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World Markets Brief 12/31: AVA FX WARNS: BEWARE THE ILLIQUID YEAR END TRADING SCAM


NB: THE FOLLOWING IS AN ABRIDGED VERSION FOR FULL ANALYSIS AND CHART ILLUSTRATIONS OF RECOMMENDED TRADES GO TO http://fxmarketanalysis.wordpress.com/   AND SELECT "DAILY OUTLOOK" FOR TODAY


Stocks: Prior Day: Asia, Europe, US down, Today: Asia up, Europe mixed. Pre-Holiday thin liquidity is dangerous –enter only at strong support/resistance with nearby stop losses for small losses – bias to profit taking
-           FX: bias to risk currencies [JPY, USD, CHF in order of safety appeal] vs. risk currencies [AUD, NZD, CAD, EUR, GBP in order of risk appetite appeal],
-           Main events Thurs: GBP- Nationwide HPI m/m, BoE Credit Conditions, USD-Unemployment, CNY- Manufacturing PMI
-     Big Theme: Profit Taking on USD Rally Spurs Bounce In All Anti Dollar Positions on Pre-Holiday, Many at Good Entry Pts SEE  – SEE RECOMMENDATIONS BELOW FOR THE COMING DAYS (NB NO CHANGES SINCE YESTERDAY, TRENDS CONTINUING, WE DO NOT RECOMMEND OPENING NEW POSITIONS NEW YEAR’S EVE- TAKE A BREAK!)
STOCKS
US: In the end, another fairly meaningless low volume session of chop, ending slightly down, and THIS was the biggest news day of the week. Again, senior traders are probably already off, leaving underlings in charge to just hold the fort. A light news day that failed to move markets.
 
Asia: Trade was quiet Thursday in Asia, with several markets already shut, as most of the region's bourses closed out the year rising about 0.5 percent or more. TOKYO, Dec 30 (Reuters) - Japan's Nikkei average booked a 19 percent gain for 2009, with shares of high-tech exporters having led a rebound rally on a weaker yen and as economic stimulus measures helped turn around the world economy.
 
Europe:  Down moderately on profit taking Wednesday, Thursday many markets closed, incl. Germany, others finish early
 
ASIA- DOWN
N225I -0.86%
HS -0.01%
SSEC +1.58%
FTSTI +0.35%
AORD -0.20 %
EUROPE DOWN
FTSE -0.25%
DAX -0.62%
CAC -0.39%
 
US- DOWN
S&P +0.02%
DJIA +0.03%
NASDAQ +0.00%
 
 
THIS MORNING UP
N225I -0.86%
HS +1.75%
SSEC +0.45%
FTSTI +0.62%
AORD +0.74 %
                          MIXED
FTSE +0.19%
DAX -0.90%
CAC +0.20%
 
 
Commodities: Gold and oil up Wed, continue rising into Thurs. 
 
Oil:   Up currently 0.64% in early Thursday trade. Oil prices headed toward $80 a barrel Thursday in Asia, the final day of trading for 2009, after U.S. crude stockpiles fell for the fourth week in a row.
 
Gold:    Up 1.14%, continuing higher Wed, Thursday on low volume  
 
CURRENCIES: No major news market moving news Wed. or Thurs, overall minor drift on low volume. Bias to risk currencies
 
USD: Wed., early Thursday lower vs. the EUR, GBP, AUD, CHF, NZD, unchanged vs. the CAD, higher vs. the JPY.
 
EUR: Wed., early Thursday higher vs. USD, CAD, JPY   lower vs. GBP, CHF, AUD
 
JPY: Down vs. the USD, AUD, CHF, GBP
 
GBP- Up vs. USD, EUR, JPY
 
AUD: - Like all the commodity dollars, continuing higher but at a slower pace in the face of improved USD strength, dropping vs. the USD in early Wed. trading on no significant news,
 
NZD: - Like all the commodity dollars, continuing higher but at a slower pace in the face of improved USD strength, dropping vs. the USD in early Wed. trading on no significant news,
 
CAD: Unlike the other commodity dollars, flat vs. the USD Wed., early Thursday
 
CHF: Up vs. the USD, down vs. the EUR
 
END – WE DO NOT RECOMMEND TRADING NEW YEAR’S EVE, OPEN POSITIONS SHOULD HAVE STOP LOSS ORDERS IN PLACE. HAVE A GREAT NEW YEAR AND TAKE A BREAK! THANKS TO ALL READERS FOR THE HONOR OF YOUR FOLLOWING US!