EQUITIES

Asia-Pacific markets traded mixed on Thursday. The Hong Kong’s Hang Seng index up 0.56%, the Australia’s S&P/ASX 200 gains 0.47%, with South Korea’s KOSPI and Singapore’s Straits Times index each added 0.11%. Meanwhile, Japan’s Nikkei 225 slipped -0.08%, and the Shanghai Composite at -0.09% lower.

Overnight on Wall Street, the Dow Jones Industrial Average rose 0.2% to end at 29,883.79 points, while the S&P 500 gained 0.18% at 3,669.01. The Nasdaq Composite slipped 0.05% to 12,349.37, dragged by a 2.7% slide in Tesla Inc.

OIL

Oil prices on caution as OPEC+ resuming discussions. The Brent crude futures traded to $48.20 a barrel, while U.S. crude at $45.14.

On Wednesday, Brent closed at $48.25 per barrel, while WTI futures ended at $45.28 per barrel.

CURRENCIES

Bets on more easing from the U.S. Federal Reserve weighed on the dollar as riskier currencies rose. The U.S. dollar index, which tracks the greenback against a basket of its peers continue to slide today, was last at 90.99.

The Australian dollar changed hands at $0.7403, following levels below $0.738 seen yesterday. The kiwi was last at $0.7061, hovering near the highest since May 2018.

The offshore Chinese yuan changed hands at 6.553 per dollar, near its 2 1/2-year high touched last month.

Bitcoin held firm at $19,215, staying near its record high of $19,918 hit earlier this week.

GOLD

Gold rose to an over 1-week high on Thursday as the dollar weakened. Spot gold currently trading at $1,835.50 per ounce, while stands around $1,838.40 per ounce for gold futures. Previously closed at $1,830.80 and $1,830.20, respectively.

Silver trading at $23.96, platinum trading at $1,006.00 and palladium trading at $2,276.00.

ECONOMIC OUTLOOK

Asian stocks little changed on Thursday as sentiment was divided with investors assessing renewed optimism over U.S. stimulus talks and COVID-19 vaccine breakthroughs and a bleak private jobs report, and other economic releases.

OPEC+, which includes Russia and other oil producing countries are resuming discussions on Thursday on crude oil output policy for 2021. Oil dipped.

China’s Caixin/Markit services PMI for November came in at 57.8, rising from October’s reading of 56.8.

The Federal Reserve’s Beige Book report released Wednesday showed “little or no growth” in four of the central bank’s 12 U.S. districts and only modest growth elsewhere in recent weeks.

In the latest vaccine development, Pfizer Inc and BioNTech's got the green light for vaccine use in Britain, the first Western country to approve a shot for COVID-19. Pfizer jumped 3.5% and BioNTech surged about 6%.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 64.507 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 1.492 million fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 104.809 and 105.023.

- Support line of 104.116 and 103.901.

Commentary/ Reason:

- The Japanese yen traded lower at 104.47 per dollar, having recorded a week low at 104.75 against the greenback yesterday.

- USD/JPY held its ground as COVID-19 vaccine optimism and rally in global equity markets curbed the safe-haven demand for the yen.

- The yen also weakened on dovish BOJ comments. BOJ Deputy Governor Amamita on Wednesday said that uncertainty is extremely high with economic risks on the downside and hinted to continue with the current easing.