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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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Thai GDP Growth Accelerates In Q3

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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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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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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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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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Japan Manufacturing Growth Strongest Since March 2014

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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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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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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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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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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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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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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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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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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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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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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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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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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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ARGENTINA: China Reduces Tariffs On Food Imports

The Chinese government has cut import tariffs for food products as of December 1, a decision that favors some of Argentina's exports, according to the South American country.

The regulations establish lower temporary tariffs aimed at reducing prices and stimulating spending of the final consumer on 187 products that China has to import.

According to the Argentinean government, there was a tariff reduction on 32 items that favor the country - for example, frozen shrimp (from 5% to 2%). That is one of the main export products of the Argentinean fishing sector to China. In the dairy sector, the tariff has been reduced for all cheeses, except for fresh ones.

In food and beverages, there will be a reduction in the tariffs for uncooked pasta, without egg (mainly comprising dried pasta) homogenized whiskey, said the Ministry of Agribusiness of Argentina.

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CME Bitcoin Futures Receive Muted Welcome in Market Debut

Bitcoin futures got a lukewarm reception following their debut on CME Group on Sunday, posting a decline while volumes in the tens of millions of dollar in the first 12 hours of trading.

The launch of the futures by the biggest derivatives exchange operator and its main rival, Cboe Global Markets a week prior, had been marked by many as the time bitcoin has been accepted as a mainstream investment. This view helped drive up the bitcoin higher than before in recent weeks. The cryptocurrency is poised for its biggest monthly gains in over four years, after its price increased by twofold since the start of December, when it stood at less than $10, 000.

Despite the hype surrounding bitcoin, trading volumes in CME and Cboe futures have so far been moderate.

A total of 751 contracts had been traded on CME's January futures contracts. CME bitcoin futures set to expire on January settled at $19, 100 on Monday, 2.1 percent lower than the level the exchange had set the opening price before the launch of the futures on Sunday evening.

Initially, the January contract climbed as high as $20, 650, before sliding to $18, 345 within several hours of trading. Bitcoin sold off following the futures launch and traded at $18, 722.65 late Monday afternoon, CoinDesk said.

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Japan All Industry Activity Rebounds As Expected In October

Japan's all industry activity increased as expected in October, after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed Wednesday. The all industry activity index rose 0.3 percent month-over-month in October, reversing a 0.5 percent decrease in September. Industrial production advanced 0.5 percent over the month and tertiary activity gained by 0.3 percent. At the same time, construction output dropped 0.3 percent. On a yearly basis, all industry activity growth accelerated to 2.0 percent in October from 1.0 percent in the prior month.

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U.S. Regulators Halt Trading of Crypto Company Shares

The U.S. Securities and Exchange Commission has suspended trading in shares of Crypto Company, whose stock value has surged more than 2, 000 percent this month due to the bitcoin mania, stating it was concerned over the possibility of market manipulation.

The California-based company said it is building a cryptocurrency trading and advisory business, is one of some of the previously obscure stocks that have drawn the attention of regulators for volatile price movements, as investors track down equities that might gain from the hype around digital currencies.

In a statement issued by SEC on Tuesday, the regulator said it was worries regarding the accuracy and the sufficiency of the information in the markets regarding payments for promotion of the firm and plans by company insiders to auction shares.

The U.S. regulator added that questions have also been raised about potentially manipulative deals in the firm's stock in November 2017.

The company said it would be releasing a statement in reaction to the SEC suspension but declined to issue more comments. The regulator said its suspension would be in place until January 3.

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Oil Prices Steady on Lower U.S. Crude Inventories

Oil prices were on a steady footing after posting solid gains late in the prior session on the back of a decline in U.S. crude stockpiles.

However, another increase in U.S. oil production, which is near to surpassing the 10 million barrels per day level, is limiting crude prices as it erodes efforts led by OPEC and other producers to tighten the market by withholding production this year and through 2018.

