said analysts at Bull Market Brokers.

    PGR posted a significant rebound that led it to rise 8.21%, while Banco Macro earned 0.98% on the day that its chairman - now on leave - Jorge Brito testified in a corruption case.

    The sharpest falls of the day were Comercial del Plata (-5.22%), Edenor (-2.91%), TGS (-2.80%), and Petrobras (-2.57%).

    The locally traded U.S. dollar closed down 0.15%, at 17.32 Argentinean pesos, while the local currency continues to appreciate against the greenback.

    "With the drop today, the U.S. dollar returned to levels at the end of last September and moved away again from its annual peak," said Gustavo Quintana, an analyst at PR Corredores.

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  10. #1170
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    Treasury Prices Rally as Senate GOP Starts Push for Tax Bill

    U.S. government prices increased, causing yields to fall as Senate Republicans launch this week's push to pass their version of the tax bill.

    The benchmark 10-year Treasury note declined by 1.4 basis points to 2.382 percent. Meanwhile, the two-year note yield fell 0.7 basis points to 1.777 percent. The 30-year bond yield was steady at 2.765 percent.

    With the House pushing for its own version of the tax plan, the Senate Republicans have kicked off their efforts to put their own bill to vote by the end of the week. However, with only a narrow majority in the Senate, there are worries that defections from the GOP could dash the bill have raised skepticism.

    According to a source on Monday, Montana Republican Senator Steve Daines was against the current terms of the tax legislation.

    A deficit-funded tax cut is seen to drive a rally in Treasury yields, as the federal government will need to bolster the size of U.S. government debt auctions.

    The U.S. bond market can be affected by big sales of government paper.

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  11. #1171
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    Australia Manufacturing PMI Spikes In November - AiG

    The manufacturing sector in Australia continued to expand in November, and at an accelerated rate, the latest survey from the Australian Industry Group showed on Friday with a PMI score of 57.3.

    That's up sharply from 51.1 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

    It also marks the 14th straight month of expansion.

    Individually, new orders, exports, deliveries, production, sales, employment and stocks all expanded.

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  12. #1172
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    UK and EU on the Verge of Sealing Brexit Divorce Deal

    Britain and the European Union are on the edge of finalizing a Brexit separation deal on Monday, as UK Prime Minister Theresa May travels to Brussels to open trade talks.

    Northern Ireland and the future role of European courts in Britain are the most delicate issues that remain to be endorsed in a draft joint text that May hopes to sign-off over the meeting with European Commission President Jean Claude Juncker.

    According to diplomats involved in the negotiations, objections from Northern Irish unionist politicians are currently the main potential deal-breaker. A senior Irish official said that they await signs of a definitive breakthrough, leaving the agreement hanging in the balance.

    The largest risk is the consent of the British cabinet and Northern Ireland's Democratic Unionist party, May's parliamentary ally, to the wording of a proposed compromise on the Northern Ireland border.

    The EU side calls for May to endorse draft language that would, in effect, acknowledge the need for a unique fallback option for Northern Ireland if EU-UK trade relations make a hard border impossible to avoid.

    A group of 30 Eurosceptic figures from a campaign group known as Leave Means Leave said that Britain should pull out from talks unless certain demands were met.

    May gave in to EU demands on the UK paying a financial settlement of €40 billion-€60 billion net and the rights of EU citizens in Britain.

    EU leaders have cautioned May that today's meeting is a deadline for resolving outstanding issues if she hopes to guarantee a “sufficient progress” EU summit on December 14-15.

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  13. #1173
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    China Services PMI Strengthens To 51.9 In November

    The services sector in China continued to expand in November, and at a faster rate, the latest survey from the National Bureau of Statistics said on Tuesday.

    That's up from 51.2 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

    The bureau also said that its composite index climbed to 51.6 in November, up from 51.0 in the previous month.

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  14. #1174
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    Bitcoin Breaks Through $12, 000 Mark for the First Time

    In early Asian trading, Bitcoin's value rose above the $12, 000 mark, as the digital currency continued its rally. The digital currency last traded at $12, 123.98, according to CoinDesk.

    The digital currency started the year at less than $1, 000 per token, but in recent months has shown a stellar upward movement: it reached $5, 000 in October and rose above $11, 000 for the first time less than two months later, CoinDesk data showed.

    The most recent surge brings the cryptocurrency's total market value to around $203 billion.

    The digital token's rally comes amid widespread criticism from Wall Street analysts and financial institution personalities.

    Despite this, many elements of the financial world have welcomed the new crypto asset class. Major exchanges such as CME and CBOE have legitimized the cryptocurrency's investment credentials by announcing their plans to introduce future contracts to their respective exchanges in the near future.

