FOREX STRATEGY DEC 26 - GETTING READY FOR THE NEW YEAR
Christmas is over. Let’s get back to work. What a sad thing to hear, right? Okay, let’s take a look at the current world events to see what forex strategies should we use today, December 26.
Asian stocks will see a quiet year-end session today, up nearly 9% in the quarter thanks to concerns about trade tensions between the US and China and expectations of a global economic pick-up in 2020.
Stocks in Tokyo opened with gains, while stocks in Seoul were less volatile, while the overnight market situation on Wall Street showed no sign of following Christmas. The US futures market was quiet, as did the Treasury Bond, with 10-year bond yields remaining above 1.90%. Crude oil is holding prices above $61/barrel in New York. The Japanese yen is stuck in the range 109-110, while the Chinese yuan is at about 7.
News from the States
The US unemployment report will be one of the few points of interest for traders today as some markets remain closed. In Asia, Hong Kong and Australia are two of the markets that are on holiday today.
The Asian market
The MSCI Asia Pacific Index is aiming for an increase of less than 9% after the decline in the third quarter and stability in April to June. When all attention is on January 20, 20 The government will keep an eye on the completion of a 'first phase' trade agreement between the United States and China, along with signs of manufacturing situation after witnessing a number of weak purchasing power management indicators of November.
Stephen Innes, Asia Market Chief Strategy Officer at Axitrader, said: "Money supply is growing faster than the economy's expansion, which is creating liquidity for institutional investors to When you combine this cash fortunes with the economic recovery that can occur from tariff reversals, we have a much better reason to own risky assets."
Important events this week
- Reported unemployment in the United States on Thursday.
- Announced Japanese retail sales and industrial production on Friday.
The stock market
- Japan's Topix index rose 0.4% at 10:02 am in Tokyo.
- The Korean Kospi index has changed little.
- Futures on the S&P 500 index rose 0.1%.
- The MSCI Asia Pacific Index rose 0.1% and increased nearly 16% this year.
The currency market
- The Japanese Yen stood at 109.53/USD.
- The Chinese Yuan is at 6.9935/USD.
- The Pound is at $1.2975.