U.S. WTI crude futures stood at $58.05 per barrel, falling 3 cents from their last close. The international benchmark for oil prices, Brent crude futures, traded at $64.58 per barrel, falling by 8 cents. Both crude benchmarks edged up around 1 percent during the prior session.

According to traders, the drawdown in U.S. crude oil inventories were providing supporting the market. U.S. crude stockpiles declined by 6.5 million barrels in the week to December 15, according to the Energy Information Administration's report on Wednesday. Total crude stocks declined to 436 million barrels, its lowest level since October 2015.

The rebalancing of supply and demand is a result of OPEC and other participating countries' voluntary production cuts.

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PETROBRAS: Company To Invest US$ 60 Billion In Pre-salt By 2022

Brazilian state-owned oil company Petrobras is directing most of the investments in the area of oil production in the pre-salt layer, and by 2022 around US$ 60 billion in will be destined to the area, said Pedro Parente, Petrobras' chairman, during a press conference.

According to him, Brazil today is the leader in oil exploration in Latin America and the ninth largest producer in the world. The goal is to reach the seventh place in the next few years.

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US Treasury Yields Little Changed after Congress Passes Tax Bill

U.S. government debt yields were little changed on Thursday, as investors priced in the latest news coming from the U.S. economic sphere.

The yield on the benchmark 10-year Treasury note dropped to 2.486 percent, while the yield on the 30-year Treasury bond was lower at 2.84 percent. Bond yields move inversely to prices.

The yield curve continued to flatten, with the 3-year Treasury note yield approaching two percent.

A major obstacle surrounding overhauling the U.S. tax code was conquered after House Republicans voted to approve tax reform, consequently meaning that the legislation can be sent to President Donald

Trump's desk for a signature by Christmas.

This follows after Republicans had to fix the bill, as a result of violations concerning the Byrd rule.

The overhaul is anticipated to become law for next year, with the bill set to reduce corporation tax rates while temporarily trimming the tax burden for the majority of people.

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Japan Housing Starts Fall Less Than Expected In November

Japan's housing starts declined at a slower-than-expected pace in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Wednesday.

Housing starts fell 0.4 percent year-on-year in November, much slower than October's 4.8 percent decrease.

That was also below the 2.6 percent drop economists had forecast. Moreover, it was the fifth successive monthly fall.

Annualized housing starts climbed to 951,000 from 933,000 in the previous month. It was forecast to rise to 934,000.

Data also showed that construction orders received by big 50 contractors surged 20.5 percent yearly in November, following a 6.7 percent increase in October.

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COLOMBIA: Hass Avocado Exports To The U.S. Are On Track, Producers Say

Colombian exports of Hass avocado to the United States are still ongoing, according to a work plan signed by CorpoHass and U.S. sanitation authorities.

The Colombian Agricultural Institute is moving forward with a program to eradicate pests from Hass avocados in 21 municipalities from seven Colombian states and, in January, the country should export the fruits from the Antioquia state.

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South Korea Inflation Gains 0.3% In December

Consumer prices in South Korea were up 0.3 percent on month in December, Statistics Korea said on Friday.

That follows the 0.7 percent monthly decline in November.

On a yearly basis, inflation advanced 1.5 percent - up from 1.3 percent in the previous month.

Core CPI, which excludes food prices, gained 0.2 percent on month and 1.5 percent on year in December after slipping 0.3 percent on month and rising 1.4 percent on year a month earlier.

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Thailand Manufacturing Sector Expands In December

Thailand's manufacturing activity expanded marginally in December, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Nikkei Manufacturing Purchasing Managers' Index rose to 50.4 in December from 50.0 in November. Any reading above 50 indicates expansion in the sector.

Among components, growth in both output and new orders were key drivers for the upturn, but employment and input inventories fell further.

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China Services PMI Climbs To 53.9 In December - Caixin

The services sector in China continued to expand in December, and at an accelerated pace, the latest survey from Caixin showed on Thursday with a PMI score of 53.9.