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  15. #1175
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    ARGENTINA: Vehicle Production Rises 3.1% On Month In November

    Vehicle production in Argentina hit 45,228 units in November, 3.1% more than in October, but 3.7% less than in the same month last year, said the country's Association of Automotive Manufacturers (ADEFA).

    The sector exported 19,122 vehicles - 9.7% less than in the previous month, and 11.2% below the volume recorded in the same month of 2016.

    In wholesale sales, the sector sold 78,631 units, a volume that was 5.7% over the previous month's record, and 26% higher compared to November last year.

    Year-to-date, the automotive sector produced 438,878 units, 1.4% more than in the same period of the previous year.

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  16. #1176
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    Australian Dollar Slides to Two-Week Low after Trade Data Miss Estimates

    The Australian dollar declined to a two-week low on Thursday after published economic data showed its trade surplus contracted in October, clocking in below estimates as exports weakened.

    According to the Australian Bureau of Statistics, the country's balance of goods and services was a surplus of A$105 million for October. The figure was down from A$1.6 billion in September and missed estimates of A$1.4 billion by economists

    Exports declined 3 percent in October compared to the prior month's A$903 million, missing estimates of 3 percent growth. Outbound shipments of non-rural goods declined 5 percent while rural goods slid 2 percent.

    Imports increased 2 percent month on month, defying expectations that inbound shipments would be flat.

    The Aussie declined 0.3 percent versus the greenback to its lowest since November at $0.7544 after the data publication.

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    Bitcoin Scales New Record High in Rally Towards $20, 000

    The digital currency Bitcoin reached another record peak on Tuesday, two days after the debut of the bitcoin futures on a U.S. exchange and before the launch of another futures contract next week, raising investors' hope that the Bitcoin is nearing the $20, 000 mark.

    On Sunday, Cboe Global Markets introduced bitcoin futures, allowing investors to experience trading with the cryptocurrency through a large, regulated exchange. On December 17, CME Group is expected to launch its own futures contract.

    The biggest cryptocurrency in the world was priced at $17, 310 on Bitstamp exchange, up 5.1 percent on the day. Early on Tuesday, bitcoin rose to a record high of $17, 428.42, recording an almost 20-fold rise in its value for the year as it attracted millions of new investors.

    However, as bitcoin hit a new record, digital currency exchange operators Coinbase and Bitfinex reported issues with service via their website, causing problems for traders looking to lock in their profits on the latest gains in the value of bitcoin and other cryptocurrencies.

    Meanwhile, the one-month bitcoin futures on Cboe Futures Exchange traded slightly tepid, with prices generally stead and volumes around a third of those seen on Monday. Bitcoin futures due on January traded at $18, 450 with around 1,416 contracts traded.

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  18. #1178
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    China Retail Sales Rise 10.2% In November

    Retail sales in China were up 10.2 percent on year in November, the National Bureau of Statistics said on Thursday.

    That missed forecasts for 10.3 percent but was still up from 10.0 percent in October.

    The bureau also noted that industrial production advanced an annual 6.1 percent - matching forecasts and down from 6.2 percent in the previous month.

    Fixed asset investment was up 7.2 percent, again in line with expectations and slowing from 7.3 percent a month earlier.

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  19. #1179
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    Indonesia Exports Rise More Than Expected In November

    Indonesia's exports and imports grew more than expected in November, data from statistics bureau revealed Friday.

    Exports rose 13.18 percent year-over-year in November, faster than the 12.63 percent growth economists had forecast.

    Imports surged 19.62 percent in November from a year ago, well above the expected spike of 13.0 percent.

    As result, the trade surplus shrank notably to around $130 million in November from $833 million in the corresponding month of 2016.

    The expected surplus was $844 million. In October, the surplus totaled $1.0 billion.

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    CHILE: Guillier And Pi?era Face Second Round For Presidency On Sunday

    The ruling candidate Alejandro Guillier and the conservative former President Sebasti?n Pi?era will face each other on Sunday for the presidency of Chile in a hard-fought ballot, in which the continuity of the center-left reforms are challenged by Pi?era's promises for greater economic growth.

    Pi?era achieved 36.6% of the votes in the first round, while the Senator Guillier won 22.7% of the vote. Although both candidates would maintain the free market model, Pi?era intends to reverse the tax and social reforms promoted by the current president Michelle Bachelet. If elected, Pi?era promises to double the growth of the economy.

    Meanwhile, Guillier seeks to shield Bachelet's economic and social reforms and has promised to focus on deepening free education access, ending the monopoly of the Pension Fund Administrators (AFP) and promote a new Constitution for the South American country.

    The main pollers in the country indicate a too close to call scenario. Cadem's survey shows Pi?era with 40% and Guillier with 38.6%, while Criteria gives 47% for Pi?era and 45% for Guillier.


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