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Tuesday December 23, 2008 - 20:25:23 GMT
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FX Blog- GVI Forex Analysis: Pre-Far East Open for December 24, 2008
Pre-Far East Open
- The Christmas Eve calendar is loaded with all the data that authorities could get out before the end of the year. The day is a holiday in several centers on the Continent and a half-day session in London. Most markets are closed on the day aftr Christmas. Itâ€™s a half-day session in the U.S. One has to wonder why they bother to open.
- Japan has loaded a slew of releases for Christmas Day. It has a long record of announcements on this holiday. This late in the year, no lasting reaction to the data is expected.
- The EUR/USD is still pivoting the 1.40 line, but seems to get a nosebleed above that line. EUR/GBP remains a focus as it relentlessly heads towards the 100 line.
- Far Eastern bourses closed easier. Japan was closed. European bourses ended weaker. The current call for the U.S. close is for lower. U.S. Bond prices are mixed. See the GVI calendar for an updated schedule of data releases in the two weeks ahead.
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