Societe Generale in its early Thursday economic news summary pointed out:

-- US dollar offered in Asia, Australian dollar rebounds on strong employment. 10-year United States Treasury up to 4.29% despite initial consumer price index relief (rent +0.2%) and "solid" 10-year auction stopped through 1.6bpa -- the highest since June -- non-dealer bidding 89.5%.

-- Day ahead: European Central Bank decision, SocGen forecasts -25bps, focus on 'sufficiently restrictive', inflation forecasts. US producer price index, jobless claims. India's CPI.

-- Swiss central bank cuts 50bps to 0.50%, repeats willingness to be active in foreign exchange markets as necessary. Inflation forecast downgraded to 0.3% in 2025 from 0.6%, raised to 0.8% in 2026 from 0.7%, below target. President Schlegel: we have ammunition left on rates.

-- Australia's November employment gains 35,600 jobs, full-time 52,600. The unemployment rate drops to 3.9% from 4.1%. The implied cut delayed again to May 2025. AUD/USD +1.0% at 0.6428, three-year ACGB +12bps at 3.85%.

-- Brazil's central bank raises Selic rate by 100bps to 12.25%, signals 100bps hikes in January and March, cites de-anchoring of inflation expectations and stronger than expected activity. USD/BRL to resume at 5.9647.

-- Nikkei +1.2%, EUR 10-year IRS +2bps at 2.17%, Brent crude +0.3% at $73.7/barrel, Gold flat at $2,719/oz.