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Asia Day Ahead-Focus on the hectic Asian data schedule



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Dec 14 (Reuters) -In weekend news; South Korea's acting president moves to reassure allies, and calm markets after impeachment. China has room to cut RRR further, PBOC official says. Moody's hands France a surprise downgrade over deteriorating finances.

Wall Street closed mixed, Treasury yields climbed for the fifth day, oil rose, metals fell, and the U.S. dollar consolidated on Friday.

There is no strong lead for Asian markets, with EM ETFs up just 0.09%. There is a busy regional data schedule, led by Japanese machinery orders and PMI; Chinese house prices, urban investment, industrial output, retail sales, and urban unemployment; then Indian HSBC PMIs, and inflation. The focus will be on local markets and the hectic data schedule, ahead of a very busy week with rate decisions in the U.S., Japan, and the UK.

Dow -0.2%, S&P flat, Nasdaq +0.12%, in a subdued session, capped by higher UST yields. Treasury yields climbed; 2yr +6bp to 4.247%, 10yr +8bp 4.401%, and 30yr +6bp to 4.607% on TradeWeb, as markets price a hawkish 25pt Federal Reserve rate cut on Dec 18th.

Oil climbed Brent +1.3%, WTI +1.55% as more sanctions on Russia and Iran could tighten supplies. U.S. copper -1.1% amid uncertainty on the impact of China stimulus measures; and gold -1.23% on profit taking.

The U.S. dollar =USD closed unchanged, but FX crosses were busy. EUR +0.35%, GBP -0.4% after a raft of weak UK data nL8N3NE076 spurred EUR/GBP demand. USD/JPY +0.65% as BOJ rate hike optimism fades. USD/CNH +0.03%, AUD -0.15%, NZD -0.1% and USD/CAD +0.1%.

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(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

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