Asian session: The euro rose to the highest level this month

00:30 Australia Construction Work Done Quarter III -0.3% +0.6% +2.7%

The euro rose to the highest level this month as Asian stocks erased losses and lawmakers in Germany, the 17-nation region’s biggest economy, reached a coalition accord on wages and spending increases. German Chancellor Angela Merkel’s Christian Union party clinched a coalition agreement with the Social Democrats in Berlin today, CDU parliamentary group whip Michael Grosse-Broemer said in a Twitter message. The agreement was later also confirmed by CDU spokesman Axel Baeumer.

The euro strengthened versus most of its 16 major counterparts amid speculation a report this week will show a pick up in inflation, reducing the need for the European Central Bank to expand monetary easing. The consumer price index for the euro region probably rose 0.8 percent this month after a 0.7 percent gain in October, the smallest in almost four years, economists said before a Nov. 29 report. Data published on the same day may also show the bloc’s jobless rate remained at a record 12.2 percent last month.

The Bloomberg U.S. Dollar Index held a loss from yesterday before figures that may show jobless claims increased and durable goods orders fell, while U.S. consumer sentiment improved, signaling a mixed recovery that may keep the Federal Reserve from reducing stimulus this year. The Labor Department will probably say today jobless claims climbed to 330,000 in the week through Nov. 23, and the Commerce Department may announce that bookings for goods meant to last at least three years fell 2 percent in October, according to Bloomberg News surveys.

EUR / USD: during the Asian session, the pair rose to $ 1.3600

GBP / USD: during the Asian session, the pair rose to $ 1.6230

USD / JPY: during the Asian session, the pair rose to Y101.65

There is a string of UK data set for release at 0830GMT, with the release of the revised Q3 GDP data and the September Index of Services. Preliminary data showed the UK's economic recovery strengthened during the quarter, rising to 0.8% on the quarter from the 0.7% growth rate in Q2 and the 0.4% expansion seen in Q1. At 1100GMT, the CBI's Quarterly Distributive Trades numbers for Q3 are expected.