Dec. 22: MARKET OVERVIEW
Risk sentiment in this holiday-shortened week is rather good. MSCI’s broadest index of Asia-Pacific shares outside Japan extended gains and was up 1.1%. Australian shares surged 1.6%. Japan’s Nikkei stock average erased early gains and was flat ahead of a Japanese public holiday on Tuesday.
EUR/USD has recovered from the Friday’s low of 1.2210 to 1.2250. Euro zone is scheduled to release second-tire economic data today: German Import Prices and Consumer Confidence. This week the market will be focused on the Greek presidential election on Dec. 23 and 29. Greek President announced his readiness for consessions if the President will be elected in 2014.
AUD/USD returned to 0.8170 in Asia. The 0.8100 mark remains highly supportive.
GBP/USD rose a bit to 1.5650.
USD/JPY is trading in the 119.50 area after 3 days of growth.