Japan chief Cabinet secretary says monetary policy falls under jurisdiction of BOJ.A bit of a push back from the government here after Kuroda's remarks from earlier today. USD/JPY is keeping at the lows though, hovering around 155.40 - down 0.5% currently.

Japanese Yen Performing Strongly.US stock markets ended a low-volume, shortened after-Thanksgiving-trading session in the green with gains between 0.54-0.65% for the main indices. European equities overcame early weakness to finish 0.3% higher (EuroStoxx50).

PMIs Underscore Persistent Headwinds in Chinese Manufacturing.In the US, the November ISM Manufacturing index is due for release today. Leading manufacturing indicators have sent mixed signals so far, with the flash PMI declining slightly and regional Fed indices improving modestly.

Crude Oil –01.12.2025.  Crude Oil passed above the first resistance of 59.00 as the market still faces downtrend resistance around 60.10. As we see over the chart and if prices hold below the said resistances, then another drop towards 57.60-80 could hit the market.

USD/JPY –01.12.2025.  Prices met the target of 156.70 while more advance towards the second target 158.80 is promising. As we see from our previous chart, the market managed to test the support of 153.65 before advancing towards the first target of 156.80.

ECB's de Guindos: Current level of interest rates is appropriate.ECB's de Guindos: Current level of interest rates is appropriate

Natural Gas and Oil Forecast: OPEC+ Pause Ignites Rebound as Traders Brace for Volatile Week.Natural gas and oil rebound as OPEC+ holds supply steady and energy markets react to shifting geopolitical signals and improving technical momentum.

Heads up: It's the first week of the new month but non-farm payrolls will be absent.In case your trading body clock hasn't adjusted yet, let this serve as a bit of a reminder. It may be the first week of a new month but it's one of those rare occasions where we won't see the US non-farm payrolls data get released.

BoJ Hike Back in Play After Ueda Comments; Yen Surge and 10Y JGB Yield Breakout.Risk aversion returned to Asia at the start of December, lifting Yen sharply across the board. The shift in sentiment coincided with a notable surge in Japanese government bond yields, with the 10-year jumping nearly 0.07 and breaking above 1.87%, its highest level in more than 15 years.

Rupee at record low; weak flows and stalled trade deal eclipse blowout growth.The Indian rupee dropped to a lifetime low on Monday, with unfavourable trade and portfolio flows and the lack of a U.S.-India trade deal overshadowing the boost from stellar growth.

South Korea market watchdog wary of FX risks for retail investors.The chief of South Korea's financial market watchdog said on Monday authorities would review protection measures for retail investors regarding foreign exchange risks amid persistent weakness in the won currency.

Russia S&P Global Manufacturing PMI climbed from previous 48 to 48.3 in November.Russia S&P Global Manufacturing PMI climbed from previous 48 to 48.3 in November

Netherlands, The Nevi Manufacturing PMI unchanged at 51.8 in November.Netherlands, The Nevi Manufacturing PMI unchanged at 51.8 in November

China RatingDog PMI slips into contraction at 49.9 as production, demand stall.China's RatingDog PMI Manufacturing fell back into contraction in November, dropping from 50.6 to 49.9 and missing expectations of 50.5. Founder Yao Yu said both production and demand slowed to levels near stagnation.

Morning Bid: Rate hike prospect arrests yen decline, for now.A look at the day ahead in European and global markets from Ankur Banerjee

Ueda signals December hike debate as BoJ reviews wage momentum.BoJ Governor Kazuo Ueda said the board will actively debate the “pros and cons” of raising interest rates at its December 18–19 meeting. He emphasized that the bank is now focused on whether firms' “active wage-setting behavior” will persist, calling it a key determinant of the timing of the next hike.

Japan's PMI manufacturing finalized at 48.7, contraction eases and confidence hits year high.Japan's Manufacturing PMI was finalized at 48.7 in November, slightly above October's 48.2, but still pointing to contraction. S&P Global's Annabel Fiddes noted that conditions remained challenging, with firms reporting “another solid decline” in new business as demand stayed weak across both domestic and external markets.

EUR/JPY weakens below 180.50 as BoJ's Ueda hints at rate hike.EUR/JPY weakens below 180.50 as BoJ's Ueda hints at rate hike

India HSBC Manufacturing PMI below expectations (57.4) in November: Actual (56.6).India HSBC Manufacturing PMI below expectations (57.4) in November: Actual (56.6)

Indonesia Core Inflation (YoY): 2.36% (November).Indonesia Core Inflation (YoY): 2.36% (November)

Indonesia Inflation (MoM) down to 0.17% in November from previous 0.28%.Indonesia Inflation (MoM) down to 0.17% in November from previous 0.28%

Indonesia Exports declined to -2.31% in October from previous 11.41%.Indonesia Exports declined to -2.31% in October from previous 11.41%

Japanese Yen climbs to over one-week top vs USD amid divergent BoJ-Fed expectations.Japanese Yen climbs to over one-week top vs USD amid divergent BoJ-Fed expectations

Recap - China export-oriented factory PMI falls back into contraction as new orders weaken.China's smaller, more export-oriented manufacturers slipped back into contraction in November, according to a private PMI survey, signalling a renewed loss of momentum after three months of modest expansion.

Bank Indonesia will bring rupiah to trade at 16,500 per dollar next year, governor says.The governor of Indonesia's central bank said on Monday that Bank Indonesia would next year bring the rupiah to trade at 16,500 per U.S. dollar, or even 16,400, adding he is committed to maintaining stability in the currency.

Massive economic growth beat hands struggling Indian rupee a rare lift.The Indian rupee is expected to climb at the open on Monday, boosted by blowout economic growth data that beat the most optimistic forecasts, delivering a rare jolt of confidence to a currency that has been under persistent pressure.

Japan's PM Takaichi promises to continue fiscal management.Japan's PM Takaichi promises to continue fiscal management, and adds while paying close attention to interest rate trends and other factors. I think there may be a bit of random word generating going on here.

Ueda's hawkish shift weighs on USD/JPY.Speaking in Nagoya, BOJ Governor Kazuo Ueda struck a hawkish tone, citing fading tariff risks, rising wages and FX sensitivity as reasons policy normalisation is warranted. Markets reacted sharply: swaps now price a 73% chance of a December hike, JGB yields bear-flattened and USD/JPY slid to multi-week lows, breaking its October uptrend.

BOJ to weigh 'pros and cons' of rate hike in December, governor Ueda says.The Bank of Japan will consider the "pros and cons" of raising interest rates at its next policy meeting, its governor Kazuo Ueda said on Monday, providing the strongest signal yet that a hike could be on the cards later this month.

China's RatingDog Manufacturing PMI contracts to 49.9 in November vs. 50.5 expected.China's RatingDog Manufacturing PMI contracts to 49.9 in November vs. 50.5 expected