Replies to post #22624 on Value Microcaps Junior Miners

[eom7]

... expect a very good "risk on" week next week.

Yep!

[eom7]

Great call... Media BS shifting back to risk: Dollar Pulls Back As Chinese Data Lifts Risk Appetite
4 minutes ago

(RTTNews) - The dollar's recent rally against the euro and sterling lost a bit of steam Wednesday morning, as strong manufacturing data from China and the UK boosted risk appetite and diminished the dollar's safe haven appeal.

Meanwhile, a discouraging report on US mortgage activity fueled speculation that housing may be in for a double dip.

The Mortgage Bankers Association's weekly mortgage applications survey for the week ending November 26 showed loan application volume decreased 16.5 percent on a seasonally adjusted basis from one week earlier.

A slew of economic data is on tap for Wednesday, including a prelude to the closely watched government jobs report due Friday.

The dollar dropped to $1.3100 against the euro, having touched a 2-month peak of $1.2968 on Tuesday. Even with this morning's retreat, the dollar is up almost 12 cents from a 10-month low touched in early November.

Portugal successfully sold debt this morning, but investors asked for higher rates of return after ratings agency S&P put Portuguese debt on a watch list for a possible downgrade.

Led by Germany and France, the Eurozone manufacturing sector growth reached a four-month high in November on robust new orders and production, a survey showed Wednesday.

However, the overall performance masks disparities in the struggling periphery economies.

The dollar slipped to $1.5640 against the sterling, down from a 2-month high of $1.5484.

Manufacturing activity in the U.K. hit a sixteen-year high in November as employment in the sector rose at record pace.

Survey data released by Markit Economics showed that the Chartered Institute of Purchasing & Supply purchasing managers' index, or PMI, rose to 58 in November, the highest level since September 1994, from a revised 55.4 in October.

On the flip side, the dollar strengthened against the yen, rising to Y83.95 from Y83.40.

Bank of Japan policy board member Miyako Suda on Wednesday said she sees chances of economic contraction in the fourth quarter.

Looking at the US economic calendar for Wednesdays, the ADP National Employment report, which sheds light on non-farm private employment, will be released at 8:15 AM ET. Economists project that the private sector added 58,000 new jobs during November.

The U.S. Labor Department will release its final third quarter non-farm productivity and unit labor costs at 8:30 a.m. ET. Economists expect productivity growth to come in at 1% for the quarter.

At 10.00 a.m. ET, traders will be presented with the results of the manufacturing survey of the Institute for Supply Management, which are based on data compiled from purchasing and supply executives nationwide. Economists expect the index to show a reading of 56.4 for November, slightly lower than 56.9 reported for the previous month.

The Commerce Department will release its construction spending report for October at 10.00 a.m. ET, Economists predict that construction spending declined 0.5% for the month following a 0.5% rise in the previous month.

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