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FXstreet.com (Barcelona) - Amongst the most relevant headlines in the Asian session, traders witnessed a rse in Chinese PMI to 55.2 from 54.7 in Oct. , yet fell disappointed by the Australian GDP, which grew less than expected at +0.2%. UK Nov house prices showed a modest 0.3% fall.

The Aussie was again the leading currency, triggering most movements. AUD/USD behaved somewhat erratically, ranging from 0.9540-0.9600. EUR/USD ended consolidating losses below 1.3000. USD/JPY drifted lower to 83.40. Regional stock markets ended mixed.

In Europe, traders had a spirited session, where a rise in risk appetite was observed. In the fundamental domain, the UK surprised, after Nov manufacturing PMI stood at 58.0, up sharply from 55.4 in Oct. Meanwhile, Euro-zone Nov final manufacturing PMI showed a decline to 55.3 from 55.5. German retail sales +2.3% m/m.

EUR/USD tailed off around 1.3100 after a 100 pips upside move. GBP/USD was higher at 1.5620, USD/JPY improve to 83.80, the Aussie also was also benefited by the risk trades performance. Stocks were sharply higher, FTSE-100 +2.07%, DAX +2.66%, CAC-40 +0.74%.

In the US, the Euro was the big winner, after the search for high yielding assets extended. Contributing on today's optimism, the ADP employment report was up 93K, largest rise in 3 years. The ISM manufacturing index came out as expected at 56.5. Goldman rose US GDP forecast to 2.7% from 2.0% for next year. However, making most of the headlines was a line from Reuters, suggesting "US was ready to increase IMF contribution for European bailout fund".

The Fed disclosed details on emergency loans through the 2008 slump period. EUR/USD finished driving through 1.3150, GBP/USD stabilized at 1.5630, USD/CHF sit at 1.0020, USD/JPY jumped above 84.00. AUD/USD rose to 0.9680. Wall Street, S&P 500 was catapulted 2.2%; US 10-yr note yield rose 18 bp to 2.97%.

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