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Final Day of the Decade As the decade comes to a close, Asian trading session continues to be defined by thin liquidity. USD fell against all G10 currencies especially NZD. Spot Gold traded higher to $1100oz while EURUSD traded sharply up to 1.4440. Carry trades found strong buying interest, despite the Tokyo holiday, as the [...]

COMMODITIES – Sugar, Copper Rise; Gold, Grains, Soy Drop * White sugar hits record high; copper at 16-month peak * Sugar and copper should more than double for the year * Gold, agricultural markets end lower, weigh on index NEW YORK, Dec 30 (Reuters) – Sugar touched record highs and copper rose on Wednesday in [...]

Japan Airlines Fears Weigh On JPY Asian stock markets have been mixed overnight with the Shanghai Composite up over 1.5% on the day, but the Nikkei nearly a percent lower – weighed down primarily by speculation that Japan Airlines may have to file for bankruptcy. Shares in the troubled airline are down over 25% from [...]

COMMODITIES – Markets Slip As Dollar Rebound Offsets Supply Woes * Gold, wheat lead markets lower in U.S. session * Chile mine strike threat gives copper early boost * White sugar jumps in London; raw sugar slips in New York NEW YORK, Dec 29 (Reuters) – Most commodities edged lower in U.S. trade on Tuesday [...]

Swedish Retail Sales Expected To Continue Surge Higher Tight trading ranges prevailed in the majors overnight with EURUSD’s range 1.4354-1.4419, and USDJPY locked in an even narrower 91.61-91.78 channel. The USD has not shown much reaction to last night’s Fed proposal to set up a term deposit facility (designed to drain excess reserves); the accompanying [...]

COMMODITIES – Oil, Copper Rise In Light Trade As Dollar Falls * RJ/CRB up more than 1 pct as dlr falls over half pct * U.S. crude above $76 a barrel, inventory drop supports * Copper near week-high, trade eyes dispute at Chile mine NEW YORK, Dec 23 (Reuters) – Oil scaled three-week highs on [...]

Asian Session: Markets Shrug Off Terrorist Attempt Markets in general are very quiet after the holidays last week and today’s holiday in Australia and New Zealand. Asian regional equity indexes are higher, with Shanghai up 1.50% and the Nikkei up 1.32% on very light volume. Asia shrugged off the terrorist attempt on a Detroit-bound passenger [...]

Asian Session: Thin Holiday Markets FX markets were quiet in Asia ahead of the holidays. Regional indexes traded broadly higher, with Shanghai up 2.59%. After yesterday’s weaker than expected US data, it seems that the USD dependence on yields and domestic economic data has become stronger than the year long risk aversion trade. Most of [...]

Respite in USD Buying The minutes of the BOE MPC meeting show a unanimous vote of 9-0 to keep both interest rates and QE asset purchases unchanged. Divergant dissenters Miles and Dale took the middle path and both opted for holding purchases at £200bn. The dovish overall tone gave the feeling that members were unwilling [...]

Asian Session: New Zealand GDP Disappoints Markets have shifted into holiday mode, as ranges have become compressed and thin liquidity is dominating price behavior. USD was basically unchanged in the Asian session, with Japan on holiday. Higher Treasury yield in recent weeks have created just another reason for traders to liquidate JPY positions. The USDJPY [...]