- Risk appetites rise in Japan- WSJ
- Australian Q4 Import Prices fall 3.80%, exports fall 8.10%
- Hu Says He’s `Fully Confident’ About U.S.-China Ties, from Bloomberg
- Irish PM Cowen forced to announce early election, article from Bloomberg
- Asian Bourses mixed but as Shanghai popped to to +2.3% the risk-on players emerged
- Japanese Retail Investor Stock sentiment Index rises to +8 in January, matching last April’s high
History tells us that Fridays’ in Asia have, more often than not, a risk-off tone prior to the weekend. After a strong performance overnight in the US by the USD which caught many risk-buyers offguard, the dollar took a reversal mid-session aided by a sparky Shanghai Composite performance.
The first half of the session saw very quiet ranges, with the market in consolidation after some whippy moves over the last 72 hours, and then risk-on buyers pushed the Euro and crosses to the highs ; the market has retracted from the highs prior to the European open.
Ranges EUR/USD 1.3450/1.3514; EUR/JPY 111.64/112.12; EUR/GBP 0.8461-83; EUR/CHF 1.3018-52; USD/JPY 82.87/83.09; CABLE 1.5885/1.5943; AUD/USD 0.9841-93;AUD/JPY 81.70/82.07
