Asia Morning: Santa Rally Slowly Continues
MarketPulse | Dec 26, 2019 12:03AM ET
The few markets that are open on Boxing Day in Asia remained in buoyant mood, extending the theme from before Christmas. U.S. index futures advanced between 0.10% and 0.13%, mostly recouping all of the December 24 losses. The Japan225 index outperformed with gains of 0.36%. China shares were also positive, basking in the aftermath of a rollback of at least some of the import tariffs, rising 0.17% on the day.
In the currency markets, a mild risk-on theme permeated, though volumes were extremely light due to the holidays. AUD/USD rose 0.06% to 0.6928, consolidating its push above the 200-day moving average at 0.6903 this week. The Japanese yen was marginally lower, with USD/JPY up 0.13% and AUD/JPY gaining 0.24%.
As you might expect, the data calendar for today is rather sparse, with Singapore’s industrial production for November the possible highlight. That’s expected to rise 1.1% m/m following October’s 3.4% gain. Japan’s housing starts for November are also due, but will probably be ignored.
A holiday in Canada means that the North American calendar is restricted to the U.S. weekly jobless claims (224,000 versus 234,000 last week).
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