North American Summary and Highlights 2 Jan

North American session
The USD stayed firm through the US session, gaining ground across the board, but particularly against the CAD, with USD/CAD gaining around half a figure. The EUR and JPY continued to edge a little lower after losses in the European morning, with the AUD and GBP also losing around 0.3%. 
There was little news of note, but the S&P manufacturing PMIs was revised slightly lower in the final December release, helping to trigger a small decline in yields after the overnight gains. 
European morning session
The USD was generally firmer through the European morning, rising across the board. After a quiet start, the USD rose following the Eurozone data, which showed a marginal upward revision to manufacturing PMIs, while money data showed a slightly smaller than expected y/y decline in M3, which was down 0.9% y/y, but further weakness in loans to both households and businesses, which showed annual growth hit another post-2015 low. 
GBP showed the most significant decline, falling against the EUR as well as the USD, helped by the small downward revision in the UK manufacturing PMI, although the pound was already softer ahead of the data. EUR/USD dropped around 30 pips to near 1.10, while USD/JPY gained around 20 pips to 141.60. GBP/USD lost 60 pips to 1.2690. Riskier currencies were generally pressured by a slightly softer tone to equities.