That's up from 51.9 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Also, the composite index came in at 53.0 - up from 51.6 in the previous month.

Individually, there was a solid increase in services activity, accompanied by faster growth in manufacturing output.

Employment remained broadly stable.

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Tesla Falls on Further Delay of Model 3 Production Target

Tesla Inc. pushed back a production target for its new Model 3 sedan for the second time, disappointing investors and causing its shares to slide.

The electric-car maker now projects completing the production of 2,000 Model 3s per week by the end of the first quarter, postponing plans to hit a milestone by another three months. Tesla said it would likely assemble around 5,000 vehicles per week by the end of the second quarter.

The announced delay in production targets caused shares of the company to fall in extended trading. The stock fell by as much as 2.7 percent after the end of regular trading to $308.80.

The Model 3 is seen as a key to Tesla's long-term success, as it is the most affordable among its cars to date and is the only one with the capacity to transform the niche carmaker to a mass producer amid a number of competitors who are making their push into the electric vehicle market.

Assembling the car in an efficient manner and delivering it without any setbacks to customers is also critical as the company faces high cash burn. The company burned through $1.1 billion in capital expenditures in its third quarter and said in November that Q4 capex would be around the same figures in the previous quarter. The delays also increases the risk that reservation-holders would junk their orders.

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U.S. Yields Rally as Investors Eye Jobs Data

U.S. government bond yields edged higher, driving Treasury bond prices lower, as investors weighed in data on jobless claims and private-sector payrolls a day before the release of the official December U.S. jobs report.

Yield on the ten-year Treasury note trimmed an earlier gain to close at 2.452 percent, rising by around 0.7 basis point, while the two-year Treasury note yield advanced 2 basis points to 1.955 percent. The yield on the 30-year Treasury bond advanced marginally to 2.783 percent.

On Wednesday, Treasury yields retreated after minutes from the Federal Reserve's December meeting underlined divisions over the pace of future monetary policy tightening.

The following day, attention was diverted towards the labor market as investors priced in the private-sector employment data from payroll-services company ADP and stood by for data on weekly jobless claims, with yields continuing their rally after a solid reading from ADP.

ADP reported private-sector payrolls increased 250, 000 in December. First time jobless claims in the week ended December 30 came in at 250, 000 versus a revised 248, 000 a week earlier. The figure is higher than the 240, 000 estimated initial claims.

But markets are mostly focused on the December jobs to be released in Friday. Friday's jobs data is expected to show an increase of 198, 000 in December nonfarm payrolls after a 228, 000 increase in November. The jobless rate is estimated to remain steady at 4.1 percent, while average hourly earnings are projected to increase 0.3 percent after a 0.2 percent in November.

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European Economics Preview: Eurozone Economic Confidence Data Due

Economic confidence and retail trade from euro area and factory orders from Germany are due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders data. Economists forecast orders to fall 0.2 percent on month in November, reversing a 0.5 percent rise in October.

In the meantime, industrial production data from Norway is due.

At 3.00 am ET, the Czech Statistical Office releases industrial and construction output and foreign trade figures. Also, Hungary's industrial output and retail sales reports are due.

At 3.15 am ET, the Swiss Federal Statistical Office publishes inflation data.

At 4.30 am ET, Eurozone Sentix investor confidence data is due. The indicator is forecast to rise slightly to 31.2 in January from 31.1 in December.

At 5.00 am ET, the European Commission publishes Eurozone economic sentiment survey results. The index is seen at 114.7 in December versus 114.6 in November.

In the meantime, Eurostat releases retail sales data. Economists forecast euro area retail sales to grow 1.2 percent on month in November in contrast to a 1.1 percent fall in October.

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German Manufacturing Orders Drop in November

German manufacturing orders slipped in November, marking its first decline since July 2017 on the back of a drop in domestic and international demand.

