Market Drivers – Asian Session 3-12-2021

The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading.

Gold futures rose 0.66% to $1,774.30 by 10:48 PM ET (3:48 AM GMT), after falling to their lowest level in nearly a month on Thursday. Gold is down 1.3% so far for the week.

The Nikkei rose 1 percent, the largest percentage increase in three weeks, to close at 28,029.57 points.

The index, which fell as much as 0.59 percent earlier in the session, recorded a weekly decline of 2.5 percent.

The broader Topix index jumped 1.63 percent to 1957.86 points, but fell 1.3 percent weekly.

Eurozone’s Retail Sales rose by 0.2% MoM in October versus 0.2% expected and -0.4% last, the official figures released by Eurostat showed on Friday.