Equities and bonds are experiencing upward movements, while the dollar exhibits a narrow mix in anticipation of the December US CPI report.

In the Asia Pacific region, major stock markets, particularly Japan, are reaching new 30-year-plus highs. Europe's Stoxx 600 is showing a 0.33% increase, recovering most of its recent losses. US index futures display a modest upside bias.

Gold and February WTI oil are trading within their respective Monday ranges.

Asia Pacific
In Asia Pacific, Australia's November goods trade surplus surged to A$11.4 billion, surpassing expectations by over 50% and marking the largest surplus since March.

The Australian dollar reflects the overall consolidation in the forex market this week, remaining within the pre-weekend range.
The US dollar, after extending gains to almost JPY145.85 in the North American session, is holding just below that level today.

Europe
Turning to Europe, the UK is set to release November GDP figures, with the economy showing signs of recovery after a 0.3% contraction in October.

Sterling and the euro have largely stayed within their respective ranges from last Friday, with sterling experiencing a brief rise to almost $1.2775 before retracing to $1.2735 in early European trading. Sterling has not settled above $1.28 since the end of July.

America
Looking ahead to America, the market anticipates a 0.2% increase in the December US CPI, translating to a 1.2% annualized rate in Q4 2023. This would match the lowest quarterly pace since Q2 2020.

Despite testing the upper end of last Friday's range against the Canadian dollar (~CAD1.3400), the US dollar has yet to settle above it. Nonetheless, there is persistent pressure, and bullish sentiment remains for the greenback. Investors are closely watching the CPI report for potential market impact.