Futures pointed to a lower start for Japan, with investors likely to keep an eye on Chinese markets after equities took a tumble in the last session.
The overnight trading session was relatively quiet, with U. S. markets closed for the Thanksgiving holiday on Thursday. In Asia, futures pointed to a lower start for Japanese markets while investors are likely to keep an eye on Chinese markets after equities took a tumble in the last session.
On the data front, the European composite Purchasing Managers’ Index released overnight rose to 57.5 in November. A Reuters poll had projected the figure to remain unchanged from October’s reading of 56. That showing suggested broad-based recovery in the euro zone.
The euro strengthened for a third consecutive session on Thursday on the back of the upbeat economic indicators, climbing as high as $1.1855 overnight. The common currency traded at $1.1849 at 6:49 a.m. HK/SIN, compared to the $1.17 handle at which it began the week.
More generally, the dollar remained on the back foot against a basket of six major currencies as cautious minutes from the Federal Reserve released Wednesday continued to weigh on the currency. The dollar index stood at 93.118 at 6:57 a.m. HK/SIN after falling as low as 93.070 overnight. Against the yen, the greenback was mostly steady at 111.23.
European equities closed little changed on Thursday, with trade volumes weaker than usual. The pan-European STOXX 600 finished the session up 0.