The gauge was down 0.4 percent in November from October on a seasonally and working day adjusted basis. The October reading was revised upwards to a rise of 0.7 percent from 0.5 percent previously, according to data by the Federal Statistics Office.

The Economy Ministry, detailing the figures, said the decline in November was a result of fluctuations in large orders but adds that the trend remained strongly upwards.

A breakdown of the data showed domestic orders dropped 0.4 percent on the month and foreign orders by 0.5 percent.

According to ING economist Carsten Brzeski, the overall fall ”is rather of a technical nature than any sign of weakness.

Germany is facing robust domestic demand supported by record-high employment, rising real wages and low borrowing costs while its exporters are benefiting from a global economic recovery.

The Ifo economic institute forecasts the German economy to grow by 2.6 percent in 2018, pointing to a broad upswing that is generating employment and buoyant tax revenues.

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China Inflation Rises 1.8% On Year In December

Consumer prices in China were up 1.8 percent on year in December, the National Bureau of Statistics said on Wednesday.

That missed expectations for an increase of 1.9 percent but was up from 1.7 percent in November.

On a monthly basis, inflation gained 0.3 percent following the flat reading a month earlier.

The bureau also said that producer prices jumped an annual 4.9 percent, exceeding forecasts for a gain of 4.8 percent but down from 5.8 percent in the previous month.

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US Job Openings, Layoffs Drop in November

U.S. job openings dropped for the second consecutive month in November with declines in the manufacturing and real estate sectors, supporting economist forecasts that job growth will slow this year.

The monthly Job Openings and Labor Turnover Survey, or JOLTS, by the Labor Department, also showed that layoffs fell to a six-month low, however, showing sustained labor market strength.

Job openings, a measure of labor demand, fell by 46,000 to a seasonally adjusted 5.88 million, the lowest level since May. The job openings rate was 3.8 percent, a decline from October's 3.9 percent.

The JOLTS report revealed that layoffs fell 7,000 to 1.67 million in November. That was the lowest level since May and marked five consecutive months of drops.

Industries including manufacturing, business services and transportation and warehousing had fewer openings than in October, while available positions rose in construction and retail, the JOLTS report showed.

Hiring declined 104,000 to 5.49 million in November, and the hiring rate fell to 3.7 percent from 3.8 percent. Economists expect job growth this year to slow to well below the 2017 monthly average of 170,000 as the labor market reaches full employment.

The jobless rate is at a 17-year low of 4.1 percent and economists expect it to decline to 3.5 percent by the end of this year. Non-farm payrolls increased 148,000 in December.

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VENEZUELA: Country And China Review Projects To Increase Oil Production

Representatives of the Venezuelan oil company PDVSA and the China National Petroleum Corporation (CNPC) reviewed the scope of their Petrosinovensa joint venture and other joint projects aiming at accelerating oil production.

The meeting was held at the PDVSA facilities in Caracas, where the Oil Minister and PDVSA's chairman Manuel Quevedo hosted Jia Yong, president of CNPC America and representative of CNPC for Latin America.

"China and Venezuela are strategic allies to consolidate our nation as a power. We will continue advancing and working, and in the next meeting, which will occur after January 16, we will establish the advances of this very positive meeting," Quevedo said.

Venezuela and China are jointly carrying out several projects in the oil sector, such as the development of the joint ventures Petroleo Sinovensa, Petrozumano, Petrourica and Petrolera Sino Venezolana.

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China Exports Rise More Than Forecast

China's exports grew at a faster-than-expected pace in December, data from the General Administration of Customs showed Friday.

In dollar terms, exports advanced 10.9 percent year-over-year in December, just above the 10.8 percent rise economists had forecast.

Imports increased 4.9 percent in December from a year ago, much slower than the expected growth of 15.1 percent.

The trade surplus totaled $54.69 billion in December versus the expected surplus of $37.0 billion.

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