- PBOC fixes USD/CNY at 6.3009, in obvious attempt to gain political points by having Yuan end the year 4.5% higher
- HSBC China manufacturing PMI for December 48.7
- Australian November private sector credit +0.3% MoM
- George Soros predicts Gold at beginning of bear trend
- South Korean December CPI +4.2% YoY
- Regional stockmarkets +0.25% on average
- 2011 saw big falls in Asian stocks with Australia -15% and HK -20%
- Gold added 1% on the session to $1556/oz, up around $150 for the year
- Oil ends the year near $100/bbl, up $9 since this time last year
Only some small moves in EUR/JPY worth recording. Dealers eyed stops just above the previous lows at 100.75 but were unable to get them triggered, just as NY stalled last night at the same level. The pair started to drift off after the USD/CNY was fixed at record lows but hasn’t yet been able to test the big option level at 100.00. Ranges: 100.28/68
AUD/USD moved with flows in the JPY crosses and also affected by the China PMI and the Yuan fixing. It rallied early but pulled up well shy of solid resistance at 1.0200. Ramges: 1.0120/74
EUR/USD traded relatively quietly, 1.2935/65. USD/JPY 77.49/73 and cable 1.5400/18.
