The U.S. dollar exhibits weaker performance at the beginning of the week, in spite of slight increases in yields recently and favorable economic data including robust Black Friday sales and the preliminary November PMI figures. The dollar shows marginal declines against all G10 currencies except the Canadian dollar, which remains the weakest among major currencies both for this quarter and the month.
Gold continues its upward trajectory over the past two weeks, reaching $2018, marking its highest point since mid-May.
Oil prices show a downward trend ahead of the postponed OPEC+ meeting, with January WTI crude oil trading near $74 per barrel, close to its recent and monthly lows.

Asia Pacific
In the Asia Pacific region, Japan's economy saw a 0.5% contraction in the third quarter, underperforming against the anticipated 0.1% decrease. Following this, the Japanese government downgraded its economic outlook for the first time in ten months. October saw a rise in Japan's inflation rate, surpassing the U.S. CPI, though measured differently.

The dollar dipped to a three-day low against the yen but recovered to around JPY149.35 in early European trading.
The Australian dollar also continued its upward movement, reaching $0.6600, its highest since August 10.

Europe
In Europe, various rating agencies are set to update their assessments. Fitch will evaluate Greece, Ireland, and the UK, with the UK's rating likely remaining at AA-. S&P will review Poland, France, and Lithuania, while Moody's will assess Finland. Germany and Spain's ratings by DBRS are expected to remain unchanged at AAA and A, respectively.

The UK's service and composite flash November PMI exceeded expectations, supporting the Bank of England's resistance to the swaps market's predicted aggressive easing.

The euro reached a key retracement level of its year-to-date decline near $1.0960.
Sterling surpassed $1.2600 for the first time since early September, briefly touching $1.2625.

America
Despite rising U.S. interest rates, the dollar lacked momentum, falling against all G10 currencies. The JP Morgan Emerging Market Currency Index recorded gains for the second consecutive week and for six out of the past seven weeks.

Canada's economic focus this week is on the November jobs report. Stronger-than-anticipated September retail sales data in Canada propelled the Canadian dollar to monthly highs. The U.S. dollar hit a low just under CAD1.3600 but has since rebounded to around CAD1.3660.